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Totally Cool recalls over 60 ice cream products because they could contain listeria 2024-06-25 20:28:00+00:00 - Totally Cool, which makes ChipWich, Friendly's and other branded ice creams, is recalling more than 60 products because they could contain listeria. The products were sold nationwide in retail stores and by direct delivery, the Owing Mills, Maryland-company disclosed in a June 24 recall notice posted by the Food and Drug Administration. Totally Cool has halted production and distribution of the items, and no other of the company's products were affected, the company said. No illnesses have been reported, it said. Consumers who bought any of the products should return them to the place of purchase. Anyone with questions can contact Totally Cool at (410) 363- 7801 or regulatory@totallycoolicecream.com, Monday through Friday between 8 a.m. and 4 p.m. Eastern. Listeria is an organism that can cause serious and sometimes fatal infections in the young, frail or elderly, according to the FDA. Symptoms often include high fever, severe headache, stiffness, nausea, abdominal pain and diarrhea. Listeria infection can also cause miscarriages and stillbirths among pregnant women. The following are products recalled by Totally Cool over listeria risks: Abilyn's Frozen Bakery Abilyn's Frozen Bakery Vanilla & Chocolate 30 fl oz 6" Ice Cream Cake Abilyn's Frozen Bakery Vanilla & Chocolate 60 fl oz 8" Ice Cream Cake Abilyn's Frozen Bakery "For Love of Chocolate" Ice Cream Cake Abilyn's Frozen Bakery "Cookies & Cream" Ice Cream Cake Abilyn's Frozen Bakery "Cookie Dough" Ice Cream Cake Affected lots: All "best by" dates between May 20, 2024, and May 28, 2025. AMAFruits 3 gal Acai Sorbet Tubs 3 gal Dragon Fruit Sorbet Tubs Affected lots: All codes: 32824, 32924, 33024, 50125, 50225, 50325, 50425, 62725, 62825, 62925, 63025, 60125, 72825, 82825, 82925, 83125, 90525, 2311324, 2311325, 2311326, 2311331, 2311332, 2311333, 2311334, 2401031, 2401032, 2401033, 2401036, 2401037, 2401038, 2401039, 2401040, 2402043, 2402044, 2402057, 2402058, 402059, 2403085, 2403086, 2403087, 2403088, 2404120, 2404121, 2405142, 2406158, 2406159. With plant codes: 24-65, 24- 0065, 2465, 240065 ChipWich 4 fl oz The Original Vanilla Chocolate Chip Ice Cream Sandwich 10 Club Pack, 3 Pack, 24 Pack 16 fl oz Vanilla Chocolate Chip Ice Cream Pint 16 fl oz Mint Chocolate Chip Ice Cream Pint Affected lots: All codes between: sandwiches—best by dates: 022325 to 122125 • Club pack (10 units): lot# 23298-24172 • single serve: Lot# 23298-24164 • 3 packs: Lot# 23298-24136 Pints: 072524 to 012725 with plant code: 24-65, 24-0065, 2465, 240065. Cumberland Farms Cumberland Farms, Farmhouse Premium Ice Cream Sandwich, Rich Vanilla, 4 fl oz Cumberland Farms, Farmhouse Premium Ice Cream Sandwich, Marvelous Mint, 4 fl oz Affected lots: All codes 113025 to 120425 Dolcezza Gelato 16 fl oz Mascarpone & Berries Ice Cream Pints 16 fl oz Roasted Strawberry Ice Cream Pints 16 fl oz Vanilla Bean Ice Cream Pints 16 fl oz Peanut Butter Mash and Peanut Butter Cup Ice Cream Pints 16 fl oz Dulce de Leche & Cookies Ice Cream Pints 16 fl oz Stracciatella Ice Cream Pints 16 fl oz Peanut Stracciatella Ice Cream Pints 16 fl oz Swiss Chocolate Ice Cream Pints 16 fl oz Coffee & Cookies Ice Cream Pints 16 fl oz Hot Cocoa Ice Cream Pints 16 fl oz Sugar Cookie Dough Ice Cream Pints 16 fl oz Dark Chocolate Ice Cream Pints 16 fl oz Dark Chocolate Fudge Ice Cream Pints Affected lots: All codes 052024 to 062025. With plant codes 24-65, 24-0065, 2465, 240065. Friendly's 60 fl oz Celebration Ice Cream Cake 40 fl oz Strawberry Krunch Ice Cream Cake Affected lots: All dates between May 5, 2024, and May 28, 2025, with plant codes 24-65, 24- 0065, 2465, 240065 The Frozen Farmer 4 fl oz Elf On the Shelf Santa`s Cookies Ice Cream Sandwiches 16 fl oz Elf On the Shelf Santa`s Cookies 16 fl oz Strawberry Sorbet Pints 16 fl oz Raspberry Sorbet Pints 16 fl oz Orange Cream Frobert Pints 16 fl oz Watermelon Sorbet Pints Affected lots: All codes between: sandwiches—090425 to 120725; pints—090525 to 073026. With plant codes 24-65, 24- 0065, 2465, 240065. Hershey's Ice Cream 38 fl oz vanilla and chocolate flavored ice cream cake 110 fl oz vanilla and chocolate flavored ice cream cake 4 fl oz Cookies & Cream Ice Cream Cones 4 fl oz Cookies & Cream Polar Bear Ice Cream Sandwiches Affected lots: All codes between: cakes—2305140 to 2405170; cones—3174 to 4047; sandwiches—2307187 to 2406163. With plant codes 24-65, 24-0065, 2465, 240065. Jeni's 3.5 fl oz Chocolate Silk Pie Ice Cream Sandwiches 3.5 fl oz Key Lime Pie Frozen Dessert 3.5 fl oz Mint Chocolate Truffle Pie Ice Cream Sandwiches 3.5 fl oz Triple Berry Tart Pie Ice Cream Sandwiches Affected lots: All codes 23205 to 24144. With plant codes 24-65, 24-0065, 2465, 240065. LaSalle 16 fl oz Chocolate Ice Cream Pints 16 fl oz Vanilla Ice Cream Pints 16 fl oz Cherry Vanilla Ice Cream Pints 16 fl oz Vanilla Mango Ice Cream Pints 16 fl oz Vanilla Raspberry Ice Cream Pints 16 fl oz Vanilla Fudge Ice Cream Pints 16 fl oz Dulce De Leche Ice Cream Pints 16 fl oz Cookies & Cream Ice Cream Pints 16 fl oz Butter Pecan Ice Cream Pints Affected lots: All codes 111824 to 102525. With plant codes 24-65, 24-0065, 2465, 240065. Marco 3.8 fl oz Dulce De Leche Ice Cream Sandwiches 3.8 fl oz Vanilla Chai Ice Cream Sandwiches 16 fl oz Dulce De Leche & Cookies Ice Cream Pints 16 fl oz Turkish Mocha Ice Cream Pints 16 fl oz Vanilla Chai Ice Cream Pints 16 fl oz Spicy Peanut Butter Caramel and Peanut Butter Caramel Ice Cream Pints 16 fl oz Moroccan Honey Nut Ice Cream Pints 16 fl oz Green Tea White Chocolate Ice Cream Pints 16 fl oz Aztec Chocolate Ice Cream Pints Affected lots: All codes between: sandwiches—112825 to 112925; pints—060724 to 121125. With plant codes 24-65, 24-0065, 2465, 240065. Taharka 16 fl oz Honey Graham Ice Cream Pints 16 fl oz Key Lime Pie Ice Cream Pints Affected lots: Code: 100125. With plant code—24-65, 24-0065, 2465, 240065. Yelloh! 4 fl oz Vanilla Nut Ice Cream Sundae Cones 4 fl oz Vanilla Fudge Ice Cream Sundae Cones 4 fl oz Pecan Praline Ice Cream Sundae Cones 4 fl oz Chip & Mint Ice Cream Sundae Cones 4 fl oz Cookies & Cream Ice Cream Sandwiches Affected lots: All codes between: cones—6T3227 to 6T4157; sandwiches—6T3115 to 6T4171
Alex Jones' Infowars to be sold off to pay Sandy Hook victims' families 2024-06-25 20:26:49+00:00 - A court-appointed trustee in Alex Jones' bankruptcy proceedings is drawing up plans to shut down Infowars and liquidate its assets to help pay off the $1.5 billion that Jones owes the families of Sandy Hook Elementary School shooting victims. Filing an emergency motion in a Texas bankruptcy court on Sunday, trustee Christopher Murray revealed that he has been planning for "an orderly wind-down" of Infowars parent company's operations and a liquidation of its assets. He has asked a bankruptcy judge to extend a stay in the case to allow him to see that process through. Jones' lawyer did not immediately respond to NBC News' request for comment. The emergency motion, if granted, would mean the end of Infowars, a platform that Jones has used to spread lies about the shooting that killed 20 first-grade children and six adults in 2012. Earlier this month, a bankruptcy judge allowed Jones to liquidate his personal assets to pay the judgments he owes to the families but dismissed a bankruptcy case for his media company Free Speech Systems, which runs Infowars. That ruling meant that Jones could continue to broadcast on Infowars for the time being. Jones has warned his viewers for weeks that the bankruptcy proceedings could bring an end to his show. The emergency motion was filed amid a disagreement between two groups of Sandy Hook parents — those who sued Jones in Connecticut and those who sued him Texas — over how to collect the money that Jones owes them. None of the families have received any money from him to date; if and when they do, it is likely to be a fraction of the amount he has been ordered to pay. Murray said he filed his emergency motion after a Texas state court on Friday approved the Texas plaintiffs' request that Free Speech Systems turn over certain assets to the families and to garnish its accounts. “The specter of a pell-mell seizure of FSS’s assets, including its cash, threatens to throw the business into chaos, potentially stopping it in its tracks, to the detriment of the interests of the chapter 7 estate for which the Trustee is responsible,” Murray wrote, asking the bankruptcy judge to intervene “to prevent a value-destructive money grab and allow an orderly process to take its course.” Christopher Mattei, a lawyer who represents the Sandy Hook families in the Connecticut lawsuit against Jones, said in a statement that the request by the Texas plaintiffs would “undercut” a fair distribution of Jones’ assets to all the families. Mattei said his clients support the trustee's emergency motion.
