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Trump Media stock falls more than 21% after company discloses $58 million loss for 2023 None - Less than a week after a flashy stock market debut, Donald Trump’s social media company has disclosed that it lost nearly $58.2 million last year, sending its stock tumbling more than 21% NEW YORK -- Less than a week after a flashy stock market debut, Donald Trump's social media company on Monday disclosed that it lost nearly $58.2 million last year, sending its stock tumbling more than 21%. Losses in 2023 for Trump Media & Technology Group — whose flagship product is Truth Social — mark a stark decline compared with the profit of $50.5 million that the former president's company reported for 2022, according to a company filing with securities regulators. Revenue for Trump Media came in at $4.1 million in 2023, the SEC filing shows, although that's up from $1.5 million in 2022. After merging with a blank-check company called Digital World Acquisition Corp., Trump Media began trading March 26 on the Nasdaq stock market under ticker symbol DJT. And it's been a volatile ride. Trump Media's shares soared in their first couple days of trading — surpassing $79 at one point — but have since fallen closer to their initial offering price of $49.95. The company's stock closed at $48.66 after Monday's sell-off, meaning a lot of early investors are taking a hit. Industry analysts have compared the fervor around Florida-based Trump Media to the meme stock craze, which notably boosted shares of struggling companies such as GameStop and the movie chain AMC Entertainment to exorbitant heights in 2021. On Monday, shares for these so-called meme stocks slid as well, with GameStop and AMC down more than 4% and 15%, respectfully, at market close. And Reddit, another company that recently went public and has since been looped into meme stock frenzy comparisons, slumped nearly 7%. Trump’s social media site had been seen as a potential financial lifeline for the presumptive Republican presidential nominee as he faces an unprecedented onslaught of legal and financial challenges. In addition to four criminal cases — which each come with their own expensive lawyers — Trump faces a $454 million-plus civil fraud penalty after a New York state judge ruled that he and others at his company had schemed for years to dupe banks, insurers and others by inflating his wealth on financial statements. Last week, Trump won a break when an appeals court cut the amount he needs to put up to pause collection while he appeals to $175 million, which Trump has said he will be able to cover. But he must come up with the money by Thursday. Trump previously put up a $92 million bond after he was found liable for sexually assaulting and defaming writer E. Jean Carroll. The money is meant to ensure that she will receive a jury award for his verbal attacks against her if it survives appeals. How much cash Trump will have left at the end of the week is unclear. Trump reported having about $294 million in cash or cash equivalents on his most recent annual financial statement for the fiscal year ending June 30, 2021. After that, according to New York state lawyers, he added about $186.8 million from selling the lease on his Washington hotel in May 2022 and the rights to manage a New York City golf course in June 2023. Trump Media's move into the public market could also net the former president billions on paper — although there hasn't been an immediate payout yet. In Monday’s filing, the company did not announce any changes to the provision that prevents insiders such as Trump from selling their shares for six months following its stock market debut. Still, some experts have speculated that the board might waive the provision for Trump and allow him to sell shares to help cover his legal bills. _________ Associated Press writer Jill Colvin in New York contributed to this report.
A Kansas paper and its publisher are suing over police raids. They say damages exceed $10M None - A weekly central Kansas newspaper and its publisher have filed a federal lawsuit over police raids last summer of its offices and the publisher’s home A Kansas paper and its publisher are suing over police raids. They say damages exceed $10M TOPEKA, Kan. -- A weekly central Kansas newspaper and its publisher filed a federal lawsuit Monday over police raids last summer of its offices and the publisher's home, accusing local officials of trying to silence the paper and causing the death of the publisher's 98-year-old mother. The lawsuit did not include a specific figure for potential damages. However, in a separate notice to local officials, the paper and its publisher said they believe they are due more than $10 million. The lawsuit from the Marion County Record's parent company and Eric Meyer, its editor and publisher, accuses the city of Marion, the Marion County Commission and five current and former local officials of violating free press rights and the right to be free from unreasonable law enforcement searches guaranteed by the U.S. Constitution. The lawsuit also notified the defendants that Meyer and the newspaper plan to add other claims, including that officials wrongly caused the death of Meyer's mother the day after the raids, which the lawsuit attributes to a stress-induced heart attack. The raids put Marion, a town of about 1,900 people set among rolling prairie hills about 150 miles (241 kilometers) southwest of Kansas City, Missouri, at the center of a national debate over press freedoms. It also highlighted the intense divisions over a newspaper known for its aggressive coverage of local issues and its strong criticism of some officials. The city's former police chief — who later resigned amid the ongoing furor — justified the Aug. 11 raids by saying he had probable cause to believe the newspaper and a reporter potentially committed identity theft and other computer crimes in obtaining and verifying information about a local business owner's driving record. The lawsuit claims the paper and its reporters did nothing illegal, the search warrants were improper and officials had longstanding grudges against the newspaper. “The last thing we want to do is bankrupt the city or county, but we have a duty to democracy and to countless news organizations and citizens nationwide to challenge such malicious and wanton violations,” Meyer said in a statement. The city of Marion's budget for 2023 was about $8.7 million, while the county's budget was about $35 million. Besides the city, defendants in the lawsuit include former Marion Mayor David Mayfield, who retired from office in January; former Police Chief Gideon Cody, who stepped down in October; and current Acting Police Chief Zach Hudlin, who as an officer participated in the raids. Marion County Sheriff Jeff Soyez, the county commission and a former deputy who helped draft the search warrants used in the raids are the other defendants named. The newspaper had investigated Cody's background before the city hired him last year. The lawsuit alleges Soyez regularly said that he did not approve of Meyer’s “negative attitude.” The newspaper's attorney, Bernie Rhodes, noted that when police raided the home that Meyer and his mother shared, she told the former police chief, “Boy, are you going to be in trouble.” “My job is to make sure Joan's promise is kept,” Rhodes said in his own statement. Jennifer Hill, an attorney representing the city and former and current city officials, declined to comment. Jeffrey Kuhlman, an attorney representing the county commission, the sheriff and his former deputy, said he couldn't comment because he hasn't had time to review the lawsuit. The lawsuit from Meyer and the newspaper was the fourth filed in federal court in Kansas over the police raids, which also involved sheriff's deputies and even an officer from the state fire marshal's office. Deb Gruver, now a former reporter, filed the first lawsuit less than three weeks after the raids, and a trial is set for September 2025. Current Record reporter Phyllis Zorn filed the second lawsuit in February, and the defendants want it dismissed. The third was filed last week by Cheri Bentz, the newspaper's office manager. The latest lawsuit says it was filed to seek justice over “intolerable” violations of constitutional rights and "to deter the next crazed cop from threatening democracy.” While federal civil rights laws allowed Meyer and the newspaper to sue immediately, Kansas law requires parties intending to sue local governments to give them 120 days' notice so that officials can pay the claim first. In a 10-page notice, Rhodes said Meyer is due reimbursement for his mother's funeral expenses; the newspaper, for harm to its accounting system; and both, for their legal expenses. The notice also says that Meyer and his mother suffered “extreme and severe distress" and that their estate is entitled to $4 million in damages for that. It also argues that the newspaper deserves $2 million for its damages and punitive damages should exceed $4 million. “Many of those who perpetrated storm-trooper style bullying with a needlessly huge contingent of armed officers remain in office or have been promoted,” Meyer said in his statement. “Even newly elected officials have refused to disavow the tactics used.”
