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Clark signs multiyear deal with Wilson Sporting Goods for signature basketball line None - CHICAGO -- Caitlin Clark signed a multiyear deal with Wilson Sporting Goods for a signature basketball line, the company announced Tuesday. The No. 1 pick in the WNBA draft will also test, advise and provide feedback on a range of Wilson basketball products. “Wilson has been with me across some of the most pivotal moments in my career so far, and I couldn’t be more excited to continue driving basketball forward alongside them,” said Clark, who set the NCAA Division I all-time scoring record. “It feels surreal to have my own basketball collection, and to affect what that means for future generations of athletes.” Wilson will release collections that celebrate Clark throughout the rest of 2024, as well as work with her to creatively direct her first-ever signature basketball line that will debut later this year. “Wilson is made to celebrate the most iconic moments in sport, and we have always aligned ourselves with trailblazers who break boundaries and write their own story,” said Amanda Lamb, head of global brand at Wilson. “Caitlin Clark is not just a record-setting athlete, but a cultural icon who has had a profound impact on the game. We couldn’t be prouder to join forces with her to continue innovating basketball both on and off the court.” It's the latest endorsement deal for Clark, who also has partnered with Nike and Gatorade. Wilson is the official basketball of the WNBA. ___ AP WNBA: https://apnews.com/hub/wnba-basketball
Keysight Technologies, Nordson fall; Eli Lilly, Lam Research rise, Tuesday, 5/21/2024 None - Stocks that traded heavily or had substantial price changes on Tuesday: Keysight Technologies, Nordson fall; Eli Lilly, Lam Research rise The Associated Press By The Associated Press NEW YORK -- Stocks that traded heavily or had substantial price changes on Tuesday: AutoZone Inc., down $103.21 to $2,820.83. The auto parts retailer reported fiscal third-quarter revenue that fell short of analysts' forecasts. Palo Alto Networks Inc., down $12.11 to $311.66. The security software maker trimmed its billings forecast for the year. Keysight Technologies Inc., down $13.39 to $146.36. The electronic measurement technology company's earnings forecast for its current quarter fell short of Wall Street expectations. Nordson Corp., down $25.27 to $243.14. The maker of adhesives and industrial coatings lowered its earnings forecast for the year. Lam Research Corp., up $21.96 to $964. The semiconductor equipment maker's board approved a $10 billion stock buyback plan and 10-for-1 stock split. Peloton Interactive Inc., down 64 cents to $3.27. The exercise bike and treadmill company announced a wide-ranging refinancing plan. ZIM Integrated Shipping Services Ltd., down 93 cents to $18.25. The container shipping company's first-quarter earnings fell short of analysts' forecasts. Eli Lilly and Co., up $19.99 to $803.17. The drug developer reportedly received approval in China for a key diabetes and weight-loss treatment.
How the bidet market boomed after the pandemic None - How the bidet market boomed after the pandemic Bidet sales are rising after the pandemic caused the public to turn to a toilet paper alternative. NBC News’ Zinhle Essamuah reports on why the emerging bathroom must-have has even spawned influencers.May 22, 2024
Top Apple exec acknowledges shortcomings in effort to bring competition in iPhone app payments None - Longtime Apple executive Phil Schiller on Wednesday acknowledged a court-ordered makeover of the U.S. payment system in its iPhone app store hasn’t done much to increase competition — a shortcoming that could result in a federal judge demanding more ch... OAKLAND, Calif. -- Longtime Apple executive Phil Schiller on Wednesday acknowledged a court-ordered makeover of the U.S. payment system in its iPhone app store hasn't done much to increase competition — a shortcoming that could result in a federal judge demanding more changes. Schiller, who has been overseeing the iPhone app store since its inception in 2008, made the admission during occasionally sheepish testimony about the new payment options that so far have been shunned by all but a few dozen apps since their introduction in January. “We have worked hard to create this program and I think we need to do a lot more to do to get developers,” Schiller said. “There is work in front of us to make that happen.” Schiller's appearance came two weeks into ongoing hearings being held in Oakland, California, federal court to determine whether Apple is properly adhering to an order issued as part of an antitrust case alleging its iPhone app store had turned into an illegal monopoly. Although U.S. District Judge Gonzalez Rogers rejected the monopoly claims made by Epic Games, she ordered Apple to lower the barriers protecting its previously exclusive payment system for in-app digital transactions and allow developers to display links to alternative options. That shake-up threatens to undercut Apple's own lucrative in-house payment system, which generates billions of dollars annually through commissions ranging from 15% to 30% of the purchase amount on digital transactions completed within iPhone apps. After more than two years of ultimately unsuccessful attempts to overturn the order to allow alternative payment links within apps, Apple in January complied with the requirement. As part of the change, Apple set up an application process to approve links to alternative payment systems and imposed fees of 12% to 27% when users clicked on those options. Epic, the maker of the popular Fortnite video game, asserted Apple's commissions for clicking on external payment links combined with other costs for payment processing effectively make the alternative more expensive than just paying Apple's fees for using its standard system. Prompted by Epic's objections, Gonzalez Rogers is now mulling whether to hold Apple in contempt of her order and taking more drastic actions aimed at giving consumers more payment choices in hopes of fostering competition that could lower prices. In the five hearings held on the issue so far, Gonzalez Rogers has repeatedly sounded frustrated with Apple executives while occasionally asking questions suggesting she thinks the iPhone maker is mostly focusing on how to preserve its profit margins and corral most payments to its in-house system. Although the judge was relatively measured during Schiller's testimony, she was more blunt last week when was of his subordinates, Carson Oliver, was on the witness stand and she asked whether he understood the intent of her order. “Did you understand the point was to increase competition?” Gonzalez Rogers said. After Oliver confirmed he did, the judge muttered, “Doesn't seem like it.” During his Wednesday testimony, Schiller repeatedly defended Apple's response to the judge's order as well-intentioned to allow more competition while protecting the privacy and security of users. But he had trouble explaining why the company is receiving so few applications to allow external payment links. In the first four months, only 38 apps have sought approval for external payment links, and only 17 of those currently engaged in digital transactions, according to evidence submitted in the hearings. That is out of about 136,00 apps in the U.S. that have completed digital transactions in the U.S. Schiller said the facts emerging in the hearings — all of which he has attended — have prompted him to create “an action item” to prod more iPhone apps to take advantage of external payment options. The hearings are scheduled to resume May 31. Schiller will return to the witness stand to continue his testimony.
