Latest News

See the latest news and get GPT analysis of articles

Amidst Bull Market Surge, New Platform for Blockchain Development 'Cobo Portal' Launches 2024-07-03 20:38:00+00:00 - Loading... Loading... Cobo Portal is designed to streamline blockchain development and digital asset management, addressing the growing demand for scalable and secure solutions. Determined to redefine the digital asset management landscape, Cobo has launched Cobo Portal, an innovative all-in-one platform designed to revolutionize blockchain development and asset management. As the digital finance sector experiences unprecedented growth, this comes at a pivotal moment, offering businesses and developers a tool to navigate and thrive in the evolving blockchain ecosystem. Riding The Wave Of Market Momentum The arrival of Cobo Portal comes at a crucial time following the approval of Spot Bitcoin and Ethereum exchange-traded funds (ETFs), which have brought newfound legitimacy to digital assets. This development has injected significant liquidity into the market, signaling an extended bull run and increasing institutional interest in blockchain technology. Cobo is looking to meet this demand, offering a scalable and secure platform that supports the next billion users. Beyond the realm of traditional finance, there's a surge in companies and developers building real-world applications on blockchain infrastructure. Payment gateways that enable digital asset acceptance are just one example. "We are incredibly bullish on the market’s prospects. With institutionalization materializing, crypto finance is maturing into a stable ecosystem from 2024 onwards, serving real-world needs," said Discus Fish, Co-Founder and CEO of Cobo. "Like the tech industry’s shift towards cloud service, we see a similar trajectory in crypto as solution providers are building unified platforms to tackle tech silos that hinder development. With a deep understanding of the industry's pain points, Cobo Portal is our answer to the complexities of securely managing digital assets and accelerated blockchain development, offering digital asset businesses a seamless and bank-grade solution for building innovative applications with ease." Offering A Unified And Secure Solution Cobo Portal is a comprehensive platform that simplifies blockchain development and digital asset management. It integrates four distinct wallet technologies—Custodial Wallets, Multi-Party Computation (MPC) Wallets, Smart Contract Wallets, and Exchange Wallets—into a single interface. This consolidation allows developers to build applications using multiple wallets, enhancing operational efficiency and flexibility. The platform is designed with robust security features and an intuitive user interface. Cobo’s seven-year track record of zero incidents underscores its reputation as a trusted entity in the digital asset space. The platform also provides advanced risk management through comprehensive on/off-chain risk controls and customizable workflows, ensuring complete asset protection. Simplifying Blockchain Infrastructure For Businesses Cobo Portal offers extensive documentation and a dedicated crypto-native team for technical support. This ensures that even those with little to no blockchain experience can navigate and utilize the platform's features effectively. As the digital assets industry becomes more fluid and transcends borders, Cobo recognizes the importance of a globalized approach. The platform facilitates access to liquidity, marketing, and customer acquisition, particularly in the APAC region. "Our focus on developer-friendly tools, risk controls, and advanced security measures sets Cobo Portal apart," said Dr. Changhao Jiang, Co-Founder and CTO of Cobo. "Developed by crypto-native developers, for developers, we fully understand the core needs to successfully grow and scale crypto businesses. By offering custody and wallet infrastructure solutions in a single, unified platform, we ensure companies and developers have easy access to various functionalities and can streamline their operations with ease, even with little to no Web3 experience." Since 2017, Cobo has been instrumental in driving crypto adoption in Asia. The company has secured billions of USD in assets and facilitated hundreds of billions of transactions for various institutional clients across the APAC region. Today, Cobo continues to offer solutions that power projects like Merlin Chain and Babylon Chain. Image provided by Cobo. This post was authored by an external contributor and does not represent Benzinga’s opinions and has not been edited for content. The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice. Benzinga does not make any recommendation to buy or sell any security or any representation about the financial condition of any company.

Nintendo Escalates Anti-Piracy Campaign With Lawsuit Against Modded Hardware - Nintendo Co (OTC:NTDOY) 2024-07-03 20:37:00+00:00 - Loading... Loading... Nintendo ADR‘s NTDOY legal offensive against alleged Nintendo Switch pirates continues, with the latest lawsuit targeting Modded Hardware, a modding company. The suit alleges Modded Hardware not only provides the necessary hardware and firmware for creating and playing pirated games but also distributes pirated copies of Nintendo games. See Also: Garry’s Mod Under Fire: Nintendo Orders Massive Content Purge According to TorrentFreak, Nintendo reached out to Modded Hardware owner Ryan Daly in March 2024, offering a chance to cease operations. Despite an agreement to stop, Modded Hardware continued its business, leading Nintendo to issue a final warning in May 2024. With no response, Nintendo filed a lawsuit in a federal court in Seattle, Washington, seeking the immediate closure of Modded Hardware and damages. Nintendo’s lawsuit claims: “Typically, when a customer purchases a hacked console or the circumvention services, Defendant preinstalls on the console a portfolio of ready-to-play pirated games, including some of Nintendo's most popular titles such as its Super Mario, The Legend of Zelda, and Metroid games.” In a separate case, Nintendo filed a lawsuit against James Williams, known online as Archbox, for allegedly operating several “pirate shops” that sell illegal copies of Nintendo games. The lawsuit also cites Williams’ role as a moderator in the SwitchPirates Reddit community, where he reportedly promoted these pirate shops and offered technical advice on using pirated games. Nintendo’s legal actions are part of a broader strategy to protect its intellectual property. This year, it targeted 8,500 copies of the Switch emulator Yuzu and took legal action against Tropic Haze, creator of the emulator, after The Legend of Zelda: Tears of the Kingdom was pirated one million times before release. Previous successful lawsuits include a $2.1 million damages award from RomUniverse in 2021 and over $12 million in damages from another case in 2018. Nintendo also blocked the release of the Dolphin emulator on Steam. Read Next: Photo by Magnus Engø on Unsplash

