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If you still need money for college and haven't submitted a FAFSA, fill it out ASAP, financial aid expert says 2024-07-16 20:42:00+00:00 - It's almost time for college students to move into their dorms and get ready for the upcoming school year. If that's you and you haven't checked "submit my FAFSA" off your to-do list, take care of that ASAP. As of July 5, less than half of the high school class of 2024 had submitted a Free Application for Federal Student Aid, according to the National College Attainment Network's analysis of Federal Student Aid data. FAFSA submissions from this class are down about 11% compared to last year's, NCAN finds. It's not just incoming freshmen, though. Returning college students need to submit a new FAFSA every year to be considered for aid. While it may have been difficult for students and their families to submit a FAFSA at the beginning of this year's application cycle, most of the technical issues have been resolved by now. "Fill out the FAFSA. Just fill it out," Jill Desjean, senior policy analyst at the National Association of Student Financial Aid Administrators, tells CNBC Make It. The deadline to apply for federal aid for the 2024-25 school year isn't until June 30, 2025. But if you're starting school in August or September, you'll probably need to get your school bills — and any applicable aid — figured out by then. There is currently an $11 billion surplus of federal Pell Grant funding waiting to go to eligible students, according to the Congressional Budget Office. That doesn't mean more people will become eligible or that eligible aid recipients will inherently receive more federal aid. Since the Pell program is mostly funded through discretionary appropriations in the congressional budget, it's designed to carry a surplus from year to year, Desjean says. So, for example, "in a future year, if more students needed money than was appropriated, they could draw from the surplus, instead of just cutting people off," she says. Not everyone will qualify, but you don't know for sure until you fill out a FAFSA. Pell Grant eligibility was expanded this year to link eligibility to family size and the federal poverty level. Almost 1.5 million more students are eligible for maximum Pell Grants amounts of $7,395 this year, according to the Department of Education. "Maybe you'll get a Pell Grant. But [the FAFSA] also unlocks the door to state grants, it opens the door to institutional grants and other types of federal aid as well," Desjean says. Even the largest Pell Grant amount available may not seem like a lot of money compared with the total cost of attendance, which can be close to $90,000 a year at some schools. But nearly a quarter of college students say they need to come up with $5,000 to pay for the 2024-25 school year, according to a recent ScholarshipOwl survey. Want to stop worrying about money? Sign up for CNBC's new online course Achieve Financial Wellness: Be Happier, Wealthier & More Financially Secure. We'll teach you the psychology of money, how to manage your stress and create healthy habits, and simple ways to boost your savings, get out of debt and invest for the future. Start today and use code EARLYBIRD for an introductory discount of 30% off through September 2, 2024. Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.
The 15 best places to live in the South 2024-07-16 20:41:09+00:00 - The southern parts of the United States are booming, with robust economic and population growth. We wanted to pinpoint the best cities to live in the South for affordability and quality of life. Of the top 15 southern cities, three are in North Carolina, according to US News and World Report. 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 The South is booming. In recent years, the 16 states below the Mason-Dixon line have seen significant population and economic growth. In 2023, the 10 counties in the US with the most people moving in from other parts of the country were mainly in the South, according to the latest regional migration data from the Census Bureau. Surely you've read the many tales of New Yorkers and Californians moving to the South in search of better job opportunities and, in many cases, a more affordable cost of living. Other reasons movers cite include better weather and more laid-back atmospheres. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .
Morgan Stanley Capital Markets Segment Shines, Analysts Say - Morgan Stanley (NYSE:MS) 2024-07-16 20:41:00+00:00 - Loading... Loading... Morgan Stanley MS reported second-quarter earnings per share (EPS) of $1.82 on Tuesday. That’s up from $1.24 a year ago and beating the consensus of $1.65. The U.S. bank reported second-quarter sales of $15.02 billion, up 11.6% year over year, beating the consensus of $14.30 billion. Sales were balanced across Wealth Management and Institutional Securities. Goldman Sachs writes the revenue beat was entirely in capital markets (14.5% better than the Street). Wealth (ex DCP) and investment management revenue were weaker, the firm noted. The analyst notes that Capital markets drove the revenue beat, but this may be partially offset by misses in wealth revenue (excluding DCP), wealth net interest income, and wealth net new assets compared to expectations. Additionally, the 3% quarter-over-quarter wealth net interest income decline raises concerns about future performance. Goldman Sachs writes investment banking came in 21% above the Street estimates. Goldman Sachs keeps the Buy rating, with a price target of $112. JP Morgan notes robust overall investment banking performance, with equity investments at the upper end of the peer range, showing a year-over-year (YoY) increase of 7% to 21% and an average of 15%. Fixed Income, Currencies, and Commodities (FICC) also show strength, with a 16% YoY increase compared to the US peers’ average of 4% and a range of -3% to 17%. However, wealth management net interest income decreased by 3% quarter-over-quarter (QoQ), falling short of the guidance for flat growth. The pre-tax margin of 27% aligns with JP Morgan’s estimates, limiting significant upgrade potential. “Overall, management is showing strong cost discipline with headcount declining -1% quarter-over-quarter,” JPMorgan’s analyst notes. JPMorgan analyst maintains a Neutral rating for Morgan Stanley. Price Action: Morgan Stanley shares are up 1.01% at $106.33 at last check Tuesday. Now Read: Image: Unsplash
