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Biden drops out of 2024 presidential election, endorses Kamala Harris as Democratic nominee 2024-07-21 18:49:00+00:00 - President Joe Biden on Sunday dropped out of the 2024 presidential race and endorsed Vice President Kamala Harris as the Democratic Party's nominee, bowing to weeks of growing pressure by his own party members to quit his re-election bid against former President Donald Trump. "It has been the greatest honor of my life to serve as your President," Biden wrote in a post on the social media site X. "And while it has been my intention to seek reelection, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as President for the remainder of my term," Biden wrote. "I will speak to the Nation later this week in more detail about my decision," wrote Biden, whose bombshell decision came after a sharp spike in recent days in the number of congressional Democrats publicly calling for him to step aside for another nominee. Biden in a subsequent tweet wrote that his "very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President." "And it's been the best decision I've made. Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year. Democrats — it's time to come together and beat Trump," Biden wrote. "Let's do this." Harris in a statement said, "I am honored to have the President's endorsement and my intention is to earn and win this nomination." Former President Bill Clinton and former Secretary of State Hillary Clinton, in a joint statement from the Democratic power couple, said, "We are honored the join the President in endorsing Vice President Harris and will do whatever we can to support her." Biden, who has been isolated at his Rehoboth, Delaware, beach home after being diagnosed with Covid-19, and Harris spoke on Sunday before he announced he would drop out of the election race. NBC News reported that Biden at 1:45 p.m. ET Sunday told his senior campaign team that he had changed his mind about remaining in the contest. Trump in a phone interview with NBC News said of Biden's decision, "He should never have been there in the first place." "He should have stayed in his basement," said Trump, who was formally nominated as the Republican Party's candidate last week, days after narrowly avoiding being killed in an assassination attempt at a Pennsylvania campaign rally on July 13. Democratic National Committee Jamie Harrison in a statement said, "In the coming days, the Party will undertake a transparent and orderly process to move forward as a united Democratic Party with a candidate who can defeat Donald Trump in November." "This process will be governed by established rules and procedures of the Party. Our delegates are prepared to take seriously their responsibility in swiftly delivering a candidate to the American people," Harrison said.
What's New In the Consumer Tech World Last Week? News That You Should Know (July 14 - July 20, 2024) - Apple (NASDAQ:AAPL), (NASDAQ:AMZN) 2024-07-21 18:45:00+00:00 - Loading... Loading... Experts believe that Japan’s increasing dependence on foreign digital services like Amazon AMZN Prime and YouTube Premium by Google Inc. GOOGL GOOG is contributing to a rising “digital deficit,” potentially pressuring the yen’s value. Two decades after implementing the “great firewall,” Xi Jinping-led Chinese government is reportedly testing artificial intelligence systems to ensure they align with socialist values. The Cyberspace Administration of China is compelling tech giants and AI startups, including ByteDance, Alibaba Group Holding Ltd. BABA, Moonshot, and 01.AI , to participate in a mandatory government review of their AI models. The U.S. Customs and Border Protection has found that the redesigned Electrocardiography in the Apple Watch does not violate patents held by AliveCor, a medical device company. This ruling further complicates AliveCor’s legal challenges against Apple Inc. AAPL. Also Read: Microsoft’s ‘iPhone Moment’? Wedbush Analyst Dan Ives Expects AI To Add $1 Trillion To Valuation Gaming , Telecom & Media Netflix NFLX has decided to discontinue its most affordable ad-free subscription plan in the United States and France beginning Thursday. Telecom giant AT&T Inc. T allegedly paid a hacker around $400,000 to delete sensitive data they are said to have stolen. About 82% of American gamers made in-game purchases in freemium titles last year, according to Comscore’s 2024 State of Gaming Report (via Warner Bros. Discovery Inc’s WBD Warner Bros. Games and NetherRealm Studios lifted the veil on the final DLC character for “Mortal Kombat 1” — Takeda Takahashi. Microsoft Corp.’s MSFT Activision has officially confirmed the beta dates for “Call of Duty: Black Ops 6,” marking a significant milestone for the franchise. Microsoft has unveiled a new Xbox controller inspired by none other than Deadpool himself. Nintendo ADR NTDOY recently teased a mysterious new project with the hashtag “#WhoIsEmio?” and a cryptic 15-second video. Larian Studios has officially announced details for the eagerly awaited Patch 7 for “Baldur’s Gate 3.“ Smartphones In the second quarter of 2024, both Apple and Samsung Electronics Co. SSNLF experienced a rise in smartphone shipments. However, the two tech giants saw a decrease in their overall market shares due to stiff competition from Chinese rivals. After unveiling it at the Worldwide Developers Conference (WWDC) in June, Apple has started rolling out the first iOS 18 public beta to eligible iPhones. Apple has given the green light to UTM SE, the first PC emulator for iPhone and iPad. This decision comes after the tech giant initially rejected the app, despite revising its App Store guidelines to allow game emulators. Also Read: 6 New Hidden iPhone Features You Probably Haven’t Discovered Yet on iOS 18 Apple could end up pushing back the use of Taiwan Semiconductor’s TSM 2-nanometer chip technology for its upcoming iPhone 17 series. Apple should beat last year’s Prime Day results due to “early access deals,” analysts say. Top analyst Ming-Chi Kuo has cast doubt on the anticipated surge in Apple's upcoming smartphone series, iPhone 16 sales. Technology & Artificial Intelligence (AI) Google has been testing the integration of Ultra HDR image capture into a limited camera API for Android 14. Microsoft launched its AI image generation tool, Microsoft Designer, as a free iOS app, outpacing Apple as the world waits for the iPhone maker to introduce Apple Intelligence. Apple has stated that its OpenELM model is not used to power any of its AI or machine learning features, including Apple Intelligence. AI startup Anysphere, the creator of an AI code editor named Cursor, is in the process of raising funds. The valuation of this round is a significant jump from the previous one. Researchers from the University of Tokyo have successfully attached living skin tissue to robotic faces, enabling them to “smile.” The smiling robot, featured in a study published by Cell Reports Physical Science, is the culmination of a decade-long research by Shoji Takeuchi and his team on the fusion of biological and artificial machines. Also Read: Photo: Shutterstock
