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Alaska Airlines flight attendants reject new contract, union says there's 'more work to do' 2024-08-14 22:29:00+00:00 - An Alaska Airlines Boeing 737-900ER aircraft on the tarmac at Seattle-Tacoma International Airport (SEA) in Seattle, Washington, US, on Monday, Jan. 22, 2024. Alaska Airlines flight attendants rejected a new labor deal that would have come with immediate raises averaging more than 24%, their union said Wednesday, setting both sides up for more talks as a merger with Hawaiian Airlines looms. The union and the company had reached a tentative "record" agreement in June, which included boarding pay, as well as back pay, on top of average pay increases of about 32% over the three-year deal, according to the Association of Flight Attendants-CWA. "There is more work to do," the union said, adding that it will survey members to "determine key issues and return to the table to address them." The airline said in a statement: "We remain committed to reaching an agreement that reflects the critical role of our flight attendants and is good for Alaska's long-term success." Airline workers across the industry have pushed their employers for pay increases and better working conditions after Covid-19 put a pause on most labor negotiations. Salaries and fuel are airlines' biggest costs and talks at some carriers had turned contentious before new contracts were approved. Pilots at the major carriers have sealed deals over the past two years, while other airline workers have continued to seek better pay. American Airlines reached a deal with its flight attendants union last month, and members are voting on whether to ratify it. United Airlines is still negotiating a new contract with its flight attendants' union.

Google says it observed Iran trying to hack the Trump and Biden-Harris campaigns 2024-08-14 22:28:00+00:00 - Google said in a research report Wednesday that it detected efforts by Iranian hackers to target both the Trump and the Biden-Harris campaigns in May and June, part of a larger email phishing operation that still persists. Google’s announcement adds credence to the Trump campaign’s claim Saturday that it had been hacked as part of an Iranian campaign to interfere with the election. In its report, Google’s Threat Analysis Group, which tracks government-backed cyberattacks, said it had disrupted a “small but steady” phishing operation from a hacking unit tied to the Islamic Revolutionary Guard Corps. In May and June, “targets included the personal email accounts of roughly a dozen individuals affiliated with President Biden and with former President Trump, including current and former officials in the U.S. government and individuals associated with the respective campaigns,” Google said in its report. The company blocked “numerous” attempts to log in to the targets’ personal email addresses, it said. Google said the hacking operation accessed the Gmail account of at least one high-profile political consultant in July. The company said it went on to secure the account and referred the matter to law enforcement. The company didn’t disclose the identity of the consultant or whether the consultant was involved with either campaign. Google headquarters in Mountain View, Calif., in 2021. Yichuan Cao / Sipa via AP file Like many elite government-affiliated hacking groups, the Revolutionary Guard hackers are known for their dogged persistence. Google said it “continues to observe” unsuccessful attempts to break into accounts affiliated with Biden, Vice President Kamala Harris and Trump. The attempted hacks, part of a larger campaign to hack U.S. and Israeli targets, have used Google products like Sites, Drive and Gmail, Google said. Reports of a credible hacking threat to U.S. presidential campaigns began last week, when Microsoft said hackers affiliated with the Revolutionary Guard had broken into the email account of a former senior adviser to a presidential campaign. Microsoft didn’t provide more details about who was hacked. A spokesperson for Iran’s Mission to the United Nations didn’t immediately reply to a request for comment. Iranian state news previously reported that a representative for the mission had denied Iranian involvement in hacking Trump’s campaign. Over the weekend, three U.S. news outlets — Politico, The Washington Post and The New York Times — said they had received emails including what appeared to be Trump campaign files in what appeared to be a “hack-and-leak” operation to embarrass Trump. The FBI said Monday it was investigating efforts to hack both the Trump and the Biden-Harris campaigns but didn’t provide further details. Only the Trump campaign has claimed to have been hacked. The initial round of phishing emails this spring happened before Biden dropped out of the race and Harris became the Democrats’ nominee. A Harris official told NBC News the campaign was unaware of any security breach. No major cybersecurity company or government agency has so far explicitly said that Iran successfully hacked the Trump campaign. Microsoft has declined to comment further on its report. A Microsoft spokesperson told NBC News its policy is to refrain from publicly disclosing details about a hacking victim unless that victim clearly asks it to. The series of events comes after a U.S. intelligence official from the Foreign Malign Influence Center, one of the few arms of the U.S. government devoted to countering foreign propaganda campaigns, warned that Iran was likely to continue efforts to denigrate Trump.

Mars, maker of M&M's and Snickers, strikes nearly $30 billion deal to buy Cheez-It owner Kellanova 2024-08-14 22:23:00+00:00 - M&M's maker Mars has struck a deal worth nearly $30 billion to buy Kellanova, marking one of the food industry's biggest deals and expanding the candy maker's brand portfolio to include salty snacks such as Pringles and Cheez-It. Kellanova was formed last year when the Kellogg Co. split into three companies. Kellanova sells many of the former company's most profitable brands, including Eggo, Town House, MorningStar Farms and Rice Krispies Treats. It had net sales of more than $13 billion last year and has approximately 23,000 employees. The acquisition would expand Mars' reach into the salty snack category. The company owns brands like Combos and Ben's Original, but it's primarily known for its chocolates, candies and pet food. Mars makes M&M's, Lifesavers, Juicy Fruit gum and Skittles as well as Pedigree and Royal Canin pet foods, among other products. But sales of some of those products, like gum, have sputtered in recent years as snacking habits shift. The deal helps Mars expand into areas of growth. "There is significant logic behind Mars acquiring Kellanova, not least because the deal would allow Mars to push more heavily into the savory snacks category where it has virtually no presence," noted Neil Saunders, managing director of GlobalData. "Savory snacks sales are growing at a faster clip than confectionery, where Mars currently predominates." It is the biggest deal in the sector since J.M. Smucker bought Hostess for $5.6 billion last year, and among the largest of 2024, coming in second to ExxonMobil's $60 billion acquisition of Pioneer Natural Resources. "The Kellanova brands significantly expand our snacking platform, allowing us to even more effectively meet consumer needs and drive profitable business growth," Andrew Clarke, global president of Mars Snacking, said in a statement. Kellanova stock price Mars Inc. said Wednesday that it will pay $83.50 per share in cash. The company put the total value of the transaction at $35.9 billion, including debt. Shares of Kellanova jumped $5.50, or 7.4%, to $80.00 in Wednesday morning trading. Mars, headquartered in McLean, Virginia, is one of the largest privately held companies in the U.S. Mars' purchase of Kellanova is expected to close in the first half of next year. Once it's complete, Kellanova will become part of Mars Snacking. Corporate headquarters will remain in Chicago. The other company formed in the Kellogg split, WK Kellogg Co., retained cereal brands like Raisin Bran, Frosted Flakes and Froot Loops, which have struggled with slowing sales in recent years. It is not involved in the deal. Consumer spending The merger also may help Kellanova at a time when rising prices are squeezing consumers and putting many companies under pressure to put a cap on prices. Economists say that many consumers appear to be returning to pre-pandemic norms, when most companies felt they couldn't raise prices very much without losing business. Mars got its start in 1911, when founder Frank Mars started making and selling butter cream candy from his home in Tacoma, Washington. The company moved to Chicago in 1929 and introduced the Snickers bar the following year. Mars has steadily grown through acquisitions. It entered the pet food business in 1935 with the purchase of a U.K. dog food brand and bought the Dove ice cream brand in 1986. In 2008, it purchased the Wrigley chewing gum business for $23 billion.

