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Kamala Harris says Biden stepping down is a 'selfless and patriotic act' and asserts her intention to win the Democratic nomination 2024-07-21 20:57:45+00:00 - President Joe Biden exited the 2024 race on Sunday and endorsed Kamala Harris. Harris praised Biden's decision to step down and declared her intention to win the nomination. Harris said she aims to unite Democrats to defeat former President Donald Trump. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement Vice President Kamala Harris said she's stepping up to the plate after President Joe Biden bowed out of the 2024 race on Sunday. In a statement issued Sunday, Harris called Biden's stepping down a "selfless and patriotic act" and thanked Biden for serving as president. She also indicated that she intends to win the Democratic nomination. "I am honored to have the president's endorsement, and my intention is to earn and win this nomination," she wrote. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .
Kamala Harris says she intends to ‘win this nomination’ after Biden drops out 2024-07-21 20:55:52+00:00 - Vice President Kamala Harris said Sunday that she intends to “earn and win” the Democratic presidential nomination after President Joe Biden announced he’s dropping out of the 2024 race and endorsing her in his place. “On behalf of the American people, I thank Joe Biden for his extraordinary leadership as President of the United States and for his decades of service to our country,” she said. “His remarkable legacy of accomplishment is unmatched in modern American history, surpassing the legacy of many Presidents who have served two terms in office. The statement continued: With this selfless and patriotic act, President Biden is doing what he has done throughout his life of service: putting the American people and our country above everything else. I am honored to have the President’s endorsement and my intention is to earn and win this nomination. Over the past year, I have traveled across the country, talking with Americans about the clear choice in this momentous election. And that is what I will continue to do in the days and weeks ahead. I will do everything in my power to unite the Democratic Party—and unite our nation—to defeat Donald Trump and his extreme Project 2025 agenda. Harris concluded by noting there are 107 days until Election Day. “Together, we will fight,” she said. “And together, we will win.” Harris, a former California senator, received an outpouring of support from many top Democrats on Sunday. Before serving in the Senate from 2017 to 2021, Harris was California’s attorney general for six years. She sought the 2016 Democratic presidential nomination but dropped out before the primary elections. Harris’ vice presidency is historic in several ways: She is the first woman to hold the role, as well as the first Black person and Indian American to do so. This is a developing story. Check back for updates.
Judge Rejects Bid to Dismiss Trump Libel Suit Against Pulitzer Board 2024-07-21 20:50:09.769000+00:00 - A state judge in Florida has given former President Donald J. Trump a legal victory, refusing to toss a libel lawsuit filed by Mr. Trump over a statement made by the board of the Pulitzer Prizes on coverage of the 2016 Trump campaign’s connections to Russia. The ruling on Saturday by Robert Pegg, a senior judge on a circuit court in Florida, means that Mr. Trump’s case will proceed, opening the door to a discovery phase that may allow Mr. Trump’s lawyers to question Pulitzer officials, who issue the most prestigious prizes in journalism. The case hinges on a statement made in 2022 by the panel reaffirming its decision to award the national reporting prize in 2018 to The New York Times and The Washington Post for their coverage of Russian interference in the 2016 U.S. presidential election and Russian ties to the Trump campaign. After the prize was awarded, a special counsel, Robert S. Mueller III, investigating the Russian interference allegations, said he could find no evidence that Mr. Trump or his aides had coordinated with the interference effort. Mr. Trump and others who disputed the reporting had urged the Pulitzer Prize Board to revoke the award, but in its 2022 statement, the Pulitzer Prize board said two independent reviews had found nothing to discredit the articles. The reviews found that “no passages or headlines, contentions or assertions in any of the winning submissions were discredited by facts that emerged subsequent to the conferral of the prizes,” the board said in the statement.
Judge halts $500 monthly basic income payments for low-income St. Louis families after conservative challenge 2024-07-21 20:47:53+00:00 - A judge halted a St. Louis basic income program after a lawsuit called it unconstitutional. The city planned about $220,000 in payments before it was blocked. Missouri Mayor Tishaura Jones says the city will continue exploring legal options. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement A basic income program designed to help the poorest residents in St. Louis will have to hold off on payments after a judge sided with conservatives who called the program "unconstitutional" in a lawsuit. Two residents — Greg Tumlin and Frank Hale — filed the lawsuit against the city in June, challenging a program that would have given 540 low-income families payments of $500 a month. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .
A Harris Economy Could Prove More Progressive Than ‘Bidenomics’ 2024-07-21 20:43:56+00:00 - At the first Democratic presidential debate in 2019, Kamala Harris, then a senator from California, unleashed a scathing critique of the Trump economy. The future vice president billed President Donald J. Trump’s tax cuts as a giveaway to the rich, argued that the booming stock market was leaving the middle class behind and warned that his reckless trade agenda was hurting farmers in the heartland. “Frankly, this economy is not working for working people,” Ms. Harris said. “For too long the rules have been written in the favor of the people who have the most and not in favor of the people who work the most.” As Ms. Harris prepares to potentially replace President Biden atop the Democratic ticket, she now faces the challenge of articulating her own vision for steering a U.S. economy that is still grappling with inflation while drawing sharp distinctions with Mr. Trump, who has promised more tax cuts and tariffs.
