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Plan B talks get louderThe Biden campaign’s attempts to soothe panicked Democrats and donors after the president’s calamitous debate appear to have cratered. One Democratic lawmaker has openly called on President Biden to withdraw from the race, while others are sharply criticizing his campaign’s response. And many party backers remain as nervous about sticking with him as they were last week — but also worry about the alternatives. The latest: Representative Lloyd Doggett of Texas became the first sitting Democrat to demand that Biden step aside. Democrats and foreign allies worry that Biden has increasingly seemed confused or listless, The Times reports.

Persons: Biden, Lloyd Doggett, Jim Clyburn, “, ” Barack Obama Organizations: Biden, Democratic, South Carolina, The Washington Post, Times Locations: Texas, South, NewsNation

☆ The 10 best movies on Netflix in July
▼ + stars: | 2024-07-03 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: 1 min

"Back to the Future" (July 1)(L-R) Christopher Lloyd and Michael J. Fox in "Back to the Future." Universal PicturesIt's one of the greatest adventure movies of all time. The visionary direction by Robert Zemeckis, the fantastic chemistry between Fox and Christopher Lloyd as Doc Brown, the amazing score by Alan Silvestri — this is the closest thing to a perfect blockbuster movie. And make a night of it and watch the sequels, which are also available.

Persons: Christopher Lloyd, Michael J, Fox, Robert Zemeckis, Doc Brown, Alan Silvestri — Organizations: Fox

☆ LeBron James reportedly agrees to two-year, $104 million contract with the Los Angeles Lakers
▼ + stars: | 2024-07-03 | by ( Matias Grez | ) edition.cnn.com time to read: +1 min

CNN —LeBron James has reportedly signed a two-year, $104 million maximum contract to return to the Los Angeles Lakers, according to ESPN’s Adrian Wojnarowski and The Athletic’s Shams Charania. The deal reportedly includes a player option for the 2025-26 season, giving James, 39, control over his future after next season. James, a four-time NBA MVP, also tops the all-time playoff scoring leaderboard with 8,162 points. Last season, he also became the first player to be selected for 20 All-Star appearances, surpassing the record he had jointly held with Lakers legend Kareem Abdul-Jabbar. The Lakers were then eliminated in the first round by the Denver Nuggets, losing the series 4-1.

Persons: LeBron James, ESPN’s Adrian Wojnarowski, Shams, James, Bronny James, Michael Jordan –, Kareem Abdul, Jabbar Organizations: CNN, Los Angeles Lakers, Lakers, NBA, Western Conference, New Orleans Pelicans, Denver Nuggets

Donors still on edgeThe shock waves from last week’s presidential debate are still reverberating, as President Biden and his aides sought to allay concerns from despondent Democrats and wealthy donors about his age and fitness for office. Donors are increasingly becoming reconciled to Biden remaining the Democratic nominee even after Biden’s disastrous performance. But some in the party, and in the markets, are increasingly expecting Donald Trump to win in November. Seventy-two percent of registered voters don’t believe Biden has the mental and cognitive health to serve as president, according to a CBS News poll published Sunday, compared with 65 percent in early June. With the odds for a Trump win rising after the debate, Wall Street analysts are recalculating what that could mean for the economy and the markets.

Persons: Biden, Donald Trump, don’t, Trump Organizations: Democratic, CBS, Trump, Wall Street

☆ Noah Lyles wins 200m at US Olympic trials in record time
▼ + stars: | 2024-06-30 | by ( Aimee Lewis | ) edition.cnn.com time to read: +2 min

CNN —Three-time world champion Noah Lyles moved a step closer to achieving his ambitions of an Olympic sprint double by winning the men’s 200-meters in record time at the US Olympic track and field trials. Twenty-year-old world silver medalist Erriyon Knighton was third in 19.77, securing the final Olympic spot in the event. “You claim you’re gonna go out there and win four medals, so the goal had to be win the 100m and 200m. Elsewhere, Grant Holloway was 0.06 seconds off the world record in winning the men’s 110m hurdles in 12.86. Olympic champion Valarie Allman (70.73m) won the women’s discuss, while Tara Davis-Woodhall won the women’s long jump.

