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Japanese executive among dozens arrested in Myanmar for allegedly selling rice above set prices None - Myanmar’s state-run media say the country's military government has arrested a Japanese business executive, along with dozens of local businessmen, for allegedly selling rice at prices well above the officially regulated ones BANGKOK -- Myanmar’s military government has arrested a Japanese business executive, along with dozens of local businessmen, for allegedly selling rice at prices well above the officially regulated ones, state-run media said Monday. The reports said Hiroshi Kasamatsu, a director of Aeon Orange, was detained. Aeon Orange operates several supermarkets in Myanmar and is part of Japan’s giant Aeon retail group. Japanese media reports confirmed that Kasamatsu is one of its executives. Rice is vital as Myanmar struggles to keep its economy on an even keel as civil war disrupts efforts to recover from the COVID-19 pandemic. The army seized power from the elected government of Aung San Suu Kyi in 2021, triggering nonviolent protests that have evolved into armed resistance. The state-run Myanma Alinn newspaper reported Monday that the arrests for allegedly selling rice for prices ranging from 31% to 70% over official prices set by the Myanmar Rice Federation involved 62 suspects, 102 warehouses, 53 supermarkets and superstores, 25 mills and seven other shops in major cities. The violations could bring prison terms of six months to three years in 11 cases, including Kasamatsu's, and fines and tax payments for the others. A World Bank report last month said nearly a third of people in Myanmar are living in poverty and the economy is about 10% smaller than before the pandemic. The displacement of more than 3 million people from their homes by fighting has caused a major humanitarian crisis. Meanwhile, the value of Myanmar’s currency, the kyat, has sunk and many businesses are struggling with the gap between the official currency exchange rate set by the central bank of 2,100 kyat to the dollar and the more widely used free market rate of about 4,500 to the dollar. Japan has historically maintained warm relations with Myanmar. It takes a softer line toward Myanmar’s current military government than many Western nations, which treat it as a pariah state for its poor human rights record and undermining of democracy and have imposed economic and political sanctions. In Tokyo, Japan's Chief Cabinet Secretary Yoshimasa Hayashi confirmed to reporters that a male Japanese citizen, whom he didn't name, was being investigated at a police station in Yangon. Hayashi said the Japanese government will provide necessary support for him through the embassy and “the government of Japan will call on the local authorities to release the Japanese national as soon as possible."
Roaring Kitty reveals stake in Chewy big enough to make him 3rd largest investor in the pet retailer None - Shares of Chewy have fallen in volatile trading after a regulatory filing revealed that Roaring Kitty, an investor at the center of the meme stock craze, has taken a 6.6% stake in the online pet retailer Roaring Kitty reveals stake in Chewy big enough to make him 3rd largest investor in the pet retailer NEW YORK -- Shares of Chewy fell Monday in volatile trading after a regulatory filing revealed that Roaring Kitty, an investor at the center of the meme stock craze, has taken a 6.6% stake in the online pet retailer. Roaring Kitty, whose legal name is Keith Gill, bought more than 9 million shares of Chewy last week, the Securities and Exchange Commission filing shows. Based on Friday's $29.05 closing price, that amounts to a value of over $261 million — making him the company's third-largest shareholder. Shares in Chewy jumped more than 20% before the opening bell. But they ended the day down almost 7%. Chewy, based in Plantation, Florida, did not immediately respond to a request for comment. Gill tipped his hand last week on his feelings about the company, posting a picture of a dog on social media platform X and sending Chewy's stock up more than 30% in intraday trading. Gill made a name for himself in 2021, when he rallied retail investors around GameStop. At the time, the video game retailer was struggling to survive — and big Wall Street hedge funds and major investors were betting against it, or shorting its stock. But Gill and those who agreed with him changed GameStop's trajectory by buying up thousands of shares in the face of almost all accepted metrics that told investors that the company was in serious trouble. That began what is known as a “short squeeze,” when those big investors that had bet against GameStop were forced to buy its rapidly rising stock to offset their massive losses. GameStop saw yet another rally in May — when Gill returned online for the first time in three years. Gill has said he has faith in the ability of GameStop's Chairman and CEO Ryan Cohen to modernize the company after what he did at Chewy. Cohen co-founded Chewy back in 2011. He stepped down from his role of Chewy's CEO in 2018. Gill’s actions have raised questions about whether he could be accused of stock manipulation. A lawsuit was filed Friday accusing Gill of engaging in a “pump and dump scheme” in regards to GameStop. But a court filing Monday indicated the plaintiff had voluntarily withdrawn the suit.
