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download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The blade of an offshore wind turbine broke into pieces last week and washed ashore on tony Nantucket, the Massachusetts island favored by New Englanders and the very wealthy. Still, all Nantucket beaches were fully open by Wednesday, though the island's Harbormaster cautioned people to wear shoes and keep pets off certain areas. AdvertisementIn April, billionaire Barry Sternlicht's home was demolished due to property damage caused by erosion. It looks like snow, rain, hail, and a little wind turbine debris won't be enough to turn people off of the Gray Lady.
Persons: , tony Nantucket, Harbormaster, Barry Sternlicht's, Steve Schwarzman, Eric Schmidt, Gray Organizations: Service, New, Business, Vineyard, of Safety, Environmental Locations: Nantucket, Massachusetts, New Englanders, Martha's
Penn Entertainment will lay off about 100 employees as it focuses on growth for ESPNBet. "This led us to temporarily set aside any potential organizational changes that would typically follow a major acquisition." Penn went on to say it's embarking on a new phase of growth in its interactive business, which include ESPNBet, a $2 billion branding partnership with Disney's ESPN. Penn's release of new ESPNBet features this fall during football season should meaningfully improve its product, Jonas said, and a focus on costs indicate the company's commitment to seeing its investment yield results. Truist has a buy rating on Penn and a price target of $25.
Persons: Jay Snowden, theScore, Snowden, Penn, it's, Barry Jonas, Jonas, Truist Organizations: ESPN, Penn Entertainment, ESPNBet, PENN, CNBC, Disney's ESPN, Donerail, Penn, ESPN Bet Locations: New York
In recent decades, mental health providers began screening for “adverse childhood experiences” — generally defined as abuse, neglect, violence, family dissolution and poverty — as risk factors for later disorders. In fact, the risk of moving frequently in childhood was significantly greater than the risk of living in a poor neighborhood, said Clive Sabel, a professor at the University of Plymouth and the paper’s lead author. “Even if you came from the most income-deprived communities, not moving — being a ‘stayer’ — was protective for your health,” said Dr. Sabel, a geographer who studies the effect of environment on disease. The study, a collaboration by Aarhus University, the University of Manchester and the University of Plymouth, included all Danes born between 1982 and 2003, more than a million people. Of those, 35,098, or around 2.3 percent, received diagnoses of depression from a psychiatric hospital.
Persons: , Clive Sabel, , Sabel, hadn’t Organizations: Psychiatry, University of Plymouth, Aarhus University, University of Manchester Locations: Denmark,
Read previewLast week, the ultrawealthy flocked to Idaho for Allen & Co.'s annual Sun Valley Conference. Pops of red and the classic tech-bro vest were in at Sun Valley 2024, but the weekend's standout style trend was a smaller accessory: tinted sunglasses. AdvertisementColorful sunglasses were the hit accessory of Sun Valley 2024Oprah Winfrey and Gayle King at the Sun Valley Conference 2024. Diane von Furstenberg and Barry Diller at the Sun Valley Conference 2024. Lauren Sánchez and Jeff Bezos at the Sun Valley Conference 2024.
Persons: , Oprah Winfrey, Gayle King, Kevork Djansezian, you'll, Winfrey, Diane von Furstenberg, Barry Diller, Brian Grazer, Jeff Bezos, Lauren Sánchez, Kim Appelt, Appelt, Justin Bieber's, Pattie Mallette, Holly, you've, Holly Sharma, Linda Farrow, Gucci, Linda Farrow's, Kadri Organizations: Service, Allen & Co, Sun Valley Conference, Business, Sun, Valley Conference Locations: Idaho, Sun
Is Cutting Off Your Family Good Therapy?
  + stars: | 2024-07-14 | by ( Ellen Barry | ) www.nytimes.com   time to read: +1 min
As she struggled through her sophomore year in college, Zhenzhen spent hours in therapy, but it hadn’t addressed the central strain in her life: her parents. When she pushed back, her father screamed, she said, and her mother wept. The pressure made it hard to function, and Zhenzhen fended off thoughts of suicide. Mr. Teahan’s videos introduced her to a new idea — that to heal from childhood trauma, it may be necessary to “go no contact” from abusive parents. Around half of Mr. Teahan’s clients restrict or sever ties with their families, which he describes as “brutally hard” but, when it is appropriate, deeply rewarding.
