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Baltimore bridge collapse a 'national economic catastrophe,' says Maryland governor 2024-03-31 18:48:00+00:00 - The collapsed Francis Scott Key Bridge lies on top of the container ship Dali in Baltimore, Maryland, on March 29, 2024. The collapse of Baltimore's Francis Scott Key Bridge on Tuesday is likely to send shock waves across the U.S. economy, as a key shipping route for certain goods remains snarled for the foreseeable future, officials said Sunday. "This is not [just] a Baltimore catastrophe, not a Maryland catastrophe. This is a national economic catastrophe as well," Maryland Gov. Wes Moore said Sunday on CNN's "State of the Union." The channel that's now blocked by the wreckage is a primary access point for the Port of Baltimore, which Moore described as among the "busiest [and] most active" in the nation. "This is going to impact the farmer in Kentucky. This is going to impact the auto dealer in Ohio. This is going to impact the restaurant owner in Tennessee," he said. U.S. Transportation Secretary Pete Buttigieg echoed that sentiment. "It's important not just to the people and the workers of Baltimore, but to our national supply chains to get that port back up and running as quickly as possible," Buttigieg said on CBS' "Face the Nation." The bridge collapsed Tuesday after a large cargo ship crashed into it, following a mayday call shortly before the collision. Two construction workers died; four are missing and presumed dead. An operation to remove the ship, clear out debris and reopen the channel began Saturday, officials said. "Parts of the non-federal channel are already being worked on and there is a 1,000-ton-capacity lift crane on a barge being put into place now," Buttigieg said. There's another 600-ton crane on the way, he added. There isn't yet a timeline for that salvage work to be completed, Buttigieg said. The time frame for the bridge to be rebuilt is also unclear, he said. Federal and local officials reiterated that the operation would be lengthy and complex. "We have a ship that is nearly the size of the Eiffel Tower that is now stuck within the channel that has the Key Bridge sitting on top of it," Gov. Moore said. "And so this is going to be a long road ... But movement is happening."
Why investors should check the outstanding share count before buying a stock 2024-03-31 18:36:00+00:00 - More than half of the stocks in the S & P 500 hit new 52-week highs in the first quarter, leaving us to puzzle over how this all happened. We act as if it's all about the earnings or the actions of the Federal Reserve. But maybe it is something else. Maybe it's the share count that trades versus the portion that doesn't? It's a strange commonality that's never talked about. Let's talk about it. I want to start with the housing sector, the group that should have been obliterated by the aggressive tightenings by the central bank — 11 total in the cycle. We can just look at the vulnerability of the group and wonder how it could come out unscathed. The balance sheets have to be in tatters, the issuance must be a horror show. But what if I told you this group shrunk its share count dramatically since 2019? The numbers tell the story: Lennar now has 276 million shares outstanding, down from 318 million five years ago. Toll Brothers has 105 million, down from 145 million. PulteGroup has 215 million shares, down from 275. KB Homes is down to 75 million from 88 million, while DR Horton dropped to 333 million from 372 million shares outstanding. This change is incredible and unheralded — and largely unnoticed. With 22% of the S & P 500 held by passive index funds, you have a phenomenal, ever-shrinking denominator. That results in what the strategists would call a secular change. But it's nothing of the sort. It's a recognition that these shares are more precious than the land that they could accrue without options. Remember the homebuilders can option to buy land not just buy it. Other than Toll, most of the homebuilder management teams do not emphasize this fundamental change in share count. I wouldn't have thought much about it if CEO Douglas Yearley hadn't repeatedly talked about it in his amazing, clinical calls with investors. Those of us who have been at this long enough know that this group lacked discipline, or at least didn't seem to care about the value of the shares. They cared about buying land and putting up homes. We know we have a shortage of homes. You are not going to see much from these companies to alleviate the shortage. Why bother? It is so difficult for them to find parcels, especially in places like California which have turned pretty radically against development. The number of homes built has been incredibly low recently and historically. The homebuilders showed amazing discipline between 2022 and 2023, building 1.46 million, down from 1.5 million a year earlier, a 9% decrease. Compare that to the last time we went into a tightening cycle in 2005 when homebuilders put up 2.1 million new homes. We had 295 million people in the country back then, and now we have 334 million. Do you want to get nostalgic? In 1973 we put up 2.289 million homes with 210 million people in the country. (With 226 million people in 1980 we built 1.3 million just for perspective.) In other words, with a soggy economy in 1973, we built like crazy with far fewer Americans (using census data not extrapolation of illegal immigrants from any poll). In 2005, before the housing bubble burst, we were smitten with housing at 2.1 million even as rates were about to tighten. To put it more bluntly, the homebuilders showed no discipline whatsoever going into vicious tightening cycles. They learned their lesson. But the investors and hedge funds didn't. Anecdotally, this was the group to short. In retrospect, it was the group to cover, hold, and buy because the builders paid little attention to census numbers and, instead, focused on shares versus land buys and decided, emphatically go to with the former. Strange? Erratic? How about brilliant? Brilliant like a lot of other companies. We bought consumer tech retailer Best Buy this week for the trust. Why not? Management has been buying hand over fist since 2019, shrinking the share count to 215 million from 264 million. You get a PC refresh cycle and a resumption of renovation and repayment, you are going to see a spike to beat the band. That's what we saw with: Dick's Sporting Goods , which took its share count to 80 million from 87.5 million Abercrombie & Fitch , an amazing performer, which went to 50 million shares from 64 million Williams-Sonoma , which shrunk to 64 million from 78 million Autozone to 17 million from 25 million (and you wonder why I am so focused on it.) These are simply phenomenal reductions in shares over the last five years. If we throw auto retailers — AutoNation (42 million shares outstanding from 90 million) and Carmax (150 million from 174 million) — we still see a ton of discipline. Think about it all like this: The specialty retailers have been picked on and shorted endlessly. Bad call. You can challenge the big boxers. Only Walmart has taken down its count to 8.1 billion from 8.6 billion. But that's a distinct outlier. The companies that found their stocks cheap had some spectacular performance during the comeback from the tightening cycle and were buying all along. So were the cyclical stocks: Caterpillar CEO Jim Umpleby has been a gigantic buyer of stock since 2019, shrinking the share count to 504 million from 561 million Eaton is down to 401 million shares, from 420 million Illinois Tool Works dropped to 300 million from 323 million DuPont had a crazy decrease to 430 million from 746 million (a reorganization played a role) Dow cut its share count to 703 million from 742 million Cummins went to 141 million shares from 155 million Oh, and you want voracious? Consider the economically sensitive refiners, one of the best-performing groups in the entire market: Marathon Petroleum is down to 584 million, from 810 million shares outstanding. (Elliott Management, which almost always goes after companies that they think are undervalued and should be buying back stock, has a lot to do with this.) Valero Energy decreased its shares to 337 million from 413 million. Finally, the always proxy-attacked rails: Union Pacific to 608 million shares from 703 million Norfolk Southern to 226 million from 263 million (under siege right now from an activist with a proxy contest on the horizon.) CSX to 1.9 billion from 2.38 billion Lest you think this is all one giant aberration, the tech and healthcare companies, under-performers at times, have sloppy issuance almost routinely. It's embarrassing how much stock the techs issue, but that's the stock-based compensation that's so prevalent. It's not a coincidence that five hedge funds demanded that Salesforce CEO Marc Benioff stop issuing stock and start buying back his company's float. As of Jan. 31, it stands at 984 million shares, down from 997 million a year earlier. The stock's been moving in the right direction. Sure, there are tech rocket ships with earnings that exceed share count like Nvidia . Although, interestingly enough, CFO Colette Kress has kept the share count steady at 2.4 billion since 2021. Apple is a serial buyer, taking its shares down to 15.9 billion from 18.6 billion in 2019. Microsoft did too, going to 7.43 billion from 7.6 billion — a little lighter than people would like. There are not many other significant buyers other than Meta Platform's trading class — to 2.63 billion from 2.88 billion. Most of the other sectors just don't make it an imperative. The pattern is unmistakable. To be oblivious is to ascribe qualities to companies that aren't deserving. The earnings can fluctuate. But the buybacks? Not so much. It's something I wish I had paid more attention to. We had a nice win in Caterpillar's stock but it just kept powering higher, another 60 points from our abandonment. That's the share count speaking more than the earnings. What does it all mean? It's a recognition by corporate America that if you issue stock you better have some real secular wave going for it, because otherwise you will be left behind by despised cohorts like mall stores: ANF, Best Buy, Dick's, and Williams Sonoma. The railways and the refiners just won't let you short them without real consequences. Share reduction leads to better stock prices because of the growth of passive index funds. They are so voracious that one can only guess how hard it must be to reduce a share count by 300,000 to 500,000 shares without moving the stock. You can buy all you want of the techs that size. They trade, as they say in the