Social Security recipients may see smallest cost-of-living adjustment since 2021. Here's what to know. 2024-08-14 22:22:00+00:00 - Inflation falling to its lowest level in three years is good news, generally speaking. But it also means Social Security recipients are likely in line for the smallest cost-of-living increase to the monthly benefit since 2021. The 2025 cost-of-living adjustment, or COLA, is projected to come in around 2.57%, the Senior Citizens League, an advocacy group for older Americans, said on Wednesday. Down from 2.63% last month, the calculation is based on the rate of inflation, with government figures released earlier in the day showing consumer prices in July rose 2.9%, the smallest advance since March 2021. Though it's not yet official, as the Social Security Administration usually sets the next year's COLA in October, a 2.57% hike would translate into a monthly increase of nearly $49, based on the current average monthly benefit of $1,900. The new year's COLA can be expected with most recipients' January benefit check. While many working Americans have seen their wages rising at a faster pace than inflation, seniors on fixed incomes are worried about depleting their savings, according to a survey of 2,016 seniors in July. More than three-quarters, or 78%, reported higher monthly budgets for basics such as housing, food and medicines compared with last year, TSCL stated. The Social Security Administration sets its yearly COLA based on inflation during the third quarter, or from July through September. The agency takes the average inflation rate over that period from what's known as the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W, which tracks spending by working Americans. If that inflation rate is higher than the same period a year earlier, the COLA is adjusted upward by the difference. But some advocates and lawmakers oppose the use of the CPI-W, arguing that older Americans spend differently than younger workers. For instance, the Senior Citizens League has noted that the CPI-W assumes workers spend about 7% of their income on health care, yet older Americans can spend up to 16% or more on health costs.

AST SpaceMobile Stock Is Up On Q2 Earnings: What Investors Need To Know - AST SpaceMobile (NASDAQ:ASTS) 2024-08-14 22:13:00+00:00 - AST SpaceMobile Inc ASTS reported second-quarter financial results and provided a business update Wednesday after the bell. Here’s a look at the key highlights from the quarter. Q2 Earnings: AST SpaceMobile reported second-quarter sales of $900,000. The company reported an adjusted loss of 51 cents per share, missing analyst estimates for a loss of 22 cents per share, according to data from Benzinga Pro. AST SpaceMobile highlighted a strategic investment by Verizon during the quarter that brings a $100 million financial commitment. The company ended the quarter with $287.6 million in cash, cash equivalents and restricted cash. AST SpaceMobile also had $51.5 million of additional liquidity available to draw under its senior secured credit facility. “We stand at a pivotal moment for AST SpaceMobile. The arrival of our first five commercial satellites at the launch site marks the culmination of years of relentless innovation and perseverance, in partnership with industry leaders like AT&T, Google, Verizon, Vodafone and Rakuten, among others,” said Abel Avellan, founder, chairman and CEO of AST SpaceMobile. “The upcoming orbital launch is a significant step toward fulfilling our mission to eliminate dead zones and empower communities worldwide with space-based cellular broadband connectivity.” AST SpaceMobile said its first five commercial satellites are on target for orbital launch in the first half of September. The company expects initial nationwide, non-continuous service to be available with AT&T and Verizon beta test users following in-orbit service activation over the coming months. Management will hold a conference call at 5 p.m. E.T. to discuss its quarterly results. ASTS Price Action: AST SpaceMobile shares were up 2.11% after-hours at $21.25 at the time of publication Wednesday, according to Benzinga Pro. Photo: Courtesy of AST SpaceMobile. Read Next:

How Elliott's monthslong Starbucks campaign got it a better deal than it asked for 2024-08-14 21:41:00+00:00 - In this article SBUX Follow your favorite stocks CREATE FREE ACCOUNT People seen around the Starbucks coffee store in Shenzhen, China. Jakub Porzycki | Nurphoto | Getty Images In May, it was a $2.5 billion stake in Texas Instruments and a $1 billion-plus position at Johnson Controls . In June came a $2 billion stake in Southwest Airlines and an equally large investment in Japanese conglomerate SoftBank. For a $69.7 billion hedge fund — even by the standards it has set — Elliott Management has operated at a scale and frequency this summer that's given even the most seasoned activism defense advisors pause. But its biggest win this year was at Starbucks , beginning with private discussions over Elliott's multibillion-dollar stake and ending with a CEO change that investors and activists cheered. It wasn't just the replacement of a deeply unpopular CEO in favor of a food-industry legend, nor the nearly unprecedented stock price surge that drove Starbucks shares to their best day in more than 20 years. It was that Elliott's monthslong push at the company resulted in an outcome that thrilled shareholders and pleased chairman emeritus Howard Schultz and the board itself. It set the company on a "transformational" path through a deal, said one advisor who has worked with both activists and companies, that pleased just about everyone involved at Starbucks except former CEO Laxman Narasimhan. Private negotiations turn public By June, Elliott had amassed a Starbucks position that was worth some $1.9 billion and had begun conversations with the company, according to people familiar with the matter, who requested anonymity to discuss private matters freely. The activist investor's green-and-white letterhead has come to command the attention of directors and the media, who expect that the firm's plans will likely include the firing of an underperforming CEO. Narasimhan, who until Tuesday was the coffee chain's chief, seemed to fit that bill. Starbucks stock had dipped about 24% since Narasimhan took the helm in March 2023. The company struggled with declining same-store sales in the U.S., where traffic fell 6% during the third quarter, and in China, the company's second-largest market outside of North America, where same-store sales plunged 14%. Elliott met separately with Narasimhan and then-Chair Mellody Hobson in late June, the people said. The company was still reeling from its disastrous earnings report and slowing worldwide demand. The activist's representatives underscored in both meetings that immediate action was needed, the people said. But Elliott didn't ask Starbucks to fire Narasimhan, CNBC has previously reported. Operational overhaul and boardroom fractures Rather, in early July, it laid out a detailed presentation to Starbucks' board that focused on a strategy overhaul, with a particular focus on Starbucks' lagging China business and board changes, said the people familiar with the matter. And unlike some of its other campaigns — Southwest and Texas Instruments, for example — it kept those conversations private. Elliott felt the talks were constructive, but it made clear that significant changes were warranted, lest Starbucks' underperformance become so drastic that public action — through one of Elliott's vaunted letters, possibly — be required, the people said. News of the activist's position at the company nonetheless broke in The Wall Street Journal on July 19, setting off a flurry of attention and scrutiny. Reporting in the following days focused on the lingering influence of Schultz, including a Financial Times story that the founder of the company was opposed to the deal Elliott had offered. Negotiations continued, and the activist's representatives met with roughly three-quarters of the company's board in more informal settings through July and into August, the people said. But the conversations played out against the backdrop of persistent leaks that people familiar with the deal said could only be coming from the boardroom. A surprise departure

Apple is making enemies among creators by hitting Patreon with a 30% tax — but there's a loophole 2024-08-14 21:28:49+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Access your favorite topics in a personalized feed while you're on the go. download the app Thanks for signing up! Go to newsletter preferences Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview The creator economy has a not-so-new bad guy in town: Apple. This week, Patreon informed creators that starting in November, all in-app purchases made on the Patreon app would be subject to Apple's 30% cut. Patreon has since presented two options to creators — either automatically raise in-app prices to cover the fee or creators will have to eat the fee themselves. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. But there is a third option that Patreon isn't promoting. Creators could (and likely will) recommend that their fans make any transactions on Patreon's website, rather than the iPhone app. That means creators — and Patreon — both wouldn't lose money to Apple. Apps like Substack and Netflix already operate in this way, where subscriptions are handled off-app and once a user logs in, they can access their subscriptions within the iOS app. Advertisement For years, Patreon had been able to skirt Apple's App Store fees. In 2021, Patreon CEO Jack Conte told The Verge that Apple had not told the startup explicitly that it needed to pay up. That changed at the end of 2023 when Apple first came down on Patreon by enforcing its 30% fee on any commerce purchases made in the Patreon app. And now, Apple is expanding that to all transactions made within the Patreon app, including subscriptions. If Patreon doesn't oblige, Apple is threatening to remove the app. Creators are frustrated and confused "Creators are freaking out," said former Patreon exec Avi Gandhi. "We live in the age of digital gods, and Apple's App Store is certainly one of them." Across Reddit and Discord, Patreon users are vocalizing their frustrations with Apple and Patreon alike. Some want Patreon to scrap its iOS app entirely, others want Patreon to eat the fee (which wouldn't be financially possible), and then there are those who are just angry with Apple. Advertisement "Apple has gone from 'Think Different' to 'Think Extortionate,'" Laurel Kilgour, a research manager for the American Economic Liberties Project, wrote in a press release shared on Wednesday. "This outrageous 30% revenue cut — nearly 2.5 times more than Patreon's most premium membership tier — is especially egregious given Apple's ongoing, worldwide legal battles over its monopolistic practices." But rest assured, creators will find ways around Apple's fee. Related stories Already, creators are discussing ways that they can circumvent Apple's fee by having their fans make transactions outside of the Patreon iOS app. Patreon is not explicitly promoting that solution for creators, likely to try to not ruffle the feathers of Apple any further. And it needs its iOS app because that is where users are. Advertisement "If we don't do this, Apple might kick us out of the App Store, which would be terrible for creators and terrible for Patreon because iOS is actually now the most used platform for communities on Patreon," Conte said in a YouTube video posted on August 12. Apple and Patreon did not provide comment to Business Insider. Apple isn't seen as a friend in the creator economy Patreon isn't the only startup creators are using to build businesses around their communities and content. Other platforms, like Kajabi, Mighty Networks, Passes, and Substack are either already being taxed by Apple or navigating these issues in real time. Advertisement "This is what happens when you build on rented space versus owned space," Kajabi CEO Ahad Khan told BI. "You're building your business on a platform that can change revenue share policies kind of whenever they feel like it." For instance, Kajabi helps creators make branded mobile apps, but creators understand that if they put that app on the Apple App Store and there are in-app transactions, they will be taxed by Apple. Each creator has to decide what makes sense for their business, in the end, Khan added. Similarly, Mighty Networks also helps creators make apps listed on the Apple App Store and has had to deal with Apple's fees for years. "When in-app purchases are triggered on any Mighty network, we don't take a cut at all," CEO Gina Bianchini told BI. "So we essentially give back anything that we would be taking to the creator." Advertisement Meanwhile, other platforms, like Substack and Passes, are navigating these questions as they build out their mobile app presence. Substack's cofounder Hamish McKenzie wrote that the startup doesn't "think that Apple should be wholly blamed" and is working with Apple to bring in-app purchases to the Substack app. "We're doing everything in our power to make the implementation of in-app purchases as creator-friendly as possible," McKenzie wrote. Passes CEO Lucy Guo told BI that its iOS app would have higher prices than on its website to offset the impact on creators' earnings. Advertisement "We believe that Apple should make exceptions when it comes to creators," Guo said in an email. "The Apple tax hurts individual creators who rely on Passes as their main source of income." Suffice to say, when it comes to the creator economy and Apple, things are complicated. "I don't actually fault Apple," Bianchini said. "Apple's not the most evil thing in the world, but they're also not everybody's friend either."

A key metric suggests prices are returning to normal levels: 'Mission accomplished,' says economist 2024-08-14 21:27:00+00:00 - After two years of interest rate hikes, inflation has seemingly been tamed, according to some experts. Year-over-year prices have receded to a rate of 2.9%, according to the latest consumer price index report, which measures the cost of everyday goods and services. This suggests that while prices for things like rent, groceries and services will remain high, they aren't accelerating like the were two years ago, when inflation reached a peak of 9.1% in June 2022. While the latest reading is still short of the Federal Reserve's target rate of 2%, the last time inflation was this low was March 2021. It's "time for the Fed to declare 'mission accomplished,'" says Julia Pollak, labor economist at ZipRecruiter, who argues the central bank should start cutting interest rates in September. DON'T MISS: How to be more successful with your money To combat inflation, the central bank enacted 11 consecutive interest rate hikes between March 2022 and July 2023, raising its effective benchmark rate from near zero to 5.33%. Since then, the Fed has held interest rates steady. Rate hikes help curb inflation by making borrowing more expensive, but they can also slow down economic growth. They can make things worse for consumers as well, by increasing the costs of mortgages, credit cards and other loans. Additionally, they can discourage business investment, leading to fewer jobs and slower hiring. "If the Fed keeps its foot on the brake pedal, the labor market will continue to slow," says Pollak about current interest rate levels. A rate cut of at least 25 basis points is widely expected in September.

