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A criminal investigation into the former commissioner of New York City’s Buildings Department has reached its final stages and charges are expected as soon as this week, according to three people with knowledge of the inquiry. The commissioner, Eric Ulrich, resigned in November shortly after investigators with the Manhattan district attorney’s office seized his cellphone and then interviewed him the next day. The inquiry continued after his resignation, with the prosecutors focusing on crimes related to bribery that occurred when Mr. Ulrich was still in office. A spokeswoman for the district attorney’s office declined to comment. A lawyer for Mr. Ulrich, Samuel M. Braverman, said that until he knew what the indictment contained, he would not comment.

Persons: Eric Ulrich, Ulrich, Samuel M, Braverman Organizations: Buildings Department Locations: New York, Manhattan

☆ Don't expect Nvidia's rally to lose steam, Citi says
▼ + stars: | 2023-07-17 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Analyst Atif Malik raised his price target by $100 to $520 while maintaining his buy rating. That share price would be more than four times higher where the stock finished 2022. But neither his price target or bull case are considered outlandish for the stock. Though both are above the average analyst's price target of $479.22, neither exceeds the highest price target on Wall Street of $767 per share, according to Refinitiv. In addition to the price target hike, Malik also raised his outlook for earnings per share in upcoming years.

Persons: Atif Malik, Malik, Maik, — CNBC's Michael Bloom Organizations: Nvidia, Citi, Devices Locations: Friday's, China

☆ U.S. lawmakers extend social media investigation to Meta's Threads
▼ + stars: | 2023-07-17 | by ( Lauren Feiner | ) www.cnbc.com time to read: +4 min

The letter, obtained exclusively by CNBC, is an early indication of the added spotlight Meta's newest product could bring to the company in Washington. "Indeed, Threads raises serious, specific concerns because it has been marketed as rival of ElonMusk's Twitter, which has faced political persecution from the Biden Administration followingMusk's commitment to free speech," Jordan wrote. On July 4, a federal judge in Louisiana granted in part a preliminary injunction in that suit that barred several Biden administration officials from meeting with social media companies to encourage them to remove or delete posts. It also prevented those officials from even flagging certain kinds of social media posts to the companies to encourage their removal or suppression. On Friday, an appeals court agreed to put a temporary pause on the preliminary injunction, meaning government flagging of social media posts could resume until the court further considers the case.

Persons: Jim Jordan, Jerrold Nadler, John Durham, Mark Zuckerberg, Biden, Elon Musk, Jordan, Twitter, Meta Organizations: CNBC, Twitter, Meta, Elon, Wall, Federal Trade Commission, Biden, State Department, Facebook, Washington Post, Apple, Google, Microsoft Locations: Ohio, Rayburn, Washington, Missouri, Louisiana

☆ Morning Bid: Bland China data leaves market hungry for stimulus
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +2 min

The Q2 GDP number of +0.8% q/q just pipped forecasts, but y/y undershot at 6.3% suggesting revisions somewhere to the past. The market reaction was disgruntled with Chinese shares down and the yuan easing. The data underlined the need for much more serious fiscal spending but Beijing seems in no hurry to satiate market wishes this time. The central bank left one-year rates unchanged on Monday, and analysts seem resigned to wait for a Politburo meeting later this month for fresh steps. Goldman Sachs says passive funds that track NDX will rebalance their portfolios but the 2011 special rebalance experience suggests the stock-level impact will be limited.

Persons: Wayne Cole, BofA, Goldman Sachs, Fabio Panetta, Christine Lagarde, Frank Elderson, Philip R, Jacqueline Wong Organizations: Investors, Aussie, Tesla, Nasdaq, Microsoft, Finance Ministers, Central Bank Governors, ECB, Federal Reserve Bank of New, Manufacturing Survey, Thomson Locations: Wayne, China, Beijing, 4ppt, Gandhinagar, India, Federal Reserve Bank of New York

☆ In ‘Secret Invasion,’ Ben Mendelsohn Faces a Turning Point
▼ + stars: | 2023-07-17 | by ( Christopher Kuo | More About Christopher Kuo | ) www.nytimes.com time to read: +2 min

So far Marvel’s TV series have taken different forms and explored a variety of issues. When I think about the show I think about it through the Nick Fury lens. What I really love is how different Fury is, how different the world is post Infinity Gauntlet and what that does to loyalty. Yeah that was such a genius flip from Marvel to have Fury [in “Spider-Man: Far From Home”] be Talos the entire time. Do you think Talos is too optimistic about the humans and the Skrull coexisting?

