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Tesla stock pops 6%, extends rally as 'Mojo back for Musk' after latest delivery data 2024-07-04 01:10:00+00:00 - Tesla stock (TSLA) extended gains on Wednesday, rising more than 6% after jumping 10% on Tuesday as Wall Street weighed in on the electric carmaker's quarterly vehicle delivery results, which topped expectations. Tesla stock has now gained more than 70% since its most recent low in late April. Tesla this week announced it produced approximately 411,000 vehicles and delivered nearly 444,000 cars during the second quarter, beating consensus estimates and marking an increase from the first quarter. And despite a year-over-year drop in deliveries, analysts were bullish on the report and pointed to signs the EV industry may be holding up better than expected. "We continue to see scope for improving sentiment in Tesla shares as well as broader EV sentiment as compared with the negative sentiment we have seen over the past ~6 months," Citi analysts wrote in a note following the results on Tuesday. Dan Ives at Wedbush Securities said in a note the company's deliveries marked a "major turning point" in the "Tesla bull case story." "The key for Tesla's stock is the Street recognizing that Tesla is the most undervalued AI play in the market," Ives wrote, adding the "Mojo [is] back for Musk" as he raised his price target on the stock to $300 from $275 with a new bull case of $400 for 2025. Ives added the company's robotaxi event on Aug. 8 "will lay the yellow brick road to [full self-driving] and an autonomous future." Morgan Stanley's Adam Jonas called Tesla's results the "1st Positive Surprise of the Year," noting the automaker delivered 33,000 units more than it produced in the second quarter. The analyst also highlighted a "show stealer" from its release — Tesla's energy storage business, which posted its highest quarterly deployment yet. The business, which includes utility-scale Megapacks, has been growing faster than the EV segment, with a record profit margin. "Tesla started its Independence Day celebration early with a positive 2Q delivery beat, 33k lower inventory and a large storage beat to remind investors it's not just an auto company," wrote Jonas. His team has an Overweight rating on the stock with a $310 price target. Tesla has faced stiff competition abroad from its Chinese counterparts and some waning demand for EVs in the US. In an effort to reduce costs, the company embarked on a plan to cut more than 10% of its global staff earlier this year in what some analysts saw as a signal of tough times ahead. Story continues During Tesla's shareholder meeting last month CEO Elon Musk confirmed that near-term demand and sales would still struggle somewhat as the industry goes through a transitionary period. The company also slashed prices last year to spur sales. "There is still the risk of further price cuts ahead, and there [are] still further questions on fundamentals, we are still facing somewhat of an EV winter on demand," Barclays senior equity research analyst Dan Levy told Yahoo Finance on Tuesday. "So, good result. But I think the fundamental macro backdrop is still the same." Levy has an Equal Weight rating on the stock and a $180 price target. Unsold 2023 Model X sports-utility vehicles sit at a Tesla dealership, June 18, 2023, in Littleton, Colo. (AP Photo/David Zalubowski) (ASSOCIATED PRESS) Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for the latest stock market news and in-depth analysis, including events that move stocks Read the latest financial and business news from Yahoo Finance

Microsoft reaches settlement with California over alleged employee discrimination 2024-07-04 00:53:00+00:00 - Microsoft (MSFT) has reached a $14.4 million settlement with California’s Civil Rights Department over claims the company discriminated against employees who were on parental and disability leave. The department announced today that the settlement, which is subject to court approval, means Microsoft has pledged to take numerous steps to prevent future employment abuses. “By allegedly penalizing employees for taking protected forms of leave, Microsoft failed to support workers when they needed to care for themselves or their families,” Kevin Kish, director of California’s Civil Rights Department, said in a statement. “The settlement announced today will provide direct relief to impacted workers and safeguard against future discrimination at the company.” The complaint said most of those affected have been women and disabled employees. It alleges that employees who used protected leave were given lower bonuses and unfavorable performance reviews. The agency said that Microsoft “failed to take sufficient action to prevent discrimination from occurring, altering the career trajectory of women, people with disabilities and other employees who worked at the company, ultimately leaving them behind.” According to legal filings, a three-year investigation by the agency found “managers have commented negatively on employees’ use of protected leave” and “Microsoft’s workplace culture discourages employees from using protected leave.” In an emailed statement to Yahoo Finance, a Microsoft spokesperson said the company "is committed to an environment that empowers our employees to take leave when needed and provides the flexibility and support necessary for them to thrive professionally and personally. While we believe the agency’s allegations are inaccurate, we will continue to listen, learn, and support our employees.” Microsoft Chief Executive Satya Nadella speaks at the company's annual developer conference in Seattle, Washington, U.S., May 21, 2024. REUTERS/Max Cherney (REUTERS / Reuters) The complaint said impacted employees have suffered economic injuries such as lost earnings, lost future employment opportunities, plus other non-economic damages. Impacted Microsoft workers employed between May 2017 to when the court enters the judgment will be eligible for compensation from a $14.2 million settlement fund. The remainder of the settlement will go toward the agency’s enforcement efforts. The software giant, headquartered in Redmond, Wash., employs 6,700 workers in California and approximately 221,000 worldwide. As a leader in the artificial intelligence boom, its stock has jumped roughly 35% in the past year. Under the proposed settlement, Microsoft will retain an independent consultant to make recommendations about the company’s practices for workers' annual rewards and promotions. It'll also ensure its employees know how to raise complaints about discrimination. The company will be required to report its findings to the department. Story continues California’s civil rights agency is cracking down on Big Tech. Last month it settled a $15 million sex-based discrimination lawsuit against Snap (SNAP). The social media company denied the allegations in the suit but said it agreed to settle to avoid a legal battle. Last December, a historic $54 million settlement was announced in a years-long discrimination lawsuit against video gaming firm Activision Blizzard, which was acquired by Microsoft that October. At the time, Activision said in a statement: "We appreciate the importance of the issues addressed in this agreement and we are dedicated to fully implementing all the new obligations we have assumed as part of it." Microsoft is facing legal challenges on other fronts. Last week, the company and OpenAI were sued in Manhattan’s federal court by the Center for Investigative Reporting over alleged copyright infringement. The nonprofit newsroom raised concerns over Microsoft’s significant investment in the ChatGPT maker. Microsoft is also facing a steep fine after the European Commission, the European Union's antitrust authority, announced last month that the company breached antitrust laws by bundling Teams with its other applications for businesses. The company could be fined up to 10% of its global revenue, which totaled $211 billion in 2023. Microsoft President Brad Smith said in a statement, "having unbundled Teams and taken initial interoperability steps, we appreciate the additional clarity provided today and will work to find solutions to address the Commission's remaining concerns." Yasmin Khorram is a Senior Reporter at Yahoo Finance. Follow Yasmin on Twitter/X @YasminKhorram and on LinkedIn. Send newsworthy tips to Yasmin: yasmin.khorram@yahooinc.com Click here for the latest technology news that will impact the stock market Read the latest financial and business news from Yahoo Finance