Midwestern carbon dioxide pipeline project gets approval in Iowa, but still has a long way to go 2024-06-25 20:26:28+00:00 - Iowa public utility regulators on Tuesday approved a controversial carbon dioxide pipeline for transporting emissions of the climate-warming greenhouse gas for storage underground in a win for Summit Carbon Solutions’ project after setbacks in other states and opposition from landowners around the Midwest. The company still has many hoops to jump through before it can begin building in Iowa, including gaining other states’ approval. The $5.5 billion, 2,500-mile (4,023.36 kilometers) pipeline network would carry planet-warming CO2 emissions, liquefied under pressure, from more than 50 ethanol plants in Iowa, Minnesota, Nebraska, North Dakota and South Dakota to be stored deep underground in central North Dakota. Farmers and the ethanol industry see the pipeline as a way to qualify for federal tax breaks they see as key for growing a market for a cleaner-burning aviation fuel. Corn is among the top two crops in the Midwest, and Iowa is the leader in corn and ethanol production. “Whether you think it’s smart or silly, the world’s largest airlines want to decarbonize their fuel. Carbon capture and sequestration gets Iowa ethanol into that market, potentially providing a generational boost to Iowa’s economy,” Iowa Renewable Fuels Association Executive Director Monte Shaw said in a statement. Summit CEO Lee Blank welcomed the decision in a statement. The project’s opponents, including many landowners, fear their land will be taken for the pipeline and that a potential pipeline rupture could release dangerous CO2 gas. A coalition opposing Summit’s project vowed to fight the Iowa board’s decision. Landowner attorney Brian Jorde said the decision was expected, with a lengthy process for Summit still ahead, such as applying in South Dakota. “It’s just one small thing in a maze, in a track-and-field event full of hurdles that they have to get over,” Jorde said. The Iowa Utilities Board approved Summit’s January 2022 application for a permit to build and operate the pipeline. But before the board issues the permit, the company must file proof of an insurance policy of at least $100 million to pay for any damages resulting from the pipeline project. Summit must provide proof of the insurance annually. The company also can’t start construction until it has approvals from North Dakota and South Dakota, including for routes in both states and underground storage in North Dakota. Summit also needs approvals from Minnesota and in Nebraska before it can begin to build lines out to ethanol plants in those states. The Iowa regulators’ decision comes after hearings last year and setbacks in other states. North Dakota regulators denied a siting permit in August, but later agreed to reconsider. Hearings on the underground storage proposal were held earlier this month. South Dakota regulators denied Summit’s application in September; Summit said it plans to file again in early July. In Nebraska, where Summit must work with individual counties, at least one county has denied a permit. The Iowa panel also granted the company the right of eminent domain over numerous parcels of land, but only after the permit is issued. The extent of Summit’s eminent domain powers wasn’t immediately clear from the 500-page order. The board denied use of some parcels of land; others require modifications to the route. Eminent domain is the taking of private land for public use with compensation for landowners. The order also includes numerous other requirements of Summit, such as monthly construction reports and grants for equipment for cities and counties to respond to incidents. Supporters view carbon capture projects such as Summit’s as a combatant of climate change, with new federal tax incentives and billions from Congress for such carbon capture efforts. Opponents question the technology’s effectiveness at scale and the need for potentially huge investments over cheaper renewable energy sources. Companies behind two other CO2 pipeline projects proposed in the Midwest have canceled or shelved their plans. From the renewable fuels industry perspective, blows to projects such as Summit’s could put at risk the huge potential of a new aviation fuel market the industry believes would continue for many years. North Dakota Republican Gov. Doug Burgum supports the pipeline. He has hailed North Dakota’s underground rock formations as a “geologic jackpot” for CO2 storage potential. In 2021, he set a goal for North Dakota to become carbon neutral by 2030. He isn’t seeking reelection this year, and is a top choice to be former President Donald Trump’s running mate. ___ Dura reported from Bismarck, North Dakota.
Trump’s ‘bloodshed and crime’ remarks in Philly were detached from reality 2024-06-25 20:22:36+00:00 - “Few communities have suffered more under the Biden regime than Philadelphia,” Donald Trump claimed in an unhinged diatribe in that city on Saturday. “Under Crooked Joe, the City of Brotherly Love is being ravaged by bloodshed and crime.” That fictitious, John Singleton-esque portrayal of crime-ridden communities has basically been Trump’s campaign pitch to (and about) major cities, particularly those with large Black populations. As he has done with similar attacks on Atlanta and Detroit, he often portrays such communities as lawless hellscapes in desperate need of his authoritarian ire, harsher policing and, as he has promised in a second White House term, less police accountability. In this case, he cherry-picked a recent spate of violent crime in Philadelphia in a single weekend and complained about a spike in retail theft to give the impression that the city is nightmarish now, in comparison with his presidency. But evidence suggests otherwise. Violent crime has decreased nationwide since Trump’s presidency, and Philadelphia’s drop — particularly, with regard to gun violence — has been among the steepest. Violent crime has decreased nationwide since Trump’s presidency, and Philadelphia’s drop — particularly, with regard to gun violence — has been among the steepest. In fact, the city’s district attorney is predicting that the city’s decrease in violent crime this year could set a national record. And while Philadelphia has indeed seen a spike in retail theft in recent years, the numbers in 2021 and 2022 still didn’t reach the pre-pandemic levels of 2018 and 2019, which is to say: They haven’t been as high as they were under Trump’s administration. So, no — Philadelphia is not “ravaged.” In reality, the city is in better shape than Trump left it as president. Nonetheless, such attacks serve two goals for Trump and his campaign. They falsely portray liberals — specifically, President Biden — as weak on crime. But perhaps more ominously, they set the stage for Trump, if he’s elected, to follow through on his plan to use the National Guard to impose military-style crackdowns — ostensibly meant to root out crime — in America’s inner cities.