With Biden's backing, Kamala Harris leads the pack in bid to replace him on the ticket 2024-07-21 18:27:00+00:00 - Vice President Kamala Harris received President Joe Biden’s backing Sunday to take his place as the Democratic presidential nominee, an endorsement he made after announcing he is abandoning his re-election bid. Biden’s decision to bow out breaks open the nominating process — meaning Harris or any other Democrat could seek the party’s nomination. The delegates who were elected during the primary to support Biden will now be tasked with voting on who will be the party’s nominee. The Democratic National Convention is scheduled to begin Aug. 19 in Chicago, and with Biden’s backing, Harris became the instant favorite. Harris, the first female vice president, would become the first Black woman and first person of South Asian descent to become a major-party nominee. “I am honored to have the President’s endorsement and my intention is to earn and win this nomination," she said in a statement after Biden's announcement and endorsement. "I will do everything in my power to unite the Democratic Party—and unite our nation—to defeat Donald Trump and his extreme Project 2025 agenda. “We have 107 days until Election Day. Together, we will fight. And together, we will win,” she said. Follow live updates on Biden's election withdrawal Biden’s historic and unprecedented decision to withdraw comes amid concerns over his age and mental sharpness sparked by his disastrous debate performance in June against former President Donald Trump. At 59, Harris is 22 years younger than the 81-year-old Biden. The daughter of immigrant parents — an Indian mother and a Jamaican father — the Oakland, California, native first made a name for herself as a prosecutor in the San Francisco district attorney’s office and was elected as the DA in 2003. She first rose to national prominence after becoming California attorney general in 2010. She was elected to the U.S. Senate in California in 2016, becoming the second Black woman and first South Asian woman to serve in the chamber. Tory Gavito, president of Way to Win, a national strategy hub for donors aligned with Democratic causes that in recent weeks invested money studying how to bolster Harris, said she believes she is the right person to be on the top of the ticket now that Biden has stepped aside. “We are ready to lock in and support Vice President Harris in her new role,” Gavito said. “She’s had a stellar track record in all of her political positions. She has refined her case for voting rights, her case for reproductive freedoms, her ability to govern on the economy and she’s ready.” Harris jumped into the 2020 presidential primary campaign in January 2019 during a rally in Oakland that drew about 20,000 people, but her fundraising and poll numbers began lagging that summer after the Democratic debates. She withdrew from the race in December, before the primaries started. Harris, who had pointed exchanges with Biden during the debates, was named his running mate in August 2020. At times, she struggled to find her footing during the first years of her vice presidency but gained prominence as the 2024 campaign ramped up. In particular, she spearheaded outreach to Black and Asian American voters, the former being a core demographic for Biden. As some Democrats began to lose confidence in the president’s ability to remain on the ticket, many began to voice support for her taking his place. Trump also began attacking Harris more forcefully in his campaign speeches. Some Democrats — publicly and privately — have questioned whether Harris is the best person to become the party’s nominee. But those doubts were largely quieted after several Black lawmakers and Democratic strategists said passing over Harris should be a nonstarter. They argued that she was the most qualified to do the job, having served alongside Biden, and that Democrats, a party whose most loyal voters are Black women, could not skip over her and anger their base. Biden, who at the time was still insisting he would remain in the race, also made clear during a July 11 press conference that he believed Harris was qualified to be president. “From the very beginning, I made no bones about that,” Biden said. “She is qualified to be president. That’s why I picked her.” Trump also began recently attacking Harris more forcefully in his campaign speeches. And Trump’s campaign, along with his running mate Sen. JD Vance, of Ohio, have sought to paint Harris as an extremist. Still, Gavito said Way to Win’s research and polling in battleground states from the past few weeks has shown Harris had a “significant boost” from “younger voter segments that Biden has struggled with” and performed well among voters of color and women. “Harris has done a lot to bring in really fundamental parts of our base, and I’m excited to see voters that have been in a column of not interested in either party get excited,” Gavito said. The selection of Harris as the nominee would end the possibility of an ugly floor fight at the convention, and would have major financial benefits for the vice president and the party as well. Campaign finance law experts have told NBC News that it is likely that Biden’s campaign war chest could be transferred to Harris because she was his running mate. Any other candidate would likely have to raise new money for his or her campaign.
Joe Biden, once considered too young to serve, now seen as too old to win 2024-07-21 18:19:00+00:00 - WASHINGTON — So ends the half-century career of a flawed but resilient politician who won the White House in a razor-thin election and lost it four years later in a debate: Joseph Robinette Biden Jr. Biden, 81, now eases into a lame-duck presidency for the next six months, as the party he once commanded abandoned him in the span of a few weeks for an as-yet-unnamed candidate to carry the fight against Donald Trump. Biden’s collapse began with a June 27 debate against Trump, when he turned in a disastrous performance from which he couldn’t recover. An elderly president with his mouth agape, he struggled to complete a sentence or finish a thought. One by one, Democratic leaders who watched in alarm broke their polite silence and openly called on him to step aside. Follow live updates on Biden's presidential election withdrawal Stunning as his fall may be, Biden may be better prepared than most to deal with repudiation. Few presidents in history have endured as much tragedy and disappointment as the 46th. Biden’s life has careened between unexpected triumph and unimaginable loss. He won elections and lost them. He built a family, lost part of it, rebuilt it, and lost part of it once more. Hardened by experience, Biden seems to grasp that political partnerships are transactional: They come with an expiration date. If you want a friend in Washington, “get a dog,” Biden said at an NAACP convention on July 16, invoking former Democratic President Harry Truman’s famous dictum.