IRS claws back money given to businesses under fraud-ridden COVID-era tax credit program None - The IRS says it’s making progress with initiatives to claw back money improperly distributed under the Employee Retention Credit NEW YORK -- The IRS says it's making progress with initiatives to claw back money improperly distributed under the Employee Retention Credit. The ERC was designed to help businesses retain employees during pandemic-era shutdowns, but it quickly became a magnet for fraud. Its complex eligibility rules allowed scammers to target small businesses, offering help applying for the ERC for a fee — even if they didn't qualify. The IRS said it received $225 million from a voluntary disclosure program, which ended on March 22, that let small businesses that thought they received the credit in error give back the money and keep 20%. That money came from over 500 taxpayers with another 800 submissions still being processed. An ongoing program that lets small businesses withdraw unprocessed claims has led to 1,800 businesses withdrawing $251 million worth of claims. And finally, the IRS has assessed $572 million in audits of more than 12,000 businesses that filed over 22,000 improper claims. “We remain deeply concerned about widespread abuse involving these claims that have harmed small businesses,” said IRS Commissioner Danny Werfel. “We are encouraged by the results so far of our initiatives designed to help misled businesses.” The IRS stopped processing new claims in September, but said it will likely resume processing sometime this spring. An additional $3 billion in claims is being reviewed by IRS Criminal Investigation.
On French Riviera hillsides, the once-dominant Menton lemon gets squeezed by development None - When the French Riviera town of Menton prepares to host its lemon festival each year, it needs more than 140 tons of citrus for the showy floats and park displays that attract thousands of spectators MENTON, France -- When the French Riviera town of Menton prepares to host its lemon festival each year, it assembles more than 140 tons of citrus to build the ornate floats and showy park displays that attract thousands to the Fete du Citron. But none of it is the actual Menton lemon, a prized variety whose fans included King Louis XIV, who enjoyed drinking its juice and bathing in its essential oils. They’re too precious — and there aren’t enough of them, either. “Honestly, we prefer that people taste our lemons rather than look at them on display,” said Marine Krenc, an events manager for Menton’s tourism office. Menton was once a leading lemon-growing region in Europe, with a global reputation and exports as far as the United States and Russia in the 18th century. But that was before the French Revolution led to cancellation of laws that protected Menton from competition from other lemon-growing regions, and before the Riviera’s rise as a playground for tourists and the wealthy led to hotels and villas steadily displacing orchards and farmland. These days, only 56 small producers still grow the high-end lemons, and some worry that a warming climate will add to their challenges in coming years. When Pierre Ciabaud, a sixth-generation lemon-grower, was looking for a job that would support a family in the 1960s, he had to break with family tradition. He set up a hardware and appliance store to make ends meet. Now retired, he tends the family’s grove on one of the last remaining lemon hills overlooking the city of Menton and its built-up Mediterranean coast dotted with private swimming pools. “The valleys of Menton used to be covered with lemon groves, there were trees everywhere,” Ciabaud said. Now, he said, "The land is sold to developers and all you see are buildings.” He recalls his father collecting a ton and a half of lemons every 20 days. The region’s annual production now is about 200 tons. “A young person today would not be able to live from lemon farming,” Ciabaud said. The region nestles between the French southern Alps and the Mediterranean Sea, covering about 100 hectares (247 acres) and stretching beyond Menton's municipal boundaries into Roquebrune, Sainte-Agnès and Castellar. The mild climate — from a protective mountain range, proximity to the sea and steady sunshine with moderate rain during winter months — and sandstone-rich soil give the Menton lemon its distinct flavor: acidic, but neither bitter nor sweet, and with a lemongrass scent in its zest. They're bigger than most lemons, with a thicker skin. During the lemon festival, visitors to La Casetta, a city-owned orchard, were treated to a taste of the Menton lemon by a caretaker who handed out slices. One woman took her slice, inhaled its scent for a long moment, then took a bite before handing it to a companion. Krenc calls it “our caviar." Mauro Colagreco, a celebrity chef who operates a three-Michelin-star restaurant, Le Mirazur, in Menton, has praised it and features it in fish dishes and desserts. The Menton lemon got a boost in 2015 when the European Union granted it the protection of a geographical indicator, which aids in marketing the lemons and is intended to guard against lesser varieties misusing the name. It's the only lemon in France to carry such an indicator. Laurent Gannac has been growing lemons for 30 years, since he first moved to the region as a landscaper. He started from scratch on an uncultivated plot of 2.5 hectares (about 6 acres), and spent years clearing and terracing the land, planting 400 trees and setting up an irrigation system. He said he has benefited from the geographical indicator, but both he and Ciabaud worry about climate change. This part of France has endured three years of drought, and seen rising temperatures and scrambling of seasons, though it hasn't yet hurt the lemon crop. Snowmelt from the mountains has helped so far. But farmers will have to adapt to rising temperature if they want to continue producing the lemons, he said. “Our goal for the Menton lemons is that they land on a plate, in a restaurant, or in a gourmet jam for select customers," Gannac said. ___ The Associated Press’ climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.