Few residents opt out of $600 million class action settlement in East Palestine, Ohio, derailment 2024-07-16 20:37:28+00:00 - Few people ultimately opted out of the $600 million class action settlement Norfolk Southern offered to people affected by last year’s disastrous East Palestine train derailment despite the questions residents raised about the deal, lawyers said. The plaintiffs’ attorneys said only 22 of the nearly 2,000 households in the small Ohio town where the derailment happened in February 2023 opted out of the deal before the July 1 deadline. In total, only 173 of the more than 190,000 households in the 20-mile (32.2-kilometer) area around the derailment covered by the deal had decided not to accept it as of Monday’s filing. The train crash spilled an assortment of hazardous chemicals from tank cars that ruptured, and days after the derailment, officials decided to blow open five tank cars and burn the vinyl chloride inside because they worried the cars might explode. The National Transportation Safety Board has said that vent and burn procedure was likely unnecessary but the officials who made that call didn’t have all the information they needed. A federal judge has given the deal preliminary approval, but a hearing will be held in late September to determine if the deal should go through. Separately, Norfolk Southern agreed to pay a $15 million fine and make changes to its operation as part of a federal settlement. The lawyers said in a statement Tuesday that “the community’s response to the settlement has been overwhelmingly positive” and thousands of claims have already been submitted. A handful of residents filed formal objections to the deal because they believe it’s not fair that some of the people who were most affected by the derailment might wind up with the smallest settlements and that people didn’t have enough time or information to decide whether this deal is fair. Residents had a chance to hear the NTSB discuss the reasons why the train derailed and the communication failures afterward at the board’s June 25 hearing, but the agency didn’t release its final report until Friday — nearly two weeks after people who live near East Palestine had to decide whether to accept the settlement. And the lawyers haven’t yet filed the detailed test results and other evidence they gathered as part of the lawsuit. Some residents might receive little or nothing from the settlement because the final amount they get will be reduced by how much assistance they took from Norfolk Southern since the derailment. Even households near the derailment that are supposed to get roughly $70,000 could wind up with nothing if the railroad put them up in pricey hotels or rental homes for months. One of the leading critics of the deal, Jami Wallace, said people like her who lost their homes and experienced illnesses after the derailment shouldn’t be denied compensation. “Getting nothing for suffering and intentional poisoning is not fair or adequate,” Wallace said in her formal objection. Norfolk Southern provided more than $21 million in direct assistance to families who had to temporarily relocate after the derailment. The lawyers who negotiated the deal with the railroad have said that kind of offset procedure is customary in any lawsuit, so residents would likely face that even if they pursued their own lawsuits against Norfolk Southern. The amount people are supposed to receive from the settlement also varies based on how close they lived to the derailment and how it affected them. Documents filed in court suggests that a family living within 2 miles (3.2 kilometers) of the derailment might receive $70,000 for property damage. Someone who lived farther away will get considerably less — maybe only $250 for families more than 15 miles (24 kilometers) away. The lawyers have said some people could receive more than those estimated amounts after a claims administrator reviews all the individual factors. Resident Tamara Lynn Freeze said in a handwritten note to the judge that it’s unfair to make her decide whether to accept the settlement before she even knows exactly how much she might receive from it. The settlement offers payments of $10,000 for injuries, but accepting that would mean that residents won’t be able to sue the railroad down the road if they develop cancer or other serious health conditions. They don’t have to accept the personal injury payment to get the money for property damage. Many people are still reporting respiratory problems, unexplained rashes and other symptoms more than a year after the derailment while others have no health complaints. And residents worry about the potential long-term health implications of all the chemicals they have been exposed to. The court wouldn’t allow the settlement to include anything for potential future health costs because those aren’t known yet, the lawyers say. The plaintiffs’ attorneys are expected to share up to $162 million in legal fees out of the settlement if the judge approves.
JD Vance once wrote that he 'convinced myself that I was gay' when he was a kid 2024-07-16 20:28:01+00:00 - 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. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview According to Sen. JD Vance's best-selling "Hillbilly Elegy," the Ohio senator once told his grandmother that he thought he might be gay. Vance, now former President Donald Trump's vice presidential nominee, recounted the tale in his 2016 autobiography as he discussed his grandmother's relatively tolerant approach when it came to Christian teachings. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. In Vance's telling, the episode occurred when he was just a kid. As he wrote: "I'll never forget the time I convinced myself that I was gay. I was eight or nine, maybe younger, and I stumbled upon a broadcast by some fire-and-brimstone preacher. The man spoke about the evils of homosexuals, how they had infiltrated our society, and how they were all destined for hell absent some serious repenting. At the time, the only thing I knew about gay men was that they preferred men to women. This described me perfectly: I disliked girls, and my best friend in the world was my buddy Bill. Oh no, I'm going to hell." When he brought up the issue with his grandmother — known to Vance as "Mamaw" — she replied bluntly: "Don't be a fucking idiot, how would you know that you're gay?" Advertisement When Vance explained his reasoning, she laughed. "JD, do you want to suck dicks?" she said, according to the book. Related stories The young Vance, apparently "flabbergasted," said: "Of course not!" "Then you're not gay. And even if you did want to suck dicks, that would be okay," she replied. "God would still love you." Advertisement Vance wrote that the episode helped him recognize that "gay people, though unfamiliar, threatened nothing about Mamaw's being. There were more important things for a Christian to worry about." Vance contrasted that approach with the one taken by his biological father, Donald Bowman, who he reconnected with when he was 11. Vance's father was a member of a more religiously conservative church, the ideology of which had "made the world a scary and foreign place," in Vance's recounting. Now a 39-year-old US senator, Vance has largely opposed LGBTQ rights, including opposing the Respect for Marriage Act, a bill to protect same-sex marriage that passed before he was sworn into office. Over the course of his 18-month Senate tenure, Vance's focus has been directed more toward curtailing transgender rights, rather than gay rights. Last year, he introduced a bill to criminalize gender-affirming care for minors. Advertisement "Most Americans, I think, don't really care about same-sex marriage," Vance told Business Insider last year.