business, like water. Same with healthcare stocks, as the companies have to issue stock to find pipelines externally. My rather unassailable conclusion is pretty simple: Check the share count before you buy a stock. You want a management that agrees with you, not one that thinks it can give away stock as compensation, often to throw you off the scent of adulterated earnings power. Or, to complete the cycle: If you short the homebuilders, send me an invitation to your funeral. They know what's happened in this country: we are against building no matter what the homes cost, up 40% in the last five years. Maybe they all learned their lessons from 2005. Or maybe they learned the lesson of passive investing and dear land, the lesson that says you have to be crazy to think that the stock of a homebuilder has anything to do with a Fed tightening cycle. It's only in the alternate world of endless focus on the Fed that it matters. What a disservice we have done to the average investor in our relentless Fed coverage if we are about helping people make money. But it's darned good if we only care about the competition of cash versus stocks. And there, with indexing and a 4-5% rate, the shining of stocks with lower share counts is even more outstanding. I lament the abstruse Fed coverage. When I covered general assignment stories as a reporter we looked at the day book — a release of whatever standard numbers would come out, including things like homicides and robbery, and would do stories as a matter of rote because we had little else to do if there was nothing else going on. Now every rotary speech of any of the myriad Fed officials is covered as gospel. It should be gospel if you are a theoretician. But stay out of my zone. I can't tackle you. This isn't the NFL. I can make it so the coverage is so strong that the offense will go elsewhere. Right now, that's good enough for me and I hope, Club members, it's good enough for you. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. Construction workers work on a home, as a subdivision of home is built in San Marcos, California, January 31, 2023. Mike Blake | Reuters
Kia recalls over 427,000 Telluride SUVs because they might roll away while parked 2024-03-31 18:23:11+00:00 - NEW YORK (AP) — Kia is recalling more than 427,000 of its Telluride SUVs due to a defect that may cause the cars to roll away while they’re parked. According to documents published by the National Highway Traffic Safety Administration, the intermediate shaft and right front driveshaft of certain 2020-2024 Tellurides may not be fully engaged. Over time, this can lead to “unintended vehicle movement” while the cars are in park — increasing potential crash risks. Kia America decided to recall all 2020-2023 model year and select 2024 model year Tellurides earlier this month, NHTSA documents show. At the time, no injuries or crashes were reported. Improper assembly is suspected to be the cause of the shaft engagement problem — with the recall covering 2020-2024 Tellurides that were manufactured between Jan. 9, 2019 and Oct. 19, 2023. Kia America estimates that 1% have the defect. To remedy this issue, recall documents say, dealers will update the affected cars’ electronic parking brake software and replace any damaged intermediate shafts for free. Owners who already incurred repair expenses will also be reimbursed. In the meantime, drivers of the impacted Tellurides are instructed to manually engage the emergency break before exiting the vehicle. Drivers can also confirm if their specific vehicle is included in this recall and find more information using the NHTSA site and/or Kia’s recall lookup platform. Owner notification letters are otherwise set to be mailed out on May 15, with dealer notification beginning a few days prior. The Associated Press reached out to Irvine, California-based Kia America for further comment Sunday.
U.S. sends more weapons to Israel amid growing calls for cease-fire 2024-03-31 18:13:00+00:00 - The U.S. is sending a fresh round of bombs to Israel, two senior administration officials told NBC News, undermining the Biden administration’s public expressions of frustration at Israel’s conduct in the war and its own efforts at brokering a cease-fire. The bombs are part of a weapons package that was approved for Israel years ago, but is only being fulfilled now — and includes more than 1,800 Mark 84 (MK84) 2,000-pound bombs and approximately 500 Mark 82 (MK82) 500-pound bombs, the officials said. The delivery of the weapons package was first reported by The Washington Post. The Mark 84 and 82 are dumb bombs that can be converted into precision-guided ones with the help of a guidance kit, which the U.S. has provided in the past. Even with precision guidance, these bombs likely lead to civilian deaths, and it’s believed that Israel has used them in its campaign in Gaza. “These are the bombs that can destroy entire blocks,” one senior administration official said of the MK84 bombs. The delivery comes as U.S. officials said Israel has provided Washington with assurances that it is using American-supplied weapons within the laws of war. Israel receives $3.8 billion in annual military assistance from the U.S., but there is growing criticism of Washington’s continued supply of weapons to Israel six months into the war amid international scrutiny of Israel’s military tactics in Gaza and a mounting civilian death toll. Cease-fire negotiations are expected to resume between Israel and Hamas on Sunday in Egypt’s capital, Cairo, according to the country’s Al-Qahera television. However, a Hamas official told NBC News on Sunday the group will not attend. The Israeli prime minister’s office confirmed to NBC News the talks would resume “next week.” Any new deal would likely result in a lengthy pause in fighting in exchange for the release of some of the estimated 140 hostages still in Hamas captivity. Ongoing efforts by mediators have stalled, and there has been little indication since the last truce in November that the two sides have moved closer to a deal. Last week, the United Nations Security Council passed a symbolic resolution calling for an immediate cease-fire between Israel and Hamas after the U.S. abstained from the vote, drawing anger from Israel. It came after the U.S. vetoed several past resolutions calling for the end of hostilities. While the Biden administration’s public frustration with how the Israeli government is handling the war appears to be growing, U.S. efforts to achieve a cease-fire will be overshadowed by the revelation that it continues to send Israel powerful bombs known to cause serious harm to the civilians. In the nearly six months of fighting since the Oct. 7 attacks, more than 32,000 people have been killed in Gaza, with thousands more trapped under the rubble and presumed dead, according to Palestinian officials. The fighting has destroyed hospitals, schools and other civilian infrastructure, displacing the vast majority of the enclave’s more than 2 million people. But Israel has maintained that there is no turning back until all of Hamas has been destroyed, and it has continued its military offensive in defiance of increasingly sharp demands for a cease-fire from global leaders and international organizations amid declining support for Israel’s war around the world. Last week, the U.N. special rapporteur on the occupied Palestinian territories determined that the hostilities have already reached the level of genocide. The Israel Defense Forces said Sunday it was continuing with “precise operational activity” in the area of Gaza’s main hospital, which it says is being used as a Hamas hub. The Al-Shifa Hospital in Gaza City has been under an Israeli army raid for nearly two weeks, raising questions about the fate of civilians sheltering at the site. The IDF said Saturday it eliminated four senior Hamas operatives at the hospital. Officials in Gaza said Saturday that the Al-Shifa operation has claimed 400 lives so far. NBC News was not able to verify this number and has reached out to the IDF for comment. The raid is also delaying a new mission to the hospital from the World Health Organization, its chief, Tedros Adhanom Ghebreyesus, said Saturday, noting three prior missions had been denied. “100 patients and 50 health workers are reportedly still inside the nonfunctional facility, with hostilities around it,” Tedros said on X. “We are extremely worried about their condition and safety.” Gaza’s authorities said more than 1,000 homes in the vicinity of Al-Shifa have been targeted. The Ajour family’s home behind the hospital was one of them, illustrating the civilian toll and calling into question the IDF’s claim that its attacks are targeted. The home was hit last week, killing seven. A small child was the only survivor, with more children feared to be buried in the rubble. Civil defense workers told NBC News they could not look for those trapped inside because there is no coordination with the Red Cross and the fighting in the area is too dangerous. Hamas authorities in Gaza also accused Israel on Sunday of bombing the tents with displaced people and journalists inside the walls of Al-Aqsa Martyrs Hospital in the Deir al-Balah area of central Gaza, resulting in deaths and injuries. The IDF said its aircraft struck an “operational Islamic Jihad command center” that operated from the courtyard of the hospital. NBC News geolocated footage showing the aftermath of the hit on the hospital courtyard, including medical personnel helping the wounded and at least one injured person lying on the ground, but is unable to independently confirm the conflicting accounts of the attack. The hostilities continue to keep aid from reaching those in need inside Gaza. While trucks with desperately needed food continue to trickle in slowly at land crossings controlled by Israel, a second convoy of three ships and a barge with 400 tons of food and other supplies set sail from Cyprus this weekend. World Central Kitchen, the charity behind the operation, said there was enough food in the latest shipment to prepare more than 1 million meals. The organization’s first ship carrying the aid reached Gaza two weeks ago in the first such maritime delivery since the conflict broke out. Palestinian health officials reported earlier this month that 27 children have died due to malnutrition and dehydration in Gaza, but the true death toll from starvation is likely to be significantly higher, the United Nations has warned, and it is set to rise. A report released by the Integrated Food Security Phase Classification earlier this month said famine was imminent in northern Gaza and the famine threshold for acute food insecurity has already been far exceeded.
