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GameStop stock soars over 70% as 'Roaring Kitty' revival reignites meme-stock bonanza 2024-05-14 04:07:00+00:00 - GameStop stock (GME) soared as much as 110% Monday before paring gains, and it was halted for volatility numerous times after "Roaring Kitty," the person who is seen as the kick-starter of the meme stock frenzy during the pandemic, posted online for the first time since 2021. The stock crossed above $30 per share on Monday to close up 75%. Shares had been on an upward trend, rising about 60% over the past two weeks. "Roaring Kitty," who was identified that year as Keith Gill, became a prominent figure on the WallStreetBets subreddit and YouTube for his bullish stance on GameStop (GME). Sunday's post on X, formerly known as Twitter, included a meme of a video gamer leaning forward, appearing to take the game seriously. The post received more than 81,000 likes and 9,000 comments. The last time Roaring Kitty posted on X was in June 2021. He was known for posting commentary about why GameStop would go higher and eventually testified before Congress about the massive January 2021 short squeeze spurred by an army of retail traders. Short interest on GameStop sits at around 24% of the float, according to S3 Partners data. "Including today's losses, GME shorts are now down -$1.34 billion in May month-to-date losses, and now down -$952 million for the year," Ihor Dusaniwsky, managing director of S3 Partners, told Yahoo Finance on Monday. Monday's short squeeze follows a recent rally in meme-related stocks. Theater chain operator AMC (AMC) gained as much as 50% during the session, while Trump Media & Technology (DJT) gained 8%. "Short sellers may be in for a bumpy and bloody ride in these stocks," said Dusaniwsky. As Yahoo Finance’s Jared Blikre recently noted, the recent meme stock surge doesn't appear to be the ominous signal it has been in the past, but rather a healthy risk appetite for investments. A screen displays the logo and trading information for GameStop on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 29, 2022. REUTERS/Brendan McDermid (REUTERS / Reuters) Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre. Click here for the latest stock market news and in-depth analysis, including events that move stocks Read the latest financial and business news from Yahoo Finance

Warren Buffett Is Dumping Apple Stock 2024-05-14 03:09:00+00:00 - Fool.com contributor Parkev Tatevosian explains why investors should not follow the actions of Warren Buffett and Berkshire Hathaway in selling Apple (NASDAQ: AAPL) stock. *Stock prices used were the afternoon prices of May 11, 2024. The video was published on May 13, 2024. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has nearly tripled the market.* They just revealed what they believe are the 10 best stocks for investors to buy right now… See the 10 stocks *Stock Advisor returns as of May 13, 2024 Parkev Tatevosian, CFA has positions in Apple. The Motley Fool has positions in and recommends Apple and Berkshire Hathaway. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool. Warren Buffett Is Dumping Apple Stock was originally published by The Motley Fool

AMD Failed To Meet Lofty Expectations 2024-05-14 02:09:00+00:00 - AMD Failed To Meet Lofty Expectations At the end of April, Advanced Micro Devices Inc (NASDAQ: AMD) failed to impress, unlike Nvidia Corporation (NASDAQ: NVDA) that has been crushing investor expectations on the back of soaring AI chip sales for quite a while. It’s no secret that AMD trails the undoubtable leader Nvidia that holds as much as 80% of the thriving market for AI server semiconductors. First Quarter Highlights For the March quarter, AMD reported revenue rose 2% YoY to $5.47 billion that slightly surpassed LSEG’s estimate of $5.46 billion. Unlike last year’s comparable quarter when it made a net loss of $139 million, or 9 cents per share, AMD reported a net income of $123 million, or 7 cents per share. Adjusted earnings amounted to 62 cents per share, slightly surpassing 61 cents a share analysts expected. Data center revenue jumped 80% to $2.3 billion thanks to AMD's MI300 series of AI processors that challenge Nvidia and its graphics processing units. CEO Lisa Su revealed that AMD’s MI300X is being used by Microsoft Corporation (NASDAQ: MSFT), Meta Platforms (NASDAQ: META), and Oracle Corporation (NYSE: ORCL). Since the launch which took place during 2023’s fourth quarter, AMD sold over $1 billion worth of chips. But it was not enough to offset weakness in the traditional server market. Moreover, AMD’s results were also hurt by gaming revenue that tanked as much as 48% to $922 million. AMD already guided significant double-digit percentage declines in this segment due to revenue from the chips it designs for gaming consoles such as Xbox from Microsoft Corporation and PlayStation 5 from Sony Group Corporation (NYSE: SONY) already hitting their peak. This year marks the fifth year since the most recent generation of gaming consoles has been released and AMD's videogame console revenue peaks after roughly four years.Moreover, a report from research firm Newzoo that was published in April revealed that gamers are clocking in less hours. Newzoo expects personal computing and console gaming revenue growth to continue lagging pre-pandemic levels through 2026. Year to date, industry giants like Sony and Electronic Arts have laid off hundreds of employees. Sony Group is scheduled to report its fiscal fourth quarter earnings on Tuesday. All eyes will be on the profitability of the gaming division as PlayStation 5 promotions ate into profits during the third quarter. When it reported its third fiscal quarter results, Sony lowered projections of PlayStation 5 sales and gaming revenue for the rest of the fiscal 2023. Story continues Revenue from the embedded segment that consists of networking chips also plummeted 46% to $846 million, with demand for the segment already expected to remain soft throughout the first half of the year. Revenue was additionally hit from ongoing inventory corrections from this segment as clients clear out a build-up of chips. A Guidance That Failed To Impress For the full year, AMD expects AI chip sales of about $4 billion, raising its prior estimate by $500 million. As for the second quarter, AMD guided revenue of about $5.70 billion, plus or minus $300 million which is in line with LSEG’s average estimate. On an adjusted basis, AMD guided for second quarter’s gross margin of about 53%, hardly beating the estimate of 52.9%. In simple words, investors were expecting a stronger demand pipeline for AMD’s AI-related products and were disappointed were AMD being slower than Nvidia. DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice. This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy. "ACTIVE INVESTORS' SECRET WEAPON" Supercharge Your Stock Market Game with the #1 "news & everything else" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now! Get the latest stock analysis from Benzinga? This article AMD Failed To Meet Lofty Expectations originally appeared on Benzinga.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