New homes will continue to get smaller, according to new survey 2024-07-16 20:27:00+00:00 - Will houses become more affordable in 2024? As home sizes shrink, hallways are on the chopping block. That's according to a new report out this month from John Burns Research and Consulting, which looks at how the architecture of new housing stock in the U.S. is expected to shift in the coming years. Mikaela Arroyo, one of the researchers, said that based on the types of homes architects said they are designing, consumers can expect homes to continue to get smaller and their layouts more compact. That's on par with findings from other surveys the consulting firm has conducted in recent years. This complicates the design process for architects who have to figure out how to do more with less. The question, said Arroyo, becomes, "How is the designer going to combine spaces, maybe into a flex space, or eliminate unused spaces, and make everything fit into a smaller package?" Last year, about 25% of floor plans designed by architects were downsized to cut costs, according to John Burns. Construction spending has soared over the years, and home prices are in record territory. According to Realtor.com, while the median price of homes for sale hasn't fluctuated much since last year, the median price per square foot jumped by 3.4%, suggesting the share of smaller homes is growing. The median size for a new single-family home sold in 2023 was 2,286 square feet — down from 2,328 square feet in 2022, according to the U.S. Census Bureau. The census data indicates that the median size for single-family homes has been shrinking since 2014, when it reached a peak of 2,526 square feet. Say farewell to hallways? As homes shrink in size, hallways could be one of the first casualties. Eliminating these liminal spaces would decrease the number of interior walls and allow for more condensed homes, the survey found. "Essentially, we're Tetris-ing the functional rooms together, avoiding wasted square footage on non-functional areas like hallways," the report said. Other tactics Arroyo has noticed designers employing to save on space include eliminating a formal dining room, adding storage in unused spaces (under the staircase, for example), three-story homes with the living space on the second floor, and tandem garages. The survey also found that more homes will have some sort of "flex space" — rooms that can serve multiple functions, like a playroom or office. Over half new homes built last year included some sort of flex space, according to John Burns. "A more attainable price point" While homebuyers will have to contend with tighter spaces, the shrunk-down home sizes could ease the burden on their bank accounts. Those looking to buy face a tough housing market, with mortgage rates hovering at 7% and record high homes prices. A recent report from real estate analytics firm ATTOM found that homes are unaffordable in 80% of U.S. counties. Smaller homes could help. "The increase in budget-friendly homes priced in the $200,000 to $350,000 range outpaced all other price categories for the past five months," wrote Julie Taylor in an article from Realtor.com. "That means buyers have way more homes to choose from at a friendly price range at a time when mortgage rates remain stubbornly high." While this new housing stock will attract certain crowds — like millennials looking to save — it could be a turnoff for older generations who don't want to sacrifice space. Younger buyers will have to contend with tradeoffs like smaller eat-in kitchens, the survey found, but reining in costs will be a huge incentive. "This is essentially being done so that homes can get to a more attainable price point for those entry-level buyers," said Arroyos.
Elon Musk says SpaceX and X headquarters moving to Texas, blames California trans student privacy law 2024-07-16 20:26:00+00:00 - SpaceX CEO and X owner Elon Musk said Tuesday he will move the headquarters of both companies from California to Texas. Musk had vowed to make the moves in response to Gov. Gavin Newsom (D-Calif.) signing a new law that bars school districts in that state from requiring parents to be notified of a child's gender identification change. Newson signed the student transgender law on Monday. "This is the final straw. Because of this law and the many others that preceded it, attacking both families and companies, SpaceX will now move its HQ from Hawthorne, California to Starbase, Texas," Musk posted on X. He later added that X HQ will also move from San Francisco to Austin. "I did make it clear to Governor Newsom about a year ago that laws of this nature would force families and companies to leave California to protect their children," he added. In 2022, People magazine reported, Elon Musk's then 18-year-old daughter was granted permission to legally change her name and gender to Vivian Jenna Wilson. She shed the Musk family name and took the maiden name of her mother, Justine Wilson, instead. When asked about his estranged transgender daughter in October 2022, Musk told the Financial Times "Can't win them all," and claimed to have good relationships with all his other children. Musk also told the Financial Times that his daughter's decision was caused by "neo-Marxists" at educational institutions. Musk recently endorsed former President Donald Trump and reportedly plans to contribute $45 million per month to a pro-Trump super PAC called the America PAC. Trump is expected to roll back transgender rights if elected president again this year. The 19th News reported, citing a February 2023 Trump campaign video, that his proposals would "terminate Medicare and Medicaid funding for hospitals that provide gender-affirming care to trans youth, attempt to charge teachers with sex discrimination for affirming students' gender identities, and order federal agencies to cease all programs that promote the concept of sex and gender transition at any age." The American Academy of Pediatrics and other major medical organizations including the American Medical Association, the American College of Obstetricians and Gynecologists and the World Health Organization all "support giving transgender adolescents access to the health care they need." In 2021, Musk, also the CEO of Tesla , moved his automaker's corporate headquarters from Palo Alto, California, to Austin. SpaceX did not immediately respond to requests for further information including about whether the company would potentially shut down its Hawthorne operations. When Tesla moved its headquarters to Texas, it maintained its Palo Alto office as an "engineering headquarters."