‘Godzilla x Kong: The New Empire” roars to an $80 million box office opening 2024-03-31 18:12:21+00:00 - LOS ANGELES (AP) — The Godzilla-King Kong combo stomped on expectations as “ Godzilla x Kong: The New Empire ” roared to an $80 million opening on 3,861 North American screens, according to Sunday studio estimates. The monster merger from Warner Bros. and Legendary Pictures starring Rebecca Hall and Brian Tyree Henry brought the second-highest opening in what has been a robust year, falling just short of the the $81.5 million debut of “Dune: Part 2.” Projections had put the the opening weekend of “Godzilla x Kong: The New Empire,” which sees the monsters teaming up instead of squaring up, at closer to $50 million. “It’s a cinematic event, and we’re seeing these iconic characters doing things we’ve never seen them do before,” said Mary Parent, chairman of worldwide production for Legendary. “There’s big swaths of the film that don’t have any dialogue, where we put you with the characters, it’s a very mythic experience.” Last week’s No. 1 at the box office, “ Ghostbusters: Frozen Empire,” was second with $15.7 million for a two-week total of $73.4 million. “ Dune: Part Two ” stayed strong in its fifth week, falling in the third spot with an $11.1 million take and a domestic total of $252.4 million. The last matchup of the two monsters from Warner Bros. and Legendary, 2021’s “ Godzilla vs. Kong,” had a much smaller opening weekend of $48.5 million, but for a film slowed by the coronavirus pandemic and released simultaneously on HBO Max, it was a serious success that signaled what was to come for the pairing. “It was a really big number all things considered,” Parent said. The newer film had the second biggest opening of the studios’ broader MonsterVerse franchise. “Godzilla” brought in $93.2 million in 2014. It was the biggest earner in the nearly 70-year cinematic history of the creature that originated and spent most of its screen life in Japan. It earned more than $200 million in North America and more than $500 million globally. “Godzilla x Kong” comes just four months after the most recent Japanese rendition, the critical favorite and Oscar winner “Godzilla Minus One.” But there was clearly no Godzilla glut for audiences, many of whom were willing to pay extra for IMAX and other special formats. “These are literally two of the biggest movie stars in the world, and you have to see them on the biggest screen possible with the biggest sound possible,” said Paul Dergarabedian, senior media analyst for data firm Comscore. The combination of “Godzilla x Kong,” “Dune Part Two” and “Ghostbusters” has put the year to date 6 percent behind 2023, while it was 20 percent behind on the eve of the March 1 release of “Dune.” “The industry was feeling pretty glum right before ‘Dune Part 2’ opened, but they’ve made up a lot of ground,” said Dergarabedian. The summer is full of titles that are not guaranteed megahits but could break big, including Ryan Gosling’s “The Fall Guy” and the next installments of “Planet of the Apes,” “Mad Max,” “Inside Out” and “Deadpool.” That brings cause for optimism as the theatrical movie business seeks to hang on, though it’s highly unlikely it will surpass 2023, which saw “Barbie” surpass $1 billion globally with its release-date mate “Oppenheimer” not far behind. “‘Barbenheimer’” is kind of a once-in-a-lifetime event,” Dergarabedian said. Estimated ticket sales are for Friday through Sunday at U.S. and Canadian theaters, according to Comscore. Final domestic figures will be released Monday. 1. “Godzilla x Kong: The New Empire,” 80 million. 2. “Ghostbusters: Frozen Empire,” $15.7 million. 3. “Dune: Part Two,” $11.1 million. 4. “Kung Fu Panda 4,” $10.2. million. 5. “Immaculate,” $3.3 million. 6. “Arthur the King,” $2.4 million. 7. “Late Night With the Devil,” $2.2 million. 8. “Tillu Square,” $1.8 million. 9. “Crew,” $1.5 million. 10. “Imaginary,” $1.4 million.
Here Are The Top US Cities That Have The Most Millionaires 2024-03-31 17:59:00+00:00 - Loading... Loading... Investment-migration consultancy Henley & Partners recently unveiled its annual report on wealth distribution in the U.S., featuring a ranking of the country's wealthiest cities based on the number of millionaire residents. The top five cities on the list remained consistent with the previous year's report. However, Henley & Partners highlighted a "millionaire remix trend," with more affluent Americans and expatriates from abroad choosing cities like Austin and West Palm Beach as their preferred destinations. According to the report, the U.S. boasts the largest millionaire population globally, with approximately 5.5 million individuals residing there. Additionally, the country is home to nearly 10,000 individuals with a net worth exceeding $100 million and close to 800 billionaires. Also Read: What Does 'Wealth" Mean To Americans Today? Survey Yields Unexpected Responses New York City has 349,500 millionaires, followed by the Bay Area, which includes cities like San Francisco, San Jose, and Oakland, with approximately 305,700 millionaires. Notably, the Bay Area experienced an 82% increase in its millionaire population between 2013 and 2023. Los Angeles secured the third spot on the list, with around 212,100 millionaires, while Chicago and Houston rounded out the top five cities with 120,500 and 90,900 millionaires, respectively. Other notable cities with significant millionaire populations include Dallas (68,600 millionaires), Seattle (54,200 millionaires), Boston (42,900 millionaires), Miami (35,300 millionaires), Austin (32,700 millionaires), and Washington, DC (28,300 millionaires). Now Read: What Makes Us Happy In Life? This Is What A Harvard Study Says This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo: Shutterstock
6 battleground states will hold the key to the White House in 2024 2024-03-31 17:58:45+00:00 - With the 2024 presidential race in full swing, both parties are eyeing their pathways to victory. The 2024 election is set to be a rematch of the 2020 contest between Joe Biden and Donald Trump. A band of swing states in the Midwest and Sun Belt are at the top of the list for Biden and Trump. NEW LOOK 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 Over the past two decades, the road to the White House — once dominated by Florida and Ohio — has evolved. While bellwethers like Pennsylvania and Wisconsin remain a critical part of the calculus for Democratic and Republican presidential nominees in reaching the 270 electoral vote threshold for victory, the Sun Belt region has also grown in importance. For President Joe Biden and former President Donald Trump, who are set for a November rematch, every vote will be crucial in what is predicted to be a tight race. And the campaigns of both men will target a narrow band of six swing states to capture the White House: Arizona, Georgia, Michigan, Nevada, Pennsylvania, and Wisconsin. Democrats — who defied conventional political wisdom in 2022 by retaining their Senate majority and minimizing major losses in the House despite losing control of the lower chamber — are working hard to reelect Biden as he continues to face challenging economic headwinds and pushback over his handling of the Israel-Hamas war. Advertisement Republicans believe Biden will be a liability for Democrats. However, the GOP's stewardship of the House has not exactly worked out how they had hoped. They elected a speaker (Kevin McCarthy of California) who was subsequently removed and are now struggling to enact an agenda under a new speaker (Mike Johnson of Louisiana) with a razor-thin majority. The series of events created a "chaos" narrative around the party, which doesn't help at the top of the ticket. The GOP must also contend with the toxicity of Trump's political brand in the major swing states, especially among suburban voters and Independents who are likely to decide the election. Then-Democratic presidential nominee Joe Biden speaks at the Carpenters Local Union 1912 in Phoenix, Ariz., on October 8, 2020. AP Photo/Carolyn Kaster, File Arizona 2012 margin: Romney +9.0% 2016 margin: Trump +3.5% Advertisement 2020 margin: Biden +0.3% Between 1952 and 2016, Arizona backed the Republican presidential nominee in every election except for 1996 — when then-President Bill Clinton won the state over former Kansas Sen. Bob Dole by a little over 2 points. Long associated with Barry Goldwater, the conservative political icon who was the Republican presidential nominee in 1964, the Grand Canyon State for decades had a decidedly red lean in federal races. But as the population of Arizona has swelled, its political orientation has also shifted. Advertisement In 2012, former Massachusetts Gov. Mitt Romney easily won the state over then-President Barack Obama, but former Secretary of State Hillary Clinton whittled the GOP margin of victory down to just under 4 points in 2016. Biden, buoyed by gains among the state's burgeoning Latino population, narrowly won the state over Trump in 2020 by a little under 11,000 votes out of nearly 3.4 million ballots. Democrats remain encouraged by their performance in Arizona in the 2022 midterms. Not only did Secretary of State Katie Hobbs defeat MAGA-infused Kari Lake in the gubernatorial race, but Sen. Mark Kelly won a full six-year term over Republican Blake Masters. Adrian Fontes was also elected to succeed Hobbs over state Rep. Mark Finchem, who repeatedly questioned the 2020 presidential election results. Advertisement Biden must recreate a win in a state where Republicans have long been the dominant party. And Lake is now running in the state's marquee Senate race, where she's poised to face Democratic Rep. Ruben Gallego should both candidates win their respective party primaries in August. Former President Donald Trump watches election returns and speaks with guests at his Mar-a-Lago club in Palm Beach, Fla., on November 8, 2022. AP Photo/Andrew Harnik Georgia 2012 margin: Romney +7.8% 2016 margin: Trump +5.1% 2020 margin: Biden +0.2% Advertisement For decades, Republicans could easily depend on the Peach State's electoral votes falling into their column. No more. While GOP politicians were enjoying double-digit wins in statewide races, former Democratic state House Minority Leader Stacey Abrams — who saw the possibility of a more politically-competitive Georgia — worked behind the scenes to build a turnout organization that could rival that of the Republican Party. In 2018, Abrams came within 55,000 votes of winning that year's gubernatorial election. Two years later, Biden won the state by roughly 12,000 votes over Trump, followed by the dual 2021 runoff victories of Sens. Raphael Warnock and Jon Ossoff over Republicans Kelly Loeffler and David Perdue, respectively. Advertisement The exponential growth of the Atlanta suburbs, driven by new Black, Asian, and Latino residents, has given the state a purple veneer — but the 2022 midterms also showed the limitations of Democratic gains. Warnock won a full six-year term in a December runoff after fending off a challenge from Republican Herschel Walker, becoming the only Democrat to win statewide in the midterms. But Walker, aided by robust support in the state's rural counties, still won 48.6% of the vote in the runoff, despite a candidacy that some Republicans saw as deeply flawed. And Republicans were victorious in every other statewide election, led by Gov. Brian Kemp, who defeated Abrams in a rematch of their 2018 contest by nearly 300,000 votes. Translation: Georgia will continue to be on everyone's mind this year. Advertisement The phrase "Count Every Vote" is displayed outside the Michigan State Capitol in Lansing, Mich., on November 6, 2020. AP Photo/David Goldman, File Michigan 2012 margin: Obama +9.5% 2016 margin: Trump +0.2% 2020 margin: Biden +2.8% Related stories Michigan has long been a critical part of the electoral calculus for Democrats, as they carried the state in every presidential race from 1992 to 2012 by appealing to voters in Detroit and its middle- and upper-middle-class suburbs, while also enjoying support among union households and moderates in the exurban and rural stretches of the state. Advertisement But the party was stunned by Trump's narrow 2016 win in the longtime blue state, as the Republican made significant inroads with the base of white working-class voters who had been slowly drifting away from Democrats cycle after cycle. In 2020, the party put a premium on flipping the Wolverine State back into its column, which Biden did, winning by nearly 3 points over Trump. And in November, Democrats in the state boasted some of their party's most impressive victories in the entire country. Gov. Gretchen Whitmer won reelection by nearly 11 points, while state Attorney General Dana Nessel and Secretary of State Jocelyn Benson easily won their races. The party also flipped control of both houses of the Michigan legislature, and a referendum enshrining reproductive rights into the state Constitution was approved by voters. Advertisement Still, despite the Democratic wins, the state's 15 electoral votes will be a sought-after prize for both parties in 2024. A major caveat: Biden continues to face enormous pushback from the state's Arab American community over his handling of the conflict in Gaza, which led more than 100,000 Michiganders to vote "uncommitted" instead of selecting the president in the March Democratic primary. Then-Nevada GOP gubernatorial nominee Joe Lombardo, right, campaigns with Trump at a rally in Minden, Nev., on October 8, 2022. AP Photo/José Luis Villegas, Pool Nevada 2012 margin: Obama +6.7% 2016 margin: Clinton +2.4% Advertisement 2020 margin: Biden +2.4% Democrats have been victorious on the presidential level in the Silver State since 2008, when Obama won by nearly 13 points, followed by his victory of nearly 7 points in 2012. But Clinton and Biden both won the state by a little over 2 points, as Republicans have seen the fast-growing Western state as one that can be flipped into their column, especially if they can make inroads in Democratic-heavy Clark County. In the 2022 midterms, Republicans got a huge boost in the state when their gubernatorial nominee, Clark County Sheriff Joe Lombardo, defeated incumbent Democratic Gov. Steve Sisolak. Advertisement But Democrats also notched a major win by reelecting Sen. Catherine Cortez Masto to a second term over former state Attorney General Adam Laxalt, who had been strongly backed by Trump. And after state Democrats approved congressional maps that some in the party saw as especially risky in a GOP wave year, all three of the party's House incumbents — Dina Titus, Steven Horsford, and Susie Lee — won their respective races. The ticket-splitting in the midterms once again showed that Nevada will be hot target for both parties in 2024, especially as the economy remains at the forefront of voters' minds. Biden, right, and former President Barack Obama, center left, take part in a campaign rally for then-Pennsylvania Democratic gubernatorial candidate Josh Shapiro, center right, and then-Democratic Senate nominee John Fetterman in Philadelphia, Pa., on November 5, 2022. AP Photo/Matt Rourke Pennsylvania 2012 margin: Obama +5.4% 2016 margin: Trump +0.7% Advertisement 2020 margin: Biden +1.2% Biden's hometown of Scranton is dear to his heart so Pennsylvania was always going to be a key state for the party in 2024. Democrats carried Pennsylvania in every presidential race from 1992 to 2012, until Trump narrowly edged out Clinton in 2016, gaining support among the white working-class voters who populate the exurban and rural communities across the state. But Biden clawed back in 2020, boosted by strong returns in Philadelphia and its affluent suburbs, as well as a robust vote in Allegheny County, which includes Pittsburgh. Advertisement And in 2022, Democrats had a huge year in the state, electing Lt. Gov. John Fetterman to the Senate to succeed retiring GOP Sen. Pat Toomey, while also electing state Attorney General Josh Shapiro in a landslide to succeed term-limited Democratic Gov. Tom Wolf. The party also regained control the state House of Representatives, winning back a majority they lost in the 2010 midterms. Despite the GOP losses, the party — keen on winning back some suburban voters and improving their margins in the state's rural outposts — will again make a major play for Pennsylvania this fall. Wisconsin Gov. Tony Evers addresses a joint session of the Legislature in the Assembly chambers at the state Capitol in Madison, Wis., on February 15, 2022. AP Photo/Andy Manis, File Wisconsin 2012 margin: Obama +6.9% Advertisement 2016 margin: Trump +0.8% 2020 margin: Biden +0.6% Wisconsin is one of the most politically-divided states in the country. Democratic presidential nominees Al Gore and John Kerry eked out statewide wins in 2000 and 2004, respectively, and Obama won the state easily in 2008 and 2012. Advertisement But Trump flipped Wisconsin to the GOP in 2016, the first time it had supported a Republican presidential nominee since 1984. Democrats, stunned by the loss, regrouped and elected Tony Evers as governor in 2018 — knocking out onetime GOP star Scott Walker — while also reelecting Sen. Tammy Baldwin to a second term. Biden went on to narrowly win the state over Trump in 2020. And in November 2022, Evers was reelected to a second term over Republican businessman Tim Michels, while GOP Sen. Ron Johnson narrowly defeated then-Lt. Gov. Mandela Barnes to earn a third term in the upper chamber. Advertisement Both parties are eyeing the Badger State — and looking to turn out their respective bases — in what will be another competitive race on the presidential level.
What's open and closed for Easter? See which stores and restaurants are operating today. 2024-03-31 17:45:00+00:00 - Where do Easter traditions come from? Good Question. Where do Easter traditions come from? Good Question. 03:06 Millions of Americans celebrate Easter with family and friends this Sunday, which could require a last-minute run for treats before the egg hunt begins. Luckily, many retailers and restaurants will be open on March 31. Here's a list of what is and isn't open on Easter. What places are open on Easter Sunday 2024? Albertson Barnes & Noble Bass Pro Shops Bath & Body Works Big Lots Capital Grille Cabela's CVS Dollar General Dollar Tree DSW Family Dollar Half Price Books Home Depot Ikea Kirkland's Home Kroger Marshall Grain Old Navy Petco Rally House Ross Sephora Sprouts Staples Tractor Supply Company Trader Joe's Ulta Walgreens Walmart Wegmans Whole Foods Restaurants and fast-food chains open on Easter Applebee's Benihana Bob Evans Bojangles Boston Market Buffalo Wild Wings Capital Grille Carrabba's Chili's Cheesecake Factory Cracker Barrel Denny's Dunkin' Golden Corral IHOP KFC Longhorn Steakhouse McDonald's Olive Garden Outback Steakhouse PF Chang's Red Lobster Ruth's Chris Seasons 52 Sonic Starbucks Texas Roadhouse Waffle House Wendy's Whataburger White Castle Places with special hours of operation on Easter Sunday 2024 Some stores or restaurants may special hours of operation, depending on their location — including Burger King, Domino's, Firehouse Subs, Jersey Mike's, Jack in the Box, Panda Express, Panera, Popeyes, Shake Shack and Subway. Stop & Shop's grocery section will be open but the pharmacy will be closed. Staples will be open from noon to 5 p.m., local time. What places are closed on Easter Sunday 2024? Aldi Apple Belk Best Buy Big Y Bloomingdale's Brookshires Burlington Calloway's Nursery Costco Container Store Dick's Sporting Goods Five Below Goodwill H&M H-E-B Grocery Hobby Lobby Hollywood Feed HomeGoods Homesense Honey Baked Ham Company JCPenney Kohl's Macy's Market Basket Marshalls Michaels Nordstrom & Nordstrom Rack Office Depot Publix Sam's Club Sierra Target TJ Maxx Restaurants and fast-food chains closed on Easter Chik-fil-A Chipotle In-N-Out Raising Cane's Correction: This story has been updated to note that Chik-fil-A is closed on Easter.