How Much Cash Can A $600,000 Annuity Pay You Monthly? 2024-05-14 02:00:00+00:00 - How Much Cash Can A $600,000 Annuity Pay You Monthly? Investing without risk often seems like a financial fantasy. Yet, an annuity promises just that — turning a lump sum into a steady income stream, typically for retirement. An annuity is essentially a financial product sold by insurance companies that guarantees a fixed or variable payment to the purchaser at regular intervals. It’s a favored option for those looking to stabilize their financial future post-retirement. Don't Miss: Are you rich? Here’s what Americans think you need to be considered wealthy. Can you guess how many Americans successfully retire with $1,000,000 saved? The percentage may shock you. For those considering an annuity, understanding how much it pays out monthly is crucial. With a $600,000 annuity investment, the returns can vary significantly depending on several factors including the type of annuity, the age at which you start receiving payments, and your gender. Types of Annuities and Their Impact on Payments Annuities come in various forms, each affecting payout differently: Immediate Annuities: These start paying out soon after the initial investment. For instance, investing $600,000 in an immediate annuity could yield different outcomes depending on when payments begin. As of May 2024, starting payments at age 60 could result in an annual income of $43,200, which breaks down to approximately $3,600 per month. Starting at age 65 could increase this to $47,580 annually, or about $3,965 per month. By delaying until age 70, the payout rises to $51,300 per year or around $4,275 monthly. Deferred Annuities: These involve a waiting period before payments start, allowing the investment to grow. The longer you wait, the higher the potential monthly payments, as the money has more time to accumulate interest. Gender's Role in Annuity Payments Interestingly, gender can also influence annuity payouts. Historically, since women tend to live longer than men, they might receive slightly lower monthly payments over a longer duration, assuming the same age and investment amount. This is because the insurer's risk assessment and actuarial calculations predict a longer payment period. Trending: 82% of Americans aren’t using this government secured 5% passive income stream, are you one of them? What Happens If You Die Early? A common concern with annuities is the scenario of dying earlier than expected. Say a purchaser starts receiving annuity payments at 65 but passes away at 69. Depending on the type of annuity chosen, there might be different implications: Life Annuity: No further payments would be made and the insurer keeps the remaining funds. Story continues Annuity with a Guarantee Period: If the annuity was set with a guaranteed period (e.g., 10 years), and the purchaser dies four years in, the payments would continue to the designated beneficiary until the end of the 10 years. Fees Associated with Annuities Annuities often come with various fees that can impact your overall returns. These fees can vary depending on the insurance company and the specific annuity product. Therefore, you'll want to read the fine print and ask questions before purchasing an annuity. Below are some common fees associated with annuities: Surrender Charges: These are fees imposed if you withdraw money from your annuity before a specified surrender period, which typically lasts several years. The surrender charge usually decreases over time until it disappears. Mortality and Expense Risk Charges (M&E): These charges compensate the insurance company for the risk they take by guaranteeing your lifetime income. M&E charges typically range from 0.50% to 2% of your contract value. Trending: Can living off interest from a $1 million investment support my retirement dreams? Administrative Fees: These cover the costs of maintaining your annuity account, such as record-keeping and customer service. Administrative fees are often charged annually as a flat fee or a percentage of your account value. Underlying Fund Expenses: If your annuity invests in mutual funds, you will also be subject to the underlying fund expenses, which cover the costs of managing the investments. These fees can vary widely depending on the specific funds. Rider Fees: Some annuities offer optional riders that provide additional benefits, such as guaranteed minimum income or death benefits. These riders often come with additional fees. Exploring Annuity Scenarios If you’re considering an annuity as part of your retirement plan, it’s worth having a thorough discussion with a financial advisor. Together, you can explore different scenarios and payout options to see if an annuity truly aligns with your financial goals and lifestyle. Remember, annuities aren’t a one-size-fits-all solution. In some cases, other investment strategies or retirement products might be a better fit for your individual needs. By carefully considering all your options and working with a financial advisor, you can ensure that your retirement income plan is tailored to your specific needs and provides you with the financial security you deserve. Read Next: The average American couple has saved this much money for retirement — How do you compare ? If the United States had access to today’s high-yield savings accounts rates in 2015, it wouldn’t need to save another penny. "ACTIVE INVESTORS' SECRET WEAPON" Supercharge Your Stock Market Game with the #1 "news & everything else" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now! Get the latest stock analysis from Benzinga? This article How Much Cash Can A $600,000 Annuity Pay You Monthly? originally appeared on Benzinga.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Justice Department accuses Andrew Wiederhorn, former CEO of Fatburger and Johnny Rockets, of $47 million scheme to avoid paying taxes 2024-05-14 00:48:00+00:00 - The former CEO of Fat Brands, the holding company for burger chains Fatburger and Johnny Rockets, has been indicted for an alleged multi-year scheme to avoid paying taxes. The U.S. Department of Justice accuses Andrew Wiederhorn of taking $47 million in shareholder loans, which were never repaid and then reported as losses to avoid paying millions of dollars in taxes. In a second indictment, he was also accused of being a felon in possession of a firearm. “Beginning no later than 2010 and continuing through early 2021, Wiederhorn allegedly caused employees of FAT and FOG to compensate him by distributing to him approximately $47 million for his personal use and benefit,” Justice Department officials alleged. “Wiederhorn… and others miscategorized these distributions as ‘shareholder loans’ and failed to disclose as reportable compensation to the IRS, SEC and the broader investing public, the indictment alleges.” Wiederhorn is still the controlling shareholder in Fat Brands. “This defendant, the former CEO of a publicly traded company, is alleged to have engaged in a long-running scheme to defraud investors and the United States Treasury to the tune of millions of dollars,” said United States Attorney Martin Estrada in a statement. “Instead of looking out for shareholders, the defendant allegedly treated the company as his personal slush fund, in violation of federal law.” Also indicted were Rebecca D. Hershinger, the company’s former chief financial officer, and its accountant. Fat Brands was also named in the indictments. The company, in a statement, called the charges “unprecedented, unwarranted, unsubstantiated, and unjust,” adding “they are based on conduct that ended over three years ago and ignore the Company’s cooperation with the investigation.” Wiederhorn is charged with one count of endeavoring to obstruct the administration of the Internal Revenue Code, six counts of tax evasion and one count of false statements and omission of material facts in statements to accountants in connection with official’s audits and reviews. Wiederhorn and Hershinger were also charged with four counts of wire fraud, two counts of false statements and omission of material facts, and one count of certifying faulty financial reports. This story was originally featured on Fortune.com

GameStop stock surges over 70%—but investors should still be wary of 'meme stocks' 2024-05-13 22:31:00+00:00 - On Monday, Keith Gill, known online as "Roaring Kitty," posted a picture on X — marking the first time he's engaged with the social media platform in about three years. For most people, a return to social media wouldn't be remarkable. But Gill isn't most people. Between 2020 and 2021, he became one of the key internet personas who encouraged an army of day traders to heavily invest in GameStop, kicking off the "meme stock" frenzy. And in 2024, it appears that meme stocks are rallying again. On Monday, GameStop's share price soared by around 70% throughout the day and trading was paused multiple times due to volatility. On top of that, short sellers lost $1 billion due to GameStop's sudden price rise, according to data from S3 Partner. Short sellers are individual investors or hedge funds who believe a certain stock's price will decline. They borrow shares of that stock, sell them, then buy them back when the share price falls and earn a profit from the difference. However, a lot can go wrong with this strategy. If the stock price doesn't fall the way the short sellers anticipated, they can lose money, as happened with GameStop. Investors should also be wary of chasing meme stocks with the expectation of earning a profit. Here's why.