Why was it a surprise? Biden’s debate problems leave some wondering if the press missed the story 2024-07-03 20:32:16+00:00 - NEW YORK (AP) — President Joe Biden’s fitness to serve a second term in office has been a top story since his halting performance in last week’s debate against Donald Trump, where the president at times appeared unable to complete or articulate some thoughts in the pressure of the moment. To some press critics who are now reading these stories, there’s another question: What took you so long? “It is simply astounding for the entire country, including its most seasoned reporters, to be as shocked as everyone was by the ugly and painful reality of Biden’s debate performance,” Jill Abramson, former executive editor of The New York Times, told the website Semafor this week. While it was a “super hard story to report,” she said it could have been done. Instead, Abramson said, the American press failed in its duty to hold those in power accountable. Certainly, there’s no shortage of “I told you so” sentiment coming from Biden opponents. “Conservatives have noticed that for a very long time,” said “Fox & Friends” host Ainsley Earhardt. It’s a complicated story that has bubbled for months — and, it can be argued, the American people were onto it first. Big pushback from Biden aides all along Throughout the campaign, Biden aides have pushed back aggressively on the notion that he had become diminished, and some supporters are angered by any attention the issue gets in comparison to stories about whether or not Trump tells the truth. What to know about the 2024 Election Democracy: American democracy has overcome big stress tests since 2020. More challenges lie ahead in 2024. American democracy has overcome big stress tests since 2020. AP’s Role: The Associated Press is the most trusted source of information on election night, with a history of accuracy dating to 1848. Learn more. The Associated Press is the most trusted source of information on election night, with a history of accuracy dating to 1848. Read the latest: Follow AP’s complete coverage of this year’s election. Nearly a year ago, in August 2023, the Associated Press-NORC poll found that three-quarters of U.S. adults said that the 81-year-old Biden was too old to effectively serve another four-year term as president. AP-NORC found this February that six in 10 adults were “not very” or “not at all” confident that Biden had the mental capability to serve as president, although the sentiment was roughly the same for his 78-year-old Republican opponent, Donald Trump. Media standards for covering a president’s health have changed markedly through the years. It was little known at the time, but after President Woodrow Wilson suffered a severe stroke in 1919, his wife effectively ran the government for the remainder of his term. And, in the pre-television days, the press stayed largely quiet about the disability that largely kept Franklin D. Roosevelt in a wheelchair much of the time. Four reporters from the Times collaborated on a story, published Tuesday, that said several people who had encountered Biden behind closed doors noticed “he increasingly appeared confused or listless, or would lose the thread of conversations.” Not many uncontrolled public appearances Biden’s lack of public visibility in situations that aren’t tightly controlled has been evident throughout his presidency. The 36 news conferences he had given through June 30 were fewer than any president in the same time frame since Ronald Reagan, according to Martha Joynt Kumar, director of the White House Transition Project. Biden gave a total of 128 interviews, compared to Donald Trump’s 369 at the same stage of his presidency and 497 by Biden’s former boss, she said. It was noticed in February when Biden passed up an interview in the Super Bowl pregame show, a relatively new presidential tradition that offers an audience of tens of millions of people. Under pressure following the debate, Biden has agreed to an interview on Friday with George Stephanopoulos of ABC News, and his team said he would do a news conference next week. Biden’s staff may have done him a disservice by shielding him from such situations, said Karl Pillemer, a Cornell University gerontologist. “In general, it’s good for a politician and for an older person to exercise and manage stressful situations,” he said. In other words: practice helps. If there were signs beyond public speaking that he was impaired in his ability to do the job, Biden should have been investigated, said Pillemer, professor of gerontology in medicine at Weill Cornell. But he said he was unaware of such evidence, unlike what there was for California Sen. Dianne Feinstein before she died. “I don’t think there’s a lot more the media could have done,” Pillemer said. The situation shows how media pressure for greater access is more than just whining, said Ben Smith, co-founder of the news website Semafor and a former media columnist. Even off-the-record time with a president is valuable to get a sense of what he’s like, and Biden did not do that to the extent of his predecessors, Smith said. If there had been some crisis situation before the debate where Biden’s problems were evident, the press might have jumped on the story earlier. “But a lot of Americans believed that the president was in really bad shape, and the media kind of waved that off,” Smith said. “We should have all gone after it harder,” he said. A story challenging to tell for journalists Abramson told Semafor that she was worried that many journalists didn’t try to get the story because they did not want to be accused of helping elect Trump. The Wall Street Journal, in a June 4 piece by Annie Linskey and Siobhan Hughes, said that some people who had worked with Biden “described a president who appears to be slower now, someone who has both good moments and bad moments.” The Journal reporters interviewed more than 45 people, both Republicans and Democrats, for the piece. Yet because the story, in a newspaper owned by Rupert Murdoch, prominently quoted Republican House speakers Kevin McCarthy and Mike Johnson, it was dismissed by many at the time as being inspired by partisanship. Similarly illustrating the challenges in telling the story, the Biden campaign has sharply criticized the Times during instances when they wrote about concerns over Biden’s age. Even before the campaign, the Times cites stories that indicate the newspaper did not ignore the issue. Politico suggested in April, quoting an unnamed Times staff member, that the newspaper’s attention to the issue was “quietly encouraged” by publisher A.G. Sulzberger because he was upset that Biden had not agreed to an interview with Times reporters. The newspaper sharply denied that, and issued a statement saying that it was troubling that Biden “had so actively and effectively avoided questions from independent journalists during his term.” On Wednesday, Times Executive Editor Joe Kahn sent a message to the paper’s newsroom about the issue, acknowledging “ample speculation” about what the media did and didn’t do. “What I’ve seen and what our readers have experienced from our team is steadfast, fact-based reporting on the subject that began a couple of years ago as we documented Biden’s age-related challenges in multiple, industry-leading articles,” Kahn wrote. “We have stayed on that story at every turn, always with nuance and context, through today’s outstanding report.” ___ Linley Sanders of The Associated Press’ polling team contributed. David Bauder writes about media for the AP. Follow him at http://twitter.com/dbauder.