Persons: Nick Fury, Marvel ”, Talos, Fury, they’ve, Kingsley Ben, Emilia Clarke Organizations: Marvel

☆ At N.Y.C. Police Union, Will the New Leader Be a Lot Like the Old One?
▼ + stars: | 2023-07-17 | by ( Chelsia Rose Marcius | More About Chelsia Rose Marcius | ) www.nytimes.com time to read: +1 min

Patrick Hendry, the new head of New York City’s police officers’ union, has much in common with his predecessor: Their mothers are from Ireland. They grew up in Queens, the sons of union men. And they believe a police union must defend officers, even those accused of wrongdoing. For nearly a quarter century, the booming voice of Mr. Lynch, who stepped down June 30, made the union a key player in New York politics. Now Mr. Hendry, 51, who is untested as a public figure, must decide whether he will deviate from that path.

Persons: Patrick Hendry, Hendry, Patrick J, Lynch, Rudolph W, Giuliani, Bill de Blasio, Donald J, Trump, watchdogs Organizations: Police Benevolent Association, Department Locations: York, Ireland, Queens, New York

☆ Here are Monday's biggest analyst calls: Apple, Pepsi, Yelp, Chewy, Netflix, Nvidia, Tesla, Meta and more
▼ + stars: | 2023-07-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

"We are initiating coverage with an ONON with an Outperform rating and $38 price target. Citi opens a positive catalyst watch on Valvoline Citi opened a positive catalyst watch on Valvoline and says it has robust fundamentals. "We open a 30-day upside catalyst watch based on strong fundamentals and the stock's relative under-performance post completion of the Dutch tender offer on 6/8." Citi opens a positive catalyst watch on Bank of New York Mellon Citi opened a positive catalyst watch on the investment bank ahead of earnings Tuesday. Morgan Stanley reiterates Apple as overweight Morgan Stanley raised its price target on Apple to $220 from $190 and says India is the company's "next frontier."

Persons: TD Cowen, Cowen, Goldman Sachs, it's, Wells, Tesla, Wells Fargo, Morgan Stanley, Apple, Morgan Stanley downgrades Conagra, Morgan Stanley downgrades Pepsi, Raymond James downgrades, Raymond James, Bernstein, Aramark, Oppenheimer Organizations: Citi downgrades AT, Citi, Valvoline Citi, Bank of New York Mellon Citi, BK, Nvidia, Deutsche Bank, Netflix, Baidu, Apple, Pepsi, Barclays, LT, JPMorgan, Bank of America, Zynga, NXP Semiconductors, Intel Citi, Intel, AMD, Meta, Suisse, Arista Networks, ISI Locations: eCommerce, China, India, Apple India

☆ Trump's campaign sent DeSantis donors a list of all of his struggles thus far
▼ + stars: | 2023-07-17 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +2 min

Former President Donald Trump's campaign has found a new way to troll Ron DeSantis. Top Trump advisors wrote to DeSantis' donors with a list of his struggles. Ron DeSantis' donors, urging them to press the GOP presidential hopeful on his campaign's struggles thus far. "The numbers suggest, for the first time, that solvency could be a threat to DeSantis' campaign," the memo read, quoting an NBC report about how DeSantis' campaign is strapped for cash. In response, DeSantis' campaign pointed to a statement touting its $20 million haul in six weeks.