Persons: Zhenzhen, hadn’t, badgering, , Patrick Teahan Locations: China, Massachusetts
Hugo Swart, formerly Qualcomm's head of XR, joined Google's AR group in April to lead ecosystem strategy and partner relationships. Related storiesMark Lucovsky, a senior director on Google's AR software, left last July, citing "changes in AR leadership and Google's unstable commitment and vision" to the product. "Doing anything first-party is a challenge relationship-wise," said a former Google AR team member. There is internal speculation that Samsung will be the first to also build glasses with Google's AR software, according to two employees familiar with the matter. Without a device of its own and with its AR software still in development, Google now finds itself on the back foot.
Persons: , Google, it's, Sergey Brin, Rick Osterloh, Ramin Talaie, Shahram Izadi, HoloLens, Hugo Swart, Swart, reshuffles, Jeffrey Margolis, Mark Lucovsky, Paul Greco, Barry, Betty, Harriet Google, Harriet, Said Bakadir, Iris, Apple, Kim Kulish, Meta, Anshel Sag Organizations: Service, Astra, Business, Google, Samsung, Tech, Getty, Android, Google's, Microsoft, Meta, XR, Qualcomm, Samsung Unpacked, Samsung Google, Vision, Lenovo, Moor Locations: hughlangley
Tighter lending could weigh heavily on private equity and real estate, according to Howard Marks. Experts have cautioned on commercial real estate in particular as looming debt maturities pose a risk. That's created "fundamental questions" in specific parts of the real estate market, like office and retail properties, he added. The wider commercial real estate sector has over $1 trillion in debt set to mature in 2024, per Goldman Sachs. Billionaire investor Barry Sternlicht recently said he foresaw weekly bank closures and extreme losses in commercial real estate as high interest rates impact the sector.
Persons: Howard Marks, Marks, , Banks, That's, Goldman Sachs, Barry Sternlicht Organizations: Service, Oaktree Capital Management, Bloomberg, Federal Reserve, Federal Deposit Insurance Corporation, Billionaire
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSofter labor market gives Fed incentive to cut rates 'sooner than later,' says UBS' Brian RoseMichael Kushma, Morgan Stanley Investment Management senior fixed income portfolio manager; Barry Knapp, Ironsides Macroeconomics managing partner; and Brian Rose, UBS senior economist, join CNBC's 'The Exchange' to discuss outlooks on the economy, expectation for rate cuts, and how to position.
Persons: Brian Rose Michael Kushma, Morgan, Barry Knapp, Brian Rose, CNBC's Organizations: UBS, Morgan Stanley Investment Management, Ironsides
Sung Kook (Bill) Hwang, the founder and head of the private investment firm Archegos, arrives at the Manhattan Federal Courthouse in New York City, U.S., July 9, 2024. The jury, which began deliberations on Tuesday, found Hwang guilty on 10 of 11 criminal counts and Patrick Halligan, his Archegos deputy and co-defendant, guilty on all three counts he faced. Hwang and Halligan sat flanked by their lawyers as the verdict was read by a soft-spoken foreperson. Hwang, 60, had pleaded not guilty to one count of racketeering conspiracy, three counts of fraud and seven counts of market manipulation. At its peak, prosecutors said Archegos had $36 billion in assets and $160 billion of exposure to equities.
Persons: Sung Kook, Bill, Hwang, Patrick Halligan, Halligan, Prosecutors, Andrew Thomas, Barry Berke, William Tomita, Scott Becker, Archegos Organizations: Archegos Capital Management, Prosecutors, U.S . Justice Department, U.S, Attorney's, Southern, of, Credit Suisse, UBS, Nomura Holdings Locations: Manhattan, New York City, U.S, of New York
Read previewGeorge Clooney on Wednesday called on President Joe Biden to drop out of the 2024 race just weeks after co-hosting a star-studded fundraiser for the president's campaign. "He wasn't even the Joe Biden of 2020. I'm proud of what my party represents and what it stands for," Clooney wrote. AdvertisementIn his Times column, Clooney added that he help put on, "some of the biggest fund-raisers in my party's history. Joe Biden in 2020."
Persons: , George Clooney, Joe Biden, Joe, Biden, Clooney, Reed Hastings, Barry Diller, Clooney's, Rob Reiner, Reiner, , @robreiner, he's, Nancy Pelosi, lister, Julia Roberts, Barbra Streisand, Barack Obama, Steve Ricchetti, Amal Clooney, Hillary Clinton Organizations: Service, The New York Times, Business, Hollywood, Netflix, IAC, MSNBC, Seven House Democrats, Academy, The Washington Post, Democrats Locations: Washington, Hague
Wall Street’s game theoryAs more leading Democrats say privately that President Biden should withdraw from the presidential race, some of the party’s most prominent backers on Wall Street spent the holiday weekend debating what to do next. If they favor calling for him to step back, they discussed what their next moves should be. Wall Street is taking a different approach than Hollywood. (Many are also reportedly irate at Jeffrey Katzenberg, Biden’s campaign co-chair.) And many donors want to maintain their influence within the Democratic Party.