FOMO may be one of the things driving the super rich to invest tens of billions in AI 2024-03-31 17:31:51+00:00 - Investors are dumping money into AI as they grapple with the fear of missing out. Amazon may invest up to $4 billion in Anthropic, an AI rival of OpenAI. Despite the hype and cash influx, AI companies face their share of challenges. NEW LOOK 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 The fear of missing out is real — even among the mega-rich. Wealthy investors are jumping on the AI train because they don't want to miss out on the next big thing. Amazon recently said it would invest as much as $4 billion in Anthropic, an AI rival of the well-known OpenAI. In September, Amazon invested $1.25 billion and then more than doubled that with its latest $2.75 billion infusion. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .
Crews at Baltimore bridge collapse continue meticulous work of removing twisted steel and concrete 2024-03-31 17:00:31+00:00 - BALTIMORE (AP) — As divers assisted crews with the complicated and meticulous operation of removing the steel and concrete from the fallen Francis Scott Key Bridge in Baltimore, some near the site took time on Easter Sunday to reflect on the six workers presumed to have plunged to their deaths. As cranes periodically swung into place and workers measured and cut the steel to prepare to lift sections of twisted steel, Rev. Ako Walker held a Mass in Spanish at Sacred Heart of Jesus, about 5 miles (8 kilometers) up the Patapsco River from the collapse. “Yes we can rebuild a bridge, but we have to look at the way in which migrant workers are treated and how best we can improve their situation as they come to the United States of America,” Walker said of the men who were from Mexico, Guatemala, Honduras and El Salvador and were patching potholes. Dive teams were in the river Sunday surveying parts of the bridge underwater and checking on the ship to ensure it can be safely floated away once the wreckage is lifted. Workers in lifts used torches earlier to cut parts of the twisted steel superstructure above water. The bridge fell early Tuesday as the crew of the cargo ship Dali lost power and control. They called in a mayday, which allowed just enough time for police to stop vehicles from getting on the bridge, but not enough time to get a crew of eight workers off the structure. Two workers survived, two bodies were found in a submerged pickup and four more men are presumed dead. Weather conditions and the tangled debris underwater have made it too dangerous for divers to search for their bodies. Each part of the bridge removed from the water will be lifted onto a barge and floated downstream to the Tradepoint Atlantic logistics center, where it will be inspected, Coast Guard Rear Adm. Shannon Gilreath said. Everything the salvage crews do affects what happens next and ultimately how long it will take to remove all the debris and reopen the ship channel and the blocked Port of Baltimore, Maryland Gov. Wes Moore said. It can also alter the course of the National Transportation Safety Board investigation, which Moore said is important to ensure this doesn’t happen again. “We need to have answers on what happened. We need to know who should be accountable for this. And we need to make sure we’re holding them accountable,” Moore said Sunday on CNN. In this photo provided by the U.S. Coast Guard, a Coast Guard Station Crisfield 29-foot response boat-small crew observes as demolition crews cut the top portion of the north side of the collapsed Francis Scott Key Bridge into smaller sections for safe removal by crane in the Patapsco River, in Baltimore, Saturday, March 30, 2024. Salvage teams used an exothermic cutting torch to systematically separate sections of the steel bridge, which will be taken to a disposal site. (Petty Officer 3rd Class Kimberly Reaves/U.S. Coast Guard via AP) The crew of the Dali, which is as long as the Eiffel Tower is tall, remains onboard the ship. The vessel is tangled in 3,000 to 4,000 tons of debris. Most of its containers remain intact, but some were torn open or knocked away by the falling debris. The Dali is managed by Synergy Marine Group and owned by Grace Ocean Private Ltd. Danish shipping giant Maersk charted Dali, which was on its way out of port when it hit the bridge’s support column. Along with clearing the shipping channel to reopen the port, officials are trying to figure out how to rebuild the major bridge, which was completed in 1977 and carried Interstate 695 around southeast Baltimore and was a vital link to the city’s centuries of maritime culture. It took five years to build the original bridge. President Joe Biden’s administration has promised to pay the full cost to rebuild and state and federal transportation officials said they will work as quickly as possible. But exactly how long the new bridge will take can’t be figured out now. Engineers haven’t been able to assess the condition of the ramps and smaller bridges leading to the collapsed structure to get the full scope of what must be done. A Coast Guard coastal buoy tender passes by as wreckage of the Francis Scott Key Bridge rests on the container ship Dali, Saturday, March 30, 2024, in Baltimore. (AP Photo/Julia Nikhinson) Wreckage of the Francis Scott Key Bridge rests on the container ship Dali, Saturday, March 30, 2024, in Baltimore, Md. (AP Photo/Julia Nikhinson) Congress is expected to consider aid packages to help people who lose jobs or businesses because of the prolonged closure of the Port of Baltimore. The port handles more cars and farm equipment than any other U.S. facility. “This matters to folks in rural North Carolina, in Kansas, and Iowa. This matters to the global economy. And it should not be something that has anything or any conversation around party. We are talking about an American tragedy to an American city,” Baltimore Mayor Brandon Scott told CBS’ “Face the Nation” on Sunday. On Monday the Small Business Administration will open a center in Dundalk, Maryland, to help small businesses get loans to help them with losses caused by the disruption of the bridge collapse. The workers weren’t parishioners at Sacred Heart of Jesus, whose pews were packed Sunday for mass. But its pastor, Walker, reached out to the families because as he said the Latino community in Baltimore is large in number but closely connected. This satellite image provided by Planet Labs shows the container ship Dali lodged against the wreckage of the Francis Scott Key Bridge, Friday, March 29, 2024, in Baltimore, Md. (Planet Labs via AP) He said in an interview before mass that they were good men working not just for their families in the U.S. but also for relatives in their countries. Walker hopes their stories encourage people to embrace migrant workers who want to improve their lives and grow their communities. “We have to be bridges for one another even in this most difficult situations. Our lives must be small bridges of mercy of hope of togetherness and of building communities,” Walker said. ___ Collins reported from Columbia, South Carolina. Associated Press writers Sarah Brumfield in Washington, D.C.; Kristin M. Hall in Nashville, Tennessee; Adrian Sainz in Memphis, Tennessee; and Lisa Baumann in Bellingham, Washington, contributed.
It's not just inner-ring suburbs. Trump has also underperformed in key exurban counties during the GOP primaries. 2024-03-31 16:56:27+00:00 - Former President Donald Trump romped in virtually every GOP primary contest this year. But below the surface, his numbers in some key exurban areas could give him headaches in the fall. While exurbs generally lean toward the GOP, a sizable number of ex-Haley voters could go for Biden. NEW LOOK 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 Throughout his time in the White House, Donald Trump presided over the GOP's collapse in suburban communities across the United States, especially in affluent areas filled with college-educated voters. In the 2016 presidential election, Trump lost traditional GOP strongholds like Orange County, California, and Cobb County, Georgia, a preview of Democratic gains in the 2018 midterms and the 2020 elections. And this year, Trump underperformed in many inner-ring suburban counties compared to his statewide vote totals. This pattern emerged even as Trump was already heavily favored to secure the GOP presidential nomination. And Trump now has another electoral math issue he'll have to tackle: his underperformance in key exurban counties. Advertisement Politico examined 1,000 counties that voted in the Republican presidential primaries this year, revealing the extent voters preferred another GOP standard-bearer. Unlike most inner-ring counties across the county, many exurban counties still tilt toward the Republican Party and often elect GOP lawmakers at the local and congressional levels. And unlike their more urban counterparts, exurban counties generally boast a less-concentrated number of voters with college degrees, a demographic that favors Democrats. So many exurban residents often want to back Republican candidates but simply don't care for Trump. "You hear a lot of moderate Republicans now who say that they'll never vote for Trump again," Parker Fairbairn, the Republican Party chairman in Emmet County, Michigan, told Politico. Related stories In the 2016 general election, Trump won Emmet County — in the northern reaches of the Lower Peninsula — by 19 points. Four years later, he won the county by 11 points. Advertisement In the 2024 Michigan GOP primary, Trump won Emmet by 34 points, but the figure was below his nearly 42-point statewide victory. Despite her statewide loss, former UN ambassador Nikki Haley — Trump's chief primary opponent until she exited the race earlier this month — still won 30 percent of the vote in Emmet. A similar scenario unfolded in the North Carolina primary, where Trump won statewide by nearly 51 points. But in the GOP-leaning Charlotte exurbs of Cabarrus and Union counties, Haley picked up roughly a quarter of the vote in each locality. Will some of these voters eventually support President Joe Biden in the fall? Advertisement Republicans are banking that many voters will eventually revert to their old ways and pull the lever for Trump over economic concerns. Biden has struggled to convey his economic wins in a way that has resonated with voters. But some Haley supporters are going all-out in their quest to reelect Biden, as they seek to reel in voters who remain leery of Trump. Robert Schwartz, the senior advisor for Haley Voters for Biden, a one-time pro-Haley super PAC, is one of those backers. "There's still a lot of raw feelings about how Nikki Haley and her family were treated, and about the way that MAGA and Donald Trump are treating Nikki Haley supporters and the whole 'permanently barred from MAGA,'" he told Politico. "We want to lock in that feeling of resentment and disgust toward the way Trump treated them."
Tenants are trapped in a collapsing housing system 2024-03-31 16:49:00+00:00 - Thank you for John Harris’s excellent call for politicians to act on the housing crisis (Neglected, derided and exploited more than ever: why won’t the UK protect those who rent a home?, 24 March). The Social Housing Action Campaign’s perspective is that we are no longer in a housing crisis. It is system collapse. Tenants and residents in social housing are suffering just as those in the private rented sector. Last year, the vast majority of housing associations utilised the maximum scope allowed by government and increased their rents by 7%. These inflated rents will rise again this year by 7.7%. Shared owners fare even worse. This tenure is long recognised as combining the worst of both worlds, having to pay rents and mortgages but enduring the full cost of bills, maintenance and repairs for their homes no matter how small the proportion they actually “own”. On top of this, some renters and the majority of leaseholders and shared owners pay service charges. There is no cap and barely any regulation of these charges. So far, none of the mainstream political parties has offered any solution that addresses the underlying causes of the housing crisis. The challenge to all parties is to pledge significant investment in public housing and greater enforceable protection for tenants and residents. Suzanne Muna Secretary, the Social Housing Action Campaign The private rental sector is yet another manifestation of our dysfunctional political system. What in better times would have been regarded as a national emergency is now ignored. Renters, despite their large numbers, have no voice in parliament, whereas landlords do. The latter through the Conservative party, which not only has landlords in parliament, but is in receipt of substantial donations from property companies. Tenants have no substantial funds to buy political support. Even the Labour party, which once would have been seen as the renters’ party, is largely indifferent to their plight, as demonstrated by Keir Starmer’s opposition to Sadiq Khan’s proposed rent controls. Four million children living in poverty, mostly in private rental properties, does not move MPs. There is consequently no hope that tenants and other underrepresented groups will have their voice heard in parliament. Derrick Joad Leeds Following John Harris’s article about huge rent increases by private landlords, the tenants in housing associations are also facing similar levels of rent increases. The Peabody homes on our estate in Tower Hamlets and Hackney are also expecting rent rises of up to 9%. This will really hit the pensioners, some of whom have lived here for decades, and the many key workers who make up our lovely community here. Rosemary Walker London Skyrocketing private rents reveal the utter dishonesty of the government’s measure of inflation. Rishi Sunak trumpets falling inflation as his success story but his measure of inflation – the consumer prices index (CPI) – does not include housing costs. Private rents nationally are rising at 7.8%. CPI is 3.8%. If rental costs were factored into inflation as they should be, they would puncture a huge hole in the claim of the government that it has a plan for economic recovery. Bob Colenutt Oxford
Ex-Trump Advisor John Bolton Plays Down Former President's Capacity To Become A Dictator In Scathing Interview: 'He Hasn't Got The Brains' 2024-03-31 16:11:00+00:00 - Loading... Loading... Former National Security Advisor John Bolton recently commented on former President Donald Trump's potential to be a dictator, asserting that the ex-president lacks the intellect for such a role. In an interview with French newspaper Le Figaro published on Thursday, Bolton expressed skepticism about Trump's capacity to lead as a dictator, citing Trump's background as a property developer. “He hasn’t got the brains! He’s a property developer, for God’s sake!” Bolton said. Trump's refusal to accept the outcome of the 2020 election and his subsequent attempts to overturn the results have drawn criticism. Bolton, a former-Trump-ally-turned-critic, believes that Trump's efforts to challenge the election outcome ultimately failed due to the resilience of American institutions. “The American Constitution and its institutions are strong. Trump attacked them by trying to call into question the result of the elections, and he failed. If he wasn’t able to steal the election when he was in the Oval Office, it’s not going to happen in November from Mar-a-Lago. The Constitution is very clear, there will be no third term,” Bolton said. Also Read: Marjorie Taylor Greene Claims She Has Proof That Votes For Donald Trump In 2020 Were 'Lost In The Mail': 'I Think He'll Be Vindicated Easily' Addressing concerns about Trump's aspirations, Bolton dismissed the notion of the former president seeking dictatorial power, highlighting Trump's lack of intellect. Bolton also expressed apprehension about the potential consequences of Trump's reelection, particularly their effect on international alliances such as NATO. “Trump, when he has an idea, comes back to it again and again, then gets distracted, forgets, but eventually comes back to it and acts on it. That’s why leaving NATO is a real possibility. A lot of people think it’s just a negotiating tool, but I don’t think so,” Bolton said during the interview, which was translated by The Telegraph. Now Read: Millions Of Americans Are Considering A Mass Exodus If Donald Trump Wins Again, Says Report This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Conservatives shell long-standing White House Easter egg contest 2024-03-31 16:05:00+00:00 - Several conservative outlets did not "yolk" around this weekend when covering the White House's annual Easter celebrations, accusing it of banning religious themes from the annual children's egg decorating contest — even though that guidance predated the Biden administration, according to the first lady's office. A flyer circulated by the adjutants general of the National Guard inviting children of National Guard members to submit Easter eggs to the White House contest is the source of the controversy, with outlets like Fox News and The Daily Caller writing stories saying the administration is banning religious themes in this year's contest. Indeed, this year's flyer does say that the decorated Easter egg submissions "must not include any questionable content, religious symbols, overtly religious themes, or partisan political statements." But the White House and the American Egg Board have pushed back on the suggestion that the restrictions are new, saying that the rules banning religious symbols have been in place for years. Emily Metz, president and CEO of the American Egg Board, a group that supports the White House Egg Roll, said in a statement, "The American Egg Board has been a supporter of the White House Easter Egg Roll for over 45 years and the guideline language referenced in recent news reports has consistently applied to the board since its founding, across administrations." Similarly, the White House emphasized that the guidelines banning religious themes from the eggs have been in place for decades and aren't the result of a new Biden administration policy. "The American Egg Board flyer’s standard non-discrimination language requesting artwork has been used for the last 45 years, across all Dem & Republican Admins—for all WH Easter Egg Rolls —incl previous Administration’s," the first lady's communications director, Elizabeth Alexander, said in a post on X. And White House deputy press secretary Andrew Bates said it was "unsurprising" that some "are seeking to divide and weaken our country with cruel, hateful, and dishonest rhetoric." "President Biden will never abuse his faith for political purposes or for profit," Bates added, noting that Biden is "a Christian who celebrates Easter with family." The Biden administration has also been targeted this Easter holiday for a declaration recognizing Sunday as Transgender Day of Visibility. President Joe Biden did indeed issue a proclamation acknowledging Transgender Day of Visibility — along with proclamations declaring 11 other holidays, including Cesar Chavez Day and Arab American Heritage Month. March 31 has been Transgender Day of Visibility every year since 2010, per GLAAD. This year, Easter falls on March 31.
Bank of England investigating claim Metro Bank put customers’ data at risk 2024-03-31 15:41:00+00:00 - The Bank of England is examining claims that the high street lender Metro Bank put customers’ data at risk by allegedly misusing software at the centre of a long-running legal dispute. Last month the central bank’s whistleblowing team was contacted by a person raising concerns about the integrity and security of software used to connect Metro Bank’s in-branch coin-counters – known as Magic Money Machines – to customer accounts. The communications, seen by the Guardian, claimed that the original Magic Money Machine software “was not made to be used on an online banking system” but had been built out by the bank in a way that allowed cash to be deposited directly into customer accounts, potentially creating weaknesses in the system. The whistleblower also claimed that the source code for the machines may have been shared by Metro with other parties in a way that left customer accounts “susceptible to compromise”, suggesting that cash could be accessed by potential hackers and bad actors. Together, those issues potentially presented a “significant security risk to Metro Bank UK’s network”, the email said. The whistleblowing team in the Bank of England is now reviewing the allegations and has shared the communications with the City watchdog, the Financial Conduct Authority. The Bank and the FCA declined to comment. Metro Bank did not directly respond to the allegations. Metro Bank, which has about 2.7 million customers and 76 branches, has not reported any incidents or complaints of security and data breaches to date. The lender has been in a long-running legal dispute regarding its coin-counting machines, which are primarily designed to allow children to add up small change and which feature lively animations, including of its mascot, Metro Man. A US company, Arkeyo, provided the software to Metro for six years and claims that the lender later leaked its source code to a rival firm. It has been pursuing Metro through US courts since 2017 and filed a fresh lawsuit in the UK in 2022 in an attempt to sue the bank for £24m. Arkeyo claims that the lender infringed its copyright and misappropriated trade secrets relating to money counting machines. High court documents outline how Metro and Arkeyo worked together between 2010 and 2016 and how the relationship broke down over the following year. Arkeyo claims Metro then instructed a Chicago-based company called Saggezza to reverse-engineer and copy Arkeyo’s software. Saggezza has denied wrongdoing. Metro said it could not comment on ongoing legal proceedings, but it addressed the case in its latest annual report. “We believe Arkeyo LLC’s claims are without merit and are vigorously defending the claim,” it said. skip past newsletter promotion Sign up to Business Today Free daily newsletter Get set for the working day – we'll point you to all the business news and analysis you need every morning Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion The Bank of England complaint, and ongoing legal dispute, comes during a challenging period for Metro Bank, which rushed to secure a £925m deal in October in order to avoid a potential breakup or takeover. The bank was co-founded by the US billionaire Vernon Hill and became the UK’s first new high street lender in 150 years when it launched in 2010. Metro grew significantly in the UK, taking on established high street rivals by offering more convenient opening hours and dog-friendly policies. In 2019 an admission that it had made an accounting mistake led to the biggest single-day collapse in a UK bank’s share price since 2008. The mishap shook confidence in the bank and was soon followed by the departures of Hill and its chief executive, Craig Donaldson. Last year Metro Bank was thrown into further turmoil after failing to convince regulators to loosen capital rules. The regulator’s decision left Metro with a shortfall on its balance sheet, causing market panic, until it secured the emergency deal that left it 53%-owned by the Colombian billionaire Jaime Gilinski Bacal. Earlier this month Metro said it was cutting 1,000 jobs and ending its seven-day branch model, after nearly tripling the size of its cost-cutting plan following the rescue deal.
An Israeli airstrike hits a Gaza hospital tent camp, killing 2 Palestinians and hurting journalists 2024-03-31 15:23:00+00:00 - DEIR AL-BALAH, Gaza Strip — An Israeli airstrike hit a tent camp in the courtyard of a crowded hospital in central Gaza on Sunday, killing two Palestinians and wounding another 15, including journalists working nearby. An Associated Press reporter filmed the strike and aftermath at the Al-Aqsa Martyrs Hospital in Deir al-Balah, where thousands of people have sheltered after fleeing their homes elsewhere in the war-ravaged territory. People including women and children scattered and cried out. The Israeli military said it struck a command center of the Islamic Jihad militant group and claimed the hospital’s functioning was not affected. Tens of thousands of people have sought shelter in Gaza’s hospitals since the start of the war nearly six months ago, viewing them as relatively safe from airstrikes. Israel accuses Hamas and other militants of operating in and around medical facilities, and troops have raided a number of hospitals. Israeli troops have been raiding Shifa Hospital, Gaza’s largest, for nearly two weeks and say they have fought heavy battles with militants in and around the medical compound. The military says it has killed scores of fighters, including senior Hamas operatives. It said Sunday it had found numerous weapons hidden there. Palestinian families who fled from the area, including many who had been displaced earlier in the war, say they were ordered to march south by Israeli soldiers after days of heavy fighting. Only a third of Gaza’s hospitals are even partially functioning, while Israeli strikes kill and wound scores of people every day. Doctors say they are often forced to treat patients on hospital floors because all the beds are taken, and to operate without anesthetic and other crucial medical supplies. Those wounded in Sunday’s strike lay on the Al-Aqsa Martyrs Hospital floor and gasped while being treated, one clutching at the underside of a stretcher that held someone else. An international team of doctors who recently visited the hospital said they were horrified by the war’s gruesome impact on Palestinian children. The World Health Organization director-general, Tedros Adhanom Ghebreyesus, says around 9,000 patients urgently need to be evacuated abroad for lifesaving care. The war began when Hamas-led militants stormed across the border on Oct. 7 and rampaged across southern Israel, killing some 1,200 people and taking around 250 hostages back to Gaza. Over 100 captives were freed last year in exchange for the release of Palestinians imprisoned by Israel. Israel responded to the assault with one of the deadliest and most destructive military campaigns in recent history, one that has driven around 80% of Gaza’s population of 2.3 million from their homes. More than half of the population is now sheltering in the southern city of Rafah, where Israel plans a ground offensive despite warnings of catastrophe from allies and humanitarian groups. The United Nations and partners have warned that famine could occur in devastated, largely isolated northern Gaza as early as this month. Humanitarian officials say deliveries by sea and air are not enough and that Israel must allow far more aid by road. Egypt has said thousands of trucks are waiting. The top U.N. court has ordered Israel to open more land crossings and take other measures to address the crisis. The head of the World Food Program, Cindy McCain, told CBS on Sunday that WFP was able to get just nine trucks into Gaza on Saturday. “That’s nothing. We just cannot continue this way,” she said, calling for unrestricted access. “People are going to die otherwise, and they already are dying.” Gaza’s Health Ministry said Sunday that at least 32,782 Palestinians have been killed since the start of the war, including 77 whose bodies were brought to hospitals over the last 24 hours. The ministry’s count does not differentiate between civilians and fighters, but it has said that women and children make up around two-thirds of those killed. Israel says over one-third of the dead are militants, though it has not provided evidence to support that, and it blames Hamas for civilian casualties because the group operates in residential areas. Gaza health officials have repeatedly denied Israeli claims that militants operate in hospitals. The United States, Qatar and Egypt have been trying to broker another cease-fire and hostage release since January. The cease-fire talks resumed in Cairo on Sunday, with little expectation of any breakthrough. Hamas is demanding that any such agreement lead to an end to the war and the withdrawal of all Israeli forces. Prime Minister Benjamin Netanyahu has rejected those demands and says Israel will keep fighting until it has destroyed Hamas’ military and governing capabilities. But he is under growing pressure to reach a deal from families of the hostages, some of whom have joined mass demonstrations calling for early elections to replace him. On Saturday night, families of hostages said weekly protests would take to the streets of Israel from now on.