Biden’s exit from 2024 race is what Donald Trump feared 2024-07-21 20:39:13+00:00 - Through the weekend, there were an awful lot of questions that were going back and forth from people in the president’s tightest circle, and one of the questions that kept being asked was whether Joe Biden was going to endorse Kamala Harris or not. And the question didn’t revolve around whether he wanted to or not, but whether people in her camp thought it would be better for her to fight for it, win it on her own, and not be seen as somebody who was tapped by President Biden and so, in her own way, have a fresh start going into the campaign. So the timing seems to be about as good as it could have been to end what has just been one of the craziest two or three weeks in American politics in quite some time. So when I heard that he did come out and endorse Kamala Harris, I think a lot of Democrats that were going back and forth this weekend on this issue felt an awful lot of relief, because Democrats obviously believe Biden did a great job — he has a great record, along with Kamala Harris. And as he said, it’s absolutely necessary for the Democratic Party, if they want to defeat Donald Trump, to unite as one. And so his statement seems to hit all the right notes and comes at a good time. There was a fear that this might drag on another week or two — and in that case, you would have massive Democratic defections every day. So the timing seems to be about as good as it could have been to end what has just been one of the craziest two or three weeks in American politics in quite some time. The morning after the debate, I got on and said that the president needed to ask whether he was capable of doing this and take a little bit of time to figure it out. I think he took a little more time than I was expecting. But after saying that, I heard from people that were extraordinarily close to him, people who work for him, actually calling me up and saying, “President Biden needs space. If Democrats and people in the media say the sort of things that you said today and he’s not given that space, he’s going to be far more likely to get into a corner and stay in the race.” So I think so much of what Biden’s inner circle did over the last couple of weeks was to provide him that space. And it’s what Nancy Pelosi was trying to do — it’s why you didn’t see massive defections of 10, 20, 30, 40, 50 people a day, even though it was starting to get bad. I think the whole idea was give him the space to make this decision. He made the decision. And I will say, the most telling thing about how positive this may be for the Democratic Party is the Republican response. And I will say, the most telling thing about how positive this may be for the Democratic Party is the Republican response. Earlier this morning, Newt Gingrich was was going on Twitter talking about how this is a violation of democracy, how it’s shocking and stunning that they’re delegitimizing the votes of 14.5 million Democrats. You also have House Speaker Mike Johnson going around saying that he’s going to do everything he can to try to nullify this, despite the fact Democrats haven’t even had their convention yet. So he’s standing on no ground at all. I’ve also had a good bit of reporting from deep inside the Trump camp that this is the one thing that Donald Trump feared. He has always considered himself to be the ultimate disrupter. And for the first time — not just in his political life, but the first time in his media life, in his professional life — the disruption is on the other side. People are not having to respond to the shocking turn of events from him for once. Trump and his campaign team are going to have to respond to this shocking turn of events — and they’re not happy about it at all. And I think that’s why you’re seeing a lot of Trump’s acolytes in politics and the media coming out and bitterly complaining about this. These comments from Sunday’s MSNBC coverage have been slightly edited for length and clarity.
Republicans call on Biden to resign after president announces he won't seek reelection 2024-07-21 20:32:00+00:00 - U.S. President Joe Biden looks on at the 115th NAACP National Convention in Las Vegas, Nevada, U.S., July 16, 2024. Republican lawmakers are calling on President Joe Biden to resign after he announced Sunday that he will no longer seek reelection. "If Joe Biden is not fit to run for President, he is not fit to serve as President," Speaker of the House Mike Johnson said in a post on X after Biden announced his decision. "He must resign the office immediately." Other congressional Republicans, including House Republican Conference Chair Rep. Elise Stefanik and the National Republican Senatorial Committee, echoed Johnson's message. "Biden is a national security threat in great cognitive decline and a clear and present danger to every man, woman, and child in our country," former President Donald Trump's campaign said in a statement. "The question then to [Vice President] Kamala Harris is simple: knowing that Joe Biden withdrew from the campaign because of his rapidly deteriorating condition, does Harris believe the people of America are safe and secure with Joe Biden in the White House for six more months," Trump's campaign said. Some Republican lawmakers have even raised the prospect of invoking the 25th Amendment, which dictates the order of succession if a president is no longer able to perform the duties of the office. Rep. Nancy Mace, R-S.C., said in a post on X that she planned to introduce a resolution on Monday urging Harris to invoke the 25th Amendment. With just days left in Trump's term in office, the Democrat-controlled House of Representatives in 2021 passed a measure calling on then-Vice President Mike Pence and Trump's Cabinet to invoke the 25th Amendment. Pence refused to do so. Biden, 81, has faced calls to drop out of the presidential race ever since his poor debate performance in June, where his verbal stumbles and hoarse voice elevated concerns about his age. But the president did not cite those concerns nor his age in his announcement, and he made clear he will serve the 6-month remainder of his term in office. "I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as President for the remainder of my term," Biden wrote in the letter posted to X. After Biden's annual physical in February, White House physician Dr. Kevin O'Connor said that the president "is a healthy, active, robust 81-year-old male, who remains fit to successfully execute the duties of the Presidency." Biden was also briefly seen by a doctor following the June 27 debate, he told Democratic governors the following week, and was told his health was fine. The president is currently isolating in Delaware after testing positive for Covid-19 on Wednesday. O'Connor said on Sunday that Biden's symptoms have improved "significantly." "The President continues to tolerate treatment without any difficulty and will continue PAXLOVID as planned," O'Connor wrote in the latest update. "He continues to perform all of his presidential duties." Republicans' calls for Biden to resign began even before the president announced he would no longer seek reelection. "If Joe Biden ends his reelection campaign, how can he justify remaining President?," Sen. JD Vance, Trump's running mate, said on X Sunday morning. "Not running for reelection would be a clear admission that President Trump was right all along about Biden not being mentally fit enough to serve as Commander-in-Chief." But not all Republican members of Congress called on Biden to resign. Senate Minority Leader Mitch McConnell and House Majority Leader Steve Scalise in their statements both stopped short of saying Biden should not serve the remainder of his term.