In the GOP veepstakes, Trump again sidelines men of color 2024-07-16 20:25:06+00:00 - It's "always the bridesmaid, never the bride" for some aspiring Republican lawmakers. Former President Donald Trump on Monday selected Ohio Sen. JD Vance as his running mate, forming one of the most extreme — and as my colleague Steve Benen noted, most inexperienced — tickets in modern American history. But let's consider some of the people Trump didn’t pick, in particular the Black and the Latino men who happily mortgaged their dignity and laundered Trump’s racism to remain in consideration as potential VP picks, only to be passed over in favor of a rich, white Yale Law School graduate with significantly less political experience than they have. I’m talking about Florida Sen. Marco Rubio, South Carolina Sen. Tim Scott and Florida Rep. Byron Donalds, who’ve been reduced effectively to token minorities through the process of Trump’s running mate selection. Rubio, of course, had an acrimonious relationship with Trump during the GOP presidential primary in 2016 — one that got so petty that he resorted to mocking Trump’s, uh, hand size. Arguably, that was the moment that Rubio's political career peaked. “Little Marco,” as Trump once called him, has since joined the ranks of the former president’s unwavering supporters, recently defending Trump’s comments about immigrants “poisoning the blood” of the United States as “nothing to do with race” during a Spanish-language interview. Despite being passed over Monday, Rubio wasted no time in declaring his loyalty to the MAGA cause. Scott and Donalds didn’t fare any better. Donalds, who some pundits had suggested could have appealed to Black voters, was willing to distort history for the former president with his claim at a pro-Trump event that Black families were more "together" during the Jim Crow era than in the years that followed. (He later told MSNBC's Joy Reid that “I never said that it was better for Black people in Jim Crow.”) His ahistorical nonsense wasn't enough to earn a spot on the ticket, but Donalds nonetheless threw his support behind Trump-Vance on the opening night of the RNC. Scott, for his part, was criticized for the moment when he embraced Trump in the middle of a speech to tell him how much he loved him. And you can read here about the misguided podcast that Scott launched with other Black Republicans earlier this year in an attempt to sway Black voters in Trump’s favor (despite not mentioning Trump in the first five episodes). Like Rubio and Donalds, Scott got little to nothing in return for that effort but still stuck to the party's script, assuring the mostly white crowd of Republican convention attendees that “America is not a racist country.” One wonders if the three lawmakers have learned their roles in Trump’s Republican Party. Perhaps they can hang their hopes on cabinet positions in a possible future Trump administration. But for the time being, it seems clear Trump doesn’t want them as the face of his movement.
Caitlin Clark and Connor McCaffery have been dating for over a year. Here's a timeline of their relationship. 2024-07-16 20:22:28+00:00 - Connor McCaffery played basketball at the University of Iowa and graduated in 2023. Connor McCaffery started working for the Indiana Pacers after graduating from Iowa. Michael Allio/Icon Sportswire via Getty Images A talented athlete in his own right, McCaffery finished his collegiate basketball career with the second-best assist-to-turnover ratio in NCAA history, Hawkeye Sports reported. The five-time Academic All-Big Ten honoree played in 166 games — the second-most appearances in Iowa program history — and won 111, all under the guidance of head coach Fran McCaffery, Connor's father. After graduating in 2023, McCaffery, now 26, started working for the Indiana Pacers as a team assistant with the ultimate goal of pursuing a career in coaching. He told the Des Moines Register in May 2023, "I'll play dummy defense, run the scout team, help coaches on film stuff, help on video projects if they need, scouting reports if they need." "It's a way in. It's an entry-level job. You've got to work hard and work your way up. That's obviously what I want to do," McCaffery added.