Chevron, not Trump immunity, may be the worst Supreme Court decision this term 2024-07-03 19:55:13+00:00 - Imagine that Congress passes a statute authorizing the Environmental Protection Agency to require permits whenever material alterations are made to a “major stationary source” of air pollution (or new ones are created). So far, so good. Now imagine that a power plant near your home has three smokestacks. Does that count as one “major stationary source” or three? And what makes a stationary source “major”? Beyond these substantive questions is a procedural one: Who should resolve these matters? Unelected federal judges, who may have no particular expertise in environmental law, or the federal agency staffed with scientific and policy experts who do? The smokestack example is a simplified version of the facts of a real 1984 case, Chevron U.S.A., Inc. v. Natural Resources Defense Council, in which the Supreme Court held that, if a statutory term is ambiguous, courts should generally defer to an executive branch agency’s reasonable interpretation. In Chevron, that meant upholding a Reagan-era rule that defined “major stationary source” on a plantwide basis (back to our earlier example, one source, not three). The animating principle behind Chevron is that, given the range and depth of federal regulations, Congress can’t be expected to define every aspect of every agency’s power with surgical specificity. And it made more sense to let the agencies — to whom Congress delegated the relevant power in the first place — provide any final missing details. As the court explained, “Judges are not experts in the field, and are not part of either political branch of the Government.” At its core, the Loper Bright decision is a transfer of power. On Friday, in an ideologically divided 6-3 ruling penned by Chief Justice John Roberts, the Supreme Court unceremoniously overruled the Chevron precedent. And although it won’t get as much attention as Friday’s other rulings in the Jan. 6 obstruction case or the Grants Pass homelessness case (neither of which will get much attention in light of Monday’s ruling in the Trump immunity case), the court’s decision overruling Chevron, Loper Bright Enterprises v. Raimondo could end up having the most significant long-term impact. At its core, the Loper Bright decision is a transfer of power. The Supreme Court insists that it’s a transfer of power from unelected bureaucrats in unaccountable federal agencies to the people’s elected representatives. But that argument is based on two different fictions. Understanding those fictions also helps to understand the central complaint in Justice Elena Kagan’s dissent: that the majority opinion is nothing more than a massive, and potentially government-altering “grasp[] for power.” Let’s start with the first fiction: that executive branch agencies are unaccountable. Ironically, this is far less true today than it was when Chevron was decided, and the Supreme Court is a big part of why. In a series of decisions over the last 15 years, the court’s conservative majority has embarked on a series of doctrinal shifts to make executive branch agencies more directly accountable to the president — who, quite obviously, is democratically accountable. First, the court has made it harder for Congress to limit the removal of executive officers to cases in which there is “good cause” — a common means by which Congress had tried to insulate executive branch officers from direct presidential control. Today, every “principal” executive officer (e.g., Cabinet secretaries) and the overwhelming majority of “inferior” executive officers (e.g., deputy agency administrators) serves at the pleasure of their superiors, and are thus directly accountable to them. Second, the court has held that more executive branch officials are “officers” in the first place, and more officers are “principal” officers. This further enhances the president’s ability to directly control bureaucrats he probably has never heard of. To illustrate the point, consider the agency the regulations of which were at issue in Loper Bright: the National Marine Fisheries Service, which is part of the National Oceanic and Atmospheric Administration (NOAA). It is headed by the assistant administrator for fisheries (currently Janet Coit), who is appointed by the secretary of commerce “subject to approval of the President,” with no insulation against being removed at will. In other words, if voters have a problem with how the NMFS is interpreting its statutory authority, it’s a direct line from the president to Assistant Administrator Coit, and vice versa. Maybe you’ve never worried too much about what the National Marine Fisheries Service does, but that doesn’t mean its actions are unaccountable. The second fiction — that the power the court took away from agencies will be given back to Congress — is even easier to dispel. It’s hardly a secret that the current Congress is beset with dysfunction and gridlock, and has been for some time. Thus, the idea that Congress would be able to clarify, on a regular basis, any ambiguities in statutes delegating power to executive branch agencies is a farce. The current Congress probably couldn’t agree to clarify that today is Wednesday. The second fiction — that the power the court took away from agencies will be given back to Congress — is even easier to dispel. Contemporary congressional dysfunction aside, it just isn’t realistic to expect Congress to legislate with micro-specificity across every single inch of regulatory real estate. That’s not a point about our present political reality; it’s a point about parliamentary capacity. There are somewhere north of 430 federal agencies; even if Congress devoted one calendar day each year to one agency, it wouldn’t get to all of them. And even if it could, some agencies enforce dozens of statutes. Could even the most hard-working, institutionally responsible Congress be expected to define in detail exactly what does and doesn’t count as a “major stationary source of pollution?” The reality, then, is that the only transfer of power the Supreme Court accomplished by overruling Chevron is a transfer of power to the courts. After all, it is now going to be up to judges to decide what each and every statute agencies enforce means. In Chevron itself, the question would thus be not whether the EPA was reasonable in deciding that a power plant with multiple emission points was a single “major stationary source of pollution,” but whether the judge deciding that issue believes that it is. And given the ability of plaintiffs today to steer lawsuits toward those judges most likely to be sympathetic to their reading of the relevant statute (and least sympathetic to the government’s), all government agencies will now have a harder time doing their jobs. And more federal programs will be tied up in court, whether we like them or not. If anything, the court’s subsequent, 6-3 ruling on Monday that even old agency actions can be challenged anew so long as the plaintiff has only recently been harmed by them, will only open the door to more of these lawsuits. That may not seem like a huge deal compared to, for example, whether former President Donald Trump can be prosecuted for his alleged role in the storming of the Capitol. But federal regulators and regulations are all around us inspecting our meat; ensuring that everyday products, from cribs to cars, are manufactured to minimum safety standards; looking out for public health; and on and on and on. Agencies aren’t perfect. But neither are judges. And if the question is whether technical questions should be resolved by those with the relevant expertise who work for presidents for whom we have voted, or by generalist judges selected (and sometimes hand-picked) by plaintiffs with an ideological axe to grind, the answer shouldn’t have been this hard. Deference to executive branch agencies is something we’ll miss when (as of last Friday) it’s gone.

'Early innings' of a U.S. manufacturing boom: Tema ETFs CEO delivers bull case for industrials 2024-07-03 19:40:00+00:00 - One exchange-traded fund is betting on a U.S. manufacturing job resurgence. Tema ETFs CEO and founder Maurits Pot is behind the American Reshoring ETF (RSHO) that focuses on industrials. "Some will call it deglobalization. We're in the early innings," Pot told CNBC's "ETF Edge" this week. "At the heart of it is job creation, manufacturing and reshoring — bringing back local manufacturing jobs." Pot's firm launched the American Reshoring ETF in May 2023. Since its inception, the exchange-traded fund is up almost 37% as of Wednesday's close.

Fed says it's not ready to cut rates until 'greater confidence' inflation is moving to 2% goal 2024-07-03 19:04:00+00:00 - Federal Reserve officials at their June meeting indicated that inflation is moving in the right direction but not quickly enough for them to lower interest rates, minutes released Wednesday showed. "Participants affirmed that additional favorable data were required to give them greater confidence that inflation was moving sustainably toward 2 percent," the meeting summary said. Though the minutes reflected disagreement from the 19 central bankers who took part in the discussion, with some even indicating a penchant toward raising rates if necessary, the meeting concluded with Federal Open Market Committee voters holding rates in place. The Fed targets 2% annual inflation, a level it has been above since early in 2021. Officials at the meeting said data has improved lately, though they are want more evidence that it will continue. Meeting participants "emphasized that they did not expect that it would be appropriate to lower the target range for the federal funds rate until additional information had emerged to give them greater confidence that inflation was moving sustainably toward the Committee's 2 percent objective." At the meeting, policymakers also provided an update on economic projections and monetary policy over the next several years. The FOMC "dot plot" showed one quarter percentage point cut by the end of 2024, down from the three indicated following the last update in March. Even though the dot plot indicated one cut this year, futures markets continue to price in two, starting in September. Also, the committee largely left its economic projections intact, though they lowered their inflation expectations for this year. In discussions over how they would approach monetary policy, the minutes reflected some disagreements. Some members noted the need to tighten the reins should inflation persist, while others made the case that they should be ready to respond should the economy falter or the labor market weaken. "Several participants observed that, were inflation to persist at an elevated level or to increase further, the target range for the federal funds rate might need to be raised," the minutes stated. "A number of participants remarked that monetary policy should stand ready to respond to unexpected economic weakness." The minutes do not identify individual members nor do they provide exact amounts for the number of officials expressing particular viewpoints. However, in the Fed parlance, "a number" is considered more than "several." The summary also noted a "vast majority" saw economic growth "gradually cooling" and that the current policy is "restrictive," a key term as the officials contemplate how restrictive policy needs to be while bringing down inflation and not causing undue economic harm. Since the meeting, officials have largely stuck to a cautious script stressing data dependency rather than forecasts. However, there have been indications from multiple officials, including Chair Jerome Powell, that continued encouraging readings on inflation would provide confidence that rates can be lowered. In an appearance Tuesday in Portugal, Powell said the risks of cutting too soon and risking a resurgence in inflation against cutting too late and endangering economic growth have come more into balance. Previously, officials had stressed the importance of not backing off the inflation fight too soon.