The 10 best states to live in, ranked 2024-08-14 21:23:26+00:00 - WalletHub released its 2024 ranking of the best states to live in. The study considered metrics including affordability, economy, and safety. Massachusetts was ranked the No. 1 state to live in. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement Sylvester Stallone, Blake Lively, and Amanda Seyfried have more in common than their professions. All three Hollywood A-listers moved out of California as participants in a growing trend of people leaving the Golden State. In July, Business Insider reported that "high taxes, expensive home prices, and challenging social and political conditions" are some of the factors influencing recent moves. It should come as little surprise, then, that California failed to rank in the top 10 states to live in, per a new report released by WalletHub. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

PlayStation Plus August 2024: The Witcher 3, Watch Dogs 2, More Join The Lineup - Sony Gr (NYSE:SONY) 2024-08-14 21:18:00+00:00 - Sony Group Corp. SONY has officially revealed the lineup of games joining the PlayStation Plus Games Catalog for August 2024. This month’s selection features a robust mix of critically acclaimed titles and fan favorites, headlined by The Witcher 3: Wild Hunt, Cult of the Lamb, Watch Dogs 2, and several installments from the Sword Art Online franchise. The new games will be available to PlayStation Plus Extra and Premium members starting Aug. 20, 2024. See Also: Xbox Game Pass August 2024 Lineup Includes Crash Bandicoot, Mafia, Creatures Of Ava PlayStation Plus Extra Tier The Witcher 3: Wild Hunt (PS4 + PS5) The beloved open-world RPG set in a dark fantasy world, following the monster slayer Geralt of Rivia. Wild Hearts (PS5) A monster-hunting game set in a fantasy feudal Japan, where teams hunt down giant nature-infused beasts. Cult of the Lamb (PS4 + PS5) A unique action-roguelite where players build a cult in a dark, whimsical world. Ride 5 (PS5) An adrenaline-pumping motorbike racing game with over 35 tracks and 200 bikes. Watch Dogs 2 (PS4) An open-world hacking game set in a fictionalized San Francisco, featuring the hacker Marcus Holloway. Sword Art Online: Last Recollection (PS4 + PS5) The culmination of the Sword Art Online series with the largest number of characters and episodes. Naruto to Boruto: Shinobi Striker (PS4) A team-based online fighting game featuring characters from both Naruto and Boruto series. Sword Art Online: Alicization Lycoris (PS4) An action RPG based on the Sword Art Online anime, featuring intense battles and character-driven storytelling. Sword Art Online: Fatal Bullet (PS4) A third-person shooter RPG that brings a fresh take to the Sword Art Online universe. Sword Art Online: Hollow Realization (PS4) An action RPG with a focus on character development and exploration in the Sword Art Online world. PlayStation Plus Premium Tier – Classic Games Catalog Vacation Simulator (PS VR2) A whimsical simulation game set in a future where robots try to recreate the concept of human vacations. TimeSplitters (PS4 + PS5) A classic FPS game where heroes travel through time to stop an evil race known as the TimeSplitters. TimeSplitters 2 (PS4 + PS5) The sequel to TimeSplitters, offering enhanced graphics and gameplay, with nine time-traveling episodes. TimeSplitters: Future Project (PS4 + PS5) A continuation of the TimeSplitters series, where players once again battle to alter the future. Sword Art Online: Lost Song (PS4) An action RPG featuring aerial combat and an expansive world based on the Sword Art Online series. Read Next:

FTC bans phony online reviews, seeks to deter AI-generated fakes 2024-08-14 21:17:00+00:00 - Businesses that buy, sell or promote phony online reviews now run the risk of incurring hefty financial penalties, the Federal Trade Commission said in announcing a ban on such practices. The final rule issued by the federal watchdog on Wednesday prohibits marketers from engaging in deceptive practices including using AI-generated reviews, censoring negative reviews and paying third parties for positive ones. "Fake reviews not only waste people's time and money, but also pollute the marketplace and divert business away from honest competitors," FTC Chair Lina M. Khan said in a news release. "By strengthening the FTC's toolkit to fight deceptive advertising, the final rule will protect Americans from getting cheated, put businesses that unlawfully game the system on notice and promote markets that are fair, honest and competitive." The problem is widespread, with new types of artificial intelligence tools able to write human-sounding, bogus product reviews, enabling bad actors to crank out far more fake ratings. Amazon proactively blocked more than 250 million suspected fake reviews from its store in 2023, the retailing giant said last month while announcing a joint lawsuit with the Better Business Bureau against one alleged broker of fake reviews. The action is not the first such suit filed by Amazon, which in 2022 accused administrators of more than 10,000 Facebook groups of coordinating fake reviews for money or free products. Yelp reported more than 950 people to be engaged in deceptive review practices on its site in 2021. According to a U.S. PIRG estimate, between 30% and 40% of online reviews are "concocted or are in some way not genuine." Bogus reviews soared during the pandemic as U.S. shoppers turned to the internet for the bulk of their purchases instead of risking contact with others in stores, the consumer advocacy group noted. "We're using all available means to attack deceptive advertising in the digital age," said Samuel Levine, Director of the FTC's Bureau of Consumer Protection said in a statement in late June, when the agency first proposed its new rule. "The rule would trigger civil penalties for violators and should help level the playing field for honest companies." Enforcement of the FTC's new rule starts 60 days after its publication in the Federal Register. Violators face a maximum civil penalty of $51,744 per violation, although courts can impose lesser amounts depending on the specifics of the case.

Republicans claim betrayal as cryptocurrency PAC backs Democrats 2024-08-14 21:15:00+00:00 - JACKSON HOLE, Wyo. — A leading pro-cryptocurrency political group has dumped millions of dollars into high-profile Michigan and Arizona Senate races to back Democrats against Donald Trump-endorsed candidates, angering top Republicans who viewed the industry as an ally, not an opponent. Fairshake PAC and its affiliated super PACs are reserving millions in advertising spending to influence three U.S. Senate races this cycle, and have announced commitments of about $3 million each to Democrats Rep. Ruben Gallego, who is running in Arizona, and Rep. Elissa Slotkin, a candidate in Michigan, it said on Wednesday. The spending risks upending GOP efforts to secure seats in two key battleground states in the fight for control of the Senate and comes as top Republicans — amid a hostile regulatory environment — have leveraged their political capital to broker closer ties to the cryptocurrency industry. When asked for comment, Fairshake referred NBC News to Slotkin and Gallego’s current A-ratings from Stand With Crypto, a nonprofit group advocating for the crypto industry. Both Democrats this year crossed party lines to support a historic crypto bill. For years, Slotkin had expressed skepticism of cryptocurrency until an apparent change of heart in recent months. The Michigan lawmaker earned an F-rating from Stand With Crypto as recently as March. Gallego, who is facing off against Republican Kari Lake, had failed in the past to back legislation that was supported by the crypto industry and, in 2022, praised on social media a candidate who “slayed the Crypto beast.” Last year, Gallego signed onto a letter, spearheaded by Sen. Elizabeth Warren, D-Mass., to address crypto-financed reforms, crediting her as an “outspoken advocate for regulation and oversight of crypto.” He has also criticized business owners like Elon Musk for “pushing Bitcoin” and profiting off cryptocurrency, and signed onto legislation perceived as hostile by the industry in years past. Lake earned an A rating from the group Stand With Crypto for her strong statements about supporting the industry, and is assessed as “very pro-crypto.” A spokesperson for Fairshake, Josh Vlasto, said in a statement that the super PAC and its affiliates are working to “support candidates who embrace innovation, want to protect American jobs and are committed to working across the aisle to get things done and oppose those who do not.” The crypto industry and its aligned super PACs have amassed more than $100 million to spend in House and Senate races, part of an effort to shape a favorable regulatory landscape by bolstering crypto-friendly candidates. In Ohio alone, the group is targeting $12 million in support of a Republican Senate candidate running to unseat Democratic Sen. Sherrod Brown, chair of the powerful Committee on Banking, Housing and Urban Affairs, who is viewed by industry advocates as a crypto skeptic. Fairshake is the leading PAC funded by digital asset firms, with its most significant contributions coming from a handful of donors: blockchain firm Ripple; individual donors affiliated with the venture firm Andreessen Horowitz; and Coinbase, the largest U.S. cryptocurrency exchange. Republican operatives making the case for crypto say that it is a growth industry that the party has embraced for good reasons, and that these efforts will continue to pay off over time. “The world has changed since Trump’s first term in office,” said Matt Mackowiak, a GOP strategist based in Austin, Texas. “The smart Republicans have seen that opportunity and have moved towards it. And it has multiple advantages: One, it is a source of fundraising. Two, it is a way to attract votes from a younger demographic. And three, it is an issue that can set up a contrast with the Democrats, and makes Republicans look like the party of the future.” Now, simmering tensions are moving into the open as alarmed Republicans eye Fairshake, its affiliated super PACs and top backers with mounting skepticism. They warn that the groups risk losing sway with Republicans after working to cultivate hard-won relationships and are questioning the durability of Gallego and Slotkin’s support. “It is reminiscent of when the Chamber of Commerce bankrolled a bunch of anti-business House Democrats who turned around and passed massive tax hikes on businesses with the so-called Inflation Reduction Act,” a senior GOP Senate aide said. “Now, the Chamber of Commerce can’t even get a meeting with House Republican Leadership to discuss their priorities.” Congressional Republicans and the Chamber of Commerce have been on rocky terms in recent years after the business lobbying group became irate with Republicans for not supporting immigration reforms and not stopping Trump's tariffs, both positions the group felt harmed American business. The chamber announced a willingness to back Democrats, a move that was unimaginable in the Obama era and that enraged many Republicans on the hill. The aide continued: “It is surprising that whoever is advising Fairshake has come up with the same flawed strategy.” One GOP strategist involved in Senate races warned that the spending risks hurting Trump as well since his allies are being attacked. “Coinbase and Fairshake are attempting to become toxic to Republicans. Spending against two key GOP candidates could jeopardize the Senate and harm Trump,” said the source, who was not authorized to speak publicly so as not to get ahead of the former president. “Gallego and Slotkin have voted against bitcoin interests and would vote to confirm a far-Left SEC Chairman. It makes no sense.” The spending was a hot topic of conversation as Republicans descended on Jackson Hole this week, alongside Marc Andreessen and representatives from Coinbase and other crypto groups, to attend consecutive retreats hosted by the Congressional Leadership Fund super PAC and House Speaker Mike Johnson, R-La. Andreessen and his business partner, Ben Horowitz, have endorsed Trump in the presidential race and criticized the Biden-Harris administration’s regulatory agenda and its promise to tax unrealized capital gains. Together, Andreessen and Horowitz are among Fairshake’s most significant donors. “Republicans are WTF about what’s going on with Fairshake, and I think that’s a pretty bad omen for the industry, that people are wondering why our main trade association is pointing its arsenal at our friends,” said one industry leader who was granted anonymity to speak freely. "A lot of people are walking around the CLF conference astonished that this is the strategic chess move that the industry has made.” A prominent member of Trumpworld likened the support “to a pro-Israel group giving money to the Squad.” A source familiar with the comments who was not authorized to speak publicly said the comparison suggests that Fairshake is supporting a cohort hostile to its interest. Trump has promised to implement crypto-friendly policies if elected, culminating in a reversal of his stance from his time in the White House, when he criticized Bitcoin as “highly volatile and based on thin air.” Trump’s campaign now accepts Bitcoin donations, and his selection of running mate JD Vance was viewed as a win for the industry. Vance has called for looser regulation of crypto and disclosed that he has $250,000 to $500,000 worth of bitcoin among his assets. Mackowiak said the shift is in part generational, with Vance credited with convincing a group of Silicon Valley investors to host Trump on their popular podcast and hold a San Francisco fundraiser that raked in millions. A former Trump regulator said that a future Trump administration would invite “a more nuanced approach to regulation” around crypto but that a regulatory shift should be expected regardless of who wins the presidential race. “It’ll just be faster if you have a Trump presidency.” Since taking over the Democratic Party’s nomination, Vice President Kamala Harris has begun seeking a “reset” with the crypto industry, with executives from Coinbase, Ripple and Kraken voicing their concerns to the White House during a Zoom call, according to Bloomberg. Democrats have launched a Crypto4Harris group that is seeking to formalize the industry’s ties to the presidential candidate. Top Harris surrogates are also signaling a more open environment should she win in November, with Maryland Gov. Wes Moore promising during a recent interview on CNBC that Harris would offer a regulatory framework that would be more business-friendly than under Biden. The former regulator said many are still skeptical, however. “The big political question here is, can Harris convince proponents of industry that she has done a 180, or is it just talk?” he said. “Because they will not believe that she will cross Elizabeth Warren.”