The Tropicana Las Vegas, a mob-era casino and Sin City landmark, closes after 67 years None - In its heyday, the Tropicana Las Vegas was known for its opulence LAS VEGAS -- In the 1971 film “Diamonds are Forever,” James Bond stays in a swanky suite at the Tropicana Las Vegas. “I hear that the Hotel Tropicana is quite comfortable,” Agent 007 says. It was the Tropicana's heyday. The lavish casino was a frequent haunt of the legendary Rat Pack, while its past under the mob cemented its place in Vegas lore. But after welcoming guests for 67 years, the doors to the Las Vegas Strip's third-oldest casino were chained shut on Tuesday. Demolition is slated for October to make room for a $1.5 billion Major League Baseball stadium — part of the city's latest rebrand as a hub for sports entertainment. Robert “Videobob” Moseley was among the final guests to check out of the Tropicana before it closes for good at lunchtime. Sad to see the landmark go, Moseley paid $600 for a standard room and spent the previous night at the casino with friends. “We're losing this iconic part of Vegas," Moseley said. “They're gonna kill Vegas.” Charlie Granado, a bartender at the Tropicana, said it's a bittersweet ending for the place he's called a second home for 38 years. “It’s time. It’s ran its course,” Granado said. “It makes me sad but on the other hand, it’s a happy ending.” The population of Clark County, which includes Las Vegas, had just surpassed 100,000 when the Tropicana opened on a Strip surrounded by vast, open desert. It cost $15 million to build three stories with 300 rooms split into two wings. Its manicured lawns and flashy showroom earned it the nickname “Tiffany of the Strip.” There was a towering tulip-shaped fountain near the entrance, mosaic tiles and mahogany-paneled walls throughout. Black and white photographs from that time give a view into what it was like inside the walls of the Tropicana at its height when it played host to A-list stars — from Elizabeth Taylor and Debbie Reynolds to Frank Sinatra and Sammy Davis Jr. Mel Tormé and Eddie Fisher performed at the Tropicana. Gladys Knight and Wayne Newton have held residencies there. In a city known for reinvention, the Tropicana itself underwent major changes as Las Vegas evolved. Two hotel towers were added in later years. In 1979, the casino's now-beloved $1 million green-and-amber stained glass ceiling was installed above the casino floor. Barbara Boggess was 26 when she started working at the Tropicana in 1978 as a linen room attendant. “The Tropicana was pretty much sitting here all by itself,” Boggess said. “It was desert all around. It used to take me 10 minutes to get to work. Now it takes an hour.” Now 72, Boggess has seen the Tropicana through its many iterations. There was the 1980s rebrand as “The Island of Las Vegas,” with a swim-up blackjack table at the pool, and the South Beach-themed renovation completed in 2011. Today, only the low-rise hotel room wings remain of the original Tropicana structure. Yet the casino still conjures up vintage Vegas nostalgia. “It does give an old Vegas vibe. When you first walk in, you see the stained glass and the low ceilings," JT Seumala, a Las Vegas resident who visited the casino in March, said. "It does feel like you step back in time for a moment.” Seumala and his husband stayed at the Tropicana as a way to pay tribute to the landmark. They roamed the casino floor and hotel, turning down random hallways and exploring the convention center. They tried their luck at blackjack and roulette and made conversation with a cocktail server who had worked there for 25 years. At the end of their stay, they pocketed a few red $5 poker chips to remember the mob-era casino. Behind the scenes of the casino’s opening decades ago, the Tropicana had ties to organized crime, largely through reputed mobster Frank Costello. Weeks after the grand opening, Costello was shot in the head in New York. Police found in his coat pocket a piece of paper with the Tropicana’s exact earnings figure and mention of “money to be skimmed” for Costello’s associates, according to The Mob Museum. By the 1970s, federal authorities investigating mobsters in Kansas City charged more than a dozen mob operatives with conspiring to skim nearly $2 million in gambling revenue from Las Vegas casinos, including the Tropicana. Charges connected to the Tropicana alone resulted in five convictions. But the famed hotel-casino also saw many years of mob-free success. It was home to the city's longest running show, “Folies Bergere.” The topless revue, imported from Paris, featured what is now one of the most recognizable Las Vegas icons: the feathered showgirl. During its nearly 50-year run, “Folies Bergere” featured elaborate costumes and stage sets, original music that at one time was played by a live orchestra, line dancers, magic shows, acrobats and comedy. The cabaret was featured in the 1964 Elvis Presley film “Viva Las Vegas.” Today, the site at the south end of the Las Vegas Strip intersects with a major thoroughfare named for the Tropicana. It is surrounded by towering megaresorts that Las Vegas is now known for. But nearby are the homes of the NFL’s Las Vegas Raiders, who left Oakland, California, in 2020, and the city’s first major league professional team, the NHL’s Vegas Golden Knights. The ballpark planned for the land beneath the Tropicana is expected to open in 2028. “There’s a lot of controversy as far as if it should stay or should it go,” Seumala said. “But the thing that I do love about Vegas is that it’s always reinventing itself.”