Elon Musk says SpaceX and X headquarters moving to Texas, blames new California transgender law 2024-07-16 20:15:00+00:00 - SpaceX CEO and X owner Elon Musk said Tuesday he will move the headquarters of both companies from California to Texas. Musk vowed the moves in response to Governor Gavin Newsom (D-Calif.) signing a new law on Tuesday that bars school districts in California from requiring parents to be notified of a child’s gender identification change. “This is the final straw. Because of this law and the many others that preceded it, attacking both families and companies, SpaceX will now move its HQ from Hawthorne, California, to Starbase, Texas,” Musk posted on X. He later added that X HQ will also move from San Francisco to Austin. “I did make it clear to Governor Newsom about a year ago that laws of this nature would force families and companies to leave California to protect their children,” he added. In 2022, People magazine reported, Elon Musk’s then 18-year-old daughter was granted permission to legally change her name and gender. She shed the Musk family name and took the maiden name of her mother, Justine Wilson, instead. When asked about his estranged transgender daughter in October 2022, Musk told the Financial Times “Can’t win them all,” and claimed to have good relationships with all his other children. In 2021, Musk, also the CEO of Tesla, moved his automaker’s corporate headquarters from Palo Alto, California, to Austin. SpaceX did not immediately respond to requests for further information. This story first appeared on CNBC.com
Elon Musk says he’s moving SpaceX, X headquarters from California to Texas 2024-07-16 19:51:28+00:00 - SAN FRANCISCO (AP) — Billionaire Elon Musk says he’s moving the headquarters of SpaceX and social media company X to Texas from California. Musk posted on X Tuesday that he plans on moving SpaceX from Hawthorne, California to the company’s rocket launch site dubbed Starbase in Texas. X will move to Austin from San Francisco. He called a new law signed Monday by California Gov. Gavin Newsom that bars school districts from requiring staff to notify parents of their child’s gender identification change the “final straw.” “I did make it clear to Governor Newsom about a year ago that laws of this nature would force families and companies to leave California to protect their children,” Musk wrote. Tesla, where Musk is CEO, moved its corporate headquarters to Austin from Palo Alto, California in 2021. Musk has also said that he has moved his residence from California to Texas, where there is no state personal income tax. SpaceX builds and launches its massive Starship rockets from the southern tip of Texas at Boca Chica Beach, near the Mexican border at a site called Starbase. The company’s smaller Falcon 9 rockets take off from Cape Canaveral, Florida, and Southern California. It’s just below South Padre Island, and about 20 miles from Brownsville.
Plain old bad luck? New Jersey sports betting revenue down 24% at casinos, and 9.5% overall in June 2024-07-16 19:50:26+00:00 - ATLANTIC CITY, N.J. (AP) — New Jersey’s casinos saw their sports betting revenue decline by nearly 24% in June, and sports betting revenue overall in the state declined by 9.5%, according to figures released Tuesday by state gambling regulators. The New Jersey Division of Gaming Enforcement reported that the nine casinos collectively saw their sports betting revenue decline by 23.9% in June compared with a year earlier. When the three horse tracks that take sports bets are included, the overall decline in such revenue for the state was 9.5%. Total gambling revenue in the state, including internet gambling and money won from in-person gamblers, was $491 million, up 7.4%. New Jersey was the state whose court challenge to a federal ban on sports betting in most of the country resulted in a 2018 ruling by the U.S. Supreme Court clearing the way for any state that wants it to offer legal sports betting. Since then, New Jersey has been among the nationwide leaders in sports betting revenue. But in June, according to the New Jersey Division of Gaming Enforcement, sports betting generated $27.1 million in revenue for the casinos after winning bets and other expenses were paid out. With horse tracks included, the total revenue figure was $60 million. “At first glance, a decline of nearly 24% in sports betting revenue for Atlantic City’s casino operators is a bit surprising given recent positive performance from that sector,” said Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City gambling market. But she noted that not all the casinos or racetracks saw declines, adding that the total amount wagered during the month was actually a bit higher than average for June. “It seems likely that the decline in sports betting revenue this June is a function of odds set by the oddsmakers, the bets made by the public, and the outcomes of live events,” she said. “At the end of the day there will always be some variability by nature in gambling activity.” Mark Giannantonio, president of Resorts Casino and of the Casino Association of New Jersey, was among industry officials attributing the decline in sports betting revenue to “mainly poor luck” in June. Resorts Digital, his casino’s online arm affiliated with the DraftKings sportsbook, was down 43.3% in June, to $14.3 million in sports betting revenue. The physical Resorts casino saw its sports betting revenue decline by 34% to just over $99,000. The Ocean Casino swung from $82,000 in sports betting revenue last June to a loss of $18,725 this June. And Monmouth Park Racetrack, near the Jersey Shore in Oceanport, saw a 37% decline in sports betting, to $904,000. Other casinos saw better-than-expected sports betting revenue in June, including Bally’s, which took in almost $1.9 million, up from $351,000 a year earlier, an increase of over 440%. Hard Rock nearly doubled its sports betting revenue in June, to $4.6 million. In terms of overall gambling revenue, Borgata won $110 million, up 5.7%; Golden Nugget won $64.2 million, up nearly 20%; Hard Rock won $63.7 million, up 24.4%; Ocean won $39.6 million, down 0.4%; Tropicana won $38.5 million, up 30.7%; Bally’s won $24.6 million, up over 27%; Caesars won $19.2 million, down over 11%; Harrah’s won $19.1 million, down 8.8%, and Resorts won $15 million, down 2.3%. But those figures include internet and sports betting money, much of which must be shared with parties including sports books and technology platforms, and is not solely for the casinos to keep. For that reason, the casinos consider money won from in-person gamblers to be their core business. Only two casinos — Ocean, and Hard Rock — won more from in-person gamblers this June than they did in June 2019, before the coronavirus pandemic hit. This remains a source of continuing concern for Atlantic City’s casinos and their parent companies. ___ This story has been corrected to show that the sports betting revenue decline was nearly 24% at casinos, but only 9.5% when horse tracks are included.
