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1 High-Growth Stock Down 52% to Buy Right Now 2024-07-05 01:00:00+00:00 - In this video, I will talk about DLocal stock (NASDAQ: DLO), which is down over 50% this year, and explain why I remain bullish on the company. *Stock prices used were from the trading day of June 28, 2024. The video was published on July 3, 2024. Should you invest $1,000 in DLocal right now? Before you buy stock in DLocal, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and DLocal wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $786,046!* Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*. See the 10 stocks » *Stock Advisor returns as of July 2, 2024 Neil Rozenbaum has positions in DLocal. The Motley Fool recommends DLocal. The Motley Fool has a disclosure policy. Neil is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool. 1 High-Growth Stock Down 52% to Buy Right Now was originally published by The Motley Fool

A retired baby boomer who still needs to work to get by thinks Social Security should be seen as a right in the US 2024-07-05 00:12:00+00:00 - Linda (not pictured) is still planning on working after retirement. Image_Source_/Getty Images Linda, a retired Ohio teacher, must continue working to stay afloat. She and her husband, both public servants, lived modestly, but she still needs to work. Many retirees face similar struggles with low incomes, dwindling pensions, and Social Security withering. Linda, 64, has worked for the last 31 years, but that doesn't mean she's done. The retired high school teacher in Ohio, whose last name is known to BI, said her retirement isn't looking how she anticipated. Both she and her late husband were public servants, which means they didn't have high-paid careers, but she does have a pension — meaning she'll get a monthly payout in retirement. But it's not getting her as far as she'd hoped. "We lived the modest life of two public employees just making ends meet," Linda said. "We bought a house, we struggled in debt. I'm still in debt after his death and the bills keep coming and I need to keep working." Before her retirement, she was earning around $5,000 a month. Now, with her pension, she'll have around $3,700 a month coming in. She's looking into part-time work and other opportunities that could keep her afloat. She wants something that will give her a "modicum of autonomy" when it comes to scheduling and said that if necessary, she'll apply for Instacart and deliver groceries. She wants to ensure she's never burdensome to her children, even in her older age. She doesn't ever see herself being able to stop working completely; she said she would work until she could no longer physically do so. Linda isn't alone. Many retirees or would-be-retirees aren't able to fully throw in the towel. Just over half are living on less than $30,000 a year, or expecting to work until the day they're not physically able to anymore. It's a situation that's become more pronounced in the last few years, as retirement becomes increasingly reserved for higher earners — and it might only get worse as pensions continue to wither and Social Security remains imperiled. "I fully see myself working for the next 20-some years — if I have that many left. Whatever years I have left, I will not be enjoying the retirement life in Florida," Linda said. A looming retirement crisis for many Linda's retirement goals are modest: She's hoping to concoct a winning recipe where she can survive on her teacher's pension, a rolled-over government-worker retirement plan, the sale of her house, and some part-time work. "I'm hoping that all of those ingredients piled together in a bowl will bake something that I am able to live with. I will never be wealthy. I will never be without care and without worry, but I would like to at some point get to the point where I am free to travel and supplement my income with part-time employment," she said. Story continues Linda is one of the dwindling number of retirees who have a pension, but that comes after a career spent in low-paying public service. A Government Accountability Office report has found that older lower-income Americans have become increasingly less likely to have any retirement account balances; simultaneously, fewer low-income households have a pension. That means that the onus of retirement saving and planning have shifted onto workers, rather than employers who pay into a monthly pension benefit; for lower-income workers, who might not be able to spare savings, that can be an even more acute challenge. Linda said she thinks teachers especially have gotten a bad rap over the last few decades. They are seen as people who just want to siphon off of the system, but she said that couldn't be further from the truth. "Even though I had that position, I also had the low salary that went with it. And there are many things that you have to deal with in life financially," she said. "And teaching, unfortunately, is not a career choice that guarantees financial stability." Even so, she said it was still the most uplifting and rewarding work she's ever done. She'd also like the country to rethink conversations around Social Security and retirement benefits more broadly. Pensions have gotten in the hands of private equity, she said, potentially imperiling those guaranteed benefits. At the same time, politicians have taken aim at Social Security, suggesting potentially pushing up the retirement age and not moving to fund its coffers. "We have to get out of this frame of mind that suggests that Social Security that people have paid into for decades is somehow an entitlement. It is a right," she said. But, even so, Linda still feels fortunate: She has two adult sons who will always look out for her; she's even moving to be closer to one. They make good money, and she knows she has a safety net. "There are so many in this country who are looking at retirement age and throwing up their hands and in total desperation, wondering how they're going to make it," she said. "And those are the people I really feel terrible for." Are you struggling to retire or not experiencing the retirement you hoped for? Are you working during retirement? Contact this reporter at jkaplan@businessinsider.com. Read the original article on Business Insider

If You'd Invested $1,000 in Nvidia Stock 5 Years Ago, Here's How Much You'd Have Today 2024-07-04 23:57:00+00:00 - Nvidia (NASDAQ: NVDA) has been a top stock for years, but it recently became a household name due its graphics processing units (GPUs) powering generative artificial intelligence (AI) applications. Demand for Nvidia's chips has skyrocketed, and that's reflected in soaring revenue and profits. Investors quickly pounced on the opportunity, and Nvidia stock is up 783% over the past two years. Let's go back a little further and see where a $1,000 investment five years ago could have gotten you today. It's not only the AI Five years ago, generative AI was a concept strictly for tech people, but Nvidia was already a top chipmaker. It created the GPU in 1999 and transformed the gaming industry, and its chips are used in various industries for data computing, including scientific applications and automotive. Because generative AI can be intensely consumer-facing, Nvidia has become a recognizable symbol of its power. Like most companies and industries, Nvidia has had its ups and downs. It gained 400% between the first two of the past five years, when the country was flooded with stimulus money and the markets were giddy with optimism. Then, it lost a full 50% of its value in 11 months due to the inflation and toppled markets that followed. Smart investors held on and are now reaping the benefits of buying a great stock and holding through periods of volatility. If you'd invested $1,000 five years ago, which would have been just before the pandemic and the ensuing market chaos, you'd have a staggering $31,500 today. NVDA Chart Can Nvidia do it again? In the long term, it has plenty of opportunities. There might be some short-term pressure since Nvidia already sports a high valuation and deals with building competition. So the road may be bumpy over the next couple of years. But if you invest in Nvidia today and hold on across Wall Street's potholes, you should be richly rewarded down the line. Should you invest $1,000 in Nvidia right now? Before you buy stock in Nvidia, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Nvidia wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $786,046!* Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*. Story continues See the 10 stocks » *Stock Advisor returns as of July 2, 2024 Jennifer Saibil has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy. If You'd Invested $1,000 in Nvidia Stock 5 Years Ago, Here's How Much You'd Have Today was originally published by The Motley Fool