Labour urged to follow through on Tories’ promised £100m gambling levy 2024-07-21 17:31:00+00:00 - Keir Starmer has been urged to follow through on the previous government’s plan for a £100m-a-year levy on gambling companies. In an open letter to the prime minister, “deeply concerned” advocates of the proposal issued a warning that a delay could cost lives. The Conservatives published a white paper on reform of gambling regulation last year but many of its proposals have been left up in the air by Labour’s election victory. One significant measure yet to be finalised is a statutory levy on gambling companies’ revenues to fund research into problem gambling, education and treatment. The levy was expected to raise £100m, which would be spread between the NHS, which would oversee treatment; UK Research and Innovation, for research into gambling harms; and the Office for Health Improvement and Disparities, looking at harm prevention. However, the plan was not included in policy proposals laid out in the king’s speech last week. Campaigners for gambling reform have also expressed misgivings about ties between senior Labour politicians and the betting industry and what impact the relationships might have on the future of plans set out in the white paper. In their open letter to Starmer, members of the House of Lords, campaigners and academic researchers called on the government to publish its response to a public consultation on the levy and implement legislation to enact it. “For years, the gambling industry exerted influence over the research, prevention and treatment of gambling-related harm by providing inadequate funding through a voluntary system,” they said. Writing that they were “deeply concerned by the delay to enact a statutory levy”, the letter’s signatories called on the government to press on with it. “This commitment has received support from all sides of the political debate, as well as leading NHS clinicians and academic experts,” they said. They said any delay “will lead to further harm to mental health, damage communities across the country and, ultimately, will cost lives”. Signatories include the chief executive of the Samaritans, eight members of the House of Lords, academics and campaign groups. Gambling-related harm is expected to come into sharper focus this week when the Gambling Commission publishes figures based on a new set of methods. These figures are expected to indicate that rates of problem gambling may be higher than previously thought. When the regulator issued an experimental survey using the new methods in November last year, it showed that 2.5% of the population may be suffering from problem gambling;the previous estimate was 0.3% estimate. skip past newsletter promotion Sign up to Business Today Free daily newsletter Get set for the working day – we'll point you to all the business news and analysis you need every morning Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion The commission is also expected to publish evidence of the links between gambling and suicide. Supporters of the levy say the current system of voluntary donations gives the industry too much influence over funding intended to help the very people that bookies and online casinos make their money from. A government spokesperson said: “As stated in the government’s manifesto, we are absolutely committed to reducing gambling-related harm. “We will ensure responsible gambling and strengthen protections for those at risk.” Some measures included in the white paper are already set to go ahead, including a cap of between £2 and £5 on digital slot machine stakes, while a pilot scheme testing the effectiveness of affordability checks to stop punters losing vast sums is under way. Other proposals have been left in limbo by the change of government, including proposals for a gambling ombudsman to settle disputes between customers and operators. The white paper avoided action to curb gambling advertising, although Premier League teams will voluntarily forgo betting sponsors on the front of shirts from the season after next.
UK doctors and travel firms warn of backlog after global IT outage 2024-07-21 17:19:00+00:00 - NHS patients have been warned GP services “cannot be resumed immediately”, and stranded holidaymakers told it could take “days” to get them to their destinations, as the effects of Friday’s global IT outage continue. CrowdStrike, the cybersecurity company at the heart of the crisis, said on Sunday that it had deployed a fix for the “defect” with its software, which has caused chaos around the world for businesses that use Microsoft operating systems. But the outage has caused a backlog to crucial services, including the NHS, which will take time to clear, the British Medical Association (BMA) said. “Friday was one the toughest single days in recent times for GPs across England,” said Dr David Wrigley, deputy chairman of GPC England, the representative body for GPs at the BMA. “Without a clinical IT system, many were forced to return to pen and paper to be able to serve their patients. “While GPs and their teams worked hard to look after as many as they could, without access to the information they needed much of the work has had to be shifted into the coming week.” Wrigley said the temporary loss of the Emis patient record system used by GPs had led to a “considerable” backlog. He added: “Even if we could guarantee it could be fully fixed on Monday, GPs would still need time to catch up from lost work over the weekend, and NHS England should make clear to patients that normal service cannot be resumed immediately. People dialling the NHS 111 telephone line, for urgent health problems that are not life-threatening, were told that the outage meant that information given to call handlers might not be passed on to hospitals or clinics that callers were told to visit. Computer systems affected by the CrowdStrike problem, triggered by a software update on Friday, have largely returned to normal. But the knock-on effect on crowded summer holiday flight schedules means the global air travel network is still suffering disruption. Some stranded air passengers were warned it could take “days” to get them to their destination and that there may be no accommodation for them in the meantime, as hotels are busy during the peak summer holiday season. The no-frills airline Wizz Air said its systems were up and running but warned that flight schedules would take “some time to return to normal”. The airline said customers could rebook or seek refunds via their online accounts. But it admitted that it might not be able to find stranded passengers suitable accommodation, promising to reimburse customers if they could find a place to stay “within a reasonable amount”. It did not specify what it considered reasonable. Travel firm TUI said it had cancelled 11 flights from five UK airports on Sunday, after axing 32 flights from 10 airports on Friday, blaming the effect of the CrowdStrike outage on its airline’s crewing system. Terrible service from TUI. Got to the airport at 3am to be told no aircraft or crew for our flight. No apologies or anything. Told to go home and wait for an update. £100 return in a taxi, to be told at 10.30am it’s cancelled with no alternative flight. — Rachel Adam’s (@RachelA95381055) July 21, 2024 The cancellations mean some package deals have been called off at short notice. Flight and hotel customers who were due to travel on a cancelled flight will be able to change their holiday to any other TUI package without paying admin fees, including a 10% “rebooking incentive” if the new holiday is more expensive. Customers will also receive a £200 voucher for future trips, or £100 for children. Those who wish to cancel will receive a full refund, as well as the voucher. Flight-only customers will automatically receive a refund on cancelled trips. On Friday, the UK’s Civil Aviation Authority wrote to airlines reminding them of their obligations to help travellers with replacement flights, and refreshments and accommodation when needed. It told them that the outage was likely to be regarded as “extraordinary circumstances”, which meant they would not have to pay fixed compensation. Airlines’ battle to return to normal service were not helped by weather-related restrictions imposed over European skies on Saturday. EasyJet said it was not affected by the CrowdStrike outage but was still wrestling with the flight backlog caused by bad weather. It said customers could rebook or receive a refund, hotel accommodation and meals when required. On Sunday, CrowdStrike said that the outage had been identified and that “a fix has been deployed.” “We understand the gravity of this situation and are deeply sorry for the inconvenience and disruption.”