Trader Joe's upped the price of its bananas for the first time in decades. Here's why None - It may not be too “appeeling,” but the price of some bananas are rising by a few cents Trader Joe's upped the price of its bananas for the first time in decades. Here's why NEW YORK -- It may not be too “appeeling,” but the price of some bananas are rising by a few cents. Trader Joe's recently upped the price for a single banana to 23 cents, a 4-cent — or 21% — increase from the grocer's previous going rate for the fruit that had remained unchanged for over 20 years. “We only change our prices when our costs change, and after holding our price for Bananas at 19¢ each for more than two decades, we’ve now reached a point where this change is necessary,” a spokesperson for the chain based in Monrovia, California, said. In contrast to other foods more heavily impacted by inflation, bananas have stayed relatively affordable over time — with average global prices never exceeding more than about 80 cents per pound (0.45 kilograms). Still, banana prices have seen some jumps in recent years. And it's not just impacting Trader Joe's shoppers. In the U.S., the cost of a pound of bananas averaged at about 63 cents last month. That's only 3 cents more than it was a decade ago, government data shows, but about 6 cents higher than prices reported at the start of 2020, in the months before COVID-19 was declared a global pandemic. Around the world, banana prices saw their most notable pandemic-era spikes in 2022 — with the global average price per metric ton increasing by more than $520 over the course of that year, according to the Federal Reserve Bank of St. Louis, citing International Monetary Fund numbers. Those prices drifted back down some in 2023, but still remain elevated. “Bananas are a very popular fruit among consumers, so retailers try to keep prices low,” Neil Saunders, managing director at research firm GlobalData, notes. “However, prices cannot defy gravity forever and (we are) now starting to see retailers like Trader Joe’s make adjustments.” One of the main reasons behind these increases is the rising cost of farming bananas, Saunders added, noting that fertilizer, pesticide and transportation prices have all gone up due to general inflation. At the same time, demand for bananas has been growing, he said. That creates an imbalance with supply as exporters face pressures of higher costs, greater prevalence of disease impacting plants and unfavorable weather conditions. The World Banana Forum, part of the United Nations' Food and Agriculture Organization, has pointed to growing effects of global warming, including higher instances of drought and natural disasters, that make banana production “increasingly difficult, uncertain and costly." Such concerns go well-beyond bananas. Researchers expect food prices and inflation overall to rise as temperatures climb with climate change.
British Steel wins multimillion-pound contract for Egyptian rail project None - British Steel has won a multimillion-pound contract to supply rail for a new route in north Africa, the company has announced. Approximately 9,500 tonnes of track, produced in Scunthorpe, will be provided for Egypt’s first fully electrified mainline and freight network which stretches from the Red Sea to the Mediterranean. The network is 410 miles (660km) long and will carry trains for passengers and goods up to a maximum speed of 155mph. British Steel is among a number of suppliers providing rail to the project. British Steel’s commercial export manager for rail, Jérôme Bonef, said: “We are delighted British Steel has been awarded this contract and to be involved in such a transformational project for Egypt, which will bring significant improvements to the transport network. “The British Steel rail business prides itself on providing value solutions to our customers, being easy to trade with while providing on-time deliveries with world-leading quality.” Two shipments will be transported from British Steel to the north Egyptian port of Alexandria this month and in June.
‘No more delays’: Judge denies Trump immunity claim in hush money case None - Lisa Rubin, MSNBC Legal Correspondent joins Nicolle Wallace on Deadline White House with the breaking news that Judge Juan Merchan has denied the presidential immunity claim he tried to make in regards to the NY hush money case, a major step in ensuring the trial commences on April 15, with no more delays.April 3, 2024
Texas lawyer admits state may have gone 'too far' with immigration law None - Texas lawyer admits state may have gone 'too far' with immigration law An appeals court heard arguments over enforcement of Texas' controversial immigration law that would grant law enforcement the ability to arrest and deport undocumented migrants. NBC News' Ken Dilanian reports on the arguments made and how a Texas lawyer defending the law admitted it may have gone "too far."April 3, 2024
Suspect in FBI Georgia gate crash allegedly linked to QAnon None - A new report claims that the suspect in the FBI Atlanta gate crash had social media accounts with connections to QAnon.April 3, 2024
Maritime terminal prepares for influx of redirected ships as Baltimore bridge cleanup continues None - The only maritime shipping terminal currently operating in the Port of Baltimore is preparing to process an influx of redirected ships as crews continue clearing the wreckage of the collapsed Francis Scott Key Bridge BALTIMORE -- The only maritime shipping terminal currently operating in the Port of Baltimore is preparing to process an influx of ships as crews continue clearing the mangled wreckage of the collapsed Francis Scott Key Bridge. Tradepoint Atlantic will unload and process an estimated 10,000 vehicles over the next 15 days, according to a company statement. That includes six regularly scheduled ships and nine others redirected as access to the port’s main terminals remains blocked, posing a logistical nightmare for shipping along the East Coast. Crews opened a second temporary channel through the collapse site Tuesday, but it’s too shallow for most commercial vessels. The two alternate channels are meant primarily to aid in the cleanup effort. Work continues to open a third channel that will allow larger vessels to pass through the bottleneck and restore more commercial activity, officials said. Meanwhile, bad weather has hindered salvage operations in recent days. The Patapsco River is also very murky, severely limiting the visibility of divers. The bridge fell March 26 after being struck by the cargo ship Dali, which lost power shortly after leaving Baltimore, bound for Sri Lanka. The ship issued a mayday alert with just enough time for police to stop traffic, but not enough to save a roadwork crew filling potholes on the bridge. Authorities believe six of the workers plunged to their deaths in the collapse, including two whose bodies were recovered last week. Two others survived. The ship remains stationary, its 21 crew members still aboard. Viewed close up from the deck of a Coast Guard boat, the scope of the catastrophe emerged through heavy fog Wednesday afternoon: Massive steel bridge girders were twisted like ribbons while crushed metal shipping containers dangled perilously from the stalled cargo ship. Fallen street lights that once lined the bridge jutted like toothpicks from the water’s surface. The sheer volume of debris dwarfed even the cranes and barges involved in the cleanup. And that’s only the view from above; officials said underwater conditions are significantly more challenging. Divers are still trying to get a sense of the tangled, muddy web. Sonar is being used to map the wreckage on the river bottom in 50 feet (15 meters) of water. A large floating crane nicknamed “Chessy” is helping with the salvage. Crews will soon begin lifting undamaged containers off the ship before removing the chunks of steel and concrete embedded in its bow, U.S. Coast Guard Rear Admiral Shannon Gilreath said at a news conference. The Maryland Senate is moving swiftly to pass a bill that would provide financial assistance to port employees without work who aren’t covered under unemployment insurance. The bill also would let the governor use state reserves to help some small businesses avoid layoffs and encourage companies that relocate elsewhere to return to Baltimore once the port reopens. President Joe Biden is expected to visit the collapse site Friday. Other vessels are also stuck in Baltimore’s harbor until shipping traffic can resume through the port, which is one of the largest on the East Coast and a symbol of the city’s maritime culture. It handles more cars and farm equipment than any other U.S. port. ___ Contributing to this report were Associated Press writers Brian Witte in Annapolis and Sarah Brumfield in Washington.
