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Katie Britt defended her story suggesting Biden's border policies are to blame for sex trafficking that happened 3 presidencies ago 2024-03-10 20:55:10+00:00 - Alabama Sen. Katie Britt defended the sex trafficking account she described during her SOTU rebuttal. Britt was criticized for linking a decades-old story of a victim in Mexico to President Joe Biden. On Fox News, Britt said she was clear with her comments and denied that her language was deceptive. 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 Alabama Sen. Katie Britt stepped into the center of the political spotlight last week and may wish she could step out of it. With her Republican rebuttal to President Joe Biden's State of the Union address on Thursday, Britt became a target for fact-checkers and late-night comedians. While arguing Biden "invited" the immigration crisis at the southern border, Britt brought up an anecdote of a sex trafficking victim who she said she spoke with after taking office in 2023. "I traveled to the Del Rio sector of Texas. That's where I spoke to a woman who shared her story with me. She had been sex trafficked by the cartels starting at the age of 12. She told me not just that she was raped every day, but how many times a day she was raped," Britt said. Advertisement While describing the devastating circumstances of the woman's case, Britt seemed to imply that it took place under Biden's administration. "We wouldn't be okay with this happening in a Third World country. This is the United States of America, and it is past time, in my opinion, that we start acting like it. President Biden's border policies are a disgrace," Britt said. The catch is that the case Britt referred to happened in Mexico during the second George W. Bush administration. The victim has testified to being abused from 2004 to 2008, and a fact-check by The Washington Post found no evidence that cartels were involved, despite Britt's claims to the contrary. Asked if she meant to "give the impression that this horrible story happened on Biden's watch" on Fox News by Shannon Bream on Sunday, Britt defended her wording. Advertisement "No, Shannon, look, I very specifically said this is what President Biden did during his first 100 days," detailing the president's immigration policies and executive actions Britt disagreed with. Britt said she was simply contrasting Biden's first days with her own first 100 days in office, during which she said she visited the border multiple times and spoke with "previous victims of drug cartels." "Okay but to be clear, the story that you relayed is not something that's happened under the Biden administration, that particular person?" Bream pressed. "Well, I very clearly said I spoke to a woman who told me about when she was trafficked when she was 12," Britt replied. "I didn't say a teenager, I didn't say a young woman. A grown woman, a woman." Advertisement Speaking with the Post, Britt's communications director Sean Ross disagreed with the premise that Britt's language about the anecdote was deceptive. "The story Senator Britt told was 100% correct," Ross told the Post, arguing that Biden's policies have "empowered the cartels" to victimize more people "than ever before." Ross did not immediately respond to a request for comment from Business Insider on Sunday.
How much is an Oscar statue worth? The resale value of Academy Awards statues is strictly regulated 2024-03-10 19:56:00+00:00 - An Oscar statue is perhaps the most coveted award an actor can hold. In most cases, however, the 24-karat gold-plated figure yields no more than a dollar — if a winner tries to resell it on the open market. Ahead of the 2024 Academy Awards on Sunday, here's a look at the strict rule behind Oscar's strikingly low resale worth. How much is an Oscar worth? In short $1. That's because anyone who wins an Oscar must sign an agreement and adhere to a no-resale rule put into place in 1951 by the Academy of Motion Picture Arts and Sciences, the professional honorary organization that hosts the Oscar Awards. The rule states that no one can resell their Oscar unless the Academy itself refuses to buy it first — for a dollar. Why is an Oscar worth so little? "Award winners shall not sell or otherwise dispose of the Oscar statuette, nor permit it to be sold or disposed of by operation of law, without first offering to sell it to the Academy for the sum of $1.00," the Academy's rule website states. "This provision shall apply also to the heirs and assigns of Academy Award winners who may acquire a statuette by gift or bequest." The Academy did not immediately respond to a request for comment by CBS MoneyWatch on why the rule was put into place. Nevertheless, attempts to try to sell an Oscar without first alerting the Academy have often led to courthouse showdowns. The Academy in 2007 sued to stop the resale of two Oscars won by silent film star Mary Pickford. A California judge sided with the Academy in a 2008 ruling. Six years later in 2014, Joseph Tutalo auctioned an Oscar that his uncle, Joseph Wright, won in 1943 for best color art direction for the film "My Gal Sal." The statue was sold for a winning bid of $79,200, Reuters reported at the time. The Academy sued Tutalo and the auction house that made the sale for breach of contract in 2015. Once again, a California judge ruled in favor of the Academy, forcing the auction's winner to return the statue. But there have been instances where Oscar-statue seekers have been able to buy an individual's award without any legal challenge from the Academy. Here are a few examples: Michael Jackson bought the Best Picture Oscar awarded to producer David Selznick in 1939 for "Gone with the Wind." The King of Pop paid a hefty $1.5 million for it in 1999. Beatrice Welles, the youngest daughter of Orson Welles, sold the Best Original Screenplay Oscar her father won in 1942 for "Citizen Kane," for $862,000 in 2011, a quarter-century after his death. The 1941 movie, which Welles also directed and starred in, is considered the greatest film of all time by cinephiles. Beatrice first attempted to sell the prized statue at a Christie's auction in 2003, but was blocked by the Academy. In 2004 a U.S. District Court judge granted her the right to sell the award, marking the first time the Academy had lost a case against an Oscar resale, reported Variety. Director Steven Spielberg paid $607,500 for Clark Gable's Best Actor Oscar for "It Happened One Night." The Oscar-winning director also paid $758,000 for two Oscars won by Bette Davis, the Los Angeles Times reported. Magician David Copperfield paid $231,500 in 2003 for the 1943 Best Director Oscar awarded director Michael Curtiz for "Casablanca." He resold it at auction in 2012 for slightly over $2 million dollars. The 2024 Academy Awards will be presented on Sunday, March 10, at 7 p.m. ET and 4 p.m. PT.