Anti-whaling campaigner arrested in Greenland and police say he may be extradited to Japan 2024-07-21 17:14:28+00:00 - BERLIN (AP) — Greenland police said they arrested a veteran environmental activist and anti-whaling campaigner on Sunday on an international arrest warrant issued by Japan. Paul Watson was arrested when his ship docked in Nuuk, Greenland’s capital, a police statement said. He will be brought before a district court with a request to detain him pending a decision on his possible extradition to Japan, the statement said. The Captain Paul Watson Foundation said that more than a dozen police boarded the vessel and led Watson away in handcuffs when it stopped to refuel. The foundation said the ship, along with 25 volunteer crew members, was en route to the North Pacific on a mission to intercept a new Japanese whaling ship. “The arrest is believed to be related to a former Red Notice issued for Captain Watson’s previous anti-whaling interventions in the Antarctic region,” the foundation said in an emailed statement. “We implore the Danish government to release Captain Watson and not entertain this politically-motivated request,” Locky MacLean, a foundation director, said in the statement. Greenland is an autonomous territory of Denmark. Watson, a 73-year-old Canadian-American citizen, is a former head of the Sea Shepherd Conservation Society whose direct action tactics, including high-seas confrontations with whaling vessels, has drawn support from A-list celebrities and featured in the reality television series “Whale Wars.” However, it has also brought him into confrontation with authorities. He was detained in Germany in 2012 on a Costa Rican extradition warrant, but skipped bail after learning that he was also sought for extradition by Japan, which has accused him of endangering whalers’ lives during operations in the Antarctic Ocean. He has since lived in countries including France and the United States. Watson, who left Sea Shepherd in 2022 to establish his own organization, was also a leading member of Greenpeace, but left in 1977 amid disagreements over his aggressive tactics. According to his foundation, Watson’s current ship, the M/Y John Paul DeJoria, was due to sail through the Northwest Passage to the North Pacific to confront a newly built Japanese factory whaling ship, “a murderous enemy devoid of compassion and empathy hell bent on destroying the most intelligent self-aware sentient beings in the sea.”
Best Performing Mid Cap Stock In The Last Week - VF (NYSE:VFC), Riot Platforms (NASDAQ:RIOT) 2024-07-21 17:03:00+00:00 - Loading... Loading... These eleven mid-cap stocks were the best performers in the last week. Are they in your portfolio? Virtu Financial, Inc. VIRT shares jumped 30.04% after reporting better-than-expected Q2 financial results. V.F. Corporation VFC stock upped 22.38% after the company announced it entered into a Stock and Asset Purchase Agreement to sell its Supreme brand to EssilorLuxottica ESLOF for $1.5 billion in cash . Several analysts raised their price forecasts on VFC. New Fortress Energy Inc. NFE shares grew 20.19% after the company announced that it achieved First LNG for its initial Fast LNG asset located offshore Altamira, Mexico. Riot Platforms Inc RIOT stock gained 16.06% in the last week amid a rise in the Bitcoin price. Clarivate Plc CLVT stock grew 14.41%. The company partnered with Ohio Libraries Partner to enhance resource sharing by 2025. AMN Healthcare Services, Inc. AMN stock rose 14.22%. BankUnited, Inc. BKU stock rose 13.42% after the company reported better-than-expected Q2 financial results. Marathon Digital Holdings Inc.'s MARA stock soared 12.67% last week on the back of Bitcoin gains. eXp World Holdings Inc EXPI stock was up 12.34%. Zeta Global Holdings Corp ZETA was up 11.87% in the last week as several analysts raised their price forecasts on the stock. NCR Atleos Corporation NATL shares increased 11.39%. The company disclosed that the $2.3 billion-asset Black Hills Federal Credit Union (BHFCU) has expanded its partnership with Atleos by selecting ATM as a Service (ATMaaS) and ITM as a Service (ITMaaS) to enhance self-service banking. Also Read: Photo via Shutterstock
Boeing 'disappointed' customers but is on the path to 'transformational change,' commercial jet CEO says 2024-07-21 17:03:00+00:00 - LONDON — Boeing 's output of 737 Max planes is showing signs of improvement, the new head of its commercial unit said ahead of a major air show on Sunday, while admitting that the manufacturer has "disappointed" customers with delayed planes. Boeing is trying to get past several safety and manufacturing crises, including the midair door plug blow out in January, which have slowed deliveries of planes to airlines and prompted the Federal Aviation Administration to increase its oversight of the storied manufacturer. Stephanie Pope, in her first press conference since taking over the key role at the troubled aircraft manufacturer in March, reiterated that Boeing has committed to increasing production of the Max to 38 a month. Production slipped into the mid-20s per month in the first half of the year, analysts have said. Pope said Boeing is on the right path to improving its manufacturing quality, safety and predictability of deliveries, a "transformational change" that she said will take years. "It still doesn't take away the reality that we've disappointed" our customers, she said at a press conference before the Farnborough Airshow, outside of London. "We've impacted their business and we haven't met the commitments and lived up to being the partner that they expect and they need us to be." Boeing has unveiled a host of goals aimed at getting it back on the right path, like improving worker training and manufacturing processes, among others. In the spring it delivered an improvement plan to the FAA that the agency ordered after the blowout in January. "This plan is not a three month plan," said Pope. "I call it transformational because some of these actions will take years." As part of the leadership shakeup that promoted Pope to head the commercial unit, Boeing's CEO Dave Calhoun said he would step down by year's end. When asked whether she was interested in the role, Pope said she is focused on the commercial unit's recovery. "That is my priority," she said. Boeing's problems aren't limited to its commercial program, however. Its defense unit has also been grappling with delays, including of the money-losing and delayed modification of two Boeing 747s that will serve as the next two Air Force One aircraft.
AMD And Domino's Pizza Were Among 11 Worst Performers In Large Cap Space Last Week (July 14- July 20) - Are The Others In Your Portfolio? - Advanced Micro Devices (NASDAQ:AMD), Domino's Pizza (NYSE:DP 2024-07-21 16:34:00+00:00 - AMD And Domino's Pizza Were Among 11 Worst Performers In Large Cap Space Last Week (July 14- July 20) - Are The Others In Your Portfolio?
Small businesses grapple with global tech outages created by CrowdStrike 2024-07-21 16:15:59+00:00 - NEW YORK (AP) — An owner of a consumer insights research firm couldn’t pay her employees, make Friday’s deadline to sign a contract for a new business or send key research to a key client. A psychiatrist, who runs a virtual mental health practice in Maryland, saw his business hobbled as some of his virtual assistants and therapists couldn’t either make phone calls or log on to their computers. And a restaurant owner in New York City was worried about how he was going to pay his vendors and his workers. Businesses from airlines to hospitals have been grappling with a faulty software update that caused technological havoc worldwide on Friday, and its repercussions continued through the weekend. The breadth of the outages highlighted the fragility of a digitized world dependent on a few providers for key computing services. But the problem appeared to divide those affected into haves and have-nots. Major customers of Microsoft and CrowdStrike are getting IT support to resolve the issues, but many smaller businesses whose Windows PCs may have received the problematic update are still struggling. Take Tsvetta Kaleynska, owner and founder of the Manhattan-based consumer insights company RILA Global Consulting, which has Fortune 500 clients. As of Saturday, she resolved the payroll issue and she got an extension until Monday on the research project. But the prospective client will not move forward with the new contract, cutting her annual earnings by nearly 25%, she estimated. The problem: she couldn’t sign the contract because Docusign, which runs on Microsoft software affected by the faulty update, was down. “If I were part of a big company, then I would be able to delegate and get support from computer science or security services,” Kaleynska said. “But as a small business owner, I am depending only on myself. It’s pretty devastating.” On top of Kaleynska’s business issues, she had to bring her ill daughter to a local hospital Friday because the hospital’s phone lines were down. Kaleynska, an immigrant from Bulgaria who became a U.S. citizen in 2023, said she’s learned a hard lesson: “Our lives are very fragile because they’re based on technology, and we depend on technology.” CrowdStrike is one of the largest cybersecurity firms in the U.S. and has a list of customers that includes more than half of the Fortune 500 companies as well as small and medium-sized businesses. Following the outage, the company provided an initial fix through a software update. But many computers are expected to need hands-on work that could take days, if not longer, to complete. For many small businesses that are impacted, that could mean working around the clock this weekend to make sure their systems are up and running, said Wedbush tech analyst Dan Ives. “Small businesses rely on third parties for this not to happen and instead, it became a ‘code red’ situation,” Ives said. Overall, Ives noted tech problems can be easier to fix for big companies that have a sizable number of experts on their payroll as opposed to small businesses who could face more of an “uphill battle” because they have fewer technical resources. “The ripple effects from this could be felt for days and weeks ahead,” Ives said. “It’s not just a black eye moment for CrowdStrike, but for the broader industry. You can’t have one fat finger update take down a global ecosystem.” Ari Lightman, a professor of digital media at Carnegie Mellon University’s Heinz College, agreed, noting the amount of money big companies spend on Microsoft and CrowdStrike is likely a large portion of their IT budget. On the other hand, small businesses can look at information online on how to resolve the outage. CrowdStrike has posted step-by-step manual fixes to its blog, but it can be intimidating for those who are less tech savvy. Pedestrians walk by blacked out screens, due to a global technology outage, in Times Square, Friday, July 19, 2024, in New York. (AP Photo/Yuki Iwamura) Lightman said those corporations could sue for a loss of business, but small ones might use class action suits to go after CrowdStrike for compensatory damages. The issue is affecting small businesses differently. Heather Garlich, a spokeswoman at Arlington, Va., grocery industry group FMI, said the outages were “somewhat spotty and inconsistent depending on how businesses use certain Microsoft tools.” She said she was aware of one with an issue with a human resource system, while another had problems with their routing system for distribution. Yet another had issues with its cash registers. Chris Seabrook, who owns a locksmith services business in Melbourne, Australia, called Asguard Locksmiths, told The Associated Press in a Friday email that the IT outage had thrown a “significant wrench” in his daily operations. He hasn’t been able to send and receive emails, access critical files, manage his schedule or create invoices. “My Microsoft PC is essential for many important functions in my business,” he wrote. “As a one-man business, every minute counts and this disruption has forced me to adapt quickly to ensure my services remain as uninterrupted as possible.” Trucks sit parked at a FedEx shipping terminal due to a global technology outage, at Phoenix Sky Harbor International Airport Friday, July 19, 2024, in Phoenix. (AP Photo/Ross D. Franklin) To minimize the disruption, Seabrook borrowed a non-Microsoft device from a friend that enabled him to sign into his accounts and access some of his critical tools and information. He’s also using his smartphone for important messages and organizing his schedule. And he’s been contacting clients to update them on the situation. Seabrook didn’t immediately respond to a follow-up email sent by The Associated Press on Saturday. Some small business owners have improvised to get work done. Dr. Ozan Toy, a psychiatrist, and chief medical officer at the Maryland-based Telapsychiatry, which has 25 employees across the U.S., said some employees with Microsoft phone lines instead turned to the Ring Central System, while others shifted from Microsoft Teams to Zoom. Toy said his business was fortunate to have several backups of its electronic medical record system, allowing them to resume communications with each other and their patients. As of Sunday, the practice’s cloud based services were running, he said. Toy noted financial losses were “minimal” as it has an external answering service taking calls from patients. Chris Delmond, the co-owner of Handcraft Hospitality, which operates three restaurants in Manhattan and one in Mt. Pleasant, South Carolina, said his restaurants remained open for business. But the outage meant he could not have access to his cloud-based accounting software app on the Microsoft platform. That prevented him from seeing receipts and invoices, and slowed his ability to process checks to his employees and suppliers. He had to resort to calling his banks to see whether deposits had been made and check balances. “I’m a small business owner. I have two other partners and we kind of do everything,” he said. “So it’s up to us to find out what the issues are. I don’t have large platforms that help me track.” But by late Friday afternoon, all the issues related to his business’ cloud based systems were back to normal, Delmond said. He noted he didn’t suffer any financial losses, but he added, “It’s frustrating, but as a small business owner you deal with the ups and downs.”
