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Palo Alto Networks is buying security assets from IBM to expand customer base 2024-05-15 21:31:00+00:00 - Nikesh Arora CEO & Chairman Palo Alto Networks, speaking on CNBC's Squawk Box at the WEF Annual Meeting in Davos, Switzerland on Jan. 16th, 2024. Palo Alto Networks is buying cloud security software assets from IBM as part of a broader partnership that will give the cybersecurity company access to more consultants and a bigger customer base. In a joint press release, the companies said Palo Alto is acquiring IBM's QRadar cloud software for an undisclosed sum and migrating existing customers to its security platform, Cortex Xsiam. IBM will train over 1,000 of its consulting employees on Palo Alto's products. Consolidation has been ramping up in the security software industry as companies gear up for a swarm of attacks spawned by artificial intelligence. In March, Cisco closed its $28 billion acquisition of Splunk, the networking company's largest deal ever, snapping up the leading provider of security information and event management (SIEM) software. Earlier on Wednesday, two other companies in the SIEM market, Exabeam and Thoma Bravo's LogRhythm, announced plans to merge. Nikesh Arora, Palo Alto's CEO, told CNBC that his company needs to be better prepared to go up against Splunk. "Clearly, it's just a hotbed of activity in the consolidation in cybersecurity," Arora said. Palo Alto and IBM have been working more closely together for months, and Arora said he'd been talking with IBM CEO Arvind Krishna about how to advance their partnership. But they both sold SIEM software. "We used to get stuck there," Arora said. In December, IBM said its consulting group would offer Palo Alto's competing Cortex Xsiam software to customers. IBM will now adopt Cortex Xsiam, as well as Palo Alto's Prisma Sase 3.0 product bundle. Palo Alto will incorporate IBM's Watsonx large language models into Cortex Xsiam, in addition to its use of models from Google . The SIEM category has been around for over 20 years, but Palo Alto just introduced Cortex Xsiam two years ago. It's rapidly gained adoption, with over $90 million in bookings in the latest quarter, and Arora said the company has been taking market share from "everyone." For IBM, a more robust lineup of contemporary security tools for consulting might help the company deliver on its stated goal of revenue growth in the mid-single digits for 2024. In the first quarter, revenue increased 3%, with a 2% bump in the consulting segment. Palo Alto is growing much faster than IBM. In the January quarter, revenue jumped 19%. The company will report results for the latest quarter on Monday. Palo Alto more than doubled in value last year and its stock is up 6% in 2024, lifting the company's market cap past $100 billion. The stock rose more than 1% in extended trading. IBM is up close to 5% this year and is now valued at $154 billion. The companies said the transaction should close by the end of September, subject to regulatory approval and other conditions. WATCH: IBM CEO Arvind Krishna on revenue miss, consulting business and HashiCorp acquisition

Supreme Court allows Louisiana to use congressional map with second majority-Black district 2024-05-15 21:31:00+00:00 - WASHINGTON — The Supreme Court on Wednesday paved the way for Louisiana to use a congressional map in this year's election that includes two majority-Black districts. The court granted emergency requests filed by an unlikely alliance of Republican state officials and civil rights groups, who were united in asking the high court to block a lower court ruling that invalidated the most recently drawn map. State officials had said they needed to have the map finalized by Wednesday to meet bureaucratic deadlines and avoid "disarray." Black voters have historically voted for Democrats, and a map with two majority-Black districts could give them an opportunity to pick up a seat, which could help them regain control of the closely divided House of Representatives. The court's three liberal justices dissented, with Justice Ketanji Brown Jackson writing that the state still had time to draw a map that would address the various legal questions that have been raised. The court has a 6-3 conservative majority. "There is little risk of voter confusion from a new map being imposed this far out from the November election," Jackson wrote. The liberal justices have objected in previous cases when the court has acted to block changes to district maps or election laws in an election year, often in ways that benefited Republicans. Internal divisions on that issue flared in 2022 when the court blocked a ruling that invalidated a congressional district map in Alabama. Then, conservative Justice Brett Kavanaugh defended the move, saying it was a "bedrock tenet" of election law that "the rules of the road must be clear and settled in an election year." The majority did not explain in detail its reasoning in Wednesday's decision. Louisiana’s map has been the subject of intense litigation, with the state’s original effort ruled to be a racial gerrymander. Using the Legislature’s original map, Republicans won five of the six districts in the 2022 elections. That map was subsequently redrawn after the Supreme Court last summer unexpectedly buttressed the federal Voting Rights Act by ruling that the similar congressional map in Alabama, the same one it had previously allowed to be used in 2022, discriminated against Black voters. But after the new Louisiana map was drawn, a new group of plaintiffs who are each described in court papers as “non-African American” brought a legal challenge saying it violated the Constitution’s 14th Amendment, which ensures the law applies equally for everyone. Those plaintiffs argued that drawing a second majority-Black district was itself a form of discrimination against non-Black voters. A federal court struck the new map down, but with time running out to finalize the congressional districts before this year’s elections, state officials told the Supreme Court that it was essential to “avoid chaos and confusion.” The plaintiffs in the new case said the state’s deadlines were “hopelessly arbitrary,” in part because there is no spring primary election. Louisiana does not have traditional primary elections like those in other states; instead, all candidates appear on the Election Day ballot in what is known as a “jungle primary.” The state recently revised its election laws, with more party primaries like those in other states set to be introduced in 2026.