Federal judge in Texas blocks US labor board rule that would make it easier for workers to unionize 2024-03-10 19:43:19+00:00 - A federal judge in Texas has blocked a new rule by the National Labor Relations Board that would have made it easier for millions of workers to form unions at big companies. The rule, which was due to go into effect Monday, would have set new standards for determining when two companies should be considered “joint employers” in labor negotiations. Under the current NLRB rule, which was passed by a Republican-dominated board in 2020, a company like McDonald’s isn’t considered a joint employer of most of its workers since they are directly employed by franchisees. The new rule would have expanded that definition to say companies may be considered joint employers if they have the ability to control — directly or indirectly — at least one condition of employment. Conditions include wages and benefits, hours and scheduling, the assignment of duties, work rules and hiring. The NLRB argued a change is necessary because the current rule makes it too easy for companies to avoid their legal responsibility to bargain with workers. The U.S. Chamber of Commerce and other business groups — including the American Hotel and Lodging Association, the International Franchise Association and the National Retail Federation — sued the NLRB in federal court in the Eastern District of Texas in November to block the rule. They argued that the new rule would upend years of precedent and could make companies liable for workers they don’t employ at workplaces they don’t own. In his decision Friday granting the plaintiffs’ motion for a summary judgement, U.S. District Court Judge J. Campbell Barker concluded that the NLRB’s new rule would be “contrary to law” and that it was “arbitrary and capricious” in regard to how it would change the existing rule. Barker found that by establishing an array of new conditions to be used to determine whether a company meets the standard of a joint employer, the NRLB’s new rule exceeds “the bounds of the common law.” The NRLB is reviewing the court’s decision and considering its next steps in the case, the agency said in a statement Saturday. “The District Court’s decision to vacate the Board’s rule is a disappointing setback, but is not the last word on our efforts to return our joint-employer standard to the common law principles that have been endorsed by other courts,” said Lauren McFerran, the NLRB’s chairman.
TikTok creators are urging users to help #KeepTikTok 2024-03-10 19:15:00+00:00 - Thousands of TikTok users, many of whom say they’ve built entire livelihoods and communities on the app, are responding to the company’s plea to #KeepTikTok by urging against its potential ban. The platform of more than 1 billion monthly active users is facing a bill that would force ByteDance, its China-based parent company, to divest TikTok or risk its ban from U.S. app stores. This has galvanized a resurgence in videos under the hashtag #KeepTikTok, which initially gained traction a year ago — after TikTok CEO Shou Zi Chew appeared before Congress to field blistering questions about whether the app posed a national security risk. Now, TikTok is calling for help by promoting the campaign to its vast network of creators. “Act now to protect your freedom to create,” the company wrote in a social media statement Saturday. “Share a video expressing what TikTok means to you or how it has positively impacted your life, and use the #KeepTikTok hashtag. You can also encourage your audience to tell Congress to vote NO on the TikTok ban bill.” JT Laybourne, a longtime TikTok creator who has amassed 1.7 million followers on the app, is among those who put out an emotional call to action, sharing his frustration at the possibility of losing the digital space in which he’s built a full-time income stream and found community. “The app that I rely on to feed my wife and three children,” Laybourne said of the platform. “The app that I rely on to provide for my family. The app that I rely on to keep my business alive.” He added that he takes issue not with national security concerns, but with the lawmakers behind the bill who have made comments disparaging the platform and its users. “You want me to have any kind of confidence in what you’re doing when you can’t even acknowledge what this app really is, what it’s about, what it’s done?” Called the Protecting Americans from Foreign Adversary Controlled Applications Act, the bipartisan legislation unanimously passed the House Energy and Commerce Committee and is expected to receive a floor vote in the House of Representatives next week. President Joe Biden has said he would sign the bill if it passes the House and Senate. If enacted, it would empower the president to use federal intelligence agencies to identify certain social media apps as national security threats if they are deemed to be under the control of foreign adversaries such as China, Russia, Iran or North Korea. Such apps would then be banned from online app stores and web-hosting services unless they sever ties with entities under control of the foreign adversary within 180 days of the designation. “This legislation has a predetermined outcome: a total ban of TikTok in the United States,” a TikTok spokesperson wrote in an emailed statement. “The government is attempting to strip 170 million Americans of their Constitutional right to free expression. This will damage millions of businesses, deny artists an audience, and destroy the livelihoods of countless creators across the country.” On Thursday, TikTok also sent push notifications to some users urging them to call their representatives and tell them to vote against the bill. Rep. Mike Gallagher, R-Wis., a co-author of the bill, told NBC News this week that this characterization of the legislation as a TikTok ban is “an outright lie.” “As long as ByteDance no longer owns the company, TikTok can continue to survive,” said Gallagher, who chairs the select committee on the Chinese Communist Party. “People can continue to do all the dumb dance videos they want on the platform or communicate with their friends and all that stuff.” But many online who are pushing back against lawmakers’ concerns say their assumptions about TikTok prove they have little to no understanding of how users have shaped the platform over the past half decade. “TikTok is so much more than just an app you can post your silly little dancing videos on,” one creator and small business owner said in a video, adding that the platform has connected real people from around the world. “It’s been a place that people who really need a voice can find it, and TBH, I think it’s really scary that there are people out there that think we should not have this connection.” Many small-business owners and artists have built their dream careers through the audiences they’ve built on the platform, creators say. For some of these users, TikTok has become their primary means of financial stability. “It’s taken me six years to get to this point. Literally not even a month ago, I quit my job to do TikTok, social media, full time. And now this,” another creator shared in a tearful video. “It’s just like one day my dreams are coming true, and then the next day it’s getting ripped away from me.” Laybourne told NBC News nearly 95% of his income comes from his apparel business, which maintains its fan base almost exclusively through TikTok. He and his wife, who is also a creator and co-owner, have found the platform to be the most effective way to promote new designs and apparel drops. Aside from his financial reliance on the app, Laybourne said he has watched it change people’s lives: users rallying to raise money for someone in need, or simply rushing to offer emotional encouragement to someone feeling vulnerable. His own community on the app raised more than $1 million for the American Heart Association in 2020, inspired by the support he received from the group when he underwent open-heart surgery earlier that year. “That’s why hearing our elected representatives mock TikTok, mock what it does and what it is and what it stands for and its creators, it’s just really disheartening,” Laybourne said. “It doesn’t make me feel like this is anything other than just a vendetta, which is frustrating for the people that truly have found purpose and a voice on TikTok.”