2 Millionaire-Maker Growth Stocks 2024-07-04 00:51:00+00:00 - Many stocks have minted millionaires over time, depending on how much they started with. Obviously, it's a lot easier to turn $500,000 into $1 million than starting from $1,000. You can still get there if you don't have $500,000, though. If you invest in a group of reliable growth stocks and let your portfolio grow over many years, you can definitely become a millionaire in due time. Is it that simple? It could be. The first step is choosing the right stocks. MercadoLibre (NASDAQ: MELI) and On Holding (NYSE: ONON) are two great choices. 1. MercadoLibre: The power of e-commerce plus fintech MercadoLibre is a powerhouse company operating in 18 Latin American countries. Its core business is an e-commerce platform similar to Amazon, but it has a newer fintech business that's exploding. The e-commerce business is riding along smoothly. MercadoLibre's operating region has a population of more than 500 million, more than the U.S., but is underpenetrated in digital shopping. MercadoLibre is the dominant e-commerce player in the region, and it's enjoying organic growth opportunities as it widens its net and captures market share. Gross merchandise volume (GMV) is increasing and even accelerating despite continued high inflation across Latin America. The pressure is high in Argentina, which has been MercadoLibre's main market for years. With strength in its other large markets (Brazil and Mexico) and overall, it's still reporting strong growth. Overall GMV rose 71% (currency neutral) year over year in the 2024 first quarter. Management has been improving the segment's logistics and speeding up deliveries, and it also recently launched its Meli+ membership program. These initiatives are leading to higher loyalty and more sales. Engagement is increasing across a broader range of categories, and purchase frequency is on the rise. The fintech segment, though, is where the fastest growth is happening. Total payment volume (TPV) increased 86% year over year in the first quarter, and the credit portfolio grew $4.4 billion, a 46% increase over last year. Monthly active users (MAUs) also increased 38% in the quarter. It has the most MAUs of any fintech company in all of its markets, except Brazil, where it has the second-place spot. MercadoLibre stock trades at a price-to-sales ratio of 5 and forward 1-year price-to-earnings ratio of 35. That's a bargain valuation for a stock of MercadoLibre's caliber. It's still in its early innings and can supercharge an investment portfolio. 2. On Holding: Challenging the activewear giants If you've seen what Nike and Lululemon Athletica stocks have been able to do for shareholders over time, you might be interested in hearing more about challenger company On Holding. On is even more premium than Lululemon, but it targets the superior athlete rather than the luxury buyer, which opens it up to a broad range of economic demographics. It's developed a loyal following of customers who prefer its unique designs -- and it's just getting started. Story continues On is known for its CloudTec sneakers, which feature an innovative sole that's supposed to offer extreme comfort. It also offers a large range of footwear for various types of sports, all of which have the On sole, and a range of lifestyle footwear and athletic apparel. The Swiss-based company has been reporting incredible growth, but it's been decelerating in the inflationary environment. Sales increased 29% year over year in the 2024 first quarter (currency neutral), led by a 49% increase in its direct-to-consumer business. Direct-to-consumer sales accounted for 38% of the total, and the expansion in its overall contribution is helping the already high margins. The high margins are also supported by On's premium pricing. Gross margin widened to an industry-leading 59.7%, and that's trickling down to the bottom line -- net income more than doubled in the quarter over last year. On is still relatively unknown in almost all its markets, including Switzerland, where, according to its internal data, it has only 49% brand penetration. That's a powerful combination of high loyalty and huge opportunity to establish brand presence, which could lead to incredible long-term gains for investors. On's stock trades at a high price-to-sales ratio of more than 8 but a reasonable forward 1-year price-to-earnings ratio of 34. It's not quite bargain territory, but it's a fitting valuation for a high-growth stock with tons of opportunity. If you invest today as part of a growth portfolio, On stock could help you create a millionaire-maker portfolio over time. 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 $22,525 !* Apple: if you invested $1,000 when we doubled down in 2008, you’d have $41,621 !* Netflix: if you invested $1,000 when we doubled down in 2004, you’d have $366,492!* 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 2, 2024 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Jennifer Saibil has positions in MercadoLibre. The Motley Fool has positions in and recommends Amazon, Lululemon Athletica, MercadoLibre, and Nike. The Motley Fool recommends On Holding and recommends the following options: long January 2025 $47.50 calls on Nike. The Motley Fool has a disclosure policy. 2 Millionaire-Maker Growth Stocks was originally published by The Motley Fool

Judge Backs Challenge to F.T.C.’s Noncompete Ban, at Least for Now 2024-07-03 22:22:18+00:00 - A federal judge on Wednesday backed an initial legal challenge to the Federal Trade Commission’s ban on noncompete agreements, which is scheduled to take effect in September. Judge Ada Brown granted an injunction requested by several plaintiffs, saying the ban cannot be enforced against them pending a final ruling. But while the ruling is preliminary, she said that the F.T.C. lacked “substantive rule-making authority” with respect to unfair methods of competition and that the plaintiffs were “likely to succeed on the merits” of their challenge. Judge Brown, of U.S. District Court for the Northern District of Texas, said she expected to issue a final decision by the end of August.