Denmark considers tightening regulations on water extraction despite Poland Spring opposition 2024-06-25 20:22:06+00:00 - After years of work, Denmark is on the cusp of major changes to its ordinance that would curtail large-scale water extraction in the town — an industry largely occupied by the bottled water behemoth Poland Spring. The changes, which will be presented at a June 26 town forum, would block future Denmark officials from loosening restrictions on water sources and require more rigorous monitoring from extraction entities on the sources they draw from. They also acknowledge the influence of climate change on drought and groundwater reserves as a reason for protecting local water through regulation. In an era of volatile weather and unreliable precipitation, the proposals appear to be some of the most aggressive recent efforts by a Maine municipality attempting to protect its water, following repeated efforts by advocates for tougher regulations on bottling companies. Denmark, an Oxford County town about 41 miles northwest of Portland, has been a Maine leader in local water extraction regulations, establishing its landmark ordinance in 2005. The original document created a separate permitting process for water extraction that included measures to protect groundwater reserves. Such ordinances go beyond the state’s groundwater regulations, where the Department of Environmental Protection oversees large-scale wells, and the Department of Health and Human Services manages the safety and transport of drinking water. Shapleigh and Newfield, in York County, went on to draw from Denmark’s playbook in 2009, passing even more stringent regulations after Poland Spring, then owned by Nestlé, drilled test wells nearby (Nestlé ultimately withdrew from the area). Once a trailblazer, Denmark has gone over a decade since last updating its ordinance in 2012. Meanwhile, Nestlé sold Poland Spring and its other bottled water brands to two private equity firms in 2021. The new owners changed the name of Poland Spring’s parent company to BlueTriton Brands. BlueTriton agreed this week to merge with Primo Water, forming a company called NewCo (the name is a common corporate placeholder until a new name is announced), which will have nearly two dozen water brands. It wasn’t until late 2021, after Poland Spring asked to renew its extraction permit to annually withdraw 105 million gallons of water (around 150 Olympic-sized swimming pools worth), that the Denmark select board decided to designate a town committee to analyze and recommend ordinance updates. The changes will eventually be put to a town vote. Meeting for the first time in May 2022, the water ordinance review committee’s early discussions were partially spent wrestling with the ordinance’s language and the makeup of the committee itself. The committee’s initial structure included a non-voting member from Poland Spring — Mark DuBois, the company’s natural resource manager — in addition to a selectman, three citizen volunteers and the town manager who comprised the voting members. Minutes of a January 2023 meeting describe citizen members Laurie LaMountain and Audrey Rabinowitz questioning whether DuBois should be copied on emails between voting committee members. Luke Allocco, the third citizen member and former Denmark selectmen, said that as a committee member DuBois should be looped in. In that same meeting, members said the town was at an expertise disadvantage because unlike Poland Spring, Denmark didn’t have a legal or technical consultant attend meetings. LaMountain and Rabinowitz then sent a formal email to the select board, repeating those concerns and requesting the removal of Poland Spring’s nonvoting spot because it “raises additional conflicts issues – or at a minimum, the appearance of impropriety.” Although select board members didn’t believe there was a conflict of interest, they voted to remove Poland Spring’s nonvoting position, according to town manager Betty LeGoff. The town also hired a hydrogeologist from Westbrook-based engineering firm Credere Associates, who began attending meetings. The committee drafted and sharpened substantial amendments to the ordinance through late last month. Ordinance changes acknowledge shifting climate The ordinance changes begin by acknowledging the influence of climate change on drought and groundwater reserves as a reason for protecting local water through regulation. Other amendments drew significant debate at a May 23 meeting, when committee members reviewed BlueTriton’s comments on drafted amendments ahead of a June public hearing. Throughout the two-hour meeting, members revisited past disagreements over the ordinance’s purpose. One committee-proposed update, for example, tweaks language defining “alert” and “action” levels, variables that measure the condition and depth of water sources near an extraction well that are monitored through weekly testing. As currently written, reaching an “alert” level requires the extractor, i.e. Poland Spring, to increase monitoring activities until hydrogeologic conditions no longer indicate potential or future harm to the water sources, but allows the company to keep drawing water. When the more critical “action” level is hit, meaning the water resource is at risk of being damaged, the select board (with advice from a technical expert) can reduce or halt extraction until it determines that any risk or harm to the water source and neighboring wells or water bodies has subsided. Whereas the current ordinance allows the select board to revise the levels and make them more or less lenient based on monitoring data, a new provision proposed by the committee would only allow the select board to further restrict levels unless there’s evidence of an error. BlueTriton representatives suggested cutting that line. “There’s no technical reason, if the data supports it, not to allow the board to relax the action and alert levels,” they argued. The pushback led to disagreement among committee members about the ordinance’s goals. One group — LaMountain and Rabinowitz, the members who had questioned Poland Spring’s place on the committee — described the phrasing as a way to make the ordinance as strong as possible. LaMountain pointed to an example in 2012, when the select board relaxed the action and alert levels for some Poland Spring wells after the company requested it. “We wanted to put in failsafes so that in the future, we don’t have to worry about these things,” said Rabinowitz. “So what you’re saying, in essence, is that you’re going to tie the hands of someone today because you don’t trust the people in the future?” Alloco, the third citizen member and former selectman, asked Rabinowitz. “I don’t think trust enters in. I really don’t. I think it’s just about making it as strong and as safe as we can,” Rabinowitz responded. The committee ultimately voted to keep the stricter provision in the draft ordinance for now, along with changes that would require extraction applicants to conduct more thorough hydrogeologic studies before applying for a permit, and have more frequent monitoring after extraction begins, uploading data to the town website daily. Under another proposal, extraction entities could not transfer ownership of their permits unless they receive town approval and demonstrate an ability to abide by the ordinance. BlueTriton did not directly answer how the committee’s proposed amendments would affect the company’s operations, if at all, when asked by The Maine Monitor. Instead, a BlueTriton spokesperson provided a statement saying that the company supports “reasonable science-based natural resource oversight, focused on quality and quantity that is designed to be protective of this important resource and equitable among users while being environmentally sustainable.” Towns step in as statewide restriction efforts fail The amendments come as statewide efforts to curb large-scale water extraction have largely failed in recent years despite a surge of activism and droughts, with the most recent droughts cropping up in the summers between 2020 and 2022, according to the Maine Climate Office. The 2020 drought lasted through September and caused some of the worst drought conditions in over a century for York, Cumberland, northern Penobscot and Aroostook counties, stressing groundwater and streamflows. (The Piscataquis River, for example, was at its lowest depth in over 117 years ). Though Maine precipitation will likely increase due to climate change, warming temperatures with high evaporation rates and humidity could lead to intensified periods of drought, drying surface water soon after it falls, according to a report issued in 2020 by the Maine Climate Council. Because that precipitation is also falling more as rain than snow, the report notes, the spring melt that recharges Maine’s aquifers could decrease, accentuated by extended periods of low streamflow from prolonged hot and dry conditions in late summer and early fall. Advocates for safeguards on Maine’s water extraction industry argue that the threat of these conditions necessitated L.D. 1111, a bill introduced in 2023 that would have limited the length of contracts to three years between bottled water companies and municipalities. In February, after heavy opposition from BlueTriton and local water districts, a weakened version of the bill failed, as did another measure to stop the automatic transfer of a water extraction permit when a company sells its assets. One of the most restrictive legislative proposals on water extraction came in 2019. It would have imposed a two-year moratorium on new extraction agreements for more than 75,000 gallons of water per week between a company and a town or water district. During that time, a work group would study Maine’s water supplies and infrastructure, then recommend steps to safeguard both. It never made it out of committee. The state’s existing regulations on water extraction task the Maine Department of Health and Human Services, and the Maine Department of Environmental Protection with oversight. In general, DHHS ensures the water is safe to drink while DEP permits the development of larger wells, and monitors pumping rates and groundwater levels. Some officials have stepped in to fine-tune regulations in their towns beyond the statewide regulations. Local ordinances are often sparked by Poland Spring’s exploration of nearby water sources or by changes and renewals to existing local extraction permits, which was the case in Denmark. The 105 million gallons of water that Poland Spring can pull from its Cold Spring site in Denmark each year is lower than the thresholds many other Maine municipalities and water districts have set