Reopen the NYC-Dublin livestreaming portal, you cowards! It was an example of tech bringing humans together. 2024-05-15 21:27:54+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. The portal between New York City and Dublin — a giant video installation livestreaming between the two locations — has been shut down due to bad behavior. This is terrible. The portal should reopen! In fact, we should have portals all over the country, all over the world — connecting two random places. We should have a portal between Miami and Tokyo, Florence and Dubai, Delhi and Stockholm. Currently, there's a portal between cities in Lithuania and Poland, but let's dream even bigger. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. We live in a world where technology can feel menacing. We worry about what AI is doing to the information we consume, the art we see — and how it might degrade both. This week, OpenAI and Google debuted new ways to interact with AI. OpenAI's voice assistant drew comparisons to the movie "Her" in ways that were both flattering and dystopian. Related stories But the portal is a case of technology that's just pure joy. Advertisement It's simple, there's nothing too deep to think about. It's not even "new" tech — video streaming between two locations is not exactly novel, although I suppose "it's really big" differentiates it from, say, FaceTime. The situation is what makes it different — video chatting technology is usually personal, used at home or in your office conference room. Putting it in a public space, with other strangers — that makes it fun and special. It is pure and human to be curious about strangers in another country, to be excited about the idea of seeing someone else across the screen, knowing they can see you, too. It's fun. It's delightful. Unfortunately, there was some bad behavior during the NYC-Dublin link-up. New Yorkers taunted the Dubliners with potatoes; a Dubliner held up a photo of 9/11. Someone in Dublin mooned the New Yorkers, and then there was the woman who flashed her breasts to the Dubliners. Not ideal (although not even necessarily illegal in NYC). Besides, the flasher was a really specific case — she is a TikTok and OnlyFans influencer named Ava Louise who has also been involved in some other headline-grabbing scenarios, like licking a plane toilet seat during Covid, being involved with Addison Rae's father, spending a night with Antonio Brown before his mid-game retirement, and admitting to starting a rumor about Ye (formerly Kanye) West and Jeffree Starr dating, and appearing on the Dr. Phil show. Whew. Let's chalk this up to a highly unique case of one individual with a particular knack for spectacle rather than the portal being a temptation for constant flashings. Advertisement The portal was a magical thing — a rare public artwork with fun utility that reminded us of how technology can bring the world together in the simplest way. Sure, there was a little mayhem, but it's not worth shutting down the whole thing over. We can't let a few potatoes or boobs take that joy from us!

Alphabet closes at all-time high as Google rebounds from disastrous start to AI race 2024-05-15 21:19:00+00:00 - Maybe Alphabet isn't so far behind in the AI arms race after all. This week's show-and-tell at Google's annual I/O developers conference went a long way toward restoring investor confidence in the company's artificial intelligence capabilities. Several Wall Street firms took notice, including Goldman Sachs, Oppenheimer and Citi, sending positive notes to clients. Google I/O 2024 "should assuage fears over [Alphabet's] AI competitive position," analysts at Oppenheimer wrote in a research note to clients on Wednesday. Citi was also impressed. "We emerge from I/O incrementally positive on shares of Google," Citi analysts wrote in a Tuesday report. This week's update, on the heels of Alphabet's knockout first-quarter report on April 25, pushed its shares to an all-time closing high Wednesday of $172.51 each. Shares are up 2.3% so far this week. GOOGL YTD mountain GOOGL stock performance year-to-date. It has been quite a turnaround for Alphabet, which was slammed last year for rushing the rollout of its AI-powered chatbot Bard after getting beat to market by ChatGPT from Microsoft -backed OpenAI. Other missteps followed, leading many, including Jim Cramer, to believe Google had lost focus and couldn't shake the perception that it was falling behind on the new technology. For many, that perception began to change after Alphabet's cloud-computing summit in April showed it could still innovate and make progress in the new technology. This week's conference just put an exclamation point on it. Among the many big reveals were an improved Gemini (formerly Bard), which promises to increase productivity on Google apps, search enhancements, and an AI-powered video tool. The company's overarching goal is to integrate generative AI into every aspect of its product offerings to help users make everyday work tasks easier. Here are some of those key updates. Gemini 1.5 Pro is getting a larger context window, meaning it can ingest and analyze greater amounts of data. Gemini Live is perhaps one of the most exciting announcements from the perspective of a consumer wondering how generative AI is going to make life easier and searching/researching more frictionless. Gemini Live is akin to smart assistants like Siri and Alexa — but actually smart since it's built on Google's generative AI models. Users can chat with those models in real time and ask questions about almost anything using multimodal inputs such as audio, text or visuals. Generative AI is also going to enhance apps such as Gmail and Photos with a better understanding of the content that will provide better search for photos or emails. One example shared during the conference: The user can leverage the new "Ask Photos" tool to ask for his or her car's license plate number. Until now, most apps can tell which photos include a license plate, but Google will go find your plate number. As CEO Sundar Pichai stated, "It knows the cars that appear often, it triangulates which one is yours, and just tells you the license plate number." Android devices are also getting an upgrade to better find content, but, along with some other enhancements like Gemini in Gmail, will require a paid subscription. Here's the full list of Alphabet's AI updates. There are still headwinds. Most notably, there are worries that the new AI technology will cannibalize Alphabet's core Search & Other Business unit, which still accounted for 57% of the company's revenue in the first quarter. "I was using Google Search versus using ChatGPT … [and] ChatGPT was so much more thorough than Google without ads. So, I still think the existential threat is there," Jim said Wednesday. "However, these guys have YouTube, which is 10% of our TV time and I think there's a sense they'll make it better," he added. The company now seems to be on the right track, "presenting the next step forward in the race for consumer and enterprise AI," Oppenheimer wrote. The firm noted Alphabet is in a "strong competitive position" due to its unlimited research and development budget, access to the largest user and data library, and years of machine learning focus. Goldman also had a bullish long-term view, noting the new AI developments can rapidly gain scale of adoption by leveraging its global user base and suite of apps and services. As more users grow accustomed to Gemini, the technology should become increasingly more useful and seamless. That should make it feel more like a co-worker or assistant and less like a tool. We see this leading to increased engagement with Google's suite of product offerings and additional revenue streams. We can even envision a future in which not paying for access to a cutting-edge AI assistant, such as the forthcoming Android one, would be like not having a smartphone. It's now clear that Alphabet has the technology to compete in AI — and unlike most of its competitors, the company has a broad suite of products ready to go, including Gmail, YouTube, search, and enterprise applications, all of which will increasingly benefit from AI. With the stock trading at 20 times 2025 earnings-per-share estimates, the risk to search is already priced in. The next big question in AI: Who will Apple choose to partner with for its own AI features? Google, where the company already has a deep relationship because of search? Or OpenAI? The answer could determine the stock's next big move, and we could find out next month when Apple holds its Worldwide Developers Conference (WWDC). (Jim Cramer's Charitable Trust is long GOOGL, MSFT, AAPL. See here for a full list of the stocks.) 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. Google CEO Sundar Pichai speaks at the Google I/O developer conference. Andrej Sokolow | Picture Alliance | Getty Images