Secret Service says it denied some Trump requests for more security, walking back previous story 2024-07-21 15:55:00+00:00 - Former US President Donald Trump exits after attending the Republican National Convention (RNC) at the Fiserv Forum in Milwaukee, Wisconsin, US, on Monday, July 15, 2024. The Secret Service denied some of former President Donald Trump's requests for additional security resources over the past two years, an official with the agency confirmed to NBC News. The Secret Service official said extra security accommodations could not always be made for Trump due to the department's limited resources. The Washington Post was first to report the Secret Service's acknowledgement. The requests that were denied did not pertain to the July 13 shooting at Trump's Pennsylvania rally where the former president was injured, one person was killed and two others were critically wounded. "In some instances where specific Secret Service specialized units or resources were not provided, the agency made modifications to ensure the security of the protectee," Secret Service spokesperson Anthony Guglielmi told NBC News. "This may include utilizing state or local partners to provide specialized functions or otherwise identifying alternatives to reduce public exposure of a protectee." Guglielmi's statement represents a change of script. Last Sunday, he said the assertion that the Secret Service had rebuffed the Trump team's requests for additional security were "absolutely false." In the wake of the attempted assassination of Trump, the Secret Service has been under intense scrutiny. Lawmakers are pressuring the agency and its director, Kimberly Cheatle, to explain any security lapses that allowed a gunman to mount a rooftop 148 yards from Trump, open fire on the rally, and graze the former president's ear. House Speaker Mike Johnson, R-La., and House Majority Leader Steve Scalise, R-La., are among the top Republicans calling for Cheatle's resignation, though she has maintained that she will remain in her post. "Of course she needs to be fired," House Intelligence Committee chair Rep. Mike Turner, R-Ohio., said on CBS' "Face the Nation" on Sunday. "President Biden should fire her. She's clearly not going to resign." Turner will be among the lawmakers questioning Cheatle on the record this week on Capitol Hill where she is expected to testify in several hearings about what went awry in security protocols at the rally shooting.
Mark Cuban Reveals 4 Rules To Becoming A Millionaire: 'Find Something You Can Be Good At. Then...' 2024-07-21 14:56:00+00:00 - Loading... Loading... Entrepreneur and investor Mark Cuban is one of the most well-known figures in the business and sports worlds. Cuban is also pretty open to sharing advice and tips on how to make money and potentially become a millionaire. What Happened: Cuban is well known for his ownership of the NBA's Dallas Mavericks and in recent years for his commentary on cryptocurrencies like Bitcoin BTC/USD and Dogecoin DOGE/USD. Cuban led the way with the Dallas Mavericks becoming one of the first sports teams to accept Dogecoin as a form of payment back in March 2021. The five-year chart from Benzinga Pro below shows Dogecoin surging from March to May 2021 before falling after hitting all-time highs. Dogecoin has fallen in recent years, but remains higher than when Cuban led the initiative. Investing in cryptocurrencies like Dogecoin has helped some people become millionaires, but like other investments requires levels of patience, luck and can be risky. For everyone else, Cuban has some advice that could lead to becoming a millionaire. In 2022, Cuban shared four rules to making money and becoming a millionaire in an interview with GQ, as shared by CNBC. "If you want to be a millionaire, you can do it, but there's a couple things you have to be able to accomplish," Cuban said. Rule 1: "Find something you can be good at. Then, be great at it." Cuban's first rule is possibly the most important, as a person needs to focus on their strengths and develop those skills as their focus area. This could be a certain vocation, a sport or creating content. A passion for something can often translate into putting in the necessary work and effort to be successful. Rule 2: "Know how to sell." Cuban sold trash bags door-to-door when he was 12 years old, CNBC reported. This was done by Cuban to earn money to buy sneakers. Cuban bought the trash bags for $3 and sold them for $6. Part of Cuban's sales pitch was the offer to be available by phone whenever someone needed the trash bags and the offer of delivering them in his wagon. Read Also: Mark Cuban On Guns, Immigration, Sleeping Habits And His Favorite Word — ‘It Makes My Day’ Rule 3: "Be curious and always learning." Finding something a person is good at and becoming great is a key step. Another key step might be to continue learning and getting better at the subject or skill. Cuban has preached over the years that people should be willing to continue learnings and striving to improve. Rule 4: "When you walk into a room, you (need to know) your s*** better than anyone else in the room." Cuban said that this is the important step before starting your own company and being able to "control your own destiny." Cuban has often shared that many times great leaders and businessmen fail several times before making it. Cuban said it doesn't matter how many times you fail, since being right only one time can be the difference in life. Read Next: This article was previously published by Benzinga and has been updated. Photo: Shutterstock
Warner Bros. Discovery & Coinbase Are Among 10 Large Cap Stocks That Shined Most Last Week (July 14-July 20): Are The Others In Your Portfolio? 2024-07-21 14:53:00+00:00 - Loading... Loading... These ten large-cap stocks were the best performers in the last week. Are they in your portfolio? Also Read: Photo by rafapress on Shutterstock