Dumping oil at sea leads to $2 million fine for shipping companies None - Two shipping companies agreed to pay $2 million in penalties after pleading guilty to federal charges related to the dumping of oil in the Atlantic Ocean by a ship bound for New Orleans NEW ORLEANS -- Two shipping companies agreed to pay $2 million in penalties after pleading guilty to federal charges related to the dumping of oil in the Atlantic Ocean by a ship bound for New Orleans last year. The companies — Prive Overseas Marine LLC and the related Prive Shipping Denizcilik Ticaret — pleaded guilty Tuesday to charges including conspiracy and obstruction of justice related to false information entered into the oil record log book of the tanker PS Dream. Court records state that the companies are owned by the same holding company. Court documents said crew members pumped oil-contaminated waste into federal waters while on the way to New Orleans from Malaysia in January 2023. Evidence included information from two whistleblowers who were aboard the ship, and video showing oil being pumped overboard. The ship's master is facing separate charges in a related case.
Families of Uvalde school shooting victims are suing Texas state police over botched response None - The families of 19 of the victims in the Uvalde elementary school shooting in Texas have filed a $500 million federal lawsuit against 92 state police officers who were part of the botched law enforcement response AUSTIN, Texas -- The families of 19 of the victims in the Uvalde elementary school shooting in Texas on Wednesday filed a $500 million federal lawsuit against nearly 100 state police officers who were part of the botched law enforcement response to one of the deadliest school shootings in U.S. history. The families said they also agreed to a $2 million settlement with the city, under which city leaders promised higher standards and better training for local police. The lawsuit and settlement announcement in Uvalde came two days before the two-year anniversary of the massacre. Nineteen fourth-graders and two teachers were killed on May 24, 2022, when a teenage gunman burst into their classroom at Robb Elementary School and began shooting. The lawsuit, seeking at least $500 million in damages, is the latest of several seeking accountability for the law enforcement response. More than 370 federal, state and local officers converged on the scene, but they waited more than 70 minutes before confronting the shooter. It is the first lawsuit to be filed after a 600-page Justice Department report was released in January that catalogued “cascading failures” in training, communication, leadership and technology problems that day. The lawsuit notes that state troopers did not follow their active shooter training or confront the shooter, even as the students and teachers inside were following their own lockdown protocols of turning off lights, locking doors and staying silent. “The protocols trap teachers and students inside, leaving them fully reliant on law enforcement to respond quickly and effectively,” the families and their attorneys said in a statement. Terrified students inside the classroom called 911 as agonized parents begged officers — some of whom could hear shots being fired while they stood in a hallway — to go in. A tactical team of officers eventually went into the classroom and killed the shooter. “Law enforcement’s inaction that day was a complete and absolute betrayal of these families and the sons, daughters and mothers they lost,” said Erin Rogiers, one of the attorneys for the families. “TXDPS had the resources, training and firepower to respond appropriately, and they ignored all of it and failed on every level. These families have not only the right but also the responsibility to demand justice.” A criminal investigation into the police response by Uvalde District Attorney Christina Mitchell’s office is ongoing. A grand jury was summoned this year, and some law enforcement officials have already been called to testify. The latest lawsuit against 92 Texas Department of Public Safety officials and troopers also names the Uvalde School District, former Robb Elementary Principal Mandy Gutierrez and former Uvalde schools police Chief Peter Arredondo as defendants. The state police response was second only to U.S. Border Patrol, which had nearly 150 agents respond. The list of DPS officials named as defendants includes two troopers who were fired, another who left the agency and several more whom the agency said it investigated. The highest ranking DPS official among the defendants is South Texas Regional Director Victor Escalon. The Texas DPS told The Associated Press that the agency would not comment on pending litigation. The plaintiffs are the families of 17 children killed and two more who were wounded. A separate lawsuit filed by different plaintiffs in December 2022 against local and state police, the city, and other school and law enforcement, seeks at least $27 billion and class-action status for survivors. And at least two other lawsuits have been filed against Georgia-based gun manufacturer Daniel Defense, which made the AR-style rifle used by the gunman. The families said the settlement with the city was capped at $2 million because they didn’t want to bankrupt the city where they still live. The settlement will be paid from the city’s insurance coverage. “The last thing they want to do was inflict financial hardship on their friend and neighbors in this community. Their friends and neighbors didn’t let them down,” Josh Koskoff, one of the attorneys for the families, said during a news conference in Uvalde on Wednesday. The city of Uvalde released a statement saying the settlement would bring “healing and restoration” to the community. “We will forever be grateful to the victims’ families for working with us over the past year to cultivate an environment of community-wide healing that honors the lives and memories of those we tragically lost. May 24th is our community’s greatest tragedy,” the city said. But Javier Cazares, the father of slain 9-year-old Jackie Cazares, noted that the announcement — which was made in the same Uvalde Civic Center where the families gathered to be told their children were dead or wounded — was sparsely attended. “On the way over here, I saw the sticker, which I see everywhere, ‘Uvalde Strong.’ If that was the case, this room should be filled, and then some. Show your support. It's been an unbearable two years. ... No amount of money is worth the lives of our children. Justice and accountability has always been my main concern.” Under the settlement, the city agreed to a new “fitness for duty” standard and enhanced training for Uvalde police officers. It also establishes May 24 as an annual day of remembrance, a permanent memorial in the city plaza, and support for mental health services for the families and the greater Uvalde area. The police response to the mass shooting has been criticized and scrutinized by state and federal authorities. A 600-page Justice Department report in January catalogued “cascading failures” in training, communication, leadership and technology problems that day, Another report commissioned by the city also noted rippling missteps by law enforcement but defended the actions of local police, which sparked anger from victims’ families. “For two long years, we have languished in pain and without any accountability from the law enforcement agencies and officers who allowed our families to be destroyed that day,” Veronica Luevanos, whose daughter Jailah and nephew Jayce were killed, said Wednesday. “This settlement reflects a first good faith effort, particularly by the City of Uvalde, to begin rebuilding trust in the systems that failed to protect us.”
