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Top Dem calls for Weaponization Committee hearing on dangers of Project 2025 None - Rep. Stacey Plaskett, Ranking Member of the House “Weaponization” Subcommittee and former impeachment manager for Donald Trump’s second impeachment, joins Melissa Murray to discuss the dangers of Project 2025 and the Trump loyalists in Congress who are helping to turn the movement into a reality. They also discuss Jim Jordan calling on Manhattan DA Alvin Bragg to testify before the Weaponization Committee, a move which Rep. Plaskett calls “a waste of time.”June 16, 2024
MSNBC hosts slam Trump’s ‘many Black friends’ defense of why he can’t be racist None - MSNBC hosts slam Trump’s ‘many Black friends’ defense of why he can’t be racist The Weekend co-hosts weigh in on Donald Trump saying he can't be racist because he has "so many black friends."June 16, 2024
Democratic Rep. Khanna to skip Netanyahu address: ‘I'm not going to sit in a one-way lecture’ None - ‘I would have an ability to step in’: Rep. Donalds says he’s ready to be Trump’s VP if asked 00:49
Milan Fashion Week: Prada projects youthful optimism, not escapism, in a turbulent world None - Milan designers have expressed their concern over the global turbulence through their collections without making overt statements MILAN -- Without making overt statements, Milan designers expressed their concern over the global turbulence through their collections. Miuccia Prada said she wanted to project optimism. “Because even if the times are bad, I feel that it was the right thing to do," she said backstage at the Prada show. She is not promoting escapism. “Eventually, I propose something positive, but escapism, I don’t like." Not using the platform to comment on the state of the world would be “irresponsible,’’ said the designers behind the Simon Cracker brand, born 14 years ago to contrast the prevailing fashion system with upcycled collections. They dedicated their collection, titled “A Matter of Principle," to “the children victims of matters of principle." Some highlights from the third day Sunday of mostly menswear previews for Spring-Summer 2025: The Prada menswear collection plays with the idea of imperfection. But nothing is as it seems. Tops, jackets and hoodies seem shrunken, more than cropped. Overcoats have three-quarter sleeves. It’s a wardrobe somehow inherited, already lived-in. Creases are part of the construction, as technical as a pleat. Pointed shirt collars are held aloft by wires. Trousers feature faux belts, low and below the waistline. Belts also are featured as decoration on bags, as if to close them. Miuccia Prada, co-creative director of the brand along with Raf Simons, said playing with the idea of the real versus the fake “is very contemporary,” calling such details “an invitation to take a closer look at the clothes.” The neutral color palette is punctuated by feminine shades: a bright green cardigan, a floral blouse, a turquoise coat, which the designers said suggest a mother’s or grandmother’s wardrobe. Pieces can be lined up with inverted triangle cutouts, to layer. “We wanted (the collection) to be already alive, as if clothes you already lived with," Simons said backstage. Prada models emerged from a simple white hut, descending into the showroom down a runway flanked by a white picket fence. The designers describe the setting both as essential and utopian — and youthful. “Here youth is the hope, it’s the future," Prada said. “In this moment, we thought it was relevant also to encourage youth to think about our world." So many knots to undo in the world, so many knots holding together the latest Simon Cracker collection of mostly upcycled apparel. For Spring-Summer 2025, designers Filippo Biraghi and Simone Botte assembled their collection of repurposed apparel castoffs using laces and drawstrings to create skirts from tennis shirt panels, dresses from knitwear and restructure jackets. Each piece is unique. The “nervous” color palette of black, violet, sea blue and acid green was achieved through dyeing, each material reacting differently to the process. “It is a way of recounting what is happening in the world, without being too explicit," Biraghi said backstage. “It would be irresponsible to not be political in this moment.” The 14-year-brand’s name is meant to denote that something is broken — cracked — in the fashion system. They embrace imperfection as part of the beauty of their creations, made from forgotten or discarded garments and deadstock fabrics, this time including textiles from Italian sportswear brand Australian. Australian, which is gaining traction with the club crowd, also created a capsule collection of black neon and technical garments for Simon Cracker, its first production line. Doc Martens provided the footwear, which the designers personalized with pins, badges and costume jewelry. JW Anderson’s warm weather collection for men and women cocoon the form in soft and spongy outerwear — a counterintuitive choice on warming planet. The collection’s seeming motto, on jackets, sweaters and T-shirts, Real Sleep, might be read as a recipe to cope with the real world. The humorful collection played “with this idea of miniature scale and maximum scale,” the Northern Irish designer said after the show. It opened with oversized quilted jackets and transitioned into big cashmere balls of yarn, each in triplicate. On the miniature side, Anderson recreated Georgian terraced houses and country cottages on the front of knitwear, with intarsia doors and windows. Pillowy sweatshirts looked structural enough to break a fall. Big colorful silken balloon like structures on coats were deflated, as if to say the world is too much. And if so, take comfort in a smiling pint of a Guinness, the Irish stout is featured in a capsule collection with whimsical images of a last-century advertising campaign on knitwear. Anderson said he was exploring “the idea of permissiveness with the clothing. This idea of what we do best is the storytelling."
An emotional win for theaters, Hollywood: ‘Inside Out 2’ scores massive $155M opening None - Hollywood’s summer movie anxieties gave way to joy this weekend with the massive debut of Disney and Pixar’s “Inside Out 2.” Hollywood’s summer movie anxieties gave way to joy this weekend with the massive debut of Disney and Pixar’s “ Inside Out 2.” The animated sequel earned $155 million in ticket sales from 4,440 theaters in the U.S. and Canada, according to studio estimates Sunday. Not only is it the second-highest opening weekend in Pixar’s 29 years of making films and the second-biggest animated opening ever (behind only the $182.7 million launch of “Incredibles 2” in 2018); It’s also the biggest of 2024, and since “Barbie.” With an estimated $140 million from international showings, “Inside Out 2” had a staggering, and record-breaking, $295 million global start. Tony Chambers, who heads theatrical distribution for Disney, was confident that the film would do “extremely well.” But even he was surprised at how much it exceeded already high expectations. “People go to the theaters for great movies,” Chambers said. “The reviews, the word of mouth just helped build this momentum … It’s becoming a bit of a phenomenon.” Importantly, “Inside Out 2” audiences spanned ages and all demographics. Post-COVID, he said, breakout successes depend on attracting multicultural audiences. The success is significant for Pixar, marking a much-needed return to form for a studio that has had a string of underwhelming launches including “ Elemental,” which did eventually become a success, and “ Lightyear,” which didn’t. It’s also vitally important for the greater Hollywood ecosystem and the health of theatrical exhibition, which had been running at a 26% deficit. “Everybody needed this because success begets success,” said Chambers, who has been getting excited calls from exhibitors and fellow studios alike. “It’s great for the industry, great for Pixar and great for the business overall.” Disney was already having a good summer, with “Kingdom of the Planet of the Apes,” which this weekend was in third place in its sixth weekend with $5.2 million (bringing its global total to $374.5 million). And next up is “ Deadpool & Wolverine ” (July 26). Kelsey Mann directed “Inside Out 2,” which picks up with Riley as she turns 13. That means the arrival of new emotions like Anxiety (Maya Hawke) and Envy ( Ayo Edebiri ) to Joy's (Amy Poehler) party. It got glowing reviews from critics (92% on Rotten Tomatoes) and polled audiences who gave it an A CinemaScore, suggesting that this won’t be a first-weekend wonder. With kids out of school and an open market until “Despicable Me 4” enters the ring over the Fourth of July, “Inside Out 2” is just getting started. “This is a monumental weekend for movie theaters,” said Paul Dergarabedian, the senior media analyst for Comscore. “Inside Out 2” is estimated to have cost around $200 million to produce, which does not account for the millions spent on marketing. Going into the weekend, it was tracking for a debut in the $90 million range, which would have been in line with “Inside Out’s” first weekend in June 2019. Even that would have been considered a terrific achievement, and enough to claim the biggest opening of the year — finally unseating March releases like “ Dune: Part Two ” and “ Godzilla x Kong.” “For the entire industry that works for theatrical, this is a huge turning point for 2024,” said Daniel Loria of Boxoffice Pro. “This is the sort of weekend we’ve been waiting for.” As the only major release of the weekend, its theatrical footprint was equally impressive playing on 400 IMAX screens, over 900 “premium large format” screens and over 2,500 3D screens. This recommitment to theatrical comes after Disney sent several Pixar films straight to its streaming service, Disney+, over the pandemic including “Soul,” “Luca” and “Turning Red.” Last month, the New York Times reported that Pixar had decided to return its focus to feature films (and not producing shows for Disney+) and that it had laid off 14% of its workforce (about 175 employees). “As important as this weekend is for the industry at large, for Pixar this is huge. They’ve been trying to get their groove back since the pandemic,” Dergarabedian said. “They’ve really come back big.” Second place went to Sony's “ Bad Boys: Ride or Die, ” now in its second weekend with $33 million, down only 42% from its opening. In just 12 days, it's already earned over $112 million domestically and $214 million globally. As of Friday, the four-film franchise had crossed the $1 billion mark. “Bad Boys'” success last weekend was the start of a higher-earning turnaround for the lagging summer movie season. For Hollywood, the summer season, which runs from the first weekend in May through Labor Day, usually represents about 40% of the yearly box office. The deficit is still significant, with ticket sales down 28% for the summer and 24% for the year (and this is still before “Barbenheimer”) but it's progress in a more promising direction nonetheless. “We're not going to get there overnight,” Dergarabedian said. “But it’s good news for theaters. And we have some big movies on the way.” On the ground, theater owners saw their cineplexes come to life this weekend. “It has been magical,” said Jeff Whipple, a vice president for Megaplex Theaters. “We have seen literally generations of families brought together for this movie.” Megaplex Theaters operates 15 locations and 173 screens in Utah and Southern Nevada. And the energy was palpable, Whipple said. Not only have families been hanging around after the showtimes to discuss the film; They’ve also been scoping out what’s coming next with kids taking pictures of the “Despicable Me 4” posters and displays and dads taking note of the “Deadpool & Wolverine” date. “I think word is going to spread on this film and help draw people into theaters throughout the summer," Whipple said. Estimated ticket sales for Friday through Sunday at U.S. and Canadian theaters, according to Comscore. Final domestic figures will be released Monday. 1. “Inside Out 2,” $155 million. 2. “Bad Boys: Ride or Die,” $33 million. 3. “Kingdom of the Planet of the Apes,” $5.2 million. 4. “The Garfield Movie,” $5 million. 5. “The Watchers,” $3.7 million. 6. “IF,” $3.5 million. 7. “Furiosa: A Mad Max Saga,” $2.4 million. 8. “The Fall Guy,” $1.5 million. 9. “The Strangers: Chapter 1,” $760,000. 10. “Lord of the Rings: The Fellowship of the Ring,” $632,910.