Sen. Joe Manchin calls on Biden to drop out of presidential race 2024-07-21 14:28:00+00:00 - Sen. Joe Manchin, D-W.Va., is seen in the U.S. Capitol on Wednesday, September 6, 2023. Independent Sen. Joe Manchin on Sunday called on President Joe Biden to exit the race against former President Donald Trump. "I came to the decision with a heavy heart that I think it's time to pass the torch to new generation," said Manchin on CNN's "State of the Union." The West Virginia senator, who registered as an independent in May but caucuses with Democrats, also called for an open nomination process, suggesting Pennsylvania Gov. Josh Shapiro and Kentucky Gov. Andy Beshear as contenders. That contrasts with others who view Vice President Kamala Harris as the favorite to take over the top of the ticket. As Manchin made the rounds on the Sunday broadcast media junket, he reiterated that he still believes Biden has the mental acuity to finish the rest of his term. Manchin also said that the Biden team knew ahead of time that he was going to make this call. The pressure campaign on Biden to drop his reelection bid has been growing since his debate disaster against Trump in June. Along with Manchin, at least 36 Democratic lawmakers, including four senators, have called on Biden to exit the race and allow a new nominee to take the helm of the ticket. Over the past week, Manchin had been hinting at his slipping support for Biden as the presumptive Democratic nominee. The day after the attempted assassination of Trump at his Pennsylvania rally, Manchin released a statement condemning political violence and acknowledging the vulnerabilities of the Democratic Party with Biden at the top of the ticket. "At a time when the Democratic Party must realize they risk losing the Senate and even the House, in addition to losing the presidency, they are doing nothing to broaden the tent and appeal to more Americans," Manchin wrote last Sunday. "Sadly, their vocal support for President Biden in the face of his irreparable debate performance, are just evidence of how much control the far left has over the current administration," he added. Throughout the Biden administration, Manchin has positioned himself as a conservative Democrat, sometimes opposing large parts of the president's agenda. Earlier this election cycle, he appeared to toy with the idea of launching his own bid for the White House as an independent, which seemed more likely after he announced he would not run for Senate reelection, leaving his seat open in a deep-red state. But in February, he quieted the speculation and stated he would not launch a third-party campaign.
Developing countries face worst debt crisis in history, study shows 2024-07-21 14:28:00+00:00 - Developing countries are facing the worst debt crisis in history with almost half their budgets being spent on paying back their creditors, a study has found. The report, by the campaign group Debt Relief International for Norwegian Church Aid, says more than 100 countries are struggling to service their debts, resulting in them cutting back on investment in health, education, social protection and climate change measures. Debt service is absorbing 41.5% of budget revenues, 41.6% of spending, and 8.4% of GDP on average across 144 developing countries, according to the study. It said that without urgent action problems would persist into the 2030s, and that pressures were greater than during both the Latin American debt crisis of 1982 and the debt crisis of the 1990s. The latter prompted relief under the Heavily Indebted Poor Country Initiative (HIPC). In 2020 the G20 group of leading developed and developing countries launched the common framework, a scheme designed to speed up and simplify the debt relief process. However, progress has been much slower than hoped, reflecting the fact that much poor country debt is now owed to China and private bondholders. The report said the common framework was falling “way short of expectations in terms of timeliness, participation by creditors, and the scale of relief provided”. Countries would still be paying an average 48% of their budget revenue on service after relief and as a result few were applying to join the process. skip past newsletter promotion Sign up to Business Today Free daily newsletter Get set for the working day – we'll point you to all the business news and analysis you need every morning Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion Among the suggestions made by the report are that debt relief should be: available to countries of all income levels and regions, and tailored to their needs provided in ways that reduces service to less than 15% of budget revenue provided rapidly and with immediate standstills of payments when a country applies for relief include all creditors provide legal protections for debtors against holdouts and lawsuits in all major financial centres Matthew Martin, one of the report’s authors, called on the new government to legislate to prevent so-called vulture funds – funds that buy up debt cheaply and then seek to make a profit on it – from using the UK courts to sue poor countries. “We now have the worst debt crisis in history, largely because more and more countries have gone to international bond markets and developed domestic bond markets to finance their development”, Martin said. “There are three things the new UK government can do as priorities – pass a vulture fund law to push commercial creditors to provide debt relief; insist with the G20 that there be a fundamental independent review of the Common Framework to make it cancel debt service so governments can spend more on fighting climate change and inequality; and cancel debt service now for the Caribbean islands hit by Hurricane Beryl.” Dagfinn Høybråten, the secretary general of Norwegian Church Aid, said: “A high debt burden is a huge drain on a country’s economy and hit the poorer parts of the population first through cuts in welfare, education, or health expenditure to pay debts. “A debt crisis is paralysing and undermines all other development efforts. The 1982 crisis lasted over 20 years with much suffering before it was finally resolved in 2005. We do not have a generation to tackle this new debt crisis.”