Robert De Niro Says He Refuses To Ever Portray Donald Trump: 'The Guy Is A Total Monster' 2024-03-10 19:00:00+00:00 - Loading... Loading... Renowned for his portrayals of complex characters, Robert De Niro has made it clear there's one role he'll never take on: that of former President Donald Trump. During an appearance on "Real Time With Bill Maher," the celebrated actor expressed his disdain for the former president, emphasizing the importance of voting for Joe Biden to avoid a "nightmare" scenario. De Niro, who has never shied away from expressing his political views, articulated his concerns about Trump's potential re-election, reported The Guardian. "The bottom line is, it’s Biden versus Trump. We want to live in a world that we want to live in and enjoy living in, or live in a nightmare,” he told the outlet, advocating for a return to normalcy under Biden's leadership. The actor's apprehension about Trump's character was palpable. “I just don’t want to feel the way I did, and many of us don’t, after the election in 2016 where we couldn’t believe that it happened. The guy is a total monster,” he said. Also Read: Despite Lead Over Joe Biden, Donald Trump Is Falling Behind In One Respect When It Comes To Battleground States With Trump being the last leading candidate for the 2024 Republican nomination after Nikki Haley's withdrawal, De Niro's comments come at a critical time. His past criticisms of Trump have been vocal and consistent, including a notable speech at the Gotham Awards where he condemned Trump's falsehoods and deceitful presidency. Trump's rebuttal on Truth Social, where he labeled De Niro "a total loser," underscores the ongoing feud between the two figures. De Niro is nominated for best supporting actor at this year's Academy Awards for his role in "Killers of the Flower Moon." 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. Photos: Shutterstock
Trump may have defamed E. Jean Carroll again, one day after posting a $91.6 million bond for last case 2024-03-10 18:57:00+00:00 - Republican presidential candidate and former President Donald Trump reacts to supporters as he arrives on stage during a Get Out the Vote Rally March 2, 2024 in Richmond, Virginia. Former President Donald Trump on Saturday stood by his 2019 statement that writer E. Jean Carroll made a "totally false accusation" against him, despite similar claims resulting in him losing a defamation case in January. Campaigning at a rally in Rome, Georgia, Trump referenced the $91.6 million bond he posted on March 8, three days before his deadline to pay $83.3 million in damages to Carroll for defaming her in statements he made as president after denying her accusation that he'd raped her in a department store dressing room in the 1990s. Carroll first came forward in 2019 with sexual assault claims against Trump before another civil trial in May 2023, where a New York jury found that the former president sexually abused Carroll but didn't rape her. "I just posted a $91 million bond, $91 million on a fake story, totally made-up story," Trump said, adding that the judgment was, "based on false accusations made about me by a woman that I knew nothing about, didn't know, never heard of, I know nothing about her." The 77-year-old made similar remarks in a June 22, 2019, statement, MSNBC legal correspondent Lisa Rubin posted on X on Saturday, including a document of Trump's denial of knowing "who this woman is." "She wrote a book, she said things, and when I denied it, I said, 'It's so crazy, it's false,' I get sued for defamation," Trump said on Saturday before referring to New York's Adult Survivors Act, which lifted the state's statute of limitations for one year, allowing survivors of sexual assault to sue no matter how long ago the alleged abuse happened. "They changed the law that allowed women to go back, like unlimited … then she went back and she said, mid-90s maybe, I have no idea," he said. On top of the $83.3 million in damages is a $5 million sexual abuse and defamation verdict that Carroll won against Trump last year. In February, the former president was also ordered to pay $464 million in damages for a separate fraud case against Trump and top executives at his company — he plans to appeal all three verdicts. Trump also shared his concerns about Lewis Kaplan, the federal judge who denied his request to delay the defamation judgment, calling him a "Trump-deranged, angry man." Both Carroll's legal team and the Trump campaign did not immediately respond to CNBC's request for comment.
Police remove 34 bodies from English funeral home and arrest 2 for fraud and preventing burial 2024-03-10 18:41:54+00:00 - LONDON (AP) — Nearly three dozen bodies were removed from a funeral home in northern England, and a man and woman were arrested Sunday on suspicion of fraud and preventing a lawful burial, police said. Humberside Police announced the developments after five days of investigation at three branches of Legacy Funeral Directors in Hull and East Yorkshire. Assistant Chief Constable Thom McLoughlin said 34 bodies had been taken to a mortuary in Hull for identification. A 46-year-old man and 23-year-old woman, whose identifies weren’t disclosed by authorities, were arrested on suspicion of preventing a lawful and decent burial, fraud by false representation and fraud by abuse of position. No other details were available about the nature of the suspected crimes. Police said 350 people had contacted them since Friday after they asked families who had lost loved ones to contact investigators if they had concerns. “Please be reassured that my staff and officers are working around the clock to deal with the unprecedented inquiries generated as a result of this incident,” McLoughlin said. “Families affected continue to be supported by family liaison officers at what we appreciate is an extremely distressing time for all involved.” A website for the business said it was family run and had been established in 2010 and then expanded. The last news update on the website — from 2021 — said that despite uncertainty with COVID-19 services could continue and it was planning to open a fourth branch. “As an independent funeral director, we are able to create a unique farewell for loved ones, with more flexibility and less constraint than our competitors,” the website said. “With such breadth of experience, you and your family are assured the best service and care available.” An email sent to the funeral home by The Associated Press seeking comment wasn’t immediately returned and a phone listed for the business rang unanswered.
3 Stocks That Could Be Easy Wealth Builders 2024-03-10 18:21:00+00:00 - Building wealth through the stock market is a simple process of building up a collection of great businesses and holding them in your portfolio for many years. Investors can achieve excellent long-term returns in this way, even by owning mostly large index funds that mirror the performance of the S&P 500. You can bolster these returns with individual stocks that outperform the wider market, of course. And by choosing successful businesses with strong finances, you'll maximize your chances to generate wealth over the decades. Let's look at a few of these standout stocks that can make growth an easier process for your retirement portfolio. 1. Procter & Gamble is the easy choice Procter & Gamble (NYSE: PG) has most of the ingredients you could want in a long-term stock holding. The company dominates dozens of product categories with goods consumers use daily, giving shareholders stability through a wide range of selling environments. Its market leadership position confers big financial benefits, too, in the form of faster growth and higher profitability. Compare its 24% operating profit margin with Kimberly-Clark's 15% rate, for example. PG Operating Margin (TTM) Chart It hasn't been all good news for P&G's business lately, as sales volumes dipped into negative territory last year. But its pricing power offset that decline, allowing overall organic sales to continue rising. Management is projecting another year of modest growth ahead in fiscal 2024. Investors can take advantage of Wall Street's lack of enthusiasm about that growth to pick up P&G's shares at a discount today since the stock sat out most of the rally in the past year. 2. Microsoft is cash-rich If you have more of an appetite for risk, consider adding Microsoft (NASDAQ: MSFT) stock to your retirement portfolio. The tech giant has already produced many millionaires on its way to its current $3 trillion market capitalization. But don't let that eye-popping valuation scare you away from Microsoft's stock. Story continues After all, growth is still going strong at 16% in the most recent quarter. Microsoft is seeing big gains in its core cloud services segment but has also returned to growth in the personal computing segment. Its recent acquisition of Activision Blizzard helped its gaming segment soar through late December. Investors who prioritize cash flow will love this business, which generated $49 billion of operating cash in the past six months compared to $34 billion a year earlier. These wins will allow for robust cash returns through dividends and stock buybacks in the years to come, amplifying investors' total returns from here. 3. Shopify will profit Shopify (NYSE: SHOP) looks like a growth stock that's just getting started on a long expansion journey. The e-commerce infrastructure specialist is building on its roughly 10% market share in the U.S., with sales jumping 26% in 2023. Cash flow and profit margins took big steps higher last year, too, with help from the company's sale of its expensive logistics segment. There's every reason to expect more of the same in 2024. "We look to build on the momentum that we achieved in 2023 and continue to deliver both top-line growth and profitability," CFO Jeff Hoffmeister said in mid-February. As you might expect, the stock's valuation has jumped in response to this good news. You'll have to pay 14 times sales to own Shopify today compared to 10 times sales a year ago. Still, that premium won't matter much in a decade or more if the company can keep generating higher transaction volumes while improving its financial strength. Watching the stock for a pullback might be the best strategy if you're worried about its high valuation. But having a long holding period in mind reduces the risk of overpaying for a successful growth stock like this. Should you invest $1,000 in Procter & Gamble right now? Before you buy stock in Procter & Gamble, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Procter & Gamble wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*. See the 10 stocks *Stock Advisor returns as of March 8, 2024 Demitri Kalogeropoulos has positions in Shopify. The Motley Fool has positions in and recommends Microsoft and Shopify. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy. 3 Stocks That Could Be Easy Wealth Builders was originally published by The Motley Fool