"Roaring Kitty" trader returns, causing GameStop shares to jump more than 70% 2024-05-13 22:18:00+00:00 - GameStop shares jumped more than 72% on Monday after trader Keith Gill, known online as "Roaring Kitty," resurfaced four years after he led an investment frenzy involving the video game retailer. Gill is a former financial analyst at MassMutual who in late 2020 encouraged amateur retail investors to buy GameStop shares during the meme stock craze. He did this by posting on Reddit discussion boards and creating videos on YouTube about the strategy, gaining a large following in the process. But in 2021, Gill revealed that he had lost $13 million in one day from his investments in GameStop. Gill was also slapped with a lawsuit in 2021, accusing him of profiting from "deceitful and manipulative conduct" in promoting the GameStop shares. After appearing before Congress to explain the meme stock craze, Gill's social media presence dwindled to nonexistence. He resurfaced on X, Sunday night, with an image of a sketched man leaning forward in a chair, marking the end of a roughly three-year hiatus. He followed that post with several others featuring various comeback-themed videos featuring movie clips and charged music. GameStop did not immediately respond to a request for comment from CBS MoneyWatch Monday. GameStop was one of four struggling companies, including AMC, Bed Bath & Beyond and Blackberry, that retail investors on Reddit financially adopted during the pandemic, in a dual effort to keep the lights on at those companies as well as to put a "short squeeze" on hedge funds that bet against their long-term success. Hedge funds did indeed suffer during GameStop's meme success. Citron Research, Melvin Capital and other funds lost an estimated $5 billion, the Associated Press reported in 2021, citing data from analytics firm S3 Partners. The firm told CBS MoneyWatch that hedge funds lost more than $1 billion from shorting GameStop on Monday. GameStop had experienced declining sales amid an industrywide pivot from game cartridges to video game streaming and digital downloads, but with the help from meme stock investors, last March the company turned its first profit in two years. Before then, the company had posted seven straight quarterly losses. This January, GameStop reported its first annual profit since 2018. Roaring Kitty's post helped bump GameStop's share price to $28.25 on Monday. GameStop's all-time high stock price is $120.75 in January 2021. Shares of AMC and Bed Bath also jumped slightly on Monday. "Meme stock frenzy buying may be back with AMC up over 78% and DJT up over 1%," Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners said. "Short sellers may be in for a bumpy and bloody ride in these stocks." Last September, GameStop appointed Chewy founder Ryan Cohen as its new CEO. In its most recent quarterly earnings from March, GameStop said it eliminated an unspecified number of jobs to help reduce costs. The Texas-based company posted $1.79 billion in revenue compared to $2.23 billion a year prior.

Windsor Amplifies Support for Becca's Closet with 5,500 Dress Donations 2024-05-13 22:15:00+00:00 - Loading... Loading... *Photos courtesy of Becca's Closet and fully licensed for no charge media use* SANTA FE SPRINGS, Calif., May 13, 2024 (GLOBE NEWSWIRE) -- Windsor Fashions LLC, the shopping destination for every occasion, proudly announces a significant milestone regarding its long-standing partnership with non-profit organization, Becca's Closet . The brand generously donated 5,500 dresses to the cause this year, marking a substantial increase from previous years. This latest initiative further bolsters Windsor's commitment to empowering students who may face financial barriers in acquiring their own formal wear. Becca's Closet has been a steadfast advocate for high school students for over two decades, offering support to those in need of attire for special occasions, and Windsor's continued dedication to this partnership underscores the crucial role of community alliances in providing opportunities for underserved youth. Since the inception of their partnership in 2022, Windsor has donated an impressive total of 9,000 dresses. "We have worked incredibly closely with Becca's Closet over the last few years to help bridge the gap in our communities, and ensure everyone gets to not only attend their prom, but show up in style," said Catherine Seaton, VP of Marketing at Windsor. "We believe that fashion should be accessible for all, and we couldn't be more proud to amplify our partnership with Becca's Closet with this latest donation." With an extensive array of over 900 dress options available in the Windsor 2024 Prom Shop, Windsor emerges as the premier destination for young people preparing for one of life's most memorable occasions. Featuring over 260 dresses priced under $50 and more than 570 options between $50 and $100, Windsor's Prom Shop ensures that fashion is accessible to all, embodying inclusivity and style. Windsor's 2024 Prom Dress collection is available in-store and online at WindsorStore.com . ABOUT WINDSOR FASHIONS LLC: Windsor is your one-stop shop for women's apparel and fashions to look and feel confident every day or at your next event, life milestone, or special occasion. This fashion destination never misses out on carrying the season's latest dress styles and women's clothing in the hottest trends like corset designs and cut-out details. Show off your unique style with Windsor's assortment of casual dresses in flattering details like open back to backless and strapless to off-the-shoulder sleeves and formal dresses in romantic chiffons, silky satins, and lively colors from blue, white, red, pink, and green. Every girl wants a glam look for Prom 2024, and Windsor carries head-to-toe formal and semi-formal looks, ranging from dresses and heels to jewelry sets, clutches, and hair accessories for picture-perfect style. The dedicated wedding shop covers each cherished event, from bachelorette outfits to bridesmaid dresses, if you're even looking to impress in wedding guest attire for the ceremony and beyond. Discover elegant gowns for formal parties, and unique birthday outfits when it's time to celebrate! Also, encounter the latest trends in clothing essentials like high-waist pants, midi skirts, and all your favorite jeans and denim styles. Keep your look fresh with versatile jumpsuits and rompers, chic heels, trendy sandals, and cute dusters guaranteed to get you noticed. Enjoy stylish finds from an updated assortment of women's workwear including blazers, skirts, and blouses to casual work-from-home outfits including joggers, women's tops, and bodysuits. Always stylish, Windsor has your hottest head-to-toe looks. Visit us in-store or online at WindsorStore.com. ABOUT BECCA'S CLOSET: Becca's Closet is a national, nonprofit organization that donates formal dresses to high school girls who cannot afford to purchase them for high school homecomings, military balls, and proms. Becca's Closet also funds prom tickets and awards post-secondary scholarships to deserving high school seniors who have demonstrated exemplary service to their communities. Becca's Closet was created to honor the work of Rebecca "Becca" Kirtman who passed away in an automobile accident in August 2003. In the spring of her freshman year in high school, Becca single-handedly collected and distributed over 250 prom dresses to needy girls in South Florida so that they could attend their high school proms. For more information, high-resolution images, or to schedule an interview, please contact: Reade Norman Account Director, CLD PR 347.334.4540 Mobile 213.765.0462 Office Reade@CLDstylehouse.com www.CLDPR.com Instagram: @CLDStyle Twitter: @CLDStyle Facebook: /CLDStyle 1206 Maple Ave. Suite 1050 - Bendix Building Los Angeles, CA 90015 A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/216a9466-f64a-4955-9146-1d1fc164ff52

Pedrosa, an investor relations IR company included in OTC Markets' Premium Provider Directory, expands its presence in Australia 2024-05-13 22:09:00+00:00 - Loading... Loading... MELBOURNE, Australia, May 13, 2024 (GLOBE NEWSWIRE) -- Pedrosa, headquartered in London and a leader in investor relations and financial communication consultancy, announces its expansion into the Australian market. A member of OTC Markets' Premium Provider Directory, Pedrosa brings a decade of global expertise to the Australian financial landscape, aiming to amplify its presence and add value to Australian companies. Ioannis Petratos, a Melbourne-based International Certificate in Investor Relations holder from the Investor Relations Society of the United Kingdom, will be the primary contact for the firm's Australian clients. He will be responsible for the company's service offering in the country and for tailoring it to the market's unique dynamics. Over the years, Pedrosa has worked with publicly listed companies on major exchanges such as Nasdaq, OTC Markets, Euronext, BIVA, Aquis, and the London Stock Exchange. These collaborations have resulted in successful Investor Relations campaigns, successful Initial Public Offerings (IPOs), and consistent features in top-tier global media in sectors like natural resources, mining, finance, and technology. With the expansion, Pedrosa aims to replicate its success in Australia, offering tailored services that meet the specific needs of the local market. Pedrosa's Australian operations will provide ASX and dual-listed companies services such as financial communications, investor relations strategies, sustainability and ESG communications, venture capital support, IPOs and non-deal roadshows, annual and ESG report production, global media relations, media intelligence, and reputation monitoring. The firm maintains a global presence with teams in London, Almaty, Doha, Los Angeles, and Madrid. For more information about the firm, please visit https://www.pedrosa.uk/ Pedrosa IR ir@pedrosa.uk +44 151 528 21 22