In fight against blight, Detroit cracks down on business owners who illegally post signs None - William Shaw says he has learned his lesson after repeatedly being cited for illegally posting hundreds of signs promoting his suburban Detroit plumbing company In fight against blight, Detroit cracks down on business owners who illegally post signs DETROIT -- William Shaw has a message for other business owners advertising their services on illegally posted signs in Detroit: “Don't put them up. They will come after you and your company, and they will make you pay for it.” As part of court-ordered community service for posting hundreds of signs promoting his suburban Detroit plumbing company, Shaw is required to remove similar placards in the city. “They’re not going to back down," Shaw said of Detroit blight enforcement officials as he yanked signs Friday morning from utility and other poles on the city's northwest side. Many Detroit street corners and city neighborhoods are plastered with signs offering things like lawn services, event rentals, cash for homes — and even inexpensive health care. Mayor Mike Duggan’s administration has been aggressive in removing blight. Over the past decade, as the city emerged from the largest municipal bankruptcy in U.S. history, about 25,000 vacant or abandoned structures have been demolished. The city says it also has cleared about 90,000 tons of trash and illegally dumped debris from alleys over the past four years. The city said that from February 2022 to July 2023, it removed more than 615 “Shaw's Plumbing” signs. William Shaw has been cited with more than 50 misdemeanors because of it. A judge ordered Shaw to serve 40 hours of community service with the city's Blight Remediation Division. Part of that includes removing signs illegally posted by others. Shaw said Friday he has paid thousands of dollars in fines, but noted that “business is booming" at his shop in Melvindale, southwest of Detroit. “I was putting up signs in the city of Detroit to promote business illegally, not knowing that I was doing that,” he told The Associated Press. "We put up a lot to promote business. We did it elsewhere in other surrounding cities, as well. And we paid fines in other surrounding cities, as well as Detroit.” Gail Tubbs, president of the O’Hair Park Community Association, pressed the city to do something about the number of “Shaw's Plumbing” signs. She calls illegally posted signs nuisances. “We just don't want it,” Tubbs said Friday as Shaw took down signs in her neighborhood. “We do not need any more visual pollution and blight in our community. Don’t want it. Don’t need it.” Shaw said he is being made an example. Others will follow, according to the city. “Mr. Shaw is just the first. We have a list of the top 10, top 20 violators,” said Katrina Crawley, Blight Remediation assistant director. “This is just the first of many.” “Quality of life is an issue for all of our residents,” Crawley added, “and having nuisance signs plastered on poles where they're not supposed to be ... is something that we want to deliver a message to the business owners. You must stop. There are legal ways to advertise your business.”
Warren Buffett donates again to the Gates Foundation but will cut the charity off after his death None - Warren Buffett donates again to the Gates Foundation but will cut the charity off after his death OMAHA, Neb. -- Investor Warren Buffett announced another $5.3 billion in charitable gifts Friday, but in a major shift of his longtime giving plan he said he plans to cut off donations to the Bill & Melinda Gates Foundation after his death and let his three children decide how to distribute the rest of his $128 billion fortune. Buffett laid out his new plan for his estate in an interview with the Wall Street Journal. The 93-year-old billionaire who leads Berkshire Hathaway didn't immediately respond to questions from The Associated Press on Friday about his plan that calls for Howard, Susie and Peter Buffett to unanimously agree where to give his Berkshire Hathaway stock after his death. Buffett has given about $55 billion worth of Berkshire stock to five foundations since he outlined his giving plan in 2006, with the biggest share by far going to the Gates Foundation. The other four foundations are affiliated with his family, including the ones each of his children run. “The Gates Foundation has no money coming after my death,” said Buffett, who left the Gates Foundation's board in 2021 after Bill Gates, one of his best friends, announced he and Melinda French Gates were divorcing. French Gates left the Gates Foundation earlier this year. In his initial pledge to the Gates Foundation in 2006, Buffett wrote that he planned to include the foundation in his will. “I will soon write a new will that will provide for a continuance of this commitment — by distribution of the remaining earmarked shares or in some other manner — after my death,” he wrote then, referring to the annual gifts of Berkshire Hathaway stock that he was pledging. But Buffett said in a statement Friday that his original pledges are only good until his death. Buffett will leave it up to his kids to decide what to do with his Berkshire stock, much like he does now when he lets the foundations decide how to use his gifts. He said they already know the goal of his giving. “It should be used to help the people that haven’t been as lucky as we have been,” Buffett told the Journal. “There’s eight billion people in the world, and me and my kids, we’ve been in the luckiest 100th of 1% or something. There’s lots of ways to help people.” Mark Suzman, CEO of the Gates Foundation, said in a statement that he appreciates Buffett's generosity over the years. “Warren Buffett has been exceedingly generous to the Gates Foundation through more than 18 years of contributions and advice," Suzman said. "He has played an invaluable role in championing and shaping the foundation’s work to create a world where every person can live a healthy, productive life. We are deeply grateful for his most recent gift and contributions totaling approximately $43 billion to our work.” The value of Buffett’s donations have grown with the steady rise in price of Berkshire’s stock, so the stock he has given away to date is already worth more than his entire fortune of $43 billion when he announced his plan. The conglomerate’s most widely traded Class B shares are up about 22% in the just past 12 months. “Nothing extraordinary has occurred at Berkshire; a very long runway, simple but generally sound capital deployment, the American tailwind and compounding effects produced my current wealth,” Buffett said in a statement. “My will provides that more than 99% of my estate is destined for philanthropic usage.” Buffett's own Susan Thompson Buffett Foundation has been a major supporter of abortion rights over the years, but he has let his children and the Gates Foundation make their own decisions about how to distribute his gifts. Howard Buffett has given more than $500 million to help Ukraine since Russia invaded as part of his focus on helping war-torn regions. Buffett also occasionally makes other gifts to unnamed charities but he hasn't ever disclosed the details of those gifts. Buffett will still own 207,963 Class A Berkshire shares and 2,586 Class B shares after giving away a little over 13 million Class B shares Friday. Because of the voting power of the Class A shares, Buffett continues to have the biggest say by far in the operations of the massive conglomerate based in Omaha, Nebraska that he leads as chairman and CEO. He hasn't bought or sold any Berkshire shares in the past 18 years. Buffett has said that one of his vice chairman, Greg Abel, who already oversees all of Berkshire's non-insurance businesses, will take over as CEO after he is gone. Berkshire owns an eclectic assortment of manufacturing, retail and service businesses including BNSF railroad, several large utilities, Dairy Queen and Precision Castparts. Insurance companies, including Geico and General Reinsurance, are also a core part of Berkshire, and the company owns a huge stock portfolio dominated by iconic companies like Apple, Coca-Cola, American Express and Bank of America. Buffett's son Howard, who already serves on Berkshire's board, is slated to become chairman after his father's death, but Buffett's children won't play an active role in the day-to-day operations of the company. ___ Associated Press writer Thalia Beaty contributed to this report from New York. ___ For more AP coverage of Warren Buffett look here: https://apnews.com/hub/warren-buffett. For Berkshire Hathaway news, see here: https://apnews.com/hub/berkshire-hathaway-inc. Follow Josh Funk online at https://apnews.com/author/josh-funk,https://www.twitter.com/funkwrite and https://www.linkedin.com/in/funkwrite.