U.S. forces fly in to beef up security at embassy in Haiti and evacuate nonessential personnel 2024-03-10 18:09:00+00:00 - PORT-AU-PRINCE, Haiti — The U.S. military said Sunday that it had flown in forces to beef up security at the U.S. Embassy in Haiti and allow nonessential personnel to leave. The aircraft flew to the embassy compound, the U.S. Southern Command said, meaning that the effort involved helicopters. It was careful to point out that “no Haitians were on board the military aircraft.” That seemed aimed at quashing any speculation that senior government officials might be leaving as the gang attacks in Haiti worsen. The neighborhood around the embassy in the capital, Port-au-Prince, is largely controlled by gangs. “This airlift of personnel into and out of the Embassy is consistent with our standard practice for Embassy security augmentation worldwide, and no Haitians were on board the military aircraft,” according to the Southcom statement. In many cases, nonessential personnel can include the families of diplomats, but the embassy had already ordered departure for nonessential staff and all family members in July. The personnel ferried out of the embassy may have simply been rotating out, to be refreshed by new staff. National palace guards set up a security perimeter Sunday around one of the three downtown stations a day after police fought off an attack by gangs in Port-au-Prince, Haiti. Odelyn Joseph / AP The statement Sunday said that the United States remains focused on aiding Haitian police and arranging some kind of U.N.-authorized security deployment. But those efforts have been unsuccessful so far. Haiti’s embattled prime minister, Ariel Henry, traveled recently to Kenya to push for the U.N.-backed deployment of a police force from the East African country to fight the gangs. But a Kenyan court ruled in January that such a deployment would be unconstitutional. Henry, who is facing calls to resign or form a transitional council, remains unable to return home. He arrived in Puerto Rico on Tuesday after he was unable to land in the Dominican Republic, which borders Haiti. On Saturday, the office of Dominican President Luis Abinader issued a statement saying that “Henry is not welcome in the Dominican Republic for safety reasons.” The Dominican Republic, which shares the island of Hispaniola with Haiti, has closed its land border. “Given the current situation, the presence of the Haitian prime minister in the Dominican Republic is not considered appropriate,” according to the statement, adding that “this decision reflects the firm position of the Dominican government to safeguard its national security and stability.” The statement described the security situation in Haiti as “totally unsustainable” and said that it “poses a direct threat to the safety and stability of the Dominican Republic.” The statement predicted “the situation could deteriorate even further if a peacekeeping force is not implemented urgently to restore order.” Caribbean leaders have called for an emergency meeting Monday in Jamaica on what they called Haiti’s “dire” situation. They have invited the United States, France, Canada, the United Nations and Brazil to the meeting. Members of the Caricom regional trade bloc have been trying for months to get political actors in Haiti to agree to form an umbrella transitional unity government. Caricom said Friday that while regional leaders remain deeply engaged in trying to bring opposition parties and civil society groups together to form a unity government, “the stakeholders are not yet where they need to be.” “We are acutely aware of the urgent need for consensus to be reached,” according to the statement. “We have impressed on the respective parties that time is not on their side in agreeing to the way forward. From our reports, the situation on the ground remains dire and is of serious concern to us.” In February, Henry agreed to hold a general election by mid-2025, and the international community has tried to find some foreign armed force willing to fight gang violence there. Caricom has also pushed Henry to announce a power-sharing, consensus government in the meantime, but the prime minister has yet to do so even as Haitian opposition parties and civil society groups are demanding his resignation. Henry, a neurosurgeon, was appointed as Haiti’s prime minister after the July 2021 assassination of President Jovenel Moise. It was unclear whether Henry would be in Jamaica for the Caricom meeting. In Port-au-Prince, meanwhile, police and palace guards worked Saturday to retake some streets in the capital after gangs launched major attacks on at least three police stations. Guards from the National Palace accompanied by an armored truck tried to set up a security perimeter around one of the three downtown stations after police fought off an attack by gangs late Friday. Sporadic gunfire continued Saturday, and one woman writhed in pain on the sidewalk in downtown Port-au-Prince with a gunshot wound after a stray bullet hit her in the leg. The unrelenting gang attacks have paralyzed the country for more than a week and left it with dwindling supplies of basic goods. Haitian officials extended a state of emergency and nightly curfew on Thursday as gangs continued to attack key state institutions. But average Haitians, many of whom have been forced from their homes by the bloody street fighting, can’t wait. The problem for police in securing government buildings is that many Haitians have streamed into them, seeking refuge. “We are the ones who pay taxes, and we need to have shelter,” said one woman, who didn’t give her name for safety reasons. Another Port-au-Prince resident, who also did not give his name, described Friday’s attacks. “They (the gangs) came with big guns. We have no guns and we cannot defend ourselves. All of us, the children are suffering,” said the man.
Biden's State of the Union address brought in $10 million for his reelection campaign, report says 2024-03-10 18:05:50+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview President Joe Biden brought his A-game for his State of the Union address last week, and it's paying off — literally. In the 24 hours following his address on Thursday, Biden's campaign for reelection brought in $10 million in what the campaign said was a record for the president, NBC News reported. Some 116,000 donations came from 113,000 supporters, the campaign told NBC. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. "Ten million dollars in 24 hours. To quote the boss, that's a BFD," campaign manager Julie Chavez Rodriguez told NBC in a statement. "The President's State of the Union address reminded so many of our supporters who is fighting for them, and the stakes of this election for our freedoms, our rights, and our democracy." Biden's campaign did not immediately respond to a request for comment from Business Insider. Advertisement NBC reported that it capped off a productive fundraising period for Biden, whose campaign ended January with $56 million to Donald Trump's $30 million. According to NBC, the DNC and RNC reported having $24 million and $9 million, respectively. In his SOTU address, Biden lit into former President Trump as the likely GOP candidate for president and his Republican supporters while touting his own accomplishments with healthcare and prescription prices. He also took aim at the conservative-majority Supreme Court for its landmark dismantling of Roe v. Wade, promising that women nationwide would fight back at the ballot box. Trump commented on Biden's address on Truth Social, his social media website. Karoline Leavitt, a spokesperson for Trump's campaign, said she was "more confident than ever that he will take back the White House in November." "President Trump's campaign is fueled by small dollar donors across the country from every background who are sick and tired of Crooked Joe Biden's record-high inflation, wide open border, crime and chaos," Leavitt said in a statement to Business Insider. Advertisement Following the State of the Union address, Biden's campaign launched a $30 million ad blitz on Saturday that underscored one of Biden's key vulnerabilities: his age. "Look, I'm not a young guy. That's no secret," Biden, 81, says in the ad. "But here's the deal, I understand how to get things done for the American people."