$17.5 Million Goodwill Estate Offers 730 Acres of South Carolina Landscape, Rich With Natural Beauty, History and Opportunity 2024-05-13 21:59:00+00:00 - Loading... Loading... LISTING LINK : https://www.premiersothebysrealty.com/single-family/clm/car4122309/229-joseph-kershaw-road-eastover-sc-29044 DROPBOX : https://www.dropbox.com/scl/fo/5kgsq95m93mjbdgxkn5ds/AAj2a60N4QJRPg8_V9q6XNs?rlkey=ewxf3w9e3evfwauekjhvuf8pz&st=zzzjqmi3&dl=0 PHOTO CREDIT: Drone Media and CDS VIDEO LINK: https://drive.google.com/file/d/1Afh1Q9p-vaZiBW4_1cd2j0HxUdYrigbj/view EASTOVER, S.C., May 13, 2024 (GLOBE NEWSWIRE) -- The Goodwill Estate, a 730-acre gated haven in the serene landscape of South Carolina, has entered the market for $17,500,000. With a history dating back to the 18th century, it was added to the National Register of Historic Places in 1986. The property is marketed exclusively by Tammra Granger and Julie Breedlove of Premier Sotheby's International Realty's Charlotte office. The listing details may be viewed here. A Media Snippet accompanying this announcement is available by clicking on this link. Established in 1795 by Daniel Huger II, the estate evolved from its agricultural beginning in the early 19th century and changed hands for George Wickes' milling operations in the late 19th century. In the 20th century, it became a retreat for PT Barnum's circus animals and later a hunting and fishing preserve under Samuel B. McMasters. While this remarkable estate has no conservation easements, it is situated amidst over 3,600 acres of preservation land, ensuring unparalleled privacy and a deep connection to the outdoors and native wildlife. Boasting two primary residences, each offering modern updates and breathtaking panoramic views of a private 35-acre lake, Goodwill Estate embodies a harmonious blend of refined luxury and natural beauty, providing an idyllic retreat for those seeking opulence and tranquility. The main home, spanning 8,400 square feet, is a masterpiece crafted in the Charleston style. Built in 2009-2010 by Billy Ray Caskey Custom Home Builder and Craftsman, this architectural gem features intricate details such as hand moulded brick exterior from the Old Carolina Brick Company and custom designed and built curved staircase gracefully framing an antique French Crystal Chandelier. A stunning fusion of historic charm and modern luxury, this residence is adorned with the timeless elegance reminiscent of Charleston's historic homes, featuring intricate molding, heart of pine flooring harvested from the estate's land, and refined architectural details. The sanctuary is furnished with curated custom-made furniture, valuable antiques, and majestic antique chandeliers and light fixtures with storied provenance; all of which convey to the new owner. The home seamlessly integrates old-world charm with contemporary convenience and efficiency, including an elevator. Each room exudes a sense of heritage and sophistication, while the state-of-the-art kitchen boasts top-of-the-line appliances, offering both timeless beauty and modern functionality. The secondary home, 5,500 square feet, built by the same custom builder offers similar luxury and charm, equipped with an elevator for accessibility and adorned with high-end finishes throughout. Loading... Loading... Beyond its exquisite residences, Goodwill Estate is steeped in history, with structures dating back to the 1830s. The grounds feature an operational grist mill, and sawmill powered by the original water wheel. Additional historic features include a hunting lodge, blacksmith shop, caretaker's home, two barns, corn crib and silo. The Heyward House remains on the property and has been converted into a private museum showcasing artifacts and antiques. The property offers 173 acres of rich wetlands, expansive pine timber forests, 12 miles of trails and scenic Colonel's Creek running through it, complete with a picturesque waterfall. Wildlife abounds with an island rookery, quail fields and meadows abundant with turkey and white-tailed deer. With approval for subdivision into 22 lots and potential for expansion or conservation, including carbon banking, the estate presents opportunities for both investors and homeowners alike. Moreover, a boat launch at nearby Wateree River allows access downriver to Charleston. Larry Faulkenberry, the current owner, emphasizes the estate's harmonious blend of historical authenticity and natural beauty, making it a unique and coveted destination for those seeking a piece of South Carolina's heritage. Quote: "This is a once-in-a-lifetime opportunity to own a piece of history and indulge in luxurious living surrounded by natural beauty. Primed for development or multigenerational living, the Goodwill Estate is more than a property; it's a timeless legacy awaiting its next chapter." Tammra Granger and Julie Breedlove, Premier Sotheby's International Realty About Premier Sotheby's International Realty Headquartered in Naples, Florida, Premier Sotheby's International Realty has over 1,400 sales professionals in 40 locations throughout Florida and North Carolina. Premier Sotheby's International Realty also benefits from an association with the storied Sotheby's auction house, established in 1744. The brokerage was founded by The Lutgert Companies, a prominent member of Southwest Florida's business community since 1964, and is proudly associated with Peerage Realty Partners. For more information, visit premiersothebysrealty.com . Media Contact: Elise Ramer Premier Sotheby's International Realty elise.ramer@premiersir.com P: 941.587.0257