Tesla Stock Surges as Q2 Deliveries Beat Estimates None - Key Takeaways Tesla shares jumped Tuesday after the electric vehicle maker reported second-quarter production and delivery numbers. The roughly 444,000 vehicles Tesla delivered were below last year's mark, but still better than analysts expected. Tesla stock ended the second quarter on a positive note, as the EV maker looks to reverse the losses it suffered in the first half of 2024. Tesla (TSLA) shares surged Tuesday to their highest levels since Janurary following the release of second-quarter production and delivery numbers that surpassed analysts' expectations. The electric vehicle giant said it delivered 443,956 vehicles in the second quarter and produced 410,831 vehicles. While the deliveries figure was down 5% compared with the second quarter of 2023, it came in ahead of analysts' consensus of about 439,000. Telsa was the biggest gainer on the S&P 500 for the second consecutive day Tuesday, with shares up 9.0% at $228.71 in mid-afternoon trading. TradingView Earnings and Robotaxi Event Coming Up After a mostly rough first half of 2024, Tesla stock started to turn around last week amid optimism for its quarterly numbers, and rose again Monday amid positive delivery figures for several of Tesla's Chinese rivals. Despite the recent gains, the stock is still down 8% since the start of the year. Wedbush analysts wrote in a note immediately following the deliveries release that they believe "the worst is in the rear view mirror for Tesla." They also wrote that the second-quarter data should get investors excited for next month's scheduled "robotaxi" event, where Tesla is set to debut its fully autonomous taxi to compete with others in the industry such as Alphabet's (GOOGL) Waymo. "We continue to believe that Tesla is more of an AI and robotics play than a traditional car company," Wedbush analysts wrote. "Now the rubber meets the road as the Street anticipates August 8th as a key linchpin day for the Tesla story." Tesla also announced Tuesday that it will release its second-quarter financial results after the bell on July 23. UPDATE: This article has been updated with recent share price information, context and a share price chart.
Judge delays Trump's hush money trial sentencing to September None - The judge overseeing former President Trump's New York hush money trial has postponed the sentencing date to September after his lawyers asked for time to review the potential impact of the Supreme Court's presidential immunity decision.July 2, 2024
Hunter Biden has joined White House meetings following the first debate None - Hunter Biden has joined White House meetings with President Biden and his aides after returning from a family trip to Camp David. NBC News' Monica Alba has details on the Biden administration's reactions and how Hunter has encouraged the president to stay in the race against former President Trump.July 2, 2024
How major US stock indexes fared Tuesday, 7/2/2024 None - A big gain for Tesla helped drive Wall Street to more records How major US stock indexes fared Tuesday, 7/2/2024 The Associated Press By The Associated Press A big gain for Tesla helped drive Wall Street to more records. The S & P 500 rose 0.6% to top its all-time high set two weeks ago. The Dow Jones Industrial Average added 0.4%, and the Nasdaq composite climbed 0.8% from its own record set a day earlier. Tesla led the way after the electric-vehicle maker reported better sales for the spring than analysts expected. Treasury yields eased after the head of the Federal Reserve cited encouraging progress on inflation, which bolstered hopes for cuts to interest rates later this year. Crude oil’s price eased after touching its highest level since April. On Tuesday: The S & P 500 rose 33.92 points, or 0.6%, to 5,509.01. The Dow Jones Industrial Average rose 162.33 points, or 0.4%, to 39,331.85. The Nasdaq composite rose 149.46 points, or 0.8%, to 18,028.76. The Russell 2000 index of smaller companies rose 3.81 points, or 0.2%, to 2,033.87. For the week: The S & P 500 is up 48.53 points, or 0.9%. The Dow is up 212.99 points, or 0.5%. The Nasdaq is up 296.16 points, or 1.7%. The Russell 2000 is down 13.82 points, or 0.7%. For the year: The S & P 500 is up 739.18 points, or 15.5%. The Dow is up 1,642.31 points, or 4.4%. The Nasdaq is up 3,017.41 points, or 20.1%. The Russell 2000 is up 6.80 points, or 0.3%.