As Biden passes the torch, both parties ask, ‘What happens now?’ 2024-07-21 20:23:21+00:00 - In his first television interview after last month’s presidential debate, President Joe Biden told ABC News’ George Stephanopoulos, “If I stop now, I’d go down in history as a pretty successful president.” By any fair measure, the incumbent had a point. Biden has an impressive record of accomplishments, and when scholars ranked all American presidents earlier this year, Biden fared quite well — which was more than his immediate predecessor could say. But facing daunting odds and a party filled with members who’d lost confidence in his ability to win in the fall, the Democrat’s “if I stop now” comments suddenly have renewed relevance. As my MSNBC colleague Hayley Miller summarized: President Joe Biden on Sunday announced that he is withdrawing his bid for re-election after weeks of pressure from top Democrats to drop out of the race amid concerns over his cognitive state and his ability to beat Donald Trump in November. “It has been the greatest honor of my life to serve as your President,” Biden wrote in a letter to Americans. “And while it has been my intention to seek reelection, I believe it is in the best interest of my party and the country for me to stand down and focus solely on fulfilling my duties as President for the remainder of my term.” He soon after endorsed Vice President Kamala Harris to succeed him. The stunning and historic announcement left the nation with a rather obvious question: “What happens now?” Unfortunately for everyone involved in the process, there is no precedent for such circumstances. Election Day 2024 is just 15 weeks away; the Democratic National Convention is poised to kick off four weeks from tomorrow; and there is no existing road map for officials to follow. For Democrats, the list of questions is long, and the list of answers is not. How will the party choose a nominee? Biden has endorsed Harris, and that will carry significant weight. Similarly, a variety of prominent congressional Democrats have also thrown their support behind the vice president. But others in the party have balked at the idea of a “coronation,” and there’s been talk in recent weeks about a possible “mini-primary” system — what some have referred to as a “blitz” primary — and that conversation is likely to intensify in the coming hours and days. What’s to come of the virtual nominating process? Officials at the Democratic National Committee have said they intend to move forward with plans for a virtual process in early August, not to curtail the debate over Biden, but in order to address potential legal hurdles regarding the ballot in some key states. The president’s announcement will complicate those plans. The Democratic running mate? No matter who the nominee is, they will obviously need a running mate, and the vetting process should’ve started weeks, if not months, ago. That said, a Washington Post report noted overnight that major Democratic donors “are funding a preliminary vetting process for potential vice-presidential nominees,” adding: “In recent days, people involved in the effort have contacted the teams of top Democratic figures, including Pennsylvania Gov. Josh Shapiro and Kentucky Gov. Andy Beshear, the people said, speaking on the condition of anonymity to discuss a sensitive effort. The donors are also interested in vetting North Carolina Gov. Roy Cooper, Michigan Gov. Gretchen Whitmer and Arizona Sen. Mark Kelly.” What about the money Biden has raised? Election law experts can speak to this with more authority than I can, but a recent NBC News report, published before Biden’s announcement, said: “If President Joe Biden decides to step aside for the 2024 race, Vice President Kamala Harris would be in line to get first dibs on the tens of millions of dollars in his campaign war chest.” Biden campaign manager Julie Chavez Rodriguez said during a call three weeks ago that in the event of the president dropping out, Harris would then control most of the money in their campaign account. NBC News’ report added, “That appears to be correct, according to some campaign finance experts — but likely only if she then became the Democrats’ presidential nominee.” What about Republicans? It is not a secret that Donald Trump and his party saw Biden as a highly vulnerable, easy-to-defeat incumbent. In fact, The New York Times reported overnight that the former president’s senior team “would prefer that Mr. Biden remains in the race,” adding: “After the debate, the Trump team decided to hold back advertising that could further damage Mr. Biden.” Now that the incumbent president is ending his candidacy, GOP officials and their allies will have to overhaul pretty much everything — their strategy, their messaging, their expectations, their advertising, etc. — and will simultaneously be launching legal challenges in the hopes of making the Democrats’ process as messy and difficult as possible. As recently as Sunday morning, House Speaker Mike Johnson explicitly endorsed those legal tactics. Buckle up.
10 Best Dividend Growth Stocks to Buy and Hold Forever 2024-07-21 20:00:00+00:00 - Dividend growth stocks typically outperform most other asset classes over five- to 10-year periods. I've selected 10 companies with strong dividend growth records that could amplify your portfolio returns over the long term. These blue-chip companies have navigated various headwinds while continuing to increase their payouts at a blistering rate. Let's examine why these top dividend growers might be worth buying as part of a long-term capital-appreciation and income-generating strategy. Image Source: Getty Images. 1. Lowe's Home-improvement retailer Lowe's (NYSE: LOW) has grown its dividend by 15.8% annually over the past five years. With a 1.93% yield and 19.1 P/E ratio, it balances income and value. Its strong market position in home improvement supports future dividend growth. 2. Visa Payment processing company Visa (NYSE: V) has increased its dividend by 15.7% annually over the prior five years. Despite a meager 0.78% yield, its market dominance and high margin suggest room for future payout growth. However, Visa stock is priced at a premium, given its 29.6 P/E ratio. 3. Parker-Hannifin Industrial technology firm Parker-Hannifin (NYSE: PH) has a five-year dividend growth rate of 13.1%. Its diverse product range and focus on growth markets like aerospace support ongoing increases. Its shares offer a decent 1.2% yield but are priced at a premium at 25.6 times trailing earnings. 4. Nordson Precision manufacturing solutions provider Nordson (NASDAQ: NDSN) has grown its dividend by 12.3% annually over the past five years. Its specialized manufacturing solutions and global reach provide a foundation for future payout growth. Nordson stock pays a below-average 1.15% yield and its shares trade at 28.2 times trailing earnings, which is premium territory. 5. Abbott Laboratories Diversified healthcare company Abbott Laboratories (NYSE: ABT) has increased its dividend by 11.4% annually over the past five years. Its diverse portfolio across medical devices, diagnostics, and nutrition offers multiple growth avenues and a margin of safety against downturns in any one segment. Abbott's stock pays a generous 2.16% yield, but it comes in as one of the most expensive dividend growers on this list, with shares exchanging hands at 32.2 times trailing earnings. 6. Target Retail chain behemoth Target (NYSE: TGT) has grown its dividend by 11.1% annually over the past five years. Its omnichannel strategy and brand strength have helped it navigate numerous challenges in the fiercely competitive retail landscape. Target stock pays a rather generous 2.99% yield and its shares are trading in bargain territory at 16.8 trailing earnings. This retail giant thus scans as a top play for value-oriented dividend investors. Story continues 7. Nike Athletic apparel and footwear company Nike (NYSE: NKE) has increased its dividend by 10.8% annually over the past five years. Its global brand strength and focus on direct-to-consumer (DTC) sales should support future dividend growth, despite the rocky start to its DTC campaign. A 2.04% yield and 19.5 P/E ratio offer an attractive blend of income and value. That said, Nike's shares have been in a prolonged downward trend because of unfavorable competitive dynamics in the athletic apparel industry, a key risk factor investors should carefully consider from a weighting perspective. 