Blinken moonlighting as a rock star in Ukraine isn't helping 2024-05-15 21:16:50+00:00 - On his latest visit to Ukraine this week, Secretary of State Antony Blinken made a surprise appearance at a bar in Kyiv, where he took the stage to perform a cover of a Neil Young song. “Listen, I know this is a really, really difficult time,” Blinken told the crowd at Barman Dictat on Tuesday night, a red guitar slung over his body. “Your soldiers, your citizens, particularly in the northeast in Kharkiv, are suffering tremendously. But they need to know, you need to know, the United States is with you, so much of the world is with you,” he said. “And they’re fighting not just for a free Ukraine but for the free world, and the free world is with you, too. So maybe we can try something?” With the band behind him, Blinken then jammed out to "Rockin' In the Free World." Now, politicians have long misunderstood or opted to ignore the meaning of songs that on the surface seem like flag-waving anthems. “Rockin' In the Free World” is a less than patriotic song about the bleak malaise of American society — and it doesn't even have anything to do with foreign policy. Blinken is not the first U.S. government official to show off his musical skills, and he probably won’t be the last. But one has to wonder how much thought was given to the optics of this photo op: Blinken is role-playing as a rock star as Ukraine struggles to withstand Russian troops' latest offensive on Kharkiv — a kind of "Nero fiddling as Rome burns" vibe that some critics have chided as "inappropriate." Blinken arrived in Kyiv on Tuesday to meet with Ukrainian President Volodymyr Zelenskyy and to assuage concerns about the delivery of U.S. aid to the besieged country. It’s probably unwise to try to make too much of a stunt like this, good or bad. But if you're a U.S. secretary of state trying to give the people of an allied country a pick-me-up, maybe next time choose a song that isn’t about America's failings.

The US and Pacific ally Japan are teaming up to defeat new hypersonic missiles that right now are basically unstoppable 2024-05-15 21:16:19+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. 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 The US and Japan have agreed to work together to develop a defense system to defeat hypersonic missiles, according to the US Department of Defense. Hypersonic missiles are a daunting challenge and nearly impossible for current missile-defense systems to stop because they can fly low and maneuver along unpredictable flight paths, making the new project the US and Japan are working on significant as the two allies face emerging Russian and Chinese missile threats. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. On Wednesday, the US and Japan "finalized a formal agreement for a Glide Phase Interceptor (GPI) Cooperative Development (GCD) Project Arrangement," which aims to develop a missile defense system that can effectively intercept hypersonic weapons in the glide phase of their flight. Related stories The new bilateral agreement is the culmination of over a year of talks between the two countries. Plans for the co-development of a GPI were originally announced in August 2023 during a Japan-US summit. The US Missile Defense Agency will lead the development of the GPI, while Japan will contribute specific components. Advertisement In their joint statement, the allies said that the coming "GPI will deliver a regional defensive capability over time as part of a holistic layered defensive architecture. The GPI co-development will build upon long-standing U.S.-Japan missile defense cooperation and strengthen the Alliance deterrence posture." Russian navy frigate Admiral Gorshkov launching a Zircon hypersonic missile in White Sea, Russia, on July 19, 2021. Russian Defense Ministry Press Service via AP, File The development of the planned GPI could be a game-changer against hypersonic threats, which neither country currently has the ability to defeat. Though US weaponry has defeated adjacent threats like Russia's Kinzhal air-launched ballistic missile, current missile defenses would likely struggle against actual hypersonic weapons like China's DF-17 equipped with a hypersonic glide vehicle or Russia's Zircon scramjet-powered hypersonic cruise missile. Cooperation on the GPI comes as the US and Japan face an expanding Chinese missile force capable of targeting US bases in Japan, as well as other positions in the Pacific region, and increasing cooperation between Moscow and Beijing that has American intelligence re-evaluating its defenses. Notably, Pyongyang is also attempting to develop what it says are hypersonic missiles. Advertisement Current and former US military leaders have expressed concerns about China's missiles, and US lawmakers and experts have said that the US lacks sufficient active and passive defenses to defend against a bombardment that could include hypersonic weapons. DF-17 medium-range ballistic missiles equipped with a DF-ZF hypersonic glide vehicle in a military parade to mark the 70th anniversary of the Chinese People's Republic. Zoya Rusinova\TASS via Getty Image The GPI project is not the first time the US and Japan have worked together on missile defenses. The allies successfully tested the jointly developed Standard Missile 3 (SM-3) Block IIA interceptor in a February 2017 intercept of a ballistic missile target. The SM-3, part of the Aegis Ballistic Missile Defense system, was used in combat for the first time in April during Iran's missile and drone strike against Israel. At the time, the launch of the SM-3 was significant not only because of its unprecedented use in combat, but also due to its unique capability to eliminate targets outside of the Earth's atmosphere, or exo-atmospherically.

Warren Buffett’s Berkshire Hathaway reveals insurer Chubb as confidential stock it’s been buying 2024-05-15 21:13:00+00:00 - Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. Insurer Ace Limited acquired the original Chubb in 2016 for $29.5 billion in cash and stock, and the combined company adopted the Chubb name. Evan Greenberg, CEO of Chubb, is the son of Maurice Greenberg, the former chairman and CEO of insurance giant American International Group. Shares of Chubb jumped nearly 7% in extended trading following the news of Berkshire's stake. The stock has gained about 12% year to date. His conglomerate Berkshire Hathaway has bought nearly 26 million shares of Zurich-based Chubb for a stake worth $6.7 billion. The property and casualty insurer became Berkshire's ninth biggest holding at the end of March. Warren Buffett finally revealed his secret stock pick in a new regulatory filing, and it's insurer Chubb . The Omaha-based Berkshire has a large footprint in the insurance industry, from auto insurer crown jewel Geico to reinsurance giant General Re and a slew of home and life insurance services. The conglomerate also acquired insurance company Alleghany for $11.6 billion in 2022. Berkshire recently exited positions in Markel and Globe Life in the same industry. Mystery unveiled Berkshire has been keeping this purchase secret for two quarters straight. Berkshire was granted confidential treatment to keep the details of one or more of its stock holdings confidential. The topic of this mystery holding didn't come up at the Berkshire's annual meeting in Omaha earlier this month. Many had speculated that the secret purchase could be a bank stock as the conglomerate's cost basis for "banks, insurance, and finance" equity holdings jumped by $1.4 billion in the first quarter after an increased of $3.59 billion in the second half of last year, according to separate Berkshire filings. It's relatively rare for Berkshire to request such a treatment. The last time it kept a purchase confidential was when it bought Chevron and Verizon in 2020.