Republican National Convention becomes must-watch TV after Trump assassination attempt 2024-07-16 19:48:03+00:00 - It has been decades since either a Republican or a Democratic national convention was must-watch TV, especially for all four nights. But the assassination attempt on Donald Trump over the weekend has changed all of that. As the country continues to process the shooting and its aftermath, volunteers, staffers and delegates are milling around the convention floor in Milwaukee, while politicians and candidates jostle for attention with short speeches. The convention's very banality is somehow surreal. It's still early, but so far we can confidently note a few things. First, this is Trump's convention, for the first time. In 2016, he was still learning the ropes, and the Never Trump forces were strong enough that Texas Sen. Ted Cruz didn't actually endorse him in his convention speech. The 2020 convention was truncated by the pandemic. But everything from the rollout of Ohio Sen. JD Vance as running mate to the abbreviated platform to the chants of "Fight! Fight! Fight!" by conventiongoers has shown that this is Trump's party, and this convention is his coronation. On Sunday, Trump told New York Post columnist Michael Goodwin that he planned to rewrite his convention speech on Thursday, saying he wanted to "try to unite our country." Trump has said similar things in the past. Remember when he said he would be "so presidential" if he won in 2016? But a near-death experience can change your perspective. Will he give a toned-down speech Thursday that might win back some of the independents he lost in 2020? Or will he lean into the rhetoric of fighting? Or something else entirely? Whatever happens, Thursday's speech will be one to watch. Sign up for MSNBC’s new How to Win 2024 newsletter and get election insights like this delivered to your inbox weekly.
Widow of man killed at Trump rally in Pennsylvania says she declined to speak with Biden 2024-07-16 19:32:40+00:00 - Helen Comperatore, whose husband was killed Saturday when a gunman tried to assassinate Donald Trump at a campaign rally in Pennsylvania, said she declined to speak to President Joe Biden when he called her family afterward. “I didn’t want to talk to him,” she told the New York Post on Monday. “My husband was a devout Republican and he would not have wanted me to talk to him.” She said her husband, Corey Comperatore, was a Trump supporter who was excited to be at the rally with her and their two daughters. “I support Trump. That’s who I’m voting for, but I don’t have ill will towards Biden,” she said. “He didn’t do anything bad to my husband. A 20-year-old despicable kid did.” NBC News reported Tuesday that Trump has reached out and spoken with a member of the Comperatore family. Corey Comperatore. via Facebook Corey Comperatore, a former fire chief, was 50. Two other men, David Dutch, 57, and James Copenhaver, 74, were critically injured in the assassination attempt but are now in stable condition. On Sunday, Trump wrote in part on Truth Social: “Our love goes out to the other victims and their families. We pray for the recovery of those who were wounded, and hold in our hearts the memory of the citizen who was so horribly killed.” Helen Comperatore told the New York Post that her husband died while shielding his family and that his last words were “Get down!” Corey Comperatore died “protecting his family from the bullets that were being fired,” Biden said at a White House news conference Sunday. “And he lost his life. God love him.” On Tuesday, House lawmakers introduced a bipartisan resolution to honor Corey Comperatore and denounce political violence.
Gold jumps to record above $2,460 an ounce on hopes Fed will soon cut rates 2024-07-16 19:25:00+00:00 - Gold jumped to a record Tuesday as rising expectations of a September interest rate cut bolstered demand for bullion. Gold futures advanced 1.7% to $2,471.1, topping the previous high of $2,454.20 reached May 20. Spot gold jumped 1.8% to $2,465.95 during the session, which is an all-time high according to LSEG data going back to 1968 that has not been adjusted for inflation. Gold prices hit all-time highs earlier this year before pulling back as the prospect of higher-for-longer interest rates dampened investor enthusiasm for the precious metal. But interest in the asset has grown after June’s softer inflation data and some recently dovish comments from Federal Reserve Chair Jerome Powell combined to raise the odds of rate cuts coming this year. Markets are pricing in 100% odds of a rate cut in September now, according to futures trading tracked by the CME FedWatch tool. A weakening dollar has also supported demand for bullion. On Tuesday, the U.S. greenback rebounded after falling to a five-week low. “Interest to ‘buy-the-dip’ remained prevalent among investors amid strong sentiment towards gold, which is likely why the market was quick to rally on soft U.S. data prints and dovish Fed expectations,” UBS’ strategist Joni Teves said in a note on Friday. “With the market sitting just above the psychological $2400 level, we think risks are skewed to the upside,” Teves continued. “We think positioning remains lean and there’s space for investors to build gold exposure.” Gold rallied to record highs in the first half of 2024 on the back of a multi-year spike in demand from central banks around the world, as mounting global geopolitical risks boosted interest in the safe haven asset. According to UBS, central bank buying of bullion is the highest it’s been since the late 1960s. “With some central banks now questioning the safety of holding USD- and EUR-denominated assets (following the financial and debt crises and more recently the war in Ukraine), many are choosing to instead fill their reserves with gold,” read a note last month from UBS. Gold mining stocks also advanced on Tuesday. The VanEck Gold Miners ETF gained 3%, on pace for a fifth winning day in six. The U.S.-listed shares of Harmony Gold and Gold Fields rose 16% and 6%, respectively.