Better Artificial Intelligence Stock: Nvidia vs. SoundHound 2024-07-04 22:53:00+00:00 - Both SoundHound (NASDAQ: SOUN) and Nvidia (NASDAQ: NVDA) are direct beneficiaries of AI. One produces the chips necessary to make our AI future possible. The other developed its own proprietary AI platform that could power everything from cars to drive-through windows. If you want to bet on AI, it would make sense to buy stock in both companies. But some serious differences should guide your investment strategy. Want maximum growth potential? If you want maximum growth potential, the clear choice is SoundHound. The math isn't complicated. SoundHound's market cap is currently around $1.3 billion. Nvidia's valuation, meanwhile, is closer to $3 trillion. Simply due to size, SoundHound stock has a much better chance of rising another 1,000% than Nvidia. For its stock to rise 10 times in value, Nvidia would need to add more value than Microsoft, Meta Platforms, Apple, and Amazon combined -- and then some. SoundHound, meanwhile, would only need to add 0.3% of Nvidia's current value. Put simply, SoundHound's diminutive size gives it more potential upside than Nvidia. But will SoundHound actually be able to realize that potential upside? One factor works heavily in its favor. And that is SoundHound's platform relevance to a large number of industries. At its core, the company's technology enables sound and voice recognition, plus natural language understanding that allows responses via AI. Imagine ordering food through an AI-powered drive-through, chatting with your car about maintenance issues, or simply selecting a song. You might also want to discuss with your television which shows you should watch next. SoundHound actually has contracts with companies working on these very issues, with a total backlog valued at nearly $700 million -- that's up from around $330 million just a year ago. For all its potential, SoundHound stock isn't priced for perfection. Shares trade at a lofty 19 times sales, but revenue growth rates have averaged roughly 60% per year. There's a good chance double-digit growth rates will be sustained for another decade or more, a future that would make today's premium valuation look reasonable in hindsight. Emerging tech companies like this typically show a lot of short-term volatility, but patient investors looking for maximum growth potential should like what they see. SOUN PS Ratio Chart Go all-in on artificial intelligence Nvidia has very little to prove at this point. Over a very short time span, the company has become the largest AI stock in the world, with a huge percentage of its business dependent on growth in the AI industry. Story continues "Back in fiscal 2022 (which ended in January 2022), Nvidia generated 46% of its revenue from its gaming GPUs, 39% from its data center GPUs, and the rest from its professional visualization, auto, and OEM chips," explains fellow Fool contributor Leo Sun. Oh, how quickly that breakdown changed. For the first fiscal quarter of 2025, Nvidia generated 87% of its revenue from data center chips and just 13% from everything else, gaming included. "It generated $22.6 billion in data center revenue in that single quarter compared to its total revenue of nearly $27 billion for all of fiscal 2023," observes Sun. "That breakneck expansion transformed Nvidia from a more diversified GPU maker to an all-in play on AI chips." This all-in approach certainly has its risks. Over the past five years, Nvidia's valuation has gone from around 10 times sales to nearly 40 times sales. The company's growth rates -- revenue grew by 262% year over year last quarter (Q1 of FY 2025) -- have more than justified the rise in its multiple. Yet there's no denying that Nvidia's stock price is now dependent on two things. First, a continued massive increase in AI spending. Second, its ability to maintain its dominant market lead. Over the decades, chip wars have produced many repeat winners and losers. Just check out the long-term price charts of AMD, Intel, and Nvidia. The winners and losers of today don't necessarily stay that way forever, even if it takes years for the transition to occur. AMD's MI300 Instinct GPUs are already beating Nvidia's H100 GPUs on several benchmarks, as are Intel's Gaudi 3 AI accelerators. Nvidia's next-generation Blackwell chip is heading into the market as we speak, perhaps stemming the tide of rising rivals. Make no mistake: Nvidia is still a great investment for those bullish on AI. But if you're looking for the best bang for your buck, don't ignore lesser-known stocks like SoundHound. Should you invest $1,000 in Nvidia right now? Before you buy stock in Nvidia, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Nvidia wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $786,046!* Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*. See the 10 stocks » *Stock Advisor returns as of July 2, 2024 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Ryan Vanzo has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Amazon, Apple, Meta Platforms, Microsoft, and Nvidia. The Motley Fool recommends Intel and recommends the following options: long January 2025 $45 calls on Intel, long January 2026 $395 calls on Microsoft, short August 2024 $35 calls on Intel, and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy. Better Artificial Intelligence Stock: Nvidia vs. SoundHound was originally published by The Motley Fool