Former Republican presidential candidate Vivek Ramaswamy takes a 7.7% stake in BuzzFeed None - Former Republican presidential candidate and biotech entrepreneur Vivek Ramaswamy has purchased a minority stake in BuzzFeed Former Republican presidential candidate and biotech entrepreneur Vivek Ramaswamy has purchased a minority stake in BuzzFeed, the digital publishing company that shut down its media outlet last year. Shares of the company skyrocketed higher Wednesday. Ramaswamy acquired a 7.7% stake in BuzzFeed, according to a filing with the Securities and Exchange Commission late Tuesday. Ramaswamy said in the filing that he believes BuzzFeed's stock is undervalued. He is looking to speak with the company's board and management. BuzzFeed has struggled to prop up sales since it went public in 2021. In late 2022 job cuts began rolling out with the company citing a poor digital advertising environment, then early last year announced that it was shutting down its Pulitzer Prize winning digital media outlet BuzzFeed News. The corporate parent’s co-founder and CEO Jonah Peretti said in a memo to staff at the time that in addition to the news division, layoffs would take place in its business, content, tech and administrative teams. Earlier this month, BuzzFeed reported a first-quarter loss of $35.7 million, or 72 cents per share, on revenue of $44.8 million. Advertising revenue fell 22%, while content revenue declined 19% and the company is projecting a worsening revenue situation. Ramaswamy suspended his bid for the 2024 Republican presidential nomination in January and endorsed former President Donald Trump after finishing a distant fourth in Iowa’s leadoff caucuses. The son of Indian immigrants, Ramaswamy entered politics at the highest level after making hundreds of millions of dollars at the intersection of hedge funds and pharmaceutical research, a career he charted and built while graduating from Harvard University and then Yale Law School. Shares of BuzzFeed Inc., based in New York City, rose 22% to about $3.05 early Wednesday.
UN experts say South Sudan is close to securing a $13 billion oil-backed loan from a UAE company None - U.N. experts say South Sudan is close to securing a $13 billion loan from a company in the United Arab Emirates, despite the oil-rich country’s difficulties in managing debts backed by its oil reserves UNITED NATIONS -- U.N. experts say South Sudan is close to securing a $13 billion loan from a company in the United Arab Emirates, despite the oil-rich country’s difficulties in managing debts backed by its oil reserves. The panel of experts said in a report to the U.N. Security Council that loan documents it has seen indicate the deal with the company, Hamad Bin Khalifa Department of Projects, would be South Sudan’s largest-ever oil-backed loan. The experts, who monitor an arms embargo against South Sudan, said in the oil section of the report obtained by The Associated Press this week that “servicing this loan would likely tie up most of South Sudan’s revenue (for) many years, depending on oil prices.” Hamad Bin Khalifa Department of Projects, registered in Dubai, has no listed phone number and its website isn’t working. An email address associated with the company bounced back. The UAE Mission to the United Nations declined to comment, saying Hamad is a private company. South Sudan gained independence from Sudan in 2011 following decades of civil war that cost million of lives, and oil is the backbone of the young nation’s economy. Soon after independence, South Sudan fought its own civil war from 2013 to 2018, when rivals President Salva Kiir and Vice President Riek Machar signed a power-sharing agreement and formed a coalition government. South Sudan is under pressure from the United States and other nations to more quickly implement the 2018 peace deal that ended the civil war and prepare for elections. According to the U.S. Energy Information Administration’s latest update, South Sudan produced an average of about 149,000 barrels of liquid fuels per day in 2023. The landlocked country uses Sudan's pipelines to transfer its oil to Port Sudan for shipment to global markets in an agreement with the Sudanese government, which pockets $23 per barrel as transit fees for the oil exports. South Sudanese Information Minister Michael Makuei Lueth told reporters in February that outside factors, including the civil war still raging in Sudan, have hurt South Sudan’s oil exports. He also said oil wells, which were water-logged by heavy floods during the past rainy season, weren’t yet fully operational. The section on oil in the experts report said documents for the loan from the UAE company, signed between December and February by South Sudan’s minister of finance, indicate the loan is split into tranches. According to the documents, around 70% of the loan is to be allocated to infrastructure projects, with the first payment in excess of $5 billion, the panel said. Following a three-year grace period, “the loan will be secured against the delivery of crude oil for a period of up to 17 years.” The panel of experts raised serious questions about South Sudan’s oil-based debts. South Sudan lost a case in the International Center for Settlement of Investment Disputes stemming from a $700 million loan it received from Qatar National Bank in 2012. When the panel wrote its report, the tribunal had not reached a decision on how much the government would have to pay, but The Sudan Tribune reported Sunday that South Sudan has been ordered to pay more than $1 billion. The panel of experts said it has also confirmed that the government owes $151.97 million to the Eastern and Southern African Trade and Development Bank stemming from a