Britain's July 4 election is fast approaching. Rishi Sunak is running out of time to change the tune None - With less than three weeks to go until Britain’s election day, Prime Minister Rishi Sunak is running out of time to change the tune Britain's July 4 election is fast approaching. Rishi Sunak is running out of time to change the tune LONDON -- With less than three weeks until U.K. election day, Prime Minister Rishi Sunak is running out of time to change an ominous tune for his Conservative Party. Sunak, who in recent days traveled to a Group of Seven summit and a Swiss conference on the Ukraine war, has been dogged by questions about whether voters are about to bring his time in office to an abrupt end on July 4. Polls continue to give the left-of-center opposition Labour Party under Keir Starmer a double-digit lead over Sunak’s Conservatives, who have been in power for 14 years under five different prime ministers. Sunak’s attempts to close the gap have had little apparent impact. The biggest splash he's made in the campaign so far was a gaffe – the prime minister’s decision to skip an international ceremony in France on June 6 marking the 80th anniversary of the D-Day invasion. He has been apologizing ever since. Commentators are starting to talk about doomsday scenarios for the Conservatives, who have governed Britain for almost two-thirds of the past 100 years and won 365 of the 650 seats in the House of Commons in the 2019 election. University of Strathclyde politics professor John Curtice, one of Britain’s most respected polling experts, said that Conservative support is at its lowest point in U.K. polling history, and Sunak “must be beginning to doubt his decision to call the election early.” In the past week, both Conservatives and Labour have released their election manifestos, the detailed packages of promises that form the centerpiece of their pitch to voters. The Conservatives focused on reducing immigration and lowering taxes, pledging 17 billion pounds ($22 billion) in tax cuts by 2030, to be paid for largely by slashing welfare costs. Labour promised to get the economy expanding after years of sluggish growth by establishing a new industrial policy, investing in infrastructure, cutting planning red tape and building 1.5 million new homes. It has promised not to increase personal taxes, but the Conservatives say the tax burden will rise under Labour. Critics say neither party is being up front about the tax increases that would be needed to repair public services left threadbare after years of Conservative-led spending cuts, Brexit, a global pandemic and the cost-of-living crisis triggered by Russia’s full-scale invasion of Ukraine in February 2022. “The gaping hole in both parties’ manifestos is a reckoning with the scale and severity of the fiscal problems that will confront whoever wins the election,” said Hannah White, director of independent think tank the Institute for Government. The Conservatives’ electoral prospects worsened when populist firebrand Nigel Farage entered the race at the helm of the right-wing party Reform U.K. Though it is unlikely to win many seats in Parliament, Reform’s vote share appears to be rising, largely at the expense of the Conservatives. In recent days, the Conservative message has shifted from aiming at victory to warning that voting Reform could help Labour win a landslide. “If you vote for anybody else other than a Conservative candidate, you’re going to get a Labour government with a large majority,” Transport Secretary Mark Harper told the BBC on Sunday. Labour is concerned that its supporters will think the election is in the bag and stay home on polling day. Health spokesman Wes Streeting cautioned Sunday that there was “breathtaking complacency in the media” about the Labour Party’s poll lead. Sunak, who has been in office for less than 20 months, insists that he's still fighting to win. The United Kingdom's first Hindu prime minister told The Sunday Times that he was guided by the concept of dharma, which he said roughly translates as “doing your duty and not having a focus on the outcomes of it.” “Work as hard as you can, do what you believe is right, and try, and what will be will be,” he said. ___ This story has been corrected to show that the transport secretary's last name is Harper, not Haper.
Stores are more subdued in observing Pride Month. Some LGBTQ+ people see a silver lining in that None - With Pride Month in full gear, U.S. shoppers can find the usual merchandise many stores stock for the June celebration of LGBTQ+ culture and rights Stores are more subdued in observing Pride Month. Some LGBTQ+ people see a silver lining in that NEW YORK -- With Pride Month in full gear, U.S. shoppers can find the usual merchandise many stores stock for the June celebration of LGBTQ+ culture and rights. But analysts and advocates say the marketing is toned down compared to previous years, and at some chains, there's no trace of Pride at all. The more subdued atmosphere underscores the struggle of many retailers to cater to different groups of customers at a time of extreme cultural divisions. This year's Pride Month is unfolding amid a sea of legislation and litigation over LGBTQ+ rights, especially the ability of transgender young people to participate in sports or receive gender-affirming care. Against this backdrop, Target reduced the number of its stores carrying Pride-themed products this year after getting backlash in 2023. Nike, which like Bud Light became the subject of boycott calls last year over its marketing partnership with a transgender influencer, also has pulled back after offering Pride collections since 1999. The athletic brand said it won't have one this year; rather, it said it's focusing on programming and ongoing support for the LGBTQ+community. Some brands and influencers who work with the community report a noticeable decline in corporate partnerships. Rob Smith, founder and chief executive of The Phluid Project, a brand of gender-neutral clothing, cited a 25% drop compared with last June in the number of stores carrying his collection. “I guess they just decided this year, especially in an election year, with what’s going on, just to play it safe,” Smith said. He declined to reveal the names of his former retail clients. But he and other advocates see a silver lining. They think the low-key landscape partially reflects a desire by some companies to move beyond one-month expressions of support toward more enduring acts of allyship, such as regularly featuring LGBTQ+-owned brands and models. Here's what to know about the retail world and Pride Month: Many big retailers, including Levi's, Old Navy and Urban Outfitters, have put out Pride collections for years. Some brands limited their store displays to areas with large numbers of LGBTQ+ residents or visitors and expanded them to more places as LGBTQ+ rights progressed. Many more brands eventually got in on the action, especially after the U.S. Supreme Court legalized same-sex marriages in 2015. But as Pride became more commercialized, some advocates questioned the hoopla, saying support of the LGBTQ+ community shouldn’t be a seasonal marketing opportunity. Target introduced an annual collection of rainbow-branded fashion and accessories starting in 2015. It generated occasional opposition, but the reaction turned “volatile” ahead of last year's Pride Month, the company said. Customers at a handful of stores confronted employees and tipped over Pride displays, threatening workers' sense of safety, Target said. The discounter responded last year by removing some items and relocating some displays. Target declined to disclose how many of its stores don't have Pride merchandise this year; the locations that were stocked accounted for 90% of Pride sales from 2022 and 2023, it said. Pride items also are available on Target’s website. Meredith Browand, 47, who lives outside Seattle, was let down when she didn't see any Pride displays at her local Target. Browand, who considers herself an LGBTQ+ ally, said Target was where she always bought matching outfits for herself and her 5-year old daughter. “I'm disappointed in that there isn’t anything for us,” she said. “But a bigger disappointment is that it’s not visible for the greater community.” Many retailers contacted by The Associated Press said they haven't changed their approaches to commemorating Pride Month. Macy’s said its namesake department stores, its upscale Bloomingdale’s and its Bluemercury beauty stores each spotlight products from LGTBQ+-owned, founded and designed brands at select stores and online. Walmart offers an assortment from LGBTQ+ owned brands and creators available online and in some stores nationwide. Adidas, Converse and Levi Strauss & Co., which have brought out Pride Month collections for many years, did so again. Teen retailer American Eagle Outfitters plans to offer a year-round Pride collection to “promote acceptance and equality,” said Jennifer Foyle, president and executive creative director of American Eagle and Aerie, which sells women’s clothing. Marketing experts and LGBTQ+ rights advocates perceive that overall, brands aren't promoting their Pride Month products on social media as heavily as in past years. “It’s not dropping the support." said Barbara Kahn, a marketing professor at University of Pennsylvania's Wharton School. “But they’re dropping the spotlight." It's possible the shift reflects a natural progression, Kahn said. If lesbian, gay, bisexual, transgender and queer people are regarded as part of the norm, there’s no point in making a big statement, she said. Members of the LGBTQ+ community who previously got work tied to Pride Month cite a marked change in the demand for their services. Not all of them interpret the pullback as positive. Alysse