About 63,000 Infant Swings Are Recalled Over Suffocation Hazard 2024-03-10 18:05:00+00:00 - Jool Baby, a brand of children’s products, has recalled about 63,000 infant swings that were sold at Walmart stores and online because they posed a suffocation risk, federal safety regulators said. The U.S. Consumer Product Safety Commission said on Thursday that the Jool Baby Nova Baby Infant Swing that was marketed, intended or designed for infant sleep posed a suffocation risk because it had an incline angle greater than 10 degrees. The product was in violation of the commission’s Infant Sleep Products Regulation and the Safe Sleep for Babies Act, the agency said. A study cited in the federal regulation of infant sleep products found that infants who slept in products with a 20-degree incline were exposed to increased demand on the abdominal muscles, which could lead to fatigue and suffocation. The same study determined that an incline of 10 degrees or below does not significantly affect infant motion or muscle activity.
Mark Zuckerberg, Kim Kardashian, Shaquille O'Neal And Tom Cruise Are Building Bunkers — Here's How Much One Could Cost You 2024-03-10 17:03:00+00:00 - Loading... Loading... Preparing for doomsday has become a luxurious trend among the elite, with celebrities such as Mark Zuckerberg, Kim Kardashian, Shaquille O’Neal, and Tom Cruise investing in extravagant bunkers to guarantee their comfort in case of an apocalypse. Zuckerberg is reportedly constructing a 5,000-square-foot underground bunker at his $100 million Hawaii compound. The bunker will feature a living space, a mechanical room and an escape hatch. Similarly, Bill Gates is said to have bunkers under his homes. In New York City, the challenge of limited space has led to innovative solutions for creating safe havens. Speaking to the New York Post, Christopher Pollack, managing partner of Pollack + Partners, shared insights into adapting apartment spaces into secure rooms. "In an apartment you don’t have a lot of space to just dedicate to the safe room," Pollack said, noting that master closets, equipped with food and water storage and a bathroom, are often transformed into temporary safe zones. In a duplex apartment in Manhattan, he transformed two closets and a master bathroom into a cozy 300-square-foot retreat. “It functioned every day as a closet and a master bathroom,” he added. “But in the event of like a dirty bomb in New York City, the family could go into that. It had special ventilation and food and water storage for a number of days.” Also Read: Kim Kardashian's Skims Brand Began In A Bathtub: 'I Dyed Shapewear With Tea, Coffee' Features of these safe rooms range from basic security enhancements to lavish underground bunkers with air filtration systems, medical supplies and luxury accommodations, according to the New York Post. The cost of an effective, safe room can start at around $50,000 and exceed $1 million, depending on the level of sophistication and amenities included. This trend reflects a broader societal movement towards disaster preparedness, with approximately 29% of adult Americans spending $11 billion on doomsday preparations over 12 months. Now Read: Mark Zuckerberg's Fortune Grew $44 Billion This Year This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo: Shutterstock
Donald Trump's Justice Department Once Stymied A Major Investigation Into Caterpillar, Says Report - CATCo Reinsurance Opportunities Fund Ltd (NYSE:CAT) 2024-03-10 16:40:00+00:00 - Loading... Loading... Caterpillar Inc. CAT reportedly managed to navigate through a potentially crippling federal investigation with a combination of legal prowess and strategic connections. The case, which began with allegations of tax evasion through profit shifting to a Swiss subsidiary, took a sudden and unexpected turn in December 2018 when the Justice Department abruptly halted a key witness interview in Amsterdam just as former President Donald Trump was about to nominate William P. Barr as attorney general, reported The New York Times. Barr, a former attorney general under George H.W. Bush and a key figure in Caterpillar's defense, along with other well-connected lawyers, had met with senior federal officials, criticizing the investigation's basis and conduct. The investigation, which could have cost Caterpillar billions in back taxes, ended with the IRS settling for less than a quarter of the initially claimed amount without imposing any penalties. This outcome raises questions about the influence of high-profile legal representation and its impact on the justice system. “It appears that Caterpillar was given special political treatment that the average U.S. citizen cannot obtain,” Jason LeBeau, one of the agents who worked on the investigation, wrote to the Justice Department’s inspector general in late 2023. Also Read: Despite Lead Over Joe Biden, Donald Trump Is Falling Behind In One Respect When It Comes To Battleground States In response to a request for comment from the New York Times, Joan Cetera, a spokeswoman for the company, said, “Caterpillar cooperated with the government in its review of the issues, and we were pleased to have reached the resolution with the I.R.S.” Still, the sequence of events, from the halting of the investigation to the eventual settlement, apparently sparked concerns among federal officials and calls for an internal investigation into potential political interference, according to The New York Times. The case highlights the challenges and complexities of prosecuting corporate tax evasion, especially when powerful legal figures are involved. Based on internal Justice Department emails, interviews, and regulatory filings, this account sheds light on the opaque mechanisms of legal and political influence that can alter the course of federal investigations. 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. Photo: Shutterstock
Why Walmart's quick success in generative AI search should have Google worried 2024-03-10 16:37:00+00:00 - Planning purchases for a special occasion like recent Super Bowl parties or Valentine's Day celebrations might typically require consulting more than one online source — or the primary source of Google — but if Walmart has its way, that is going to change in the future. Walmart is talking up its ability to use generative AI as a one-stop shop to search when you need to plan an event, rather than online destination to search for individual items. During a call with analysts after its February earnings, Walmart CEO Doug McMillon talked about the gen AI search capabilities in its app. "The thing we're most excited about that's already happened is the way search has improved, and the way generative AI helped us really improve a solution-oriented search experience for customers and members," McMillon said on the earnings call. "And it happened pretty quickly." It also adds to the questions about future use of a search engine like Google. Walmart long ago established itself as a major tech player, successfully fending off years of anxiety over Amazon and remaining a leader in the retail space whose shares are now trading at an all-time high. The tech narrative is one the company has been spinning since it bought Jet.com, started by a former Amazon executive Marc Lore, noted Forrester vice president, principal analyst Sucharita Kodali. As a technology company, Walmart has to experiment a lot, and in the case of adding