Persons: Biden, Larry Fink, BlackRock, Robert Rubin, Jon Gray, Blackstone, Peter Orszag, Lazard, Blair Effron, Robert Wolf, Barack Obama —, DealBook, Reed Hastings, Barry Diller, Rob Reiner, Abigail Disney, Jeffrey Katzenberg Organizations: Wall, Treasury, Centerview Partners, UBS, Hollywood, Netflix, IAC, Democratic Party
Spending on travel, shopping, means 'losing money every single month'Going through their finances, Sethi found the couple has done relatively well at keeping their fixed costs in check. But a look at their discretionary spending showed that Maddie has good reason to feel anxious about their finances. "It's this compulsion to be at everything and live such a social life [that] just drains us," Paul adds. Having a big wedding for themselves is important to Maddie and Paul, as is their financial security, they reply. The idea of "keeping up with the Joneses" and lifestyle creep are common pitfalls because humans are social animals, Sethi says.
Persons: Sethi, Paul isn't, Maddie, They've, they're, Paul, It's
In past years, media companies chased high subscriber numbers in an attempt to best each other. Nathaniel S. Butler | National Basketball Association | Getty ImagesWith the NBA's media rights negotiations still ongoing, sports will remain a topic of conversation at this year's gathering. League commissioners, especially the NFL's Roger Goodell, are often attendees of the Sun Valley conference. Discovery has been weighing whether to match a competing offer for the media rights as the league looks to finalize smaller package deals. Sports remain the glue holding the traditional pay-TV bundle together, and has proven invaluable for streaming services, too.
Persons: Drew Angerer, Discovery's David Zaslav, Bob Iger, Dana Walden, Alan Bergman, Josh D'Amaro, Hugh Johnston, Ted Sarandos, Greg Peters, Andy Jassy, Jeff Bezos, Tim Cook, it's, Shari Redstone, Neil Begley, Redstone, David A, Barry Diller —, Paramount —, Jeff Shell, Max, Jonathan Miller, Begley, Sun, Mark Boidman, Dwyane Wade, Nathaniel S, Butler, Roger Goodell, Miller, Donald Trump, Joe Biden, Andrew Harnik Organizations: Getty Images Media, titans, Allen, Co, Warner Bros, Netflix, Apple, Amusements, Paramount Global, Paramount, Moody's Investors Services, Co . Media, Technology Conference, Grogan, CNBC, Media, Shell, Disney, Hulu, ESPN, Fox Corp, Integrated Media, Hollywood, Solomon Partners, Sports, NBA, National Basketball Association, Getty, League, Sun, NFL, YouTube, Amazon Locations: Sun Valley , Idaho, Sun, Idaho, Atlanta
Read previewA professor of the senses, who used to help multinational food companies create ultra-processed foods, lost weight without trying after he cut them out of his diet when he learned about their health risks. These hyper-palatable foods contain the perfect fat-to-carbohydrate ratio, which makes it near impossible for us to stop eating them, Smith said. "I was consciously cutting out ultra-processed food because of the bad things it might do for my health. He felt more energetic, full for longer, and able to stop eating when he felt full. "You're not going to persuade people to move away from ultra-processed food by telling them it's bad for them.
Persons: , Barry Smith, Ferrero, hasn't, Smith, Chris Van Tulleken, Linia Patel, Aleksandr Zubkov, It's Organizations: Service, University of London Institute of Philosophy, Business, Northeastern University's Network Science Institute, Research, Nature, Food Locations: UPFs
During closing arguments, Andrew Thomas, the prosecutor, said that Mr. Hwang had defrauded the banks and other traders in the market by artificially inflating stock prices to pump up the size of Archegos. Barry Berke, a lawyer for Mr. Hwang, said the government was criminalizing his client’s high-risk trading only because it caused losses for the banks that had lent him billions of dollars. Hwang bet on companies he believed in,” Mr. Berke said. “That is not manipulative.”Mr. Hwang, 60, is charged with 11 counts of securities fraud, wire fraud, conspiracy, racketeering and market manipulation. If convicted on all counts, he could spend the rest of his life in prison.