Persons: Donald Trump's, Ron DeSantis, Top, DeSantis, Chris LaCivita, Susie Wiles, Trump's, –, Generra Peck, Trump Organizations: Top Trump, Service, Florida Gov, Trump, GOP, NBC, New York Times, Politico Locations: Wall, Silicon, Florida

☆ Opinion | At the University of Chicago: Was It Free Speech, or Harassment?
▼ + stars: | 2023-07-15 | by ( ) www.nytimes.com time to read: +1 min

If contact information is disseminated about an individual, be it an email address, a phone number or a street address, it’s not reporting. It took me about 30 seconds to come up with “The Problems of Defining Whiteness,” “The Ambiguity of Whiteness” or “The Fluidity of Whiteness” as more authentic titles. Journey as a way to help her end a truly senseless controversy in time for the course to be taught. To borrow a word from the article, if Dr. Journey has prepared a solid, interesting course, it doesn’t need a “provocative” title inconsistent with its content.

Persons: it’s, It’s, David Friedman St, Rebecca Journey, I’m, Journey, Dallas Lea Alexandria Locations: James, La

☆ Elon Musk's scheme to pay big Twitter accounts is rewarding his favorite trolls but probably won't entice major creators
▼ + stars: | 2023-07-14 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +5 min

Twitter announced Thursday it would start sharing ad revenue with some creators. Elon Musk has started sharing Twitter's ad revenue with a handful of accounts, hoping to incentivize the best creators to put their content on his platform. Twitter announced Thursday that creators would now be eligible to some of the company's ad revenue, "to help people earn a living directly" on the platform. But on the rare occasion Donaldson reveals how much ad revenue he makes, it is surprisingly little. Ad revenue traditionally aids smaller accounts who don't have their own brand deals — YouTube monetization is open to anyone with 1,000 subscribers.

Persons: Twitter, Elon Musk, Taylor Lorenz, Andrew Tate, Ian Miles Cheong, Rogan O'Handley, Tate, Wokeness, He's, It's, Linette Lopez, Paul, — Jimmy Donaldson, MrBeast —, Donaldson, Honey Organizations: Morning, Twitter, Washington Post, YouTube, CSGO Lotto Locations: Romania, TikTok, YouTube, Twitter's

He was expected to be arraigned Friday after his arrest Thursday night in Manhattan, said Suffolk County Police Commissioner Rodney K. Harrison. "We anticipate an indictment later on this afternoon," said Harrison, whose agency and the Suffolk County district attorney are leading the investigation. According to NBC New York, Gilbert was not the only victim who was a sex worker. In May 2022, Suffolk County police released 911 audio related to Gilbert's disappearance. The development comes after a multi-agency task force made up of FBI, New York State Police and Suffolk County authorities was established in February 2022 to "reinvigorate" the investigation.

Persons: Rex Heuermann, Rodney K, Harrison, Shannan Gilbert, Sherre Gilbert, I'm, Rex, Steve Bellone, Emma Tang, Melissa Barthelemy, Megan Waterman, Amber Lynn Costello, Maureen Brainard, Jessica Taylor, Taylor, Valerie Mack, Mack, Gilbert, Joseph Brewer, Gilbert didn't, Michael Pak, Mike, Brewer, Pak, let's Organizations: Suffolk County Police, NBC News, Attorney's, News, NBC, FBI, New York State Police Locations: Long, Massapequa, N.Y, Manhattan, Suffolk County, New York City, Nassau County, Suffolk, Gilbert, New Jersey, Oak Beach, Barnes, Manorville, Gilbert's, NBC New York

Rep. Ronny Jackson (R-TX) speaks during a press conference on the National Defense Authorization Act (NDAA) with members of the House Freedom Caucus on July 14, 2023 in Washington, DC. The House narrowly passed an annual defense policy bill on Friday after Republicans added provisions on abortion and transgender surgeries — measures that were a nonstarter for Democrats. The amendments, adopted Thursday, would ban the secretary of defense from paying for or reimbursing service members for abortion-related expenses and transgender surgeries and hormone treatments. House Democratic leaders said Thursday that members of their caucus will vote against passing the bill. The defense legislation will eventually need to be reconciled with a version of the bill under consideration in the Senate.