generative AI search capabilities, there's a very low cost for failure, she said. "It establishes them as an innovator in the space," Kodali said. "They're better to be a leader than a follower in their shoes. They're operating from a position of strength." Experiments can go wrong, though, as happened to Alphabet recently when it launched the Gemini gen AI into the market before it was ready. In a rare public appearance, Google co-founder Sergey Brin said the company "messed up" with the launch, but he dismissed concerns about the company's outlook. "I expect business models are going to evolve over time," Brin said. "And maybe it will still be advertising because advertising could work better, the AI is able to better tailor it. ... I personally feel as long as there's huge value being generated, we'll figure out the business models." AI and search, shopping business model shifts It's not only Walmart investing in this type of search in the retail sector. Instacart's AI-enabled "Ask Instacart" allows customers to search based on theme like dinner or date night rather than by item. Amazon's AI shopping assistant Rufus lets people have a conversation with the platform about what they need rather than just looking for direct items. Shopify's AI-powered "Semantic Search" helps sellers find the right items to sell potential customers, making sure their search results are more accurate. "We're going to see this become a norm for online retailers," said Jacob Bourne, analyst at Insider Intelligence. "Google is anxious is about search in general, and the question this raises is will it be a death by a thousand cuts for Google Search?" Bourne said. Kodali sees the threat in terms that are less existential. The world still relies heavily on Alphabet's core search business for many things, and some early gen AI successes from retailers won't change that. "You get in the habit of using Google because you use it for everything," Kodali said. "You use it for everything else (outside of shopping), and everything else is like 90 percent of the searches you do. So, unless Amazon and Walmart are going to get into the business of the other 90 percent of the searches, it's not going to happen." Alphabet is continuing to invest heavily in Gemini, as well as more specific AI tools to embed itself inside other retail ecosystems, such as Google Cloud's Vertex AI Search for retail, and its Conversational Commerce tools which allow companies to put virtual AI-powered customer service agents on their websites and apps. Customers of Google Cloud AI products include Victoria's Secret, Macy's Ikea, Lowe's and Rainbow Shops.
Sen. Katie Britt attempts to clean up her misleading State of the Union response 2024-03-10 16:17:00+00:00 - Alabama GOP Sen. Katie Britt on Sunday responded to allegations that her response to President Joe Biden’s State of the Union address was misleading. The criticism centers on a story Britt told about a victim of human trafficking, which she implied happened during Biden’s tenure. Britt spoke in her Thursday-night speech about visiting the U.S.-Mexico border in 2023 and speaking to this woman. “She had been sex-trafficked by the cartels starting at age 12. She told me not just that she was raped every day, but how many times a day she was raped,” Britt said in her response to the State of the Union. “We wouldn’t be OK with this happening in a Third World country. This is the United States of America, and it is past time, in my opinion, that we start acting like it,” she added. “President Biden’s border crisis is a disgrace.” Shortly after the address, a viral social media post by journalist Jonathan Katz looked more closely at the story and noted that the trafficking did not happen during Biden’s presidency, or even in the United States; it happened during the administration of President George W. Bush, in Mexico. On “Fox News Sunday,” Britt did not acknowledge making any mistake or leaving a wrong impression. She was asked whether she meant to give the impression that the story she told about a victim of human trafficking happened during Biden’s tenure. “No,” Britt answered, adding later: “I very clearly said I spoke to a woman who told me about when she was trafficked when she was 12, so I didn’t say a teenager. I didn’t say a young woman, a grown woman, a woman when she was trafficked when she was 12.” She doubled down on her Thursday statement that Biden “didn’t just create this border crisis. He invited it with 94 executive actions in his first 100 days.” “I very specifically said this is what President Biden did during his first 100 days. Minutes after coming into office he stopped all deportations, he halted construction of the border wall,” she said Sunday. (The Biden administration attempted to institute a 100-day pause on mass deportations after taking office, but that moratorium was later halted by a judge.) Though Britt did not offer the victim’s name in her speech Thursday, a spokesperson for her office told The Washington Post that she was referring to Karla Jacinto Romero, a trafficking victims’ rights advocate who testified before Congress in 2015 about what happened to her as a girl. Britt’s office did not respond to a request for comment from NBC News on Saturday. The White House shot back at the Republican senator, accusing Britt of relying on “debunked lies” to attack Biden. “Instead of telling more debunked lies to justify opposing the toughest bipartisan border legislation in modern history, Senator Britt should stop choosing human smugglers and fentanyl traffickers over our national security and the Border Patrol Union,” White House Deputy Press Secretary Andrew Bates said in a statement. “Like President Biden said in his State of the Union, ‘We have a simple choice: We can fight about fixing the border or we can fix it.’” In her 2015 congressional testimony, Jacinto Romero told lawmakers through an interpreter, “For more than four years of my life from the age of 12 ... I fell prey to a professional pimp who, after three months of wooing and me treating me as a princess, propped me up on a corner and forced me to work the streets for his own gain. For years and years, I was coerced, intimidated, threatened, beaten, robbed of my children and emotionally and sexually violated time and time again.” Jacinto Romero was 22 at the time of her testimony, meaning the experience she described began roughly a decade earlier. Britt met Jacinto Romero in January 2023 during a trip to the Del Rio sector of the U.S.-Mexico border, where she was accompanied by Fox News contributor Sara Carter, former Mexican politician and victims advocate Rosa María de la Garza Ramírez, and GOP Sens. Marsha Blackburn of Tennessee and Cindy Hyde-Smith of Mississippi. On an episode of “The Sara Carter Show” released the same day as the trip, Carter said she introduced Jacinto Romero to the senators, telling listeners, “She talked very vividly and candidly with lawmakers ... about what was happening to her, about people buying her.” Republicans have long criticized Biden’s handling of the border, arguing that the president has been ineffective at stopping the rampant migrant crossings along the southern border. The Biden administration has countered that Congress has been unwilling to step up to the plate since the bipartisan border deal fell apart, and the president is reportedly considering taking executive action to deter migration.