Saks Fifth Avenue owner buying Neiman Marcus for $2.65 billion 2024-07-04 22:40:00+00:00 - Saks Fifth Avenue merging with Neiman Marcus in $2.65 billion deal Saks Fifth Avenue merging with Neiman Marcus in $2.65 billion deal 00:26 Saks Fifth Avenue parent Hudson's Bay Company is acquiring Neiman Marcus for $2.65 billion, the privately-held upscale retailers said Thursday in a joint announcement. The combined entity, to be called Saks Global, will have a combined $7 billion portfolio of retail real estate assets, HBC and Neiman said in a statement. "We're thrilled to take this step in bringing together these iconic luxury names, Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman," HBC CEO Richard Baker said in a statement. "This is an exciting time in luxury retail, with technological advancements creating new opportunities to redefine the customer experience, and we look forward to unlocking significant value for our customers, brand partners and employees." The Wall Street Journal first reported the deal on Wednesday. Rare move by Amazon Amazon is facilitating the deal by taking a minority stake in Saks Global. The acquisition is being financed with $2 billion raised by HBC, and affiliates of Apollo Global Management are offering $1.5 billion in debt. Pairing the luxury department store chains is not unexpected, retail analyst Neil Saunders of GlobalData said, noting that Saks and Neiman executives have explored joining for forces "for some time." But Amazon's involvement "adds a bit of spice" to the combination because it would give the online retailer a foothold in the luxury space. "The real win here would be the ability of Amazon to streamline logistics and e-commerce, giving the new entity an advantage in a market where remote shopping has become more important to shoppers — especially younger ones, which both chains need to do more to attract." The investment in Neiman Marcus is Amazon's first in a brick-and-mortar retailer since it acquired Whole Foods in 2017, according to Bloomberg News. Amazon declined to comment on the planned merger. Among the country's oldest retailers Herbert Marcus Sr., his sister, Carrie Marcus Neiman, and her husband A.L. Neiman opened the retailer's first store in Dallas, Texas, in 1907. The company was sold to department store operator Broadway-Hale in 1969, setting the stage for it to expand beyond Texas. Later, Neiman Marcus came under the ownership of the conglomerate Harcourt General, which also published textbooks and owned movie theaters. In 1999, Harcourt General spun off Neiman Marcus stores and Bergdorf Goodman. Private equity firms TPG Capital and Warburg Pincus bought the company in 2005 for $5.1 billion. Today, the retailer has 36 Neiman Marcus stores in the U.S., two Bergdorf Goodman stores and five Last Call outlets. The company declared bankruptcy in May of 2020, at the time becoming one of the highest-profile retailers to collapse as the COVID-19 pandemic was shuttering retailers across the U.S.; it emerged from court supervision roughly four months later after shedding billions in debt. Saks, based in New York City, was founded in 1924 and operates 39 stores in the U.S. In early 2021, the retailer spun off its website into a separate company to capitalize on a surge in online shopping spurred by the pandemic. Hudson Bay — which also runs the Canadian department store chain Hudson's Bay is known as HBC and has a history dating back to 1670, bought Saks in 2013 for $2.9 billion, including debt. Both Saks and Neiman have struggled to boost growth in recent years. Although the enlarged company would have greater leverage in negotiating with brands, it would still likely struggle to compete with global luxury conglomerates such as Kering and LVMH, which could end up "creating an even bigger headache for Saks," Saunders said. Marc Metrick, CEO of Saks' e-commerce business, will become chief executive of Saks Global. He told The Associated Press on Thursday during a phone interview that consumers are increasingly demanding more access to designer product, easier ways to shop and more personalized experiences. "This type of combination was the next move to make in order to put Saks, Neiman Marcus and Bergdorf Goodman where they need to be for the consumer, " he said. —The Associated Press contributed to this report.

Who is Labour's Keir Starmer, the likely new leader of Britain? 2024-07-04 22:28:00+00:00 - Labour leader Keir Starmer visits Burton and South Derbyshire College on June 27, 2024 in Burton upon Trent, United Kingdom. Cameron Smith | Getty Images News | Getty Images LONDON — Britain looks likely to elect its first Labour prime minister in 14 years, with an expected landslide victory for the opposition party during the July 4 elections. Keir Starmer would take the country's top job from Rishi Sunak with exit polls suggesting his left-of-center party could have a majority of around 170 seats. Starmer, 61, has had a rapid political ascent after entering U.K. parliament less than a decade ago. But many Britons still know little about the man who has positioned himself as the country's change candidate. CNBC takes a look at the U.K.'s new prime minister and his platform. Human rights lawyer-turned-politician Starmer was born in 1962 in London, England, to a father who worked as a toolmaker and a mother who worked as a nurse. The 61-year-old has often referenced his modest beginnings as a point of connection with British voters and says his mother's lifelong battle with a severe illness gave him a deep gratitude for the National Health Service (NHS). Starmer was the first in his family to go to university, studying law at the University of Leeds. After postgraduate studies at the University of Oxford, Starmer began working as a barrister — or British trial attorney — in 1987, taking on high-profile cases, including against Shell, McDonald's and former Conservative Prime Minister Margaret Thatcher's mine closures. watch now Starmer also served as a human rights adviser during former Labour Prime Minister Tony Blair's landmark Northern Ireland Good Friday Agreement. In 2008, a year after marrying his wife, Victoria, Starmer became director of public prosecutions, putting him at the head of the U.K.'s Crown Prosecution Service. Starmer was knighted in 2014 for his services to criminal justice and was elected to Parliament the following year, serving as immigration minister and Brexit minister for the opposition. In 2020, he was appointed Labour leader and instigated a major overhaul of the party after the resignation of Jeremy Corbyn, who led the faction to record loss in the 2019 election. In his 2024 election campaign, Starmer touted a "decade of national renewal" for the country following what Labour has described as years of spending cuts and falling living standards under the Tories. In the party's election manifesto, published last month, Starmer outlined spending measures to create a new publicly owned energy company, reduce NHS waiting times, build new homes and renationalize rail services. Labour leader Keir Starmer gives a speech as he visits the Vale Inn on June 27, 2024 in Macclesfield, United Kingdom. Cameron Smith | Getty Images News | Getty Images But he also positioned himself as staunchly pro-business, continuing his years-long charm offensive on traditionally right-leaning voters with plans for "wealth creation" and a National Wealth Fund. "Economic growth and social justice must go hand in hand," Starmer said at the launch event of the manifesto. Labour has outlined five long-term missions if it comes to power: drive economic growth, invest in green energy, overhaul the NHS, create safer streets, and deliver "opportunity" through a new skills agenda. To aid these goals, Starmer is planning a radical shake-up of government ministries, Labour officials told the FT. Starmer, who voted for the Remain campaign not the depart the EU in the U.K.'s 2016 EU referendum, has also pledged to improve the "botched" U.K.-EU deal, including in areas such as trade, research and security. However, he has insisted there is no case for Britain to rejoin the bloc. Public image problem? Despite his change agenda, Starmer is seen by many as an establishment figure, lacking the charisma of other politicians. A YouGov poll from earlier this year ranked him behind Reform's Nigel Farage in terms of public popularity — and his rating fell further among younger voters. watch now