Persons: , Bill Hwang, Andrew Thomas, Mr, Hwang, Barry Berke, ” Mr, Berke Organizations: Archegos Capital Management Locations: Manhattan
More than half of Gen Xers say they regret not saving more for retirement. In fact, Gen Xers are at the perfect age to do just that, says Barry Glassman, a certified financial planner and founder and president of Glassman Wealth Services. Here are three things Gen Xers can start doing as soon as today to ease their retirement worries. Take care of expensive debtFor many Gen Xers, saving for retirement has been placed on the back burner as they juggle other expenses. Seventy-one percent of Gen Xers are homeowners, compared to a little over half of millennials at 52%, according to 2023 Redfin data.
Persons: Gen Xers, it's, Barry Glassman, Jason Stein, pare, Glassman, Xers, Stein, that's Organizations: Allianz, Wealth Services, Bluepoint Wealth Locations: California
Things should have been settled. The weary delegates should have already chosen a presidential nominee, packed up their Welcome to New York souvenirs and returned home in time for the nation’s celebration of what it stood for. Just a few dozen miles to the south, it was celebrating a white-nationalist Independence Day with a hood-and-robe parade right down the Broadway of a beachside New Jersey city. The simultaneous events reflected the divide over what it meant to be an American. Instead of proudly asserting who we are, that distant summer day raised a question being debated over the July Fourth weekend a century later: Who are we?
Organizations: Democratic National Convention, Ku Klux Klan Locations: New York, America, beachside New Jersey
Termessos, Turkey CNN —Alexander the Great tried to conquer Termessos but failed. He reputedly called the city an “eagle’s nest.”Later, the Romans had more success in controlling the city. Barry Neild/CNNClimbing higher up the hillside on a rocky path sprouting with fragrant wild sage, there’s more evidence of how sophisticated life in Termessos would’ve been. Further up, the upper city walls give commanding views of the forest below and offer a good vantage point over anyone trying to sneak up for an invasion. In Termessos, the location is particularly significant, as it sits opposite a mountain that was once sacred to the city’s inhabitants.
Persons: Turkey CNN — Alexander the Great, Mount Güllük, Barry Neild, would’ve, , Önder Uğuz, he’s, Termessos, We’re, , Alexander the Great, Termessos would’ve Organizations: CNN, Turkey CNN, agora Locations: Termessos, Turkey, Antalya, That’s, Machu Picchu, Mount
Media mogul Barry Diller is taking a look at acquiring National Amusements Inc., the company owned by Shari Redstone and the controlling shareholder of Paramount, CNBC's David Faber reported on Tuesday. Diller's IAC , an internet media and publishing company, has signed a nondisclosure agreement and is looking in the data room of National Amusements, Faber said Tuesday. These discussions come weeks after National Amusements stopped talks with Skydance on a proposed merger with Paramount. National Amusements, which Redstone controls, holds 77% of class A Paramount shares. Prior to calling off the proposed merger, National Amusements had agreed to financial terms of the deal, CNBC reported.
Persons: Barry Diller, Shari Redstone, CNBC's David Faber, Faber, Skydance, David Ellison's Skydance, RedBird Organizations: Paramount Global, Media, National Amusements Inc, Paramount, Diller's IAC, Amusements, IAC, National, RedBird Capital, KKR, National Amusements, CNBC Locations: Redstone
Before the refinancing, Peloton would have needed to pay around $800 million toward its debt by November 2025. Now that it has refinanced, Peloton has eased investor concerns about liquidity and has the breathing room it needs to try to turn around its business. Peloton faces risks aheadWhile the refinance may have bought Peloton some time, it's far from a panacea. Under the terms, Peloton will now be spending about $133 million annually in interest, up from around $89 million previously. As of the end of March, Peloton had about 6.6 million members — woefully behind that long-term target.
Persons: Michael Nagle, JP Morgan, Goldman Sachs, hasn't, Liz Coddington, Coddington, Evan DuFaux, Soros didn't, Neil Saunders, Barry McCarthy's, Karen Boone, Chris Bruzzo, Scott Stuart, Simeon Siegel, Siegel, John Foley, McCarthy, , McCarthy – Organizations: Interactive, Bloomberg, Getty, CNBC, Soros Fund Management, Silver Point, GlobalData, Netflix, Turnaround Management Association, BMO Capital Markets, Spotify Locations: New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's a mild case of stagflation building into Q3, says Stifel's Barry BannisterBarry Bannister, Stifel chief equity strategist, joins 'Squawk on the Street' to discuss his base case for the markets, why equities won't fall lower than correction territory, and more.