Persons: Noah Lyles, Eugene, Michael Johnson’s, Lyles, Kenny Bednarek, Erriyon Knighton, “, ” Lyles, I’ve, He’s, Lyles –, –, Gabby Thomas, ” Thomas, ” Brittany Brown, McKenzie Long, Sha’Carri Richardson, Grant Holloway, Valarie Allman, Tara Davis, Woodhall Organizations: CNN, Hayward Field, Olympic, Associated Press Locations: Bednarek, Tokyo, Paris

☆ Michael J. Fox celebrates his ‘mind blowing’ Glastonbury performance with Coldplay
▼ + stars: | 2024-06-30 | by ( Megan Thomas | ) edition.cnn.com time to read: +1 min

“Glastonbury all the love and thanks to the @coldplay team who took such great care of us. And many thanks to Chris, Will, Johnny, Guy and Phil,” Fox wrote, alongside a carousel of photos showing his time at the fest. This is @coldplay’s time.”Video of their performance shared by the BBC showed frontman Chris Martin directing the spotlight to Fox. “Thank you to our hero forever and one of the most amazing people on Earth, Mr. Michael J. Thank you so much Michael, our hero.”Fox previously played with Coldplay during a show in 2016 in New Jersey.

Persons: Michael J, Fox, Coldplay, Chris, Johnny, Guy, Phil, ” Fox, Chris Martin, “, ” Martin, riffing, Chuck Berry’s, Johnny B, Goode, ”, Martin, ’ ”, Michael Organizations: CNN, Glastonbury, “ Glastonbury, BBC, Fox, Coldplay Locations: New Jersey

Post-debate panicAfter a bruising 90-minute debate that underscored President Biden’s single-biggest weakness — concern about his age — Democratic donors exchanged panicked texts and emails with one question: What’s Plan B? The 81-year-old Biden’s halting, shaky performance against a confident (if sometimes misleading) showing by Donald Trump has set off alarm among Democrats with just seven weeks before the Democratic National Convention and four months before the November election. Some party faithful who were suppressing their doubts about Biden are now privately lobbying Democratic leaders and scouring rule books to figure out how to change the presidential ticket. “Disaster,” one unnamed Democratic donor told CNBC after the debate, reflecting the mood among the party’s moneyed class. Other reactions included “absolute train wreck” and “game over.” “Do we have time to put somebody else in there?” Mark Buell, a well-known Democratic donor, told The Times.

Persons: Biden’s, Donald Trump, Biden, ”, ” Mark Buell Organizations: Democratic National Convention, Democratic, CNBC, Times

☆ Michael Jackson Died With $500 Million in Debt
▼ + stars: | 2024-06-28 | by ( Reggie Ugwu | More About Reggie Ugwu | ) www.nytimes.com time to read: +1 min

Michael Jackson’s debts and creditor’s claims at the time of his death in 2009 totaled more than $500 million, according to a court filing by the pop superstar’s estate that provides details of his financial woes toward the end of his life. Jackson owed about $40 million to the tour promoter A.E.G., according to the filing, which was made in Los Angeles County Superior Court this month and earlier reported by People magazine. The filing said that 65 creditors made claims against the singer after his death, some of which resulted in lawsuits, and that some of his debt had been “accruing interest at extremely high interest rates.”A representative for the Jackson estate, which is executed by John Branca and John McClain, did not immediately respond to a request for comment. The estate filed the court papers as a request to authorize the payment of about $3.5 million to several legal firms for their work in the second half of 2018. In the court filing, the executors say that they have eliminated the estate’s debt and that almost all of the creditors’ claims and litigation have been resolved.

Persons: Michael Jackson’s, Jackson, A.E.G, John Branca, John McClain, ’ Organizations: Court, People Locations: Los Angeles

Talking pointsAll eyes will be on CNN at 9 p.m. Eastern, when President Biden and Donald Trump face off in their first debate since 2020. Among the keenest watchers will be executives and investors looking for signs about how the candidates might handle the economy and business in a second term. There will be plenty to scrutinize in the 90-minute, audience-free debate, including what the candidates say and how they say it. What will Biden and Trump say about some of the key issues? In Thursday night’s debate, “markets probably care more about presentation than policy pledges,” Paul Donovan, an economist at UBS, wrote in a client note.

Persons: Biden, Donald Trump, Trump, ” David Bahnsen, DealBook, ” Paul Donovan, Elon Musk, There’s, J.D, Vance of, Doug Burgum, Marco Rubio Organizations: CNN, Bahnsen, UBS, Biden, Trump, Times, Gov Locations: Atlanta, Vance of Ohio, North Dakota, Marco Rubio of Florida

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

☆ Kaz Hosaka, 65, Dies; Led Two Poodles to Westminster Glory
▼ + stars: | 2024-06-26 | by ( Richard Sandomir | ) www.nytimes.com time to read: +1 min

Kaz Hosaka, a prominent Japanese-born dog handler who guided two miniature poodles to Best in Show victories at the Westminster Kennel Club Dog Show — the second one just last month — died on Sunday in Langhorne, Pa. His wife, Roxanne Wolf, said the cause was a traumatic brain injury as a result of a fall. Mr. Hosaka was a masterly handler for more than 40 years. Edge, a lifestyle magazine, recently said he was “to the poodle world what Michael Jordan is to basketball. Smooth, clever, elegant and nearly unbeatable.”In a profile in The New York Times in 2009, he was described as “an artist who tends his poodles’ poufs as if they were bonsai trees from his native Japan.”Mr. Hosaka radiated intensity, from the backstage grooming area to the green carpeted show rings, said David Frei, a former voice of the televised Westminster show and the club’s former communications director.