previous oil-related deal. South Sudan was supposed to hold elections before February 2023, but that timetable was pushed back last August to December 2024. U.N. experts say that South to securing a $13 billion (12">South Sudan's president warned lawmakers “not to cling to power just weeks after his former rival turned deputy proposed a further postponement of elections. The panel of experts said would be “a significant milestone" and warned that the country's leaders are running short of time “to ensure divergent expectations do not fuel further tensions and strife.” The experts also noted South Sudan's humanitarian crisis. in which an estimated 9 million of the country's 12.5 million people need protection and humanitarian assistance, according to the U.N. The country has also seen an increase in the number of refugees fleeing the war in neighboring Sudan, further complicating humanitarian assistance to those affected by South Sudan's internal conflict.
Average US vehicle age hits record 12.6 years as high prices force people to keep them longer None - Cars, trucks and SUVs in the U.S. keep getting older DETROIT -- Cars, trucks and SUVs in the U.S. keep getting older, hitting a record average age of 12.6 years in 2024 as people hang on to their vehicles largely because new ones cost so much. S & P Global Mobility, which tracks state vehicle registration data nationwide, said Wednesday that the average vehicle age grew about two months from last year's record. But the growth in average age is starting to slow as new vehicle sales start to recover from pandemic-related shortages of parts, including computer chips. The average increased by three months in 2023. Still, with an average U.S. new-vehicle selling price of just over $45,000 last month, many can't afford to buy new — even though prices are down more than $2,000 from the peak in December of 2022, according to J.D. Power. “It’s prohibitively high for a lot of households now,” said Todd Campau, aftermarket leader for S & P Global Mobility. "So I think consumers are being painted into the corner of having to keep the vehicle on the road longer.” Other factors include people waiting to see if they want to buy an electric vehicle or go with a gas-electric hybrid or a gasoline vehicle. Many, he said, are worried about the charging network being built up so they can travel without worrying about running out of battery power. Also, he said, vehicles are made better these days and simply are lasting a long time. New vehicle sales in the U.S. are starting to return to pre-pandemic levels, with prices and interest rates the big influencing factors rather than illness and supply-chain problems, Compau said. He said he expects sales to hit around 16 million this year, up from 15.6 million last year and 13.9 million in 2022. As more new vehicles are sold and replace aging vehicles in the nation's fleet of 286 million passenger vehicles, the average age should stop growing and stabilize, Compau said. And unlike immediately after the pandemic, more lower-cost vehicles are being sold, which likely will bring down the average price, he said. People keeping vehicles longer is good news for the local auto repair shop. About 70% of vehicles on the road are 6 or more years old, he said, beyond manufacturer warranties. Those who are able to keep their rides for multiple years usually get the oil changed regularly and follow manufacturer maintenance schedules, Campau noted.
Target sales decline to start the year, but it sees improvement None - Target is reporting a decline in quarterly revenue as still-stubborn inflation cuts into shoppers’ spending NEW YORK -- Target on Wednesday posted a decline in quarterly revenue as still higher prices on essentials cut into shopper spending. The Minneapolis retailer also delivered profit results that were below analyst expectations and issued a muted profit outlook. It posted its fourth straight quarter of declines in comparable sales — those from stores or digital channels operating at least 12 months. But Target said it expects that it will get back to quarterly sales growth this quarter. Shares slumped nearly 10% in premarket trading on Wednesday. Target is looking for ways to reverse softening sales. On Monday, said it would cut prices on thousands of consumer basics over the next several months, from diapers to milk, in a bid to entice customers who are looking for deals. And it's also trying to make shopping at Target more convenient and enjoyable to better compete with Walmart and Amazon.com. Target announced a new paid membership program in April called Target Circle 360 which comes with unlimited free same-day delivery for orders over $35 and free two-day shipping for all orders. The annual $99 per year membership is getting a strong reception, the company says. It's updating existing locations, building more than 300 new stores over the next decade, and also broadening store-owned brand offerings for more cost conscious customer choices. Target is among a batch of retailers that have reported quarterly results so far, but it did not fare as well as Amazon and Walmart. Amazon, the nation's biggest online retailer, announced better-than-expected results for the holiday shopping period last month. Walmart posted strong sales results, as its low prices have attracted shoppers scouring for deals. Walmart is also drawing households with income exceeding $100,000 a year as it focuses on convenient and faster ways to shop. Two-thirds of Walmart’s market share gains come from that group, Walmart said. The nation's top home improvement retailers — Home Depot and Lowe's —which had reaped the benefits of pandemic splurges on home projects, posted another quarter of sales declines