for the bottled water company, although some Denmark residents and water ordinance committee members say it’s still too much. The average Mainer uses around 35,000 gallons of water per year, according to the Maine Geological Survey. Rumford Water District, which serves 4,500 people (and has a deal with Poland Spring), used about 235 million gallons in 2022, its annual report said. Near the company’s namesake spring in Poland, for example, Poland Spring can extract 398 million gallons of water annually from two wells, although it only used 179 million gallons in 2022, DEP permitting data shows. Poland Spring rarely neared the maximum allocation amount at any of its springs permitted by the department, according to the same dataset. The closest it got to its limit was in Hollis, where the 247 million gallons the company withdrew in 2022 was just 14 million shy of what it’s permitted. The company’s extraction activity in Hollis that year also made it Poland Spring’s most-used groundwater source of its 11 wells permitted by DEP (though there are a few water sources the dataset does not include), a superlative it took by almost 100 million gallons. Those withdrawals came in the midst of a third summer of drought in York County and Maine, sparking controversy when Poland Spring requested another 30 million gallons more than permits allowed, The Monitor reported at the time. After immense pressure from residents, the company dropped its request. Nickie Sekera, who heads Community Water Justice, a Maine water rights group out of Fryeburg, told The Monitor she hopes other towns will look at Denmark’s movement and pursue their own regulatory updates. “Our organization has been educating communities about the merits of adopting water protection ordinances that would extend improved groundwater protections to vital aquifers from excessive exports and over-extraction,” Sekera said in an email. Officials reached by The Monitor in Poland, Hollis and Fryeburg said they had not seen any push to update ordinances. In Denmark, a combination of residents’ concerns about climate change, a 2016 drought and the fluctuating water levels of a local pond in 2021 raised local interest in updating the ordinance, according to LaMountain, who coordinated community action at that time. Then, when Poland Spring was purchased by the two private equity firms, more alarms started going off. “We never thought of” addressing ownership transfer, said LaMountain, who spoke to The Monitor about her activism before the committee was formed — not her work as a committee member. “We didn’t do that the first time around. So we were like, ‘We really need something in there about transfer of ownership and put some guardrails on that.’ ” Around that time in 2021, when Poland Spring also received a permit renewal, LaMountain began pushing the select board to update its ordinance. Dry well investigation finds no fault with Poland Spring While reports of dry wells near Poland Spring’s withdrawal sites periodically circulate in the media, only one has been officially reported to DEP in the past decade, according to records obtained by The Monitor. The state investigates all reports of dry wells, and none have been connected to Poland Spring extraction. The records, which cover all reports made to DEP relating to Poland Spring or its parent companies between 2013 and 2024, documented only one complaint of a dry well. It was a 30- to 40-foot-deep well serving a residence near Poland Spring’s extraction site in Hollis, according to the records, which residents claimed went dry in the fall of 2015. In response, DEP staff organized an investigation into the well and coordinated with Poland Spring. A department geologist, John Hopeck, reviewed data from monitoring wells near the dry well and found nominal changes in groundwater levels over the months leading up to the complaint. Had there been an overall drawdown in groundwater, Hopeck wrote in an email, the monitor wells would have been most affected — meaning the issue was likely the well system itself, which Hopeck recommended analyzing. Poland Spring’s DuBois later met with the residents and contracted a plumbing company to further investigate the well, according to an email exchange with DEP staff. The plumber ultimately restored water flow by replacing a missing drive point, faulty piping and adding a new pump tank at no cost to the residents, according to a memo sent to DEP from Woodard & Curran, an environmental engineering firm contracted by Poland Spring. Another Hollis resident filed a complaint less than a year later, this time regarding water levels at Lily Pond. The department passed the complaint to Poland Spring and DuBois, who said he would meet with the complainant and present a report that showed surface water levels that year were consistent with previous years. Though the department investigates these complaints, they do not have a formal process for addressing and resolving them, according to Mark Margerum, a policy expert in DEP’s Bureau of Water Quality. Extraction cap floated; shot down Denmark water committee members continued to spar even as the May meeting wound to a close and twilight fell on the green grass of the baseball diamond outside the town office, which installed stadium lights in 2021 with the help of a $16,180 donation from Poland Spring. In the waning minutes of the meeting, LaMountain and Rabinowitz made a last effort to set a water extraction cap for Denmark. The cap, which had been floated and shot down at previous committee meetings, would limit water extraction to 105 million gallons per year — though there was some confusion about whether the phrasing would only apply to large-scale extraction permitted by the ordinance or all water users. The amendment ultimately failed, with Rabinowitz and LaMountain voting in favor, and Allocco, LeGoff and Andrew Kruczek, the select board member and chair, voting against. The cap could still be revived if residents support the idea at the June 26 public hearing, after which the committee will have one more meeting to finalize the draft before it is sent to the select board. Beyond that, it will be up to the select board to reject or confirm the recommendations and add any of their own, according to LeGoff, and there will be more public hearings for town residents to sway board members. Residents and board members may encounter the same dilemmas the committee weighed: the purpose of the ordinance itself, and whether restriction or feasibility is the ultimate goal of town water regulations. “Do we want to create a document that is as tight as we can make it, leaving as little up to suggestion as possible?” Alloco asked. —- This story was originally published by The Maine Monitor and distributed through a partnership with The Associated Press.
Volkswagen Will Invest Up to $5 Billion in Rivian 2024-06-25 20:18:13+00:00 - Volkswagen, the German automaker, said on Tuesday that it would invest up to $5 billion in Rivian, a maker of electric trucks that has struggled to turn a profit, and that the companies would cooperate on software for electric vehicles. The deal creates an unusual alliance between the world’s second-largest carmaker and an electric vehicle start-up that has strained to live up to investors’ expectations that it would achieve the kind of success that made Tesla the world’s most valuable automaker. If successful, the partnership would address weaknesses at both companies. It would provide Volkswagen with the software expertise that auto analysts say it sorely lacks. And Rivian, in addition to cash, would benefit from the manufacturing expertise of an automaker that produces nearly 10 million vehicles a year, putting it just behind Toyota Motor in the global auto industry. Volkswagen said it would initially invest $1 billion in Rivian, and over time increase that to as much as $5 billion. If regulators approve the transaction, Volkswagen could become a significant shareholder. The infusion represents a big vote of confidence in Rivian, which loses tens of thousands of dollars on each vehicle it sells.
I'm an interior designer — here are 9 things I'd absolutely buy at CB2 right now 2024-06-25 20:12:30+00:00 - I'm an interior designer, and I chose furniture and decor I'd buy from the furniture retailer CB2. The Enyo travertine coffee table and Derrico acacia-wood coffee table are statement pieces. I'd upgrade a space with light-brown velvet Bettie throw pillows and CB2's Weaver Bird bust. 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 the US housing market continues to stretch wallets and put homeownership out of reach, many furniture retailers are seeing a dip in sales. After all, the fewer houses that sell, the fewer there are to furnish. But I'm an interior designer who's spent years working with all sorts of spaces and a range of budgets. I believe it's worth investing in timeless, well-crafted pieces even if you're decorating a rental. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .
Sixteen Nobel Prize-winning economists warn a second Trump term would 'reignite' inflation 2024-06-25 20:08:00+00:00 - Sixteen Nobel Prize-winning economists signed a joint letter Tuesday warning of what they see as economic risks if former President Donald Trump were to serve a second term, including reheated inflation. "While each of us has different views on the particulars of various economic policies, we all agree that Joe Biden's economic agenda is vastly superior to Donald Trump's," the economists wrote. Axios was first to report the letter. "There is rightly a worry that Donald Trump will reignite this inflation, with his fiscally irresponsible budgets," wrote the group of politically progressive academics. Trump has so far proposed making his first-term tax cuts permanent, imposing universal tariffs on all imports, with a China-specific tariff rate between 60% and 100%, and pressuring the independent Federal Reserve Board to cut interest rates. Economists and Wall Street analysts alike have predicted that any or all of those proposals could reinflate prices, which remain vulnerable despite cooling slightly in recent months. Joseph Stiglitz, who won the Nobel Prize in 2001, led the effort to publish Tuesday's letter. His co-signers include George Akerlof, Sir Angus Deaton, Claudia Goldin, Sir Oliver Hart, Eric Maskin, Daniel McFadden, Paul Milgrom, Roger Myerson, Edmund Phelps, Paul Romer, Alvin Roth, William Sharpe, Robert Shiller, Christopher Sims and Robert Wilson. "Nonpartisan researchers, including at Evercore, Allianz, Oxford Economics, and the Peterson Institute, predict that if Donald Trump successfully enacts his agenda, it will increase inflation," the economists wrote.