How Biden came around to debating Trump: From the Politics Desk 2024-05-15 21:10:00+00:00 - Welcome to the online version of From the Politics Desk, an evening newsletter that brings you the NBC News Politics team’s latest reporting and analysis from the campaign trail, the White House and Capitol Hill. In today’s edition, White House correspondent Mike Memoli reports on how Joe Biden came around to challenging Donald Trump to two debates. Plus, chief political analyst Chuck Todd breaks down which presidential candidate will be a bigger drag on their party this fall. Sign up to receive this newsletter in your inbox every weekday here. How Biden came around to debating Trump By Mike Memoli For weeks, former President Donald Trump and his team have been trying to goad President Joe Biden into a debate over debates. In the end, it just took a simple memo and a couple phone calls to settle the matter quickly, as the two presumptive major party presidential nominees agreed Wednesday to debates in June and September. The Biden team’s surprise volley to try to settle the matter served two of its primary objectives at this stage of the campaign: to accelerate making the 2024 race into a binary choice, and to seize a rare opportunity to set the agenda in an otherwise Trump-driven national media environment. Do you have a news tip? Let us know Wall-to-wall coverage of Trump’s hush money trial has made it all but impossible for the president’s message to break through of late. But advisers say it has forced them to focus their efforts on making a bigger impact on the rare off days in the New York proceedings. On Wednesday, with no Trump trial, the debate topic presented a ripe target guaranteed to land the president back in the headlines — and to drive the discussion. It was Howard Stern of all people who first got Biden to commit publicly to facing off with Trump again, during the president’s visit to his New York studio in late April. It kicked up the conversation internally about how to handle Trump’s repeated push to debate Biden “any time, any place.” There were even informal, back-channel conversations between the Biden and Trump campaigns that laid the groundwork for both sides agreeing to the June 27 and Sept. 10 faceoffs, according to multiple sources involved. Biden filmed a taunting video challenging Trump to debate in the last several days, according to an adviser. It was posted not just to X, but to Truth Social. Another adviser wouldn’t say whether the campaign had expected the Trump campaign to commit so quickly to its terms, but was still happy to lock in media partners and dates so soon. Biden’s campaign has long argued that one of its biggest challenges is getting less-engaged voters to recognize that 2024 is, indeed, a rematch with Trump. The former president’s legal fight has only reinforced skepticism among some voters over whether he will still be on the November ballot. But a June 27 debate will present that in stark relief well before early voting begins in some key states this fall — and well before the initial mid-September showdown that had been offered by the Commission on Presidential Debates. The debates will be a critical test for Biden at a time when many voters — including Democrats — are concerned over whether he’s up to the task of dueling with Trump, let alone serving another four years. Biden advisers have long said that the president is a “game day performer” who has always met the moment, pointing to this year’s State of the Union address. Preparing for a debate in just six weeks could be a challenge, especially as the president is set to travel to Europe twice in the weeks before. But one senior Biden adviser said that “early prep is overrated,” while another said simply: “He’s ready to go.” Peter Alexander, Monica Alba, Dasha Burns and Allan Smith contributed reporting. Is Biden or Trump the bigger drag on his party? By Chuck Todd Democrats have a Biden problem right now more than a party-brand problem, this week’s New York Times/Siena College polls of key battleground states indicate. In every state where the new polls tested Biden, there was at least one Democrat performing better. Across the board, Democrats were ahead or tied in every Senate race tested. There are other potential explanations for this, including the power of incumbency, because three of the battleground Senate races (Wisconsin, Nevada and Pennsylvania) feature sitting Democratic senators. But consider, too, how the Democratic governors are all polling better than Biden in the battleground states. Pennsylvania Gov. Josh Shapiro’s job rating was a whopping 19 points better than Biden’s in the Times poll of the state. Meanwhile, Trump is polling better than every Republican Senate candidate in the battlegrounds. To put it another way, Biden is less popular than the Democratic brand, while Trump is more popular than the Republican brand. So what’s going on here? Is it that the Democratic candidates in the battleground states are running and governing as moderates? Folks like Shapiro and Sen. Bob Casey, his fellow Pennsylvanian, have spent a lot of money over the years straddling the middle of the ideological spectrum, and those efforts have paid off. Conversely, the GOP has spent a lot of time and effort trying to rebrand Biden as a Democrat who can’t say no to the left, as opposed to a moderate, and it’s an image that’s starting to stick with some voters. Political campaigns are, as I constantly like to remind folks, binary choices. There’s rarely a perfect candidate to support, so many voters have to make picks based on the options available — though this year, voting third party or skipping the vote for president are also viable “choices.” So let’s bottom-line this: The Democratic Party has a Biden problem. This has arguably been a concern ever since Biden took the oath of office in 2021. Six months ago, the hand-wringing among Democrats who were concerned about Biden’s viability was over his age — but that was a proxy for a larger issue in his struggles: the perception of weakness. Can the Biden campaign fix this image issue? Given our short-attention-span information ecosystem, one can always assume there’s time to change perception, but it’s getting difficult. Read more from Chuck → 🗞️ Today’s top stories 📝 On the record: Do you want to know where Biden and Trump stand on the key issues at stake in the presidential election? Check out the NBC News issue tracker to see how they stack up. Do you want to know where Biden and Trump stand on the key issues at stake in the presidential election? Check out the NBC News issue tracker to see how they stack up. 🎙️ The speaker speaks: House Speaker Mike Johnson sat down for a wide-ranging interview with NBC News, where he discussed his “spontaneous” trip to visit Trump in New York and predicted there wouldn’t be any more efforts to remove him from his post. Read more → House Speaker Mike Johnson sat down for a wide-ranging interview with NBC News, where he discussed his “spontaneous” trip to visit Trump in New York and predicted there wouldn’t be any more efforts to remove him from his post. Read more → 🐶 ‘I’m really curious about the dog’: During a private fundraiser, Trump referenced the controversy surrounding South Dakota Gov. and VP contender Kristi Noem shooting her hunting dog. Read more → During a private fundraiser, Trump referenced the controversy surrounding South Dakota Gov. and VP contender Kristi Noem shooting her hunting dog. Read more → 🤫 Quiet Carson: Ben Carson remains in the mix to be Trump’s running mate, but he’s keeping his distance while others are jockeying for a spot in the limelight. Read more → Ben Carson remains in the mix to be Trump’s running mate, but he’s keeping his distance while others are jockeying for a spot in the limelight. Read more → ☀️ Long, hot summer: Chicago Mayor Brandon Johnson spoke with NBC News about how the city is preparing for the possibility of a volatile Democratic convention this summer. Read more → Chicago Mayor Brandon Johnson spoke with NBC News about how the city is preparing for the possibility of a volatile Democratic convention this summer. Read more → 🗳️ Dropping this fall: If the Wisconsin Supreme Court reverses restrictions on ballot drop boxes, Republicans say they’ll be ready to encourage their voters to use them – despite their past criticism of the method. Read more → If the Wisconsin Supreme Court reverses restrictions on ballot drop boxes, Republicans say they’ll be ready to encourage their voters to use them – despite their past criticism of the method. Read more → ⚖️ Pardon me: In an exclusive interview on MSNBC’s “The 11th Hour with Stephanie Ruhle,” Sen. Mitt Romney, R-Utah, said he thinks Biden should have pardoned Trump after the Justice Department brought indictments against the former president. Read more → That’s all from The Politics Desk for now. If you have feedback — likes or dislikes — email us at politicsnewsletter@nbcuni.com And if you’re a fan, please share with everyone and anyone. They can sign up here.