8. S&P Global Financial intelligence and analytics provider S&P Global (NYSE: SPGI) has grown its dividend by 9.8% annually over the past five years. Its key role in financial markets and data analytics positions it for continued success over the long term. On the flip side, S&P Global's stock pays only a 0.76% yield, and its shares trade at a staggering 53.7 times trailing earnings. Still, its wide economic moat in a critical sub-industry of the financial sector should translate into strong dividend growth and share price appreciation for investors willing to hold for the long haul. 9. Amgen Biotechnology company Amgen (NASDAQ: AMGN) has raised its dividend by 9.2% annually over the prior five years. Its product pipeline and focus on innovative therapies provide a base for future increases to the payout, as well as solid levels of share-price appreciation. Amgen stock pays a sizable 2.72% yield, but shares are priced at a hefty 47.4 times trailing earnings. This premium valuation may be warranted if Amgen's weight-loss pipeline bears fruit. 10. AbbVie Biopharmaceutical company AbbVie (NYSE: ABBV) has grown its dividend by 7.69% annually over the past five years, despite its aggressive acquisition strategy and headwinds emanating from the loss of exclusivity for Humira. Its diverse product range and solid clinical pipeline, though, should support additional dividend increases over the balance of the decade. AbbVie qualifies as a high-yield stock, with shares paying a 3.06% annualized yield. But its 51.3 P/E ratio may limit share-price appreciation in the near term. Don’t miss this second chance at a potentially lucrative opportunity Ever feel like you missed the boat in buying the most successful stocks? Then you’ll want to hear this. On rare occasions, our expert team of analysts issues a “Double Down” stock recommendation for companies that they think are about to pop. If you’re worried you’ve already missed your chance to invest, now is the best time to buy before it’s too late. And the numbers speak for themselves: Amazon: if you invested $1,000 when we doubled down in 2010, you’d have $20,625 !* Apple: if you invested $1,000 when we doubled down in 2008, you’d have $42,385 !* Netflix: if you invested $1,000 when we doubled down in 2004, you’d have $341,555!* Right now, we’re issuing “Double Down” alerts for three incredible companies, and there may not be another chance like this anytime soon. See 3 “Double Down” stocks » *Stock Advisor returns as of July 15, 2024 George Budwell has positions in Target. The Motley Fool has positions in and recommends Abbott Laboratories, Nike, S&P Global, Target, and Visa. The Motley Fool recommends Amgen and Lowe's Companies and recommends the following options: long January 2025 $47.50 calls on Nike. The Motley Fool has a disclosure policy. 10 Best Dividend Growth Stocks to Buy and Hold Forever was originally published by The Motley Fool
Biden drops out of 2024 presidential election, endorses Kamala Harris as Democratic nominee 2024-07-21 18:49:00+00:00 - President Joe Biden on Sunday dropped out of the 2024 presidential race and endorsed Vice President Kamala Harris as the Democratic Party's nominee, bowing to weeks of growing pressure by his own party members to quit his re-election bid against former President Donald Trump. "It has been the greatest honor of my life to serve as your President," Biden wrote in a post on the social media site X. "And while it has been my intention to seek reelection, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as President for the remainder of my term," Biden wrote. "I will speak to the Nation later this week in more detail about my decision," wrote Biden, whose bombshell decision came after a sharp spike in recent days in the number of congressional Democrats publicly calling for him to step aside for another nominee. Biden in a subsequent tweet wrote that his "very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President." "And it's been the best decision I've made. Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year. Democrats — it's time to come together and beat Trump," Biden wrote. "Let's do this." Harris in a statement said, "I am honored to have the President's endorsement and my intention is to earn and win this nomination." Former President Bill Clinton and former Secretary of State Hillary Clinton, in a joint statement from the Democratic power couple, said, "We are honored the join the President in endorsing Vice President Harris and will do whatever we can to support her." Biden, who has been isolated at his Rehoboth, Delaware, beach home after being diagnosed with Covid-19, and Harris spoke on Sunday before he announced he would drop out of the election race. NBC News reported that Biden at 1:45 p.m. ET Sunday told his senior campaign team that he had changed his mind about remaining in the contest. Trump in a phone interview with NBC News said of Biden's decision, "He should never have been there in the first place." "He should have stayed in his basement," said Trump, who was formally nominated as the Republican Party's candidate last week, days after narrowly avoiding being killed in an assassination attempt at a Pennsylvania campaign rally on July 13. Democratic National Committee Jamie Harrison in a statement said, "In the coming days, the Party will undertake a transparent and orderly process to move forward as a united Democratic Party with a candidate who can defeat Donald Trump in November." "This process will be governed by established rules and procedures of the Party. Our delegates are prepared to take seriously their responsibility in swiftly delivering a candidate to the American people," Harrison said.
What's New In the Consumer Tech World Last Week? News That You Should Know (July 14 - July 20, 2024) - Apple (NASDAQ:AAPL), Amazon.com (NASDAQ:AMZN) 2024-07-21 18:45:00+00:00 - Loading... Loading... Experts believe that Japan’s increasing dependence on foreign digital services like Amazon AMZN Prime and YouTube Premium by Google Inc. GOOGL GOOG is contributing to a rising “digital deficit,” potentially pressuring the yen’s value. Two decades after implementing the “great firewall,” Xi Jinping-led Chinese government is reportedly testing artificial intelligence systems to ensure they align with socialist values. The Cyberspace Administration of China is compelling tech giants and AI startups, including ByteDance, Alibaba Group Holding Ltd. BABA, Moonshot, and 01.AI , to participate in a mandatory government review of their AI models. The U.S. Customs and Border Protection has found that the redesigned Electrocardiography in the Apple Watch does not violate patents held by AliveCor, a medical device company. This ruling further complicates AliveCor’s legal challenges against Apple Inc. AAPL. Also Read: Microsoft’s ‘iPhone Moment’? Wedbush Analyst Dan Ives Expects AI To Add $1 Trillion To Valuation Gaming , Telecom & Media Netflix NFLX has decided to discontinue its most affordable ad-free subscription plan in the United States and France beginning Thursday. Telecom giant AT&T Inc. T allegedly paid a hacker around $400,000 to delete sensitive data they are said to have stolen. About 82% of American gamers made in-game purchases in freemium titles last year, according to Comscore’s 2024 State of Gaming Report (via GamesIndustry.biz). Warner Bros. Discovery Inc’s WBD Warner Bros. Games and NetherRealm Studios lifted the veil on the final DLC character for “Mortal Kombat 1” — Takeda Takahashi. Microsoft Corp.’s MSFT Activision has officially confirmed the beta dates for “Call of Duty: Black Ops 6,” marking a significant milestone for the franchise. Microsoft has unveiled a new Xbox controller inspired by none other than Deadpool himself. Nintendo ADR NTDOY recently teased a mysterious new project with the hashtag “#WhoIsEmio?” and a cryptic 15-second video. Larian Studios has officially announced details for the eagerly awaited Patch 7 for “Baldur’s Gate 3.