Biden White House condemns Sen. Katie Britt ‘lies’ in her State of the Union rebuttal 2024-03-10 15:59:00+00:00 - U.S. Sen. Katie Britt (R-AL) speaks at a press conference on border security at the U.S. The White House on Sunday slammed Sen. Katie Britt, R-Al., for misrepresenting her comments on sex trafficking to attack President Joe Biden's border policy. "Instead of telling more debunked lies to justify opposing the toughest bipartisan border legislation in modern history, Senator Britt should stop choosing human smugglers and fentanyl traffickers over our national security and the Border Patrol Union," White House Spokesman Andrew Bates said in a statement. The White House joined a chorus of Britt critics. The Alabama senator has been widely criticized, including by some on the right, for choosing to deliver her rebuttal to Biden's State of the Union from her kitchen and for her often-theatrical tone during the speech. Britt took even more heat after independent journalist Jonathan Katz first exposed her for recycling a 20-year-old anecdote about a victim of sex trafficking and presenting it as a result of the current administration's border policy. Sean Ross, Britt's spokesperson, on Saturday denied any allegations of misrepresentation. "The story Senator Britt told was 100% correct," Ross said in a statement to CNBC on Saturday. "But there are more innocent victims of that kind of disgusting, brutal trafficking by the cartels than ever before right now." Britt on Sunday doubled down on that denial. She argued that in her rebuttal she made clear that the woman who was the focus of her comments had experienced sex trafficking decades earlier during her childhood, and that it had not happened during the Biden administration. "I very clearly said I spoke to a woman who told me about when she was trafficked when she was 12. So I didn't say a teenager. I didn't say a young woman — a grown woman, a woman who was trafficked when she was 12," Britt said on "Fox News Sunday." In her State of the Union rebuttal, Britt references "a woman" who "had been sex trafficked by the cartels starting at the age of 12." During the speech, she did not clarify that the crime happened decades ago and that the woman was no longer being sex trafficked. The victim, Karla Jacinto Romero, experienced sex trafficking from 2004 to 2008 in Mexico. Katz and a chorus of online critics lambasted Britt for presenting Jacinto Romero's story as if it happened in the U.S. under Biden's watch. Britt said Sunday that she was using the story to contrast Biden's first 100 days with her own first 100 days in office, during which she said she visited the border three times to meet drug cartel victims. NBC's Saturday Night Live spoofed Britt's speech on Saturday, pointing to her misleading usage of Jacinto Romero's story: "Rest assured every detail about it is real except the year, where it took place and who was president when it happened," actress Scarlett Johansson said playing Britt in the parody. Disclosure: Comcast's NBCUniversal is the parent of NBC and CNBC.
Hiring managers 'spend 25 times longer on your LinkedIn' than your resume, says ex-Amazon recruiter—how to impress them 2024-03-10 15:21:00+00:00 - Recruiters notoriously spend little time on your resume — as little as three-to-five seconds, according to former Disney recruiter Simon Taylor. "Five is generous," he previously told Make it. They're simply too inundated with candidates to dedicate much more. But it turns out that when it comes to your LinkedIn profile, they may be more lenient. "I spend 25 times longer on your LinkedIn profile" than your resume, says Lindsay Mustain, former Amazon recruiter and current CEO of career coaching company Talent Paradigm. That's because the platform offers "a more comprehensive snapshot of a candidate's professional journey," she says. Unlike a resume, they're not limited to one or two pages. She looks at LinkedIn profiles both when she's actively seeking out candidates and when she's not. And there's one component of your profile that makes you stand out among the rest: your activities.
Donald Trump Bemoans $91.6 Million Bond Over Carroll Defamation Suit: 'Sometimes, It's Not Good To Be Rich' - Chubb (NYSE:CB) 2024-03-10 15:05:00+00:00 - Loading... Loading... At a rally in Georgia on Saturday, former President Donald Trump expressed frustration over the financial repercussions of the defamation lawsuit he lost to E. Jean Carroll. The embattled Republican candidate's grievance centered on a January ruling that awarded $83.3 million to Carroll, who says Trump raped her in the 1990s. The subsequent appeal by Trump's legal team required posting a substantial $91.6 million bond to halt Carroll's compensation during the appeals process. Trump vehemently refuted Carroll's accusations as "false" and criticized the legal system for penalizing him for denying them. "Sometimes, it’s not good to be rich. I just posted a $91 million bond on a fake story. Totally made up story. Think of it, 91 million. I could say things about what it would cost normally. Ninety-one million, based on false accusations made about me by a woman that I knew nothing about," he said. "Didn’t know, never heard of. I know nothing about her. She wrote a book, she said things. And when I denied it, I said, 'It’s so crazy. It’s false.' I got sued for defamation. That’s where it starts." Also Read: Millions Of Americans Are Considering A Mass Exodus If Donald Trump Wins Again, Says Report The former president also said that Carroll “is not a believable person” and that U.S. District Judge Lewis Kaplan — who oversaw the defamation trial and whom Trump called "a terrible person, a terrible judge" and “highly corrupt” — knows as much. Trump obtained the $91.6 million bond from insurer Chubb Ltd CB, signing the surety bond with Chubb’s Federal Insurance Co. last week. It delays immediate payment to Carroll but ensures compensation if Trump loses the appeal or doesn't settle the debt. According to a report by the Insurance Journal, Chubb said that “these bonds are an ordinary and important part of the American justice system, protecting the rights of both defendants and plaintiffs.” “For defendants, appeal bonds ensure the opportunity to exercise the right to appeal an adverse judgement, which might otherwise be lost in the absence of a bond," the company added in a statement shared with the Insurance Journal. Last year, Trump was found liable for sexually abusing Carroll and was ordered to pay her $5 million in damages. Now Read: Despite Lead Over Joe Biden, Donald Trump Is Falling Behind In One Respect When It Comes To Battleground States This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo: Shutterstock
The Body Shop files for bankruptcy in the US and Canada 2024-03-10 15:00:00+00:00 - The Body Shop has filed for bankruptcy in the US and Canada and is struggling to pay suppliers in Australia as the group’s most profitable overseas businesses struggle with cash shortages after its UK parent’s collapse last month. The US arm of the ethical cosmetics group has ceased trading at its 50 outlets. On Saturday, it filed for Chapter 7 insolvency, under which assets are sold off to clear debts, putting about 400 jobs at risk including those in a distribution centre that still holds millions of dollars-worth of stock. In Canada, 33 of the 105 shops have closed, with the loss of more than 200 jobs. In Australia, where the group operates almost 100 stores and is responsible for more than 20 more in New Zealand, it is understood that the future of the chain is hanging in the balance as it struggles to cover large debts after its access to funds was cut off. Sources said the profitable business could cover its day-to-day expenses from cashflow but would need additional funds to cover debts to suppliers such as logistics firms, warehouses and marketing agencies for services during its busy Christmas season. The Body Shop’s UK arm collapsed in February, only months after a German private equity group, Aurelius, bought the group founded by the late environmental and human rights campaigner Anita Roddick. The deal was completed in January and the UK business was put into administration less than six weeks later. Sources said that money earned by the key overseas businesses during the peak trading period in November and December was paid into a global account, based in the UK, in a practice termed “cash pooling”. However, funds in the account are now not available to cover debts to suppliers used during that period as access was cut off when the UK parent company called in the accounting firm FRP Advisory as administrators. It is understood that the North American and Australasian businesses are now counted as creditors to the UK arm and may have to wait months for any payment via FRP. A spokesperson for FRP said: “The cash pooling ceased upon The Body Shop International entering into administration with funds then remaining with each subsidiary entity.” It is understood that the Australian business has unsustainable levels of debt which will require new funding. Since the UK business collapsed, FRP has announced the closure of more than 80 of the ethical beauty retailer’s 198 UK stores while more than 300 jobs have been cut from its head office. Aurelius is the top creditor of the UK business and, as it controls the brand rights, is in pole position to reclaim The Body Shop from administrators. Other potentially interested parties are thought to include Next, as well as the HMV owner Doug Putman. The Body Shop’s divisions in Germany, Denmark, Ireland and Belgium have all been put into insolvency, with stores outside Germany closed, after being sold by Aurelius to Alma24. The company is controlled by Friedrich Trautwein, a close associate of Aurelius who has previously helped to shut down unwanted businesses. 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 future of The Body Shop’s operations in Spain, Sweden, France and Austria is unclear amid wrangling over ownership. Filings in Canada reveal that the Body Shop there owed $3.3m (£1.9m) to landlords, logistics, providers, marketing agencies, insurers, utilities and freight service providers when it entered insolvency on 1 March. The company said it no longer had access to its e-commerce platform or the ability to ship to wholesale partners including Amazon or to receive new stocks because of difficulties in paying suppliers. The problems come as it emerges that Aurelius has so far paid less than £100m of the headline £207m price for The Body Shop. Only part of the agreed £117m initial purchase price has been so far handed over to the group’s former owner Natura, with the rest due over the coming five years. A further £90m is due only if certain performance criteria are met over that period, and so may never be paid. Administrators are understood to be investigating a claim that more than £10m was extracted from The Body Shop’s UK arm in December by Natura. The money is understood to linked to debts owed by its former subsidiary which sources said had been laid out in the sale agreement between Natura and Aurelius.