Some Democrats say Biden's debate performance wasn't an anomaly 2024-07-04 21:39:00+00:00 - WASHINGTON — After he gave his State of the Union speech in March, President Joe Biden seemed to have quieted persistent fears that, at 81, he was no longer up to the job. He spoke forcefully and jousted with Republican lawmakers who had jeered his message. But a Democratic lawmaker who shook hands with Biden in the House chamber that night was troubled by his appearance. Biden, the congressman said in a recent interview, looked “frail and weak.” Biden’s poor showing at the debate with Donald Trump last week threatens to end his campaign just four months before the election. Hoping to salvage his bid for another term, he is asking voters to weigh the 90-minute debacle against what he says is a 3½-year record of achievement in office. Yet the notion that last week's debate was an anomaly doesn’t jibe with the impressions of some Democratic lawmakers who’ve seen him up close and come away doubting his capacity to hold office. Far from a one-off, the debate revealed the same worrying traits — memory lapses, incoherence, a vacant look — these officials say they've noticed in Biden’s company throughout his term. “The country saw [at the debate] what those of us who have had personal interactions with him have all known for the last 2½ years,” a senator said, speaking on condition of anonymity to discuss Biden’s fitness. A large, well-funded team of aides surrounds Biden and has worked to shield him from the embarrassments that might befall a president of advanced age. He often boards Air Force One through a shorter staircase leading to the belly of the plane to minimize the risk of a fall. No president other since Ronald Reagan has given fewer interviews, a forum in which he must nimbly field questions without the benefit of a script. The debate stripped away the protective cloak. Now, Biden faces a crisis in which he needs to demonstrate — quickly — that he can function at the level the presidency demands. In a phone call this week with a close ally, Sen. Chris Coons, D-Del., Biden affirmed that "he's got to do some things to win back the confidence of the American people," Coons said in an interview. The two men also discussed ways to overcome the fallout from the debate. One problem Biden acknowledged was that he came prepared to cite facts and figures that don’t carry much weight in a match-up with Trump, Coons said. "Donald Trump is a very different kind of opponent," Coons said. "Donald Trump stood there and unleashed a torrent of angry invective that Joe Biden could still hear even though the mics were off." Coons, who once worked for Biden as a senatorial intern, said he remains confident in his cognitive abilities. In the phone call with Biden, he said, the president was “sharp, engaged and energetic.” “I’ve never had a moment that led me to question his mental acuity,” Coons added. Others see a more diminished figure. A third Democratic lawmaker said that in recent months, Biden looked “exceedingly tired" when the two were together. In other dealings this year, Biden seemed “far from optimal.” Though the debate was the “worst” version of Biden, the lawmaker said, “it was not an aberration.” A group of about 40 Democratic lawmakers have been texting one another since the debate, this House member said, and not one of them believes Biden should stay in the race. In reply, a Biden campaign spokesperson cited various members of Congress who’ve vouched for Biden’s acuity. Rep. Gerry Connolly, D-Va., a former Biden staff member from Biden’s time in the Senate, said, “I will tell you that in my encounters with Joe Biden as president, I have not experienced what I saw last week” at the debate. “The minute I see him, he knows me by name,” Connolly continued. “He will bring up mutual friends and colleagues that worked with us in that time period by name and is genuinely interested in how they’re doing.” “I have certainly witnessed the aging of my former boss, sure, but not mental decline," Connolly said. People grow old in different ways, and the presidency tends to act as an aging accelerant. In 1990, a year after having left office, Reagan testified at the trial of a former White House official. He was 79 at the time, two years younger than Biden is now. Reagan didn’t remember the name of his former chairman of the Joint Chiefs of Staff. He used the words “I don’t remember,” or some equivalent, at least 124 times, according to a Los Angeles Times account of his testimony. There are plenty of occasions when Biden demonstrates impressive command of his faculties, aides say. While he was prepping for a major speech in France last month for the 80th anniversary of D-Day, Biden took pains to ensure the text did justice to the Army Rangers who scaled the cliffs in the face of German machine gun fire, a senior White House official said. An early draft said the soldiers were thinking about preserving democracy as they ascended rope ladders at Omaha Beach. That didn’t sound right to Biden, the official said. After he reviewed the draft in his Paris hotel, Biden questioned an aide about whether the future of democracy is something combat soldiers would really be discussing while they were evading enemy fire. No, it's not, the aide replied. Biden insisted that the reference be scrapped in favor of something more genuine. The speech he delivered at Pointe du Hoc instead recounted an exchange between two soldiers, one of whom said, “I’m not sure I can make it,” and another who yelled back, "You’ve got to hold on.” It's far from certain that Biden can hold on. He is placing a big bet on an interview scheduled Friday with ABC News, seeing it as a chance to quell the widespread doubts that have arisen since the debate. “One of his core challenges is to show people that this was a moment,” Coons said. “This was a bad debate night for a range of reasons — not some concealed condition. And we talked about the things he needs to do to build public confidence in that.” Yet the interview comes eight days after Biden's appearance onstage with Trump — time enough for perceptions of his poor performance to calcify. Even if the interview goes well, it may not be enough to rescue his candidacy. “There is a great deal of love for this man and his family. And there is great deal of bewilderment among us about why he, and the people around him who presumably love him, are letting him take his historical legacy and throw it down the drain," the third Democratic lawmaker said. “If he loses to Trump after that debate, that will be on his tombstone instead of his achievements. It’s an absolutely legacy-defining moment,” this lawmaker added.