Dalessandro, a plus-size fashion and travel blogger and LGBTQ+ content creator who posts under the handle @readytostare, said 35 clients hired her as a model for their Pride Month social media campaigns in 2022. The number dropped to nine last year and to five so far this year, the Cleveland, Ohio, resident said. “The hard part for me as a creator is that I can't change my identity. This is who I am," Dalessandro said. “How I make money is also who I am and who I love.” GLSEN, a nonprofit advocacy and education group that works to improve the school lives of LGBTQ+ students, also helps corporations craft Pride Month campaigns. The group started seeing a drop in revenue from such activities last year and experienced a bigger drop this year, according to Paul Irwin-Dudek, GLSEN's deputy executive director for development. He declined to elaborate. Irwin-Dudek said some companies have retreated, but plenty of others have doubled down in their commitment to promoting LGBTQ+ rights. At the same time, members of GLSEN's National Student Council who provided feedback to the Hollister fashion brand asked for fewer prominent rainbows and more messages of love, acceptance and individuality. The result: “Unapologetically You,” a summer campaign launched this month. Experts say special merchandising and marketing campaigns around other months designated to honor specific groups, including racial minorities and women, also are fading. Target CEO Brian Cornell told reporters last year the company had learned from the Pride backlash and planned to be more thoughtful in how it approached all heritage months. Smith, of The Phluid Project, said his own brand is getting away from rainbows and evolving into a year-round fashion collection. Low-cost Swedish retailer H & M sold a Pride collection in 2018 and 2019 but stopped doing so because it “chose not to commercialize Pride or other cultural months,” Donna Dozier Gordan, head of inclusion and diversity at H & M Americas, said. The company now focuses on reaffirming its dedication to the LGBTQ+ community in other ways, including by taking a prominent part in Pride marches globally. It said it would continue to donate as well as promote partnerships with groups like The Trevor Project, an American nonprofit that focuses on preventing suicides among LGBTQ+ youth.
Toyota shareholders demand vote against chairman Toyoda as automaker embroiled in testing scandal None - Toyota's chairman Akio Toyoda will be facing some disgruntled shareholders this week, as two major proxy groups demand a vote against keeping the grandson of the founder on its board TOKYO -- Toyota’s chairman Akio Toyoda will be facing some disgruntled shareholders this week, as two major proxy groups demand a vote against keeping the grandson of the founder on its board. The vote expected at the June 18 annual shareholders meeting comes after Toyota apologized recently over fraudulent certification tests for vehicles, a major embarrassment for a company that prides itself on a reputation for excellent quality. The raft of problems at Japanese automakers including Toyota are said not to involve any safety problems and no recalls were announced. But Toyota suspended production of three models produced by group companies in Japan. Toyota’s stock prices had tripled over the last five years to nearly 3,800 yen ($24) before cascading downward amid its latest troubles. Its shares are now trading at above 3,000 yen ($20) — a loss of about 3 trillion Japanese yen ($18 billion) in market value. Institutional Shareholder Services, majority owned by the German capital market company Deutsche Borse Group, which advises investors, said in its proxy report that Toyoda “should be considered ultimately accountable.” It noted his promises for change did not involve reshuffling of the board. While Toyota said it plans to communicate better with workers on the ground, that likely wasn’t enough to prevent a recurrence of problems with cheating on testing, ISS said. “The company’s propensity to preserve its corporate culture is in fact suspected, and Toyoda should be held accountable for that,” it said. ISS is not opposing appointments of other board members, including Toyota Chief Executive Koji Sato, who took up his post in 2023. The past year has brought a flurry of scandals involving improper checks on vehicles, including collision tests, at group companies Daihatsu Motor Co., which makes small models, truckmaker Hino Motors and Toyota Industries Corp., a manufacturer of forklifts and other machinery. Japanese officials say such violations were also found at Honda Motor Co., Mazda Motor Corp. and Suzuki Motor Corp. Another major shareholder, proxy advisory company Glass Lewis & Co. recommended voting against the reappointment of Toyoda and Shigeru Hayakawa, another top executive. “More specifically, we believe that Mr. Toyoda holds responsibility for failing to ensure that the Group maintained appropriate internal controls and for the failure to ensure appropriate governance measures were implemented at Group companies,” it said in its proxy report. “Moreover, given the widespread occurrence of issues throughout the Toyota Group, this further raises questions concerning the corporate culture which has developed under the leadership of Mr. Toyoda.” Hayakawa oversaw appointments of board members, and more independent board members should be added, according to Glass Lewis, which is based in San Francisco. It also recommended voting against a proposal on lobbying by Toyota on climate change, stressing a need for more disclosure. Under Toyoda, the automaker has pushed a “multi-pathway” approach to ecological vehicles, emphasizing hybrids, which have both a gasoline engine and electric motor, and using hydrogen for fuel instead of focusing on battery electric vehicles that some ecologists favor for cutting auto emissions. Toyoda is unlikely to be ousted at the general shareholders’ meeting, to be held at the company's headquarters in the central Japanese city named after the maker of the Prius hybrid, Lexus luxury models and Camry sedan. The biggest of Toyota’s nearly 1 million shareholders are Japanese companies such as Japanese banks and financial institutions that are unlikely to challenge the automaker. Toyota Industries, a group company, is the No. 2 shareholder. Tightly held cross-shareholdings among affiliates, long the rule in Japan, are gradually unraveling but longstanding loyalties are likely strong enough to keep Toyoda in his post. Last year, he won re-election with nearly 85% of the vote, although that was down from 96% in 2022. In a recent report on Toyota, Kazunori Maki, an auto analyst at SMBC Nikko Securities, noted that the shipments Toyota suspended affected just 1% or 2% of its global sales. He also hinted that factory workers might have skirted rules seen as meticulous but not vital for safety. In the fiscal year ended in March, Toyota's profits doubled from the previous year, to 4.9 trillion yen ($31.9 billion), exceeding its own projections, as vehicle sales surged and a weak Japanese yen inflated overseas earnings. Even though Toyota has lagged in shifting to EVs, the company is the world’s leading automaker, with sales of 9.4 million vehicles in the fiscal year that ended in March. The company is doing well, said Aaron Ho, an equity analyst at CFRA Research. The recent scandal would make only “a small dent,” he said. “So there are no fundamental issues. We merely think that since production is being halted — for likely a few months, we estimate — deliveries will be affected,” he told The Associated Press. “We really do not see any deterioration in the company’s culture or how the company is being managed.” In his apology over the latest problems, Toyoda referred to how he had faced a massive recall scandal in the U.S., shortly after becoming chief executive in 2009, over what was called “unintended acceleration.” Toyoda was questioned by Congress, and apologized. This time, he appeared to be reassuring himself as well as the public that Toyota had gone through worse, and survived. “We are not a perfect company. But if we see anything wrong, we will take a step back and keep trying to correct it,” he said. ___ Yuri Kageyama is on X: https://twitter.com/yurikageyama
Chinese premier promises more pandas and urges Australia to put aside differences None - Chinese Premier Li Qiang’s visit to Australia has focused on positive aspects of the bilateral relationship including shared giant pandas and a rebounding wine trade after he urged both countries to shelve their differences Chinese premier promises more pandas and urges Australia to put aside differences MELBOURNE, Australia -- Chinese Premier Li Qiang on Sunday promised a new pair of giant pandas to a zoo and urged Australia to set aside its differences with Beijing at the outset of the first visit to the country by China's second-highest ranking leader in seven years. China’s most powerful politician after President Xi Jinping arrived late Saturday in Adelaide, the capital of South Australia state, which has produced most of the Australian wine entering China since crippling tariffs were lifted in March that had effectively ended a 1.2 billion Australian dollar ($790 million) a year trade since 2020. Li's trip has focused so far on the panda diplomacy, rebounding trade including wine and recovering diplomatic links after China initiated a reset of the relationship in 2022 that had all but collapsed during Australia's previous conservative administration’s nine years in power. Relations tumbled over legislation that banned covert foreign interference in Australian politics, the exclusion of Chinese-owned telecommunications giant Huawei from rolling out the national 5G network due to security concerns, and Australia’s