Why do Visa and Mastercard advertise to consumers? 2024-07-21 14:02:00+00:00 - Why do Visa, Mastercard and so on advertise to consumers? As far as I know, the way in which bank payments are processed is immaterial to the account holder. In any case, you can’t choose – you get whichever one your bank decides. Tom Gretton, Exeter Post your answers (and new questions) below or send them to A selection will be published next Sunday.
China Shows Few Signs of Tilting Economy Toward Consumers in New Plan 2024-07-21 13:32:44+00:00 - China engaged in a monthslong drumbeat of anticipation that a Communist Party leaders’ meeting would show the way to a new era of growth for the slowing economy. The outcome was a plan released on Sunday offering more than 300 steps on everything from taxes to religion. It echoed many familiar themes, like an emphasis on government investments in high-tech manufacturing and scientific innovation. There was little mention of anything that would directly address China’s plunging real estate prices or the millions of unfinished apartments left behind by failed developers. Many economists had called for a comprehensive effort to rebalance the Chinese economy away from investment and toward consumer spending. But the document — roughly 15,000 words in the English translation — made a brief and cautious call to “refine long-term mechanisms for expanding consumption.” The Communist Party’s Central Committee doubled down on industrial policy. The party promised to “promote the development of strategic industries” in eight sectors, from renewable energy to aerospace. Those were essentially the same industries as in the country’s decade-old Made in China 2025 plan to replace imports of high-tech goods with locally produced products, as part of a national push for self-reliance.
Nepal’s new prime minister seeks vote of confidence in parliament, secure more than two-third votes 2024-07-21 13:15:09+00:00 - KATHMANDU, Nepal (AP) — Nepal’s newly appointed prime minister secured overwhelming support in parliament on Sunday with more than two-thirds of members voting in his favor. Prime Minister Khadga Prasad Oli got the support from members of his Communist Party of Nepal (Unified Marxist-Leninist), his main coalition partner Nepali Congress and several smaller parties. During voting in the House of Representatives, the lower house of parliament, 188 out of a total of 275 members voted in his favor during the vote of confidence motion, Speaker Dev Raj Ghimire announced. Supporting members applauded soon after the announcement was made and they lined up to shake hands with Oli to congratulate him. Oli was named Nepal’s prime minister last week after the previous coalition government collapsed after Oli’s party withdrew their support earlier this month. The next election in Nepal is scheduled for 2027. This is the fourth time that Oli, 72, is serving as prime minister of the Himalayan nation. Oli’s biggest challenge as prime minister will be balancing Nepal’s relationship with its giant neighbors India and China, as both seek to wield influence over the small nation. Landlocked Nepal is surrounded by India on three sides and imports all of its oil and most supplies from the country. It also shares a border with China. Oli was born in a village in east Nepal and has been involved in politics since he was young. He worked his way up the ranks of the communist party and was jailed a total of 14 years for opposing the autocratic rule of Nepal’s monarchs. The royals banned political parties until 1990, when street protests forced then King Birendra to hold free elections that turned Nepal into a constitutional monarchy, which was formally abolished in 2008. Oli has had two kidney transplants.
Pig transplant research yields a surprise: Bacon safe for some people allergic to red meat 2024-07-21 13:01:07+00:00 - BLACKSBURG, Va. (AP) — Some people who develop a weird and terrifying allergy to red meat after a bite from a lone star tick can still eat pork from a surprising source: Genetically modified pigs created for organ transplant research. Don’t look for it in grocery stores. The company that bred these special pigs shares its small supply, for free, with allergy patients. “We get hundreds and hundreds of orders,” said David Ayares, who heads Revivicor Inc., as he opened a freezer jammed with packages of ground pork patties, ham, ribs and pork chops. The allergy is called alpha-gal syndrome, named for a sugar that’s present in the tissues of nearly all mammals - except for people and some of our primate cousins. It can cause a serious reaction hours after eating beef, pork or any other red meat, or certain mammalian products such as milk or gelatin. David Ayares, president and chief scientific officer of Revivicor, holds a package of frozen meat during an interview at the company’s offices in Blacksburg, Va., on May 30, 2024. (AP Photo/Shelby Lum) But where does organ transplantation come in? There aren’t enough donated human organs to go around so researchers are trying to use organs from pigs instead — and that same alpha-gal sugar is a big barrier. It causes the human immune system to immediately destroy a transplanted organ from an ordinary pig. So the first gene that Revivicor inactivated as it began genetically modifying pigs for animal-to-human transplants was the one that produces alpha-gal. While xenotransplants still are experimental, Revivicor’s “GalSafe” pigs won Food and Drug Administration approval in 2020 to be used as a source of food, and a potential source for human therapeutics. The FDA determined there was no detectable level of alpha-gal across multiple generations of the pigs. Revivicor, a subsidiary of United Therapeutics, isn’t a food company — it researches xenotransplantation. Nor has it yet found anyone in the agriculture business interested in selling GalSafe pork. Still, “this is a research pig that FDA approved so let’s get it to the patients,” is how Ayares describes beginning the shipments a few years ago. Revivicor’s GalSafe herd is housed in Iowa and to keep its numbers in check, some meat is periodically processed in a slaughterhouse certified by the U.S. Agriculture Department. Revivicor then mails frozen shipments to alpha-gal syndrome patients who’ve filled out applications for the pork. Thank-you letters relating the joy of eating bacon again line a bulletin board near the freezer in Revivicor’s corporate office. Separately, pigs with various gene modifications for xenotransplant research live on a Revivicor farm in Virginia, including a GalSafe pig that was the source for a recent experimental kidney transplant at NYU Langone Health. And that begs the question: After removing transplantable organs, could the pig be used for meat? No. The strong anesthesia used so the animals feel no pain during organ removal means they don’t meet USDA rules for drug-free food, said United Therapeutics spokesman Dewey Steadman. —- The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Science and Educational Media Group. The AP is solely responsible for all content.