Illumina Rises on Conclusion of GRAIL Divestment - Illumina (NASDAQ:ILMN), GRAIL, Inc. - Common Stock (NASDAQ:GRAL) 2024-06-25 20:06:00+00:00 - Loading... Loading... Following three years of nonstop regulatory hassles, Illumina ILMN finally gave up on GRAIL GRAL, leading to the successful completion of its spin-off yesterday. Following the announcement, shares of Illumina rose 1.5% at yesterday's close and also edged up 0.1% during the after-hour trading session. With the divestment now complete, GRAIL will start trading publicly on Nasdaq from Jun 25 under the ticker symbol "GRAL." Illumina will continue to operate its legacy business independently under the ticker symbol "ILMN" on Nasdaq. Financing and Distribution Details Post divestment, Illumina will maintain a minority share of 14.5% in GRAIL. The separation of businesses was achieved through the distribution of the remaining 85.5% of the outstanding shares of GRAIL to holders of Illumina common stock. In addition to retaining their shares of Illumina stock, ILMN shareholders received one share of GRAIL common stock for every six shares of Illumina stock held as of the close of business on the record date of Jun 13, 2024. GRAIL, as a new-age cancer research company, will continue to grow its business, leveraging Illumina's sequencing technology, end-to-end workflows and a suite of services. ILMN's GRAIL Battle at a Glance Illumina formed GRAIL in early 2016 and spun it out as a standalone company in the same year. In 2020, the company announced plans to reacquire GRAIL to merge their potential for early cancer detection and improve outcomes. In August 2021, Illumina forcefully closed the $7.1-billion GRAIL-acquisition deal before obtaining the EC's regulatory clearance. Since then, the acquisition has been subject to rigorous legal and regulatory proceedings both in the United States and the European Union. In December 2022, the European Union unveiled details of a planned order that would force Illumina to unwind its $7.1 billion acquisition of GRAIL, fearing the deal would hurt consumer choice. While Illumina appealed the planned order, it also considered options for the next step if the EU indeed forced it to divest GRAIL. However, in July 2023, the European Commission adopted a final decision confirming Illumina's breach of the EU Merger Regulation, acquiring the right to exert decisive influence over GRAIL and exerting such influence during the pendency of the Commission's review. On this ground, the company was fined approximately €432 million, which represented the maximum fine of 10% of the company's consolidated annual revenues for the fiscal year 2022. In October 2023, Illumina declared that it would divest GRAIL if the company was not successful with either its European Court of Justice jurisdictional appeal or in a final decision of the Fifth Circuit. Finally, on Dec 17, 2023, Illumina formally announced that it would divest GRAIL after the U.S. Court of Appeals for the Fifth Circuit issued its decision that the acquisition would indeed threaten competition in the cancer detection tests market. The company did not pursue further appeals of the Fifth Circuit's decision and proceeded with the divestiture of the early cancer detection company, as previously stated. On Jun 3, 2024, Illumina finally announced that its board of directors had approved the spin-off of GRAIL, less than a month after the company publicly filed a Form 10 registration statement with the U.S. Securities and Exchange Commission. Sigh of Relief for Investors Throughout this long battle, Illumina faced significant financial penalties, operational restrictions and increased costs to fight against governmental and regulatory authorities. In fact, the situation worsened in early 2023 when celebrity investor Carl Icahn, holding a 1.4% stake in Illumina, argued that the company's takeover of GRAIL had cost shareholders about $50 billion since the closing of the deal. Per Icahn, the company could lose $800 million in operating costs annually if the GRAIL deal did not materialize. ILMN's share price started to plunge following this as a huge set of investors took out money from the stock. With the divestment now over, we expect the stock to soar again to its potential high on the assumption that the company will start to focus on its legacy and highly competitive gene-sequencing product line. Share Price Performance Over the past year, shares of Illumina have plunged 43.3% compared with the industry's 6.8% decline. However, as discussed above, a significant turnaround is expected soon. Zacks Rank and Key Picks Illumina currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader medical space are Hims & Hers Health, ResMed RMD and Medpace MEDP. While Hims & Hers Health sports a Zacks Rank #1 (Strong Buy) at present, ResMed and Medpace carry a Zacks Rank #2 (Buy) each. Hims & Hers Heath stock has surged 169.4% in the past year. Estimates for the company's earnings have increased from 18 cents to 19 cents for 2024 and from 33 cents to 35 cents for 2025 in the past seven days. HIMS' earnings beat estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 79.2%. In the last reported quarter, it posted an earnings surprise of a staggering 150%. Estimates for ResMed's fiscal 2024 earnings per share have remained constant at $7.70 in the past 30 days. Shares of the company have declined 15% in the past year compared with the industry's fall of 0.7%. RMD's earnings surpassed estimates in three of the trailing four quarters and missed in one, the average surprise being 2.8%. In the last reported quarter, it delivered an earnings surprise of 10.9%. Estimates for Medpace's 2024 earnings per share have remained constant at $11.29 in the past 30 days. Shares of the company have surged 81.2% in the past year compared with the industry's 5.4% growth. MEDP's earnings surpassed estimates in each of the trailing four quarters, the average surprise being 12.8%. In the last reported quarter, it delivered an earnings surprise of 30.6%. To read this article on Zacks.com click here.
Tax the super-rich, says a new report commissioned by Brazil for its G20 presidency 2024-06-25 20:05:27+00:00 - RIO DE JANEIRO (AP) — A global tax on the super-rich is proposed in a new report that Brazil commissioned for its current presidency of the leading 20 rich and developing nations. Individuals with more than $1 billion in total assets would be required to pay the equivalent of 2% of their wealth in income tax, according to the proposal in the report by Gabriel Zucman, a French economist who teaches at the Paris School of Economics. The report says global billionaires currently pay the equivalent of 0.3% of their wealth in taxes. It said a 2% tax would raise $200 billion to $250 billion per year globally from about 3,000 individuals — money that could fund public services such as education and healthcare as well as the fight against climate change. “The super-rich pay proportionately less in taxes than other socioeconomic groups,” Zucman told journalists, adding that the practice fuels inequality. He called a progressive tax system a “key pillar of our democratic societies,” essential for strengthening social cohesion and trust in governments. In wealth, billionaires currently own the equivalent of 13% of the world’s GDP, up from 3% in 1987, according to the new report. The proposed tax would target billionaires who do not already pay the equivalent of 2% of their wealth in income tax, the report said. Most global billionaires probably pay below 2% but it is difficult to be more precise, Zucman said. New G20 member the African Union has expressed interest in the proposal, as well as Belgium, Colombia, France and Spain, he said. The issue of inequality is a priority for Brazil in its G20 presidency, along with the reduction of hunger, the promotion of sustainable development and reforms of global governance. A global minimum tax on billionaires is one way of raising funds to make progress on those agendas, Felipe Antunes de Oliveira with Brazil’s Finance Ministry told journalists. He acknowledged that the way ahead would be far from smooth. “We can expect the negotiations to be long,” Oliveira said, echoing similar remarks by Finance Minister Fernando Haddad in February when the proposal was first discussed in Sao Paulo. The gap between the super-rich and the bulk of the global population has grown since the coronavirus pandemic, according to anti-poverty organization Oxfam International, which praised the new report. “This is a sensible and serious proposal that is in every government’s strategic economic interest,” interim executive director Amitabh Behar said in a statement. According to a 2023 study by advocacy group Tax Justice Network, countries around the world could lose up to $4.8 trillion in tax revenue over the next decade due to the use of tax havens by individuals and businesses. ___ Associated Press writer Kenneth Sweet in New York contributed.