What to know about the SAVE plan, the income-driven plan to repay student loans 2024-03-10 14:51:31+00:00 - NEW YORK (AP) — More than 75 million student loan borrowers have enrolled in the U.S. government’s newest repayment plan since it launched in August. President Joe Biden recently announced that he was canceling federal student loans for nearly 153,000 borrowers enrolled in the plan, known as the SAVE plan. Forgiveness was granted to borrowers who had made payments for at least 10 years and originally borrowed $12,000 or less. The SAVE plan was created last year to replace other existing income-based repayment plans offered by the federal government. More borrowers are now eligible to have their monthly payments reduced to $0, and many will qualify for lower payments compared to other repayment plans. For Lauran Michael and her husband, the SAVE plan has reduced student loan payments by half. Since getting married, they’ve both been paying off her husband’s student loans, which would have amounted to about $1,000 a month when payments resumed after a pause during the pandemic. Under the SAVE plan, their payments are now $530 a month. “We don’t want our loans dictating our life choices, and us not being able to do other things because we’re paying so much money. The SAVE plan is definitely a game changer for us,” said Michael, a 34-year-old interior designer in Raleigh, North Carolina. Michael’s family is paying for daycare for their two children using the money they saved from not making payments during the pandemic and the reduced payments under the SAVE plan. If you are interested in applying for the SAVE plan, here’s what you need to know: WHAT IS AN INCOME-DRIVEN REPAYMENT PLAN? The U.S. Education Department offers several plans for repaying federal student loans. Under the standard plan, borrowers are charged a fixed monthly amount that ensures all their debt will be repaid after 10 years. But if borrowers have difficulty paying that amount, they can enroll in one of several plans that offer lower monthly payments based on income and family size. Those are known as income-driven repayment plans. Income-driven options have been offered for years and generally cap monthly payments at 10% of a borrower’s discretionary income. If a borrower’s earnings are low enough, their bill is reduced to $0. And after 20 or 25 years, any remaining debt gets erased. HOW IS THE SAVE PLAN DIFFERENT? More borrowers in the SAVE plan are eligible for $0 payments. This plan won’t require borrowers to make payments if they earn less than 225% of the federal poverty line — $32,800 a year for a single person. The cutoff for other plans, by contrast, is 150% of the poverty line, or $22,000 a year for a single person. Also, the SAVE plan prevents interest from piling up. As long as borrowers make their monthly payments, their overall balance won’t increase. Once they cover their adjusted monthly payment — even if it’s $0 — any remaining interest is waived. Other major changes will take effect in July 2024. Payments on undergraduate loans will be capped at 5% of discretionary income, down from 10% now. Those with graduate and undergraduate loans will pay between 5% and 10%, depending on their original loan balance. The maximum repayment period is capped at 20 years for those with only undergraduate loans and 25 years for those with any graduate school loans. WHO QUALIFIES FOR THE SAVE PLAN? The SAVE plan is available to all student loan borrowers in the Direct Loan Program who are in good standing on their loans. Read more about the SAVE plan here. HOW DO I APPLY FOR THE SAVE PLAN? Borrowers can apply to the SAVE plan using the Income-Driven Repayment Plan request through the Education Department’s website. HOW WILL I KNOW THAT MY DEBT HAS BEEN CANCELED? If you are one of the borrowers who is benefitting from forgiveness under the SAVE plan, you will receive an email from the Education Department. WHAT ARE OTHER PROGRAMS THAT CAN HELP WITH STUDENT LOAN DEBT? If you’ve worked for a government agency or a nonprofit, the Public Service Loan Forgiveness program offers cancellation after 10 years of regular payments, and some income-driven repayment plans cancel the remainder of a borrower’s debt after 20 to 25 years. Borrowers should make sure they’re signed up for the best possible income-driven repayment plan to qualify for these programs. Borrowers who have been defrauded by for-profit colleges may also apply for relief through a program known as Borrower Defense. If you’d like to repay your federal student loans under an income-driven plan, the first step is to fill out an application through the Federal Student Aid website. WILL THERE BE FUTURE FORGIVENESS? Several categories of borrowers would be eligible for relief under Biden’s second try at widespread cancellation after the Supreme Court rejected his first plan last year. The proposed plan includes relief for borrowers who have been paying their loans for at least 20 or 25 years, automatic forgiveness for borrowers who are eligible for income-driven repayment plans but are not enrolled, and loan cancellation for borrowers who attended a for-profit college that left them unable to pay their student loans, among others. Whether any of the relief will materialize is a looming question as conservatives vow to challenge any attempt at mass student loan cancellation. The new proposal is narrower, focusing on several categories of borrowers who could get some or all of their loans canceled, but legal challenge is almost certain. Currently, borrowers who are eligible for forgiveness under the SAVE program will get their loans discharged on a rolling basis, according to the Education Department. ___ The Associated Press receives support from Charles Schwab Foundation for educational and explanatory reporting to improve financial literacy. The independent foundation is separate from Charles Schwab and Co. Inc. The AP is solely responsible for its journalism.