Replacing Biden with anyone but Harris would be a real headache for Democrats 2024-07-03 21:47:15+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 Democrats would have a practical and political nightmare on their hands if President Joe Biden drops out and they decide to push Vice President Kamala Harris to the sidelines instead of the top of the ticket. On Wednesday, Biden and Harris jointly proclaimed to campaign aides that they would press on in the face of growing criticism following Biden's disastrous debate, according to the Associated Press. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. "I am running. I am the leader of the Democratic Party. No one is pushing me out," he said, according to the AP. No one, least of all Biden's running mate, can be seen publicly pressuring Biden to give up now. Advertisement Harris gets the money — probably. In the event that Biden does call it quits, the focus will quickly turn to Harris. She is by far the best-positioned of Biden's potential successors to take over. Most importantly, according to campaign finance experts, she would have the easiest path to accessing the Biden campaign's $240 million war chest. While nobody is quite sure what would happen to the millions should Biden step aside, Harris would probably control the cash — but only if she became the nominee. "If Harris succeeded Biden as the presidential nominee, she would maintain access to all the funds in the campaign committee and could use them to advance her presidential candidacy," Saurav Ghosh, the director for federal campaign finance reform at the Campaign Legal Center, told Business Insider in an email. That's because she shares a campaign committee with Biden, Ghosh said. Given her initial involvement with the Biden money — and the presence of her name on FEC filings related to his candidacy — she is likely the only one who could use the money without much issue. Advertisement Yet the same rules wouldn't apply if Harris remained the vice presidential candidate or dropped off the ticket altogether. According to Ghosh, federal contribution limits stipulate that candidate-to-candidate transfers don't exceed $2,000 per election. While the Biden camp could convert the money into a political action committee if someone else was the nominee, there's a catch — PACs can only donate a maximum of $3,300 per election to a different candidate. Related stories "So in either case, there's no legal way for Biden to transfer to a new candidate the $90 million dollars that his campaign currently has on hand," Ghosh told Business Insider. In a massive return-to-sender effort, the Biden campaign could also refund donations and donors could redirect their money toward the new candidate, campaign finance experts told NBC. Or, in yet another version of the future, the Biden campaign could transfer the funds to the national party. Advertisement All things considered, Harris soaring to the top of the ticket if Biden steps aside seems like the simplest solution with regards to the cold hard cash. But money, of course, is not the only question — though many heads are turning in Harris' direction, longstanding questions about her viability as a candidate remain. Harris has major support among the Democratic Party's core. Pushing Harris aside could risk a firestorm. The vice president has repeatedly declared that she's standing behind Biden, but already, influential voices in the party are lining up behind her. Rep. James Clyburn of South Carolina, whose backing helped Biden win the state's 2020 primary, has said he would want Harris if Biden drops out. "We should do everything we can to bolster her, whether it's in second place or the top of the ticket," Clyburn said on MSNBC on Tuesday. Advertisement In Washington, where the optics are never far out of sight, it would be impossible to ignore passing over the first female vice president for a man, or the first Black vice president for a white candidate. Black voters remain the core of the modern Democratic Party. No single group is a monolith, but none of the major Biden challengers come close to Harris' support in the Black community. According to a recent Economist-YouGov poll, 66% of Black voters view Harris favorably. In comparison, only 47% of Black voters view California Gov. Gavin Newsom favorably; slightly fewer view Michigan Gov. Gretchen Whitmer in the same light. The same survey found that voters still don't know enough about Whitmer to have an opinion about her, underlining another potential headache. Harris is one of the most-known politicians in the country. Any potential replacement will likely need to introduce themselves to the American people and on the national stage. This doesn't mean Harris has every advantage. Her notoriety comes with the White House's baggage. Republicans would likely tag her with the same attacks on the economy and immigration that they've used against Biden. Unlike a potential replacement outside the beltway, Harris would struggle to show any major daylight with the president. Advertisement Already, Republicans are preparing for a potential Harris bid should she get the nomination and, with it, the campaign money. On Wednesday, the Republican National Committee released a digital ad calling her the "enabler in chief" and blaming her for chaos at the border. Against ominous music, the ad asks, "Is this who we want to be president?" It seems the Democratic Party, and its donors, have to answer that question, too.

You Tested Positive for Covid. Can You Still Travel? 2024-07-03 21:42:11.036000+00:00 - As new coronavirus variants gain traction across the United States, summer travelers are facing a familiar and tiresome question: How will the ever-mutating virus affect travel plans? In light of updated guidelines from the Centers for Disease Control and Prevention, the answers may be slightly different from those in previous years. Here’s what to know about traveling this summer if you’re worried about — or think you might have — Covid-19. What’s going on with Covid? Recent C.D.C. data show that Covid infections are rising or most likely rising in more than 40 states. Hospitalization rates and deaths, while low compared with the peaks seen in previous years, are also on the rise.

Experts are racing to contain 'the most dangerous' monkeypox virus yet before it causes a global outbreak 2024-07-03 21:28:57+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 A deadly and fast-spreading new strain of mpox, the disease caused by the monkeypox virus, has global health officials ringing alarm bells. The new virus is "undoubtedly the most dangerous of all the known strains of mpox," John Claude Udahemuka, a lecturer at the University of Rwanda, said in a press briefing on June 25. He said the virus has caused miscarriages and blindness. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. An earlier, milder form of mpox — called clade IIb — circulated worldwide in 2022, ultimately infecting more than 32,000 people in the US and killing 58 of them. It prompted the World Health Organization to declare a public health emergency, which ended last year. The new virus is called clade Ib, since it's a mutation of an even earlier form of mpox. It first appeared in a remote region of the Democratic Republic of the Congo in September and has spread to towns along the Rwanda border, near Burundi and Uganda. Advertisement The new clade Ib virus could cause a global outbreak, experts fear, though they stopped short of warning of a pandemic. "The pandemic question is difficult," Trudie Lang, director of the Global Health Network at Oxford University, said in the briefing. Related stories "I think we need to be really vigilant now and move to try and contain this as quickly as possible in this region," she added. "There's definitely the opportunity for this to get on an airplane." The new mpox strain spreads easily Mpox spreads through close contact, especially skin-to-skin contact. It can cause flu-like symptoms and a painful or itchy rash that develops into puss-filled blisters, lesions, and eventually scabs. Advertisement The palms of a monkeypox patient in the Democratic Republic of Congo. Centers for Disease Control and Prevention Previous strains of the virus have had limited transmission abilities. The clade I virus that's long circulated in the DRC has been mostly associated with spread through families and within households, Land said. The clade IIb virus that went global was mostly sexually transmitted and mostly affected men who have sex with men. The new clade Ib strain seems to do it all. It began spreading through sexual transmission, via the local sex work industry, according to the researchers. However, they said the new virus has also spread within households, between mothers and their children, and there have even been cases of person-to-person spread outside households and without sexual contact. That's "incredibly worrying," Lang said. That's because it has more opportunities to spread than previous strains did. Advertisement The clade I form of the virus, from which the new strain has emerged, is also more deadly than clade II. According to WHO, some outbreaks have killed up to 10% of sick people. Researchers only see 'the tip of the iceberg' It's not yet clear just how deadly the new clade Ib virus is, because researchers aren't sure how many cases there are. Leandre Murhula Masirika, a research coordinator in the local DRC health department, said in the briefing that they had identified more than 600 cases so far. "These are the severe cases that make it to hospital, so this will be the tip of the iceberg," Lang said. Advertisement The WHO's technical lead for mpox, Rosamund Lewis, also raised the alarm last week, saying "There is a critical need to address the recent surge in mpox cases in Africa," according to Reuters. The researchers said they need to better understand the virus to identify the right safety measures and vaccines to contain its spread. "We need to first carry out studies of serology and immunology in order to see what kind of vaccination we can propose," Murhula Masirika said. He added that, in the meantime, he wants to give the smallpox vaccine to local sex workers and healthcare workers in hopes that it will confer some immunity to mpox.