call for an independent investigation into the causes of and responses to the COVID-19 pandemic. Beijing imposed an array of official and unofficial trade blocks in 2020 on a range of Australian exports including coal, wine, beef, barley and wood that cost up to AU$20 billion ($13 billion) a year. All the trade bans have now been lifted except for Australian live lobster exports. Trade Minister Don Farrell predicted that impediment would also be lifted soon after Li’s visit with Chinese Commerce Minister Wang Wentao. Foreign Minister Penny Wong said Li’s visit was the result of “two years of very deliberate, very patient work by this government to bring about a stabilization of the relationship and to work towards the removal of trade impediments.” “We will cooperate where we can, we will disagree where we must and we will engage in our national interest,” Wong said before joining Li at Adelaide Zoo, which has been home to China-born giant pandas Wang Wang and Fu Ni since 2009. Li announced that the zoo would be loaned another two pandas after the pair are due to return to China in November. “China will soon provide another pair of pandas that are equally beautiful, lively, cute and younger to the Adelaide Zoo, and continue the cooperation on giant pandas between China and Australia,” Li said in Mandarin, adding that zoo staff would be invited to "pick a pair.” Wong thanked Li for ensuring that pandas would remain the zoo's star attraction. “It’s good for the economy, it’s good for South Australian jobs, it’s good for tourism, and it is a signal of goodwill, and we thank you,” Wong said. Li's visit is the first to Australia by a Chinese premier in seven years and marks an improvement in relations since Prime Minister Anthony Albanese’s center-left Labor Party was elected in 2022. Li noted that Albanese in November was the first Australian prime minister to visit China since 2016. “China-Australia relations were back on track after a period of twists and turns," Li said on arrival on Saturday, according to a translation released by the Chinese Embassy in Australia on Sunday. “History has proven that mutual respect, seeking common ground while shelving differences and mutually beneficial cooperation are the valuable experience in growing China-Australia relations." Hundreds of pro-China demonstrators, human rights protesters and democracy activists gathered outside the zoo before Li’s visit. Among the protesters was former Hong Kong lawmaker Ted Hui, who fled to Australia three years ago to avoid a prison sentence for his activism. He said the panda offer was a cynical move to soften China's image and to distract from the government's human rights failings. “It's a public relations move by the Chinese regime and, disappointingly, the Australian government is reciprocating by welcoming him and shaking hands,” Hui said. Hui said Li showed cowardice by entering the zoo by a rear entrance while most of the protesters and China supporters had gathered at the main entrance. But Hui and other protesters were able to shout slogans at Li from a distance inside the zoo. Li’s agenda became more contentious after he left Adelaide and arrived in the national capital, Canberra, late Sunday for Parliament House meetings on Monday with Albanese and other political figures. Li will visit a Chinese-controlled lithium processing plant in resource-rich Western Australia state on Tuesday. Albanese has said he will raise with Li recent clashes between the two countries’ militaries in the South China Sea and Yellow Sea that Australia argues endangered Australian personnel. Albanese will also raise the fate of China-born Australian democracy blogger Yang Hengjun, who was given a suspended death sentence by a Beijing court in February. Australia is also concerned for Hong Kong-Australia dual national Gordon Ng, who was among 14 pro-democracy activists convicted by a Hong Kong court last month for national security offenses. Li’s visit to Tianqi Lithium Energy Australia’s processing plant south of the Western Australia capital of Perth will underscore China’s interest in investing in critical minerals. The plant produces battery-grade lithium hydroxide for electric vehicles. Australia shares U.S. concerns over China’s dominance in the critical minerals, which are essential components in the world’s transition to renewable energy sources. Citing Australia’s national interests, Treasurer Jim Chalmers recently ordered five Chinese-linked companies to divest their shares in the rare earth mining company, Northern Minerals. Asked if Chinese companies could invest in processing critical minerals in Australia, Wong replied that Australia’s foreign investment framework was “open to all.” “We want to grow our critical minerals industry,” Wong said. Australia is the second stop of Li’s tour after New Zealand, and will end in Malaysia. ____ AP video producer Caroline Chen and writer Ken Moritsugu in Beijing contributed to this report.
Chinese Premier Li and New Zealand’s Luxon hail close ties as they sign trade deals in Wellington None - Chinese Premier Li Qiang has met with New Zealand Prime Minister Christopher Luxon in Wellington, where the two leaders played up the ability of “good friends” to respectfully disagree — while publicly diverging on little Chinese Premier Li and New Zealand’s Luxon hail close ties as they sign trade deals in Wellington WELLINGTON, New Zealand -- Chinese Premier Li Qiang met with New Zealand Prime Minister Christopher Luxon on Thursday in Wellington, where the two leaders played up the ability of “good friends” to respectfully disagree — while publicly diverging on little. Li, China’s No. 2 official, is the first Chinese premier to visit New Zealand since a 2017 visit by Li Keqiang. He will also travel to Australia and Malaysia, China’s Foreign Ministry said this week. The trip coincides with easing tensions between Australia and China that have vexed the relationship in recent years. After their meeting, Luxon and Li announced new agreements on trade, environmental and other issues. China is the South Pacific nation’s largest trading partner, with two-way trade worth 36 billion New Zealand dollars ($22 billion). They signed a bilateral free trade agreement in 2008 — China’s first with an Organization for Cooperation and Development nation — and Li's visit marked the 10th anniversary of a pledge to bolster ties signed in 2014 when China’s President Xi Jinping last visited Wellington. New Zealand has long sought to diversify its export market away from dependence on China, but Luxon on Thursday hailed Li's visit as a renewed opportunity for business, adding there were “huge” opportunities for more trade, citing China’s “rapidly rising middle class.” Wellington in recent years has struck a more moderate tone with Beijing on security matters than many of its Western partners — including the U.S., U.K., Australia and Canada — and has sought a consistent foreign policy approach to Beijing that spans political parties and administrations. That has often prompted milder remarks from New Zealand on Chinese human rights or security issues than its allies, but Luxon said Thursday the countries' “longstanding” relationship permitted disagreement. “The ability to be able to talk very directly and very upfront about issues that we might disagree on, have differences of opinions around, is actually a very good thing,” Luxon said. “It might be uncomfortable at times for both parties, but at least we’re actually able to do that.” Li, too, affirmed the two countries’ willingness to diverge. “It’s natural that we don’t always agree with each other on everything,” he told reporters. “But I think differences should not become a chasm that blocks our exchanges and communication. Instead, it should be a driving force for us to learn from each other and help each other develop.” The countries were “good friends,” Li added. Luxon, when asked by reporters how much of his meeting with Li had covered common ground and how much concerned the countries’ differences, replied: “Probably 50-50.” Luxon said he told the Chinese premier he would have “no tolerance” for foreign interference in New Zealand’s affairs. Luxon said Li had raised concern about Wellington’s possible participation in a trilateral security pact with Australia, the United States and Britain known as AUKUS. Li arrived in New Zealand's capital to a mostly warm public welcome, with supporters who lined the streets in the capital far outnumbering protesters denouncing China’s human rights record. Asked by reporters whether China was a good citizen in the global community, Luxon stopped short. “It’s an important one,” he said. Li’s upcoming visit to Canberra will cap two years of efforts to rebuild China-Australia relations after a period of intense challenges, including over regional security and human rights. It will mark the first visit there by a Chinese premier in seven years, and follows Albanese’s trip to Beijing last November and Chinese Foreign Minister Wang Yi’s trip to Australia and New Zealand in March. China has been steadily rolling back tariffs and other restrictions it placed on imports from Australia as relations soured in 2020. China opposes to Australia’s plan to acquire nuclear-powered submarines with assistance from the U.S. and the U.K., which it sees as part of American efforts to constrain China by deepening military ties with other countries in the region. But with Australia unlikely to bend on that issue, Li’s focus will likely be on moving past their differences and deepening economic ties. Australia, which has a trade surplus with China, is a major supplier of iron ore and other minerals to the world’s second-largest economy. ___ Associated Press journalist Ken Moritsugu in Beijing contributed to this report.