North Macedonia announces $500 million project with investors to build country’s largest wind farm 2024-06-25 20:05:15+00:00 - SKOPJE, North Macedonia (AP) — North Macedonia’s government on Tuesday announced a $500 million project with renewables investor Alcazar Energy Partners to build the largest wind farm in the landlocked country. Prime Minister Hristijan Mickoski said the project would significantly boost energy independence, as well as foreign investment. “(It will be) the largest investment in renewable energy sources that we ever had,” Mickoski said. The wind farm, to be located in the country’s southeast, will be one of the largest in the Western Balkans, with a capacity to generate up to 400 megawatts of renewable energy. Construction is expected to begin in early 2026. Once operational, the wind farm is scheduled to produce enough energy to power over 100,000 households annually, while avoiding the release of more than 670,000 tons of carbon dioxide per year. A total 55 wind turbines will be installed, which are meant to provide about 20% of the country’s total electricity output. Alcazar Energy Partners said in a statement that grid connections with Greece, Bulgaria, Serbia and Kosovo, will help reduce energy shortages and support the transition to renewable energy in the Western Balkans. Company managing partner Daniel Calderon said Alcazar Energy “sees North Macedonia as a promising investment location for renewable energy.” The firm, which focuses on renewable energy projects in emerging markets, is headquartered in Luxembourg and has an advisory team based in Dubai. ____ Follow AP’s climate coverage at: https://apnews.com/hub/climate-and-environment
Retirement 'super savers' tend to have the biggest 401(k) balances. Here's what they do differently 2024-06-25 20:00:00+00:00 - A retirement savings crisis is looming for people who have 401(k) plans and other retirement balances woefully short of what they will need to live on. But some workers — called "super savers" — are managing to successfully grow their retirement nest eggs. Super savers are workers who are putting away more than 10% of their salaries toward their retirement plans, according to new research from nonprofit Transamerica Institute and its division Transamerica Center for Retirement Studies. More than half of workers — 56% — are saving 10% or less, according to a 2023 Transamerica study that surveyed more than 5,700 U.S. workers. The rest, 44%, have reached super saver status — with 15% of workers putting 11% to 15% of their annual pay toward retirement, Transamerica said. Meanwhile, 29% are contributing more than 15%. Transamerica said it asked those surveyed to indicate what percentage of their salary they were contributing, and told CNBC it is not clear if respondents included company contributions in their answer. More from Personal Finance: Why inflation is still upending retirement plans Older voters want candidates who will protect Social Security Workers in certain industries tend to have higher 401(k) balances Super savers can be of any age. Notably, the youngest cohort — Generation Z — has the most super savers, with 53%, followed by millennials and baby boomers, each with 44%, and Generation X, with 40%. But accumulating large retirement balances takes time. "I always tell people there's no microwave millionaires," said Ted Jenkin, a certified financial planner and the CEO and founder of oXYGen Financial, a financial advisory and wealth management firm based in Atlanta. To reach $1 million in a 401(k), it often takes a high contribution rate that is sustained over many years, said Jenkin, who is a member of the CNBC Financial Advisor Council.
'A recipe for chaos': Student debt stakeholders react to federal courts blocking Biden's SAVE plan 2024-06-25 20:00:00+00:00 - Summer plans may have just been dashed for federal student loan borrowers hoping to see their payments drop in July. Federal judges in Kansas and Missouri issued rulings on Monday on separate lawsuits aiming to block further implementation of President Joe Biden's Saving on a Valuable Education income-driven repayment plan. The decisions bar the Biden administration from forgiving any more debt under the program and from lowering borrowers' payments on the plan in July, as planned, until the cases are resolved. Borrowers' monthly payments are currently calculated as 10% of their discretionary income, which was scheduled to drop to 5% in July. Some borrowers have already seen their loans forgiven due to the SAVE plan. In February, the administration started clearing balances for borrowers on the SAVE plan who'd been repaying their loans for at least 10 years and started with low initial balances. Now, borrowers who otherwise would be eligible for forgiveness under this plan will wait in limbo while the district courts decide whether the Biden administration has the authority to forgive more debt. "The Department of Justice will continue to vigorously defend the SAVE Plan," Secretary of Education Miguel Cardona said in a statement. Cardona said Republican elected officials and special interest groups are trying to block the SAVE plan, "even though the Department has relied on the authority under the Higher Education Act three times over the last 30 years to implement income-driven repayment plans." For now, borrowers currently on the SAVE plan and those who apply going forward may still be able to lower their monthly payments, depending on their income, though not to the 5% of discretionary income threshold. Borrowers can continue to enroll in the SAVE plan if they haven't already, according to the Federal Student Aid website, which says it will provide more updates soon.
Massachusetts Senate debates bill to expand adoption of renewable energy 2024-06-25 19:56:56+00:00 - BOSTON (AP) — The Massachusetts Senate debated a bill Tuesday aimed at expanding the adoption of renewable energy in a bid to help Massachusetts meet its climate goals, including reaching net zero greenhouse gas emissions by 2050. Supporters say the proposal will help lower utility bills by directing providers to offer discounted rates to consumers with low- and middle-incomes and give the state more flexibility to negotiate contracts with providers. The bill would also ban “competitive electric suppliers,” which cost Massachusetts consumers more than $577 million over the past eight years, according to a report from the state attorney general’s office. The companies have argued that they can help consumers save money and purchase renewable energy. If passed into law, the bill would also expand electric vehicle infrastructure by making it easier for local and state entities to purchase EV charging equipment, permit EV charging installation for condo owners, and extend an EV tax incentive program for vehicles purchased through 2027. Senate President Karen Spilka said Massachusetts has felt the toll of climate change with heat emergencies in cities and farms underwater from torrential rains. “We must leave our kids with a livable planet. This legislation takes concrete steps towards doing so,” she said. In 2022, then-Gov. Charlie Baker signed a bill into law encouraging the development of offshore wind and solar energy and helping to limit the use of fossil fuels in building projects as a way to help bring the state get closer to its goal of net-zero greenhouse gas emissions by 2050. To help reduce building emissions, the Senate bill would let gas companies pursue geothermal projects, mandate consideration of greenhouse gas emissions when expanding or replacing gas pipelines and require the state to evaluate the greenhouse gas emissions of each state-owned property. The bill is also intended to help speed up for solar, wind, storage, and other clean energy infrastructure projects by setting 15-month permitting deadlines for larger projects, and 12-month deadlines for smaller projects. It would also make future renewable energy projects more competitive while allowing Massachusetts to partner with other New England states to help drive down costs and promote innovation in technologies to mitigate climate change. Debate on the climate legislation followed approval last week by the Senate of a companion bill aimed at curtailing the use of plastics in Massachusetts, including barring the purchase of single-use plastic bottles by state agencies. The bill, approved Thursday, also bans carry-out plastic bags at retailers statewide and require stores to charge 10 cents for recycled paper bags. It also requires straws and plasticware to be available only by request and creates a program to recycle large items like car seats. The move comes as a growing number of states are address concerns about plastics that harm wildlife, pollute waterways and clog landfills. The plastics bill now heads to the Massachusetts House for consideration.