Uranium is being mined near the Grand Canyon as prices soar and the US pushes for more nuclear power None - The largest uranium producer in the United States is ramping up work at a mine less than 10 miles from the rim of the Grand Canyon Uranium is being mined near the Grand Canyon as prices soar and the US pushes for more nuclear power The largest uranium producer in the United States is ramping up work just south of Grand Canyon National Park on a long-contested project that largely has sat dormant since the 1980s. The work is unfolding as global instability and growing demand drive uranium prices higher. The Biden administration and dozens of other countries have pledged to triple the capacity of nuclear power worldwide in their battle against climate change, ensuring uranium will remain a key commodity for decades as the government offers incentives for developing the next generation of nuclear reactors and new policies take aim at Russia's influence over the supply chain. But as the U.S. pursues its nuclear power potential, environmentalists and Native American leaders remain fearful of the consequences for communities near mining and milling sites in the West and are demanding better regulatory oversight. Producers say uranium production today is different than decades ago when the country was racing to build up its nuclear arsenal. Those efforts during World War II and the Cold War left a legacy of death, disease and contamination on the Navajo Nation and in other communities across the country, making any new development of the ore a hard pill to swallow for many. The new mining at Pinyon Plain Mine near the Grand Canyon's South Rim entrance is happening within the boundaries of the Baaj Nwaavjo I’tah Kukv National Monument that was designated in August by President Joe Biden. The work was allowed to move forward since Energy Fuels Inc. had valid existing rights. Low impact with zero risk to groundwater is how Energy Fuels spokesman Curtis Moore describes the project. The mine will cover only 17 acres (6.8 hectares) and will operate for three to six years, producing at least 2 million pounds (about 907,000 kilograms) of uranium — enough to power the state of Arizona for at least a year with carbon-free electricity, he said. “As the global outlook for clean, carbon-free nuclear energy strengthens and the U.S. moves away from Russian uranium supply, the demand for domestically sourced uranium is growing,” Moore said. Energy Fuels, which also is prepping two more mines in Colorado and Wyoming, has produced about two-thirds of the uranium in the U.S. in the last five years. In 2022, it was awarded a contract to sell $18.5 million in uranium concentrates to the U.S. government to help establish the nation’s strategic reserve for when supplies might be disrupted. The ore extracted from the Pinyon Plain Mine will be transported to Energy Fuels’ mill in White Mesa, Utah — the only such mill in the U.S. Amid the growing appetite for uranium, a coalition of Native Americans testified before the Inter-American Commission on Human Rights in late February, asking the panel to pressure the U.S. government to overhaul outdated mining laws and prevent further exploitation of marginalized communities. Carletta Tilousi, who served for years on the Havasupai Tribal Council, said she and others have written countless letters to state and federal agencies and sat through hours of meetings with regulators and lawmakers. Her tribe's reservation lies in a gorge off the Grand Canyon. “We have been diligently participating in consultation processes,” she said. “They hear our voices. There’s no response.” A group of hydrology and geology professors and nuclear watchdogs sent Arizona Gov. Katie Hobbs a letter in January, asking she reconsider permits granted by state environmental regulators that cleared the way for the mine. She has yet to respond and her office declined to answer questions from The Associated Press. Lawyers for Energy Fuels said in a letter to state officials that reopening the permits would be an improper attempt to side step Arizona’s administrative procedures and rights protecting permit holders from “such politicized actions.” The environmentalists' request followed a plea weeks earlier by the Havasupai saying mining at the foot of Red Butte will compromise one of the tribe's most sacred spots. Called Wii’i Gdwiisa by the Havasupai, the landmark is central to tribal creation stories and also holds significance for the Hopi, Navajo and Zuni people. “It is with heavy hearts that we must acknowledge that our greatest fear has come true,” the Havasupai said in a January statement, reflecting on concerns that mining could affect water supplies, wildlife, plants and geology throughout the Colorado Plateau. The Colorado River flowing through the Grand Canyon and its tributaries are vital to millions of people across the West. For the Havasupai Tribe, their water comes from aquifers deep below the mine. The U.S. Geological Survey recently partnered with the Havasupai Tribe to examine contamination possibilities that could include exposure through inhalation and ingestion of traditional food and medicines, processing animal hides or absorption through materials collected for face and body painting. Legal challenges aimed at stopping the Pinyon Plain Mine repeatedly have been rejected by the courts, and top officials in the Biden administration are reticent to weigh in beyond speaking generally about efforts to improve consultation with Native American tribes. It marks another front in an ongoing battle over energy development and sacred lands, as tribes in Nevada and Arizona are fighting the federal government over the mining of lithium and the siting of renewable energy transmission lines. The Pinyon Plain Mine, formerly known as the Canyon Mine, was permitted in 1984. Because it retained existing rights, the mine effectively became grandfathered into legal operation despite a 20-year moratorium placed on uranium mining in the Grand Canyon region by the Obama administration in 2012. The U.S. Forest Service in 2012 reaffirmed an environmental impact statement that had been prepared for the mine years earlier, and state regulators signed off on air and aquifer protection permitting within the past two years. “We work extremely hard to do our work at the highest standards," Moore said. “And it’s upsetting that we’re vilified like we are. The things we're doing are backed by science and the regulators.” The regional aquifers feeding the springs at the bottom of the Grand Canyon are deep — around 1,000 feet (304 meters) below the mine — and separated by nearly impenetrable rock, Moore said. State regulators also have said the geology of the area is expected to provide an element of natural protection against water from the site migrating toward the Grand Canyon. Environmental reviews conducted as part of the permitting process have concluded the mine's operation won't affect visitors to the national park, area residents or groundwater or springs associated with the park. Still, environmentalists say the mine raises a bigger question about the Biden administration's willingness to adopt policies favorable of nuclear power. The U.S. Commerce Department under the Trump administration issued a 2019 report describing domestic production as essential to national security, citing the need to maintain the nuclear arsenal and keep commercial nuclear reactors fueled to generate electricity. At that point, nuclear reactors supplied nearly 20% of the electricity consumed in the U.S. The Biden administration is staying the course. It's in the midst of a multibillion-dollar modernization of the nation's nuclear defense capabilities, and the U.S. Energy Department on Wednesday offered a $1.5 billion loan to the owners of a Michigan power plant to restart the shuttered facility, which would mark a first in the U.S. Taylor McKinnon, the