GM fined nearly $146 million for excess emissions from 5.9 million vehicles 2024-07-03 21:28:00+00:00 - New EPA vehicle standards aimed at cutting carbon emissions New EPA vehicle standards aimed at cutting carbon emissions 02:15 General Motors will pay a penalty of almost $146 million and forfeit emissions credits to settle allegations that nearly 6 million of its vehicles released more pollution than the automaker reported, federal officials said in a statement on Wednesday. The Environmental Protection Agency found certain 2012-2018 model year GM vehicles were emitting more than 10% higher carbon dioxide on average than first claimed in the company's compliance reports, the EPA stated. The impacted vehicles include about 4.6 million full-size pickup and sport-utility vehicles and roughly 1.3 million mid-size SUVs, such as Chevrolet Equinox, Tahoe and Silverado models. "EPA's vehicle standards depend on strong oversight in order to deliver public health benefits in the real world," EPA Administrator Michael Regan said in the statement. "Our investigation has achieved accountability and upholds an important program that's reducing air pollution and protecting communities across the country." GM denied any wrongdoing and said it had complied with all pollution and mileage certification rules. "GM remains committed to reducing auto emissions and working toward achieving the administration's fleet electrification goals," the company said in a statement. GM agreed to a fine of $145.8 million to resolve fuel-efficiency compliance issues resulting from the EPA's investigation, a spokesperson for the National Highway Traffic Safety Administration said. The automaker will also cancel 50 million metric tons of greenhouse gas credits from the EPA, along with about 30.6 million gas mileage credits from the NHTSA, according to the agencies. The excess emissions were detected as part of mandatory testing designed to make sure vehicles are not violating federal tailpipe standards. Tougher vehicle emission standards The White House in March finalized the toughest limits yet on climate-warming emissions from passenger cars and light trucks, part of an effort to speed up the country's less-than-smooth transition to electric vehicles. Because GM agreed to address the excess emissions, EPA said it was not necessary to make a formal determination regarding the reasons for the excess pollution. But similar pollution cases in the past, automakers have been fined under the Clean Air Act for excessive emissions, and the Justice Department normally gets involved, said David Cooke, senior vehicles analyst for the Union of Concerned Scientists. Hyundai and Kia, for instance, faced Justice Department action in a similar case, he noted. —The Associated Press contributed to this report.

War-driven economy is so hot, Russia is now a 'high-income' country 2024-07-03 21:26:24+00:00 - Since launching its war on Ukraine, Russia has seen a boost in its GDP large enough that the World Bank reclassified Russia from an upper-middle-income to a high-income country. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

As temperatures soar, judge tells Louisiana to help protect prisoners working in fields 2024-07-03 21:21:22+00:00 - Amid blistering summer temperatures, a federal judge ordered Louisiana to take steps to protect the health and safety of incarcerated workers toiling in the fields of a former slave plantation, saying they face “substantial risk of injury or death.” The state immediately appealed the decision. U.S. District Court Judge Brian Jackson issued a temporary restraining order Tuesday, giving the state department of corrections seven days to provide a plan to improve conditions on the so-called Farm Line at Louisiana State Penitentiary, otherwise known as Angola. The expansive penitentiary occupies land that once was a plantation. Jackson called on the state to correct deficiencies, including inadequate shade and breaks from work and a failure to provide workers with sunscreen and other basic protections, including medical checks for those especially vulnerable to high temperatures. However, the judge stopped short of shutting down the farm line altogether when heat indexes reach 88 degrees Fahrenheit (31.1 degrees Celsius) or higher, which was what the plaintiffs had requested. The order comes amid growing nationwide attention on prison labor, a practice that is firmly rooted in slavery and has evolved over the decades into a multibillion-dollar industry. A two-year Associated Press investigation linked some of the world’s largest and best-known companies – from Cargill and Walmart to Burger King – to Angola and other prison farms, where incarcerated workers are paid pennies an hour or nothing at all. Men incarcerated at Angola filed a class-action lawsuit last year alleging cruel and unusual punishment and forced labor in the prison’s fields. They said they use hoes and shovels or stoop to pick crops by hand in dangerously hot temperatures as armed guards look on. If they refuse to work or fail to meet quotas, they can be sent to solitary confinement or face other punishment, according to disciplinary guidelines. As temperatures across the state continue to rise, “dealing with the heat in Louisiana has become a matter of life and death,” Jackson wrote in his 78-page ruling. “Conditions on the Farm Line ‘create a substantial risk of injury or death.’” Lydia Wright of The Promise of Justice Initiative, an attorney for the plaintiffs, applauded the decision. “The farm line has caused physical and psychological harm for generations,” she told the AP, adding it is the first time a court has found the practice to be cruel and unusual punishment. “It’s an incredible moment for incarcerated people and their families.” Ken Pastorick, a spokesman for Louisiana’s Department of Public Safety and Corrections, said the department “strongly disagrees” with the court’s overall ruling and has filed a notice of appeal with the 5th Circuit Court of Appeals. “We are still reviewing the ruling in its entirety and reserve the right to comment in more detail at a later time,” he said. —- Contact AP’s global investigative team at [email protected] or https://www.ap.org/tips/