Apple's new iPad Pro is thin and fast, but the software needs an update 2024-05-13 21:56:00+00:00 - In this article AAPL Follow your favorite stocks CREATE FREE ACCOUNT Apple's new iPad Pro comes in two sizes, and starts at $999. It also has a new add-on case called Smart Keyboard that makes it feel like a laptop. Apple 's new iPad Pro and iPad Air models launch Wednesday. I've been testing the new iPad Pro for several days, and what I found is that it's a very nice iPad. This is an important launch for Apple. Earlier this month, the company reported a 16% year-over-year drop in iPad revenue for its fiscal second quarter. Apple hasn't rolled out a new iPad since October 2022. The new iPad Pro is fast, with the latest M4 chip, and it has a new OLED display that's more colorful than prior screens. It's the thinnest product Apple has ever launched. But it still runs the same iPad software, and that's starting to feel dated. The fully loaded model I tested costs about $2,499. That's before you add the $350 keyboard and $129 Apple Pencil Pro, which will help you get more out of the device. It's time Apple makes this more than just an iPad. The software, called iPadOS, needs to catch up to the hardware. Here's what you need to know about it. What's good The new iPad Pro models at an Apple event. The new iPad Pro is the first Apple device with the M4 chip. The larger version with a 13-inch display is the thinnest Apple device to date, with a thickness of 5.1 millimeters. Christoph Dernbach | Picture Alliance | Getty Images The new iPad Pros cost $200 more than the models they replaced. I tested the larger 13-inch iPad Pro, which starts at $1,299 before storage and 5G upgrades. The 11-inch model starts at $999. The first thing I noticed when I picked it up was its thinness. It's noticeable compared with the M1 iPad Pro I've used for the past several years. And it's lighter. That's especially nice on the 13-inch model, which replaces the 12.9-inch version. I always thought it felt too heavy and clunky to use as a tablet. It still feels big, but it's more manageable. The new OLED screen is another highlight. It's clear and super colorful. It's similar to the OLED screen Apple has used on its iPhone Pros for years but not on iPads. The screen adapts, getting brighter in dark movies or showing scenes with explosions. And professional video and photo editors will appreciate its color accuracy. I loved using it for movies and while playing Diablo Immortal. The game will look better once Activision Blizzard releases an update enabling improved graphics for the M4 iPad Pro. The four stereo speakers sound nice and loud but not tinny. The camera is finally in the right place. It's along the landscape edge of the iPad so that, when it's propped up, it's dead center for FaceTime calls. It used to be on the top of the iPad, forcing that awkward glance to the side during video calls. The quality was nice and clear during my tests, and I like that the camera, using the Center Stage feature, followed me as I moved around the room. 2024 13-inch Apple iPad Pro Todd Haselton | CNBC The iPad has the latest and greatest M4 chip, which hasn't launched on Macs yet. I ran a GeekBench multicore benchmark test that shows it scoring 48% higher than the prior M2 iPad Pro. Apple promises up to 4x faster rendering over the M2 and 1.5x faster processor performance, which means video editing in Final Cut Pro for iPad and rendering things like 3D models is quicker for professionals who need it. The M4 also has a special engine that helps power the "Tandem OLED" displays. Apple took a unique approach to the iPad by stacking two OLED screens on top of one another, which requires this special part of the M4 chip to work. The iPad Pro felt quick when I ran two apps side by side, switching between Slack and the web browser, or loading into games. Apps switch in an instant. It wasn't much different from my M1 iPad for everyday stuff, like browsing the web and opening apps, which seems to be how iPads are mostly used. More on that in the next section. 2024 13-inch Apple iPad Pro Todd Haselton | CNBC The new iPad Pros support Apple's updated $350 Magic Keyboard for iPad Pro (the 11-inch version is $300). It's awesome and is just like typing on a Mac with a full function row above the number keys to switch apps, adjust the volume or brightness and more. Apple added a much larger trackpad and an aluminum palm rest but kept the same soft outside and "floating" screen mechanism, which allows you to snap the iPad onto the case using its magnetic pins and tilt it back and forth. 2024 13-inch Apple iPad Pro Todd Haselton | CNBC The updated Apple Pencil Pro is also a lot of fun. I mostly use the Apple Pencil to sign documents. But folks who draw or paint on their iPads, or need more control in 3D or video apps, will like the new features. I liked squeezing it to change between the tool — pencil or brush or eraser and the color — and the haptic pulse to confirm you've squeezed it. Developers can add the squeeze function to their apps so you can access different tools in different apps. The added gyroscope also allows you to tilt and twirl the pencil to change your pencil or pen stroke. Double tap is convenient, too, allowing you to switch between a pencil and eraser tool, for example. The hover function previews where you're going to touch the display. Apple promises the same battery life as the last iPad Pros. So you get about 10 hours of web browsing or watching video, or nine hours if you're browsing the web on a cellular connection. That lined up with what I received during my tests. Expect to get a full workday of use. Still, it's impressive given this iPad is 1.3mm thinner and 103 grams lighter than the last 12.9-inch iPad Pro. What's bad 2024 13-inch Apple iPad Pro Todd Haselton | CNBC Here's my biggest gripe about the Pro models: The software, iPadOS, is what you'll get on any other iPad. And while I think it works great, it's time for the Pro models to have a better operating system. My guess is Apple has something big planned for next month's Worldwide Developers Conference, and I hope it addresses this. I probably won't get my wish, but I'd love to see the iPad Pro act just like a Mac. Plop it into the keyboard and it turns into a touchscreen MacBook. Lift it off and use it like a regular iPad. It has a newer processor than Apple's MacBooks, so this should be possible if it's something Apple wants. Regardless, we need better multitasking. Stage Manager on the iPad Pro Todd Haselton | CNBC Apple's "Stage Manager" feature was supposed to make it easier to run multiple apps and switch between them, but it's still too confusing and clunky. Apps should open in separate windows and minimize just like on a Mac. And, since the M-series processors also power Macs, we should be able to run Mac apps, too. Apple talked a lot about artificial intelligence when it announced the new iPads. But, most of the AI is what Apple has previously called machine learning. A lot of that stuff happens behind the scenes. The camera can take multiple pictures of a document and scan it more accurately, for example. AI can isolate backgrounds in Final Cut Pro or generate music in apps such as StaffPad. Apple CEO Tim Cook has said he'll talk about generative AI during WWDC in June, so there are likely more features coming. Last, I wish the iPad Pro supported an always-on display like Apple's iPhone Pro. It would let me glance at the iPad to see notifications, music, widgets and more. However, the iPad's screen refresh rate bottoms out at 10hz instead of 1hz, which means it would still refresh too often and drain more power. Should you buy the 2024 iPad Pro? 2024 13-inch Apple iPad Pro Todd Haselton | CNBC

Mercedes-Benz faces crucial test as Alabama workers vote on whether to unionize 2024-05-13 21:48:00+00:00 - Alabama is front and center this week as the United Auto Workers looks to build on recent victories in the South, a region long hostile to organized labor. More than 5,000 Mercedes-Benz workers began voting Monday at a manufacturing factory in Vance as well as at a battery plant in nearby Woodstock. The balloting, which continues through Friday morning, comes on the heels of an overwhelming win at a Volkswagen plant in Tennessee after two failed attempts since 2014. "It is potentially a milestone event. What the UAW stands to gain is an acceleration of momentum for organizing the other 11 nonunion automakers," Harley Shaiken, professor emeritus at the University of California, Berkeley, told CBS MoneyWatch. The UAW has vowed to commit $40 million through 2026 to widen its reach to additional auto and electric vehicle workers, including in Southern states, where BMW, Honda, Hyundai, Kia and Nissan also have operations. Southern strategy The UAW has been on a roll since winning major concessions last fall from the the Big Three automakers in Detroit. In Chattanooga, Tennessee, VW workers last month voted to join the union, the first Southern autoworkers outside of of the Big Three to do so. The UAW also reached an agreement with truck and bus manufacturer Daimler Truck, averting a potential strike by more than 7,000 workers in North Carolina. But the outcome of this week's election is far from clear. The corporate opposition to the UAW is far stronger from Mercedes-Benz than the union faced in Tennessee, with the National Labor Relations Board investigating six unfair labor practice charges filed by the UAW against the company since March. Mercedes-Benz is accused of disciplining workers for discussing a union, firing union supporters and forcing employees to attend captive audience meetings while making "statements suggesting that union activity is futile," the NLRB said. "Volkswagen was lukewarm, Mercedes is red-hot opposed," said Shaiken, who noted that the latter had hired a large consulting firm and is coordinating with local political leaders to fight the UAW. Alabama Gov. Kay Ivey, for instance, said the state's model for economic success is "under attack" by out-of-state special interests. The Republican warned in January that the state's status as a national leader in automotive manufacturing — and the 50,000 jobs that came with it — is being jeopardized by the UAW. Mercedes-Benz said it looks forward to all its workers having a chance to cast a secret ballot "as well as having access to the information necessary to make an informed choice" on unionization. "We believe open and direct communication with our team members is the best path forward to ensure continued success," Mercedes-Benz stated in an email. In addition, Mercedes-Benz denied interfering or retaliating against employees, and dismissed allegations lodged against it as being without merit. "This is not how I treat my family" "Mercedes claims that we're a family, one team, one fight. But over the years I've learned on thing: This is not how I treat my family," Brett Garrard, a 20-year employee, told the AP. Workers are unhappy with wages that have not kept pace with inflation, insurance costs, irregular work shifts and the feeling of being disposable in a plant assembling luxury vehicles, relayed Garrad, 50. "Yes, we're Southern autoworkers, but we deserve autoworker pay." Other Mercedes workers are more skeptical of the UAW. Melissa Howell, 56, plans to vote against the union, saying she was wary of the UAW due to the bribery and embezzlement scandal that resulted in two former UAW presidents serving time in prison. After treating workers poorly for a few years and bolstering the UAW's case, the company recently began improving conditions, said Howell, who has worked at the Vance plant for 19 years. Mercedes now offers a starting hourly wage of $23.50 for full-time production workers with pay peaking at about $34 after four years, according to a state training website. Some workers said the company recently hiked wages to hinder the union's efforts. A loss in Alabama would be a blow but not a lethal one to the UAW's campaign to unionize in the South, according to Shaiken. "They'll get up, dust off their clothes and go on to the next candidate," said the labor economist. It took the UAW three tries to notch its recent victory at a Volkswagen plant in Chattanooga, he noted. "That could happen at Mercedes-Benz." — The Associated Press contributed to this report.