36-year-old brought in $77,000 in passive income from Etsy in 2023—she spends '5-10 minutes' per day on it 2024-03-31 15:01:00+00:00 - After years of building out her successful Etsy store, Rachel Jimenez is now focusing her efforts on other projects. The store features printables like Elf on a Shelf games for Christmas and has made six figures in passive income in past years. She founded it in 2019. Etsy brought in $77,000 in passive income in 2023, with Jimenez working just "five-to-ten minutes" per day or so checking messages, she says. That, plus some of her and her husband's other moneymaking efforts made her realize she could start being pickier about her projects. In considering her "now what," Jimenez realized she wanted to focus on projects that could both "have a bigger impact and help people," she says, like her blog and newsletter. Here's how the 36-year-old is sharing her wealth of knowledge and building out her content, including how much each venture brought in last year, pre-tax. 'Optimize Your Life Academy' brought in $12,250 In early 2023, Jimenez released a virtual course about positive psychology and its ability to bring about success, "Optimize Your Life Academy." That brought in about $12,250 in 2023 altogether. She publicizes it through various online efforts like email blasts and a free webinar she released. "I still have that funnel setup," she says. "And so it's still bringing leads in and people are still buying the course." She charges $297 for it. DON'T MISS: The ultimate guide to earning passive income online In September 2023, Jimenez also launched another course, "Passive Income 101," about what passive income is, how to start a passive income business and how to invest. Thus far, she's only let the people receiving her newsletter know about it. She charges $97 for it and made about $900 from it last year. Affiliate links in her blog brought in $24,000 Jimenez started her blog in 2019 and her weekly newsletter in October 2021. Both cover topics such as passive income, personal finance and positive psychology. "I will say my blog, some weeks I miss," she says about trying to keep up her posting routine, "but my newsletter I am proud to say I have not missed a week." The newsletter is free and comes out every Thursday. It now boasts more than 8,000 subscribers, she says. Altogether, the two take about four hours to write per week. The blog makes money through affiliate links and brought in about $24,000 last year. The newsletter makes money through ads and brought in more than $1,500. Jimenez is currently working on sharpening her marketing skills to grow her audience in both. "Pinterest has always been a black box for me," she says, so she's currently taking a course about "how to use that to drive more traffic to blogs." Teaching brought in about $10,450
Walmart, Chipotle are splitting the wealth of a record stock market in a way they haven't in decades 2024-03-31 14:56:00+00:00 - Certainly, having a lower share price broadens ownership opportunities for employees to buy company stock, but it remains to be seen whether more rank-and-file workers will take advantage of company stock ownership opportunities. But it may not be so simple, according to benefits consultants. For Chipotle, it's the first stock split in the company's 30-year history, and its announcement echoed Walmart's. Both are hoping, through the availability of an employee stock purchase plan and financial education, they'll get more workers to invest. Walmart's 3-for-1-stock split, completed on Feb. 26, was its first in over 20 years. In its formal announcement, the company said that in addition to an "ongoing review of optimal trading and spread levels" the company made the move based on a "desire for its associates to feel that purchasing shares is easily within reach." In a rapidly rising stock market, splitting shares is not a surprise. Before its split, Walmart shares were near an all-time high around $170. Chipotle, even further out on the market chart, has shares nearing $3,000 — its stock split is to be effective June 26. Chipotle and Walmart have been among the movers in the universe of big U.S. corporations when it comes to raising pay and offering debt-free college tuition assistance to large, low-wage workforces. Now, they're sharing another tactic the companies say will have a long-term payoff for employees: publicly traded stock splits. "The idea that all of these employees are going to rush out to the market and start buying equity frankly doesn't hold a lot of water," said Michael Kestenbaum, managing director of Gallagher's executive compensation practice. Though a stock split can make shares more affordable, there are other factors at play, including how heavily a company promotes its ESPP, availability and employee usage of employer-sponsored financial education, and competing financial interests among lower-level employees, many of whom may be struggling to make ends meet. Both companies say the split is being combined with other efforts to encourage employee stock ownership, including access to discounted stock through an ESPP and financial education offerings. ESPP versus fractional shares Even without a stock split, employees could have already purchased shares of their company, or at least fractional shares, through a brokerage account. But in some ways, ESPPs are preferable since the money comes directly out of an employee's paycheck and there's often a sizable employee discount. Walmart's associate stock purchase plan, for example, allows eligible associates to buy stock through payroll deductions and provides a 15% company match on the first $1,800 each year. Chipotle, meanwhile, offers a quarterly opportunity to buy its common stock at a price of 92.5% of the lower of the fair market value on the first and last trading days of each offering period, according to a regulatory filing. What's more, owning fractional shares has downsides. For example, whole shares are generally easy to transfer if you switch brokerages, whereas fractional shares may have to be sold in order to transfer the cash value. Company stock and financial education Splitting a stock and having a generous ESPP can only go so far when it comes to encouraging employees to buy the company stock. Companies that are serious about encouraging employee stock ownership also need to throw their weight behind financial education, according to benefits consultants and educators. Companies that make the ESPP part of their culture, like many of the West Coast tech companies, see participation rates well over 50%, so it is possible, Dan Kapinos, partner and global practice leader of corporate governance and equity services at Aon, wrote in an email. Prior to its IPO, Google provided significant education to employees related to stock options and financial literacy, said Clemens Kownatzki, assistant professor of finance at Pepperdine Graziadio Business School. "Without education, it's pointless," he said. But most companies aren't Google, the market has long since passed the Silicon Valley of two decades ago, and employee stock programs today are still not widely embraced at most companies. Typically, about 20% to 30% of an organization participates. Reasons for low participation can include lack of education about the plan and competing financial interests that employees are managing. Most companies don't offer robust financial education to workers. MetLife's most recent annual employee benefits trends study, which was fielded in November, found that only 54% of employers offer financial planning and education workshops or tools. Everyday demands on money Companies will create more buy-in among employees if they have the education around what company stock programs mean for them and the ability to do things like balance their budget, said Aalap Shah, managing director at compensation consultancy Pearl Meyer. "How can I buy equities if I don't know if I can afford it?" he said. A Walmart spokesperson pointed to its partnership with Khan Academy to offer free online financial literacy courses to associates and their family members on topics such as budgeting and savings, financial goals, insurance, investments and retirement. The company also offers financial counseling through a partnership with Lyra Health Partners including tax planning, financial planning for debt, budgeting, retirement and more, according to its 2024 employee benefits book. Chipotle is also trying to boost the financial education it offers to employees. It has a new partnership with SoFi that gives Chipotle employees access to the SoFi at Work Dashboard, a financial well-being education platform. This includes an assessment of current financial outlook, as well as suggestions and tools, according to a spokesperson. No replacement for low-cost index funds Even stellar education can fall short when it comes to prodding workers to buy company shares, Kownatzki said. For employees struggling to make ends meet, the first priority is to put food on the table, pay rent and meet other basic needs. "When you're only making $15 to $20 an hour, just getting food on the table is clearly more important than buying stock. No question about that," he said. For employees who have some discretionary income, investing in their company's stock could be a good tool as part of an overall investment strategy. But even so, Kownatzki said many people would be better off buying a small fraction of shares in a low-cost index fund and accumulating that over time. "I would rather have diversification in an index fund," he said. Saving for retirement is also a goal that — if they are doing it — leaves many workers with little to no extra cash to spare. That's an issue BlackRock's Chairman Larry Fink focused on in his annual letter to investors, released earlier this week. "As a society, we focus a tremendous amount of energy on helping people live longer lives. But not even a fraction of that effort is spent helping people afford those extra years," he wrote in the letter. Upping the financial incentives If getting equity into the hands of employees is really important to employers, companies have several options. Many companies already offer an ESPP, but they could choose to enhance what they are offering, Kestenbaum said. For instance, if they don't offer a discount, they could. Or, maybe they could create a longer lookback period to allow employees to take advantage of an even lower stock price, or offer a larger discount on an ESPP plan, he said. Another option would be to give equity awards to lower-level workers as part of their compensation. Emerging companies, technology players and fintechs have historically been focused on broader equity participation, he said. But other companies could also consider the strategy. Bank of America, for example, has decided to give restricted stock bonuses worth a collective $800 million to roughly 97% of its staff. Employees who earn less than $500,000 in total annual pay are eligible for the award. Walmart is offering an annual stock grant of up to $20,000 to managers. Of course, an equity grant strategy could be expensive for companies — especially those with a large employee base — so that needs to be taken into consideration, Kestenbaum said.
3 money moves to make in your 30s to set yourself up for financial success 2024-03-31 14:56:00+00:00 - Your 30s are a decade often marked by big financial steps, from buying your first home to switching jobs to saving for future children. With more working years under your belt, you're likely making more money than you did in your 20s — but it can still be confusing to know exactly what you should be doing with it to set yourself up for financial success into your 40s and beyond. Here are three smart things to do with your cash as a thirtysomething, according to two certified financial planners. 1. Continue eliminating debt While paying off debt should also be a focus for those in their 20s, you could be even better positioned in your 30s to focus on tackling outstanding payments, because you're likely making more money, says Andrew Fincher, a CFP and financial advisor at VLP Financial Advisors. "When you're in your 30s and you have the ability to pay down more, that's a great time frame to really try to not have that debt extended into your 40s," he says. 2. Consider opening a 529 account If you have or plan on having children, your 30s are a good time to think about opening a 529 college savings account to fund their future education — especially given that the average cost of college in the U.S. is over $36,000 per year and growing. A 529 plan is a tax-advantaged savings account sponsored and operated by all 50 states and the District of Columbia. Earnings and withdrawals from a 529 are tax-free if they are used for qualified education expenses. If you open a 529 account when your child is born, you'll have around 18 years to save and grow your investments, says Fincher. Doing so will make it less likely that your kid will have to worry about student debt when they're older. State tax deductions for 529 contributions also make these college savings plans appealing, though every state is different. Maximum contribution limits also vary by state, ranging from $235,000 to $529,000, according to NerdWallet. 3. Boost your retirement savings
These are the 10 best places in the U.S. to raise a family—California didn't make the top 10 2024-03-31 14:56:00+00:00 - If you're looking for the best place in the U.S. to raise your family, consider moving to Illinois or Pennsylvania. Both states contain several towns that ranked highly on a recent report from Niche assessing the nation's top family-friendly locales. The two states combined were home to seven of the top 10 places to raise a family in America. To rank each location in terms of how much it would appeal to a family, the platform used data from the U.S. Census, Department of Education and FBI. It assessed factors including the quality of public schools in the area, cost of living, family amenities such as parks, libraries and cultural activities as well as walkability. Other factors taken into account include: Crime rates Housing Ethnic, generational and economic diversity Percentage of households with children Percentage of residents age 17 and under Chesterbrook, Penn. took the top spot on Niche's list, thanks in part to the Philadelphia suburb's highly-rated public school system.