with so many homeowners and prospective home buyers constrained by high mortgage rates and inflation. Target CEO Brian Cornell told reporters Tuesday that shopping patterns are normalizing, with customers gravitating toward services and out of home entertainment, which cuts into spending on discretionary items. He said one of the biggest challenges they face is inflation on groceries and household essentials, which he said in many cases is still up 20% to 30% compared with prices before the pandemic. That, he said, is putting a “strain on consumer wallets.” But Cornell also noted a healthy job market and the confidence that consumers can find another job has helped to boost spending. “We haven’t seen a significant change (in consumer behavior) for the last few quarters, and we still see a very resilient consumer and expect that to continue over the balance of the year,” Cornell said. Target reported net income of $942 million, or $2.03 per share, which is 3 cents short of analysts projections, according to a survey by FactSet. Profit for the period ended May 4 was also below last year's $950 million, or $2.05 per share. Its revenue slipped 3.1% to $24.53 billion, slightly better than the $24.52 billion Wall Street expected. Comparable sales slipped 3.7% in the latest quarter, a smaller decline from the 4.4% drop during the fourth quarter. Sales declines were primarily in discretionary categories, and were partially offset by continued growth in beauty, the company said. But Target said clothing sales, while still down, improved. For its second quarter, Target said it expects comparable sales to be anywhere from unchanged to a 2% gain. It expects to earn between $1.95 to $2.35 per share. Analysts expect $2.20 per share. For the full year, Target continues to expect comparable sales to be no more than a 2% increase. Earnings per share should be in the range of $8.60 to $9.60. Analysts expect $9.49, according to FactSet.
Judge to weigh proposed changes to Google's Android app store to prevent anticompetitive tactics None - Google is confronting the latest in a succession of legal attacks on its digital empire on Thursday as a federal judge began to address anticompetitive practices in the app market for smartphones powered by its Android software SAN FRANCISCO -- Google is confronting the latest in a succession of legal attacks on its digital empire on Thursday as federal judge begins to address anticompetitive practices in the app market for smartphones powered by its Android software. The San Francisco court hearing before U.S. District Judge James Donato comes five months after a nine-person jury decided Google had turned its Play Store for Android phone apps into an illegal monopoly following a four-week trial in an antitrust case brought by Epic Games. At the start of the hearing, Donato told lawyers for both parties not to revisit the jury's verdict, which is now “carved in stone.” He also said that the case is about “competing generally,” and he is “not looking for a relief that gives a helping hand just to Epic.” The verdict gives Epic, the maker of the popular Fortnite video game, a chance to persuade Donato to impose sweeping restrictions and other changes on how Google manages the distribution of Android apps. Those apps enable a wide range of services on virtually every phone that isn't made by Apple. As Apple does on its store for iPhone apps, Google makes billions of dollars annually from its Play Store for Android apps through a commission system that charges a fee of 15% to 30% on a variety of digital transactions. Epic and other makers of popular apps, such as Spotify and Match Group, have been attacking those in-app commissions as an abusive tactic that gouges consumers as well as them. Epic is pushing Donato to require Google to ban many of the practices that enabled the Play Store to stifle alternatives to the Play Store that would have charged far lower commissions that could help bring down prices and foster more competition that could spawn more innovation. As the hearing continues, Google will be trying to minimize the upheaval to its lucrative Android ecosystem just weeks after its lawyers delivered the closing arguments i n an even more consequential antitrust case targeting its dominant search engine. A ruling in that case filed by the U.S. Justice Department isn't expected until later this summer or autumn. In the Play store case, Google contends a series of concessions that it's making as part of a $700 million settlement it made in another antitrust case brought by attorneys general across the U.S. already have ensured there will be more competition. The settlement, reached before the Epic case went to trial, will pay at least $2 to each of the more than 100 million consumers covered by it while requiring Google to lower the barriers that have made it difficult for rival options to the Play Store. Epic, which has derided the attorneys general settlement as ineffectual, is seeking more stringent measures that would handcuff Google and make it easier for rival app stores to connect with consumers with Android phones. Under Epic's key proposals, Google would be required to make all Android apps in the Play Store available to competing stores and also distribute rival options directly to consumers who want to download them. Epic also wants Donato to forbid Google from requiring the Play Store to be automatically installed on Android phones and appoint an oversight committee to ensure the new order is followed. In court documents leading up to Thursday's hearing, Google argued Epic's proposals would have a chilling effect on the Play Store that would do more harm than good for the consumers and developers of Android apps.