Netflix axes its cheapest ad-free plan in the UK and Canada, giving users deadlines to upgrade 2024-07-04 21:32:44+00:00 - The demise of Netflix's lowest-priced ad-free plan continues in the UK and Canada. Basic users in those markets report receiving deadlines to upgrade or accept ads. Co-CEO Greg Peters said the price hikes are intended to help pay for a wider range of content. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement As with even the most bingeable series, all good things must come to an end. So it goes with the demise of Netflix's lowest-priced ad-free plan, as users of the Basic tier in the UK and Canada report receiving deadlines to upgrade to a higher-cost option or accept ads. A Canadian user posted a photo on Reddit Monday of their TV with the message: "Your Basic plan has been discontinued, but you can easily switch to a new one. Plans start at just $5.99 with upgraded features." This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

Scientists invented 'no melt' ice cream that holds its shape for 4 hours, but you can't eat it yet 2024-07-04 21:27:33+00:00 - A new innovation could help prevent ice cream from becoming a puddle at room temperature. Compounds called polyphenols, found in green tea and berries, can help stabilize the ice cream. More research is needed to make no-melt ice cream a delicious reality. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement Sloppy sundaes and drippy cones could become a thing of the past as the wonders of science have uncovered a way to make ice cream nearly melt-proof. The innovation comes from (where else?) the Dairy State, specifically the University of Wisconsin-Madison. Plant-based compounds called polyphenols are the secret to keeping frozen treats from turning into puddles, according to Cameron Wicks, a PhD student in the university's food science department who's behind the project. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

Biden has a new plan: Stop doing events at night 2024-07-04 21:01:02+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Joe Biden has a new solution to calm concerns after his abysmal debate against Donald Trump last week: he just needs to get more rest. Biden — now facing increasing pressure to drop out of the race after his performance last Thursday featured a hoarse voice, meandering thoughts, verbal flubs, and vacant expressions — met with key Democratic governors on Wednesday to stamp out naysayers. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. He again brushed off criticism of the debate as a one-off mistake, according to CNN and The New York Times. And the 81-year-old president said he's still ready to defeat Trump. He told the governors he just needs to get more sleep and stop holding events after 8 p.m., according to the outlets. Advertisement (Biden's disastrous live debate last week began at 9 p.m.) The solution wasn't well-received by governors present for the statement, according to CNN. Biden's campaign didn't immediately respond to a request for comment from Business Insider about the reports. Biden's campaign had previously chalked up the poor performance to a cold and jet lag from international trips he had taken days earlier. Related stories According to Politico, Biden's family has privately blamed top aides including his senior advisor, Anita Dunn, Biden's attorney, Bob Bauer, and Biden's former chief of staff, Ron Klain, for his lagging performance. Advertisement For now, Biden's political allies and surrogates are publicly backing him. That's even true after the governor's meeting. "The president has always had our backs," Maryland Gov. Wes Moore told reporters. "We're going to have his back as well." Other governors said they'd support Biden as he remains the nominee. But the leak about Biden's planned break from evening events likely won't help calm nerves about his mental capacity. Advertisement A growing number of House Democrats are questioning whether he should just step down, and key Biden ally Rep. Jim Clyburn discussed supporting Vice President Kamala Harris if Biden were to step aside, a signal that the once-unthinkable is now being considered. One representative told CNN anonymously that House lawmakers are giving Biden space to decide what to do next. Meanwhile, Biden has a high-stakes event to plan for. On Friday, he'll have a taped interview with ABC's George Stephanopoulos, an opportunity to prove he's up to the task of running for president — or a chance for a gaffe that could torpedo his campaign.

What to look for in the U.S. government's June jobs report 2024-07-04 20:55:00+00:00 - The state of inflation in the U.S. The state of inflation in the U.S. The state of inflation in the U.S. A key government report on Friday is expected to show slowing, but steady, job growth in June, with forecasters increasingly confident that the U.S. economy is cruising in for a "soft landing." Recent economic signals show that the labor market is normalizing: The nation's unemployment rate has remained at or below 4% for 30 consecutive months. Payroll gains have averaged 277,000 in 2024, compared with 251,000 the previous year and 165,000 in 2019, before the pandemic slammed the economy in 2020. Job openings, although still higher than in 2019, are trending down in what economists say is a more typical balance between employer demand and the number of available workers. Companies have announced plans to cut roughly 435,000 jobs this year — that is down 5% from the same period in 2023, according to outplacement firm Challenger, Gray & Christmas. Wage pressures are continuing to ease, giving companies more scope to dial back prices. What to look for Forecasters are looking for signs that the pace of hiring is moderating, consistent with slowing inflation, but without falling off a cliff, which would rekindle fears about a severe slump. Analysts surveyed by Factset forecast that employers added 192,000 jobs last month, compared with 272,000 in May. A substantial slowdown in June hiring from earlier this year would further affirm the economy is downshifting, as the Federal Reserve hopes. Starting in 2022, the Fed raised interest rates to their highest level in decades in an effort to tamp down growth and curb inflation. Unemployment in June is forecast to hold steady at 4%, which would point to stable job growth. To that end, Elise Gould, an economist at the Economic Policy Institute, noted in a report that the jobless rate for young adults is now on par with before the pandemic. Monthly wage growth in June is also expected to cool to 0.3%, down from 0.4% the previous month, which would align with other recent data suggesting that inflation is gradually fading. When will the Fed cut interest rates? The Fed's central challenge in nursing the economy back to health after the pandemic has been to help balance the supply and demand of workers without tipping the economy into a recession. And so far, the central bank has largely defied critics who predicted that aggressive monetary tightening would lead to a crash. In remarks in Sintra, Portugal this week, Fed Chair Jerome Powell said inflation is slowing again after flaring earlier this year, the Associated Press reported. The personal consumption expenditures index — a key indicator closely tracked by the Fed — in May slowed to its smallest annual increase in three years, hiking the odds of the central bank cutting rates by year-end. That doesn't mean policymakers are quite ready to relent in the fight against inflation. Powell emphasized that central bankers still need to see more data showing that annual price growth is dipping closer to the Fed's 2% annual target, and he warned that cutting rates prematurely could re-ignite inflation. "We just want to understand that the levels that we're seeing are a true reading of underlying inflation," Powell said. Most economists think Fed officials will hold rates steady when they meet at the end of July, while viewing a quarter point cut in September as likely. "The Fed is growing more attentive to the downside risks to the labor market, which strengthens our confidence in forecast for the first rate cut in this easing cycle to occur in September," according to Ryan Sweet, chief U.S. economist at Oxford Economics, which also expects another Fed rate cut in December. Ian Shepherdson, chief economist at Pantheon Macroeconomics, also expects a quarter point cut in September. That could be followed by deeper cuts in November and December, but only if the labor market weakens more than the Fed currently expects.