AI drive-thru ordering is on the rise — but it may take years to iron out its flaws 2024-07-03 21:20:00+00:00 - Searching for ways to lower labor costs, restaurants are hoping that artificial intelligence can take down drive-thru orders — but it will likely be years before the technology becomes widely available. This year, 16% of restaurant operators plan to invest in artificial intelligence, including voice recognition, according to a survey from the National Restaurant Association. Most of the big spending comes from large chains, which have the capital and scale to make the technology work for their businesses. Even before the pandemic, labor costs had been rising for restaurants, leading operators to look to technology to boost their profit margins. Then Covid came, which not only accelerated labor costs but also led to a shift away from dining rooms and toward drive-thru lanes. California’s decision earlier this year to hike wages for fast-food workers to $20 an hour has only made operators more inclined to embrace technology to cut their labor costs, which has so far helped mostly in the automation of back-of-the-house tasks. At the same time, ChatGPT and other AI tools have fueled new excitement for generative AI in restaurants, though the industry is typically slow to embrace technological advances. One stumbling block for the burgeoning tech came in June, when McDonald’s told its franchisees that it would end its trial of Automated Order Taker, AI technology meant for its drive-thru lanes through a partnership with IBM. Once an early mover in the voice-ordering race, the fast-food giant now plans to turn to other vendors. Then there’s Presto Automation, the AI drive-thru technology company which disclosed last year in Securities and Exchange Commission filings that it uses “human agents” in places like the Philippines and India to complete orders. Presto interim CEO Gee Lefevre maintains that using humans is common in the AI industry and helps train the technology without straining the restaurant’s workforce. The company unveiled a fully autonomous version in May. Still, the initial lack of transparency may scare off some operators. While some restaurants may be skeptical of using AI for drive-thrus now, adoption may increase in the coming months and years. The tipping point for voice ordering is likely in 12 to 18 months, according to T.D. Cowen analyst Andrew Charles. That’s when he thinks at least two of the nation’s top 25 restaurant chains will go all in, expanding their small trial runs of the technology across their footprints. “It’s like third-party delivery a few years ago: Everyone was testing it, then when McDonald’s went with Uber, everyone else followed with their own partnerships,” Charles said. This time, McDonald’s likely won’t be the first mover. The pros and cons of AI ordering Companies with voice-ordering technology say their AI doesn’t replace jobs — it just frees up workers for other tasks. They also tout secondary benefits. SoundHound, an early leader in the space, said that its AI can take more than 90% of orders without requiring human intervention; the typical accuracy rate for humans is between 80% to 85%. SoundHound also said that its AI can speed up drive-thru lanes by roughly 10% because it can process orders faster. Plus, AI tries to upsell customers every order, raising average check size. Moreover, in the future, AI could be able to take orders from non-English speakers, representing a large opportunity both internationally and domestically, according to Charles. But for all the possible pros, there are also some drawbacks to generative AI. For one, restaurants risk damaging their reputations by using artificial intelligence, Bank of America Securities analyst Sara Senatore wrote in a research note on Friday. For example, inaccurate orders can cause delays and frustration, even if the AI transfers customers to a human restaurant worker. Moreover, while younger customers might enjoy the increased efficiency and lack of human interaction, older age cohorts tend to think differently. The majority of baby boomers would prefer fewer technology options while dining, according to a consumer survey from earlier this year conducted by the National Restaurant Association. Then there’s the fact that the technology isn’t perfect. Restaurants with weak Wi-Fi will need to speed up their internet connections. Locations by noisy highways will likely find that voice-ordering tech will need a few years to catch up and better understand customers. And restaurants with long, complicated menus will likely find that the AI struggles are more pronounced. Why McDonald’s dropped IBM partnership For McDonald’s, the risks aren’t worth it — for now. The fast-food giant’s foray into AI for the drive-thru began in 2019, when the company bought Apprente, renaming it McD Tech Labs. Two years later, McDonald’s sold McD Tech Labs to IBM and announced a global partnership with the tech company for undisclosed terms. McDonald’s had already tested the technology at a handful of Chicago area locations. Offloading the tech to IBM led to a larger scale test of roughly 100 restaurants. But the results from the trial run fell short of McDonald’s standards. The technology had issues interpreting different accents and dialects, hurting order accuracy, among other challenges, two sources familiar with the matter told CNBC. At the time, McDonald’s declined to comment on the technology’s accuracy or challenges, while IBM did not respond to a request to comment on the tool’s accuracy. Despite the setback, McDonald’s isn’t abandoning the goal of using artificial intelligence to take drive-thru orders. “While there have been successes to date, we feel there is an opportunity to explore voice ordering solutions more broadly,” Mason Smoot, senior vice president and chief restaurant officer for McDonald’s U.S., wrote in a memo to franchisees. Yum, Wendy’s test AI ordering The Golden Arches isn’t the only chain with a voice-ordering test. Yum Brands’ Taco Bell is expanding its test of voice AI from five locations to 30 restaurants in California “based on positive consumer feedback,” executives said in early May. White Castle plans to use SoundHound’s technology in more than 100 of its restaurants by year-end. And last year, Wendy’s announced a test at a company-owned restaurant in Columbus, Ohio, through a partnership with Google. So far, early movers have largely been companies with lower average unit volumes, T.D. Cowen’s Charles said. The industry metric refers to a chain’s average annual sales by restaurant. Because those chains’ locations have lower sales, there’s more financial incentive to use AI to mitigate higher labor costs, according to Charles. Panera Bread founder Ron Shaich told CNBC that the real winners will be a “fast follower” rather than the first mover with voice ordering. Shaich, who currently serves as chair of Cava and chief executive of his own investment firm Act 3 Holdings, claims credit for being the first mover on plenty of restaurant tech advancements: free Wi-Fi in Panera’s restaurants, combining the chain’s mobile app and loyalty program and introducing self-order kiosks. But in the case of voice ordering, Shaich said he thinks it’s better to sit tight while the technology gets ironed out and focus on making sure the overall customer experience can beat the competition. “Nobody’s running to a restaurant because it has this technology,” he said. — CNBC’s Kate Rogers contributed reporting for this story.

Election denier Jim Jordan calls on Democrats to 'uphold democratic norms' 2024-07-03 21:12:59+00:00 - Rep. Jim Jordan, a staunch devotee to Donald Trump who helped peddle lies about the 2020 election, urged “the left” to “uphold democratic norms” this week after the Supreme Court's ruling on presidential immunity. “Hyper-partisan prosecutors like Jack Smith cannot weaponize the rule of law to go after the Administration’s chief political rival, and we hope that the Left will stop its attacks on President Trump and uphold democratic norms," Jordan said in a statement on Monday. The Supreme Court ruled on Monday that Trump has some immunity from prosecution in his federal election interference case, a decision that could potentially affect his indictments in two other criminal cases and his conviction in the New York hush money case. Democrats, including President Joe Biden, criticized the ruling, and legal scholars across the political spectrum expressed shock at the high court's decision. But it was celebrated by Trump, who wrongly claimed that it had "exonerated" him, and a slew of Republicans loyal to him. The right framed the Supreme Court decision as a blow to Democrats, whom they have accused of manipulating the criminal justice system against a politician who himself has vowed to weaponize law enforcement against his political enemies if he is re-elected. Jordan's comments are especially rich, considering his participation in the effort to overturn the 2020 election results. The Ohio Republican had peddled the narrative about a "stolen election" in the months leading up to the 2020 race. After it became clear that Trump had lost, Jordan encouraged the then-president to not concede and plotted with him to reject the outcome of the election. Since becoming the chairman of the powerful House Judiciary Committee in January 2023, Jordan has used his perch to attack public officials investigating Trump and launch a haphazard impeachment inquiry against Biden. And he vowed to keep it up, saying in his statement on the Supreme Court ruling: “The Judiciary Committee will continue to oversee dangerous lawfare tactics in our judicial system.”