Boom in cataract surgery in England as private clinics eye huge profits None - Hundreds of thousands more NHS patients a year are having cataracts removed in England in a boom driven by private clinics – but funded by taxpayers. Doctors say the trend, which now means nearly 60% of NHS cataract operations are outsourced to private providers – up from 24% five years ago – is piling pressure on already stretched NHS finances and sapping the funds needed for more serious conditions that can lead to blindness. The surgery, a painless procedure to treat blurry vision by replacing the eye’s natural lens with an artificial one, usually takes 10 to 15 minutes and has become increasingly routine. The Royal College of Ophthalmologists says the number of cataract treatments has jumped by nearly 40% from pre-pandemic levels, meaning an extra 200,000 people a year are having the procedure on the NHS. It claims the jump is down to outsourcing to the private sector. But Ben Burton, the college’s president, says that while the independent sector helped reduce backlogs after the pandemic, it has “continued to expand to a level where there’s less and less benefit and more and more cost”. The Royal National Institute of Blind People is also concerned that the use of private providers is having a “destabilising effect on NHS eye care services”. It said: “It is also important to take into consideration the unequitable nature of the expansion of the independent sector, which has shown significant regional variation and favoured affluent areas.” NHS spending on cataracts has doubled in five years and there has been a jump in outsourcing, according to research published in March by the Centre for Health and the Public Interest (CHPI) thinktank. Its analysis of data from 37 of 42 integrated care boards in England found that the NHS paid private clinics about £700m for cataracts from 2018-19 to 2022-23, which doubled its overall annual spending on cataract procedures in NHS hospitals and private clinics from £218m to £437m. Over the five-year period, this helped push the share of the NHS eye care budget that is spent on cataracts up from 27% to 36%. “Free NHS cataract surgery in four weeks.” This tempting offer appears on Google when you search for SpaMedica, the biggest private provider of cataract surgery to the health service. It advises patients to ask their optician or GP to refer them for treatment at a hospital of their choice and says they should hear back within two to three weeks. The top five companies providing cataract surgery to the NHS have opened 101 new eye clinics between them over the past five years, taking the total to 126 in England. In 2022, they collectively made pretax profits of more than £100m, according to figures filed at Companies House, with SpaMedica earning £72m. NHS waiting lists for eye treatment have also grown in Scotland, forcing some patients to go private. Christine McAleer, 76, a retired nurse who lives in Rutherglen, near Glasgow, said she decided to go private after an optician’s eye test showed two signs of glaucoma and was told the NHS waiting list for a diagnostic examination was 80 weeks. “I’m totally against private care; I worked for the NHS for 35 years,” she said. “I didn’t want to go blind so I saw a private eye consultant. He said I didn’t have glaucoma but I needed cataract surgery.” View image in fullscreen Christine McAleer, 76, a retired nurse, paid £6,300 for cataract surgery in both eyes by a private provider. Photograph: Murdo MacLeod/The Observer She paid £6,300 from her savings for cataract treatment in both eyes at Ross Hall hospital in Glasgow, which is run by the UK’s biggest private health provider, Circle Health Group. Burton of the royal college said the outsourcing had been “a good thing immediately after Covid to get cataract waiting lists under control – but they’ve very rapidly come down to a sensible level in many areas of England.” He worries about hospitals losing staff and funding to private cataract clinics, making it harder for the NHS to treat eye conditions such as wet macular degeneration, the most common cause of preventable blindness in the UK, and glaucoma. “If you’ve reduced the number of the cataract waiting list considerably, that’s great,” said Burton. “But if you’ve got more people going blind from other conditions as a result of that policy, that isn’t desirable.” The CHPI has received data from 13 NHS trusts showing that waiting times for some irreversible eye conditions have increased over the five years to April 2023. NHS clinicians reported more than 200 cases of people losing some or all of their vision because of treatment delays since 2019, with hundreds more unreported cases suspected, according to data in a freedom of information request to NHS England made by the Association of Optometrists in March last year. Last October, the thinktank Reform found a backlog of follow-up outpatient appointments not captured in government statistics – comprising almost 10,000 ophthalmology patients for each trust – who were typically those at highest risk of avoidable sight loss. Cataracts, says Burton, do not need to be treated as quickly as more serious conditions. “A mild cataract is like having a dirty window in your house. For most patients, it’s not something that’s an emergency and if you leave it a few months longer, it doesn’t make any significant difference.” The Independent Healthcare Providers Network (IHPN), which represents SpaMedica and the other companies, counters that ophthalmology is the only big specialism where the median waiting times are now lower than in 2019, before the pandemic. Its chief executive, David Hare, said: “There are currently over 600,000 NHS patients waiting for ophthalmology treatment in England, and independent providers are helping to cut NHS waiting times and ensure as many patients as possible can be treated.” Colin Hutchinson, a retired consultant ophthalmologist and member of campaigning organisation Doctors for the NHS, is concerned that some people have cataract surgery unnecessarily and that they are not informed of the risk of serious complications such as permanent sight loss – of which there is a one in 1,000 chance. “Anyone over the age of 60 is going to have a little bit of cataract – that doesn’t mean you need to have a cataract operation,” he said. “There’s no great benefit in having surgery any sooner than you need it.” NHS England has recently taken private contractors to task over a marked increase in “complex” cataract procedures, for which the charges were as much as £400 higher. Complex cases have risen 144% in five years and the CHPI estimates this has cost the NHS £29m extra over the last two years alone. An NHS England consultation raised concerns about the rise in December 2022, saying it could not be explained by changes in patient complexity. In an official response to the consultation the following month, the royal college suggested the increase could be down to a practice known as “upcoding”. All treatments have payment codes and upcoding means providers charge for a more expensive one than they performed. The opportunity to do this is there, according to Simon Peck, who worked for the insurer Axa for nearly 25 years as head of audit and investigations, because the NHS coding system allows providers to claim additional payment where a case is more complicated or the patient is older or has comorbidities. “This choice is offered for good reasons; however, it also opens the door to potential abuse, particularly if there are not sufficient controls and procedures in place.” skip past newsletter promotion Sign up to Observed Free weekly newsletter Analysis and opinion on the week's news and culture brought to you by the best Observer writers Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion Hare of the IHPN said: “Robust checks, including external audits, are in place and local NHS integrated care systems, who commission healthcare activity, work closely with providers to ensure that coding is accurate.” NHS England changed the tariffs in April this year so there is only a £30 difference between routine and complex cataract treatments – £868 for a routine operation and £898 for a complex cataract. NHS England has not yet done an analysis of the impact of private eye clinics on waiting times for cataract surgery and more serious eye diseases. A spokesperson said: “Thanks to the hard work of staff, the NHS has increased the number of cataract operations for patients and brought down the backlogs which inevitably built up during the pandemic. “This has been achieved through a range of measures, including using the independent sector where needed to help deliver treatments, with prices constantly reviewed to ensure they are at a fair price for taxpayers.” Among the critics of private sector involvement is David Hinchliffe, an ex-Labour MP and former chair of the health select committee. He was referred for a cataract removal by his GP to a local NHS eye clinic within the Calderdale and Huddersfield NHS foundation trust. However, the trust referred him “without my knowledge”, he said, to a private company based in Sheffield, Pioneer Healthcare, which was sold in 2022 to the healthcare provider Totally. The appointment was declined by Hinchliffe, whose GP did not know about his referral to Pioneer Healthcare and later referred him to Barnsley hospital NHS trust. It found that he did not need cataract surgery, but he is being monitored for loss of vision in his right eye caused by a hole in his retina. Hinchliffe wrote to his NHS trust, saying: “I’m not prepared to go to this company because I don’t want to be treated by the private sector. I object in principle to the fact that the people who are working for this private company also work part-time in the NHS and if they worked full-time in the NHS there would be no need to use the private sector.” Totally said: “We do not provide treatment to private patients and all our care is delivered on behalf of NHS, free at the point of treatment to our patients. Waiting lists continue to grow, which means new ways need to be identified to create more capacity.” The NHS spends years training doctors and nurses who go off to work privately, some leaving their NHS work behind entirely, while independent providers train far fewer people. There is also a huge shortage of consultant ophthalmologists in the UK. The royal college says there are just under 1,700 consultants, about 380 short of the number needed. Under NHS regulations, optometrists should offer a list of five different providers for cataract surgery for patients to choose from. Optometrists can advise, however, on the best choice, and have sometimes been indirectly incentivised to refer patients to private clinics because they get a fee, typically about £50, for a follow-up appointment, which they would not get from an NHS hospital. Addressing an NHS conference recently, the former Axa audit chief Peck warned about the risks of private sector use. Now working as chief medical adviser at Kirontech, a company that provides software and analyses healthcare billing data to detect fraud and poor practice, he has found that “misbilling is endemic in every health system I have worked in”. He says that the NHS “needs to protect itself against financial exploitation”. Peck also says the NHS should follow in the footsteps of insurers and set up auditing teams that scrutinise billings, spot unusual trends and reclaim money where necessary from private healthcare providers. “With both Labour and Conservatives, they [the NHS] are going to use private providers and they need a degree of awareness that I just don’t think they have of the risks they are running,” he said. Top private providers of cataract treatments to NHS The largest provider of is SpaMedica. Founded in 2008 by Anil Pitalia, a trained eye surgeon turned businessman, as an eye and skin treatment centre in Manchester, it now runs 55 hospitals in England. Its UK parent is part of a German company that is in turn owned by French private equity firm PAI Partners and the Ontario Teachers’ Pensions Plan board. Pitalia heads an eponymous private family office that has invested in warehouses, the Granary office building in Leeds and Aeroworks in Manchester. Another leading chain of eye clinics is Newmedica, which as of March last year provided services for 19 NHS contracts at 28 sites. It was founded in 2007 by Darshak Shah, an entrepreneur, and Jeremy Diamond, a glaucoma specialist who was an NHS consultant at the Bristol Eye hospital and now works privately. They sold Newmedica to Specsavers in 2020. London-based Optegra, a chain of 18 UK clinics, is owned by the private equity firm MidEuropa and also operates in Poland, the Czech Republic and Slovakia. It has been run by chief executive Peter Byloos since 2018. Preston-based Community Health and Eyecare Limited is a chain of more than 25 hospitals. It was founded and is run by Imran Rahman, a former NHS consultant ophthalmologist at Blackpool Victoria hospital. Anglia Community Eye Care Service was acquired by Optical Express founder and chief executive David Moulsdale in January 2021, and folded into his Glasgow-based laser eye surgery firm. Moulsdale made it into the Sunday Times rich list for the first time this year, with an estimated fortune of £374m.