Arkansas grocery store reopens in wake of mass shooting that left 4 dead None - An Arkansas grocery store where four people were killed in a mass shooting has reopened, and community leaders call it an important step in the community's healing process FORDYCE, Ark. -- The sounds that filled the Mad Butcher grocery store on Tuesday — the beeping barcode scanners, the rattle of shopping carts and cash register drawers opening — were familiar ones for customers and employees of the only grocery store in the small Arkansas town of Fordyce. But this was not a normal day for the store, which reopened 11 days after a shooter killed four people and injured 10 others in Mad Butcher and its parking lot. Community leaders called Tuesday's reopening an important part of the healing process for a town of 3,200 shocked by the mass shooting. “It's more than a store,” said Dallas County Sheriff Mike Knoedl, who had responded to the shooting and was on hand for the store's reopening. “It's a meeting place. Every time I'm in this store, I'm in it two or three times a week, you're talking to neighbors. Everybody knows everybody." The store's closure left Fordyce without a grocery store and few nearby alternatives in the aftermath of the shooting, prompting several food distribution sites to be set up throughout the community. Though the town has a Walmart and discount retailers with some food options, the closest grocery stores or supermarkets are located in neighboring cities at least half an hour away. “This is Fordyce,” said Dick Rinehart, a mechanic who went to the store Tuesday to buy ribs, bread and lunchmeat. “Without this grocery store, where would we go?” Employees and volunteers who were there for the reopening handed customers shirts that read #WeAreFordyceStrong. A banner with the same message has hung under the store's green awning since the shooting occurred. Memorials to the victims of the shooting, including flowers and crosses, sit near the store's parking lot. Kent J. Broughton, a pastor in Fordyce who was loading up his cart with watermelons, said the store's reopening restores a place for many in the community to connect with family or friends. “If you're bored and you need something to do, if you want to see somebody, just go to the grocery store,” Broughton said. “You're going to run into somebody you know, a friend or cousin or something, and you pick up from there.” Police have not given a motive for the shooting. Travis Eugene Posey, 44, pleaded not guilty last week to four counts of capital murder and ten counts of attempted capital murder and is being held in a neighboring county’s jail without bond. Posey was injured after a shootout with police officers who responded to the attack, authorities said. Police have said Posey was armed with a handgun and a shotgun, and multiple gunshot victims were found in the store and its parking lot. Authorities have said Posey did not appear to have a personal connection to any of the victims. The Mad Butcher reopened more quickly than two other grocery stores that have been the sites of mass shootings in recent years. A Buffalo, New York, grocery store reopened two months after a gunman killed 10 Black people in 2022. A Boulder, Colorado, supermarket where 10 were killed in 2021 reopened nearly a year later. The Fordyce store reopened the day after the last of four funerals for the victims, who ranged in age from 23 to 81. Mayor John MacNichol said he never would have imagined a mass shooting occurring in his close-knit town, but said he's been proud of the community's response. “I think we're doing OK. I ain't saying we're doing great,” MacNichol said. “But I think it's bringing the community closer together and uniting us.”
FTC unanimously moves to block Tempur Sealy's purchase of Mattress Firm None - The Federal Trade Commission has unanimously voted to bring a lawsuit against mattress maker Tempur Sealy to block its $4 billion acquisition of Mattress Firm, saying the deal would allow the world’s largest mattress supplier to suppress competition th... NEW YORK -- The Federal Trade Commission has unanimously voted to bring a lawsuit against mattress maker Tempur Sealy to block its $4 billion acquisition of Mattress Firm, saying the deal would allow the world's largest mattress supplier to suppress competition that would result in higher prices for shoppers. The deal was announced in May 2023. At the time, analysts had praised the acquisition and said it would allow Tempur Sealy to expand its distribution and reach more consumers at a crucial time for increasing sales. Acquiring Mattress Firm would also help Tempur Sealy buck the current slowdown in sales, caused by the cost-of-living crisis and many households having upgraded their mattresses during the pandemic, analysts said. Mattress Firm, Houston, operates more than 2,300 brick-and-mortar retail locations and an e-commerce platform. The combined companies would have a total of some 3,000 retail stores, 30 e-commerce platforms, 71 manufacturing facilities and four research and development facilities worldwide. But the FTC said Tuesday in its release that the acquisition would create “enormous power” at multiple parts of the mattress supply chain. By acquiring Mattress Firm, Tempur Sealy would wield significant power over its rival mattress suppliers, which include Serta Simmons Bedding and Purple Innovation Inc. and could cut or limit their access to Mattress Firm’s stores, the FTC alleged in the complaint. The deal would also enable Tempur Sealy’s mattress brands — which include Stearns & Foster and Tempur-Pedic — to dominate the market over those of its competitors, the FTC said. By cutting off rivals’ access to Mattress Firm as a retail channel, Tempur Sealy’s acquisition could result in higher mattress prices, decreased product quality and choice, or reduced innovation, FTC said. The FTC also alleged that the combined firm could also drive other rivals to bankruptcy. For example, it could limit present and future rivals’ access to Mattress Firm’s floor space, award sales workers higher commissions on Tempur Sealy products sold, or otherwise take steps meant to steer customers away from rivals' products and toward Tempur Sealy’s mattresses. In a statement posted on its corporate website, Tempur Sealy said it was “disappointed” that it initiated litigation and noted it has been working constructively with the FTC to secure regulatory approval for this transaction. “We ultimately believe the FTC’s perspective does not reflect all the relevant facts and law,” Tempur Sealy said. The Lexington, Kentucky-based mattress company noted that the bedding industry is highly competitive, offering consumers a diverse selection of products, brands, price points, and purchasing channels. It added that there are thousands of brick-and-mortar storefronts across the U.S. where consumers can purchase bedding products, only a small fraction of which are operated by Mattress Firm. In addition, brick-and-mortar retailers and direct-to-consumer bedding brands sell millions of bedding products online each year. ___ AP Business Writer Wyatte Grantham-Philips in New York contributed to this report.