My brother drowned trying to save someone else on the Fourth of July. I dread the holiday every year. 2024-07-03 21:12:06+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. When friends invite me to a Fourth of July party, I decline. I hate this holiday. While the rest of America is celebrating, I'm reliving the day my brother drowned, the day my family went from eight kids to seven. Being the last in a long line of Funk kids was my whole identity growing up. Four boys and four girls were born in the span of 12 years: Paul, Sue, Tom, Carol, Ellen, Robbie, Dave, and me, but our dad introduced me as his caboose. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. My family met up for a reunion on July 4, 1990 It was 1990, the summer before my last year of college, when my oldest brother Paul rented a beach cottage on Lake Erie for a Fourth of July family reunion. My brother Dave and I drove up together on July 3. My sister Sue was already there with my two young nephews. Grocery bag after grocery bag was unloaded into the small cottage kitchen, and we had enough alcohol to host a fraternity party. After my brothers Tom and Robbie arrived, we all ran down to the beach. The weather was perfect that afternoon. We jumped waves and body-surfed in the bath-warm lake. We drank beer on the hot sand, passing cheese puffs and Pringles, telling jokes, and gossiping. We stayed up late around a bonfire, Robbie dazzling our nephews with his dramatic stories about magic and monsters. Advertisement The morning of the Fourth was hot and windy. After breakfast, we basked on the beach, enthralled by baby turtles washing up on the sand. The water was rough and dark, the color of chocolate YooHoo. My parents were due to arrive midday. Janet Funk and her oldest brother, Paul. Courtesy Janet Funk Robbie heard someone yelling from the water "Do you hear that?" Robbie said. "Somebody's yelling for help." He popped up, trying to locate the sound. "They're out there!" Robbie shouted as he started running. Paul, Dave, and Tom jumped up and followed him. Related stories "If you're going into that water, you better know what you're doing," a woman yelled to them. That's when Tom told Paul, "I'm not a good swimmer," and instead veered to the dock to watch. Advertisement The wind was churning up white peaks atop jagged waves. Robbie waded into the water first, then Paul, then Dave. I was standing in the shallow water, watching, expecting to see my brothers heroically carrying the distressed swimmers to safety. They were halfway there when Robbie went under. The water was incredibly dangerous that day From the dock Tom started yelling, pointing to the last place in the water where he saw him. Someone called 911. Volunteer firefighters appeared and formed a human chain with belts and ropes, but the undertow was too strong, and their chain broke. Another rescuer was sucked under by the violent current; the firefighters now had one of their own brothers to save. Next, they tried a boat, but it immediately capsized. I watched as Paul was pulled in with a life preserver, Dave was clipped onto the firefighters' rope, and dragged in. But still, no Robbie. People were frantically running, yelling, and pointing. Loud whistles, loud crashing waves. I couldn't understand what was said, I couldn't see what was happening between the undulating waves, and I couldn't stop looking for my brother, willing him to emerge. Advertisement My parents pulled up, unaware of our family's fate. One firefighter was also lost. One of the two people yelling from the water was saved by a local with a dinghy, but the other one drowned. We stood on that beach, telling our parents what happened as we continued scanning the water, still hoping to spot him. It was getting dark, but I didn't want to pull my feet out of the wet sand that was now up to my ankles, didn't want to turn my back and leave Robbie alone in the dark water. Shaking and crying, we helped each other up the wooden steps to the cottage. Thankful for the copious amount of alcohol, we prescribed ourselves shots of whiskey, hoping to knock ourselves out, to stop the spiraling thoughts, the reliving of the day. We lit sparklers and shared stories. I told them about the game Robbie and I made up called "dial-a-shot." He used to call me in my dorm and we would do a shot of vodka together over the phone before we went out. We held our glasses high and toasted him. As I waited for the effects to kick in, my mind dove into my childhood. I remembered when Robbie taught me how to play poker. I remembered when he slipped headphones on my ears and pressed play so I could hear a new punk band he bought on cassette. I saw him holding a sci-fi paperback, smoking cigarettes and weed. In our conservative Irish Catholic family, we were both non-conforming weirdos. Advertisement We waited for three days, floating in suspended disbelief, while they dragged the lake. His body was recovered by a scuba diver 200 yards in front of the cottage. I still dread the Fourth of July After the funeral, I had to return to school, but how could I go back to my regular life after I saw my brother die? School didn't feel important anymore. Stressing about grades seemed ridiculous. In our small town, everyone knew our big family. I thought leaving would feel like I was leaving Robbie behind, forgetting about him to focus on myself. School ended up being a reprieve because there, no one knew my family was one less. I could decide who I wanted to share the tragedy with, I could process it on my own. I didn't have to witness my parents suffering. The night before my graduation, Paul and I went out drinking and dancing and toasted Robbie again — he would have laughed at me for being so hungover when I walked across the stage for my diploma. Advertisement Robbie would be 60 now. I still cover my eyes during movie drowning scenes. I panic when my son goes swimming in the river. As the Fourth of July approaches again, I fear the dreaded question, "Do you want to watch the fireworks?" Absolutely not.

Saks Owner Is Said to Acquire Neiman Marcus in High-End Retail Deal 2024-07-03 21:10:35.795000+00:00 - In a move that will further consolidate the luxury retail market, the parent company of Saks Fifth Avenue has agreed to acquire Neiman Marcus in a $2.65 billion deal, creating the ultimate high-end department store behemoth, two people close to the negotiations said on Wednesday. The deal, which had been rumored since Neiman Marcus filed for bankruptcy protection during the pandemic, comes just over four years after Saks bought the license for the Barney’s name following the bankruptcy of that group. It also follows a wave of luxury e-tail failures, including that of FarFetch and Matches.com. Saks is owned by HBC, a retail conglomerate that bought the American chain in 2013 — the year after HBC also acquired Lord & Taylor. The acquisition of Neiman Marcus makes Saks Global, as the new group will be called, the dominant player in its market, with a combined 75 stores (including two Bergdorf Goodman stores), as well as 100 off-price stores. The new group’s only real rivals in the United States will be Macy’s, which also includes Bloomingdale’s, and Nordstrom. It will be run by Marc Metrick, the current chief executive of Saks and Saks.com, one of the people said. As part of the deal, Amazon will take a minority stake in Saks Global, the two people said. HBC, which also owns the Canadian department store chain Hudson’s Bay, is financing the acquisition with $2 billion it has raised from existing investors. Affiliates of the investment firm Apollo Global Management are providing $1.5 billion in debt.

Wisconsin’s Eric Hovde says young people relying on Obamacare need to ‘grow up’ 2024-07-03 21:09:34+00:00 - Republican Senate hopeful Eric Hovde has established quite the lowlight reel during his campaign. He’s been exposed as a California carpetbagger running for office in Wisconsin. He flubbed the Pledge of Allegiance. He claimed he’s familiar with Black culture because he has “spent a lot of time in places like Africa” and been involved with homeless shelters and charter schools. And he’s had to defend saying that “almost nobody in a nursing home is in a point to vote.” Newly released audio shows Hovde hasn’t reserved his scorn for older people — he has gone after young folks as well. Each passing week seems to bring a new embarrassing story for the Hovde campaign. And newly released audio shows Hovde hasn’t reserved his scorn for older people — he has gone after young folks as well. In the clip, released by Heartland Signal, Hovde — a wealthy businessman who launched his career in his 20s with major help from his rich father — is heard railing against the Affordable Care Act provision that allows people to stay on their parents’ or guardians’ health insurance until they’re 26. In the footage, which Heartland Signal said was recorded last week at a county fair in Wisconsin, someone can be heard telling Hovde that the provision for young people “just makes them lazy.” Hovde called the provision a “stupid idea” before continuing his diatribe. (Heartland Radio said his campaign did not respond to its request for comment.) “All we’re doing is delaying young people’s maturation,” he said. “And they need to grow up and move on, and stand on their own two feet. And, by the way, the lowest health care costs are when you’re 21 to 26.” When the questioner yet again mentioned laziness, Hovde replied: “We’ve never had such a large percentage of working-age Americans that are sitting on the couch ... and still living with their parents.” Hovde’s evidence-free claim is pretty rich (pun intended) coming from a wealthy nepo baby who — far from standing on his own two feet — leaned on his father, who worked in real estate and was a top housing official in the Reagan administration, to get started. But cruel hypocrisy and cringeworthy, fact-free comments are par for the course with Hovde. I don’t suspect young voters will like these latest remarks all that much.