A.L.S. Stole His Voice. A.I. Retrieved It. 2024-08-14 21:12:33+00:00 - Four years ago, Casey Harrell sang his last bedtime nursery rhyme to his daughter. By then, A.L.S. had begun laying waste to Mr. Harrell’s muscles, stealing from him one ritual after another: going on walks with his wife, holding his daughter, turning the pages of a book. “Like a night burglar,” his wife, Levana Saxon, wrote of the disease in a poem. But no theft was as devastating to Mr. Harrell, 46, as the fading of his speech. He had sung his last Whitney Houston song at karaoke. A climate activist, he had delivered his last unassisted Zoom presentation to fellow organizers. Last July, doctors at the University of California, Davis, surgically implanted electrodes in Mr. Harrell’s brain to try to discern what he was trying to say. That made him the latest test subject in a daunting scientific quest, one that has attracted deep-pocketed firms like Elon Musk’s company Neuralink: connecting people’s brains to computers, potentially restoring their lost faculties. Doctors told him that he would be advancing the cause of science, but that he was not likely to reverse his fortunes. Yet the results surpassed expectations, the researchers reported on Wednesday in The New England Journal of Medicine, setting a new bar for implanted speech decoders and illustrating the potential power of such devices for people with speech impairments. “It’s very exciting,” said Dr. Edward Chang, a neurosurgeon at University of California, San Francisco, who was not involved in Mr. Harrell’s case but has developed different speech implants. A device that just years ago “seemed like science fiction,” he said, is now “improving, getting optimized, so quickly.” Mr. Harrell’s team sank into his brain’s outer layer four electrode arrays that looked like tiny beds of nails. That was double the number that had recently been implanted in the speech areas of someone with A.L.S., or amyotrophic lateral sclerosis, in a separate study. Each array’s 64 spikes picked up electric impulses from neurons that fired when Mr. Harrell tried to move his mouth, lips, jaw and tongue to speak.

Texas Gov. Greg Abbott vows to keep busing migrants north. One problem: Not enough migrants. 2024-08-14 21:10:00+00:00 - Republican National Convention delegates erupted in applause last month when Texas Gov. Greg Abbott doubled down on his commitment to send buses full of migrants to blue cities. “We have continued busing migrants to sanctuary cities all across the country,” Abbott told the cheering crowd in Milwaukee. “Those buses will continue to roll until we finally secure our border.” But the buses have not been rolling on a consistent basis for months because of a steep drop in the number of migrants apprehended at the southern border, according to officials and migrant shelter operators in Texas and in a half-dozen big cities across the U.S. Roughly 117,000 migrants were stopped in May, down from a record 300,000 in December. In June, the number dropped even further — to about 84,000, the lowest monthly total since President Joe Biden took office in 2021. “They now come much less frequently,” said Josh Goldfein, a staff attorney for the Legal Aid Society of New York, “because they don’t have enough people to cross the border to fill up a bus.” White House officials and immigration advocates attribute the slowdown to an enhanced crackdown on U.S.-bound migrants by Mexican authorities and Biden’s executive action in June restricting who can claim asylum at the southern border. A spokesman for Abbott acknowledged that there were now fewer migrants to bus out of state, but said that it was the governor’s actions in Texas that fueled the drop in migrants crossing the border. “Texas has decreased illegal crossings into the state by 85% thanks to our historic border mission,” the spokesman, Andrew Maheris, said. “Fewer illegal crossings into Texas means there are fewer buses departing for sanctuary cities.” A bus carrying migrants arrives in New York City on Sep, 4, 2022. Lokman Vural Elibol / Anadolu Agency via Getty Images file Abbott started busing in 2022 as part of Operation Lone Star, an $11 billion program designed to address the migrant surge in Texas. Large numbers of migrant buses rumbled out of the border towns of Del Rio and McAllen last year. But it has been several months since a single bus has left either of the two cities, local officials and migrant shelter operators told NBC News. The last buses sponsored by Abbott to leave Laredo and Brownsville rolled out in January, according to people familiar with the issue. And the number of buses leaving El Paso has fallen off sharply in the past few months, according to two nonprofits that serve migrants. “The opportunity exists for buses every Wednesday if the need is there,” said Bill Irvin, of the nonprofit Opportunity Center for the Homeless. "And honestly, I have not had the need to use those buses from here for six to eight weeks. But that shows you how low the census has become amongst all of the shelters here in El Paso.” A spokesperson for the Texas Division of Emergency Management, which has managed bus logistics in the past, said bus departures have fluctuated over time “due to the number of individuals processed and released by the federal government in overwhelmed border communities, which have an impact on passenger numbers.” “The season/weather conditions seem to have an impact as well,” the spokesperson added in an email. But officials in multiple cities that had been receiving buses in the past said none have arrived from Texas since January. The last bus to reach Philadelphia arrived on Dec. 17 with 29 people from Del Rio, Texas, according to a spokesperson with the city’s Office of Immigrant Affairs. Migrants board a Wilmette Metra train to Chicago in April after traveling by bus from El Paso, Texas. Armando L. Sanchez / Chicago Tribune via Getty Images file No Abbott buses have arrived in Washington, D.C., this year, according to a person familiar with the influx. None are believed to have rolled into Los Angeles since Jan. 20, according to Joseph Riser, of the county’s office of emergency management. And he said that bus was carrying only 18 people. “They came pretty sparsely loaded,” he said. Denver last received a bus arranged by Abbott’s office in June, according to a city official. A bus arrived in a Chicago suburb that same month, but none has rolled into the city of Chicago since Christmas, officials said. Chicago is set to host the Democratic National Convention next week. A spokesperson for the mayor's office said the city isn't expecting an influx of new arrivals but is making preparations just in case. And in New York, the buses largely stopped arriving after Mayor Eric Adams imposed restrictions on them in December and filed a lawsuit in January against 17 bus companies that were bringing migrants to the city from Texas. Instead, the buses had been dropping off migrants in New Jersey, where they were given train tickets to Manhattan. But even those buses mostly stopped in June after Biden signed his executive action, according to immigration activist Power Malu, who took a leading role in welcoming migrants to the city. He coordinated his efforts in New York with a network of immigration advocates in Texas via a chat group on an encrypted app. “We always knew when the buses were coming,” said Malu, who runs the grassroots organization Artists-Athletes-Activists. Malu noted that while the buses from Abbott made headlines, much of the flow into New York during the historic migrant surge was through airports and migrants paying for their own bus tickets. Local officials in Texas border towns say the lack of migrants coming across the border has caused some shelters to recalibrate. Victor Trevino Jr., who works as an attorney for the mayor of the city of Laredo, said, "We’re even getting NGOs now having to downsize because of the lack of intakes."

NASA Says It Needs to Decide Soon How Starliner Astronauts Will Come Home 2024-08-14 21:09:48+00:00 - A week ago, NASA officials said they would most likely need to decide by mid-August on how to safely bring home two astronauts who had traveled to the International Space Station on Boeing’s troubled Starliner spacecraft. But on Wednesday, NASA said a decision remained at least a week away. “We’ve got time available before we bring Starliner home, and we want to use that time wisely,” said Ken Bowersox, the associate administrator for NASA’s space operations mission directorate. But he acknowledged that NASA could not push back a decision indefinitely. “We’re reaching a point where that last week in August, we really should be making a call, if not sooner,” he said. The mission, which launched in June with the NASA astronauts Suni Williams and Butch Wilmore, was a test flight that carried people to orbit in the Boeing spacecraft for the first time. It was designed to shake out problems before Starliner was to begin regular missions next year to ferry NASA crews to and from the space station.