Persons: Kaz Hosaka, —, Roxanne Wolf, Hosaka, Michael Jordan, ” Mr, David Frei Organizations: Westminster Kennel, New York Times Locations: Japanese, Langhorne, Pa, Japan

Nvidia’s fall to earthIt looks like another volatile day for Nvidia shareholders. And given the company’s enormous influence on the entire S&P 500, they may not be the only investors facing big swings. It closed Monday down roughly 16 percent from its intraday high on Thursday, shedding more than $550 billion in value — roughly the size of Tesla’s market capitalization — offering the markets a tough reminder that the A.I. Mary Daly, the president of the San Francisco Fed, warned Monday of a slowdown in the labor market hitting the U.S. economy. Another big piece of data comes out on Tuesday: The Conference Board is set to release its monthly consumer confidence index.

Persons: Mary Daly, San Francisco Fed, ” Organizations: Nvidia, San Francisco

The $3 trillion company is the first to be charged under the Digital Markets Act, a landmark 2022 E.U. Here are the E.U.’s accusations against Apple:The App Store violates so-called steering rules. Regulators say that app developers cannot easily inform their customers about new offerings, including cheaper deals, within Apple’s ecosystem. The fees Apple charges are excessive. products and services in Europe because of “regulatory uncertainties.”And the company already faces a $2 billion E.U.

Persons: Apple Organizations: Apple, European Union, Digital Markets, Google, Financial Times, Microsoft Locations: Apple’s, Europe

☆ Music labels sue AI companies Suno, Udio for U.S. copyright infringement
▼ + stars: | 2024-06-24 | by ( ) www.cnbc.com time to read: +2 min

Major record labels Sony Music , Universal Music Group and Warner Records sued artificial intelligence companies Suno and Udio on Monday, accusing them of committing mass copyright infringement by using the labels' recordings to train music-generating AI systems. The companies copied music without permission to teach their systems to create music that will "directly compete with, cheapen, and ultimately drown out" human artists' work, according to federal lawsuits filed against Udio in New York and Suno in Massachusetts. Representatives for Suno and Udio did not immediately respond to requests for comment on the complaints. AI companies have argued that their systems make fair use of copyrighted material. Cambridge, Massachusetts-based Suno and New York-based Udio have raised millions in funding this year for their AI systems, which create music in response to user text prompts.

Persons: Udio, Mariah Carey's, James Brown's, Michael Jackson, Bruce Springsteen, Mitch Glazier Organizations: Sony Music, Universal Music Group, Warner Records, Udio, Suno, Recording Industry Association of America Locations: New York, Suno, Massachusetts, Cambridge , Massachusetts

☆ Fatal Shooting Robs a Neighborhood of a Longtime Friendly Face
▼ + stars: | 2024-06-22 | by ( Shayla Colon | ) www.nytimes.com time to read: +1 min

He worked his shift at Pizza Palace in Manhattan’s Inwood neighborhood late Sunday. But the man, Alejandro Ramirez, never got to the stop. He made it only a few blocks before he was fatally shot in the chest. Mr. Ramirez, 45, was one of two people killed in a shooting at West 207th Street and 10th Avenue around 11:40 p.m. on Father’s Day; another Bronx man, Michael James, 44, was fatally shot, in the face and torso. The number of shootings across New York City has dropped compared with last year, but that was little consolation for a neighborhood shaken by the Father’s Day shooting, and for a city girding for summer’s traditional increase in gun violence.

Persons: Alejandro Ramirez, Ramirez, Michael James Organizations: West 207th Street Locations: Manhattan’s Inwood, Bronx, New York City

Musk’s mission to CannesAs advertising moguls traveled to southern France this week for the Cannes Lions festival — an annual rosé-filled celebration of their industry — the biggest guest was someone who had crudely told many of them to get lost. Elon Musk and his top lieutenant, Linda Yaccarino, were on hand to persuade brands to return to X in a bid to bolster their beleaguered ad business. A reminder: At the DealBook Summit, he lashed out at advertisers who had pulled back from X after he had endorsed an antisemitic conspiracy theory. of the ad giant WPP, asked Musk about the incident onstage on Wednesday, the X owner responded that he wasn’t referring to all advertisers. “Advertisers have a right to appear next to content that they find compatible with their brands,” Musk said.