Persons: Ronny Jackson, Ken Buck, Ken Buck of Colorado, Andy Biggs, Eli Crane of, Thomas Massie of, Henry Cuellar, John Duarte of, Brian Fitzpatrick, Matt Rosendale, Joe Biden's, Hakeem Jeffries, Sen, Tommy Tuberville, Scott Perry, We're, Perry, Pete Aguilar, I've, Pat Ryan Organizations: National Defense, Caucus, Democrats, Four, Rep, Texas Democrat, Republicans, Department of Defense, Defense Department, Democratic, House Democratic, Senate, GOP, House Armed Services Committee Locations: Washington ,, Ken Buck of, Eli Crane of Arizona, Thomas Massie of Kentucky, Texas, John Duarte of California, Pennsylvania, D

☆ Tesla's Shanghai factory workers welcome bonus increase after record deliveries
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Aly Song/File PhotoSHANGHAI, July 14 (Reuters) - Several workers at Tesla's (TSLA.O) Shanghai plant, its biggest manufacturing hub globally by output, said they had been awarded a large increase in their latest quarterly performance bonuses. Three workers told Reuters that they had received bonuses of 1.5 times of monthly base salary for the second quarter. This was higher than the quarterly bonuses - 1.2 times the monthly salary - that the majority of workers used to receive for average performance, the workers said. One of the workers said that his performance bonus had doubled this month on the first quarter, when it was cut to 0.785 times the month salary. But the move comes after Tesla delivered 247,000 units of China-made electric vehicles in the second quarter, the highest level since its Shanghai plant opened.

Persons: Aly, Elon Musk, Tesla, Musk, Zhang Yan, Brenda Goh, Zhuzhu Cui, Louise Heavens Organizations: REUTERS, U.S, Reuters, Thomson Locations: Shanghai, China, SHANGHAI, Tesla's

☆ Investors count on upward market momentum in the week ahead as earnings rain down
▼ + stars: | 2023-07-14 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Stocks could continue to gain momentum in the week ahead as traders turn their attention to earnings results after the past week's softer inflation news. The major benchmarks are headed for a positive week Friday after encouraging consumer and wholesale inflation in June cemented the likelihood that the Federal Reserve is closer to the end of its rate-hiking campaign. Some market participants expect this period could mark the trough for earnings, and urge traders to pay more attention to forward guidance. "And that's a great sign for the market and market health." ET: NAHB housing market index (July) Earnings: Bank of America , Morgan Stanley , Bank of N.Y. Mellon , Lockheed Martin , PNC Financial , J.B. Hunt Wednesday 8:30 a.m.

Persons: Sage, Rob Williams, Sam Stovall, gee, Stovall, It's, Yung, Yu Ma, MRB, Sage Advisory's Williams, Williams, Morgan Stanley, Wells, Baird's Ross Mayfield, Lockheed Martin, Baker Hughes, Goldman Sachs, Kinder Morgan, Equifax, Johnson Organizations: Federal Reserve, Traders, Reserve, Open, BMO Wealth Management's, MRB Partners, Bank of America, JPMorgan Chase, Investors, Bank, N.Y, Mellon, Lockheed, PNC Financial, J.B, Hunt, Housing, Nasdaq, Citizens Financial, Halliburton, Las Vegas Sands, IBM, Tesla, Netflix, American Airlines, United Airlines, CSX, Comerica, PPG, Roper Technologies, American Locations: Wells Fargo, Silicon Valley, Las Vegas, Horton

☆ Here are Friday's biggest analyst calls: Apple, Nvidia, AT&T, Tesla, Disney, Amazon, Microsoft & more
▼ + stars: | 2023-07-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

JPMorgan downgrades AT & T to neutral from overweight JPMorgan downgraded the telecommunications due to "slowing growth drivers." Wells Fargo downgrades Progressive to equal weight from overweight Wells said it has concerns about the insurance company gaining share. UBS upgrades Microsoft to buy from neutral UBS said in its upgrade of the stock that shares are too attractive to ignore. Bank of America reiterates Amazon as buy Bank of America said it's standing by its buy rating after the company's Prime Day. JPMorgan reiterates Apple as overweight JPMorgan said recent checks show that Apple has "strong market share" in a variety of markets.