Cisco cutting 7% of workforce, reports earnings and revenue beat for quarter 2024-08-14 21:09:00+00:00 - Cisco shares popped in extended trading on Wednesday after the networking company said it's cutting 7% of its global workforce and reported quarterly results that topped analysts' estimates. Here are the key numbers: Earnings: 87 cents per share, adjusted, vs. 85 cents per share estimate, adjusted, according to LSEG. 87 cents per share, adjusted, vs. 85 cents per share estimate, adjusted, according to LSEG. Revenue: $13.64 billion vs. $13.54 billion estimate, according to LSEG. Cisco said in a filing that it's implementing a restructuring plan that will result in $1 billion in pre-tax charges to its financial results and will "allow it to invest in key growth opportunities and drive more efficiencies in its business." The company said $700 million to $800 million of charges will be recognized in the current quarter, with the rest hitting over the course of fiscal 2025. It's the second major round of layoffs for Cisco, which said in February that it was eliminating 5 % of its workforce, or over 4,000 jobs. Cisco had 84,900 employees at the end of fiscal 2023, before the initial job cuts. Cisco is mired in an extended stretch of declines, with sales falling for a third straight quarter. The company's core networking business, which includes switches and routers, has been in decline since large enterprises started moving to the cloud years ago. The company has bolstered its software and securities business to diversify and bring in more recurring subscription revenue. Revenue in the fourth quarter dropped 10% from $15.2 billion a year earlier, Cisco said. Sales for the fiscal year declined for the first time since 2020. The slide is projected to last for one more period. For the first quarter, Cisco said it expects revenue of $13.65 billion to $13.85 billion, down from $14.7 billion in the prior year. Analysts were expecting $13.7 billion, according to LSEG. Cisco said in recent quarters that the revenue slippage stemmed from certain clients setting up equipment that they'd received in previous periods. While the downward trajectory has continued, Cisco outperformed expectations with the help of increased subscription revenue from the $28 billion acquisition of Splunk, which closed in March and was the company's biggest deal ever. In the latest quarter, networking revenue plummeted 28% to $6.8 billion. Security revenue rose 81% to $1.8 billion, and collaboration revenue was about flat at $1 billion. Splunk contributed $960 million in revenue. Net income in the quarter fell 45% to $2.2 billion, or 54 cents a share, from $4 billion, or 97 cents per share, a year earlier. Shares of Cisco were down 10% this year, prior to the close, while the Nasdaq was up about 14%. The stock rose 5.5% to $47.92 after hours. WATCH: Cisco announces third tranche of investments in Taiwan and first in Vietnam

This Blue Zone resident turns 100 today — living proof that taking it easy on yourself is great for longevity 2024-08-14 21:08:10+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. You would not believe Ester van den Hoven is turning 100 today. The first time I met her, in June, the sprightly 99-year-old was dashing out for a 10-minute walk in the California sunshine. Is that Ester? I wondered, doing a double-take as I rolled towards the parking lot of her nursing home. Can't be, I thought. This woman is elderly, sure, but there's no way she's about to turn 100. A short figure wearing sky blue shorts, a matching shirt, oversized movie star sunglasses, and a beaming smile. She looks several decades younger than her years. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. "Most people say that," she said, laughing, when I shared the thought with her later. "I don't even know how old people should look — I don't have a recipe for that!" Advertisement Van den Hoven with her great-grandchildren. Hilary Brueck Van den Hoven lives in Loma Linda, California, one of the world's so-called "Blue Zones." A hugely popular body of research argues that these five places — small, tight-knit areas of Italy, Greece, Costa Rica, Japan, and this dry and sunny town just outside Los Angeles — are longevity hot spots, where people easily live to 100, in good health and with strong community support. Like most Loma Lindans, van den Hoven doesn't dwell on the mystery of why people seem to live so well here — though she does seem to be living proof of the phenomenon. She just wakes up every day thanking God she's still around. Her easygoing, pious lifestyle sits in sharp contrast to that of most other Californians. She's not one of those 100-year-old anomalies who enjoys a regular shot of gin, or lives off of hamburgers and chocolate. She's more like a living data point, illustrating what study after study has shown for so long: people who live to 100 are genetically lucky, yes it's true, but most also tend to find comfort in some higher purpose. They seek a balance between remaining active and staying connected each day, while also cradling a deep sense of inner peace and serenity that allows them to keep chronic stress to a minimum. Daily exercise, veggies with plenty of dressing, and a few supplements Van den Hoven's routines are simple and clear. First, she participates in as many activities as she can — whether it's a morning aerobics class at the nursing home where she's lived now for nine years, or a virtual sabbath church service celebrating her Adventist faith. Advertisement "I think a lot of the people feel it's too difficult to go and sit and do the exercises, they tell you they're too sore, or too old, or too weak, or too something," she said. "But I try to go." Her diet is also unfussy — a predictable rotation of cafeteria staples including daily fresh veggies, Blue Zone legumes like lentils, and sides including baked potatoes. She likes extra ranch dressing on her greens, and enjoys a little meat from time to time when she's out on the town, but otherwise eats the lacto-ovo vegetarian diet so many here observe, and largely avoids chocolate, which she "dearly loves" but also knows can keep her up at night. Related stories She takes a few supplements, and one prescription medication, but other than that, has very few health concerns, a feat her doctor, geriatrician Wessam Labib says is "very special." She doesn't have a super strict supplement routine, but some of the things van den Hoven keeps handy in her kitchen include calcium, turmeric, and coenzyme Q10. Hilary Brueck "Typically when I see patients at her age, they're not as healthy as her," he said. "They might have some kind of diabetes or congestive heart failure." Advertisement Sense of purpose Hilary Brueck Van den Hoven's small apartment has memories of her past on every wall. There are framed landscapes from Germany, where she was born, and lots of photos of family: her parents, her husband, her children, her grandchildren, and their children too. "I don't have any enemy, I'm not mad at anything, I'm not much worried," she said of her approach to aging, the softest hint of a German accent lingering on the end of her final word. "Sometimes when it gets evening, I think you know, something could happen tonight, and I don't wake up tomorrow. But I'm ready. I pray to God that I'm ready every day." Without too much effort, this daughter of a pastor has become increasingly religious as she ages — though she says she would never want to sermonize about it too much to others, or be given any overly-prescriptive dogmas to follow. "Sometimes I like to talk to a pastor, but I don't want to be preached at," she said. "I like to be kindly spoken to and told, 'you know, this would be easy on you.'" Advertisement She has a Bible companion in her living room and enjoys reading from it every day, but doesn't want to have her picture taken next to it, for fear she might appear "too holy." "I feel in my heart I'm closer to God now than if I had died when I was 60," she said. "So God maybe knew, 'don't let her die. She's not ready,'" she says with a laugh. Labib says this "internal peace" she exudes is typical of people who make it to 100 around Loma Linda. In addition to some lucky genetics and regular exercise, which are both key to cracking a century of life, the anxiety-free attitude and faithful lifestyle van den Hoven has adopted seems to be an integral part of what keeps many centenarians alive. In one 2016 study, scientists at Harvard found women who attended regular religious services were less likely to die an early death, and felt stronger social support around them. Related stories Van den Hoven said she started using a walker after she fell down a few times. "God is giving me a hint," she said. Hilary Brueck "They typically have a very cheerful personality, they don't take things to heart," Labib said. They're just "less critical." Advertisement They're not too hard on themselves, either, and may cede some control over their own mortal timeline to a higher power. The oldest American, 115-year-old Elizabeth Francis, lives about 1,500 miles away from here in Houston, Texas, but much like van den Hoven, she credits her longevity to God, calling it "the good Lord's blessing" that she's still alive. It's a stark contrast to the modern anxiety economy, where individual burnout is almost the norm. There's a sense van den Hoven is part of something larger than herself, yes, but without too much pressure or anxiety attached to her role. The importance of sharing memories with friends Sure, van den Hoven fears death, but she doesn't dwell on it. She is lighthearted about her aging process. Instead of dwelling on what's to come, or focusing on regret, she thinks about the here and now — and the past. Her short-term memory is "shot," she tells me, but she remembers vividly what life was like living in the Hague during the Second World War, down to where the subterranean shelters were located on her street, the spot in the backyard where a bomb fell once, and the confusing way news traveled in a time of widespread Nazi propaganda. She still remembers gradually discovering the true extent of the genocide in the years after the war, she told me. We converse for hours, discussing her childhood in both Germany and Turkey and her teenage years in Holland, where she met her husband, who would soon become her confidant for life. Advertisement Ester van den Hoven says her husband was her best friend for life. They met when they were about 12 years old. Hilary Brueck "I sometimes long for people to whom I can be open, because I don't have a good friend," she said, acknowledging the importance of friendships for longevity. "I miss somebody like my husband." When he died 12 years ago she thought "will I make it one year beyond this?" Together, after Hitler's reign, they'd traveled from the Netherlands to Australia, then to the US, all in search of a place that would be "easier" to live and raise a family, with better jobs, and more time for worship on Saturdays. As we chat about her life and how she made it this far, we're both so excited to uncover more of the past that we forget to eat lunch — which includes a bright salad of lettuce, carrot strips, tomatoes, and beet slices. Instead, we skip straight to dessert. The nursing home is serving cold orange sherbet, which is a must on this hot summer day (she'll save the salad for later). I come away from our meeting feeling like I've made a new friend, even if she can't remember the details of everything we've just discussed. Advertisement She considers English her "mother tongue" now, but grew up speaking German and Dutch. Hilary Brueck "Think of me with friendliness," she says, bidding me goodbye. "See you next time." Will I see her again, though? Suddenly, a wave of sadness washes over me. I'm out here on the hot pavement contemplating death. Later, I let it go. I remember how nimbly she bounded around the apartment, jumping up and down from her chair with ease. And I'm thinking of a conversation I had with her doctor, who certainly thinks that with her genetics, and her attitude, it's possible. "If she stays the Ester I know, I wouldn't be surprised if she's with us for many, many years to come," he says.