Markets News, June 17, 2024: Autodesk, Broadcom Lead Nasdaq to Sixth Straight Record None - GameStop Shares Sink After Uneventful Annual Meeting GameStop (GME) shares plunged Monday as the struggling video game retailer’s delayed annual shareholder meeting ended with apparently few insights into the company’s future for investors to consider. Reports said Chief Executive Officer (CEO) Ryan Cohen at the meeting told shareholders the company plans to continue cutting costs and wants to move to running a smaller number of stores selling higher-priced items. General Counsel Mark Robinson confirmed that the company raised $3 billion from stock sales recently, but provided no other details. The meeting had been delayed from Thursday when demand for a live stream of the event overwhelmed third-party servers. Shares of GameStop have been on a roller-coaster ride in recent weeks after one of the key drivers of the 2021 meme-stock craze, Keith Gill, resurfaced on social media after several years to again show his support for the stock. The stock was down about 10% late in the day but remained more than 40% higher year-to-date. -Bill McColl Adobe Charged by Federal Officials With Deceiving Customers Shares of Adobe (ADBE) fell in intraday trading Monday as the federal government accused the software company and two of its executives of deceiving consumers about fees and making it tough for them to get out of their subscriptions. The District Attorney for the Northern District of California filed the lawsuit in San Jose on the recommendation of the Federal Trade Commission (FTC). It alleges that the maker of Photoshop and Acrobat hid the early termination fee for its most popular subscription plan and made it difficult for consumers to cancel their subscriptions. The complaint argued that Adobe “pushed consumers toward the ‘annual paid monthly’ subscription without adequately disclosing that cancelling the plan in the first year could cost hundreds of dollars.” Adobe shares were down 1.2% Monday afternoon. They have lost about 13% of their value this year despite surging last Friday following a better-than-expected earnings report. -Bill McColl Broadcom Hits Fresh Record High After Stock Split Announcement Shares of semiconductor maker Broadcom (AVGO) continued rising Monday, setting a fresh record high and extending a stretch that began with last week's earnings report, which included the announcement of a 10-for-1 stock split set to take effect next month. AI-related revenue made up about a quarter of Broadcom's $12.49 billion in revenue for the second quarter, and the company also raised its revenue targets for the full fiscal year. A number of analysts raised their price targets for the company following last week's earnings report, saying the company is a "critical piece" to the growth of the AI industry, along with other tech heavyweights like Nvidia (NVDA) and Alphabet's (GOOGL) Google. Broadcom stock was on pace to close higher for a seventh straight session, up 5.5% at $1,830 Monday afternoon. Shares are up more than 60% in 2024. -Aaron McDade Adidas Probing Accusations of Kickbacks Given to Employees in China Adidas is investigating potential compliance violations by its employees in China following a whistleblower complaint accusing high-level executives of receiving millions of euros in bribes. The German sneaker giant said that it received an anonymous letter on June 7 and is “currently intensively investigating this matter together with external legal counsel.” The story was first reported in the Financial Times on Sunday. It said the letter, purportedly written by "employees of Adidas China," initially appeared briefly on a Chinese social media site earlier this month. The post named several workers in China who allegedly took kickbacks, including a senior manager who is accused of having received "millions in cash from suppliers, and physical items such as real estate." The company said in a statement to Investopedia that it takes allegations of possible compliance violations “very seriously,” and is “clearly committed to complying with legal and internal regulations and ethical standards in all markets where we operate.” American depositary receipts (ADRs) of Adidas (ADDYY) traded more than 2% early Monday afternoon. -Bill McColl Micron Technology's AI Reach Leads To a BofA Price Target Increase Shares of Micron Technology (MU) gained Monday after Bank of America raised its price target, saying the chipmaker will benefit from the booming demand for artificial intelligence (AI) products. BofA lifted the price outlook to $170 from $144, calling Micron its “top US memory company.” The researchers explained that they believe “the emerging market for AI features on-device, aka Edge AI,” will "slowly but steadily supplement core or data center AI hardware." They noted that the two most important beneficiaries of Edge AI will be manufacturers of compute and memory chips. The researchers wrote that because of rising demand for AI-powered personal computers, and the need for those to have more memory, plus their higher price tag, they are increasing Micron’s sales outlook for the 2025 calendar year and 2026 estimate by 10% and 12%, respectively. They also boosted their pro forma CY25/26E earnings per share (EPS) forecast by 20%/21%. Micron Technology shares rose 2% and are nearly 70% higher this year. -Bill McColl Autodesk Stock Jumps After Starboard Value Reportedly Pushes for Change Shares of Autodesk (ADSK) jumped Monday after The Wall Street Journal reported that activist investor Starboard Value had taken a stake of roughly $500 million in the engineering design software company and is pushing for changes. Citing people familiar to the matter, the Journal reported late Sunday that Starboard recently met with Autodesk executives to discuss concerns about the company’s operations, corporate governance, and a recent accounting probe. The activist investor thinks the software maker should improve its margins and shake up its board, the sources added. Autodesk’s stock price has come under pressure this year after the company announced in April that it had delayed releasing its annual report due to an investigation into its accounting practices relating to its cash flow and operating margins. Last month, the company provided an update, saying the probe found no material issues and that adjustments to its financial statements weren’t required. However, Starboard criticized Autodesk in the recent meetings for failing to disclose the internal investigation until after the window to nominate new board members had closed in March, the report said, adding that the activist investor is considering legal action to reopen the nomination window and to delay Autodesk’s annual shareholders meeting slated for July 16. Source: TradingView.com. Taking a look at the weekly chart, Autodesk shares have oscillated within an ascending channel since mid-March 2022 despite the 50-day moving average (MA) remaining below the 200-day MA for most of that time, a technical signal typically indicating a downtrend. More recently, the price broke down below the channel’s lower trendline but promptly reversed to close back within the pattern, potentially creating a bear trap. Given the mixed signals on the chart, investors should be prepared for a move in either direction. With the stock climbing, t’s worth keeping an eye on the $280 level, an area where the price may run into selling pressure near the channel’s upper trendline. On the downside, a close beneath last month’s low at $195.32 could lead to a retest of the $175 region that finds longer-term support from a trendline roughly connecting the July 2019 swing high and June 2022 swing low. Autodesk shares rose 5% and are down 3% in 2024. -Tim Smith Primo Water Stock Jumps After Announcing Merger With Poland Spring Parent Shares of bottled water company Primo Water (PRMW) jumped Monday after the company announced plans to merge with BlueTriton, which owns brands like Arrowhead, Deer Park, and Poland Spring. The all-stock transaction would see Primo shareholders own 43% and BlueTriton shareholders 57% in the combined company with $6.5 billion in annual revenue. Primo said that the company plans to pay a special dividend of 82 cents per share to shareholders before the deal closes, in addition to its regular quarterly dividend of 9 cents per share. The companies said the newly formed entity plans to continue paying Primo's previous quarterly dividend, but said a new long-term dividend policy will be created once the merger is complete. The special dividend is expected to be paid after Primo's board approves the merger and other details of the transaction have been finalized. The new company has not yet been named, but Primo and BlueTriton said that they expect it to continue being traded on the New York Stock Exchange (NYSE). Once the deal is approved by Primo shareholders, the companies said the transaction is expected to close in the first half of next year. The combined entity would maintain dual headquarters in Tampa, Fla., and Stamford, Conn., where Primo and BlueTriton are respectively based. Primo's Rietbroek and CFODavid Hass will serve in the same roles with the new company, while BlueTriton COO Rob Austin will be the operating chief of the merged entity. Primo shares jumped 6% bringing their gaines year-to-date to more than 60%. -Aaron McDade
‘Like a sober person taking the DUI test’: Nicolle on Trump bragging about cognitive test None - Eddie Glaude, Princeton University Professor and Tim Miller, former spokesperson for the RNC join Nicolle Wallace on Deadline White House to discuss how right wing media and the Republican National Committee are using deceptive and edited videos of President Biden to cover up for the constant metal lapses of their preferred candidate who loves to brag about passing a cognitive test.June 17, 2024