Fed says inflation is moving in the right direction 2024-07-03 19:04:00+00:00 - Federal Reserve officials at their June meeting indicated that inflation is moving in the right direction but not quickly enough for them to lower interest rates, according to minutes released Wednesday. “Participants affirmed that additional favorable data were required to give them greater confidence that inflation was moving sustainably toward 2 percent,” the meeting summary said. Though the minutes reflected disagreement from the 19 central bankers who took part in the discussion, with some even indicating a penchant toward raising rates if necessary, the meeting concluded with Federal Open Market Committee voters holding rates in place. The Fed targets 2% annual inflation, a level it has been above since early in 2021. Officials at the meeting said data has improved lately, though they are want more evidence that it will continue. Meeting participants “emphasized that they did not expect that it would be appropriate to lower the target range for the federal funds rate until additional information had emerged to give them greater confidence that inflation was moving sustainably toward the Committee’s 2 percent objective.” At the meeting, policymakers also provided an update on economic projections and monetary policy over the next several years. The FOMC “dot plot” showed one quarter percentage point cut by the end of 2024, down from the three indicated following the last update in March. Even though the dot plot indicated one cut this year, futures markets continue to price in two, starting in September. Also, the committee largely left its economic projections intact, though they lowered their inflation expectations for this year. In discussions over how they would approach monetary policy, the minutes reflected some disagreements. Some members noted the need to tighten the reins should inflation persist, while others made the case that they should be ready to respond should the economy falter or the labor market weaken. “Several participants observed that, were inflation to persist at an elevated level or to increase further, the target range for the federal funds rate might need to be raised,” the minutes stated. “A number of participants remarked that monetary policy should stand ready to respond to unexpected economic weakness.” The minutes do not identify individual members nor do they provide exact amounts for the number of officials expressing particular viewpoints. However, in the Fed parlance, “a number” is considered more than “several.” The summary also noted a “vast majority” saw economic growth “gradually cooling” and that the current policy is “restrictive,” a key term as the officials contemplate how restrictive policy needs to be while bringing down inflation and not causing undue economic harm. Since the meeting, officials have largely stuck to a cautious script stressing data dependency rather than forecasts. However, there have been indications from multiple officials, including Chair Jerome Powell, that continued encouraging readings on inflation would provide confidence that rates can be lowered. In an appearance Tuesday in Portugal, Powell said the risks of cutting too soon and risking a resurgence in inflation against cutting too late and endangering economic growth have come more into balance. Previously, officials had stressed the importance of not backing off the inflation fight too soon.

How to boost your EQ at the office—even if you work remotely, according to a career expert 2024-07-03 18:49:00+00:00 - Earlier this spring, I spoke with self-made millionaire Steve Adcock about financial regrets. He cited one thing he wished he knew in his 20s that could have made him wealthier, faster. "Your personality will get you 10 times richer than your intelligence," Adcock told me. "I learned that throughout my career, slowly but surely. I worked with a lot of smart people, no doubt about it. But those smartest people in the office weren't necessarily the ones getting the raises and promotions." The big bucks, Adcock said, were going to the people who used their emotional intelligence — sometimes called EQ — to develop the important relationships you need to rise through the ranks. "EQ is going to get you way more money and way more opportunities for promotion than IQ," Adcock said. I interviewed Vicki Salemi, a career expert with Monster.com on ways to boost your EQ in the workplace. For many workers, that involves putting in a lot of face time with the right people. That can make things tricky for fully remote workers like me, for whom face time means, well, FaceTime. Compounding the problem is that my coworkers are in the office three days a week commiserating about their commutes, ducking out together for lunch and chatting before meetings. If you're on the outside looking in, Salemi says you'll have to make a little extra effort to be the kind of person people are eager to throw promotions and raises at, which may feel a little funny at first. "It may feel a little outside of your comfort zone — that's natural," she says. "But hopefully it will come across as genuine and authentic."

Here's Why You Should Retain Ensign Group Stock Now - HCA Healthcare (NYSE:HCA), Ensign Group (NASDAQ:ENSG) 2024-07-03 18:46:00+00:00 - Loading... Loading... The Ensign Group, Inc. ENSG is benefiting from improved service revenues, a series of acquisitions and a strong financial position. An optimistic 2024 business outlook also reinforces investors' confidence in the stock. Zacks Rank & Price Performance Ensign Group carries a Zacks Rank #3 (Hold) at present. The stock has gained 32.2% in the past year compared with the industry's 36.1% growth. The Medical sector and the S&P 500 composite index have increased 6% and 23.7%, respectively, in the same time frame. Image Source: Zacks Investment Research Robust Growth Prospects The Zacks Consensus Estimate for Ensign Group's 2024 earnings is pegged at $4.95 per share, indicating an improvement of 12.6% from the year-earlier reading, while the same for revenues stands at $4.1 billion, implying an 11% increase from the prior-year actual. The consensus mark for 2025 earnings is pegged at $5.46 per share, indicating 10.2% growth from the 2024 estimate. The same for revenues is $4.5 billion, which indicates a rise of 9.4% from the 2024 estimate. Decent Surprise History ENSG's earnings outpaced estimates in two of the trailing four quarters and matched the mark twice, the average surprise being 0.95%. Solid Return on Equity Ensign Group's efficiency in utilizing shareholders' funds can be substantiated by its return on equity of 19.1% as of Mar 31, 2024, against the industry's negative return of 13.8%. A Favorable 2024 Outlook ENSG anticipates revenues within the range of $4.13-$4.17 billion in 2024, the midpoint of which indicates 11.3% growth from the 2023 reported figure. Adjusted earnings per share are estimated to be between $5.29 and $5.47 this year. The midpoint of the outlook indicates 13% growth from the 2023 reported figure. Key Business Tailwinds Ensign Group's revenue growth is primarily driven by increasing service revenues from its enhanced healthcare services provided at skilled nursing, rehabilitation and senior living facilities. An aging U.S. population is expected to sustain the strong demand for ENSG's senior living services while the significant need for effective rehabilitation services, which help individuals return to daily activities, is anticipated to boost its Skilled Services segment's revenues. The strong performance of ENSG's Skilled Services and Standard Bearer segments also contributes to revenue growth. Through the Standard Bearer unit, the company earns rental revenues from leasing post-acute care properties, which it has purchased, to healthcare operators under triple-net lease arrangements. These agreements are advantageous for ENSG as the company not only receives rental income but also passes the property-related costs to the tenants. Ensign Group's inorganic growth strategy is impressive. The company is actively acquiring facilities in various U.S. regions, which allows it to collaborate with local caregiver teams. This approach provides ENSG with a deep understanding of regional needs and enables it to deliver high-quality healthcare services to underserved communities. In June 2024, Ensign Group purchased the real estate and operations of an Arizona-based 32-bed skilled nursing facility, Wellsprings of Gilbert. Concurrently, it also acquired the operations of a skilled nursing facility in Colorado, The Springs at St. Andrews Village. Such proactive growth initiatives expand Ensign Group's healthcare portfolio and national presence. The company currently operates 312 healthcare facilities across several U.S. states and owns 120 real estate assets. Acquisitions remain a top priority for management when deploying capital. To support such continuous business investments, maintaining a solid financial position is essential. Ensign Group boasts strong cash reserves and sufficient cash-generating capabilities. These financial strengths also enable ENSG to reward shareholders through share buybacks and dividend payments. The company has resorted to dividend hikes for straight 21 years. Stocks to Consider Some better-ranked stocks in the Medical space are Tenet Healthcare Corporation THC, HCA Healthcare, Inc. HCA and Stryker Corporation SYK. While Tenet Healthcare sports a Zacks Rank #1 (Strong Buy), HCA Healthcare and Stryker carry a Zacks Rank #2 (Buy) each at present. Tenet Healthcare's earnings surpassed estimates in each of the last four quarters, the average surprise being 56.50%. The Zacks Consensus Estimate for THC's 2024 earnings indicates a 22.5% rise from the prior-year tally. The consensus mark for THC's earnings has moved 35.7% north in the past 60 days. The bottom line of HCA Healthcare outpaced estimates in three of the trailing four quarters and missed the mark once, the average surprise being 5.64%. The Zacks Consensus Estimate for HCA's 2024 earnings indicates a 10% rise while the same for revenues implies an improvement of 7.2% from the respective prior-year figures. The consensus mark for HCA's earnings has moved 0.5% north in the past 60 days. Stryker's earnings outpaced estimates in each of the trailing four quarters, the average surprise being 4.93%. The Zacks Consensus Estimate for SYK's 2024 earnings indicates a 12.7% rise, while the same for revenues implies an improvement of 8.9% from the respective prior-year tallies. The consensus mark for SYK's earnings has moved up 0.8% in the past 60 days. Shares of Tenet Healthcare, HCA Healthcare and Stryker have gained 64.8%, 6.8% and 12%, respectively, in the past year. To read this article on Zacks.com click here.