“ Smartphones In the second quarter of 2024, both Apple and Samsung Electronics Co. SSNLF experienced a rise in smartphone shipments. However, the two tech giants saw a decrease in their overall market shares due to stiff competition from Chinese rivals. After unveiling it at the Worldwide Developers Conference (WWDC) in June, Apple has started rolling out the first iOS 18 public beta to eligible iPhones. Apple has given the green light to UTM SE, the first PC emulator for iPhone and iPad. This decision comes after the tech giant initially rejected the app, despite revising its App Store guidelines to allow game emulators. Also Read: 6 New Hidden iPhone Features You Probably Haven’t Discovered Yet on iOS 18 Apple could end up pushing back the use of Taiwan Semiconductor’s TSM 2-nanometer chip technology for its upcoming iPhone 17 series. Apple should beat last year’s Prime Day results due to “early access deals,” analysts say. Top analyst Ming-Chi Kuo has cast doubt on the anticipated surge in Apple's upcoming smartphone series, iPhone 16 sales. Technology & Artificial Intelligence (AI) Google has been testing the integration of Ultra HDR image capture into a limited camera API for Android 14. Microsoft launched its AI image generation tool, Microsoft Designer, as a free iOS app, outpacing Apple as the world waits for the iPhone maker to introduce Apple Intelligence. Apple has stated that its OpenELM model is not used to power any of its AI or machine learning features, including Apple Intelligence. AI startup Anysphere, the creator of an AI code editor named Cursor, is in the process of raising funds. The valuation of this round is a significant jump from the previous one. Researchers from the University of Tokyo have successfully attached living skin tissue to robotic faces, enabling them to “smile.” The smiling robot, featured in a study published by Cell Reports Physical Science, is the culmination of a decade-long research by Shoji Takeuchi and his team on the fusion of biological and artificial machines. Also Read: Photo: Shutterstock
With Biden's backing, Kamala Harris leads the pack in bid to replace him on the ticket 2024-07-21 18:27:00+00:00 - Vice President Kamala Harris received President Joe Biden’s backing Sunday to take his place as the Democratic presidential nominee, an endorsement he made after announcing he is abandoning his re-election bid. Biden’s decision to bow out breaks open the nominating process — meaning Harris or any other Democrat could seek the party’s nomination. The delegates who were elected during the primary to support Biden will now be tasked with voting on who will be the party’s nominee. The Democratic National Convention is scheduled to begin Aug. 19 in Chicago, and with Biden’s backing, Harris became the instant favorite. Harris, the first female vice president, would become the first Black woman and first person of South Asian descent to become a major-party nominee. “I am honored to have the President’s endorsement and my intention is to earn and win this nomination," she said in a statement after Biden's announcement and endorsement. "I will do everything in my power to unite the Democratic Party—and unite our nation—to defeat Donald Trump and his extreme Project 2025 agenda. “We have 107 days until Election Day. Together, we will fight. And together, we will win,” she said. Follow live updates on Biden's election withdrawal Biden’s historic and unprecedented decision to withdraw comes amid concerns over his age and mental sharpness sparked by his disastrous debate performance in June against former President Donald Trump. At 59, Harris is 22 years younger than the 81-year-old Biden. The daughter of immigrant parents — an Indian mother and a Jamaican father — the Oakland, California, native first made a name for herself as a prosecutor in the San Francisco district attorney’s office and was elected as the DA in 2003. She first rose to national prominence after becoming California attorney general in 2010. She was elected to the U.S. Senate in California in 2016, becoming the second Black woman and first South Asian woman to serve in the chamber. Tory Gavito, president of Way to Win, a national strategy hub for donors aligned with Democratic causes that in recent weeks invested money studying how to bolster Harris, said she believes she is the right person to be on the top of the ticket now that Biden has stepped aside. “We are ready to lock in and support Vice President Harris in her new role,” Gavito said. “She’s had a stellar track record in all of her political positions. She has refined her case for voting rights, her case for reproductive freedoms, her ability to govern on the economy and she’s ready.” Harris jumped into the 2020 presidential primary campaign in January 2019 during a rally in Oakland that drew about 20,000 people, but her fundraising and poll numbers began lagging that summer after the Democratic debates. She withdrew from the race in December, before the primaries started. Harris, who had pointed exchanges with Biden during the debates, was named his running mate in August 2020. At times, she struggled to find her footing during the first years of her vice presidency but gained prominence as the 2024 campaign ramped up. In particular, she spearheaded outreach to Black and Asian American voters, the former being a core demographic for Biden. As some Democrats began to lose confidence in the president’s ability to remain on the ticket, many began to voice support for her taking his place. Trump also began attacking Harris more forcefully in his campaign speeches. Some Democrats — publicly and privately — have questioned whether Harris is the best person to become the party’s nominee. But those doubts were largely quieted after several Black lawmakers and Democratic strategists said passing over Harris should be a nonstarter. They argued that she was the most qualified to do the job, having served alongside Biden, and that Democrats, a party whose most loyal voters are Black women, could not skip over her and anger their base. Biden, who at the time was still insisting he would remain in the race, also made clear during a July 11 press conference that he believed Harris was qualified to be president. “From the very beginning, I made no bones about that,” Biden said. “She is qualified to be president. That’s why I picked her.” Trump also began recently attacking Harris more forcefully in his campaign speeches. And Trump’s campaign, along with his running mate Sen. JD Vance, of Ohio, have sought to paint Harris as an extremist. Still, Gavito said Way to Win’s research and polling in battleground states from the past few weeks has shown Harris had a “significant boost” from “younger voter segments that Biden has struggled with” and performed well among voters of color and women. “Harris has done a lot to bring in really fundamental parts of our base, and I’m excited to see voters that have been in a column of not interested in either party get excited,” Gavito said. The selection of Harris as the nominee would end the possibility of an ugly floor fight at the convention, and would have major financial benefits for the vice president and the party as well. Campaign finance law experts have told NBC News that it is likely that Biden’s campaign war chest could be transferred to Harris because she was his running mate. Any other candidate would likely have to raise new money for his or her campaign.
Joe Biden, once considered too young to serve, now seen as too old to win 2024-07-21 18:19:00+00:00 - WASHINGTON — So ends the half-century career of a flawed but resilient politician who won the White House in a razor-thin election and lost it four years later in a debate: Joseph Robinette Biden Jr. Biden, 81, now eases into a lame-duck presidency for the next six months, as the party he once commanded abandoned him in the span of a few weeks for an as-yet-unnamed candidate to carry the fight against Donald Trump. Biden’s collapse began with a June 27 debate against Trump, when he turned in a disastrous performance from which he couldn’t recover. An elderly president with his mouth agape, he struggled to complete a sentence or finish a thought. One by one, Democratic leaders who watched in alarm broke their polite silence and openly called on him to step aside. Follow live updates on Biden's presidential election withdrawal Stunning as his fall may be, Biden may be better prepared than most to deal with repudiation. Few presidents in history have endured as much tragedy and disappointment as the 46th. Biden’s life has careened between unexpected triumph and unimaginable loss. He won elections and lost them. He built a family, lost part of it, rebuilt it, and lost part of it once more. Hardened by experience, Biden seems to grasp that political partnerships are transactional: They come with an expiration date. If you want a friend in Washington, “get a dog,” Biden said at an NAACP convention on July 16, invoking former Democratic President Harry Truman’s famous dictum.