China's BYD just unleashed a hybrid pickup truck that has no rival in America — see the Shark 2024-05-15 21:09:54+00:00 - China's BYD Auto launched its all-new Shark plug-in hybrid pickup truck in Mexico on Tuesday. The BYD Shark's hybrid drive system puts out 430 horsepower and has 62 miles of all-electric range. The Shark starts at $54,000 in Mexico but is not for sale in the US. 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. Advertisement BYD introduced its new Shark plug-in hybrid pickup truck in Mexico on Tuesday. It's the company's first truck and the first product launched outside its home market, China. Mexico is growing in importance for BYD's global strategy as it aims to gain a foothold in North America — even as the company has made clear in recent months that it does not plan to enter the US market any time soon. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

Angie Harmon is suing Instacart and a former shopper who shot and killed her dog, Oliver 2024-05-15 21:05:06+00:00 - CHARLOTTE, N.C. (AP) — Actor Angie Harmon has filed a lawsuit against Instacart and one of its former shoppers who fatally shot her dog in March while delivering groceries at her North Carolina home. The lawsuit filed late last week in Mecklenburg County seeks to hold the shopper and Instacart liable for accusations of trespassing, gross negligence, emotional distress and invasion of privacy, among other allegations. It accuses Instacart of engaging in negligent hiring, supervision, retention and misrepresentation. The suit seeks monetary damages, to be determined at trial. Instacart says the shopper has since been permanently banned from its platform. Harmon is known for her work on TV shows including “Law & Order” and “Rizolli & Isles.” She told ABC News that it was “so unfathomable to think that there is somebody in your front driveway that just fired a gun.” “I think Instacart is beyond responsible for all of this. This didn’t have to happen,” Harmon said in the interview that aired Wednesday on “Good Morning America.” ABC News described the dog as a “beagle mix.” According to the complaint, Harmon ordered an Instacart groceries delivery from a Charlotte store on March 30. The Instacart app showed a shopper named Merle with a profile photo of an older woman, with whom Harmon believed she was exchanging text messages about her order, the lawsuit says. Later that day, Harmon was upstairs filling her squirrel feeders when a “tall and intimidating younger man,” not an older woman, showed up to deliver the groceries, the lawsuit says. Harmon said she heard a gunshot sound and rushed outside. She found her dog, Oliver, had been shot, and saw the delivery person putting a gun into the front of his pants, according to the suit. Her teenage daughters, who had already been outside, were “in distress,” it says. The dog died at the veterinarian’s office. The shopper told police that he shot the dog after it attacked him, the Charlotte-Mecklenburg Police Department told news outlets, adding that they did not pursue criminal charges. In an Instagram post last month about the encounter, Harmon wrote that the shopper “did not have a scratch or bite on him nor were his pants torn.” Instacart says it immediately suspended the shopper after receiving the report about the shooting, then later removed him permanently. The company says it runs comprehensive background checks on shoppers, prohibits them from carrying weapons and has anti-fraud measures that include periodically requiring them to take a photo of themselves to ensure the person shopping matches their photo on file. “Our hearts continue to be with Ms. Harmon and her family following this disturbing incident,” Instacart said in a statement. “While we cannot comment on pending litigation, we have no tolerance for violence of any kind, and the shopper account has been permanently deactivated from our platform.”

Cisco reports better-than-expected results even as revenue suffers steepest drop in 15 years 2024-05-15 21:05:00+00:00 - Chuck Robbins, chief executive officer of Cisco, participates in a Bloomberg interview at the World Economic Forum in Davos, Switzerland, on Jan. 17, 2024. Cisco reported earnings and revenue for the fiscal third quarter that topped Wall Street's estimates, even with sales dropping from a year earlier. The stock rose as much as 8% in extended trading. Here's how the company did in comparison with LSEG consensus: Earnings per share: 88 cents adjusted vs. 82 cents expected 88 cents adjusted vs. 82 cents expected Revenue: $12.7 billion vs. $12.53 billion expected Cisco's revenue declined by about 13% year over year in the quarter, which ended on April 27, according to a statement. That's the steepest slide since 2009. Net income fell 41% to $1.89 billion, or 46 cents per share, from $3.21 billion, or 78 cents per share, a year earlier. The weakening performance stems from clients setting up the equipment they received in recent quarters, according to the statement. Cisco offered similar commentary in its previous earnings report. "We currently expect customers to complete the installation of the majority of their inventory by the end of our fiscal year in July," Cisco CEO Chuck Robbins said on a conference call with analysts. He said he was happy Cisco is approaching the end of supply chain challenges it has faced for years. Cisco's public sector business was weaker in the U.S. than in other regions. "We believe this has since cleared with the subsequent signing of the most recent U.S. federal government funding," Robbins said. Networking revenue, at $6.52 billion, slipped 27%. The category, which includes data center switches, continues to represent a majority of overall revenue. During the quarter, Cisco completed its $28 billion acquisition of security software maker Splunk. The deal lowered Cisco's adjusted earnings per share by a penny but provided $413 million in additional revenue. "Upon closing the deal, we identified 5,000 existing Cisco customers who have the potential to become meaningful Splunk customers and our sales teams are already making those connections," Robbins said. Cisco will be able to reduce costs over time, finance chief Scott Herren said. Cisco bumped up its fiscal 2024 revenue guidance to a range of $53.6 billion to $53.8 billion, from $51.5 billion to $52.5 billion in February. Analysts polled by LSEG had expected $53.14 billion. The company narrowed its full-year adjusted earnings forecast. It's now $3.69 to $3.71, compared with $3.68 to $3.74 in February. The LSEG consensus was $3.67. Herren called for fiscal 2025 revenue growth in the low- to mid-single digits. Prior to Wednesday's announcement, shares were down 2% in 2024, while the S&P 500 index was up 11%. Cisco said Gary Steele, who had been Splunk's CEO, is becoming the parent company's president of go to market, effective immediately. Jeff Sharritts, Cisco's chief customer and partner officer, will leave. WATCH: Cisco CEO Chuck Robbins: $28 billion Splunk deal will be a significant financial growth driver