Hatch recalls nearly 1 million AC adapters used in baby product because of shock hazard 2024-07-04 20:38:00+00:00 - Hatch is recalling nearly 1 million power adapters sold with Rest 1st Generation sound machines because their plastic housing can detach, posing an electrical shock hazard to users, the sleep device maker said in a notice posted by the U.S. Consumer Product Safety Commission. About 919,000 of the recalled products were sold nationwide, and more than 44,000 were sold in Canada, according to Palo Alto, California-based Hatch. "The plastic housing surrounding the AC power adapter supplied with some Rest 1st Generation sound machines can come off when removing the adapter from the power outlet, leaving the power prongs exposed and posing a shock hazard to consumers," the company explained in the notice. Rest 1st Generation Sound Machine sold with recalled power adapter. U.S. Consumer Product Safety Commission The company has received 19 reports of the plastic housing surrounding the AC power adapter coming off, including two reports of people experiencing a minor electrical shock from the made-in-China product. The power adapters have model number CYAP05 050100U. Hatch is no long sourcing adapters from Jiangsu Chenyang Electron Co., the company stated in a separate notice. Recalled power adapter for Rest 1st Generation sound machines. U.S. Consumer Product Safety Commission People with the recalled power adapters should stop using them and contact the company for a replacement. Hatch can be reached at (888) 918-4614 from 9 a.m. to 5 p.m. Pacific Time Monday through Friday, by email at recall@hatch.co or online at www.hatch.co/adapterrecall. The recall involves products that were sold online at Hatch.co and Amazon and at BestBuy, BuyBuyBaby, Nordstrom, Pottery Barn Kids and Target stores from January 2019 through September 2022.

Biden suggests to allies he might limit evening events to get more sleep 2024-07-04 20:27:00+00:00 - President Joe Biden suggested to Democratic governors that he might limit evening events after 8 p.m. so he can get more sleep, according to two sources familiar with the exchange. Biden met with the governors Wednesday evening as he sought to assuage allies’ concerns after a disastrous debate performance left Democrats anxious about his ability to serve and campaign for re-election. He also joked that while his health was fine, “it’s just my brain," a source told NBC News. “He was clearly making a joke and then said, ‘All kidding aside,’” Biden campaign chair Jen O’Malley Dillon said Thursday. The remarks, first reported by The New York Times, are part of a stream of leaks about the contents of the meeting, which was not attended by staff members for the governors, the White House or the campaign. He also said he had seen a doctor after the debate, contradicting an earlier White House claim. California Gov. Gavin Newsom, a Biden surrogate who was on the call and is viewed as a potential future Democratic presidential candidate, said Biden's 8 p.m. comment was not "literal." "It was more of a rhetorical framework of just being fit and rested because he was burning at both ends, you know, that last 10 or so days. And I think that was sort of what he was reflecting, is just a more steady focus on being his energetic self," Newsom said. A fourth person with knowledge of the meeting downplayed Biden’s comments about needing more sleep, adding that Biden acknowledged generally that he does need to be better at finding time to rest. The campaign defended the remarks, saying presidents need a balanced schedule. “President Bush went to bed at 9, and President Obama made dinner at 6:30. Normal presidents strike a balance, and so does Joe Biden," campaign spokesman Kevin Munoz said in a statement. "Hardly the same rigor as Donald Trump who spends half of his day ranting on Truth Social about plans that would cause a recession and other half golfing.” In the week since the debate, Democrats have expressed frustration over both Biden's debate performance and how he and White House staffers have handled allies' response to it. Biden is expected to do damage control in an interview with ABC News on Friday morning that will air in the evening, but some doubt it will be enough. “One interview is not going to fix this,” Rep. Debbie Dingell, D-Mich., said Thursday on MSNBC. “He’s got one thing to do, which is to get up and go out to prove to people that he can do the job, will do the job and has the stamina.” Rep. Scott Peters, D-Calif., questioned Biden’s ability to win in November in an interview with a local CBS affiliate and said he was not sure he could support him at this point. “The campaign has been very, I think, arrogant in its response,” he said, arguing it needed to turn around the numbers in swing states. “If they don’t have a plan, then I think we have to move in a different direction.” But Peters and Dingell stopped short of calling for Biden to step aside as the nominee. Just two House Democrats have publicly said he should leave the race. Some allies are maintaining staunch support. Newsom hit the campaign trail in Michigan on Thursday, touting the governors' meeting. “I mean this with absolute conviction," he said of the meeting. "That was the Joe Biden I remember from two weeks ago. That was the Joe Biden that I remember from two years ago. That’s the Joe Biden that I’m looking forward to re-electing President of the United States.” CORRECTION (July 4, 2024, 2:13 p.m. ET): Due to an editing error, a previous version of this article misstated Jen O’Malley Dillon’s role on the Biden campaign. She is the Biden campaign chair, not campaign manager.

From hot dogs to Uncle Sam: Photos of Fourth of July celebrations around the country 2024-07-04 19:34:00+00:00 - Over a thousand miles north, in New York City, a group of revelers dressed as hot dogs chant for the cameras as they wait for the start of Nathan's Famous Hot Dog Eating Contest in Coney Island, where 16-time champion Joey Chestnut will not compete this year after he signed with a rival food brand.A group of Scouts celebrate Independence Day as they walk with their guides beneath an oversize star-spangled banner during the Edmond LibertyFest Parade in Oklahoma.