Center for Biological Diversity's Southwest director, said pushing for more nuclear power and allowing mining near the Grand Canyon ”makes a mockery of the administration's environmental justice rhetoric." “It’s literally a black eye for the Biden administration,” he said. Using nuclear power to reach emissions goals is a hard sell in the western U.S. From the Navajo Nation to Ute Mountain Ute and Oglala Lakota homelands, tribal communities have deep-seated distrust of uranium companies and the federal government as abandoned mines and related contamination have yet to be cleaned up. A complex of mines on the Navajo Nation recently was added to the federal Superfund list. The eastern edge of the reservation also is home to the largest radioactive accident in U.S. history. In 1979, more than 93 million gallons (350 million liters) of radioactive and acidic slurry spilled from a tailings disposal pond, contaminating water supplies, livestock and downstream communities. It was three times the radiation released at the Three Mile Island accident in Pennsylvania just three months earlier. Teracita Keyanna with the Red Water Pond Road Community Association got choked up while testifying before the human rights commission in Washington, D.C., saying federal regulators proposed keeping contaminated soil onsite rather than removing it. “It's really unfair that we have to deal with this and my children have to deal with this and later on, my grandchildren have to deal with this,” she said. “Why is the government just feeling like we're disposable. We're not.” There is bipartisan backing in Congress for nuclear power, but some lawmakers who come from communities blighted by contamination are digging in their heels. Congresswoman Cori Bush of Missouri said during a congressional meeting in January that lawmakers can't talk about expanding nuclear energy in the U.S. without first dealing with the effects that nuclear waste has had on minority communities. Bush pointed to her own district in St. Louis, where waste was left behind from the uranium refining required by the top-secret Manhattan Project. “We have a responsibility to both fix — and learn from — our mistakes," she said, “before we risk subjecting any other communities to the same exposure.” ___ Montoya Bryan reported from Albuquerque, New Mexico. Associated Press writer Walter Berry in Phoenix contributed to this report.
Who wouldn't like prices to start falling? Careful what you wish for, economists say None - Many Americans are in a sour mood about the economy for one main reason: Prices feel too high Who wouldn't like prices to start falling? Careful what you wish for, economists say WASHINGTON -- Many Americans are in a sour mood about the economy for one main reason: Prices feel too high. Maybe they're not rising as fast as they had been, but average prices are still painfully above where they were three years ago. And they're mostly heading higher still. Consider a 2-liter bottle of soda: In February 2021, before inflation began heating up, it cost an average of $1.67 in supermarkets across America. Three years later? That bottle is going for $2.25 — a 35% increase. Or egg prices. They soared in 2022, then fell back down. Yet they're still 43% higher than they were three years ago. Likewise, the average used-car price: It rocketed from roughly $23,000 in February 2021 to $31,000 in April 2022. By last month, the average was down to $26,752. But that's still up 16% from February 2021. Wouldn’t it be great if prices actually fell — what economists call deflation? Who wouldn't want to fire up a time machine and return to the days before the economy rocketed out of the pandemic recession and sent prices soaring? At least prices are now rising more slowly — what's called disinflation. On Friday, for example, the government said a key price gauge rose 0.3% in February, down from a 0.4% gain in January. And compared with a year earlier, prices were up 2.5%, way down from a peak of 7.1% in mid-2022. But those incremental improvements are hardly enough to please the public, whose discontent over prices poses a risk to President Joe Biden's re-election bid. “Most Americans are not just looking for disinflation,’’ Lisa Cook, a member of the Federal Reserve's Board of Governors, said last year. “They’re looking for deflation. They want these prices to be back where they were before the pandemic.’’ Many economists caution, though, that consumers should be careful what they wish for. Falling prices across the economy would actually be an unhealthy sign. “There are,’’ the Bank of England warns, “more consequences from falling prices than meets the eye.’’ What could be so bad about lower prices? Deflation is a widespread and sustained drop in prices across the economy. Occasional month-to-month drops in consumer prices don’t count. The United States hasn’t seen genuine deflation since the Great Depression of the 1930s. Japan has experienced a much more recent bout of deflation. It is only now emerging from decades of falling prices that began with the collapse of its property and financial markets in the early 1990s. “Although lower prices may seem like a good thing,’’ Banco de España, the Spanish central bank, says on its website, “deflation can in fact be highly damaging to the economy.’’ How so? Mainly because falling prices tend to discourage consumers from spending. Why buy now, after all, if you can purchase what you want — cars, furniture, appliances, vacations — at a lower price later? The reality is that the economy's health depends on steady consumer purchases. In the United States, household spending accounts for around 70% of the entire economy. If consumers were to pull back, en masse, to await lower prices, businesses would face intense pressure to cut prices even more to try to jump-start sales. In the meantime, employers might have to lay off waves of employees or cut pay — or both. Unemployed people, of course, are even less likely to spend, so prices would likely keep falling. All of which risks triggering a “deflationary spiral’’ of price cuts, layoffs, more price cuts, more layoffs. And on and on. Another recession could follow. It was to prevent that very kind of economic nastiness that explains why the Bank of Japan resorted to negative interest rates in 2016 and why the Fed kept U.S. rates near zero for seven straight years during and after the Great Recession of 2007-2009. Deflation exerts another painful effect, too: It hurts borrowers by making their inflation-adjusted loans more expensive. It’s certainly true that Americans can make their paychecks go further when prices are falling. If food or gasoline prices were to tumble, households would surely find it less painful to afford groceries or their commutes to work — as long as they remained employed. Some economists even question the notion that deflation poses a serious economic threat. In 2015, researchers at the Bank for International Settlements, a forum for the world’s central banks, reviewed 140 years of deflationary episodes in 38 economies and reached this conclusion: The correlation between falling prices and economic growth “is weak and derives mostly from the Great Depression.’’ But the exception was a doozy: From 1929-1933, U.S. economic output plummeted by a third, prices sank by a quarter and the unemployment rate shot up from 3% to a crushing 25%. The bank’s researchers said the biggest economic risk came not from falling prices for goods and services but rather from a freefall in the price of assets — stocks, bonds and real estate. Those collapsing assets, in turn, can topple banks that hold crumbling investments or that made loans to struggling real estate developers and homebuyers. The damaged banks may then cut off credit — the lifeblood of the broader economy. The likely result? A painful recession. ___ AP Auto Writer Tom Krisher in Detroit contributed to this report.