Tesla, Archer Aviation rise; Eli Lilly falls, Tuesday, 7/2/2024 None - Stocks that traded heavily or had substantial price changes on Tuesday: Tesla, Archer Aviation rise; Eli Lilly falls The Associated Press By The Associated Press NEW YORK -- Stocks that traded heavily or had substantial price changes on Tuesday: Paramount Global, up 58 cents to $10.72. Digital-media conglomerate IAC is reportedly considering a bid to take control of the owner of CBS and Paramount Studio. Eli Lilly and Co., down $7.66 to $906.71. President Joe Biden called on pharmaceutical companies to lower diabetes and weight-loss drug prices. Tesla Inc., up $21.40 to $231.26. The electric vehicle maker's second-quarter deliveries beat analysts' forecasts. Archer Aviation Inc., up 30 cents to $3.72. The maker of electric vertical take-off and landing aircraft received a $55 million investment from Stellantis. Moderna Inc., up $1.12 to $117.07. The U.S. will pay the vaccine maker $176 million to develop an mRNA-based pandemic flu vaccine. Tyler Technologies Inc.. up $9.48 to $509. The software company signed an agreement with the Arizona Supreme Court for wider use of its technology. Southern Copper Corp., up $1.30 to $109.94. The copper producer rose along with prices for the base metal. MSC Industrial Direct Co., up $1.79 to $80.02. The distributor of industrial tools and supplies' delivered third-quarter earnings in line with its preannouncement.
Google falling short of important climate target, cites electricity needs of AI None - Google, which has an ambitious plan to address climate change with cleaner operations, came nowhere close to its goals last year, according to the company’s annual Environmental Report Tuesday Three years ago, Google set an ambitious plan to address climate change by going “net zero,” meaning it would release no more climate-changing gases into the air than it removes, by 2030. But a report from the company Tuesday shows it is nowhere near meeting that goal. Rather than declining, its emissions grew 13% in 2023 over the year before. Compared to its baseline year of 2019, emissions have soared 48%. Google cited artificial intelligence and the demand it puts on data centers, which require massive amounts of electricity, for last year’s growth. Making that electricity by burning coal or natural gas emits greenhouse gas emissions, including carbon dioxide and methane, which warm the planet, bringing more extreme weather. The company has one of the most significant climate commitments in industry and has been seen as a leader. Lisa Sachs, director of the Columbia Center on Sustainable Investment, said Google should be doing more to partner with cleaner companies and invest in the electrical grid. “The reality is that we are far behind what we could already be doing now with the technology that we have, with the resources that we have, in terms of advancing the transition,” she said. Google Chief Sustainability Officer Kate Brandt told The Associated Press, “Reaching this net zero goal by 2030, this is an extremely ambitious goal. “We know this is not going to be easy and that our approach will need to continue to evolve," Brandt added, "and it will require us to navigate a lot of uncertainty, including this uncertainty around the future of AI’s environmental impacts.” Some experts say the rapidly expanding data centers needed to power AI threaten the entire transition to clean electricity, an important part of addressing climate change. That's because a new data center can delay the closure of a power plant that burns fossil fuel or prompt a new one to be built. Data centers are not only energy-intensive, they require high voltage transmission lines and need significant amounts of water to stay cool. They are also noisy. They often are built where electricity is cheapest, not where renewables, such as wind and solar, are a key source of energy. Global data center and AI electricity demand could double by 2026, according to the International Energy Agency. Other major tech company sustainability plans are also challenged by the proliferation of data centers. They caused Microsoft's emissions to grow 29% above its 2020 baseline, the company said in an environmental sustainability report in May. Tech companies make the case that AI, including tools such as ChatGPT, is not only partially causing climate change, it's also helping to address it. In the case of Google, that could mean using data to predict future flooding, or making traffic flow more efficiently, to save gasoline. Amanda Smith, senior scientist at the climate nonprofit Project Drawdown, said those who use AI — both large companies and individuals just making memes — need to do so responsibly, meaning using the energy only when it benefits society. “It’s up to us as humans to watch what we’re doing with it and to question why we’re doing that,” Smith added. “When it’s worth it, we can make sure that those demands are going to be met by clean sources of power.” Google’s emissions grew last year in part because the company used more energy; 25,910 gigawatt-hours more, an increase from the year before and more than double the hours of energy consumed just four years earlier. A gigawatt-hour is roughly the energy that a power plant serving several hundred thousand households puts out in one hour. On the positive side, as Google’s consumption grows, so has its use of renewable power. The company said in 2020 it would meet its massive need for electricity using only clean energy every hour of every day by 2030, all over the world. Last year, Google says, it saw an average of 64% carbon-free energy for its data centers and offices around the globe. The company says its data centers are, on average, 1.8 times as energy efficient as others in the industry. Sachs, at Columbia University, credited Google for its ambition and honesty, but said she hopes “that Google would join us in a more rigorous conversation about how to accelerate" clean energy amid the climate crisis, "so that it doesn’t get much worse before it starts getting better.” ___ Alexa St. John is an Associated Press climate solutions reporter. Follow her on X, formerly Twitter, @alexa_stjohn. Reach her at ast.john@ap.org. ___ The Associated Press’ climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.
French candidates make hurried deals to try to stop far-right National Rally from leading government None - French opposition parties are making hurried deals to try to block a landslide victory for Marine Le Pen’s far-right National Rally in Sunday’s second round of legislative elections PARIS -- French opposition parties made hurried deals Tuesday to try to block a landslide victory for Marine Le Pen's far-right National Rally in Sunday's second round of legislative elections, as she said her party would lead the government only if it wins an absolute majority — or close to it. The National Rally, under party president Jordan Bardella, secured the most votes in the first round of the early legislative elections on June 30 but not enough to claim an overall victory that would allow the formation of France’s first far-right government since World War II. “We cannot accept going into government if we cannot act," Le Pen said in an interview with public broadcaster France Inter. “It would be the worst betrayal of our voters.” However, “if we have, say, 270 lawmakers, we need 19 more, we will go to others and ask them if they are ready to participate with us in a new majority." Round one propelled the National Rally closer than ever to government but left open the possibility that voters could block its path to power on Sunday. An unprecedented number of candidates who qualified for round two from the left-wing alliance of the New Popular Front and from President Emmanuel Macron’s weakened centrists have stepped aside to favor the candidate most likely to win against a National Rally opponent. Several Cabinet ministers were among those who abandoned the race. According to a count by French newspaper Le Monde, some 218 candidates supposed to compete in the second round have pulled out. Of those, 130 were on the left and 82 came from the Macron-led centrist alliance Ensemble, it counted. Candidates had until 6 p.m. local time to withdraw. The interior ministry was not immediately available to respond to a request to confirm those numbers. “We have one objective today, to deny an absolute majority to the National Rally,” said François Ruffin of the hard-left France Unbowed party that is part of the New Popular Front alliance along with French greens, Socialists and Communists. On the campaign trail, Prime Minister Gabriel Attal appeared at a food market where he made a toast "to victory.” “I need to prevent the National Rally from achieving an absolute majority in the National Assembly because it would be — and I say it from the bottom of my gut — it would be terrible for the country and the French,” Attal said. Macron dissolved the National Assembly and called the snap election on June 9 after a stinging defeat at the hands of the National Rally in French voting for the European Parliament. The unpopular president gambled that the far right would not repeat that success when France's own fate was in the balance. But Macron’s plan backfired. He is now accused, even by members of his own camp, of opening a door for the National Rally by calling voters back to the ballot box, especially when so many are angry over inflation, the cost of living, immigration and at Macron himself. The far right tapped into that frustration and the sense that many French families are being left behind by globalization. Le Pen’s party campaigned on a platform that promised to raise consumer spending power, slash immigration and take a tougher line on European Union rules. The National Rally's opponents fear for civil liberties if the party, which has a history of racism, xenophobia, antisemitism and hostility to France's Muslims, takes power. It plans to boost police powers and curtail the rights of French citizens with dual nationality to work in some defense, security and nuclear-industry jobs. Macron himself warned that the far right could set France on a path to civil war. Le Pen on Tuesday also spoke of a potential ban on the Muslim headscarf. She said she is still in favor of banning the headscarf in public but that the official decision warrants “presidential authority.” “There are a number of issues regarding Islamist ideologies and the headscarf is only one of them,” she said. ___ Surk reported from Nice, France. Helena Alves in Paris contributed. ___ Follow AP's coverage of elections at https://apnews.com/hub/global-elections
From fireworks to food, here's how to save on Fourth of July expenses None - From fireworks to food, here's how to save on Fourth of July expenses According to the National Retail Federation, Americans are expected to spend $9.4 billion on food this Independence Day, with each consumer spending about $90. Here are a few tips to save money.
'Need a better choice' to energize voters: Rep. Doggett on why he's calling for Biden to drop out None - 'Need a better choice' to energize voters: Rep. Doggett on why he's calling for Biden to drop out Rep. Lloyd Doggett (D-Texas) is the first sitting Democrat in Congress to call for President Biden to withdraw from the 2024 election. He joins Ali Vitali to discuss his reasoning and his outlook for the 2024 presidential election.July 3, 2024
Biden speaks with Schumer, Pelosi and Clyburn after debate fallout None - ‘He’s staying in this race’: Biden advisor slams calls for him to drop out
Amazon hits a stock market valuation of $2 trillion for the first time None - Amazon hits a stock market valuation of $2 trillion for the first time Amazon hits a stock market valuation of $2 trillion for the first time
The best concerts of 2024 so far: AP’s picks include Olivia Rodrigo, Bad Bunny, George Strait, SZA None - As The Associated Press’ music writer, Maria Sherman has seen more than 40 concerts during the first half of 2024 The best concerts of 2024 so far: AP’s picks include Olivia Rodrigo, Bad Bunny, George Strait, SZA As The Associated Press' music writer, Maria Sherman has seen more than 40 concerts during the first half of 2024. Here are some picks for the best shows ... so far, excluding any one-off performances that cannot be repeated, and where you too can catch these artists. March 14, Los Angeles' Crypto.com Arena Bad Bunny’s show begins with a symphony, transitioning into the unmistakable strings of his monster hit, “Monaco.” “The Most Wanted Tour” highlights El Conejo Malo’s fifth solo album “Nadie Sabe Lo Que Va a Pasar Mañana” (“Nobody Knows What Will Happen Tomorrow”) and his past reggaetón hits, too. HIGHLIGHT: There is one moment that can only be described as equine. OPENER: When you’re one of the biggest artists on the planet, do you really need an opener? Bad Bunny didn't. SEE IT YOURSELF: This particular run of shows has come to an end, but here's a reminder to catch him next time he's in town. April 5, New York's Madison Square Garden Rodrigo’s spirited punky-pop warms an arena, as does her irreverent charms and Disney-informed dancing. If women performing their rage has fallen out of vogue, Rodrigo has brought it back, full force. HIGHLIGHT: For the fans of her big-hearted ballads — in one moment, she’s lifted into the air and circles the arena in a purple crescent moon to slow things down. OPENER: The Breeders — fronted by the Pixies’ Kim Deal — legends of ’90s college radio and indie rock. There’s something completist about hearing an arena discover “Cannonball” for the first time, a song that no doubt inspired Rodrigo’s music. SEE IT YOURSELF: Rodrigo heads back to the U.S. this month with a new opener, the U.K. hyperpop producer PinkPantheress, before the Breeders return for two final nights in Los Angeles. April 11, New York's Knockdown Center Every generation gets the Crystal Castles it deserves. Or in less niche language: This Berlin duo brings humor to their music, which veers from hyperactive techno to German Neue Deutsche Welle in their acquired-taste electronica. The shows are sweaty, and no matter your age, you will be the oldest person in attendance. HIGHLIGHT: The duo samples Dido’s soft-pop hit “White Flag,” while waving a white flag. It works. OPENER: The techno-punk LustSickPuppy, whose abrasive rave music is presented as a kind of nightmarish clown show. SEE IT YOURSELF: Brutalismus will be hitting a few festivals in Europe this summer and fall. May 1, New York's Barclays Center She will run on club time, and she will not disappoint. Nicki Minaj’s “Pink Friday 2” is almost a retrospective of her chart-toppers, shifting alter-egos with incredible ease. HIGHLIGHT: At this particular show, Minaj brought out Cyndi Lauper to duet “Girls Just Wanna Have Fun” after 1 a.m. OPENER: Monica has joined Minaj for this tour, and in Brooklyn, Pepa of Salt-N-Pepa opened the show. SEE IT YOURSELF: Minaj is hitting the European festival circuit this summer, then heading back to the U.S. in September. May 6, New York's Brooklyn Paramount Canadian pop-punk band Sum 41 has called it quits — and they’re going out in a blaze of glory, a farewell tour that has the immediacy of their youth. HIGHLIGHT: Sum 41 does not want to exit quietly — they prove their endurance with an explosive set, fireworks and mosh pits and all. There’s also a giant, blow-up skull. OPENER: The Interrupters, a ska-punk band that revitalized the genre, are worth arriving early for. At future dates, Sum 41 will be joined by Gob, Pup, Neck Deep and the Bronx. SEE IT YOURSELF: Sum 41 is zigzagging across Europe and North America through early 2025. May 21, Madison Square Garden Not every artist can sell out Madison Square Garden on her first tour, but Megan Thee Stallion is not every artist. On her stage, Megan is an athlete and a dancer who delivers her fierce bars with an incredible crispness. HIGHLIGHT: “WAP” is a can’t miss moment, of course — particularly if Cardi B makes a surprise appearance, like she did at MSG. OPENER: Tennessee rapper GloRilla, who was most recently featured on the great, braggy “Accent” from the headliner's third album, “Megan.” SEE IT YOURSELF: Europe will get to catch her in July, before she heads back home for a few festivals. May 23, East Rutherford, New Jersey's MetLife Stadium The Rolling Stones ran through 60 years of hits across two hours, including cuts from their first album of new material in nearly two decades, “Hackney Diamonds.” HIGHLIGHT: When it comes to The Rolling Stones, the entire show is the highlight — but for this audience, it was likely the rollicking rendition of “Wild Horses.” OPENER: The soulful Jon Batiste, an award-show staple for a reason. SEE IT YOURSELF: The Stones' North American tour continues through July. June 8, MetLife Stadium They call him the King of Country for a reason. Live, George Strait can transform his one-off stadium shows into a honky-tonk; he performs with a big band and a lot of heart. HIGHLIGHT: The closest a person can get to levitation is singing along to “Amarillo by Morning” in a stadium of tens of thousands. OPENER: Chris Stapleton and Little Big Town, with Stapleton joining Strait for a new song called “Honky Tonk Hall of Fame.” SEE IT YOURSELF: Strait has a two more stadium dates in July — in Detroit and Chicago — and another in December, in Las Vegas. June 7-9, New York's Flushing Meadows Corona Park Summer festivals across the United States tend to have similar lineups. Governors Ball, arriving early in the season, sets the tone. HIGHLIGHT: Now is the time to run, don’t walk, to see Chappell Roan. And learn the “Hot to Go” dance. OPENER: Sexyy Red’s frisky rap is hard to deny. SEE IT YOURSELF: Many of these artists will be hitting festivals in North American and Europe this summer. In fact, if you want to catch SZA, Sexyy Red and Chappell Roan in one go, consider Lollapalooza in August. Pluma is currently on his “Éxodo Tour” across North America, running through October. Feb. 18, Melbourne, Australia's Northcote Social Club In the search for thrilling, cathartic underground music — particularly of the indie variety — look no further than the rich scene of Melbourne, Australia. CLAMM, the punk trio, brings a controlled aggression to their live show. It is ferocious noise punk that hits like inhaling hand sanitizer — stinging alert their audience with clever agitation. HIGHLIGHT: Later this month, CLAMM will release a new record, “Disembodiment.” Live, they’ve begun performing the chant-along opening cut, “Change Enough.” OPENER: At this particular show, the Aussie indie band Scott and Charlene’s Wedding and the rapper Mulalo. A genre-diverse club show is a life-affirming club show. SEE IT YOURSELF: CLAMM are headed to Europe for a series of dates this July, and back to Australia in August.