Persons: Elon Musk, Linda Yaccarino, Musk, Mark Read, ” Musk Organizations: Cannes, Cannes Lions, WPP Locations: France

☆ Affiliate-marketing firm Button is launching a retail advertising product to shake up the $140 billion industry
▼ + stars: | 2024-06-19 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +4 min

Read previewMarketing tech firm Button wants a piece of retail media. AdvertisementAccording to eMarketer, advertisers will spend $140 billion on retail media globally this year. "The intent in those moments is not nearly as high as the retail media intent in a retailer site," Jaconi said. AdvertisementButton claims that its initial tests with its retail ad product increased return on ad spend, a key metric that tracks the effectiveness of each ad dollar, by an average of 34% compared to other offsite retail media products. With the growth in retail media, a cottage industry of adtech firms like Criteo, Epsilon, Pacvue, and Skai are vying for a piece of brands' retail media spend.

Persons: —, Button, Michael Jaconi, NBCU's Peacock, Jaconi, they're Organizations: Service, . Publishers, Publishers, Business, Microsoft

☆ Caitlin Clark Is a Rorschach Test for Sports Fans
▼ + stars: | 2024-06-19 | by ( Lindsay Gibbs | ) www.businessinsider.com time to read: +9 min

But nothing that Clark does — or that is done to Clark — is treated as normal. That was just the latest bulletin in a months-long news cycle trailing everything Clark does. ESPN's Stephen A. Smith said WNBA players should go easier on Clark in games if they want to keep up record viewership: "Protect the golden goose." Related storiesThese days, watching Caitlin Clark play basketball has become a Rorschach test for a deeply divided country. Four years ago, WNBA players actually helped flip a Senate seat in Georgia.

Persons: Caitlin Clark, —, Clark, Clark —, Angel Reese, ESPN's Stephen A, Smith, Nikki Haley, Cathy Engelbert, Wilson, Michael Jordan Michael Hickey, she's, we've, Megan Rapinoe, Donald Trump, Brittney Griner, Matt Leinart, Reese, Pat McAfee, Eminem, Chennedy Carter, Carter, That's, I'm, Dijonai Carrington, Carrington vocalized, Emilee Chinn, Sabrina Ionescu, Breanna Stewart, A'ja Wilson, Clark Caitlin Clark, — infantilize, James Boyd Organizations: WNBA, Business, Chicago, CNN, Fox News, ESPN, Olympic, GOP, Chicago Sky, That's, Connecticut Sun, Getty, Black, Nike, The Locations: Iowa, Hollywood, Indiana, America, Georgia, Russia, Chicago, Washington ,, Connecticut

Stormy weatherBoeing’s boss, Dave Calhoun, will testify before a Senate panel on Tuesday, as yet another whistle-blower has come forward, alleging the planemaker was negligent in tracking hundreds of faulty parts. Calhoun will step down by December, but that hasn’t stopped lawmakers, investors and customers from hammering the company. Now, Boeing is reportedly struggling to find a successor, highlighting the scale of the challenge to fix an iconic American company. Calhoun will say that the culture is still “far from perfect.” He will be grilled on a range of issues hanging over the company, from multiple whistle-blower accusations to the events leading up to the midair blowout of a door plug on an Alaska Airlines 737 Max 9 jet in January.

Persons: Dave Calhoun, Calhoun, hasn’t Organizations: Boeing, Alaska Airlines, Max

A call to arms to rethink social mediaJust in: The U.S. surgeon general, Vivek Murthy, called for a warning label for social media platforms in a Times Guest Essay, advising parents that the technology may be helping fuel a mental health crisis among adolescents. It’s the latest effort by regulators to impose restrictions on social networks — particularly over their effects on children and teens — and is a reminder of the increasing scrutiny of global tech giants. In his guest essay, Murthy writes that the issue has become an emergency:Why is it that we have failed to respond to the harms of social media when they are no less urgent or widespread than those posed by unsafe cars, planes or food? Scrutiny of social media’s effects on teenagers has grown in recent years. The social psychologist Jonathan Haidt describes the 2007 release of the iPhone as an inflection point, with suicidal behavior and reports of despair among adolescents rising sharply since.