Titanic shipyard owner Harland & Wolff awaits news of funding lifeline 2024-07-16 19:24:00+00:00 - Harland & Wolff, the owner of the Belfast shipyard that built the Titanic, has insisted that it is still awaiting a government decision on a £200m intervention despite signs that Labour is due to reject the financial lifeline. The company is presenting an early test of the Labour government’s industrial policy, with 1,500 workers fearful the company is running out of time to secure funding needed to make it ready to build three warships for the Royal Navy. Harland & Wolff (H&W) was forced to suspend its London-listed shares a fortnight ago, and it has missed two deadlines to file audited accounts, raising questions over its finances and its ability to fulfil a £1.6bn contract to build the three fleet solid support ships that will carry supplies such as ammunition and food to the navy’s aircraft carriers. The government, under the Conservative party, had provisionally agreed a deal to 100% underwrite a £200m loan by a consortium of lenders to Harland & Wolff to allow it to refinance its debts. The company on Tuesday said it had reduced its request for the guarantee from 100% to 80%, and that it had presented legal opinions showing that a guarantee would not violate state aid rules. However, the Financial Times reported that Labour had decided that giving the guarantee would be an inappropriate use of government funds, citing an unnamed Whitehall source saying: “Giving the loan guarantee would be deeply irresponsible.” View image in fullscreen Harland & Wolff’s construction sites include Methil (pictured) and Arnish in Scotland, Appledore in Devon, and Belfast, where 1,500 people are employed. Photograph: Andrew Milligan/PA The company has been investing heavily to recruit a workforce of 1,500 across the Belfast site, plus yards at Appledore in Devon, and Methil and Arnish in Scotland. It plans to split work on the fleet solid support vessels across the yards, while working in a consortium with Spain’s state-owned Navantia. H&W said that the former chancellor Jeremy Hunt approved the loan guarantee in principle in December. The spokesperson said the company was informed in March that officials were concerned about the fact that the government was underwriting the full value of the loan. A 100% guarantee would be an unusual step that would leave the taxpayer liable for the full amount if the company failed. “Harland & Wolff is aware that the new ministers are in the process of being briefed by civil servants on our case,” the spokesperson said. “We have proposed a reworked deal at the standard 80% guaranteed level, that has been awarded to hundreds of other companies, and look forward to hearing the government’s response. “With the new government having been in office for just over a week, it will take time to work through the process. As yet, we have not been informed of any decision, and we stand ready to meet with the new government at their convenience.” Failure to obtain the guarantee would be a major blow to H&W, which agreed the deal over a year ago with UK Export Finance, a ministerial department. If a government guarantee for the loan is not forthcoming, the company would be forced to ask private lenders for money at standard market rates to refinance its £191m in liabilities. 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 company’s main priority is refinancing £91m in loans from Riverstone Credit Management, a US private investor that is charging an interest rate of more than 14%. Payment is due at the end of this year. View image in fullscreen RMS Titanic was fitted out at the Harland & Wolff shipyard, Belfast, 1911-1912. Photograph: Pictures from History/Universal Images Group/Getty Images H&W held a board meeting on Tuesday to discuss its finances, according to two sources. However, it has not given workers any updates on the talks, and management of the main shipyard in Belfast has not been briefed, leaving workers unclear over the future of their jobs. “The longer this goes on, the more concern there is,” said a person involved in talks. Labour has taken power with the future of several other UK industrial sites in the balance, including Belfast’s Short Brothers factory, which is being sold by Spirit Aerosystems to Airbus, and the Port Talbot steelworks in south Wales, where talks between the new government and the owner Tata Steel over decarbonisation and jobs are ongoing.
Why the leaked phone call between Trump and RFK Jr. matters 2024-07-16 19:23:08+00:00 - When reports emerged that Donald Trump had spoken to independent presidential candidate Robert F. Kennedy Jr., it was only natural to wonder what the two conspiracy theorists had to say to one another. As it turns out, the public received an unexpected peek behind the curtain. NBC News reported: Robert F. Kennedy Jr. apologized this morning after his son posted a video on X showing a call between Kennedy and Trump. Bobby Kennedy III wrote in his post that the call took place Sunday, the day after the assassination attempt on Trump. In the video, Trump can be heard talking about children’s vaccines and the gunshot he experienced at the Pennsylvania rally Saturday. The candidate’s son took down the clip he posted to social media, but not before it was captured and republished. Part of what makes the video notable was the apparent suggestion that Trump and Kennedy are, or at least should be, on the same page politically. “I would love you to do something,” the Republican could be heard saying. “And I think it’ll be so good for you and so big for you. And we’re going to win.” Kennedy apparently agreed, replying, “Yeah.” This did not sound like a conversation between two rival candidates, competing for the same office. Rather, it came across as a nice, cooperative chat — which probably won’t help the chatter about Kennedy deliberately playing the role of spoiler candidate. Also notable was Trump’s anti-vaccine rhetoric. “When you feed a baby, Bobby, a vaccination that is like 38 different vaccines, and it looks like it’s meant for a horse, not a, you know, 10-pound or 20-pound baby,” the Republican said. “And then you see the baby all of a sudden starting to change radically. I’ve seen it too many times. And then you hear that it doesn’t have an impact, right? But you and I talked about that a long time ago.” In apparent reference to vaccines, Trump went on tell Kennedy, whose known for his anti-vaccine rhetoric, “I agree with you man, something’s wrong with that whole system.” The best-case scenario is that Trump knew what he was saying was nonsense, but he made the comments anyway in the hopes of currying favor with someone whose endorsement he was seeking. From a public-health perspective, the worst-case scenario is that Trump actually believes what he said — echoing similar earlier comments — and his prospective second-term administration would govern with such beliefs in mind. Postscript: The fact that Kennedy had Trump on speaker has led to speculation that the independent candidate wanted their conversation to be recorded. That's possible, though it's also worth noting that Kennedy has said he's afraid to keep cellphones by his head.