Saks Fifth Avenue parent HBC to acquire Neiman Marcus Group in $2.65 billion deal 2024-07-04 19:32:00+00:00 - Saks Fifth Avenue parent HBC said on Thursday it will acquire Neiman Marcus Group in a $2.65 billion deal combining the storied retailers. The combination will establish Saks Global, which will include Saks Fifth Avenue, Saks OFF 5TH, Neiman Marcus' namesake department store chain and Bergdorf Goodman. "We're thrilled to take this step in bringing together these iconic luxury names," HBC CEO Richard Baker. said in a statement. "For years, many in the industry have anticipated this transaction and the benefits it would drive for customers, partners and employees." "This is an exciting time in luxury retail," Baker added, citing technological advancements that can "redefine" the customer experience. He was one of several executives between the two companies pointing to technology as a point of focus going forward. As part of the deal, Saks.com CEO Marc Metrick will take the chief executive role for the Saks Global business. Ian Putnam, president and CEO of HBC Properties and Investments, will become CEO of Saks Global's property and investments business. Both will report to Baker, who will serve as executive chairman at Saks Global. Neiman Marcus Group CEO Geoffroy van Raemdonck called the partnership a "proactive choice in an evolving retail landscape." The deal comes amid what's been a turbulent period for traditional brick-and-mortar retail in the wake of the ecommerce boom. That strain was exacerbated by post-pandemic demand for experiences, which pushed consumers to shell out for restaurants or travel instead of goods they stocked up on during lockdown. The department store segment in particular has struggled to attract younger shoppers amid a broader pullback in discretionary spending.

Nathan's hot dog contest crowns Bertoletti, Sudo after Joey Chestnut debacle 2024-07-04 18:02:00+00:00 - Patrick Bertoletti, Geoffrey Esper and other contestants compete in the 2024 Nathan's Famous Fourth of July International Hot Dog Eating Contest at Coney Island in New York City, U.S., July 4, 2024. There's a new top dog in the frankfurter eating world. Patrick Bertoletti won Nathan's Hot Dog Eating Contest, the annual competition held on July 4, marking the end of an era after 16-time winner Joey Chestnut's falling out with the event's organizer, Major League Eating. Bertoletti, 39, from Illinois, consumed 58 hot dogs in this year's 10-minute event, earning him the Mustard Yellow Belt in the men's category. Miki Sudo set a new record in the women's division with 51 wieners downed. After the beef between Chestnut and MLE, the contest was considered much more wide open than in the past several years. MLE announced last month that it was parting ways with Chestnut, citing a rule that participants cannot strike endorsement deals with rivals of hot dog maker Nathan's. MLE alleged at the time that Chestnut had partnered with a plant-based meat alternative company. Chestnut, also known as "Jaws," has recently begun posting images on Instagram that feature Impossible Foods. "For nearly two decades we have worked under the same basic hot dog exclusivity provisions," the MLE said in a statement in June. "However, it seems that Joey and his managers have prioritized a new partnership with a different hot dog brand over our long-time relationship."

CNBC's Inside India newsletter: An education scandal years in the making 2024-07-04 18:00:00+00:00 - Members of the Youth Congress are protesting against the alleged government irregularities, paper leaks, and a sharp rise in perfect scores in the state of Jammu and Kashmir. (Photo by Firdous Nazir/NurPhoto via Getty Images) This report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Like what you see? You can subscribe here. Cram schools are a well-known phenomenon in India. Each year, thousands of aspiring students, mostly from middle-class families, move to Kota, a city in the desert state of Rajasthan, where they spend two years rote learning to pass competitive entrance tests to a handful of universities. Yet, the system has also exacerbated the social divide between the haves and have-nots, who are confined to the largely abysmal state-run education system. Competition is fierce in India, whether for jobs or admissions to elite institutions. For the millions entering the labor market each year, the government has been unable to develop policies that will create jobs fast enough to absorb them all. That means entrance tests and examinations are a high-stakes juncture in a person's life. They open doors to dreams or often close them shut permanently. So, many do whatever it takes — including cheating — to get ahead. Last month, for instance, the government canceled the tests determining admissions into elite medical schools in India after reports of widespread cheating. The government said its cybercrime enforcement agency had indicated that the "integrity" of those "examinations may have been compromised." The head of India's National Testing Agency, the body that conducts the medical entrance test, was sacked following protests by students and opposition political parties. However, it wasn't an isolated incident. In 2015, the Reuters news agency revealed that one out of every six of the country's 398 medical schools had been accused of cheating, citing government records and court filings. Cheating has also not been limited to university tests. The same year, parents and friends of students were caught on tape climbing school walls to pass on answers during school exams. That blatant case of cheating led to the arrest of about 300 people, in addition to the 750 students who were expelled. Incidents of cheating had shot up after a local government introduced a reward with seemingly good intentions. Students from lower castes, a form class system in India, were offered 10,000 rupees ($120) to get at least half the questions right. The financial reward meant teachers and supervisors colluded with students to rig the system. Supervisors took bribes to allow others to help test-takers, and teachers looked the other way since cheating inflated grades in their classes. To fix this system, the Indian government passed a law to deter individuals from cheating with three to 10-year prison sentences earlier this year. But perhaps the fault lies in the quality of education in the country, which leaves many unqualified despite holding qualifications. India has not taken part in the Programme for International Student Assessment, more commonly known as PISA, since 2009 when it ranked 73 out of 74 participating countries, beating only Kyrgyzstan. A half-hearted attempt at testing the country's education system in 2021 was aborted when the Covid-19 pandemic hit the country. Could tech solve testing woes? In 2011, a startup named Byju's saw a gap in the market and wanted to capture a slice of the multi-billion-dollar education market. The company, which offers services ranging from online tutorials to offline coaching, attracted billions of dollars from investors worldwide during the pandemic when online education services were in high demand. In 2022, the firm was valued at $22 billion, enabling it to sponsor the FIFA World Cup. With a lofty valuation, Byju's went on an acquisition spree. One of the companies it bought was an offline test preparation service called Aakash Education Services, which is still expected to IPO this year. All of their gains are now being undone by what shareholders say is "financial mismanagement and compliance issues" at the company, leaving it at the risk of bankruptcy. However, the company's remote learning services, enabled by technology, has provided education at lower cost to the masses. So more broadly, tech can hold the potential to provide a more affordable alternative to India's cram school system. But a word of warning. Technology could just as easily enable further cheating, just as it has in the case of a Turkish student who was reportedly caught using artificial intelligence software to answer questions during a university entrance exam.