GameStop Trader 'Roaring Kitty' Sparks Wall Street Rally In Heavily Shorted Stocks: What You Need To Know Right Now - GameStop (NYSE:GME) 2024-05-13 21:34:00+00:00 - Loading... Loading... Several stocks with high short interest rallied on Monday following an incredible surge in GameStop Corp GME shares. Here’s a quick look at what you need to know. What To Know: The madness in meme stocks on Monday can be traced back to a social media post from Keith Gill, best known as "Roaring Kitty" on YouTube and X or "DeepF***ingValue" on Reddit. Following three years of silence, Gill took to X over the weekend, posting a meme of a sketched person leaning forward in a chair. GameStop shares more than doubled in Monday’s session before pulling back. The stock still closed up nearly 75% for the day. Several names with high short interest ripped higher in the wake of the GameStop rally. Yes, a simple meme kicked off a buying frenzy in heavily shorted names. Some of the biggest movers included retail darlings AMC Entertainment Holdings Inc AMC, Koss Corp KOSS, Tupperware Brands Corp TUP, VinFast Auto Ltd VFS and BlackBerry Ltd BB — the usual suspects. Other big movers on Monday included Beyond Meat Inc BYND, Plug Power Inc PLUG, QuantumScape Corp QS, IRobot Corp IRBT and Newegg Commerce Inc NEGG, among others. Check This Out: GameStop Dives Into Collectibles Market With Pokémon Trading Cards Why It Matters: The common thread between these names is that they are all heavily shorted. Retail traders tend to target heavily shorted names in an attempt to induce short squeezes that can spark massive moves higher when short sellers are forced to cover their positions. Check out Benzinga Pro for more information on heavily shorted stocks. What’s Next: If you want to try to get ahead of the next move, there are a couple of places to look, including Benzinga’s Stock Whisper Index, which tracks stocks that investors secretly monitor, but are not talking about yet. You can also use a screener to identify heavily shorted stocks or names with a high cost to borrow. According to Fintel data, Trump Media & Technology Group Corp DJT currently has the highest likelihood of experiencing a short squeeze. It’s followed closely by ARCA Biopharma Inc ABIO, Rent The Runway Inc RENT, SilverSun Technologies Inc SSNT and Mullen Automotive Inc MULN. When sorting the short squeeze leaderboard by short float, SunPower Corp SPWR jumps to the top of the list. Trump Media and ARCA Biopharma are the only names to appear again in the top five, listed second and third, respectively. It’s worth noting that more than 177 million GameStop shares changed hands on Monday versus GameStop’s 100-day average of less than 7 million, per Benzinga Pro. The stock is still trending across various social platforms at the time of publication. Read Next: Who Is Roaring Kitty? Why Does His Return To Social Media Matter For GameStop Stock? Photo: HeungSoon from Pixabay.

Presidential Candidate Robert F. Kennedy, Jr. and American Values 2024 File Lawsuit Against Meta for Election Interference and Censorship 2024-05-13 21:29:00+00:00 - Loading... Loading... NEW YORK, May 13, 2024 /PRNewswire/ -- American Values 2024 (AV24), along with Robert F. Kennedy, Jr., has filed the attached election interference case against Meta Platforms, Inc., Facebook Operations, LLC, Instagram, LLC, Mark Zuckerberg, and John Does 1- 10. Meta brazenly censored "speech by and supportive of Independent presidential candidate Robert F. Kennedy, Jr. " The lawsuit accuses Meta et. al. of violating Plaintiffs First Amendment rights, "civil rights law dating back to the Civil War," and "the American people's fundamental right to a presidential election decided by voters, not by trillion-dollar corporations." According to the complaint, Meta brazenly censored "speech by and supportive of Independent presidential candidate Robert F. Kennedy, Jr., and lying to the public about it." American Values 2024 released the thirty-minute film, "Who is Bobby Kennedy?" on May 3rd. "Shortly after its release, Who Is Bobby Kennedy began trending on X, the social media site formerly known as Twitter," reads one of the lawsuit's first bullet points. "Meta, however, censored it, blocking users on its platforms from watching, sharing, or even posting a link to Who Is Bobby Kennedy." The complaint further claims that both Facebook and Instagram "sent users messages threatening to suspend their accounts or otherwise punish them if they sought to watch, share or even post a link to the film." The short film's original posting has now been viewed more than 100 million times on X, formerly Twitter, but its reach on Instagram and Facebook has been minimal. The complaint describes Meta censorship as "election interference," stating, "Defendants seem to believe that they can with legal impunity issue threats to their users and deploy their vast power of censorship, account-suspension, and deplatforming in order to favor or target the presidential candidate of their choice." It further states, "Under the Support and Advocacy Clause of the Civil Rights Act of 1871, private companies and their officers and employees cannot in concert seek to prevent by force, threat or intimidation any citizen from engaging in lawful speech supporting or advocating the election of a presidential candidate." The complaint argues that Meta's current censorship must be seen in the context of recent Supreme Court censorship case Murthy v. Missouri. That case reveals "a campaign of unrelenting pressure from the most powerful office in the world" to "bend [social media platforms] to the government's will." The district court called this collusion and partnership between the White House government entities and officials and social media platforms "arguably the most massive attack against free speech in United States history." The complaint further quotes the district court as finding that it was "certainly likely that defendants could use their power over millions of people to suppress alternative views or moderate content they do not agree with in the upcoming 2024 national election." Tony Lyons, Co-Founder of AV24, stated the following: "Polls show that 20% of Americans still don't know that Kennedy is running for president. And as many as 30% more have been misled with respect to his character, his integrity, and the policies that he advocates. Reaching those voters could change the outcome of the 2024 election. How are people supposed to find out that they have a viable alternative candidate– that they don't have to vote for the lesser of two evils– when Meta is colluding with the Biden administration to block key channels for communicating with the American public?" Conceived, filmed and produced by Apple TV +'s The Morning Show creator Jay Carson and director Mike Piscitelli, the film tells Kennedy's story in an eloquent, candid, motivating, and entertaining way. It details how the prevailing narrative about him – "crazy," "dangerous," "unhinged" – bears little resemblance to the reality of who he is and the work he's done as a successful environmental attorney and corruption fighter. The film is narrated by award-winning actor, Woody Harrelson. Loading... Loading... Lawsuit Exhibit A Civil Cover Sheet About AMERICAN VALUES 2024 (AV24) American Values 2024 (AV24) is a super PAC committed to educating and mobilizing voters to elect candidates who will restore and protect the soul of democracy in the United States. Our long-term vision is to build a movement starting at the local level to create a national groundswell to address the critical issues our country faces. Today, AV24 supports Robert F. Kennedy Jr.'s presidential campaign. AV24 is co-founded by Mark Gorton (Chairman of Tower Research Capital) and Tony Lyons (President of Skyhorse Publishing). Media Contact Lindsay Stevens lindsay@av24.org 213-200-9638 SOURCE American Values 2024