Persons: LOE, Wells, it's, Tesla, Morgan Stanley, Goldman Sachs, Goldman, Raymond James, Robert Iger, Mills, Argus Organizations: HSBC, Pfizer, ADC, JPMorgan downgrades, Verizon, Mobile, Consumer, JPMorgan, Alcoa, UBS, Microsoft, Citi, Applied Materials Citi, Bank of America, Texas Roadhouse Citi, Texas, Barclays, Apple, Sands, Macau, Northland, Nvidia, Pulte, KB, Disney, CNBC, DIS, Argus, TNT, Tidewater Locations: Wells Fargo, China, Northland

☆ Man Shot Dead by Police After a Report of Stolen Fruit
▼ + stars: | 2023-07-13 | by ( Erin Nolan | More About Erin Nolan | ) www.nytimes.com time to read: 1 min

It’s impossible for Raymond Fowler to explain how it felt to learn a police officer shot his only son after he was accused of taking a few dollars’ worth of fruit, he said. “Words can’t describe the moment when I heard what happened,” Mr. Fowler said. He was accused of eating a few grapes and a banana and leaving without paying, the lawyer representing Mr. Garris’s family said. The New Rochelle Police Department said Mr. Garris was shot when he tried to grab a gun from an officer’s holster. It released body camera footage that shows the events leading up to the shooting but cuts off before it takes place.

Persons: Raymond Fowler, ” Mr, Fowler, “, Mr, Fowler’s, Jarrell Garris, Garris’s, Garris Organizations: New Rochelle Police Locations: New Rochelle, N.Y, New York City

☆ MTG has been avoiding the chair of the GOP Freedom Caucus in an attempt not to get kicked out, report says
▼ + stars: | 2023-07-13 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +3 min

Rep. Marjorie Taylor Greene has been ousted from the GOP Freedom Caucus, a member told NBC. One member told NBC she had been kicked out because of her feuding with other members. "She's not a member of the Freedom Caucus, and she shouldn't be in the future," Buck told NBC. "She has consistently attacked other members of the Freedom Caucus in an irresponsible way, and as a result of that she was kicked out of the Freedom Caucus." And I guess the Freedom Caucus does a good job of talking to you more than [their] members," she told reporters on Tuesday, according to the Hill.

Persons: Marjorie Taylor Greene, MTG, Georgia —, Ken Buck, Greene, Buck, Lauren Boebert, Kevin McCarthy, Scott Perry of, Greene —, haven't, Perry, y'all, McCarthy, Axios Organizations: GOP, Caucus, NBC, Service, NBC News, Freedom Caucus, CNN Locations: Wall, Silicon, Georgia, Ken Buck of Colorado, Colorado, Scott Perry of Pennsylvania

☆ Call It Dance, Puppetry or Sculpture, It Is Eerily Beautiful
▼ + stars: | 2023-07-13 | by ( Dawn Chan | ) www.nytimes.com time to read: +1 min

A classic marionette might have eight to 10 strings. Leah Ogawa’s latest puppet, an ethereal tree-shaped form, has more than 600: clustered into thickets and tangles, threaded through eye bolts on the ceiling, and fanning out overhead to all corners of the room. Or you could call it a dance performed amid a landscape of strange props. Or a kinetic sculpture activated from the sidelines. Throughout the 21-minute arc of “Divine Generations,” a silent four-person ensemble pulls and unspools various cords around the room, to coax inert disc-shaped elements into a wakeful upward dance.