Harnessing Next-Gen CX Tools With Nextiva: From Omnichannel Interactions To AI And Brand Management 2024-07-03 18:42:00+00:00 - Loading... Loading... In 2024, few factors are as important for business success as customer experience (CX). Over the past few years, CX has emerged as a central factor determining which brands become market leaders – and which fall behind. bes Countless recent statistics underline the importance of CX. Studies show that positive CX can persuade 75% of online shoppers to proceed to checkout. Additionally, these studies show that 83% of people say they trust companies that provide a good customer service experience. Plus, the numbers show that 74% of customers are ready to switch brands if they discover better CX elsewhere, regardless of loyalty. However, providing an outstanding customer experience, while essential, can be tricky. Especially in today's world of fragmented customer communications, with people reaching out to companies via a multitude of different channels and expecting instant responses. Nextiva helps businesses face this challenge. The Unified Customer Experience Management company provides next-gen CX tools in one central access portal. Here's everything you need to know. Centralizing All CX-Related Workflows Some of the greatest challenges businesses face in providing outstanding CX are friction losses and data siloing. Traditionally, CX-related workflows have been spread out over a multitude of platforms: email clients, video conferencing platforms, social media management tools, messaging, and live chat applications, to name but a few. For businesses, this meant that team members needed to hop between numerous apps and face a barrage of different notifications in an attempt to keep up. Furthermore, data frequently was siloed between different teams, with sales sitting on information that could be invaluable to marketing or customer service and vice versa. Nextiva offers an alternative approach. Harnessing its omnichannel platform, it offers one central point of access for all CX-related workflows. It combines voice and video calls, team collaboration, email, messaging, and live chat. Moreover, your team can leverage file sharing, social media management, and brand management tools. The core benefit of this centralization of communication is that all customer interactions live in a single spot. As a result, if your team needs to find information to provide a highly personalized experience, they can instantly access it. They no longer have to root through different sources of information. Using the Power Of AI To Boost Efficiency Another major benefit Nextiva offers users is the seamless integration of cutting-edge AI tools into its systems. To begin with, it offers automatic call transcripts and summaries. If a customer calls for help with an issue, the conversation will automatically be transcribed, summarized and saved – alongside all other interactions this customer has with your brand. As a result, if they call back later, the agent who handles their case can pick up right where their colleague left off. Another fantastic AI element are the chatbots and virtual assistants that Nextiva provides. Easy to customize using no-code applications, these bots can handle 70% of customer interactions, 24/7, in human-like fashion. As for the remaining 30%, they can route the customer to the ideal agent to help them, maximizing productivity on your end and guaranteeing satisfaction for the customer. Finally, Nextiva's AI tools are designed to help businesses scale their operations. Leveraging Analytics And Brand Management Wide-reaching analytics and brand management capabilities round out the extensive feature set of Nextiva's CX solutions. Getting a sense of what people are saying about your brand online is crucial. Nextiva's analytics features can help you gauge your brand reputation and monitor online conversations to unearth significant trends in discourse, both on social media and on review platforms. Plus, you can also get regular reports with aggregate metrics, such as customer satisfaction scores (CSAT). Overall, this information allows you to pinpoint where exactly customers see room for improvement in the CX you offer. As a result, you'll be able to efficiently fine-tune your points of contact and provide a seamless, personalized experience to everyone who interacts with your business. Conclusion: Battling The Fragmentation of CX With Nextiva Providing an outstanding customer experience is essential for businesses in 2024. To do so, it's crucial to overcome challenges such as the fragmentation of customer communication and siloing of data. Nextiva can help you tackle them. With features such as omnichannel communication, efficiency-boosting AI functionalities, and extensive brand monitoring, you'll be able to craft a fantastic, loyalty-inspiring experience for each and every customer. Image provided by Omnichannel. This post was authored by an external contributor and does not represent Benzinga’s opinions and has not been edited for content. The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice. Benzinga does not make any recommendation to buy or sell any security or any representation about the financial condition of any company.

Hendrick Motorsports has dropped sponsor Hooters because restaurant chain could not pay team 2024-07-03 18:37:57+00:00 - CHARLOTTE, N.C. (AP) — Hendrick Motorsports has dropped longtime sponsor Hooters, saying the restaurant chain known for chicken wings and skimpy wait-staff outfits could not meet its financial commitment to the NASCAR team. Hooters had sponsored the No. 9 car driven by NASCAR Cup Series champion Chase Elliott since 2017. Hendrick Motorsports thanked Hooters for it contributions since coming on board “to our shared successes both on and of the track.” But it said the chain could not pay its bills. “Due to these unfortunate and unexpected circumstances, and despite extensive efforts on both sides to identify a workable solution, it became necessary for Hendrick Motorsports to end the relationship,” the team’s statement said. Hooters has recently closed more than 40 locations around the country, according to multiple reports. Messages left for Hooters public relations firm Cookerly PR by The Associated Press were not immediately returned. “Like many restaurants under pressure from current market conditions, Hooters has made the difficult decision to close a select number of underperforming stores,” the company said, according to Nation’s Restaurant News. Hooters broke into NASCAR in the early 1990s, its logo on the car of late NASCAR series champion Alan Kulwicki. It enjoyed similar success with Elliott, who took the drivers’ title in 2020. ___ This story has been updated to correct the formal team name. ___ AP NASCAR: https://apnews.com/hub/nascar-racing

Trader Joe's recalls candles sold nationwide, saying they pose a safety risk 2024-07-03 18:33:00+00:00 - Trader Joe's is recalling its Mango Tangerine Scented Candle sold nationwide because the popular product may pose a safety risk due to "a larger-than-expected flame." Part of a rotating lineup of seasonal candles, the recalled product "may have an unexpected burn pattern," the retailer stated Thursday in an announcement posted on its website. "The candle flame can spread from the wick to the wax causing a larger than expected flame, posing a safety risk." The candles should be thrown out or returned to any Trader Joe's for a refund, the retailer said. Anyone with questions can call Trader Joe's customer relations line at (626) 599-3817 or submit a form on the company's site. Trader Joe's did not state how many of the recalled candles were sold or whether there had been any reports of injuries or fires related to the product. A spokesperson said the recalled candles were made in the U.S. but did not provide additional information. Trader Joe's recalled its Mango Tangerine Scented Candle, pictured here, because of a safety risk related to how it burns. Trader Joe's Now listed as not available on Trader Joe's site, the 5.7-ounce candles had sold for $3.99 at the grocery chain's stores. The recalled candles could still be found at a considerable markup on Amazon, with one seller was offering a pair of the candles for $22.09. One user shared their experience on a private Facebook group page dedicated to Trader Joe's products, saying "just a PSA I recently bought a Mango Tangerine candle that completely caught on fire after I lit it," the user said. Trader Joe's, which is privately held, operates nearly 550 stores in 42 states and the District of Columbia.

CDK Global faces multiple lawsuits from dealerships crippled by cyberattack 2024-07-03 18:30:00+00:00 - CDK Global faces at least eight lawsuits from auto dealerships over cyberattacks that took down the software provider's dealer management system, crippling car sellers' operations. The plaintiffs, who are employees or customers of car dealerships that use CDK tools, allege CDK did not adequately protect customer data and that the personal information of tens of thousands of people was likely exposed in the hack. Tucson, Arizona-resident Omar Aviles, an employee of Asbury Automotive Group, one of CDK Global's roughly 15,000 clients, has filed a proposed class-action suit against the Illinois-based company, alleging it failed to protect the "litany of highly sensitive personal identifiable information" it had stored about former and current auto dealership clients and their customers and employees. The trove of data was exposed due to CDK's "insufficiently protected computer systems," according to the complaint, filed in district court in Illinois. On its website, CDK touts its cybersecurity capabilities, promising to "stop cyberattacks in their tracks." "CDK Cybersecurity Solutions provide a three-tiered cybersecurity strategy to prevent, protect and respond to cyberattacks so you can defend your dealership," the website states. Social Security numbers exposed The suit, by contrast, claims that CDK "had no effective means to prevent, detect, stop or mitigate breaches of its systems — thereby allowing cybercriminals unrestricted access to its current and former clients'" personal data. That data includes Social Security numbers, employment history, driver's license info, financial account details and more. The security failure stems from CDK's inadequate training of its own employees on on cybersecurity, the lawsuit claims. As a result, Aviles "fears for his personal financial security and worries about what information was exposed in the data breach" and is suffering from "anxiety, sleep disruption, stress, fear and frustration." The collection of suits are seeking damages, as well as for CDK to better protect customer information. "It's a disaster" A second lawsuit from a group of dealers including Formula Sports Cars, Prestige Motor Car Imports, Bill Holt Chevrolet of Canton, Bill Holt Chevrolet of Blue Ridge and a pair of consumers, also claims CDK was negligent in protecting its clients. "CDK has failed to uphold its promises and responsibilities that it made throughout the course of its marketing campaigns making users feel at ease," the suit states in part. "It's a disaster," said one affected dealer quoted in the lawsuit, in describing the toll of the breach on his business. "Customers are coming in, we're selling cars, but we can't book the deals, can't finance the deals or get them to the banks. Which means we cannot fund the cars or pay off the cars," he said. Like stitching up a wound without cleaning it After CDK was first breached, it restored its systems, only to be hacked a second time. In their suit, the dealers compare CDK's decision to restore systems without resolving underlying security issues to "a doctor stitching up a wound without first removing all the debris." "Just as a wound not properly cleaned would lead to more infections and prolonged healing, CDK's rush to restore its system led to more breaches and, in turn, left car dealerships exposed to financial losses for longer periods of time," the lawsuit states. CDK has not indicated if it will compensate affected dealerships for any financial losses or potential exposure to identity theft as a result of the cyberattack. A spokesperson for the company did not immediately respond to CBS MoneyWatch's request for comment on the lawsuits.