Biden blasts Trump as convicted felon as general election season heats up None - Claire McCaskill, former Senator from Missouri, Tim Miller, former spokesperson for the RNC joins Nicolle Wallace on Deadline White House with reaction to President Biden and his campaign kicking their attacks up against former President Trump, reminding the voters that their opponent has been found guilty of 34 felonies, and still awaits trial for allegedly mishandling classified information, and trying to overturn an election he lost.June 17, 2024
Maryland governor pardons more than 175,000 marijuana convictions None - Maryland Governor Wes Moore signed an executive order pardoning more than 175,000 marijuana convictions, with an estimated 100,000 individuals being affected by the pardons,. Those pardoned will see their information taken out of criminal databases in the next 10 months.June 17, 2024
Judge orders railway to pay Washington tribe nearly $400 million for trespassing with oil trains None - SEATTLE -- BNSF Railway must pay nearly $400 million to a Native American tribe in Washington state, a federal judge ordered Monday after finding that the company intentionally trespassed when it repeatedly ran 100-car trains carrying crude oil across the tribe's reservation. U.S. District Judge Robert Lasnik initially ruled last year that the railway deliberately violated the terms of a 1991 easement with the Swinomish Tribe north of Seattle that allows trains to carry no more than 25 cars per day. The judge held a trial earlier this month to determine how much in profits BNSF made through trespassing from 2012 to 2021 and how much it should be required to disgorge. The company based in Fort Worth, Texas, said in an email it had no comment on the judgment. The tribe, which has about 1,400 members, did not immediately respond to an email seeking comment. The tribe sued in 2015 after BNSF dramatically increased, without the tribe’s consent, the number of cars it was running across the reservation so that it could ship crude oil from the Bakken Formation in and around North Dakota to a nearby refinery. The route crosses sensitive marine ecosystems along the coast, over water that connects with the Salish Sea, where the tribe has treaty-protected rights to fish. Bakken oil is easier to refine into the fuels sold at the gas pump and ignites more easily. After train cars carrying Bakken crude oil exploded in Alabama, North Dakota and Quebec, a federal agency warned in 2014 that the oil has a higher degree of volatility than other crudes in the U.S. Last year, two BNSF engines derailed on Swinomish land, leaking an estimated 3,100 gallons (11,700 liters) of diesel fuel near Padilla Bay. The 1991 easement limited rail traffic to one train of 25 cars per day in each direction. It required BNSF to tell the tribe about the “nature and identity of all cargo” transported across the reservation, and it said the tribe would not arbitrarily withhold permission to increase the number of trains or cars. The tribe learned through a 2011 Skagit County planning document that a nearby refinery would start receiving crude oil trains. It wasn’t until the following year that the tribe received information from BNSF addressing current track usage, court documents show. The tribe and BNSF discussed amending the agreement, but “at no point did the Tribe approve BNSF’s unilateral decision to transport unit trains across the Reservation, agree to increase the train or car limitations, or waive its contractual right of approval,” Lasnik said in his decision last year. “BNSF failed to update the Tribe regarding the nature of the cargo that was crossing the Reservation and unilaterally increased the number of trains and the number of cars without the Tribe’s written agreement, thereby violating the conditions placed on BNSF’s permission to enter the property,” Lasnik said. The four-day trial this month was designed to provide the court with details and expert testimony to guide the judge through complex calculations about how much in “ill-gotten” profit BNSF should have to disgorge. Lasnik put that figure at $362 million and added $32 million in post-tax profits such as investment income for a total of more than $394 million. In reality, the judge wrote, BNSF made far more than $32 million in post-tax profits, but adding all of that up would have added hundreds of millions more to what was already a large judgment against the railway.
Sabato de Sarno unveils Gucci precision saturated in color to close Milan Fashion Week None - It’s been creative director musical chairs at some of Italy’s top fashion houses, and the pressure is showing, at least on social media MILAN -- It’s been creative director musical chairs at some of Italy’s top fashion houses, and the pressure is showing, at least on social media. Gucci’s Sabato De Sarno presented his third collection in Milan on Monday, still the most highly anticipated runway show of the week as Gucci undergoes a major style transition. Hours earlier, Valentino, the fashion house that snapped up his predecessor Alessandro Michele, launched images on social media of Michele’s first resort collection for Rome-based Valentino, which previews its collections in Paris. Commentators couldn’t help but notice the similarities to his Gucci years. Anyone with complicated family dynamics can understand just how fraught the timing was. Gucci is owned by the French conglomerate Kering, which has a 30-percent stake in Valentino, an important but not determinant share. Add to that, De Sarno is a Valentino alum, whose recent resort collection included a pussy bow that was one of the codes Michele brought to Gucci. Michele's runway debut for Valentino is expected in Paris for womenswear previews in September. Some highlights from the fourth and final day of Milan Fashion Week, mostly menswear previews for Spring-Summer 2025: Sabato De Sarno’s sophomore menswear collection for Gucci was all about precise silhouettes saturated in color. A long, acid-green bonded leather coat over thigh-baring shorts and a netted shirt set the tone for an outing that was both rigorous and edgy. Models strode through the atrium of Milan’s Triennale design museum, in tribute to De Sarno’s view of museums as “nourishing” spaces. In that vein, he invited 400 fashion students to watch the show, and was meeting with them afterward. Part of the brand’s relaunch has been moving to spaces away from the sprawling Gucci Hub on Milan’s outskirts, as De Sarno lays claim to Italy’s fashion capital one venue at a time. His Spring-Summer 2025 collection featured wearable elements easily composed to one’s desire, reflecting De Sarno’s wish “that people feel free and welcomed in my clothes.” Amid the structure of the bonded leather jackets and crisp poplin suits, there was a lot of movement, in undulating, vivid repeating prints of surfers and dolphins on boxy bowling shirts, shimmering beaded fringe jackets in shades of lemon or lime, and long-sleeve hand-knit polo shirts sparkling with embedded sequins. A subtle jacquard was a rare sign of the Gucci logo. Fresh styling conceits included chunky sunglasses that, when not worn, could be strapped backward around the neck with a brightly colored Gucci cord. Highly constructed bags were inspired by archival luggage, and include detachable pieces. Sneakers and scuba slip-ons featured molded soles. Media-shy De Sarno said in press notes that the collection “speaks about freedom.” “I feel free when there is no distance between my words and my thoughts, between my actions and my heart,’’ he wrote. De Sarno has the full endorsement of Serena Williams, who sat in the front row between Kering boss Francois-Henri Pinault and her sister Venus. ‘’It was a beautiful collection. I think Sabato is a great designer,'' Serena Williams said backstage. "Gorgeous, gorgeous, gorgeous. I have to say I thoroughly enjoyed it.'' Speaking to the versatility of the looks, Williams said she saw plenty on the runway meant for menswear that she liked for herself. “Honestly, I loved that light blue suit in the end. It wasn't really for me, but I totally could vibe in that,'' she said. "A lot of the bags were nice. Those purple shoes were really cool.” Williams, dressed in a pretty peach suit with a sparkly knit top, was joined by sister Venus, wearing a Gucci Pantone red leather coat. Venus also showed up at JW Anderson's show Sunday night. Also on hand was Irish actor Paul Mescal, keeping cool in striped shorts and a GG monogrammed blue dress shirt. There has been one constant at the Giorgio Armani fashion house for the last 49 years, and that’s Giorgio Armani. His looks are a steady evolution of the relaxed tailoring that has characterized his fashion empire. Soothing hues set the mood for the Spring-Summer 2024 collection, where the loose, often pleated, trousers were the star. Jackets were worn open, and shirts were often collarless or with casual shawl collars. Silken trousers featured big side pleats, billowing with each step. Small slit pockets provided utility. Vests added a ruffian flair, with or without shirts. Scrunchy sun hats were packable. Models walked slowly, deliberately, on a runway surrounded by video images of tropical plants — a motif of the season. Some smiled, as the designer has urged in recent seasons. Turning 90 next month, Armani remains firmly at the center of his fashion group, launched in 1975, and is always on hand to take a bow after his shows. This round, he was joined by his long-time right-hand-man Leo Dell’Orco, who heads the group's men's style office, and Gianluca Dell’Orco, head of Giorgio Armani men's styling office. Russell Crowe was front row for the show at Armani’s Milan theater. Clad in jeans, the actor said he was jet-lagged and wanted to be comfortable. He may well have spotted something from the runway that fits that bill.