Changes from Visa mean Americans will carry fewer physical credit, debit cards in their wallets 2024-05-15 21:00:39+00:00 - NEW YORK (AP) — Your wallet may soon be getting thinner. Visa on Wednesday announced major changes to how credit and debit cards will operate in the U.S. in the coming months and years. The new features could mean Americans will be carrying fewer physical cards in their wallets, and will make the 16-digit credit or debit card number printed on every card increasingly irrelevant. They will be some of the biggest changes to how payments operate in the U.S. since the U.S. rolled out chip-embedded cards several years ago. They also come as Americans have many more options to pay for purchases beyond “credit or debit,” including buy now, pay later companies, peer-to-peer payment options, paying directly with a bank, or digital payment systems like Apple Pay. “I think (with these features) we’re getting past the point where consumers may never need to manually enter an account number ever again,” said Mark Nelsen, Visa’s global head of consumer payments, in an interview. The biggest change coming for Americans will be the ability for banks to issue one physical payment card that will be connected to multiple bank accounts. That means no more carrying, for example, a Bank of America or Chase debit card as well as their respective credit cards in a physical wallet. Americans will be able to set criteria with their bank — such as having all purchases below $100 or with a certain merchant applied to the debit card, while other purchases go on the credit card. The feature, already being used in Asia, will be available this summer. Buy now, pay later company Affirm is the first of Visa’s customers to roll out the feature in the U.S. Some of Visa’s new features are in response to online-payments fraud, which continues to increase as more countries adopt digital payments. The San Francisco-based company estimates that payment fraud happens roughly seven times more often online than it does in person, and there are now billions of stolen credit and debit card numbers available to criminals. Other new elements are also in response to features that non-payments companies have rolled out in recent years. The Apple Card, which uses Mastercard as its payment network, does not come with a printed 16-digit account number and Apple Card users can request a fresh credit card number at any time without having to dispose of the physical card. Visa executives see a future where banks will issue cards where the 16-digit account number, if the new cards come with them, is largely symbolic. Among the other updates unveiled by Visa are changes to tap-to-pay features. Americans will be able to tap their credit or debit cards to their smartphones to add the card to mobile wallets, instead of using a smartphone’s camera to scan in a card’s information, or tap the card to their smartphones to approve a transaction online. Visa will also start implementing biometrics to approve transactions, similar to how Apple devices use a fingerprint or face scan to approve transactions. The features will take time to filter down to the banks, which will decide when or what to implement for their customers. But since the banks and credit card companies are Visa’s customers, and issue cards with the Visa label, these are features that the financial institutions have been asking for.

How Trump could be convicted of misdemeanors instead of felonies 2024-05-15 20:52:52+00:00 - As Donald Trump's historic criminal trial nears an end, everyone is wondering if jurors will convict him of the felony charges. But Trump’s lawyers could try a long-shot move to give them another option: convict him of misdemeanors instead. Here's how it would work and why the defense would — or wouldn’t — try it. First, a refresher on how the misdemeanor case becomes a felony. The misdemeanor charge of falsifying business records in the second degree says that a person is guilty when, with intent to defraud, he “makes or causes a false entry in the business records of an enterprise.” The first-degree felony charge says that the state must prove that the intent to defraud “includes an intent to commit another crime or to aid or conceal the commission thereof.” That raises the question of which other crime prosecutors would cite; one that they’ve pointed to is an election law that bars conspiring “to promote or prevent the election of any person to a public office by unlawful means.” That, in turn, raises the question of what the “unlawful means” are, which could include campaign finance violations like the ones Michael Cohen pleaded guilty to over the hush money scheme (though the state should emphasize the precise theory in its summation). So, there are layers to felony charges that don’t exist with misdemeanors. The state has sought to simplify the felony narrative to an election conspiracy covered up with false records, and it may succeed in doing so. The defense, meanwhile, wants to at least complicate that narrative in the hopes of a hung jury. Cohen is poised to be the state's final witness and is set to resume his cross-examination Thursday. It’s unclear how much of a case the defense will put on, though it has no burden, which falls on the prosecution to prove Trump's guilt beyond a reasonable doubt. If his lawyers feel their client is staring down near-certain felony convictions, they might consider pitching the jury on misdemeanors. But if his lawyers feel their client is staring down near-certain felony convictions, then they might consider pitching the jury on misdemeanors as an alternative. New York law says that judges can submit lesser-included charges to the jury “if there is a reasonable view of the evidence which would support a finding that the defendant committed such lesser offense but did not commit the greater.” The law further says that, in such situations, if either side asks for a lesser-included option, then the court must give it. Even if they had wanted to, the shorter statute of limitations for misdemeanors barred prosecutors from bringing such charges initially, so the state shouldn't make the lesser-included request (again, even if it wants to or could legally do so). But the defense can waive the statute of limitations. Of course, it could be a felony-or-nothing proposition for both sides. While it might make strategic sense in a normal case, it’s difficult to see Trump letting his lawyers concede any guilt, even “only” for misdemeanors. And while incarceration is less likely for misdemeanors than for felonies, it’s not mandatory for these lowest-level felonies and it may even be unlikely if he's convicted of them. Ultimately, then, it’s at least partly a political calculation by the presumptive GOP nominee of how it would play, as he seeks the White House again in the hopes of avoiding more serious potential prison time in his federal cases. If he wins in November, those cases are good as gone. (The Georgia state case, which he wouldn’t be able to dismiss or pardon as president, is in limbo on pretrial appeal. Trump has pleaded not guilty to all four indictments.) But on the legal side of it, it’s an option that a normal lawyer would at least broach with a normal client. How that dynamic translates to this abnormal situation remains to be seen. Subscribe to the Deadline: Legal Newsletter for weekly updates on the top legal stories, including news from the Supreme Court, the Donald Trump cases and more.