Trump revels in wins after Supreme Court ruling grants him immunity 2024-07-03 21:03:08+00:00 - This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.

Biden tries to calm Democrats as 2024 drop-out pressure mounts: 'I'm not leaving' 2024-07-03 20:59:00+00:00 - U.S. President Joe Biden delivers remarks on the Middle East in the State Dining room at the White House in Washington, U.S., May 31, 2024. President Joe Biden and his White House staff spent Wednesday delivering pep talks in calls and meetings with close allies, Democratic governors, legislators and campaign staff. "Let me say this as clearly as I possibly can, as simply and straightforward as I can: I am running," Biden said on a call with campaign staff, an official told NBC News. "I'm not leaving. I'm in this race to the end and we're going to win." The comments are part of Biden's larger firefighting mission as his team works to quell Democratic panic about his reelection bid in the wake of his disastrous debate performance against former President Donald Trump last week. Biden was joined at the Wednesday campaign meeting by Vice President Kamala Harris, who is increasingly drawing eyes as a potential replacement for the president if he chooses to drop out of the race. The president spoke with some of his closest allies and Capitol Hill supporters Wednesday, including former Democratic House Speaker Nancy Pelosi, Senate Majority Leader Chuck Schumer, D-N.Y., Rep. Jim Clyburn, D-S.C., House Minority Leader Hakeem Jeffries, D-N.Y. and Sen. Chris Coons, D-Del. The president also has taped interviews with two Black radio shows, the Earl Ingram Show on the Civic Media Network and The Source with Andrea Lawful-Sanders on WURD Radio, scheduled to air Thursday morning, White House press secretary Karine Jean-Pierre said at the Wednesday press briefing. On Wednesday evening, the president is also scheduled to meet with Democratic governors from across the U.S., many of whom have been floated as other potential stand-ins for Biden. That meeting follows a Monday huddle of governors, who reportedly expressed their concerns about the Democratic Party's path forward, according to NBC News. New polls are delivering mixed signals about the president's current standing in the head-to-head rematch against Trump. A closely watched New York Times/Siena College poll released Wednesday found Trump leading Biden 49% to 41% among the registered voters surveyed. For likely voters, Trump led Biden by a slightly smaller 6-point margin, though that was 3 points higher than before the debate. The New York Times poll surveyed 1,532 registered voters across the country from June 28 to July 2. The margin of error was plus or minus 2.8 percentage points for registered voters. The debate was on June 27. A Wall Street Journal poll also out Wednesday echoed those findings, with Trump ahead of Biden 48% to 42%. That survey interviewed 1,500 registered voters from June 29 through July 2 and had a margin of error of plus or minus 2.5 percentage points. A Tuesday CNN poll also found Trump with a 6-point lead against Biden, though that was the same as the poll's April result. The margin of error for that question was plus or minus 3.7 percentage points. Polling so close after the debate represents a snapshot of immediate voter reactions and the results could change as voters take more time to process Biden's substandard performance. While Biden's campaign continues its blitz, pressure mounts for the president to consider bowing out of the 2024 race. The New York Times reported Wednesday that Biden has privately told an ally that he is weighing whether to stay in the race. Several outlets including CNN and ABC News followed with similar reports. The White House has repeatedly said those reports are false. In television interviews on Tuesday, Pelosi and Clyburn said it was reasonable to question Biden's physical and cognitive fitness, though they also doubled down in their support for the president. Also on Tuesday, House Rep. Lloyd Doggett, D-Texas, became the first congressional Democrat to officially call on Biden to bow out of the race. Rep. Jared Golden, D-Me., later published an op-ed expressing his lack of confidence in Biden's candidacy titled, "Donald Trump is going to win the election and democracy will be just fine." In response, the White House and the Biden campaign have rolled out a slate of events for the coming week to reassure the public. On Friday, the president will sit for an interview with ABC News. He is also visiting key battleground states Wisconsin on Friday and Pennsylvania on Sunday. Additionally, the White House announced that next week Biden will give a press conference at the NATO summit. "He has done more than 40 interviews this year alone, and we're going to continue that," Jean-Pierre said Tuesday. "Those were unscripted. He's done more than 500 'gaggles.' Those are unscripted. And we want to continue to do that."

9 tips for making the perfect burger at home, according to Chili's head chef 2024-07-03 20:53:28+00:00 - Brian Paquette, the head of culinary at Chili's, shared his tips for making the perfect burger. He said a great burger starts with the right kind of beef and a "really clean, really hot" grill. He also shared how to replicate popular Chili's burgers at home. 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 Fourth of July weekend means cooking out, and the process of making the best burger for your guests starts in the grocery store. That's according to Brian Paquette, the head of culinary at Chili's, who spoke with Business Insider about how to make a restaurant-quality burger at home, from the meat he buys to his best grilling hacks and go-to toppings. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