OpenAI to start using news content from News Corp. as part of a multiyear deal None - OpenAI will start using news content from News Corp. as part of a multiyear deal between the two companies OpenAI to start using news content from News Corp. as part of a multiyear deal Joining news organizations that have chosen to collaborate rather than fight with the best-known artificial intelligence company, News Corp. has struck a multiyear deal to share news content with OpenAI for both training purposes and to answer questions from users. As part of the deal, OpenAI will have access to both fresh and archived material from News Corp.'s major news publications, including The Wall Street Journal, Barron's, New York Post, The Daily Telegraph and others. The companies would not talk about the length or value of the deal, although News Corp.'s Wall Street Journal said it could be worth more than $250 million over five years. OpenAI has also made licensing deals with other media companies including The Associated Press, news publishing giants Axel Springer in Germany and Prisa Media in Spain, France’s Le Monde newspaper and the London-based Financial Times. For the most part, those deals gave access to news content that OpenAI uses for training. But in the News Corp. deal, the artificial intelligence company will be allowed to use news content to answer questions from users. Google announced this month that it is changing its search engines to more directly address queries, instead of directing people to articles put out by news organizations. Taking a different approach, The New York Times late last year sued OpenAI and Microsoft, accusing the companies of effectively stealing the work of its journalists for use in training chatbots. Sam Altman, CEO of OpenAI, said the News Corp. deal represents a proud moment for journalism and technology. “Together, we are setting the foundation for a future where AI deeply respects, enhances and upholds the standards of world-class journalism,” he said. Jason Cuomo, senior vice president for Moody's Ratings, said the deal is credit positive. “Collaborating with the leader in generative AI validates the company’s approach to effectively monetizing the value of News Corp.’s media brands and validates the opportunity to grow sales and profitability in the news media segment," Cuomo said. ______ The Associated Press and OpenAI have a licensing and technology agreement that allows OpenAI access to part of AP’s text archives. ————- AP Business Writer Matt O'Brien and Media Writer David Bauder contributed to this report.
Nvidia, Synopsys rise; Live Nation, V.F. Corp. fall, Thursday, 5/23/2024 None - Stocks that traded heavily or had substantial price changes on Thursday: Nvidia, Synopsys rise; Live Nation, V The Associated Press By The Associated Press NEW YORK -- Stocks that traded heavily or had substantial price changes on Thursday: Nvidia Corp., up $88.49 to $1,037.99. The company's revenue more than tripled in the latest quarter as demand for its chips, which power AI applications, surged again. Live Nation Entertainment Inc., down $7.92 to $93.48. The Justice Department sued the parent company of Ticketmaster, saying it runs an illegal monopoly over live events. VF Corp., down 36 cents to $11.97. The parent company of The North Face, Vans, and Timberland reported a loss and weaker revenue than analysts expected. News Corp., down 7 cents to $25.88. The owner of The Wall Street Journal, New York Post and other media announced a licensing deal with OpenAI, the parent company of ChatGPT. Prologis Inc., down $3.58 to $105.64. Real estate companies fell broadly as rising Treasury yields made high-yielding stocks less attractive to investors seeking income. Synopsys Inc., up $13.17 to $586.30. The maker of electronic design software's earnings beat analysts' estimates and it issued a stronger-than-expected forecast. LiveRamp Holdings Inc., up $1.94 to $34.28. The data collaboration company's results were far ahead of estimates and it issued a stronger-than-expected forecast. e.l.f. Beauty Inc., up $29.14 to $184.77. The cosmetics brand reported results that easily surpassed analysts' estimates.
New York will set aside money to help local news outlets hire and retain employees None - New York is setting aside $90 million in tax credits for local news outlets to hire and retain journalists New York will set aside money to help local news outlets hire and retain employees ALBANY, N.Y. -- New York is offering up to $90 million in tax credits for news outlets to hire and retain journalists in an effort to help keep the shrinking local news industry afloat. The U.S. newspaper industry has been in a long decline, driven by factors including a loss in advertising revenue as outlets have moved from primarily print to mostly digital. That prompted state lawmakers to help in a measure passed in the state budget. New York’s three-year program allows some news organizations to tap into refundable tax credits each year, with a single outlet able to receive tax credits of up to $320,000 annually. State Sen. Brad Hoylman-Sigal, a Democrat who sponsored the legislation, said preserving journalism jobs is vital for the health of democracy. As evidence, he cited the weakened New York news media's failure to research the background of George Santos, a Republican who fabricated many details of his life story, until after he had been elected to Congress. “Some of my colleagues have dubbed this credit the ‘George Santos Prevention Act’ because many believe it was the lack of local press coverage that enabled Santos to spin his web of lies undetected,” Hoylman-Sigal said. While it is intended to benefit small community news sites, larger media organizations could also potentially benefit. The tax credits would mostly only be available to news outlets that are not publicly traded, though there would be an exception for certain media businesses that can show a reduction in circulation. Hoylman-Sigal said he is open to making revisions to expand the legislation to include nonprofit news organizations and digital-only media outlets, which are currently left out of the program. “This is the first time in American history that we have created a tax credit structure to support journalism jobs,” Jon Schleuss, president of the NewsGuild-CWA, a labor union for journalists, said. Lawmakers in several states have weighed various approaches to help struggling news organizations. The state governments in California and New Mexico help fund local news fellowship programs. The California Legislature is considering a bill that would require tech giants like Google, Facebook and Microsoft to pay a percentage of advertising revenue to media companies for linking to their content. Google pushed back recently by temporarily removing California news websites from some people’s search results. In Illinois, lawmakers have proposed a journalism scholarship program, a tax credit and a requirement that news outlets notify the state of plans to sell their operations four months in advance. Bills in Connecticut and Illinois would direct that some money the state spends on advertising go to local outlets. Most of the measures advancing this year have been in Democrat-controlled states. But Anna Brugmann, director of policy at Rebuild Local News, which advocates for government help for journalism, said there is interest in the idea in red states, too. The hang-up, she said: The initiatives can be expensive. She noted that in Wisconsin, there were both Republican and Democratic news aid bills this year. “We’re certainly looking at red and purple states, for the next legislative session,” Brugmann said. About 203 counties across the U.S. do not have any local news outlets, according to a report last year from Northwestern University’s Medill School of Journalism. More than 1,500 – nearly half the counties – have only one. New York's program, which would start in 2025, will divide tax breaks into two pots, with about $4 million worth of credits available to help newsrooms hire staff and about $26 million in credits to help with staff retention. Newsrooms could receive $5,000 worth of tax credits for each new hire, with a cap at $20,000, or four new positions. Newsrooms could get up to $300,000 worth of tax credits to help retain staff. “In a day and age where there’s so much information, having trained journalists who can ask the tough questions and hold elected officials and other public figures accountable is critical to our democracy as a country,” said state Sen. Jeremy Cooney, a Democrat who represents parts of the Rochester area in western New York. News businesses applying for the tax credit wouldn’t be evaluated based on whether government officials like their coverage, state officials said. Zachary Richner, the founder of Empire State Local News Coalition, said he hopes regulations for the program will be drafted in a way that prioritizes tax credits for “the news outlets that need it the most.” Tom Wiley, publisher at The Buffalo News, said the tax credit will help them invest in frontline journalism. “We think the tax credit will help us continue to be the key source for local news in western New York," Wiley said. “Our work is what sustains an informed electorate in our environment of misinformation and falsehoods.” ___ Associated Press writer Geoff Mulvihill in Cherry Hill, New Jersey, contributed to this report. Maysoon Khan is a corps member for the Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues.