New Jersey power broker is charged with racketeering in waterfront redevelopment case None - New Jersey’s attorney general has charged Democratic power broker George Norcross with racketeering and other crimes in connection with government issued tax credits TRENTON, N.J. -- New Jersey Democratic power broker George E. Norcross III was charged Monday with operating a racketeering enterprise, threatening people whose properties he sought to take over, and orchestrating tax incentive legislation to benefit organizations he controlled. Norcross, seated in the front row during a news conference by Attorney General Matt Platkin, angrily denounced the charges, later calling Platkin a “coward” and demanding a speedy trial. The charges against the 68-year-old Norcross and five others come as New Jersey is already under a political and legal microscope, with Democratic U.S. Sen. Bob Menendez on trial in New York on federal corruption charges. Platkin, also a Democrat, cast the charges as law enforcement cracking down on wrongdoing. “When we say no one is above the law, we mean it and we will continue to hold accountable anyone who puts their interest above the public interest, no matter how powerful they may be,” Platkin said. In a 111-page indictment unsealed on Monday, the attorney general alleges a scheme reaching back to 2012 in which the defendants — called the “Norcross Enterprise” in the indictment — used his political influence to craft legislation that served their own interests. Among the allegations against Norcross are charges that he threatened a developer who would not relinquish his rights to waterfront property in Camden, New Jersey, on Norcross’ terms. The indictment cites a profanity-laden phone recording of Norcross in which he tells the developer he will face “enormous consequences.” The person asks if Norcross is threatening him, according to the indictment. “Absolutely,” Norcross replies. The indictment also said Norcross and the co-defendants extorted and coerced businesses with property rights on Camden's waterfront and obtained tax incentive credits, which they then sold for millions of dollars. Platkin described Camden as long suffering from economic decline. Defense lawyer Michael Critchley accused Platkin of having a “vendetta” against Norcross, noting that the waterfront development had been investigated for years by several agencies, including federal prosecutors in Philadelphia and New Jersey, as well as Platkin’s predecessor. “And every agency that looked at this matter for the past seven years … came up with nothing,” he said at a news conference. Norcross, the executive chairman of the insurance firm Connor Strong & Buckelew, had been widely viewed as among the most influential unelected Democrats in the state. He was a Democratic National Committee member until 2021 and previously served as the head of the Camden County Democratic Party. A close friend to the former state Senate president, he was a behind-the-scenes power player and well-known financial backer to Democrats in the state and nationwide. Norcross, a resident of Palm Beach, Florida, once listed as a member of Donald Trump's Mar-a-Lago club, cast the prosecution as politically motivated. He said Platkin blamed southern New Jersey Democrats for fallout from allegations that a staff member on Murphy's 2017 gubernatorial campaign had been sexually assaulted. It wasn't immediately clear what that fallout was. Platkin was Murphy's general counsel when the Legislature investigated the allegations. “I want Matt Platkin to come down here and try this case himself, because he’s a coward, because he has forced people in this building to implement his will,” Norcross said Monday outside the attorney general's office. Norcross explained why he appeared at the news conference. “I want to witness an extraordinary embarrassment and outrageous conduct from a government official who stands up there and tries to act like he’s holier than thou,” Norcross said. In addition to Norcross, the defendants are: his brother Philip A. Norcross, 61, of Philadelphia, a New Jersey lawyer; George Norcross’s longtime lawyer William M. Tambussi, 61, of Brigantine, New Jersey; Camden Community Partnership chief executive and former Camden Mayor Dana L. Redd, 56, of Sicklerville, New Jersey; Sidney R. Brown, 67, of Philadelphia, chief executive of trucking and logistics company NFI; and development company executive John J. O’Donnell, 61, of Newtown, Pennsylvania. An attorney representing Philip Norcross called him a stellar lawyer with an “unblemished reputation.” “The notion that he would be charged with crimes is simply outrageous,” Kevin Marino told The Associated Press. Marino declined to address specific allegations in the indictment. Philip Norcross, the attorney, and U.S. Rep Donald Norcross, are all brothers of George. A message left for the congressman was not immediately returned. Henry Klingeman, Redd's attorney, said she was surprised by the charges. “She’s done nothing wrong,” Klingeman said. “What she has done is serve the Camden community in public and not-for-profit roles for more than three decades. She has cooperated fully with the grand jury investigation for over a year and is unaware of evidence of wrongdoing by her or others.” Messages seeking comment were left with a lawyer for Tambussi. Brown and O'Donnell had no attorneys yet, according to the attorney general's office. ___ Associated Press reporters Mark Scolforo in Harrisburg, Pennsylvania; Maryclaire Dale in Philadelphia; and Wayne Parry in Pleasantville, New Jersey, contributed to this report. ___ This story has been corrected to show one of the defendants is William M. Tambussi, not Tambusi.
Scooter Braun says he’s no longer a music manager, will focus on Hybe duties and his children None - Scooter Braun, one of the most recognizable names in the music business known for representing artists like Justin Bieber and Ariana Grande, will no longer work as a music manager Scooter Braun says he’s no longer a music manager, will focus on Hybe duties and his children NEW YORK -- NEW YORK (AP) — Scooter Braun, one of the most recognizable names in the music business known for representing artists like Justin Bieber and Ariana Grande, will no longer work as a music manager. On Monday, the executive and entrepreneur announced the news on his Instagram page. Instead, he will focus his attention on his current roles: As a board member of Hybe, and CEO of Hybe America, the South Korea entertainment company. The announcement comes nearly a year after Braun's direct management of his superstar roster was subject of intense speculation. “After 23 years this chapter as a music manager has come to an end,” he wrote in a lengthy statement. “I was really just 19 years old when I started. So for my entire adult life I played the role of an artist manager on call 24 hours a day, 7 days a week. And for 20 years I loved it. It’s all I had known. But as my children got older, and my personal life took some hits. “Every client I have had the privilege of working with has changed my life, and I know many of them are just beginning to see the success they deserve,” he continued. “I will cheer for every single one of them.” In his statement, Braun mentioned a number of his clients from over the years: Grande, Bieber, Andrew Watt, Lil Dicky, Tori Kelly, J Balvin, Demi Lovato, Zac Brown Band, Martin Garrix, David Guetta, Steve Angello, Carly Rae Jepsen, PSY and Quavo among them. Last week, representatives from Hybe said Braun was no longer managing Grande, but that she was still working with him. “ Ariana Grande and Hybe, led by CEO Scooter Braun, look forward to continuing their long-standing business partnership and pursuing creative opportunities in Weverse and REM Beauty,” a statement read. In August, rumors circulated online that Bieber was leaving Braun, his longtime manager — and the man credited with discovering him. In the days that followed, media outlets began reporting that some of Braun’s other hype-profile clients like Grande and Lovato were also parting ways with him. A person familiar with SB Projects’ business dealings, who was not authorized to speak publicly, told The Associated Press at the time that the artists on the company’s roster have day-to-day managers who are not Braun, and he consults with them. The person noted that no single person would be able to manage his roster of some of the biggest names in music on their own. Representatives for Carly Rae Jepsen, BabyJake, and Asher Roth confirmed to AP last summer that those artists no longer work with Braun and haven’t for quite some time. And a person close to Idina Menzel told AP the singer is no longer managed by Braun but was not authorized to speak publicly. At the time, there was speculation that Braun’s artists were leaving SB Projects management because he was placing his focus on HYBE America instead of acting as an artist manager, but there was no official confirmation, until Monday. Braun said in his statement that his silence was his attempt to take “the high road.” "But for the last 3 years I have begun to feel that taking the high road has created confusion and ambiguity as to who we are,” Braun said, citing members of his team that are now handling artist management responsibilities. AP's request for additional comments were directed back to Braun's Instagram statement, which addressed multiple aspects of his business interests. “We at Hybe will continue to grow,” Braun detailed some of his future goals. “With... our existing business at Big Machine, we will continue to add amazing execs and artists to the roster.” In 2019, Braun bought Big Machine Records, the label that originally signed Taylor Swift and released her first six records. Its CEO Scott Borchetta stayed in place. With the purchase, Braun purchased ownership to Swift’s master recordings, which he sold to an investment fund the following year. As a result, Swift announced that she would re-record her albums to own her new masters in a project called “Taylor’s Version.”
Video ‘Inside Out 2’ smashes box office opening weekend None - 2020’s DNC and RNC are different than any before