Owner of Raptors and Maple Leafs in talks to seal buying French soccer club Saint-Étienne 2024-05-13 21:26:11+00:00 - SAINT-ETIENNE, France (AP) — Storied French soccer club Saint-Étienne said on Monday it was in exclusive talks for a sale to the owner of the Toronto Raptors and Toronto Maple Leafs. The full purchase of the 1976 European Cup finalist by Larry Tanenbaum’s Kilmer Group should be ratified within weeks, the club said in a statement four days before a key end-of-season game in its push to be promoted back to the top tier. “I know what Saint-Étienne represents for its community and for French football,” Tanenbaum said in the statement, calling the club from central France “the beating heart of a city and its region.” Saint-Étienne is a 10-time champion of France, though not since 1981, when its star player was French great Michel Platini. Its 41,000-seat stadium is one of the venues for the men’s and women’s soccer tournaments at the Paris Olympics. The pending deal was announced as Saint-Etienne prepares to end the second-tier regular season needing to win at Quevilly on Friday to stay in contention for a runner-up finish. Saint-Étienne, which was relegated two years ago, is assured of at least a third-place finish and entry into a promotion playoffs bracket involving four teams. The club said it wanted to “ensure an ambitious future” with a new owner that was “trusted, experienced and financially solid.” Tanenbaum is the chairman and CEO of Kilmer Group and chairman of the board for Maple Leaf Sports and Entertainment, which owns the NBA’s Raptors and NHL’s Maple Leafs. Kilmer also is reportedly being awarded a franchise in Toronto for a WNBA team. Saint-Étienne said the deal was being negotiated for Kilmer by Ivan Gazidis, the former CEO of Arsenal and Inter Milan. ___ AP soccer: https://apnews.com/hub/soccer

Fewer homeowners are remodeling, but demand is still 'solid' 2024-05-13 21:26:00+00:00 - Fewer homeowners have been taking on remodeling projects, reports show. But don’t mistake it for a slow market. The Leading Indicator of Remodeling Activity, an outlook measuring home improvement and repair spending on owner-occupied homes, peaked at 17.3% in the third quarter of 2022. The LIRA has been declining since, and slid 1.2% in the first quarter of 2024 compared to the prior quarter. The NAHB/Westlake Royal Remodeling Market Index by the National Association of Home Builders reflects a similar decline. The RMI, which measures remodelers’ sentiment about the market, peaked at 87 points in the third quarter of 2021, and like the LIRA, has been consistently declining since. In the first quarter of 2024, the measure fell to 66 points, down one point from the previous quarter. However, the RMI is still in territory where more remodelers see the conditions as “good” rather than “poor,” said Robert Dietz, chief economist of NAHB. In a release for the group’s first quarter report, NAHB Remodelers Chair Mike Pressgrove noted that “demand for remodeling remains solid, especially among customers who don’t need to finance their projects at current interest rates.” Covid lockdowns, inflation influence remodeling activity The height of the Covid-19 pandemic brought with it a burst of home renovation activity. Homeowners were eager to invest in the spaces they were spending so much time in: updating key spaces like kitchens and bathrooms, building out home offices and adding pools. Some also had savings built up thanks to stimulus checks, and from activities they couldn’t do during early lockdowns — and rerouted that money toward home improvements and remodels, said Abbe H. Will, senior research associate and associate director of Remodeling Futures at the Joint Center for Housing Studies at Harvard University. In 2021, owners used cash from savings to pay for nearly four out of five projects, according to a JCHS report. “We’re coming off such high levels of spending,” Will said. As Covid-era savings have dried up, so has that boost in activity. Homeowners are doing fewer and smaller remodels. Yet they are spending more per project, in part due to broader inflation and higher costs for materials and construction labor. Homeowners spent an average $9,542 on home improvements in 2023, a 12% increase from a year prior, according to the State of Home Spending by Angi. At the same time, the amount of projects decreased to an average of 2.8 projects in 2023 from 3.2 in 2022. The survey polled 6,400 consumers between Oct. 22 and Oct. 23. The increase in home improvement spending, along the decrease in projects, suggests inflation corroded household budgets, according to the home services website. 'We haven't built a lot of new housing' While home improvement activity is expected to further moderate from pandemic highs, remodelers continue to be busy with work. Contributing to demand: Owners are living in their homes for longer and the existing housing stock in the U.S. is getting older. Both factors are going to require homeowners to invest in the upkeep of their properties, experts say. As of 2024, the typical homeowner’s tenure in their home is 11.9 years, according to Redfin, a real estate brokerage site. That’s nearly double the average 6.5 years in 2005. It’s largely driven by baby boomers aging in place; nearly 40% of boomers have lived in their homes for almost 20 years, while 16% have stayed in their home for at least a decade, Redfin found. “Aging-in-place remodeling” has turned into a big subsector in the remodeling market as baby boomers move into their retirement years, said Dietz. Instead of relocating, some retirees plan to stay in their neighborhoods or close to family. “But that means they’re investing in their homes, whether it’s energy efficiency items [or] safety items like lighting and railings,” Dietz said. However, the real driver for remodels is the aging housing market. In 2021, the median age of all owned homes was 41 years old, according to the 2021 American Housing Survey by the U.S. Census Bureau. Homes built in the 1980s or earlier make up about 60% of existing stock, according to a U.S. Census data analysis by the NAHB. More from CNBC: “It really speaks to the fact that we haven’t built a lot of new housing over the last decade. That aging housing stock is going to require investment,” Dietz said.

Dow slips for first losing day in nine as consumers' expectations for inflation rise 2024-05-13 21:25:00+00:00 - The Dow Jones Industrial Average slipped on Monday, snapping an eight-day winning streak, as traders grappled with rising inflation expectations ahead of key reports due later in the week. The 30-stock Dow fell 81.33 points, or 0.21%, to close at 39,431.51. The S&P 500 inched lower by 0.02%, ending at 5,221.42. The Nasdaq Composite added 0.29%, closing at 16,388.24. A New York Federal Reserve survey showed consumers last month raised their expectations for price increases in both the near and long term. On a one-year basis, inflation expectations rose to 3.3%. Their five-year outlook ticked up to 2.8%. Stocks gave back earlier gains after the survey results were issued. The numbers also come ahead of two key economic data releases. The consumer price index report is slated for Wednesday. Economists expect an April increase of 0.4% month over month and 3.4% year over year, according to Dow Jones. The producer price index, due out Tuesday, is expected to have risen 0.3% last month. Shares of meme stock GameStop soared 74% after “Roaring Kitty,” the moniker of the Reddit trader behind 2021′s short squeeze, posted online for the first time in three years. The 30-stock Dow is coming off its best weekly performance of 2024, rising more than 2% last week. The S&P 500 and Nasdaq climbed more than 1% each during that period. The major averages have clawed back to within reach of their record levels set in March following a brief pullback. The Dow, S&P 500 and Nasdaq are all within 1% of their closing highs.