How major US stock indexes fared Tuesday, 4/2/2024 None - Stocks had their worst day in four weeks, as Wall Street hits the brakes on what’s been a nearly unstoppable romp How major US stock indexes fared Tuesday, 4/2/2024 The Associated Press By The Associated Press Stocks had their worst day in four weeks, as Wall Street hits the brakes on what’s been a nearly unstoppable romp. The S & P 500 fell 0.7% Tuesday. The Dow Jones Industrial Average lost 1%, and the Nasdaq composite gave back 1%. Worries are rising that the Federal Reserve may cut interest rates fewer times than expected this year. Concerns have also grown that the U.S. stock market had become too expensive after leaping since late October. Health insurers helped lead the market lower after the U.S. government announced lower-than-expected rates for Medicare Advantage. Tesla tumbled after reporting its first-quarter deliveries. On Tuesday: The S & P 500 fell 37.96 points, or 0.7%, to 5,205.81. The Dow Jones Industrial Average fell 396.61 points, or 1%, to 39,170.24. The Nasdaq composite fell 156.38 points, or 1%, to 16,240.45. The Russell 2000 index of smaller companies fell 37.80 points, or 1.8%, to 2,065.04. For the week: The S & P 500 is down 48.54 points, or 0.9%. The Dow is down 637.13 points, or 1.6%. The Nasdaq is down 139.01 points, or 0.8%. The Russell 2000 is down 59.51 points, or 2.8%. For the year: The S & P 500 is up 435.98 points, or 9.1%. The Dow is up 1,480.70 points, or 3.9%. The Nasdaq is up 1,229.10 points, or 8.2%. The Russell 2000 is up 37.96 points, or 1.9%.
George Carlin estate settles with podcasters over fake comedy special purportedly generated by AI None - The estate of George Carlin has agreed to settle a lawsuit over a fake hourlong comedy special that purportedly uses artificial intelligence to recreate the late standup comic’s style and material for a new special LOS ANGELES -- The estate of George Carlin has agreed to a settlement with the media company it sued over a fake hourlong comedy special that purportedly used artificial intelligence to recreate the late standup comic’s style and material. In the settlement agreement filed with a federal court Monday, and a proposed order from both sides that awaits approval from a judge, the podcast outlet Dudesy agrees to permanently take down the special and to refrain from using Carlin's image voice or likeness in the future without the express written approval of the estate. The settlement meets the central demands laid out by the Carlin estate in the lawsuit filed on Jan. 25. “I am grateful that the defendants acted responsibly by swiftly removing the video they made,” Carlin's daughter Kelly Carlin said in a statement. "While it is a shame that this happened at all, I hope this case serves as a warning about the dangers posed by AI technologies and the need for appropriate safeguards not just for artists and creatives, but every human on earth." George Carlin, among the most influential standup comedians of the 20th century, died in 2008. In the audio special, titled “George Carlin: I'm Glad I'm Dead," a synthesis of the comic delivers commentary on current events. A companion Dudesy podcast episode with hosts Will Sasso and Chad Kultgen —- the company and the two men are the defendants in the lawsuit — was released with the men playing clips and commenting on them. Messages seeking comment from Kultgen and Sasso were not immediately returned. At the beginning of the special posted on YouTube on Jan. 9, a voiceover identifying itself as the AI engine used by Dudesy says it listened to the comic's 50 years of material and "did my best to imitate his voice, cadence and attitude as well as the subject matter I think would have interested him today.” The plaintiffs say if that was in fact how it was created — and some listeners have doubted its stated origins — it meant Carlin's copyright was violated. The lawsuit was among the first in what is likely to be an increasing number of major legal moves made to fight the regenerated use of celebrity images and likenesses. Carlin estate lawyer Joshua Schiller of the firm Boies Schiller Flexner LLP in a statement calls the settlement “a blueprint for resolving similar disputes going forward where an artist or public figure has their rights infringed by AI technology. Our goal was to resolve this case expeditiously and have the offending videos removed from the internet so that we could preserve Mr. Carlin’s legacy and shine a light on the reputational and intellectual property threat caused by this emerging technology.” The AI issue was a major sticking point in the resolution of last year's Hollywood writers and actors strikes.