US filings for jobless claims inch up modestly, but continuing claims rise for ninth straight week None - The number of Americans filing for unemployment benefits inched up last week, but remain at historically healthy levels despite elevated interest rates US filings for jobless claims inch up modestly, but continuing claims rise for ninth straight week WASHINGTON -- The number of Americans filing for unemployment benefits inched up last week and remain historically low, however the total number of people collecting jobless benefits continues to grow. The Labor Department reported Wednesday that jobless claims for the week ending June 29 rose by 4,000 to 238,000 from 234,000 the previous week. The data was issued one day earlier than its regular Thursday release due to the July Fourth holiday. The total number of Americans collecting unemployment benefits rose for the ninth straight week, to 1.86 million, for the week of June 22. That’s the most since November of 2021. Economists say that while the number of new people applying for jobless aid each week remains relatively modest, some who are receiving benefits are finding it harder to land new jobs. That suggests that demand for workers is waning, even as the economy remains strong. That, combined with recent data showing that inflation continues to ease, could point to the so-called “soft-landing” the Federal Reserve was aiming for when it began its rate-hiking campaign. The Federal Reserve raised its benchmark borrowing rate 11 times beginning in March of 2022 in an attempt to extinguish the four-decade high inflation that shook the economy after it rebounded from the COVID-19 recession of 2020. The Fed’s intention was to cool off a red-hot labor market and slow wage growth, which can fuel inflation. Many economists had expected the rapid rate hikes would trigger a recession, but so far that hasn’t happened, thanks in large part to strong consumer demand and a sturdier-than-expected labor market. “The data bear watching for signals about a more material weakening in the labor market going forward, which will have implications for Fed policy,” said Rubeela Farooqi, chief U.S. economist at High Frequency Economics. The Fed’s next policy meeting comes at the end of this month, but few experts are expecting a rate cut then. However, investors are betting that there is nearly a 70% chance for a reduction at the Fed’s September meeting. The Fed will release the minutes from its most recent interest rate policy meeting Wednesday afternoon and there may be more hints as to how Fed officials feel about the state of the U.S. economy, and what they may be thinking about current interest rates. While the labor market remains sturdy, recent government data suggest some softness taking hold. The four-week average of claims, which evens out some of the week-to-week volatility, also continued to climb, rising by 2,250 to 238,500. Applications for jobless benefits are trending higher in June after mostly staying below 220,000 this year. The unemployment rate ticked up to 4% in May, despite the fact that America’s employers added a strong 272,000 jobs last month. Job postings in May rose slightly to 8.1 million, however, April’s figure was revised lower to 7.9 million, the first reading below 8 million since February 2021. The government issues its June jobs report on Friday. Analysts are forecasting that U.S. employers added 190,000 jobs last month, a healthy figure but down from May. Weekly unemployment claims are widely considered as representative of layoffs.
Southwest Air adopts 'poison pill' as activist investor Elliott takes significant stake in company None - Southwest Airlines has adopted a ‘poison pill’ following activist investor Elliott Investment Management taking a significant stake in the company. The airline said Wednesday that the shareholder rights plan is effective immediately and expires in a year. Southwest shareholders would need to give prior approval for an extension. Shareholder rights plans, or “poison pills,” allow existing shareholders to acquire shares at a discounted rate to discourage a takeover by an outside entity. Southwest's plan is triggered when a shareholder acquires 12.5% or more of its common stock, which would let all other shareholders buy stock at a 50% discount. Southwest said that it adopted the rights plans due to several concerns, including Elliott's approximately 11% stake in the company and the flexibility that the firm has to acquire a significantly greater percentage of Southwest's voting power across two of its funds starting as early as July 11. “In light of the potential for Elliott to significantly increase its position in Southwest Airlines, the board determined that adopting the rights plan is prudent to fulfill its fiduciary duties to all shareholders," Southwest Chairman Gary Kelly said in a statement. “Southwest Airlines has made a good faith effort to engage constructively with Elliott Investment Management since its initial investment and remains open to any ideas for lasting value creation.” Last month it was disclosed that Elliott bought a $1.9 billion stake in Southwest and was looking to force out the CEO of the airline, which has struggled with operational and financial problems. Elliott, in a letter to Southwest's board, then said that Southwest’s stock price has dropped more than 50% in the last three years. The firm also criticized the airline, saying it has failed to evolve, hurting its ability to compete with other carriers. Elliott blamed the Dallas-based company's massive flight cancellations in December 2022 on what it described as the airline’s outdated software and operational processes. Elliott is looking for executives from outside the company to replace CEO Robert Jordan and Kelly, and for “significant” changes on the board, including new independent directors with experience at other airlines. Southwest has said that it remains confident in Jordan and its management and their ability to drive long-term value for shareholders. For his part, Jordan has said that he won't resign and that in September his leadership team will present a plan to boost the airline's financial performance. In midday trading, Southwest shares added 11 cents to $28.41. Shares of the company are down about 21% in the past year, while the benchmark S & P 500 index is up roughly 25% over the same time.