SpaceX Dragon Capsule debris as big as a car hood crash-landed in North Carolina. It's part of a major space trash problem. 2024-07-03 20:52:09+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 NASA has confirmed that a hunk of space junk as big as a car hood found in North Carolina belonged to a SpaceX Dragon Capsule, according to an agency statement shared on X. The Dragon Capsule is a reusable spacecraft that carries astronauts and cargo to-and-from the International Space Station. But a part of it, called the trunk, isn't reusable and is discarded just before the capsule returns to Earth. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. That trunk is what ended up crash-landing on a trail at a mountaintop resort just outside Asheville in May. "It was just wild. It was crazy-looking," groundskeeper Justin Clontz who stumbled on the large debris, told Space.com. No one was injured from the impact. But the space junk shouldn't have been there in the first place. NASA said in its statement that evaluations of Dragon's initial design showed that it should fully break up in Earth's atmosphere. That's not what happens every time though. Advertisement Debris from the Dragon Capsule landed in the middle of a train at the Glamping Collective, a mountaintop resort in North Carolina. Photos by Brett Tingley, courtesy of the Glamping Collective A similar chunk of Dragon trunk was found in Franklin, North Carolina in June. And another landed in a farmer's field in Saskatchewan, Canada in April. It's not just SpaceX junk falling to Earth. A two-pound piece of debris slightly smaller than a soda can fell from the International Space Station in March, crashing through a family's roof in Florida. The family is now suing NASA over the incident. These series of recent accidents underscore how difficult it can be to predict and model when space debris will, and will not, burn up in Earth's atmosphere. Improving these models is more important than ever. Humans are launching more into space than ever before The number of objects launched into space annually has increased dramatically in the last decade, and the US is the biggest contributor. United Nations Office for Outer Space Affairs, Our World in Data Space junk has been falling out of the sky since the 1960s, but humans are launching more stuff into space than ever before. According to the site "Our World in Data", in 2023, a record-breaking 2,664 objects, including satellites, spacecraft, landers, and more, were sent to, or beyond, Earth's orbit. Advertisement "Once those things die, then they're just abandoned. It's just like orbiting trash. And then it's up to mother nature to figure out how the thing re-enters," Moriba Jah, associate professor of Aerospace Engineering and Engineering Mechanics at The University of Texas at Austin, told BI. Jah is referring to uncontrolled re-entries. It's when space debris free-falls toward Earth with no one controlling its course. Related stories Modeling uncontrolled re-entires involves a lot of uncertainty and is, therefore, more complex than modeling controlled re-entries, which usually involve rockets that guide the debris' trajectory, ensuring it lands in a safe area, like the ocean. An illustration shows satellites around the Earth in 2019. Each dot represents one satellite, and is not scaled to size. NASA "For uncontrolled stuff, all bets are off, because you don't necessarily know what the orientation of the object is as it hits the atmosphere, or how it's tumbling," Jah said. Advertisement Uncontrolled re-entry typically happens to smaller chunks of space debris that are expected to break up in the atmosphere before ever reaching the ground — like the Dragon Capsule's trunk. Even though this space debris is relatively small compared to, say, car-sized satellites, it's not harmless. They're moving at thousands of miles per hour before impact. If the piece of debris that crash landed outside Asheville, North Carolina in May had landed on a person, it would have certainly killed them, Jonathan McDowell, an astrophysicist at the Harvard and Smithsonian Center for Astrophysics and leading space debris expert, told BI. NASA plans to use information gathered from the debris recovery to improve their space debris models, according to the agency's statement. Photos by Brett Tingley, courtesy of the Glamping Collective While the chances of space debris hitting a person are astronomically low, a 2022 study published in the peer-reviewed journal Nature, estimated there's about a 10% chance one or more people will be struck within a 10-year period. Advertisement How to reduce the risk of falling space debris NASA wrote in its statement that it'll use the debris recovered from the mountaintop resort in North Carolina to improve debris modeling. Another option that NASA should consider, McDowell said, was to reduce the number of uncontrolled re-entries and use controlled de-orbit even for small space objects. "Then you know exactly when and where it's gonna come down," McDowell said. Right now, controlled re-entries are relatively uncommon. Roughly 200 to 400 objects big enough to be tracked re-enter Earth's atmosphere each year, and only a handful of them are controlled re-entries, according to The Aerospace Corporation. Advertisement Making controlled re-entry the status quo would require new laws, and federal funding to help NASA and companies like SpaceX clean up their junk, Jah said. The Federal Government is responsible for approving space launches but doesn't hold launching entities like NASA or SpaceX responsible for disposing of objects safely. That needs to change, Jah added. "Working in space always carries some uncertainty, but NASA works to ensure its operations are safe for the public, and it strives to continuously improve processes," NASA wrote in a statement to BI. SpaceX did not respond to BI's request for comment.

Bragg Gaming Unveils 6th PAM Client in the Netherlands - PlayAGS (NYSE:AGS), Adtalem Glb Education (NYSE:ATGE) 2024-07-03 20:47:00+00:00 - Loading... Loading... Bragg Gaming Group Inc. BRAG has offered its innovative Player Account Management ("PAM") software for the launch of Hard Rock Digital's iGaming website, HardRockCasino.nl. Bragg boosts its Dutch market reach with this sixth PAM client in the Netherlands. Perks of the Deal Per the deal, the HardRockCasino.nl website will have access to Bragg's full suite of managed services including payment processing and technology, 24/7 customer support, retention marketing, fraud prevention services, and access to its responsible gambling solutions. Furthermore, the company will offer exclusive content from its in-house proprietary, games development studios including Atomic Slot Lab and Indigo Magic. Other than supplying PAM technology, Bragg will also permit content aggregation wherein HardRockCasino.nl will gain access to the Bragg HUB. This move will bring together more than 10,000 casino titles, including exclusive games built on the Bragg Remote Gaming Server and games from other leading iGaming suppliers. Notably, all the online casino games delivered through the Bragg HUB content delivery platform come with Bragg's Fuze promotional tools as standard, which offer player engagement features on games such as free rounds, tournaments and quests. Online Gaming Boosts Growth Bragg Gaming is diligently focusing on transforming itself into a content-focused iGaming solutions provider across expanding North American and European markets. This strategic move is backed by expanding and diversifying its content portfolio through organic and inorganic initiatives, entering into accretive partnerships and focusing on expanding its footprint. Focusing on expanding its product portfolio, during the first quarter of 2024, Bragg Gaming released 19 new exclusive online casino games, including seven from its in-house Bragg's Studios. The company also launched online games in the United States for the first time from the popular land-based slots developer King Show Games, which further boosted its strong exclusive games road map for North America. Furthermore, the company delivered and deployed its second custom slot game developed for Caesars Digital, Boardwalk Slots Bankers in cash, which is now exclusively live on Caesars Palace online casino and Caesars Sportsbook online casino in Michigan and New Jersey. Given the robust progress in new and existing markets regarding online gaming, Bragg Gaming remains bullish on the opportunities ahead as the trend of iGaming regulation continues globally. The company has observed exciting potential in the newly regulated markets of Brazil, Peru and Finland, accompanied by untapped opportunities in regions like Africa. Image Source: Zacks Investment Research Shares of this content and technology solutions provider to the iGaming industry have surged 89.1% in the past year, outperforming the Zacks Gaming industry's 5.8% growth. Zacks Rank & Key Picks Bragg Gaming currently carries a Zacks Rank #4 (Sell). Here are some better-ranked stocks from the Consumer Discretionary sector. PlayAGS, Inc. AGS presently sports a Zacks Rank #1 (Strong Buy). AGS has a trailing four-quarter earnings surprise of 33.3%, on average. The stock has hiked 100.7% in the past year. The Zacks Consensus Estimate for AGS' 2024 sales and earnings per share implies growth of 7.7% and 5,200%, respectively, from the year-ago levels. La-Z-Boy Incorporated LZB currently sports a Zacks Rank of 1. LZB has a trailing four-quarter earnings surprise of 15.3%, on average. The stock has gained 29.7% in the past year. The Zacks Consensus Estimate for LZB's fiscal 2025 sales and EPS implies growth of 2.1% and 5%, respectively, from the year-ago levels. Adtalem Global Education Inc. ATGE currently carries a Zacks Rank #2 (Buy). ATGE has a trailing four-quarter earnings surprise of 18.8%, on average. The stock has surged 95.3% in the past year. The Zacks Consensus Estimate for ATGE's fiscal 2025 sales and EPS indicates an increase of 5.3% and 16.6%, respectively, from the year-ago levels. To read this article on Zacks.com click here.