Labour urged to follow through on Tories’ promised £100m gambling levy 2024-07-21 17:31:00+00:00 - Keir Starmer has been urged to follow through on the previous government’s plan for a £100m-a-year levy on gambling companies. In an open letter to the prime minister, “deeply concerned” advocates of the proposal issued a warning that a delay could cost lives. The Conservatives published a white paper on reform of gambling regulation last year but many of its proposals have been left up in the air by Labour’s election victory. One significant measure yet to be finalised is a statutory levy on gambling companies’ revenues to fund research into problem gambling, education and treatment. The levy was expected to raise £100m, which would be spread between the NHS, which would oversee treatment; UK Research and Innovation, for research into gambling harms; and the Office for Health Improvement and Disparities, looking at harm prevention. However, the plan was not included in policy proposals laid out in the king’s speech last week. Campaigners for gambling reform have also expressed misgivings about ties between senior Labour politicians and the betting industry and what impact the relationships might have on the future of plans set out in the white paper. In their open letter to Starmer, members of the House of Lords, campaigners and academic researchers called on the government to publish its response to a public consultation on the levy and implement legislation to enact it. “For years, the gambling industry exerted influence over the research, prevention and treatment of gambling-related harm by providing inadequate funding through a voluntary system,” they said. Writing that they were “deeply concerned by the delay to enact a statutory levy”, the letter’s signatories called on the government to press on with it. “This commitment has received support from all sides of the political debate, as well as leading NHS clinicians and academic experts,” they said. They said any delay “will lead to further harm to mental health, damage communities across the country and, ultimately, will cost lives”. Signatories include the chief executive of the Samaritans, eight members of the House of Lords, academics and campaign groups. Gambling-related harm is expected to come into sharper focus this week when the Gambling Commission publishes figures based on a new set of methods. These figures are expected to indicate that rates of problem gambling may be higher than previously thought. When the regulator issued an experimental survey using the new methods in November last year, it showed that 2.5% of the population may be suffering from problem gambling;the previous estimate was 0.3% estimate. skip past newsletter promotion Sign up to Business Today Free daily newsletter Get set for the working day – we'll point you to all the business news and analysis you need every morning Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion The commission is also expected to publish evidence of the links between gambling and suicide. Supporters of the levy say the current system of voluntary donations gives the industry too much influence over funding intended to help the very people that bookies and online casinos make their money from. A government spokesperson said: “As stated in the government’s manifesto, we are absolutely committed to reducing gambling-related harm. “We will ensure responsible gambling and strengthen protections for those at risk.” Some measures included in the white paper are already set to go ahead, including a cap of between £2 and £5 on digital slot machine stakes, while a pilot scheme testing the effectiveness of affordability checks to stop punters losing vast sums is under way. Other proposals have been left in limbo by the change of government, including proposals for a gambling ombudsman to settle disputes between customers and operators. The white paper avoided action to curb gambling advertising, although Premier League teams will voluntarily forgo betting sponsors on the front of shirts from the season after next.
UK doctors and travel firms warn of backlog after global IT outage 2024-07-21 17:19:00+00:00 - NHS patients have been warned GP services “cannot be resumed immediately”, and stranded holidaymakers told it could take “days” to get them to their destinations, as the effects of Friday’s global IT outage continue. CrowdStrike, the cybersecurity company at the heart of the crisis, said on Sunday that it had deployed a fix for the “defect” with its software, which has caused chaos around the world for businesses that use Microsoft operating systems. But the outage has caused a backlog to crucial services, including the NHS, which will take time to clear, the British Medical Association (BMA) said. “Friday was one the toughest single days in recent times for GPs across England,” said Dr David Wrigley, deputy chairman of GPC England, the representative body for GPs at the BMA. “Without a clinical IT system, many were forced to return to pen and paper to be able to serve their patients. “While GPs and their teams worked hard to look after as many as they could, without access to the information they needed much of the work has had to be shifted into the coming week.” Wrigley said the temporary loss of the Emis patient record system used by GPs had led to a “considerable” backlog. He added: “Even if we could guarantee it could be fully fixed on Monday, GPs would still need time to catch up from lost work over the weekend, and NHS England should make clear to patients that normal service cannot be resumed immediately. People dialling the NHS 111 telephone line, for urgent health problems that are not life-threatening, were told that the outage meant that information given to call handlers might not be passed on to hospitals or clinics that callers were told to visit. Computer systems affected by the CrowdStrike problem, triggered by a software update on Friday, have largely returned to normal. But the knock-on effect on crowded summer holiday flight schedules means the global air travel network is still suffering disruption. Some stranded air passengers were warned it could take “days” to get them to their destination and that there may be no accommodation for them in the meantime, as hotels are busy during the peak summer holiday season. The no-frills airline Wizz Air said its systems were up and running but warned that flight schedules would take “some time to return to normal”. The airline said customers could rebook or seek refunds via their online accounts. But it admitted that it might not be able to find stranded passengers suitable accommodation, promising to reimburse customers if they could find a place to stay “within a reasonable amount”. It did not specify what it considered reasonable. Travel firm TUI said it had cancelled 11 flights from five UK airports on Sunday, after axing 32 flights from 10 airports on Friday, blaming the effect of the CrowdStrike outage on its airline’s crewing system. Terrible service from TUI. Got to the airport at 3am to be told no aircraft or crew for our flight. No apologies or anything. Told to go home and wait for an update. £100 return in a taxi, to be told at 10.30am it’s cancelled with no alternative flight. — Rachel Adam’s (@RachelA95381055) July 21, 2024 The cancellations mean some package deals have been called off at short notice. Flight and hotel customers who were due to travel on a cancelled flight will be able to change their holiday to any other TUI package without paying admin fees, including a 10% “rebooking incentive” if the new holiday is more expensive. Customers will also receive a £200 voucher for future trips, or £100 for children. Those who wish to cancel will receive a full refund, as well as the voucher. Flight-only customers will automatically receive a refund on cancelled trips. On Friday, the UK’s Civil Aviation Authority wrote to airlines reminding them of their obligations to help travellers with replacement flights, and refreshments and accommodation when needed. It told them that the outage was likely to be regarded as “extraordinary circumstances”, which meant they would not have to pay fixed compensation. Airlines’ battle to return to normal service were not helped by weather-related restrictions imposed over European skies on Saturday. EasyJet said it was not affected by the CrowdStrike outage but was still wrestling with the flight backlog caused by bad weather. It said customers could rebook or receive a refund, hotel accommodation and meals when required. On Sunday, CrowdStrike said that the outage had been identified and that “a fix has been deployed.” “We understand the gravity of this situation and are deeply sorry for the inconvenience and disruption.”