WeWork expects to emerge from bankruptcy by the end of May, predicting $8 billion in rental savings None - Embattled co-working space provider WeWork says it expects to emerge from bankruptcy by the end of May, touting lease-restructuring efforts that it estimates will bring $8 billion in future rental savings WeWork expects to emerge from bankruptcy by the end of May, predicting $8 billion in rental savings NEW YORK -- Embattled co-working space provider WeWork says it expects to emerge from bankruptcy by the end of May, touting lease-restructuring efforts that it estimates will bring $8 billion in future rental savings. Cutting back on real estate costs has been a top priority for WeWork since the New York-based company filed for Chapter 11 bankruptcy in November. At the time, WeWork said that rental liabilities accounted for about two-thirds of its operating costs as it tried to renegotiate nearly all of its leases. In an update Tuesday, WeWork said it had “determined a final path forward” at 90% of the company's about 500 wholly owned locations in its global real estate portfolio, including through agreements to amend or reject leases. WeWork also said it had reached an agreement with holders representing 92% of its secured notes to eliminate more than $3 billion in debt obligations. Over the course of bankruptcy proceedings, WeWork made headlines for withholding hefty rent payments to landlords as it attempted to renegotiate leases. Lawyers for some landlords pushed back in court, saying the moves violated bankruptcy rules, The Wall Street Journal and others reported earlier this year. WeWork first announced plans to renegotiate nearly all of its leases in September, just weeks after the company sounded the alarm over its ability to remain in business. Beyond the mounting need to cut back on its real estate portfolio, WeWork pointed to increased member churn and financial losses. The specter of bankruptcy had hovered over WeWork for some time, with experts previously pointing to the price of the company's aggressive expansion in its early years. WeWork went public in October 2021 after its first attempt to do so two years earlier collapsed spectacularly. The debacle led to the ouster of founder and CEO Adam Neumann, whose erratic behavior and exorbitant spending spooked early investors. Japan’s SoftBank stepped in to keep WeWork afloat, acquiring majority control over the company.
US first-quarter auto sales grew nearly 5% despite high interest rates, but EV growth slows further None - New vehicle sales in the U.S. rose nearly 5% from January through March, as buyers stayed in the market despite high interest rates US first-quarter auto sales grew nearly 5% despite high interest rates, but EV growth slows further DETROIT -- New vehicle sales in the U.S. rose nearly 5% from January through March, as buyers stayed in the market despite high interest rates. But electric vehicle sales growth slowed during the first three months of the year, with mainstream buyers wary of limited range and a lack of charging stations. Automakers, most of which reported U.S. sales numbers Tuesday, sold nearly 3.8 million vehicles in the first quarter versus a year ago, for an annual rate of 15.4 million in sales. With inventory on dealer lots growing toward pre-pandemic levels, auto companies were forced to reduce prices. J.D. Power said the average sales price in March was $44,186, down 3.6% from a year ago and the largest recorded decline for the month of March. The company said automaker discounts in March were two-thirds higher than a year ago, around $2,800. That includes increased availability of lease deals. J.D. Power expected leases to account for almost a quarter of retail sales last month, up from 19.6% in March of last year. Sales of electric vehicles grew only 2.7% to just over 268,000 during the quarter, far below the 47% growth that fueled record sales and a 7.6% market share last year. The slowdown, led by Tesla, confirms automakers' fears that they moved too quickly to pursue EV buyers. The EV share of total U.S. sales fell to 7.1% in the first quarter. Nearly all of the early adopters and people concerned about internal-combustion engines' impact on the planet have bought electric vehicles, and now automakers are facing more skeptical mainstream buyers, Edmunds Director of Insights Ivan Drury said. “That's where all of those headwinds come in that we've seen in survey data,” Drury said. “Those real-world concerns about charging infrastructure, battery life, insurance costs.” Cox Automotive Chief Economist Jonathan Smoke cautioned it appears the industry has already hit its spring sales peak as buyers expect the Federal Reserve to cut interest rates later in the year. “Interest rates are still near 24-year highs, and consumers just don't have the urgency to buy, with the expectation that rates will be lower later this year,” he wrote in a market report. Automobile interest rates still are averaging around 7% per year. Drury said vehicles that are more affordable are selling faster than more expensive ones. Sales of many large and expensive SUVs fell during the quarter as companies faced more frugal buyers. “Small sells, whether it be size or the sales price,” Drury said. For example, General Motors' Chevrolet brand sold 37,588 Trax small SUVs in the quarter, more than a fivefold increase from a year ago. By itself, the Trax, which starts around $21,500, outsold the entire Cadillac brand. Most automakers reported strong year-over-year sales increases from January through March, but General Motors, Stellantis, Kia and Tesla all reported declines. GM, the top-selling automaker in the U.S., reported that sales were down 1.5% for the quarter, while Stellantis sales were off nearly 10%. Kia sales were down 2.5%. All three companies reported strong first-quarter sales a year ago. Toyota reported a large sales increase, 20%, for the quarter, and said combined sales of its hybrids and lone electric vehicle rose 36%. Honda said its sales increased 17%, while Nissan and Subaru both posted 7% increases. Hyundai reported an increase of just 0.2%. Tesla global sales were off nearly 9%, which the company blamed on factory changes to build an updated Model 3, shipping delays in the Red Sea and an attack that knocked out power to its factory in Germany. Motorintelligence.com estimated that Tesla's U.S. sales were down more than 13% in the first quarter.
'No first amendment problem': Judge rejects Trump's request to dismiss charges in GA election case None - 'No first amendment problem': Judge rejects Trump's request to dismiss charges in GA election case The judge in former President Trump's Georgia election interference case rejected his request to dismiss charges on free speech grounds. MSNBC's Lisa Rubin and former federal prosecutor Kristy Greenberg provide legal analysis on this trial and on the hush money case.April 4, 2024
Trump says members of Jan. 6 Select Committee should go to jail None - Andrew Weissmann, former top prosecutor at the Justice Department and Tim Heaphy former lead investigator for the January 6th Select Committee join Nicolle Wallace on Deadline White House to discuss real fears held by members and staff members of the January 6th committee that they could be prosecuted for committing no crimes, by Donald Trump should he win the presidency again. April 4, 2024
Trump loses bid to dismiss classified documents case None - The judge presiding over a case alleging Donald Trump mishandled classified documents denied the former president's bid to dismiss the case on the grounds the papers were considered personal under the Presidential Records Act.April 4, 2024