DC just got serious about taking on China in the AI arms race 2024-05-15 20:48:10+00:00 - A bipartisan Senate group is calling for $32 billion in annual federal AI spending. The group wants to ensure the US stays ahead of China — which is also spending big on AI. Group leader Sen. Chuck Schumer said the money will "cement America's dominance in AI." 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. Advertisement A bipartisan group of US Senators wants to spend billions of dollars on a game plan to dominate artificial intelligence. Senate Majority Leader Chuck Schumer and three other senators who assembled an AI Working Group released their initial report on Wednesday. It's a policy road map that calls for $32 billion in annual federal spending on AI for nonmilitary purposes. That money, they said, would go toward research and development, reducing AI's potential harm, managing its potential impact on elections and jobs, and ensuring AI systems adhere to existing laws. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

Facing a lawsuit alleging rape, MAGA podcaster DJ Akademiks threatens to expose others 2024-05-15 20:41:49+00:00 - Podcaster and streamer DJ Akademiks is facing allegations of rape and defamation, according to a lawsuit filed on Monday. Akademiks, whose real name is Livingston Allen, has a podcast and video content that focuses on the music industry, and hip-hop news in particular. Allen has gained a right-wing following in recent years, seemingly due to his support for Donald Trump and his conspiratorial attacks on Black women in the public eye, like Fulton County District Attorney Fani Willis and rapper Megan Thee Stallion. He’s managed to parlay his notoriety into massive online engagement that nets him interviews with well-known figures like Donald Trump Jr. The new allegations against Allen, made by writer Fauziya Abashe, are laid out in a civil lawsuit filed in New Jersey, where Allen lives. Abashe claims in her lawsuit that things went awry after she was invited to Allen’s house one July night in 2022. Abashe says Allen invited her over on July 16, but that she was greeted, drugged and raped on Allen’s pool deck by two men she didn’t expect to be there. Abashe claims she was given a drug that caused her to lose consciousness, and that she awoke early the next morning as Allen was “brutally raping her.” Her suit claims the alleged rape by Allen’s friends was captured on surveillance footage and that Allen played the footage back for her. Abashe says in the suit that she recorded audio of Allen admitting to sexual intercourse with her and obtained a rape kit that contained traces of his spermicide. Abashe’s lawsuit states that she went to police with her claims but “chose silence” until Allen spoke online about the incident. Her defamation allegation stems from Allen’s claim in a December 2023 video that he hadn’t had sex with Abashe. Instead, he said “she was getting trained by my two mens on my pool deck.” The rape allegations are part of a civil case, meaning the burden of proof is significantly lower if her suit goes to trial than if Allen were charged with a crime. Allen issued a denial on his video stream Tuesday, calling the allegations a “shakedown” and blaming them on his race, his popularity and alleged “ramifications” of his role in hyping up the beef between rappers Drake and Kendrick Lamar. Allen also gave this statement: “My only comment should really be [that] whatever this is will be handled in court. Just know, according to the law and according to the police and according to all sanctioning governing authorities, Akademiks is an innocent man who has not ever been charged with anything of the sort that has to do with any deviancy or anything like that, has never been charged, will never be charged. That’s a fact.” The above was not Allen’s only statement on the matter. He ended by offering a pretty grim threat to other folks in his industry: “Let me tell y’all this about everybody in the industry — I’mma tell y'all this right now: if Ak ever goes down, y’all [are] all going down with me. ‘Cuz I hold no secrets from anybody.”

AOC says Bernie Sanders' 2016 presidential campaign 'broke my brain' 2024-05-15 20:41:18+00:00 - AOC and Bernie Sanders are two of the most influential figures on the American left. It wasn't always that way. When Sanders ran for president in 2016, AOC was bartending. In a new podcast, she described how the Vermont senator's first presidential bid radicalized her. 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. Advertisement When Rep. Alexandria Ocasio-Cortez first heard Sen. Bernie Sanders's presidential campaign message in 2016, she was radicalized. "It was the first time that I heard an elected leader say everybody deserves healthcare in this country by the fact that they are born a human being," the New York Democratic said on an episode of the Vermont senator's podcast released on Wednesday. "It broke my brain a little bit." This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

Victoria’s Secret Fashion Show will return in the fall after four-year hiatus 2024-05-15 20:35:00+00:00 - The "angels" are returning to the runway. Victoria's Secret said Wednesday that its once-celebrated fashion show will return after the retailer canceled it in 2019 due to poor ratings and a slew of controversies. The lingerie brand, which was founded in 1977, was the subject of a 2020 New York Times investigation that detailed an alleged culture of misogyny at the company. A spokesperson for L Brands, the former parent company of Victoria’s Secret, told the publication at the time that it's “'intensely focused' on corporate governance, workplace and compliance practices and that it had 'made significant strides.'" Victoria's Secret has also faced criticism for its lack of inclusivity. In November 2018, Ed Razek, then-chief marketing officer for L Brands, came under fire for saying that he did not think the brand should include “transsexuals” in its runway show. The company split from L Brands in 2021 and has since made efforts to revamp its approach and become relevant to women again. It overhauled its image and incorporated more diverse, body-positive models in its campaigns, including the launch of a revamped, partially revived filmed version of a fashion show for Prime Video in 2023. “We’ve read the comments and heard you,” the company wrote in an Instagram post on Wednesday. “The Victoria’s Secret Fashion Show is BACK and will reflect who we are today, plus everything you know and love—the glamour, runway, wings, musical entertainment, and more! Stay tuned…it only gets more iconic from here.” The announcement comes as the body positivity movement — a belief system of self-acceptance regardless of body type — is at a crossroads. The movement began to take its current form on social media around 2012, when it first began popping up on Instagram, according to research from the National Library of Medicine. It continued to grow online, with the pandemic helping give rise to more creators who post about everything from plus-size fashion tips to body confidence advice. But amid a boom in demand for a new crop of semaglutide-based weight loss drugs, some creators have said they feel body positivity has once again taken a back seat to attitudes they consider to be part of "diet culture," which refers to a set of ideas that hold weight loss and thinness as ideals and falsely assumes they are necessary for good health. The return of diet culture has manifested both online and offline, as fashion trends like “heroin chic” resurge and brands like Old Navy roll back their inclusive sizing. Influencer Remi Bader, who has been vocal about size inclusivity in fashion, on Tuesday posted a video on TikTok reflecting on what she described as a "clear shift" in the past three years. "Inclusivity at that time was very trendy," she said. "And that's when brands were like 'shoot, we need to hop on that bandwagon right now and not be the last ones that are going to be called out for not being inclusive...'" Now, Bader, who in 2022 was named a VS brand ambassador, said she thinks brands are "backing away from some of these initiatives." Bader did not name any brands specifically in the video. She did not immediately respond to a request for comment. Some influencers who tout body acceptance at any size — including Ella Halikas, Kristina Zias and Raeann Langas — were among those celebrating the return of Victoria’s Secret’s fashion show in comments on the Instagram post. Many influencers have partnered with the brand in recent years. In August 2023, Victoria’s Secret shared a post on its website under its brand values, entitled “We Represent All Women.” “We have moved from promoting an exclusionary view of what’s sexy, to celebrating all women throughout every phase of their lives,” the brand wrote. “We will continue this work and look to be an industry leader in retail innovation, fashion, sustainability, and continuous ingenuity—getting to the heart of what our diverse customer base wants.” Still, the company has not performed well since revamping its image. Since going public in 2021, Victoria’s Secret stock has lost nearly half its value, falling from about $42 to $21 per share. In response to a request for comment, a spokesperson for Victoria's Secret echoed the brand's Instagram announcement, and said that the 2024 fashion show will "deliver precisely what our customers have been asking for." The company "is focused on celebrating and supporting all women, and that won’t change anytime soon," the spokesperson added. The date of the show has not yet been announced.

Google has an idea to prevent phone scams, but it'll mean allowing its AI to listen in on your calls 2024-05-15 20:34:42+00:00 - Google is testing its Gemini AI to detect and alert users of potential scams during phone calls. The AI alerts users of scam patterns like urgent payment demands. Google promised to keep data from the phone calls private. 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. Advertisement Google is playing around with AI tech that would listen to your calls and warn you of potential scams. Google announced on X on Tuesday that it's testing a new Gemini AI feature that "provides real-time alerts during a call if it detects conversation patterns commonly associated with scams." "This protection all happens on-device so your conversation stays private to you," the company said.

Port of New Orleans’ chief resigning amid praise for moves to advance new cargo terminal project 2024-05-15 20:31:05+00:00 - NEW ORLEANS (AP) — The Port of New Orleans’ president and chief executive officer, who won praise for advancing plans for a new international cargo terminal project, is resigning to pursue an opportunity in the private sector. Brandy Christian, who has served in the leadership post since 2017, will step down in mid-June, the port said Tuesday in a news release praising her for “exemplary leadership.” Her next steps were not immediately disclosed. “Under Christian’s guidance, Port NOLA has navigated through profound challenges and achieved remarkable successes. ... Through her vision and leadership, Christian has positioned Port NOLA to regain its place as the premier destination within the global supply chain as we embark on a transformational economic development project in the Louisiana International Terminal,” said Walter Leger Jr., chairman of the port’s Board of Commissioners. Christian was seen as instrumental in moving forward with a state-of-the-art terminal project, also known as LIT, which is likely to start construction next year in Violet. Officials said they hope the project, once completed, would stem the bleeding of container cargo volume to competitors including the nearby port in Mobile, Alabama. Christian came to New Orleans from the Port of San Diego, where she had started in the ports sector after three years as a management consultant following post-graduate work on public sector management at the University of Southern California. She has been one of only about a dozen women in charge of major U.S. ports since she took the top job at Port NOLA. Chief Financial Officer Ronald Wendel Jr. will serve as the port’s interim leader. The port didn’t immediately say how it plans to conduct a formal search to replace Christian. Christian led the acquisition of the New Orleans Public Belt Railroad, which gave the port control of the city’s switching rail infrastructure and direct access to all six Class I national rail operators, the Times-Picayune/The New Orleans Advocate reported.

It will be even more expensive to borrow money for college this year—3 tips to cut down costs 2024-05-15 20:27:00+00:00 - Students and families planning to take out federal loans to pay for college this fall will see the highest interest rates in over a decade. The interest rate for direct federal undergraduate student loans disbursed after July 1, 2024 will be 6.53%, the Department of Education announced Tuesday. That's up from the current 5.5% interest rate, and the highest rates have been since 2008, according to ED data. The undergraduate rate hasn't hit 6% since 2009, and from 2006 through June 2008 the rate was 6.8%. New graduate student loans will have an 8.08% interest rate and parent PLUS loans will come with a 9.09% rate. With millions of Americans taking years to pay down their student debt, it's understandable that incoming college students may want to avoid borrowing for school. But with the cost of a college education continuing to rise, it can be difficult to get through those four years without taking on some debt. Here are three ways to lower your overall college costs and reduce the amount you may need to borrow. 1. Apply to scholarships The college admissions process can be grueling and time consuming, but you could be missing out on free money if you don't consider applying to scholarships as well as schools. There are many different kinds of scholarships available through state and local governments, as well as private and nonprofit organizations. They won't all be full-ride packages, and you might think applying for a $500 grant may not be worth your time. But every dollar counts, and going through the process could help you in ways you may not expect in the future. "The more scholarships I applied to, the better applications I was able to submit and ultimately have more success down the line," Gabriella Carter, a Princeton University grad who earned $2 million in scholarships previously told CNBC Make It. 2. Try an alternative path Many students may want the traditional four-year on-campus college experience, but that means four years of tuition, housing, food and other costs. If your ultimate goal is to save money while still obtaining a college degree, you might have to think outside the box. Starting your college education at a community college or trade school is one way you may be able to cut down on costs while racking up course credits. You could also consider taking additional courses to expedite your education and reduce your expenses that way. Ethan Nguonly did just that when his parents told him that they would only pay for two years of his schooling. Now 22, Nguonly hustled to get all his course credits done to earn his bachelor's degree from the University of California — Berkeley in just two years. He has some regrets about missing out on the traditional college experience, but he told CNBC Make It last year that the experience was worth it in the end. "I was able to put my financial goals [first] and really get started on a journey towards financial independence," Nguonly said. "I would make that sacrifice again." 3. Look for discounts