Anti-whaling campaigner arrested in Greenland and police say he may be extradited to Japan 2024-07-21 17:14:28+00:00 - BERLIN (AP) — Greenland police said they arrested a veteran environmental activist and anti-whaling campaigner on Sunday on an international arrest warrant issued by Japan. Paul Watson was arrested when his ship docked in Nuuk, Greenland’s capital, a police statement said. He will be brought before a district court with a request to detain him pending a decision on his possible extradition to Japan, the statement said. The Captain Paul Watson Foundation said that more than a dozen police boarded the vessel and led Watson away in handcuffs when it stopped to refuel. The foundation said the ship, along with 25 volunteer crew members, was en route to the North Pacific on a mission to intercept a new Japanese whaling ship. “The arrest is believed to be related to a former Red Notice issued for Captain Watson’s previous anti-whaling interventions in the Antarctic region,” the foundation said in an emailed statement. “We implore the Danish government to release Captain Watson and not entertain this politically-motivated request,” Locky MacLean, a foundation director, said in the statement. Greenland is an autonomous territory of Denmark. Watson, a 73-year-old Canadian-American citizen, is a former head of the Sea Shepherd Conservation Society whose direct action tactics, including high-seas confrontations with whaling vessels, has drawn support from A-list celebrities and featured in the reality television series “Whale Wars.” However, it has also brought him into confrontation with authorities. He was detained in Germany in 2012 on a Costa Rican extradition warrant, but skipped bail after learning that he was also sought for extradition by Japan, which has accused him of endangering whalers’ lives during operations in the Antarctic Ocean. He has since lived in countries including France and the United States. Watson, who left Sea Shepherd in 2022 to establish his own organization, was also a leading member of Greenpeace, but left in 1977 amid disagreements over his aggressive tactics. According to his foundation, Watson’s current ship, the M/Y John Paul DeJoria, was due to sail through the Northwest Passage to the North Pacific to confront a newly built Japanese factory whaling ship, “a murderous enemy devoid of compassion and empathy hell bent on destroying the most intelligent self-aware sentient beings in the sea.”
Best Performing Mid Cap Stock In The Last Week - VF (NYSE:VFC), Riot Platforms (NASDAQ:RIOT) 2024-07-21 17:03:00+00:00 - Loading... Loading... These eleven mid-cap stocks were the best performers in the last week. Are they in your portfolio? Virtu Financial, Inc. VIRT shares jumped 30.04% after reporting better-than-expected Q2 financial results. V.F. Corporation VFC stock upped 22.38% after the company announced it entered into a Stock and Asset Purchase Agreement to sell its Supreme brand to EssilorLuxottica ESLOF for $1.5 billion in cash . Several analysts raised their price forecasts on VFC. New Fortress Energy Inc. NFE shares grew 20.19% after the company announced that it achieved First LNG for its initial Fast LNG asset located offshore Altamira, Mexico. Riot Platforms Inc RIOT stock gained 16.06% in the last week amid a rise in the Bitcoin price. Clarivate Plc CLVT stock grew 14.41%. The company partnered with Ohio Libraries Partner to enhance resource sharing by 2025. AMN Healthcare Services, Inc. AMN stock rose 14.22%. BankUnited, Inc. BKU stock rose 13.42% after the company reported better-than-expected Q2 financial results. Marathon Digital Holdings Inc.'s MARA stock soared 12.67% last week on the back of Bitcoin gains. eXp World Holdings Inc EXPI stock was up 12.34%. Zeta Global Holdings Corp ZETA was up 11.87% in the last week as several analysts raised their price forecasts on the stock. NCR Atleos Corporation NATL shares increased 11.39%. The company disclosed that the $2.3 billion-asset Black Hills Federal Credit Union (BHFCU) has expanded its partnership with Atleos by selecting ATM as a Service (ATMaaS) and ITM as a Service (ITMaaS) to enhance self-service banking. Also Read: Photo via Shutterstock
Boeing 'disappointed' customers but is on the path to 'transformational change,' commercial jet CEO says 2024-07-21 17:03:00+00:00 - LONDON — Boeing 's output of 737 Max planes is showing signs of improvement, the new head of its commercial unit said ahead of a major air show on Sunday, while admitting that the manufacturer has "disappointed" customers with delayed planes. Boeing is trying to get past several safety and manufacturing crises, including the midair door plug blow out in January, which have slowed deliveries of planes to airlines and prompted the Federal Aviation Administration to increase its oversight of the storied manufacturer. Stephanie Pope, in her first press conference since taking over the key role at the troubled aircraft manufacturer in March, reiterated that Boeing has committed to increasing production of the Max to 38 a month. Production slipped into the mid-20s per month in the first half of the year, analysts have said. Pope said Boeing is on the right path to improving its manufacturing quality, safety and predictability of deliveries, a "transformational change" that she said will take years. "It still doesn't take away the reality that we've disappointed" our customers, she said at a press conference before the Farnborough Airshow, outside of London. "We've impacted their business and we haven't met the commitments and lived up to being the partner that they expect and they need us to be." Boeing has unveiled a host of goals aimed at getting it back on the right path, like improving worker training and manufacturing processes, among others. In the spring it delivered an improvement plan to the FAA that the agency ordered after the blowout in January. "This plan is not a three month plan," said Pope. "I call it transformational because some of these actions will take years." As part of the leadership shakeup that promoted Pope to head the commercial unit, Boeing's CEO Dave Calhoun said he would step down by year's end. When asked whether she was interested in the role, Pope said she is focused on the commercial unit's recovery. "That is my priority," she said. Boeing's problems aren't limited to its commercial program, however. Its defense unit has also been grappling with delays, including of the money-losing and delayed modification of two Boeing 747s that will serve as the next two Air Force One aircraft.