Persons: Vivek Murthy, —, Murthy, Jonathan Haidt Locations: The U.S, U.S

☆ RV sales are picking up. That’s a good sign for the economy
▼ + stars: | 2024-06-16 | by ( Alicia Wallace | ) edition.cnn.com time to read: +10 min

When consumer sentiment falters or the economy starts to teeter, RV sales follow suit, said Michael Hicks, an economics professor at Ball State University and director of Indiana University’s Center for Business and Economic Research. “People don’t make these large, luxury purchases unless they’re actually feeling better about the economy,” said Hicks, who follows the RV industry closely. “It’s so sensitive to interest rate changes, which often precede a downturn.”A Winnebago travel trailer at Motor Sportsland RV dealership in Salt Lake City on April 6, 2020. Nika Shneyder and her father and business partner, Alex Shneyder, standing by a Chill RV in Malibu RV Park, California, in 2019. They moved down to a historically strong, but noticeably smaller, 493,000 the next year, according to data from the RV Industry Association.

Persons: That’s, Nika Shneyder, “ We’re, ” Shneyder, “, Michael Hicks, ”, Hicks, George Frey, bode, ” Michael J, Happe, hasn’t, We’ve, we’ve, Covid, Alex Shneyder, Nika, they’d, Monika Geraci, David Titus, Ty Wright, there’s, Ball State’s Hicks, ’ Titus, they’re, we’ll, Titus, ” Titus Organizations: CNN, Ball State University, Indiana University’s Center for Business, Economic Research, Bloomberg, Getty, Winnebago Industries, RV Industry, Dealers, RVs, Consumers, HL Enterprise, Manufacturing, of Labor Statistics Locations: Los Angeles, teeter, Salt Lake City, YOLO, Malibu, , California, Elkhart , Indiana, The Northern Indiana, South Bend, Elkhart, “, Elkhart .

Shareholders in Tesla voted in favor of his two big asks, reaffirming a multibillion-dollar compensation package that a Delaware judge had nullified and approving the company’s reincorporation in Texas. “I think we’re not just opening a new chapter for Tesla, we’re starting a new book,” a jubilant Musk told shareholders at the company’s annual meeting. The vote doesn’t end Tesla and Musk’s legal fights in Delaware, including over the compensation plan. About 84 percent of votes cast, excluding the Musks’ shares, backed the reincorporation proposal. DealBook hears that Tesla succeeded in getting retail investors, who were overwhelmingly supportive of Musk, to vote in far greater numbers than they usually do.

Persons: Elon Musk, “, Tesla, ”, Musk, ” Musk, aren’t, Kimbal Organizations: Tesla, Wall Street, Vanguard, BlackRock Locations: Delaware, Texas

The markets and Fed diverge againThe bull market rally is continuing to run on Thursday. The S&P 500 is poised to set yet another record, as investors see inflation in retreat — even if Fed policymakers don’t quite see it that way. The gulf between investors and the central bank is widening again. That makes the Fed more hawkish than other central banks, especially those in Europe, that are expected to trim borrowing costs several times this year. He reiterated that inflation remained above the central bank’s 2 percent target and that U.S. households’ spending power had diminished over the past two years.

Persons: Jay Powell, ” Organizations: Fed Locations: Europe

A.I., the Apple wayAfter months of anticipation, Apple finally introduced its plan to infuse its products with artificial intelligence: Meet Apple Intelligence, which weaves the technology into core features of iPhones, iPads and Macs. But while the tech giant announced a slew of new features, the announcement reflected a very Apple-like cautious approach to A.I. Yes, the company will add OpenAI’s ChatGPT to Siri — but it’s leaving the door open for adding other chatbots. It all suggests that Apple is hedging its bets (or is simply behind its rivals), while slowly ramping up what A.I. iPhone users will be able to direct queries to the latest version of ChatGPT if Siri can’t handle them on its own.

Persons: Siri —, OpenAI, Siri can’t Organizations: Apple, Apple Intelligence, Worldwide

☆ Johnny Depp says he beat out Tom Hanks, Tom Cruise, and Michael Jackson for the starring role in 'Edward Scissorhands'
▼ + stars: | 2024-06-11 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +2 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewJohnny Depp had some stiff competition to land his now-iconic role in Tim Burton's "Edward Scissorhands." Related storiesDepp said in the docuseries even Tom Cruise "was not far away from actually playing Edward Scissorhands — true story," according to People. Barry King/WireImage/Getty"He's never going to cast me when everyone in Hollywood is after the part," Depp recalled in the docuseries.

Persons: —, Johnny Depp, Tim Burton's, Edward Scissorhands, Burton, Depp, Tom Hanks, Michael Jackson, Tom Cruise, Edward Scissorhands —, Burton —, Barry King, He's, I'm, Ed Wood, Charlie, Alice Organizations: Service, Business Locations: Hollywood, Wonderland

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