6 Key Components For Your Home Trading Setup 2024-07-03 18:29:00+00:00 - Loading... Loading... Time is money, and seconds matter when trading. Due to this, you need a powerful computer that can execute your orders as fast as possible. To achieve this, you need to set up your computer properly. Are you wondering which are the key components for your home trading setup? Here they are: Processor/CPU The processor performs all computations, processes instructions, and ensures that your applications execute swiftly and efficiently. Being cheap on this would cause your computer to lock up or freeze, and you don't want this. A decent trading computer should be able to process a significant volume of data quickly. Sometimes, you’ll need to have numerous windows open at the same time, each streaming a tremendous quantity of real-time data, all while performing lightning-fast trades when every second (or less) counts. When selecting a CPU, you should consider its clock speed (measured in GHz), which indicates how quickly it can execute instructions, as well as the number of cores, which indicates how many instructions it can manage. Some CPUs have many cores, allowing them to process different tasks independently, which can significantly outperform single-core trading systems. For trading, you need to use a quad-core configuration with at least 2.8 GHz, but 3.3 GHz or more is preferable. This is one of the best processors for trading, but there are better options that you can find at Boost Hardware. Check them out. RAM RAM (Random Access Memory) helps you to accomplish daily operations on your machine. To put it simply, the more RAM you have, the more tasks you can complete at once. So, while the CPU is responsible for receiving and executing commands, without enough RAM, you can’t even have those programs open at the same time to send those commands. The good thing is that RAM is inexpensive. While this is the case, you should note that there are lower and high end RAM. The key difference between lower and higher-end versions is the memory clock speed, which is similar to the CPU clock speed. For trading purposes, you won’t notice much of a difference in higher-end RAM unless you want to do intensive Photoshop and video editing work while running five platforms at the same time. Even if you are into 1080p gaming, 32 GB of RAM is overkill, making it completely unneeded for trading. In most cases you can do with 8GB – 16 GB of RAM. Graphic Cards The optimum graphic card for your trading PC is determined by how many monitors you use simultaneously. While some traders make do with only one or a few monitors, each running numerous windows or split screens, the majority of successful traders eventually move to a high number of displays to successfully watch more stocks at once. Your graphics card is powered by GPU, which is essentially RAM dedicated to graphics processing. For the best outcome, your trading machine should include a graphics card with at least 2 GB of GPU. Multiple Monitors As a trader, you need to keep an eye on several things at once. A decent trading computer build should be able to run multiple monitors at the same time, giving you instant access to the data you need without having to switch between different tabs or windows. The number of monitors you need for your trading PC is a personal decision, depending on your expertise and what works best for you. You can choose from a wide range of wall mounts and desk mounts to arrange your monitors exactly how you like. While this is the case, the resolution of your display is an important consideration. The resolution of a monitor determines the quality and clarity of the images displayed. For your trading PC, your displays should display sharp, high-quality images so that you can swiftly digest the vast amount of real-time information on them. For the best outcome, ensure that your trading computer monitors have a resolution of 1080p since this will provide you with some of the best visuals. The cool thing is that high-quality monitors are often inexpensive, so you won’t have to spend a fortune on the ideal display setup for your trading strategies. Internet This is self-explanatory. You want something fast and dependable that won’t cut in and out while you’re making your trades. You should note that without a steady internet connection, you will be unable to trade properly, regardless of whether you have a $10,000 computer setup. You should undertake comprehensive research on all of the internet providers in your area, as well as ask your neighbors about their internet connection and how steady it is. When it comes to trading, the most crucial factor is reliability. If a connection is slower but significantly more dependable than a faster but unreliable counterpart, choose the former. When traveling, always ensure that you have access to a dependable internet connection or avoid trading altogether. Trading with iffy public WiFi is a no-go. Aside from the fact that it will most likely be slow due to 100 people using it at the same time, you are also putting your account information in danger from hackers. Instead of connecting to the WIFI, find a place that allows you to communicate via an Ethernet wire immediately. This is because direct connections are more dependable than WiFi. Hard Drive Solid State Drives (SSD) have fast become the standard for new devices, and for trading, and you should go for them. SSDs access data far quicker than traditional hard drives, allowing your computer to start up and open apps much faster. Putting It All Together As much as you want a powerful trading setup, you shouldn't spend a fortune on it, as there are plenty of cheaper ways to go about it. Take the time to shop around and see what is available for you. When you are setting up the computer, you have the option of spending your money purchasing your trading computer in components and then assembling it yourself or hiring a local computer specialist to do so for you. It's all up to you. Image sourced from Pexels. This post was authored by an external contributor and does not represent Benzinga’s opinions and has not been edited for content. The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice. Benzinga does not make any recommendation to buy or sell any security or any representation about the financial condition of any company.

Hunter Biden accuses Fox News of distributing 'revenge porn' of him in mock trial miniseries 2024-07-03 18:28:20+00:00 - Hunter Biden has filed a lawsuit against Fox News, accusing the network of distributing “revenge porn” in its miniseries of a mock trial over imaginary criminal charges against him. Filed in New York state court on Sunday, the lawsuit accuses the network of engaging in “unlawful commercial exploitation of Mr. Biden’s image, name, and likeness” in its six-part miniseries, “The Trial of Hunter Biden.” Although the series is fictional, it points to real stills and videos that show the president's son unclothed, with his intimate parts exposed and engaging in sex acts. “Fox published and disseminated these intimate images to its vast audience of millions as part of an entertainment program in order to humiliate, harass, annoy, and alarm Mr. Biden and to tarnish his reputation,” the complaint states. Fox News called Biden’s lawsuit “politically motivated” and “devoid of merit.” “Hunter Biden is a public figure who has been the subject of multiple investigations and is now a convicted felon,” a network spokesperson said. “Consistent with the First Amendment, Fox News has accurately covered the newsworthy events of Mr. Biden’s own making, and we look forward to vindicating our rights in court.” Biden last month was convicted on federal charges of lying to obtain a firearm, which he is appealing. He is also set to stand trial in a federal tax case in September. But the Fox News series, released on its streaming service in October 2022, is centered on a mock trial over hypothetical charges of illegal foreign lobbying and bribery against the president's son, crimes he has never been charged with. Biden threatened to sue the network in April, prompting Fox News to quickly remove the series from its platforms. Months later, Biden has made good on his threat. The lawsuit alleges that Fox News' publication of his nude images violates New York's statute on the distribution of intimate photos of a person without their consent. It also seeks damages from Fox News — which already reached a $787 million settlement with Dominion Voting Systems last April and is battling it out in court with Smartmatic in a separate defamation lawsuit — and an order to remove any copies of the explicit images from the network's platforms.

Romance scams cost consumers $1.14 billion last year. It's a 'more insidious' fraud, expert says 2024-07-03 18:28:00+00:00 - Cybercriminals are targeting wealth accounts by tapping into a victim's emotions. So-called romance scams involve building a relationship and trust with the victim so that the target willingly provides access to their accounts or transfers money to the criminal, explained Tracy Kitten, the director of fraud and security at Javelin Strategy & Research, a financial research services firm. Consumers lost $1.14 billion to romance scams in 2023, according to the Federal Trade Commission. Median losses per person amounted to $2,000, the highest reported losses for any form of imposter scam, the FTC found. "Romance scams tend to be some of the more insidious because they prey on emotions," Kitten said. "These things happen in real life, these aren't just shows that we see on Netflix." More from Personal Finance: What Taylor Swift's The Eras Tour says about 'passion tourism' FAFSA issues force tough choices for would-be college students 'NEETS' and 'new unemployables': Why fewer young adults are working "What people need to realize is that people behind these types of scams could teach a master class in human behavior," said Theresa Payton, a former White House chief information officer who is now the CEO of cybersecurity firm Fortalice Solutions. "They know the different emotional trigger points that we all have, and that's when they strike," Payton added.

What Happened With Tesla's Chinese Rival Li Auto Shares Today? - Li Auto (NASDAQ:LI) 2024-07-03 18:23:00+00:00 - Loading... Loading... Li Auto Inc. LI experienced a rise in its stock price today, buoyed by gains in Chinese EV stocks amid positive market sentiment. This follows multiple companies in the sector announcing their delivery figures earlier this week. Meanwhile, Li Auto has reportedly enhanced its car purchase incentives to boost sales, CnEV Post reported. Until July 15, buyers of any Li Auto model can enjoy up to approximately RMB17,000 in benefits and opt for a zero down payment. Li Auto announced these incentives to commemorate its ninth anniversary. Currently, the company offers the L-series of extended-range electric vehicle (EREV) models—Li L6, Li L7, Li L8, Li L9—and the all-electric Li Mega MPV (multi-purpose vehicle). Also Read: Ford Reports Q2 Sales Growth: Trucks Up 5%, EVs Surge 61%, Trails Tesla In Volume Li Auto introduced a new 0 down payment option, boasting an annualized interest rate as low as 2.5% and highlighting that costs to consumers could be as little as RMB154 per day. In December last year, Li Auto achieved a milestone with a record-breaking 50,353 vehicle deliveries in a single month. However, after launching the Li Mega on March 1, the company experienced a sharp decline, delivering fewer than 30,000 units in both March and April. During the second quarter, Li Auto saw a 25.5% increase in year-on-year vehicle deliveries, totaling 108,581 units, marking a 35% rise from the first quarter. Currently, Li Auto is expanding its charging infrastructure in preparation for the launch of more Battery Electric Vehicles (BEVs) next year, CnEV Post added. Related: Tesla Stock Soars On Q2 Delivery Beat: Chart Signals Strong Bullish Momentum As of now, the company operates 618 supercharging stations with around 3,000 charging piles. It aims to increase these numbers to more than 2,000 stations by the end of this year and 5,000 by the end of 2025. Originally planned for later this year, Li Auto has postponed the launch of three additional BEV models to the first half of next year, the report added. Price Action: LI shares closed higher by 6.53% to $20.72 on Wednesday. Image via Shutterstock Read Next:

The July 4th holiday rush is on. TSA expects to screen a record number of travelers this weekend 2024-07-03 18:22:42+00:00 - WEST PALM BEACH, Fla. (AP) — Nicole Lindsay thought she could beat the holiday-week travel rush by booking an early-morning flight. It didn’t work out that way. “I thought it wouldn’t be that busy, but it turned out to be quite busy,” the Baltimore resident said as she herded her three daughters through Palm Beach International Airport in Florida. “It was a lot of kids on the flight, so it was kind of noisy — a lot of crying babies.” Lindsay said the flight was full, but her family arrived safely to spend a few days in Port Saint Lucie, so she was not complaining. Airlines hope the outcome is just as good for millions of other passengers scheduled to take holiday flights over the next few days. AAA forecasts that 70.9 million people will travel at least 50 miles (80 kilometers) from home over a nine-day stretch that began June 27, a 5% increase over the comparable period around the Fourth of July last year. Most of those people will drive, and the motor club says traffic will be the worst between 2 p.m. and 7 p.m. most days. Federal officials expect air-travel records to fall as Americans turn the timing of July Fourth on a Thursday into a four-day — or longer — holiday weekend. The Transportation Security Administration predicts that its officers will screen more than 3 million travelers at U.S. airports on Sunday. That would top the June 23 mark of more than 2.99 million. American Airlines said Sunday is expected to be its busiest day of the entire summer; it plans more than 6,500 flights. TSA was created after the terror attacks on Sept. 11, 2001, and replaced a collection of private security companies that were hired by airlines. Eight of the 10 busiest days in TSA’s history have come this year, as the number of travelers tops pre-pandemic levels. The head of the agency, David Pekoske, said Wednesday that TSA has enough screeners to handle the expected crowds this weekend and through the summer. “We have been totally tested over the course of the last couple of months in being able to meet our wait-time standards of 10 minutes for a PreCheck passenger and 30 minutes for a standard passenger, so we are ready,” Pekoske said on NBC’s “Today” show. Peggy Grundstrom, a frequent traveler from Massachusetts who flew to Florida to visit her daughter and granddaughter, said the line for security in Hartford, Connecticut, was unusually long. “It was busier than I have personally seen in the past,” Grundstrom said. “But, you know, I prefer to fly unless it’s very local. I’m at a stage where I don’t want to travel in a car for long periods of time.” Passengers on a Delta Air Lines flight from Detroit to Amsterdam on Wednesday had to put their travel plans on hold for several hours when the plane landed in New York because spoiled meals were served in the main cabin shortly after takeoff. Delta apologized to passengers “for the inconvenience and delay in their travels.” ___ Koenig reported from Dallas.

Work proceeds on utility corridor that was subject of fierce debate in Maine 2024-07-03 18:20:57+00:00 - PORTLAND, Maine (AP) — Workers are installing hundreds of utility poles and stringing power lines on them as construction proceeds on a much-delayed project to bring Canadian hydropower-generated electricity to 1 million homes in New England. A report filed with state regulators this week indicates that construction crews have erected 441 poles for the 145-mile (233-kilometer) line, with wires installed on 178 of them, and that progress is being made other parts of the New England Clean Energy Connect, which has been plagued by delays, litigation and a referendum in which Maine voters rejected it. Avangrid, which partnered with Hydro Quebec on the project, expects it to be be completed by late next year. Avangrid, parent of Central Maine Power, declined to comment when reached. The cost of the project grew from $1 billion to at least $1.5 billion because of inflation and delays caused by opponents, requiring the Massachusetts Legislature to give its approval for most of the additional costs to be passed on to ratepayers. Negotiations are continuing in Massachusetts on how the added costs will be divvied up. Supporters of the project say the 1,200 megawatts of electricity it provides would lower rates across the region and reduce carbon pollution. Critics contend that it will destroy woodlands and fail to deliver on promised environmental benefits.

Maryland OKs $50.3M contract for removal of bridge collapse debris 2024-07-03 18:18:50+00:00 - ANNAPOLIS, Md. (AP) — A Maryland board led by Gov. Wes Moore approved a $50.3 million emergency contract on Wednesday to pay a Swedish construction company that removed debris from the March collapse of the Francis Scott Key Bridge. While the work to remove debris from the federal channel in the Patapsco River was done by the U.S. Army Corps of Engineers, Maryland entered into the emergency contract with Skanska USA Civil Southeast Inc. in April to remove debris from other channels that could then be used by salvage and commercial vessels after the collapse. Skanska was chosen because it had successfully demolished the existing Nice/Middleton Bridge across the Potomac River, according to state records. The company was considered qualified and equipped to perform similar operations that were needed expeditiously in the bridge collapse. Marshall Brown, speaking on behalf of the Laborers-Employers Cooperation and Education Trust in the Mid-Atlantic Region, spoke against the contract at a Board of Public Works meeting on Wednesday. He said Maryland had had time to consider numerous available contractors that could have been mobilized to do the work. He said the emergency no-bid contract went against a state procurement process that is designed to be fair, competitive and transparent. “This no-bid contract does not meet the standards,” Brown said. “For those reasons, we stand firmly against the approval of this contract.” But Bruce Gartner, executive director of the Maryland Transportation Authority, said the state’s engineers used their best professional judgment in an emergency and chose a company that already was doing work in the state. “They were somebody that was available in the proximity, and we had knowledge that they could follow state procurement law and be responsive to the situation at hand,” said Gartner, who noted that the bridge collapse was “one of the most significant emergencies we’ve ever had.” Procuring the debris removal through competitive bidding would have delayed the removal by a minimum of eight months, according to board documents. At the board meeting, Moore said much work remains to rebuild the bridge, which he described as crucial to Maryland’s and the national economy. “We need to get it rebuilt,” Moore said. “The Port of Baltimore is an essential artery for economic flow, economic activity across the country, and to put it simply, our focus on getting this done is not about nostalgia, it’s about necessity.” The governor, a Democrat, thanked President Joe Biden’s administration for including a 100% federal cost share for the rebuild in a supplemental budget to Congress last week. Moore said he has been working to build a bipartisan coalition for the rebuild. Maryland has estimated the cost of a new bridge to be between $1.7 billion and $1.9 billion. The state plans to build a new span by the fall of 2028. Shortly after leaving the Port of Baltimore early on March 26, the cardo ship Dali lost power and propulsion and crashed into one of the bridge’s supporting columns, causing its collapse and killing six construction workers.