Yemen's Houthi rebels claim 2 attacks in Gulf of Aden as Iran official renews nuclear bomb threats None - Yemen’s Houthi rebels have claimed responsibility for two missile attacks in the Gulf of Aden on two Panama-flagged container ships that caused no damage JERUSALEM -- Yemen's Houthi rebels on Thursday claimed responsibility for two missile attacks in the Gulf of Aden on two Panama-flagged container ships that caused no damage. Meanwhile, an adviser to Iran's supreme leader again threatened that Tehran could build a nuclear weapon if it chose to pursue atomic armaments. The comments by Yemeni military spokesman Brig. Gen. Yahya Saree and former Iranian Foreign Minister Kamal Kharrazi come as the allies of Hamas continue to pressure Israel over its continuing war on the militant group in the Gaza Strip. The Houthis insist their assaults on shipping through the crucial waterway leading to the Suez Canal and onward to the Mediterranean Sea will continue as long as the war goes on. Meanwhile, Iran already has launched an unprecedented drone-and-missile attack on Israel amid the war, bringing a yearslong shadow conflict between the two nations out into the light. Saree in a prerecorded statement claimed attacks on the MSC Diego and MSC Gina. The Joint Maritime Information Center, a U.S.-led coalition of nations operating in the Mideast, said those two missile attacks happened early Tuesday. "Neither were hit and all crew on board are safe," the center said. “The vessels were last reported proceeding to next port of call.” The center added that the vessels were “likely targeted due to perceived Israeli affiliation.” Both vessels were operating for Geneva-based Mediterranean Shipping Co., which did not immediately respond to a request for comment. Saree did not say why it took the rebels two day to claim the attacks. He also claimed the Houthis targeted the MSC Vittoria, another container ship, in the Indian Ocean. An attack on that vessel, however, has not been reported or acknowledged by any authorities. The Houthis say their attacks on shipping in the Red Sea and Gulf of Aden are aimed at pressuring Israel to end its war against Hamas in Gaza, which has killed more than 34,000 Palestinians there, according to local health officials. The war began after Hamas-led militants attacked Israel on Oct. 7, killing 1,200 people and taking some 250 others hostage. The Houthis have launched more than 50 attacks on shipping, seized one vessel and sunk another since November, according to the U.S. Maritime Administration. Shipping through the Red Sea and Gulf of Aden has declined because of the threat. Meanwhile Thursday, Iran's state-run IRNA news agency carried the comments made by Kharrazi, a former foreign minister under reformist President Mohammad Khatami. Speaking to the Al Jazeera news network in an interview that appeared not to have been immediately aired, Kharrazi elaborated on an atomic bomb threat he made to the channel back in 2022 amid tensions with the West over Iran's tattered 2015 nuclear deal with world powers. “If Iran’s existence is threatened, we will have to change our nuclear doctrine,” Kharrazi said, according to IRNA. "Recently, the military officials also announced that if Israel wants to attack nuclear facilities, it is possible and imaginable to revise Iran’s nuclear doctrine and policies and divert from the previous declaration considerations.” Tensions have grown between Iran and the International Atomic Energy Agency since 2018, when then-President Donald Trump unilaterally withdrew the United States from Tehran’s nuclear deal. Since then, Iran has abandoned all limits the deal put on its program and enriches uranium to up to 60% purity — near weapons-grade levels of 90%. Meanwhile, tensions between Iran and Israel have hit a new high. Tehran launched a drone-and-missile attack on Israel last month after Israel’s apparent attack on an Iranian consular building in Syria killed two Iranian generals and others. The Iranian city of Isfahan then apparently came under Israeli fire in recent weeks, despite being surrounded by sensitive nuclear sites. ___ Associated Press writer Amir Vahdat in Tehran, Iran, contributed to this report.