A wind turbine is damaged off Nantucket Island. Searchers are combing beaches for debris 2024-07-16 19:14:08+00:00 - NANTUCKET, Mass. (AP) — Offshore wind developers have sent teams to search for debris on the beaches of Nantucket Island, a popular summer tourist destination, after one of their turbine blades suffered damage. Vineyard Wind said Tuesday it is mobilizing teams on Nantucket to recover debris on south-facing beaches. The development said a “blade damage incident” took place Saturday. Vineyard Wind said it’s also working with the U.S. Coast Guard to maintain a safety zone of 500 meters (1,640 feet) around the affected offshore turbine. It said that the debris consists of nontoxic fiberglass fragments and that any washing ashore will be pieces of one square foot or less. “Vineyard Wind is fully committed to a swift and safe recovery of all debris, with an unwavering focus on community safety and environmental protection,” it said in a statement. Vineyard Wind is a joint venture between Avangrid and Copenhagen Infrastructure Partners and said no personnel or third parties were near the turbine when the damage occurred. It said in a statement that blade manufacturer and installation contractor GE “will now be conducting the analysis into the root cause of the incident.” The development’s massive wind turbines began sending electricity to the grid this past winter. It said it will deploy trained individuals to collect the debris for the next several days.
EU Nations Divided Over Tariffs On Chinese EVs; Commission Considers Compromise For BMW And Volkswagen Models: Report - Volkswagen (OTC:VWAGY) 2024-07-16 19:12:00+00:00 - Loading... Loading... European Union governments have expressed differing opinions on the imposition of EU tariffs on imports of electric vehicles (EVs) manufactured in China, as indicated in a non-binding but influential vote. The European Commission, responsible for the EU’s trade policy, has imposed provisional tariffs of up to 37.6% on electric vehicles imported from China and has sought input from EU member states in a consultative vote. Twelve EU members endorsed the tariffs, four opposed them, and eleven abstained from voting, Reuters reported, citing people familiar with the discussions. Also Read: Chinese EV Thrive Despite Tariff Hikes, Foreign Rivals Struggle The Commission is likely to consider these votes when determining whether to proceed with definitive duties in what is the EU’s most prominent trade case to date. France, Italy, and Spain supported the tariffs, whereas Germany, Finland, and Sweden abstained. A German source told Reuters that their abstention was in the spirit of “critical solidarity” with the Commission. An official from the Finnish embassy expressed doubts about the measure aligning with EU interests, noting not all European car manufacturers supported it. Swedish trade minister Johan Forssell emphasized the importance of dialogue between the Commission and China to resolve the issue. Beijing has warned of extensive retaliatory measures. The Commission plans to extend its investigation for three months before deciding on proposing definitive duties, typically lasting five years, Reuters added. Any proposed tariffs would require a binding vote among EU members, and could be blocked if 15 member countries representing 65% of the EU population vote against. As a gesture of compromise, the European Commission has indicated potential consideration for a reduced tariff on BMW‘s BMWYY China-made electric Mini and Volkswagen AG’s VLKAF VWAGY Cupra Tavascan. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo by Shuttershock Read Next:
What's Going On With Walmart Shares Today? - Fidelity MSCI COnsumer Staples Index ETF (ARCA:FSTA), Walmart (NYSE:WMT) 2024-07-16 19:03:00+00:00 - Loading... Loading... Walmart Inc. WMT is trading at $70.14 per share at last check Tuesday, up 0.73%. Evercore ISI Group analyst Greg Melich maintains Walmart an Outperform and raises the price target from $73 to $74. According to Benzinga Pro, WMT stock has gained over 35% in the past year. Investors can gain exposure to the stock via SPDR Select Sector Fund XLP and Fidelity MSCI COnsumer Staples Index ETF FSTA. The workers’ union at Walmart in Chile canceled a strike on Monday, extending the current labor agreement with the company by another 18 months, Reuters reported. The Chinese Ministry of Commerce recently announced that Vice Minister Wang Shouwen held talks with Walmart CEO Kathryn McLay, discussing China-U.S. economic ties, Walmart’s operations in China, and related matters, reported Reuters. Also Read: Chinese EV Thrive Despite Tariff Hikes, Foreign Rivals Struggle Walmart relies heavily on imports from China for its goods. Meanwhile, Walmart marked the grand opening of a new 730,000-square-foot perishable distribution center (PDC) in Lancaster, Texas with celebrations attended by Walmart associates, local officials, and community members. Situated 15 miles south of Dallas, the facility specializes in receiving and handling fresh produce, eggs, dairy, flowers, and frozen goods destined for nearby Walmart stores. This new PDC represents Walmart’s second facility in Lancaster, following the next-generation fulfillment center that commenced operations in 2023. Price Action: WMT shares are trading higher by 0.8% to $70.18 at last check Tuesday. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Read Next: