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☆ I'm a retired pilot who worked for royalty. I had no idea how the rich spent their money.
▼ + stars: | 2024-09-19 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +4 min

Read previewThis as-told-to essay is based on a conversation with Kent Davis, a retired Air Canada pilot with more than 40 years of experience. AdvertisementA prime minister, movie stars, and royaltyIn 1972, I joined Air Canada and spent 33 years flying for them. In 2005, I retired from Air Canada and was hired by Prince Alwaleed Bin Talal, a Saudi prince based in Riyadh. Kent Davis flew Prince Al Waleed bin Talal (pictured) and his family around the world. I'm mostly retired now, except for some consulting work with my company, Trans Global Aviation Solutions.

Persons: —, Kent Davis, Prince Alwaleed Bin Talal, Prince Al Waleed bin Talal, CHRISTOPHE ENA, George W, Bush, I'm Organizations: Service, Air Canada, Business, Aviation, Royal Canadian Navy, Navy, Airbus, Boeing, Air India, Trans Global Aviation Solutions Locations: Montreal, Saudi, Riyadh, New York, Republic of Georgia, Greater Caucasus

☆ Elon Musk’s X and Starlink face nearly $1 million in daily fines for alleged ban evasion in Brazil
▼ + stars: | 2024-09-19 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +4 min

Elon Musk's X faces steep daily fines in Brazil for allegedly evading a ban on the service there, according to a statement from the country's supreme court on Thursday. The court said it would continue to impose "joint liability" on Starlink, the satellite internet service owned and operated by SpaceX, Musk's aerospace venture. Brazil previously withdrew money for fines it levied against X from the accounts of X and Starlink at financial institutions in the country. X said it wasn't intending to restore access for Brazilian users. Before the suspension, X had an estimated 22 million users in Brazil, according to Data Reportal.

Persons: Elon Musk's, Brazil's, Alexandre de Moraes, X, de Moraes, Darth Vader, Harry Potter, Voldemort, Musk, Correio, Cloudflare didn't Organizations: Supremo, Federal, SpaceX, Cloudflare, CNBC Locations: Brazil, India, Turkey, Hungary

☆ Home sales slumped to lowest August level since 2010. But they’re poised to soar after the Fed finally cut interest rates
▼ + stars: | 2024-09-19 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington CNN —Sales of previously owned homes in the United States fell sharply in August, despite mortgage rates plummeting that month. Lower borrowing costs will likely entice buyersMortgage rates could very well come down even more, but that would depend on economic data making it clear that the Fed would cut rates further. The Fed doesn’t control mortgage rates, but its action do influence them through movements in bond yields. Mortgage rates track the 10-year US Treasury yield, which moves in anticipation of the Fed’s decision on rates. Yun told reporters it could take three or four months for lower mortgage rates to boost demand for housing.

Persons: ” Yun, ”, Daniele Hale, “, we’re, Freddie Mac, Yun, ‘ I’m Organizations: Washington CNN —, Federal Reserve, National Association of Realtors, Fed, Treasury Locations: United States

☆ Harrods ‘utterly appalled’ by allegations that former owner Mohamed Al Fayed raped staff
▼ + stars: | 2024-09-19 | by ( Catherine Nicholls | ) edition.cnn.com time to read: +2 min

London CNN —The high-end London department store, Harrods, said Thursday that it is “utterly appalled” by allegations of abuse – including rape – perpetrated by its former owner, the late billionaire Mohamed Al Fayed. More than 20 female ex-Harrods employees have accused Al Fayed, who died last year at age 94, of sexually assaulting them, according to an in-depth BBC investigation. One said she was assaulted when she was 15 and Al Fayed was 79. Stefan Kiefer/imageBROKER/ShutterstockIn 2008, Al Fayed denied allegations of sexual assault on a girl under the age of 16. This process is still available for any current or former Harrods employees.”

Persons: Mohamed Al Fayed, Al Fayed, Al, Duke of Windsor, Al Fayed’s, Dodi Fayed, Princess Diana, Fayed’s, ” “, Tony Leeming, Stefan Kiefer, imageBROKER, ” Organizations: London CNN, Harrods, Ritz, Villa Windsor, BBC, Police, ” Harrods Locations: London, Harrods, Paris, British, Paris .

☆ World War II Historian Rates WWII Movie Battles
▼ + stars: | 2024-09-19 | by ( Ian Phillips | Korey Isbell | ) www.businessinsider.com time to read: +1 min

Historian John McManus rates the accuracy of World War II battles in movies and TV shows. He describes the many challenges of the Battle of Okinawa as portrayed in "Hacksaw Ridge," starring Andrew Garfield, Vince Vaughn, and Sam Worthington. He compares the portrayals of the Battle of Iwo Jima in Clint Eastwood's "Flags of Our Fathers," starring Ryan Phillippe, Adam Beach, and Paul Walker; and "Letters From Iwo Jima," starring Ken Watanabe. He discusses World War II-era munitions in "The Pacific," starring Joseph Mazzello and Rami Malek. He breaks down the tank battles in "Battle of the Bulge," starring Henry Fonda and Charles Bronson.

Persons: John McManus, Austin Butler, Barry Keoghan, Andrew Garfield, Vince Vaughn, Sam Worthington, Clint Eastwood's, Ryan Phillippe, Adam Beach, Paul Walker, Ken Watanabe, Joseph Mazzello, Rami Malek, Michael Bay's, Ben Affleck, Josh Hartnett, Alec Baldwin, Nicolas Cage, Mark Ruffalo, Henry Fonda, Charles Bronson, Sean Penn, Jared Leto Organizations: Business Locations: Okinawa, Iwo Jima

☆ Watch: Biden delivers remarks at the Economic Club of Washington, D.C.
▼ + stars: | 2024-09-19 | by ( Josephine Rozzelle | ) www.cnbc.com time to read: 1 min

[The stream is slated to start at 1:15 p.m. Please refresh the page if you do not see a player above at that time.] President Joe Biden is speaking at the Economic Club of Washington, D.C., on Thursday, where he is expected to celebrate falling inflation and interest rates. The president's remarks come the day after the Federal Reserve announced its decision to cut interest rates by a surprisingly aggressive 50 basis points. "The declines in inflation and interest rates are welcome, but no one's declaring victory," National Economic Council Director Lael Brainard told reporters ahead of Biden's remarks.

Persons: Joe Biden, Lael Brainard, Biden's Organizations: Economic, of Washington, of Washington , D.C, Federal Reserve Locations: of Washington ,

☆ 'We can’t allow the cultural infrastructure to literally crumble': One of London's most popular arts attractions needs a $200 million fix
▼ + stars: | 2024-09-19 | by ( Lucy Handley | In | ) www.cnbc.com time to read: +7 min

The exterior of the Hayward Gallery, part of the Southbank Centre. "We can't allow the cultural infrastructure to literally crumble in our hands, because ... without investment, it won't be here," Ball told CNBC. (The neighboring National Theatre and British Film Institute Southbank are not part of the Southbank Centre.) During his first year at the Southbank Centre, he oversaw more than 5,400 events and shows. "Thinking Fountains," an installation by German artist Klaus Weber, outside the Hayward Gallery at the Southbank Centre.

Persons: Norman Engleback, Michelle Obama, Anish Kapoor, Tracey Emin, Nina Simone, Elaine Bedell, Mark Ball, —, Ball, Queen Elizabeth Hall, Purcell, Jack Taylor, Lisa Nandy's, it's, Richard III, Antony Sher, Antony, Gilbert Prousch, George Passmore, Gilbert, George, Marina Abramovic, Elizabeth Hall, Daniel Leal, Igor Levit, Cillian Murphy, Klaus Weber Organizations: Hayward, Southbank Centre, Universal, Getty, Southbank, Conservative, Labour, CNBC, Royal Festival Hall, Queen, National Theatre, British Film Institute, Former U.S, Royal, Hall, Manchester International, Association of, of Britain, Apple, London's Southbank, Ball, Science and Industry, Royal Shakespeare Company, AFP, Artists, Royal Philharmonic Orchestra Locations: London, Manchester, Serbian

☆ China's Navy starts testing a next-generation fighter jet on one of its aircraft carriers
▼ + stars: | 2024-09-19 | by ( Chris Panella | ) www.businessinsider.com time to read: +1 min

China tested a next-generation fighter jet on its CNS Liaoning aircraft carrier. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChina said it tested its next-generation J-35 fighter jet on one of its aircraft carriers. Footage published by China Central Television last week documented the test, which occurred on the CNS Liaoning aircraft carrier.

Persons: — Organizations: Liaoning, Service, China Central Television, Business Locations: China

☆ Don't ask OpenAI's new model how it 'thinks' unless you want to risk a ban
▼ + stars: | 2024-09-19 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +3 min

Read previewOpenAI doesn't want you to know how its new AI model is thinking. "Given this, we are resetting the counter back to 1 and naming this series OpenAI o1," OpenAI said. The o1 model is able to reason more like humans, in part because of its prompting technique known as "chain of thought." AdvertisementWhen ChatGPT users ask the o1 model a question, they have the option to see a filtered interpretation of this chain of thought process. OpenAI acknowledged in the post that the decision to hide the o1 thought process from consumers has "disadvantages."

Persons: —, OpenAI Organizations: Service, o1, Business, Wired

☆ My family of 4 ate dinner at Hooters for the first time. Our $93 meal was a surprisingly good value.
▼ + stars: | 2024-09-19 | by ( Terri Peters | ) www.businessinsider.com time to read: +1 min

I take my family to chain restaurants in search of good value. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . At the same time, rising fast-food prices seem to only be making sit-down chains look like a way better value. Although I was never a big fan of sit-down restaurant chains, I recently began taking my family of four out to eat at them more often in search of good food and great value.

Persons: — Organizations: Hooters, Service, Business

☆ Don't bet on a 'silver tsunami' of boomers selling their houses
▼ + stars: | 2024-09-19 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

That contrasts with what some people saw as a "silver tsunami" of boomers giving up their houses. The lack of available homes could exacerbate an affordability crisis even as mortgage rates fall. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFrom falling mortgage rates to slipping home prices, things are starting to look a bit more upbeat for younger homebuyers.

Persons: — Organizations: Service, Business

☆ A new tool shows what the climate crisis could feel like in your city
▼ + stars: | 2024-09-19 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

Monthlong heat waves. AdvertisementLocal climate hazardsTo make predictions at a city level, Mackres said WRI built on global climate modeling done by hundreds of other researchers. World Resources InstituteIn Bengaluru, India's fifth-most-populous city, extreme heat has caused severe water shortages and surging energy demand. Now it ranks second behind San Francisco after a series of deadly heat waves prompted residents to install AC. If that demand is met with fossil fuels like oil, gas, and coal, it could exacerbate the climate crisis, WRI said.

Persons: WRI, Eric Mackres, Mackres, haven't Organizations: Service, World Resources Institute, Ross Center for Sustainable Cities, Resources, Bengaluru, US, San Locations: Saharan Africa, Latin America, Indonesia, Africa, Asia, Seattle, Rio de Janeiro, Johannesburg, Bengaluru, India, India's, Brazil, US Pacific Northwest, San Francisco, Tehran, Iran, Marrakech, Morocco

☆ Muhyyee-Ud-din Abdul-Rahman: Philadelphia teen accused of making and testing bombs wanted to join terror group overseas, prosecutors say
▼ + stars: | 2024-09-19 | by ( Associated Press | ) edition.cnn.com time to read: +2 min

AP —A Philadelphia teenager who authorities say wanted to travel overseas and make bombs for terrorist organizations will be tried as an adult. Prosecutors say Abdul-Rahman conducted at least 12 tests on homemade bombs near his family’s home before he was arrested and was close to being able to detonate devices with a blast radius of several hundred yards. Law enforcement began investigating Abdul-Rahman after they received electronic communications between him and terrorist groups in Syria, prosecutors said. The communications indicated that Abdul-Rahman wanted to become a bombmaker for these groups, identified as Katibat al Tawhid wal Jihad (KTJ) and Hay’at Tahrir al Sham (HTS). As the investigation into Abdul-Rahman continued, authorities learned he was buying military and tactical gear as well as materials that could be used in homemade bombs, prosecutors said.

Persons: din Abdul, Rahman, Abdul, Qawi Abdul, KTJ, Prosecutors Organizations: Muhyyee, Philadelphia, US State Department, Al Locations: Philadelphia, Syria

The game might be a little hard to find on TV, so we've put together everything you need to know about how to watch the Atlanta Dream vs. New York Liberty online. The New York Liberty leads the league this year with an impressive 32-7 record. Right now, the Atlanta Dream is in the elusive eighth spot in the league, meaning they're tentatively matched up with New York for the Playoffs. How to watch Atlanta Dream vs. New York Liberty in the USThe Atlanta Dream vs. New York Liberty game will air on Thursday at 7 p.m. How to watch Atlanta Dream vs. New York Liberty from anywhereBasketball fans traveling outside the US can keep up with their streaming subscriptions with the help of a VPN (virtual private network).

Persons: we've, they'll, ExpressVPN Organizations: Business, New York Liberty, Atlanta, The New York Liberty, Liberty, Chicago Sky, Washington Mystics, Sky, Washington, Mystics, Chicago, NBA, MLB Network, Tennis Channel, Basketball Locations: New, Atlanta, New York

☆ Ray Dalio says the U.S. needs a strong leader of the middle and 'broad-based prosperity'
▼ + stars: | 2024-09-19 | 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 EmailRay Dalio says the U.S. needs a strong leader of the middle and 'broad-based prosperity'Ray Dalio, founder of Bridgewater Associates, explains that while the U.S. has pockets of exceptionalism, those elements only benefit a small sliver of the population.

Persons: Ray Dalio Organizations: Bridgewater Associates Locations: U.S

☆ High home prices aren't 'something the Fed can really fix,' says Federal Reserve chair Jerome Powell
▼ + stars: | 2024-09-19 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

They received some relief on Wednesday when the Federal Reserve cut interest rates by 50 basis points, which will lower mortgage costs. Federal Reserve chair Jerome Powell said the "real issue" behind high prices in the U.S. housing market is a lack of supply, which isn't "something the Fed can really fix." With rates dropping, Powell also said that "more people are likely to start moving," which could boost home sales. Powell also said that shelter costs in the CPI tend to lag behind real-time prices, so the recent slowdown in home and rent prices prices isn't fully reflected yet. The best thing the Fed can do for U.S. households is get "inflation broadly down" and reduce the cost of borrowing by "normalizing" interest rates, Powell said.

Persons: Jerome Powell, There's, Powell's, Powell, it's Organizations: Federal Reserve, Federal, National Association of Realtors, Consumer, CNBC Locations: U.S

☆ Darden Restaurants earnings disappoint as Olive Garden, fine dining sales struggle
▼ + stars: | 2024-09-19 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Darden Restaurants on Thursday reported weaker-than-expected quarterly earnings and revenue as sales weakened at Olive Garden and its fine dining restaurants. Net sales rose 1% to $2.76 billion, but the company's same-store sales declined 1.1% in the quarter. Darden's fine-dining segment, which includes Eddie V's and The Capital Grille, reported same-store sales declines of 6%. LongHorn Steakhouse was the company's only division to report same-store sales growth. The chain, a top performer in Darden's portfolio since the pandemic, saw same-store sales growth of 3.7%.

Persons: Rick Cardenas, Darden, Raj Vennam, Olive Garden's, Eddie V's, Ruth's Chris Steak, Chris Organizations: Darden, Olive, LSEG, LongHorn, Chuy's Holdings Locations: Olive, Chicago , Illinois, Tex

John Donahoe, CEO of Nike, attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, U.S., July 10, 2024. Nike on Thursday announced that its CEO John Donahoe is stepping down and company veteran Elliott Hill is coming out of retirement to take the helm of the sneaker giant. Donahoe, who has been Nike's CEO since Jan. 2020, will retire from his position on Oct. 13. But on Thursday, Knight said in a statement that he is excited to welcome Hill back to the team. We've got a lot of work to do but I'm looking forward to seeing Nike back on its pace."

Persons: John Donahoe, Elliott Hill, Elliott, Nike's, Mark Parker, Donahoe, Phil Knight, Knight, We've Organizations: Nike, Allen, Co, Sun Valley Media, Technology Conference Locations: Sun Valley , Idaho, U.S, China

☆ Anti-Defamation League suing Intel, its first-ever discrimination case against major American company
▼ + stars: | 2024-09-19 | by ( Alexandra Ferreyros | Cnbc Intern | ) www.cnbc.com time to read: +5 min

For the first time in its century-plus history, the Anti-Defamation League is suing a Fortune 500 company, Intel , joining a case brought by the law firm of Wigdor on behalf of a former Israeli employee of the technology firm. Intel has operated in Israel for 50 years, where it has invested more than $50 billion, and remains one of Israel's largest private employers with more than 11,700 Israeli employees. The company estimated $8.7 billion in exports from its Intel operations, accounting for 5.5% of Israel's high-tech exports and 1.75% of the country's GDP, in 2022. When employers do not meet their legal obligations in protecting their Jewish employees, ADL will not hesitate to act." The former Israeli employee also recently sent an open letter to Intel's board of directors about his complaint.

Persons: wasn't, Jonathan Greenblatt, Greenblatt, Google, we've Organizations: Defamation League, Fortune, Intel, ADL, CNBC, Google Locations: Wigdor, Israel, U.S, boardrooms, Gaza

A $35,000 reward was available for information leading to Couch’s capture, according to the Kentucky State Police. The search area for Joseph Couch is seen in a photo released by Kentucky State Police spokesperson Scottie Pennington on September 9, 2024. We could have asked him what his intentions were,” Laurel County Sheriff John Root said at a Wednesday news conference. “Our one goal was to have this guy recovered.”Burnett said the couple will receive a $15,000 reward from Laurel County Crime Stoppers and a $10,000 reward from a private donor. People’s been in fear, that’s not the normal here in Laurel County,” Root said.

Persons: –, Daniel Boone, Joseph Couch, ”, Fred, Sheila McCoy, Couch, ” Fred McCoy, “, Fred McCoy, Scottie Pennington, Phillip Burnett Jr, ” Burnett, Burnett, haven’t, John Root, Root, We’re, Couch texted, couldn’t, – Couch, Jackie Steele, ” Root, “ We’ve, we’ve, People’s, that’s Organizations: CNN, Daniel Boone National Forest, Kentucky State Police, Los Angeles and New York City, YouTube, Mount Vernon Fire Department, Police Locations: Los Angeles and New, London , Kentucky, Laurel County, Frankfort, London, Kentucky, Laurel, Knox, Washington, Seattle, Tacoma

☆ Fall is the best time to visit Disney World. As a former employee, here are 9 of my favorite things to do in the parks.
▼ + stars: | 2024-09-19 | by ( Kayleigh Price | ) www.businessinsider.com time to read: +1 min

I worked in several locations across Disney World, and fall is my favorite time to visit the parks. Go to newsletter preferences Thanks for signing up! You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. AdvertisementI had the pleasure of working at Disney World, and fall is my absolute favorite time of year to be in the parks. After years of working in and visiting the parks, I've compiled a list of some of the best things to do, see, and eat at Disney World in the fall.

Persons: —, I've Organizations: Disney, Magic, Epcot, Service Locations: Florida

☆ North Carolina GOP governor nominee Mark Robinson denies making racist and sexually graphic posts on porn forum
▼ + stars: | 2024-09-19 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

North Carolina Lt. Gov. North Carolina Republican gubernatorial candidate Mark Robinson called himself a "black NAZI" and said "slavery is not bad" in years-old comments on an online pornographic forum, CNN reported Thursday. The Trump campaign denied it was pushing Robinson to withdraw. Robinson in Thursday's video signaled he would not leave the race in North Carolina, where the first absentee ballots are set to be sent out Friday. Recent polls on the race for North Carolina's top job show Stein leading Robinson, at times by wide margins.

Persons: Mark Robinson, Robinson, Donald Trump, Michael Lonergan, Josh Stein, Trump, Brian Hughes, Stein Organizations: Gov, Republican National Convention, Milwaukee , Wisconsin . North Carolina Republican, CNN, CNBC, Republican, Democratic, Carolina Journal, NBC, North, Republicans, GOP Locations: Carolina, Milwaukee , Wisconsin . North, North Carolina

☆ Coinbase CEO Brian Armstrong on the rise of the crypto voting bloc
▼ + stars: | 2024-09-19 | 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 EmailCoinbase CEO Brian Armstrong on the rise of the crypto voting blocCoinbase CEO Brian Armstrong, who has spent years lobbying lawmakers on the importance of the crypto industry, weighs in on the rise of the crypto voting bloc in the 2024 election cycle. Crypto businesses and individuals have raised more than $190 million so far, with Armstrong himself giving over $1.3 million to a mix of PACs including the bipartisan, pro-crypto Fairshake and JD Vance for Senate Inc., as well as directly to Democrats and Republicans running for both House and Senate seats.

Persons: Brian Armstrong, Armstrong, JD Vance Organizations: Senate Inc

☆ David Schwimmer turned down a lead role in 'Men in Black' to direct a movie with his friends. He missed out on being in one of the biggest movies of the '90s.
▼ + stars: | 2024-09-19 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +1 min

David Schwimmer told the "Origins with Cush Jumbo" he turned down a role in the "Men In Black." Schwimmer said the role, which Will Smith took, could have made him a movie star. AdvertisementDavid Schwimmer said he turned down a lead role in "Men in Black" to direct a movie with his friends. Will Smith took the role, cementing his status as a Hollywood star. Schwimmer told Tuesday's episode of the "Origins with Cush Jumbo" podcast that he was offered the lead role in the 1997 movie during a four-month hiatus from filming "Friends."

Persons: David Schwimmer, Cush Jumbo, Schwimmer, Will Smith, — Organizations: Service, Miramax, Lookingglass Theatre Company, Business

☆ Companies without cyber insurance could be making a costly mistake
▼ + stars: | 2024-09-19 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +7 min

Many companies don't have cyber insurance because of costs, but the market is growing. Cyber insurance can help companies recover financially from cyberattacks and data breaches. But one way leaders can minimize the impact of losses from a cybersecurity incident is by getting cyber insurance. One reason is the cost: The Cyber Readiness Institute estimates that cyber insurance can cost businesses $500 to $5,000 a year. What cyber insurance does and doesn't coverMany policies offer first- and third-party coverage, and most companies need both, Engstrom said.

Persons: —, Shruti Engstrom, Engstrom, Josephine Wolff, Wolff, it's, Stephen Boyer, Boyer Organizations: Service, IBM, Tufts University, Insurance, Federal Trade Commission, Companies Locations: cyberattacks

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