Persons: Leah Ogawa’s, Ogawa, John Tsung, ”, Tsung, John Adams – Locations: KinoSaito, Lower Hudson Valley, Verplanck

☆ China's Q2 GDP seen rising 7.3% y/y but on low base, recovery fades: Reuters poll
▼ + stars: | 2023-07-13 | by ( Kevin Yao | ) www.reuters.com time to read: +4 min

Economic growth is likely to slow to 4.8% in the third quarter and 5.3% in the fourth, with full-year growth expected to reach 5.5%, the poll showed. China's central bank on Monday extended until the end of 2024 some policies which were unveiled in a November rescue package to shore up the real estate sector, including loan repayment extensions for developers. Analysts polled by Reuters expect the central bank to cut banks' reserve requirement ratio (RRR) by 25 basis points in the third quarter, while keeping benchmark lending rates steady. The central bank cut the RRR - the amount of cash that banks must hold as reserves - in March. But the central bank is likely to be wary of cutting lending rates further.

Persons: it's, Zhang Yiping, Li Qiang, Devayani Sathyan, Susobhan Sarkar, Jing Wang, Kevin Yao, Kim Coghill Organizations: Beijing, Reuters, Gross, China Merchants Securities, stoke, Thomson Locations: China, BEIJING, Bengaluru, Shanghai

☆ Biden's labor secretary pick may not have the votes. She also may not need them.
▼ + stars: | 2023-07-13 | by ( Liz Brown-Kaiser | Sahil Kapur | ) www.cnbc.com time to read: +7 min

The Senate is stalled on President Joe Biden's pick for secretary of labor, Julie Su, and Democrats face a conundrum on how to proceed. But Su, who currently serves as the acting labor secretary, could just keep running the department anyway. Federal law places no limits on how long Su can serve as acting labor secretary without being confirmed. He said he wants a voice for "both labor and industry" in the labor secretary role. Any Senator who voted to confirm Secretary [Marty] Walsh should vote to confirm Acting Secretary Su, too.

Persons: Julie Su, Joe Biden's, Su, Biden, Sen, Bernie Sanders, Kyrsten Sinema, Jon Tester, Joe Manchin, pushback, there's, Mazie Hirono, haven't, She's, she'll, she's, Mark Kelly, John Hickenlooper, I'm, Su aren't, Tester, you've, Manchin, Bill Cassidy of, Sinema, Tammy Duckworth, Marty, Walsh, We're, Sherrod Brown, Elizabeth Warren of, Chuck Schumer Organizations: Health, Education, Labor, Capitol, Labor Department —, Pensions, Su's, Democrats, HELP, Su's Democratic, White, Department, Democratic Locations: Washington, American, Sens, Hawaii, Bill Cassidy of Louisiana, Sherrod Brown of Ohio, Elizabeth Warren of Massachusetts

☆ Here are Thursday's biggest analyst calls: Tesla, Spotify, Netflix, Chevron, Carvana, Coinbase & more
▼ + stars: | 2023-07-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Thursday's biggest calls on Wall Street: TD Cowen upgrades Meta to outperform from market perform TD Cowen said it sees further share gains ahead for Meta. TD Cowen reiterates Amazon as outperform TD said it's bullish heading into Amazon earnings later this month. Deutsche Bank reiterates Microsoft as buy Deutsche said the stock is "set up nicely" heading into earnings later this month. " Bank of America reiterates Tesla as neutral Bank of America said it's standing by its neutral rating heading into earnings next week. BMO reiterates Chevron as outperform BMO said in a note on Thursday that it likes the oil and gas giant's capital return.

Persons: Cowen, TD Cowen, it's, Stifel, Coinbase, JPMorgan downgrades, Morgan Stanley, Cboe, Morgan Stanley downgrades SoFi, Tesla, Domino's, Robert Iger, Oppenheimer Organizations: Meta, Energy Fuels, Clean Energy Fuels Corp, Barclays, JPMorgan, Spotify, Deutsche Bank, Microsoft, Deutsche, BMO, Netflix, " Bank of America, of America, Suisse, Credit Suisse, Bank of America, Disney, ESPN, Chevron Locations: China

☆ SunPower shares can more than double after recent sell-off, Raymond James says
▼ + stars: | 2023-07-12 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

It's time to buy the recent weakness in SunPower , Raymond James said. SPWR 1D mountain SunPower shares 1-day SunPower shares are down by more than 45% this year, a sell-off that the analyst views as "excessive." The sell-off is driven in part by the firm's exposure to California, which earlier this year passed NEM 3.0. That points to further growth for residential solar ahead. Thus, we look at the recent underperformance in SunPower shares as a buying opportunity."