Billionaire Arthur Irving, one of Canada’s richest men, dies at age 93 2024-05-13 21:22:59+00:00 - SAINT JOHN, News Brunswick (AP) — Arthur L. Irving, one of Canada’s richest people and the son of Canadian industrialist K.C. Irving, has died at the age of 93 after a life spent growing the oil business his father founded. Irving Oil announced his death in a statement, saying he died Monday surrounded by his wife, Sandra, and daughter, Sarah. Forbes Magazine listed Arthur Irving as being among the top 10 richest Canadians in 2023. At the time of his death, he had an estimated net worth of US$6.4 billion, which includes a refinery in New Brunswick that is Canada’s largest, along with the Whitegate refinery in Ireland. Born in 1930, Irving attended Nova Scotia’s Acadia University before leaving to join Irving Oil in 1951, where he worked with his father and his two brothers. “I had the choice to go on at Acadia or learn about business from the best teacher available anywhere — my father,” he told author Donald Savoie in his 2020 book about Irving Oil. “I went with the best teacher.” He became president of the company in 1972 and was chairman emeritus when he died. His death comes as the company’s Saint John refinery is undergoing a “strategic review” to determine its future, as climate change is prompting a shift away from fossil fuels in some nations. While his biographers have credited Irving with success in expanding the company, he also had a life marked by family difficulties, including a contentious 1980 divorce with his first wife and — more recently — his estrangement from his eldest son. In his book, “Irving vs. Irving,” published in 2014, journalist Jacques Poitras described a poignant scene from August 2013, when Irving stood at a Saint John news conference announcing that his company was officially launching a bid — which ultimately didn’t succeed — to build a pipeline to carry crude oil from Alberta to the family’s refinery. Poitras noted that Kenneth, “his son and heir,” was notably absent after a falling out led to his departure from the company in 2010. “Arthur, in his eighties, was surrounded by admirers, yet alone. His refinery loomed in the background ... but his family was torn asunder,” Poitras wrote. In the 1980s and ’90s, Arthur Irving’s business life and interests were tightly tied to his two brothers, J.K. and Jack, as they took primary responsibility for different segments of the business empire their father had created. The trucking firms ran on the companies’ refined gasoline, the forestry and shipping interests used the Irvings’ construction subsidiaries, and a chain of newspapers purchased the newsprint from a nearby factory. In late 2009, the three Irving brothers separated their business interests, with Arthur assuming control of the energy business. In its statement, the company described Irving as “a steadfast champion of Atlantic Canada and its people” and one of a kind. “In this immense loss, we know there will never be another like him,” it said.

Georgia GOP’s scandal makes its ‘election integrity’ argument very awkward 2024-05-13 21:21:49+00:00 - In a Republican Party with no shortage of election deniers, Georgia Republicans have arguably been the most rabid in pushing laws to support their claims — despite evidence to the contrary — that voter fraud can sway elections. Gov. Brian Kemp and fellow Georgia Republicans have occasionally been at odds, but they have been in sync as far as supporting laws that make it easier to purge people from voter rolls and strict voter suppression measures that have been shown to disproportionately affect nonwhite voters. It should go without saying: If you’re going to push false claims about voter fraud in the name of “election integrity,” you better make sure your own house is clean. It should go without saying: If you’re going to push false claims about voter fraud in the name of “election integrity,” you better make sure your own house is clean. And yet, time and again, we’ve seen Republicans being charged and occasionally even convicted of election fraud despite their accusatory crusade. And the Georgia GOP is no different. On Friday, Georgia Republicans overwhelmingly voted to remove the state party’s first vice chairman, Brian Pritchard, from his position after a judge found in March that he had voted illegally in nine elections in 2008 and 2010. (Pritchard has denied any wrongdoing.) As The Associated Press reported: In March, Administrative Law Judge Lisa Boggs found that Pritchard was still on probation when he moved to north Georgia’s Gilmer County after he pleaded guilty to forging signatures on two checks worth $38,000 in his home state of Pennsylvania in 1996. She ruled that Pritchard lied when he registered to vote in 2008 by swearing he wasn’t serving a sentence for a felony conviction. Boggs found that Pritchard voted illegally in nine elections in 2008 and 2010, fined him $5,000, ordered that he receive a public reprimand and ordered him to repay the $375 that the State Election Board spent investigating the case. In a statement, Georgia GOP Chairman Josh McKoon said the vote “demonstrates how serious we take election integrity.” That echoes statements we’ve heard from other conservatives, including Rep. Marjorie Taylor Greene, R-Ga. But you might want to hold off on praising them for taking a moral stance here. As best I can tell, right-wingers aren’t questioning the results of these elections. So it seems clear what game Republicans are playing here. They apparently think it’s easier to throw their own under the bus — so they can keep portraying Democrats as the true election cheaters.

Third person pleads guilty in probe related to bribery charges against US Rep. Cuellar of Texas 2024-05-13 21:13:56+00:00 - AUSTIN, Texas (AP) — Federal investigators have secured a third guilty plea in connection with an investigation into U.S. Rep. Henry Cuellar of Texas on charges that he accepted nearly $600,000 in bribes from an Azerbaijan-controlled energy company and a bank in Mexico. Irada Akhoundova, 67, pleaded guilty May 1 in Houston federal court to acting as an agent for Azerbaijan without registering with federal officials. Details of her guilty plea were unsealed on May 9. Federal authorities have charged Cuellar, 68, and his wife Imelda Cuellar, 67, of accepting the money from 2014 to 2021 in exchange for the congressman advancing the interests of the former Soviet republic and the Mexican bank in the U.S. He says they are innocent. One of Cuellar’s top former aides, Colin Strother, and a Texas political and business consultant, Florencia Roden, struck plea deals in March on felony money laundering charges related to the Mexican bank. Court records noted Akhoundova’s plea agreement comes from the same investigation, and like the other two, includes that she “fully cooperate with the United States.” The alleged bribes from Azerbaijani interests totaled more than $300,000. “As long as Akhoundova tells the truth, then we have nothing to worry about,” Cuellar attorney Chris Flood said Monday. “Congressman Cuellar never agreed to act as a foreign agent and has always voted his conscience and for the best interests of his constituents, consistent with many of his colleagues.” Akhoundova’s plea agreement described her as an “active member of the Texas Azerbaijani-American community.” It said she worked from 2014-2017 as director of a Texas affiliate of an Azerbaijan energy company, where she transmitted false consulting invoices and helped facilitate payments she thought were “in the interests” of the oil company and the Azerbaijan government. The agreement also said she knowingly helped set up another Texas affiliate company that would act on behalf of the Azerbaijan government and a state-owned oil company, without registering as an agent of a foreign principal. Akhoundova faces up to five years in prison. An attorney for Akhoundova has not responded to a message requesting comment Monday. According to the indictments against the Cuellars, the Azerbaijan energy company initially made the payments through a Texas-based shell company owned by Imelda Cuellar and two of the couple’s children. That company received payments of $25,000 per month under a “sham contract,” purportedly in exchange for unspecified strategic consulting and advising services. Azerbaijan officials wanted to build support for the country in its conflict with Armenia over disputed territory, the immigration status of Azerbaijani citizens, and promotion of the country as a strategic U.S. ally, according to the indictment. Among other things, Cuellar agreed to influence legislation favorable to Azerbaijan and deliver a pro-Azerbaijan speech on the floor of the U.S. House, the indictment states. Cuellar was at one time the co-chair of the Congressional Azerbaijan Caucus and the indictment against him says an Azerbaijani diplomat referred to him in text messages as “el Jefe” or “the boss.” In addition to bribery and conspiracy, the Cuellars face charges including wire fraud conspiracy, acting as agents of foreign principals, and money laundering. If convicted, they could face decades in prison and forfeiture of any property linked to proceeds from the alleged scheme.