AMD And Domino's Pizza Were Among 11 Worst Performers In Large Cap Space Last Week (July 14- July 20) - Are The Others In Your Portfolio? - Advanced Micro Devices (NASDAQ:AMD), Domino's Pizza (NYSE:DP 2024-07-21 16:34:00+00:00 - AMD And Domino's Pizza Were Among 11 Worst Performers In Large Cap Space Last Week (July 14- July 20) - Are The Others In Your Portfolio?
Small businesses grapple with global tech outages created by CrowdStrike 2024-07-21 16:15:59+00:00 - NEW YORK (AP) — An owner of a consumer insights research firm couldn’t pay her employees, make Friday’s deadline to sign a contract for a new business or send key research to a key client. A psychiatrist, who runs a virtual mental health practice in Maryland, saw his business hobbled as some of his virtual assistants and therapists couldn’t either make phone calls or log on to their computers. And a restaurant owner in New York City was worried about how he was going to pay his vendors and his workers. Businesses from airlines to hospitals have been grappling with a faulty software update that caused technological havoc worldwide on Friday, and its repercussions continued through the weekend. The breadth of the outages highlighted the fragility of a digitized world dependent on a few providers for key computing services. But the problem appeared to divide those affected into haves and have-nots. Major customers of Microsoft and CrowdStrike are getting IT support to resolve the issues, but many smaller businesses whose Windows PCs may have received the problematic update are still struggling. Take Tsvetta Kaleynska, owner and founder of the Manhattan-based consumer insights company RILA Global Consulting, which has Fortune 500 clients. As of Saturday, she resolved the payroll issue and she got an extension until Monday on the research project. But the prospective client will not move forward with the new contract, cutting her annual earnings by nearly 25%, she estimated. The problem: she couldn’t sign the contract because Docusign, which runs on Microsoft software affected by the faulty update, was down. “If I were part of a big company, then I would be able to delegate and get support from computer science or security services,” Kaleynska said. “But as a small business owner, I am depending only on myself. It’s pretty devastating.” On top of Kaleynska’s business issues, she had to bring her ill daughter to a local hospital Friday because the hospital’s phone lines were down. Kaleynska, an immigrant from Bulgaria who became a U.S. citizen in 2023, said she’s learned a hard lesson: “Our lives are very fragile because they’re based on technology, and we depend on technology.” CrowdStrike is one of the largest cybersecurity firms in the U.S. and has a list of customers that includes more than half of the Fortune 500 companies as well as small and medium-sized businesses. Following the outage, the company provided an initial fix through a software update. But many computers are expected to need hands-on work that could take days, if not longer, to complete. For many small businesses that are impacted, that could mean working around the clock this weekend to make sure their systems are up and running, said Wedbush tech analyst Dan Ives. “Small businesses rely on third parties for this not to happen and instead, it became a ‘code red’ situation,” Ives said. Overall, Ives noted tech problems can be easier to fix for big companies that have a sizable number of experts on their payroll as opposed to small businesses who could face more of an “uphill battle” because they have fewer technical resources. “The ripple effects from this could be felt for days and weeks ahead,” Ives said. “It’s not just a black eye moment for CrowdStrike, but for the broader industry. You can’t have one fat finger update take down a global ecosystem.” Ari Lightman, a professor of digital media at Carnegie Mellon University’s Heinz College, agreed, noting the amount of money big companies spend on Microsoft and CrowdStrike is likely a large portion of their IT budget. On the other hand, small businesses can look at information online on how to resolve the outage. CrowdStrike has posted step-by-step manual fixes to its blog, but it can be intimidating for those who are less tech savvy. Pedestrians walk by blacked out screens, due to a global technology outage, in Times Square, Friday, July 19, 2024, in New York. (AP Photo/Yuki Iwamura) Lightman said those corporations could sue for a loss of business, but small ones might use class action suits to go after CrowdStrike for compensatory damages. The issue is affecting small businesses differently. Heather Garlich, a spokeswoman at Arlington, Va., grocery industry group FMI, said the outages were “somewhat spotty and inconsistent depending on how businesses use certain Microsoft tools.” She said she was aware of one with an issue with a human resource system, while another had problems with their routing system for distribution. Yet another had issues with its cash registers. Chris Seabrook, who owns a locksmith services business in Melbourne, Australia, called Asguard Locksmiths, told The Associated Press in a Friday email that the IT outage had thrown a “significant wrench” in his daily operations. He hasn’t been able to send and receive emails, access critical files, manage his schedule or create invoices. “My Microsoft PC is essential for many important functions in my business,” he wrote. “As a one-man business, every minute counts and this disruption has forced me to adapt quickly to ensure my services remain as uninterrupted as possible.” Trucks sit parked at a FedEx shipping terminal due to a global technology outage, at Phoenix Sky Harbor International Airport Friday, July 19, 2024, in Phoenix. (AP Photo/Ross D. Franklin) To minimize the disruption, Seabrook borrowed a non-Microsoft device from a friend that enabled him to sign into his accounts and access some of his critical tools and information. He’s also using his smartphone for important messages and organizing his schedule. And he’s been contacting clients to update them on the situation. Seabrook didn’t immediately respond to a follow-up email sent by The Associated Press on Saturday. Some small business owners have improvised to get work done. Dr. Ozan Toy, a psychiatrist, and chief medical officer at the Maryland-based Telapsychiatry, which has 25 employees across the U.S., said some employees with Microsoft phone lines instead turned to the Ring Central System, while others shifted from Microsoft Teams to Zoom. Toy said his business was fortunate to have several backups of its electronic medical record system, allowing them to resume communications with each other and their patients. As of Sunday, the practice’s cloud based services were running, he said. Toy noted financial losses were “minimal” as it has an external answering service taking calls from patients. Chris Delmond, the co-owner of Handcraft Hospitality, which operates three restaurants in Manhattan and one in Mt. Pleasant, South Carolina, said his restaurants remained open for business. But the outage meant he could not have access to his cloud-based accounting software app on the Microsoft platform. That prevented him from seeing receipts and invoices, and slowed his ability to process checks to his employees and suppliers. He had to resort to calling his banks to see whether deposits had been made and check balances. “I’m a small business owner. I have two other partners and we kind of do everything,” he said. “So it’s up to us to find out what the issues are. I don’t have large platforms that help me track.” But by late Friday afternoon, all the issues related to his business’ cloud based systems were back to normal, Delmond said. He noted he didn’t suffer any financial losses, but he added, “It’s frustrating, but as a small business owner you deal with the ups and downs.”