Persons: Raymond James, Pavel Molchanov, Molchanov, SunPower, Michael Bloom Locations: SunPower, California, U.S, Germany, Australia

☆ What is flood insurance, and why do you need it?
▼ + stars: | 2023-07-12 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +7 min

But only four property owners in the entire town have active flood insurance policies. In the United States, FEMA has traditionally provided all flood insurance plans through the National Flood Insurance Program (NFIP). According to the Insurance Information Institute, an industry trade group, Florida, Louisiana and Texas account for 40% of all flood insurance policies nationwide. The origin of this exclusion can be traced to the 1968 National Flood Insurance Act, which established the NFIP. For example, in Miami, flood insurance can sometimes rival the amount that people pay for homeowners insurance, according to the Insurance Information Institute.

Persons: Kathy Hochul, ”, David Maurstad, it’s, Laura Lightbody, John Minchillo, Michael Barry, Barry, ’ ”, Lightbody, ” Lightbody, it’ll Organizations: CNN, Gov, Federal Emergency Management Agency, FEMA, National Flood Insurance, Flood, Insurance Information Institute, Pew, Trusts, Insurance, Institute’s, Flood Insurance Locations: Highlands , New York, ”, West, United States, America, Miami, Florida , Louisiana, Texas, Highland Falls, N.Y, New, Hudson

☆ 'This fight is not over': What to know about Biden's new plan to forgive student debt
▼ + stars: | 2023-07-12 | by ( Annie Nova | ) www.cnbc.com time to read: +5 min

President Joe Biden announces new actions on June 30, 2023 to protect borrowers after the Supreme Court struck down his student loan forgiveness plan. Biden had hoped to move quickly canceling people's student debt, promising people the relief within six weeks of them completing their paperwork. Unlike Biden's first attempt to forgive student debt quickly through an executive order, this time he's turning to the rulemaking process. It's unlikely that Biden's Plan B for student loan forgiveness will be successful, Kantrowitz said. He expects the president's second attempt at forgiving student debt to be met by many of the same lawsuits as the first.

Persons: Joe Biden, Chip Somodevilla, overreach, John Roberts, Roberts, Biden, Lyndon B, Johnson, Chuck Schumer, didn't Biden, Herrine, Trump, Biden's, Kantrowitz, Luke Herrine Organizations: U.S . Department of Education, Republican, Supreme, GOP, South Carolina —, Job, Network Foundation, Biden, . Nebraska, Education Department, Higher, University of Alabama Locations: delinquencies, — Nebraska , Missouri , Arkansas , Iowa , Kansas, South Carolina, .

☆ FDA to review Schumer's concerns about YouTube stars' Prime Energy drink
▼ + stars: | 2023-07-12 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, August 29, 2020. WASHINGTON — The Food and Drug Administration will address concerns raised by Senate Majority Leader Chuck Schumer about a caffeinated energy drink popular among teens. An agency spokesperson said it "is reviewing the concerns" outlined in Schumer's letter to FDA Commissioner Dr. Robert Califf about the dangers of Prime Energy, a beverage founded by YouTube stars Logan Paul and KSI. Prime Energy is not intended for anyone under the age of 18, according to a company representative. Prime Energy boasts 200 mg of caffeine.

Persons: Chuck Schumer, Robert Califf, Logan Paul, KSI, Schumer, Paul, Annika Kim Constantino Organizations: Food and Drug Administration, FDA, WASHINGTON, Drug Administration, Energy, YouTube, Prime Energy, American Academy of Child, Psychiatry Locations: White Oak , Maryland

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