Parent company of Saks Fifth Avenue to buy Neiman Marcus for $2.65 billion 2024-07-04 17:38:39+00:00 - NEW YORK (AP) — The parent company of Saks Fifth Avenue has signed a deal to buy upscale rival Neiman Marcus Group, which owns Neiman Marcus and Bergdorf Goodman stores, for $2.65 billion, with online behemoth Amazon holding a minority stake. The new entity will be called Saks Global, creating a luxury powerhouse at a time when the arena has become increasingly fragmented with different players, from online marketplaces that sell luxury goods to upscale fashion and accessories brands opening up their own stores. The new organization will comprise the Saks Fifth Avenue and Saks OFF 5TH brands, Neiman Marcus and Bergdorf Goodman, as well as the real estate assets of Neiman Marcus Group and HBC, a holding company that purchased Saks in 2013. The stores will continue to operate under their own brand names. HBC has secured $1.15 billion in financing from investment funds and accounts managed by affiliates of Apollo, and a $2 billion fully committed revolving asset based loan facility from Bank of America, which is the lead underwriter, Citigroup, Morgan Stanley, RBC Capital Markets, and Wells Fargo. The deal was announced Thursday after the two department store chains had been in negotiations for about a year. But the twist is Amazon’s minority stake, which adds “a bit of spice” to an otherwise anticipated pact, according to Neil Saunders, managing director of GlobalData, a research firm. Amazon will be working with Saks Global to offer its expertise in logistics and personalization technology. Salesforce, a cloud-based software powerhouse, will also become an investor at closing. The Wall Street Journal first reported the impending deal Wednesday. “For years, many in the industry have anticipated this transaction and the benefits it would drive for customers, partners and employees,” said Richard Baker, HBC executive chairman and CEO in a statement. “This is an exciting time in luxury retail, with technological advancements creating new opportunities to redefine the customer experience, and we look forward to unlocking significant value for our customers, brand partners and employees.” Marc Metrick, who is CEO of Saks’ e-commerce business, will become CEO of Saks Global. He told The Associated Press on Thursday during a phone interview that consumers are increasingly demanding more access to designer product, easier ways to shop and more personalized experiences. “This type of combination was the next move to make in order to put Saks, Neiman Marcus and Bergdorf Goodman where they need to be for the consumer, ” he said. Both Saks and Neiman Marcus have struggled as shoppers have been pulling back on buying high-end goods and shifting their spending toward experiences, like travel and upscale restaurants. The two iconic luxury purveyors have also faced stiffer competition from luxury brands, which are increasingly opening their own stores. The deal should help reduce operating costs and create more negotiating power with vendors. The new entity will also give shoppers better access to more designers, particularly up-and-coming ones as it will have more financial flexibility. Shoppers will also see their experiences more personalized through improved use of artificial intelligence, Metrick said. Saks Fifth Avenue currently operates 39 stores in the U.S., including its Manhattan flagship. In early 2021, Saks spun off its website into a separate company, with the hopes of expanding that business at a time when more people were shopping online. Neiman Marcus filed for bankruptcy protection in May 2020 during the first months of the coronavirus pandemic but emerged in September of that year. Like many of its peers, the privately held department store chain was forced to temporarily close its stores for several months. Meanwhile, other department stores are under pressure to keep increasing sales. Storied Lord & Taylor announced in late August 2020 it was closing all its stores after filing for bankruptcy earlier that month. It’s operating online. Macy’s announced in February of this year that it will close 150 unproductive namesake stores over the next three years including 50 by year-end. Consumers have proven resilient and willing to shop even after a bout of inflation, though behaviors have shifted, with some Americans trading down to lower-priced goods. A deal between the two luxury retailers does not resolve all the issues, especially when high-end shoppers are looking to buy luxury goods online or at luxury brands’ own stores, Saunders said. “As a larger entity, negotiating power will be a little better with the brands, but even a combined chain would not match the heft and power of the global luxury conglomerates, which would still hold most of the cards,” Saunders said. “As such, there is a risk that the deal might end up creating an even bigger headache for Saks.” Saunders noted that Amazon’s stake in the business makes sense, as it has ambitions to play more heavily in the luxury arena. Saunders said Amazon could use its ability to streamline logistics and e-commerce and create an advantage for the new entity in a market where online shopping has become more important to shoppers — especially younger ones, which both chains need to do more to attract, he said. Saks Global will also include HBC’s U.S. real estate assets and Neiman Marcus Group’s real estate assets, creating a $7 billion portfolio of retail real estate assets in top-tier luxury shopping destinations. Ian Putnam, currently president and CEO of HBC Properties and Investments, will become CEO of Saks Global Properties and Investments, which will manage the company’s portfolio of assets. Both Metrick and Putnam will report to Baker, who will serve as executive chairman of Saks Global.

A Tennessee woman who hates both Trump and Biden won a $32,000 lawsuit against her city after it fined her for a vulgar yard sign. 2024-07-04 17:34:18+00:00 - Julie Pereira posted a yard sign crudely expressing her dissatisfaction with both Biden and Trump. But her city, Lakeland, Tennessee, near Memphis, deemed the sign "obscene" and fined her $50 a day. She sued — and has now settled, with the town paying her around $32,000 in costs and legal fees. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement A Tennessee woman whose eyebrow-raising political yard sign led to her being fined hundreds of dollars won about $32,000 after filing a First Amendment lawsuit against her city. Earlier this year, Julie Pereira posted a sign in her front year saying "Fuck 'Em Both 2024." But it didn't take long for neighbors to complain and for a code enforcement officer from the Memphis suburb of Lakeland to fine Pereira for violating a city law against obscene signs. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

Mark Zuckerberg wishes America a happy birthday while surfing in a suit with beer and flag in hand 2024-07-04 17:16:08+00:00 - Happy Fourth of July! Mark Zuckerberg is back on his hydrofoil. The Meta CEO posted a video to Facebook and Instagram with the caption: "Happy birthday, America!" Don't worry, he didn't forget his chain. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement Ah, yes, our favorite 4th of July tradition: Mark Zuckerberg's America-loving post. This year, he's back surfing while waving the American Flag, sipping a can of beer, and wearing a tux — oh, and don't forget the latest Zuck staple, a chain necklace. It looks like is also wearing a pair of Meta Ray-Bans, one of the company's wearable tech products it's been pushing heavily.