How Netanyahu is playing Biden on Israel's cease-fire proposal 2024-06-25 19:50:26+00:00 - At the end of May, President Joe Biden announced that Israel had proposed a three-phase plan to achieve a permanent cease-fire and the return of hostages taken by Hamas. Dennis Ross, the former U.S. special envoy to the Middle East, told MSNBC at the time that the plan had been approved by the Israeli war cabinet, and a number of news outlets also reported news of cabinet approval. Biden’s speech clearly signaled that he wanted Israel to stick with the plan. But just a few days later, an Israeli official told NBC News that Biden’s description of the proposal was “not accurate,” and reports emerged in the Israeli press that Israeli Prime Minister Benjamin Netanyahu was telling members of the Knesset that the proposal Biden described was incomplete. Then, on Sunday, Netanyahu told Israel’s Channel 14, a pro-Netanyahu network, that he only supports a “partial deal” that will release “some of the hostages” and allow him to carry on some fighting in the Gaza Strip. In other words, he was walking back his own proposal. But the very next day, Netanyahu said he’s still committed to the original proposal. Ultimately he wants to prolong the war as long as possible to keep his governing coalition intact. Why is Netanyahu being so squirmy? He’s contorting himself to try to appeal to different crowds. He wants to appear at least somewhat responsive to critics of his military strategy in Gaza. But ultimately he wants to prolong the war as long as possible to keep his governing coalition intact — and delay having to face potential consequences for looming corruption charges and for mishandling national security ahead of Hamas’ Oct. 7 attacks. The Biden administration is once again being played by Netanyahu. There’s no evidence that Netanyahu will take steps to end the war without having his hand forced by the U.S. “His personal political considerations outweigh everything else,” Chuck Freilich, a former deputy national security adviser in Israel, told me. “He’s willing to pay a price in Israeli relations with the U.S., which is one of the most important issues for Israel’s entire national security strategy. And he’s certainly willing to pay a price with part of the electorate.” The portion of Netanyahu’s language that seems to support a cease-fire proposal allows him to claim to domestic audiences that he’s making progress toward a long-delayed goal of freeing Israel’s hostages who remain captive in the Gaza Strip. Polls show that most Israelis still support Netanyahu’s military operation, but most also dislike Netanyahu and support a hostage deal. Hamas has responded to Israel’s cease-fire proposal with demands regarding security guarantees during the phase transitions that Israel has said are tantamount to a rejection of the proposal. But regardless of the ongoing negotiations on that front, the question of Netanyahu’s sincere commitment to an actual permanent cease-fire plan remains. Netanyahu can also use seemingly pro-cease-fire rhetoric to give the impression that he’s listening to Biden and other critics around the world who’ve been pressing him to end a military operation which has killed civilians en masse, destroyed the Gaza Strip and been characterized by international human rights groups and some Israeli scholars as genocidal. But it’s foolish and dangerous to believe Netanyahu favors a path to peace. His governing coalition relies on extreme right-wing parties that adamantly oppose ending the war and whose goal includes Israel reviving a military occupation of the Gaza Strip and resettling the territory. Rashid Khalidi, a historian at Columbia University, told me he believes that Netanyahu “clearly does not intend to have a permanent cease-fire” because the government is “hostage” to those right-wing parties. Those parties have said they will defect from Netanyahu’s coalition if he takes any serious steps to end the war, which would cause his government to collapse and him to lose power, Khalidi said. The end of the war would also mean Netanyahu facing a grand reckoning. A commission of national inquiry investigating what went wrong in Israel’s security in the run-up to the Oct. 7 attacks could conclude that Netanyahu bears serious responsibility and should be barred from being prime minister. And Netanyahu’s corruption charges, the prosecution of which has been delayed by the war, would probably pick up speed and could result in his imprisonment. Netanyahu has alienated top political and military leaders in Israel by dragging his feet on the question of ending the war and allowing his political interests to dictate policy. Former Gen. Benny Gantz quit Netanyahu’s war Cabinet citing the prime minister’s failure to commit to a clear postwar plan. And in a remarkable break from protocol, the Israel Defense Forces’ top spokesperson openly undermined Netanyahu’s military strategy by saying that Netanyahu was “throwing sand in the eyes of the public” by promising that it was possible to completely destroy Hamas. “Hamas is an idea. Anyone who thinks we can eliminate Hamas is wrong,” he said in a recent interview with an Israeli broadcaster. “The political echelon needs to find an alternative — or it will remain.” The Israeli military has dismantled most of Hamas’ battalions, but its assessment is that it’s impossible to kill every Hamas fighter or the idea of armed resistance. And Hamas is already raking in new recruits. The upshot of all this is that gentle pleas from the U.S. are not going to halt Netanyahu’s relentless military operation. Netanyahu is seemingly not only indifferent to Palestinian life, but also the wishes of the Israeli security establishment and the parts of the Israeli public keen to see the hostages back. Biden must exercise the leverage the U.S. has over Israel and give it an ultimatum to find a way to end the war.
New video and documents revive questions about Saudi role in 9/11 attacks 2024-06-25 19:49:00+00:00 - A newly released video and other documents are reviving questions about whether a Saudi national who FBI officials believe worked for Saudi Arabia’s intelligence service played a role in the 9/11 attacks. The Saudi national, Omar Al-Bayoumi, was the focus of years of investigation by the FBI's San Diego field office because of his association with two of the 9/11 hijackers, Khalid al-Mihdhar and Nawaf al-Hazmi, prior to the attack. The video, which was unsealed in federal court last week, was a self-narrated video that shows Al-Bayoumi giving a tour of landmarks in Washington, DC. The video was shot over several days in 1999 and included footage of entrances, exits and security checkpoints in the U.S. Capitol. Federal officials believe that 9/11 hijackers planned to crash one of the planes, United 93, into the U.S. Capitol before passengers stormed the cockpit and forced it to crash in rural Pennsylvania. Bayomi’s video of Washington was first aired by CBS News last week. NBC News and a San Diego area publication reported the existence of the video soon after the 9/11 attacks. The video was one of the items investigators found in Al-Bayoumi’s apartment in the United Kingdom after the 9/11 attack. They also found a notepad of mathematical calculations related to flying an airplane and a video of a party in San Diego where the two hijackers and Al-Bayoumi were present. The disclosures prompted some former law enforcement officials and the families of some 9/11 victims to call for further investigation. “As a former FBI Special Agent who took part in the investigation of the 9-11 attacks (Flight 93), of which the majority of the terrorists were Saudi, I have so many questions here," William Evanina, who was head of the National Counterintelligence and Security Center during the Trump administration, posted on X this weekend. “Evidence is evidence. And it took a civil court case for the release?”” Evanina was referring to a lawsuit brought by the families of 9/11 victims after hundreds of pages of FBI documents were declassified and released in 2022. Attorneys representing the families filed lawsuits requesting that some of the underlying evidence used to create those FBI reports be released as well. Two FBI reports that were among the recently released documents say that Al Bayoumi was believed to work for Saudi intelligence. “Reliable assets and other members of the San Diego Muslim community believe Al-Bayoumi works for the Saudi intelligence service,” one of the documents says. Sept. 11 hijackers Khalid al-Mihdhar, left, and Nawaf al-Hazmi. FBI via Reuters file A separate FBI report describes Al-Bayoumi as a paid informant of the Saudi General Intelligence Presidency, known by the acronym GIP, and was paid a monthly stipend from the late 1990s to Sept. 11, 2001. Al-Bayoumi is believed to be living in Saudi Arabia. A spokesperson for the Saudi Arabian Embassy in Washington said it was reviewing NBC News’ questions about Al-Bayoumi and his ties to Saudi Intelligence. In late September 2001, the Metropolitan Police Service in the U.K. searched Al-Bayoumi’s apartment north of London and discovered the handwritten document that contained mathematical calculations related to flying airplanes. The handwriting specifically refers to planes and height. In a report, FBI agents say they had a theory that the document and associated equations could be used to “calculate the rate of descent when flying a plane” A pilot that FBI agents consulted in 2012 told them that the equations could be used to help fly a plane. “Given a distance from a target, the altitude at that location, and the current airspeed,” the pilot said, “one could calculate the rate of descent and plug it into the computer on the plane in order to initiate a descent to that target.” The pilot said he had doubts that someone with limited training could calculate the latitude and longitude and then use those calculations to fly a plane to a target from 35,000 feet. Given the clear weather on 9/11 and at an altitude of 8,000 to 10,000 feet, one could see for approximately 100 miles and use the waypoints on aviation maps and the plane’s autopilot to calculate the distance to certain points, the report says. The pilot apparently told the FBI that “when measuring the distance by hand between waypoints on these maps, one could be accurate” within half a nautical mile or better. The FBI report ends with: “REDACTED could not think of any other reason for the equation given the parameters set forth on the document than to calculate the descent rate from a given altitude.” Questions about whether al-Mihdhar and al-Hamzi were aided in San Diego have lingered for years. Both spoke little English and had no ties to the United States. Al-Bayoumi was seen with them on several occasions, according to the 9/11 Commission report and follow-up FBI reports.