With Ukraine losing ground, allies debate how to squeeze cash for Kyiv out of frozen Russian assets None - Ukraine's allies are looking for ways to squeeze money out of frozen Russian assets and use it to help Kyiv fend off Moscow's invasion With Ukraine losing ground, allies debate how to squeeze cash for Kyiv out of frozen Russian assets FRANKFURT, Germany -- Ukraine's allies are wrestling with how to squeeze money out of frozen Russian assets to support Kyiv's war effort, a debate getting more urgent as Russia gains territory on the battlefield and as the outlook for Ukraine’s state finances looks shakier. At the top of the agenda as finance officials from the Group of Seven rich democracies meet Thursday through Saturday in Stresa, Italy, on the shores of scenic Lago Maggiore, is what to do with the Russian central bank reserves frozen in response to the invasion of Ukraine. Ukraine and many of its supporters have called for the confiscation of $260 billion in Russian assets frozen outside the country after the Feb. 24, 2022, invasion. But European officials have resisted, citing legal and financial stability concerns. Most of the frozen assets are located in Europe. A European plan to merely use the interest on the Russian funds would provide only a trickle of money every year — about $2.5 billion-$3 billion at current interest rates, which would barely meet a month's financing needs for the Ukrainian government. U.S. Treasury officials and outside economists are proposing ways to turn that annual trickle into a much larger chunk of upfront cash. That could done be through a bond that would be repaid by the future interest income, giving Ukraine the money immediately. The ministers will meet with Ukrainian Finance Minister Sergii Marchenko on Saturday. “Securing Ukraine’s position in the medium-to-long term requires unlocking the value of immobilized Russian sovereign assets,” U.S. Treasury Secretary Janet Yellen said at a news conference Thursday in Stresa. “We support the EU’s decision to utilize the windfall profits from these assets, but we must also continue our collective work on more ambitious options.” She said $50 billion “has been mentioned as a possible number that could be achieved” from the assets, but that the specific approach was still under discussion. The debate over the Russian assets is being revived after President Joe Biden in April signed into law the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act, which allows the administration to seize the roughly $5 billion in Russian state assets located in the U.S. The law was included in the U.S. aid package for Ukraine and other nations, which includes roughly $61 billion for Ukraine’s defense. As the Stresa meeting started, Russia published a decree from President Vladimir Putin allowing confiscation of assets of U.S. companies and individuals as compensation for any Russian assets seized in the United States. Exactly what the income from Russian assets would be spent on remains open, but one key focus is Kyiv's state budget. Ukraine spends almost the entirety of its tax revenue on the military and needs another $40 billion a year to continue paying old-age pensions and the salaries of doctors, nurses and teachers — the glue that holds society together under dire wartime circumstances. Support from allies and a $15.4 billion loan from the International Monetary Fund was initially thought to have secured the budget for four years, but the prospects of an extended conflict have darkened the outlook. Ukraine depends on its allies for that money because the war keeps the government from accessing international bond market borrowing. The alternative would be printing money at the central bank, which risks igniting hyperinflation. Thanks to EU support and the U.S. aid package, passed after months of delay, this year’s budget “looks decent in terms of budget financing” but “next year is going to be much more challenging,” said Benjamin Hilgenstock, senior economist at the Kyiv School of Economics Institute. The ministers will seek to build consensus ahead of the June 13-15 summit of G7 national leaders summit in Italy. Yellen will also raise China’s outsized, state-backed production of green energy technology, which the U.S. considers a threat to the global economy. It has been a little more than a month since she traveled to China to speak with her counterparts in Guangzhou and Beijing about the nation’s massive subsidies to its electric vehicles, batteries, solar energy equipment and other products. Since then, the U.S. has imposed major new tariffs on electric vehicles, semiconductors, solar equipment and medical supplies imported from China. Included is a 100% tariff on Chinese-made EVs, meant to protect the U.S. economy from cheap Chinese imports. Yellen said Chinese overcapacity was an issue not just for the U.S. but also for other G7 and developing countries. That's because China's selling of low-priced goods threatens the existence of competing companies around the world, she said. “We are not willing to be completely reliant on China as a provider of these goods," she said. "We need to stand together and send a unified message to China so they understand that it is not just one country that feels this way but that they face a wall of opposition to this strategy that they are pursuing.” Yellen said the finance ministers would also discuss humanitarian aid for Gaza, and that she would urge other member governments to join in strengthening sanctions against Iran over support of terrorist groups. The G7 meets annually to coordinate economic policy and discuss other issues including security and energy. Its members are Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Representatives of the European Union also take part, but the EU does not serve as one of the rotating chairs. ___ Follow AP's coverage at https://apnews.com/hub/russia-ukraine
George Conway: 'I don't see a good outcome for Donald Trump' None - Our goal is not just to point to the past, it's to show what we can do differently for the future.: Transportation Secy. Pete Buttigieg 07:56
Why prosecutors in the documents case are asking to limit Trump's public statements None - "When you see it on the screen it's very hard to unsee it," Reporter on the movie Donald Trump doesn't want you to see. 04:04
Jack Smith asks judge to bar Trump from making statements that endanger law enforcement None - In the wake of a campaign by Donald Trump and his supporters to spread a false narrative that the search warrant for Mar-a-Lago in Trump's classified documents case contained special use of force language that marked Trump for death, special counsel Jack Smith has asked Judge Aileen Cannon to restrict Trump's statements to prevent him from inciting violence against law enforcement.May 25, 2024
Paying ‘for silence’: Cohen’s former legal advisor says the evidence is clear against Trump None - Paying ‘for silence’: Cohen’s former legal advisor says the evidence is clear against Trump America’s first-ever criminal trial of a former president is coming to an end. Michael Cohen's former legal advisor Lanny Davis joins The Weekend to discuss what to expect in the final days. May 25, 2024