Persons: Stifel's Barry Bannister Barry Bannister
With nothing commercial to show from Boeing, which usually has its 777X and Max test jets on display, all eyes will be on European rival Airbus. AdvertisementThe XLR plane is the longest-ranged option in the A321neo family, which has outsold Boeing's 737 since 2019, when two fatal crashes grounded the plane's Max variants. According to Airbus, the XLR is uniquely equipped for long-haul flying, thanks to an extra rear center fuel tank that helps the narrowbody fly up to 5,400 miles (11 hours) nonstop. AdvertisementThe premium seating offers lie-flat beds typical to what customers find on long-haul widebody flights, and is likely to be the norm on long-haul XLRs. "Even well-established city pairs such as London-Miami or Sydney-Kuala Lumpur will benefit from the year-round sweet spot the XLR offers airlines," Airbus marketing specialist Ludek Jando said in September 2023.
Persons: , Taylor Rains, Max, American's, Jason Reisinger, Andrew Nocella, Willy Boulte, Barry Biffle, Ludek Jando Organizations: Service, Alaska Airlines, Max, Farnborough, Business, Boeing, Airbus, American Airlines , Frontier Airlines, JetBlue Airways, United Airlines, Qantas, AirAsia X, Sky Airline, Czech Airlines, Air Canada, Airlines, JetBlue, Spanish, Washington Dulles, American Airlines, Frontier Locations: Alaska, Iberia, Malaysian, Chile, East Coast, Europe, Madrid, Boston, Washington, Dulles, Raleigh , North Carolina, London, Charlotte, New York, Asia, Beijing, Seoul, Amsterdam, South America, Hawaii, Miami, Sydney, Kuala Lumpur
It’s unclear how far along the talks between IAC and National Amusements are. A bid to take control of Paramount would be a coda of sorts for Mr. Diller, 82, who tried to acquire Paramount Pictures in the early ’90s. Mr. Diller was named head of Paramount Pictures in 1974 at the age of 32. After Mr. Redstone outbid him for the company, Mr. Diller set his sights on continuing to build his new media empire, striking a series of audacious deals to expand IAC. “They won,” Mr. Diller said in a statement after losing out to Mr. Redstone.
Persons: Edgar Bronfman Jr, Steven Paul, Diller, Sumner Redstone, Shari, rejuvenating, Michael Eisner, wunderkind Jeffrey Katzenberg, ” Mr, Shari Redstone Organizations: IAC, National, Hollywood, Paramount, Paramount Pictures, Disney, , Amusements, Skydance, National Amusements
Rapid7 Managed Threat Complete is the company's flagship offering, and it includes the Rapid7 Managed Detection and Response program. Activist Commentary: Jana is a very experienced activist investor founded in 2001 by Barry Rosenstein. The firm made its name taking deeply researched activist positions with well-conceived plans for long term value. Rapid7 is a cybersecurity company that expands the expertise of its clients' security operations. In addition, to shift from pure growth to a profitable software company, Rapid7 has focused on meeting targets for $160 million in free cash flow and improved margins.
Persons: Rapid7, Jana, Barry Rosenstein, Rosenstein, Tenable, It's, Corey Thomas, Cannae, Bradstreet, Ken Squire Organizations: VM, National Security Telecommunications Advisory, Federal Reserve Bank of Boston, Foreign Relations, of Massachusetts, LPL Financial, Vanderbilt University, Francisco Partners, Sumo, Cannae Holdings, 13D Locations: Splunk, Rapid7
When the Los Angeles Lakers selected Bronny James, 19, in the second round of the N.B.A. Next season, he could play in the same lineup as his father, the 39-year-old superstar LeBron James. The Ageless Gordie Howe and SonsGordie Howe retired from hockey at age 43 after an illustrious career. But when his sons Mark and Marty joined the Houston Aeros of the World Hockey Association three seasons later, he could not resist. “They knew my greatest wish has always been to play pro hockey with my sons,” he said, “and when they asked me, ‘Would you be interested?’ I said, ‘Hell, yes.’”
Persons: Bronny James, LeBron James, Bobby, Barry Bonds, Peter, Kasper Schmeichel, Pamela, JaVale, Imani McGee, Gordie Howe, Mark, Marty, , , Organizations: Los Angeles Lakers, Houston Aeros, World Hockey Association
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