Ford steals market share, plus bank stress tests and Pool Corp's ripple effect 2024-06-25 19:40:00+00:00 - Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market Wrap: The S & P 500 is higher Tuesday, on track for its first positive session in a week. But once again, the action is very lopsided. After three sessions of heavy rotation out of tech and AI winners and into other areas of the market, the market has shifted back to tech and momentum leaders. One reason for the flip back: These tech names generally have some of the cleanest multiyear growth stories and strongest fundamentals, creating a "defensive" trade in an uncertain macro environment. So when cracks are forming in other areas of the market, investors quickly return to where the growth is the strongest: tech. A negative business update from Pool Corp didn't help with the broadening out trade. The wholesale pool supplies distributor on Monday said new pool units could be down 15% to 20% in 2024 and remodeling activity could fall 15%. As a result, the company lowered its earnings forecast, sending shares down 7% Tuesday. Pool Corp's weakness is dragging down good companies along with it. Adds Jim Cramer: "Do Builders FirstSource , Tractor Supply , and Lowe's all deserve to be down this big off of Pool Corp? I think that all three will jump if we get a soft PCE [personal consumption index] on Friday and, in particular, TSCO can snap back hard." The consensus May estimate, per FactSet, calls for an annual increase of 2.6% on both headline PCE and the core rate, which excludes often-volatile food and energy prices. Then at an investor conference in London, Walmart CFO John Rainey talked about challenging comparable sales, and Union Pacific said its quarter had "a little bit more minuses than pluses." Despite the rebound in tech Tuesday, Cramer said Micron needs to report a strong number Thursday to restart the rallies in AI. "Nvidia is shaking off sellers but remember that a stock that is up 5% is not back to even if it fell 6% the day before. I continue to think that to get Nvidia back up you need a strong takeaway from Micron on data center growth," he explained. Scoop: "Intelligence I have tells me that Ford 150 is taking share from Stellantis this quarter despite a hedge-fund-based story about how it is losing share." Ford was one of nine stocks we believe will benefit when the Federal Reserve begins cutting rates. Stress tests: With the annual bank stress test results due out Wednesday after the bell, Jefferies took a look at how bank stocks have fared since 2021 immediately following the release. Wells Fargo has been at top of the pack three years in a row, according to the Jefferies note to clients. We take those past results with a grain of salt. As Jefferies analysts said, stress test "outcomes are difficult to model." Still those results show a positive bias for shares of banks that pass. The stress tests are also what banks use to model their capital returns to shareholders. Often in the days following the results, the banks with excess capital on their books will increase dividends or buybacks (or both). Up next: FedEx reports after the bell and its stock has been pretty weak since its last quarter, driven lower by concerns of a slowdown and fallout from announcing it did not reach an agreement with the United States Postal Service on a new contract. General Mills and Paychex report Wednesday before the bell. — Morgan Chittum contributed to this report. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. The new Ford F-150 truck goes through the assembly line at the Ford Dearborn Plant on April 11, 2024 in Dearborn, Michigan. Bill Pugliano | Getty Images
Analyst Sees Keros Therapeutics As Next Acceleron, Set For Major Biotech Growth - Keros Therapeutics (NASDAQ:KROS) 2024-06-25 19:39:00+00:00 - Loading... Loading... Oppenheimer initiated coverage on Keros Therapeutics Inc KROS, a clinical-stage biopharmaceutical company that develops and commercializes novel therapeutics for disorders linked to dysfunctional signaling of the transforming growth factor-beta family of proteins. Oppenheimer writes, “Keros is developing best-in-class therapeutics that regulate TGF-β signaling to treat hematological and cardiopulmonary diseases. We consider its pipeline one of the more attractive in biotech today, given its disease-modifying potential in indications with considerable unmet need.” Keros’ lead product candidate, KER-050 (elritercept), is being developed for low blood cell counts or cytopenias, including anemia and thrombocytopenia, in patients with myelodysplastic syndromes (MDS) and myelofibrosis. The analyst sees elritercept as the potential preferred 2L treatment in MDS with durable responses and benefits. At the EHA update, an overall hematologic response was observed in 56% of the mITT24 patients, with transfusion independence (TI)≥8 weeks achieved in 41%. Oppenheimer initiates with an Outperform rating and a price target of $102. Keros’ second product candidate, KER-012 (cibotercept), is being developed for pulmonary arterial hypertension (PAH) and cardiovascular disorders. Cibotercept’s safety/efficacy profile is potentially better than Merck & Co Inc’s MRK newly approved Winrevair (sotatercept-csrk) for PAH. Keros’ third product candidate, KER-065, is being developed for obesity and neuromuscular diseases. KER-065 might be the dark horse candidate in obesity. Data support inhibition of myostatin and activin A for maximal increases in lean muscle mass and fat loss with clean safety. In the near term, the main factors driving value for Keros are MDS and myelofibrosis. Looking ahead, there are significant growth opportunities in pulmonary arterial hypertension (PAH) and obesity, which could yield substantial benefits over the next 12-18 months, the analyst writes. Given management’s track record in developing drugs that influence the TGF-β signaling pathway, these initiatives are seen as relatively low-risk. Oppenheimer likens Keros to Acceleron, which achieved considerable success and was acquired by Merck for $11.5 billion in 2021. Price Action: KROS shares are down 0.82% at $46.10 at last check Tuesday. Read Next: Image created using artificial intelligence via Midjourney.
I'm an American who's lived in Paris for 15 years. Taking these 5 notes from the French has really improved my life. 2024-06-25 19:38:02+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 Fifteen years ago, I met with love on New York's Prince Street. The stuff of fairy tales? Mais oui! He was a handsome Italian living in Paris. Five months and many visits after our first encounter, I bid farewell to my family, friends, and customs and moved to France, welcoming all the curiosities and clichés composing my new life. Thanks to my Polish mother, I had an EU passport and an open mind that I credit to my bicultural upbringing. And, looking back after well over a decade of la vie Parisienne, I can say I've adapted well. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. There have been difficulties along the way. After all, Paris is still one of the most expensive cities to live in. Advertisement But these five lifestyle changes have allowed me to embrace French culture in the best way — you may want to give them a try wherever you are. Since moving to Paris, taking time for a midday meal has become a welcome practice Lunch was more of an afterthought during my chaotic life in New York City, where I'd often stare into my computer screen while gulping down a Cobb salad. These days, lunch is an event. Whether I'm attending a fancy work lunch or grabbing a bite with friends, I take time to consider not only the menu but also my company. Sometimes, even a glass of wine is part of the ceremony. On days when I'm pressed for time, I'll dine at home or pick up a fresh baguette and savor every crispy bite from a bench in my neighborhood park. Advertisement Eating on the run (or in the metro) is a thing of the past. I also allow for a coffee break in the afternoon in which I perch at a café and watch the world go by, even for just a moment. Farm-to-table dining is a way of life in France, both in restaurants and at home I shop at farmers markets regularly. Kasia Dietz Cooking has become a regular ritual, and one that I even enjoy, particularly when my Italian chef takes over. Most of my meals used to be eaten outside of my home, if not ordered in. Now, rather than amassing takeaway menus, I collect cookbooks. Related stories With two farmers markets weekly per neighborhood in Paris, I also now think in terms of seasons when it comes to food. Every spring, I look forward to the strawberry harvest. Before moving, I'd never even been aware of all the varieties and flavors of the fruit. Advertisement There are also many vegetables, like white asparagus and turnips, I once took no notice of that now play a leading role in my kitchen. It feels like quite a contrast to life in New York, where supermarket shelves were fully stocked regardless of what was actually in season. Wine has become my drink of choice From Bordeaux to Burgundy, wine has become my drink of choice in a country reputed for its vineyards. My frequent nights of cocktails followed by late-night fare have been replaced by a glass of wine paired with a healthy dinner. My body thanks me — after all, red wine is a healthier option than sugary mixed drinks. Advertisement Plus, nothing complements a well-cooked meal like a good vintage. With so many leading bars in my neighborhood (like Little Red Door and Candelaria), I still enjoy a creative libation but much prefer the early evening art of the apéro. I've become passionate about sustainability in fashion I've really embraced sustainability in the fashion industry. Kasia Dietz One of the most significant lifestyle changes I've made since moving to Paris is connected to sustainability. Living in the fashion capital and moonlighting as a handbag designer has led me to meet talented fellow designers who produce limited-edition collections in Paris. Advertisement I've become dedicated to supporting these local artisans by almost entirely shopping for items made here, and vintage clothing and accessories. My new philosophy of collecting instead of consuming allows me to save both time and money by not being tempted by fast fashion and fads. Plus, I buy less but better. To further celebrate local design, I even lead custom fashion tours to introduce visitors to unique and ethically-minded Parisian brands. Lastly, I've learned how to disconnect from work As much as I love what I do for work, I understand how important it is to rest and reset. Advertisement That doesn't mean a month of summer Fridays, as was the practice for many companies in New York. In France (and much of Western Europe), it means taking off all or most of August to soak beneath the Mediterranean sun or retreat to a family home in the countryside. I still do tend to check my emails often — I am a New Yorker, after all — but I embrace the month when Paris rests, and life is lived at a slower and more mindful pace.
Volkswagen is using AI to speed up and scale marketing, while also integrating ChatGPT into its vehicles, says CMO Susanne Franz 2024-06-25 19:36:45+00:00 - Link icon An image of a chain link. It symobilizes a website link url. Link icon An image of a chain link. It symobilizes a website link url. Copy Link Link icon An image of a chain link. It symobilizes a website link url. Copy Link Twitter LinkedIn icon LinkedIn Link icon An image of a chain link. It symobilizes a website link url. Copy Link Share icon An curved arrow pointing right. Share icon An curved arrow pointing right. Twitter LinkedIn icon LinkedIn Link icon An image of a chain link. It symobilizes a website link url. Copy Link Email icon An envelope. It indicates the ability to send an email.