FTC bans fake online reviews, inflated social media influence; rule takes effect in October 2024-08-14 21:04:00+00:00 - Federal Trade Commission Chair Lina Khan testifies during a hearing of the House Appropriations Subcommittee on Financial Services and General Government, May 15, 2024. The Federal Trade Commission on Wednesday voted unanimously to ban marketers from using fake reviews, such as those generated with AI technology, and other misleading practices to promote their products and services. All five FTC commissioners voted to adopt the final rule, which will go into effect 60 days after it is published in the Federal Register, the government's official catalog of rules and notices. Typically, rules are published within days of their adoption, meaning that consumers can expect to see the FTC's fake-review ban go into effect starting in mid-October. "Fake reviews not only waste people's time and money, but also pollute the marketplace and divert business away from honest competitors," FTC Chair Lina Khan said in a statement. Along with prohibiting reviews written by nonhumans, the FTC's rule also forbids companies from paying for either positive or negative reviews to falsely boost or denigrate a product. It also forbids marketers from exaggerating their own influence by, for example, paying for bots to inflate their follower count. Violations of the rule could result in fines being issued for each violation, according to the rule. This means that for an e-commerce site with hundreds of thousands of reviews, penalties for fake or manipulated reviews could quickly add up. With the rise of e-commerce, influencer marketing and generative AI, more advertisers are turning to automated chatbots such as ChatGPT to quickly generate user reviews for products sold online. The result: Consumers sometimes end up purchasing items based on false praise or misleading promises.

DaVita HealthCare Is Up 0.56% in One Week: What You Should Know - DaVita (NYSE:DVA) 2024-08-14 20:59:00+00:00 - Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us. Below, we take a look at DaVita HealthCare DVA, which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions. It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. DaVita HealthCare currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Set to Beat the Market? In order to see if DVA is a promising momentum pick, let's examine some Momentum Style elements to see if this kidney dialysis provider holds up. A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area. For DVA, shares are up 0.56% over the past week while the Zacks Medical - Outpatient and Home Healthcare industry is down 3.11% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 5.9% compares favorably with the industry's 0.16% performance as well. While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Shares of DaVita HealthCare have increased 5.16% over the past quarter, and have gained 38.63% in the last year. On the other hand, the S&P 500 has only moved 4.41% and 23.25%, respectively. Investors should also take note of DVA's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now, DVA is averaging 698,096 shares for the last 20 days. Earnings Outlook The Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with DVA. Over the past two months, 2 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost DVA's consensus estimate, increasing from $9.62 to $9.90 in the past 60 days. Looking at the next fiscal year, 2 estimates have moved upwards while there have been no downward revisions in the same time period. Bottom Line Taking into account all of these elements, it should come as no surprise that DVA is a #1 (Strong Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep DaVita HealthCare on your short list. To read this article on Zacks.com click here.

Cisco cuts thousands of jobs, 7% of workforce, as it shifts focus to AI, cybersecurity 2024-08-14 20:57:44+00:00 - SAN JOSE, Calif. (AP) — Cisco Systems is planning to lay off 7% of its employees, its second round of job cuts this year, as the company shifts its focus to more rapidly growing areas in technology, such as artificial intelligence and cybersecurity. The company based in San Jose, California, did not specify the number of jobs it is cutting. It had 84,900 employees as of July 2023. Based on that figure, the number of jobs cut would be about 5,900. In February, Cisco announced it would cut about 4,000 jobs. The networking equipment maker said in June that it would invest $1 billion in tech startups like Cohere, Mistral and Scale to develop reliable AI products. It recently also announced a partnership with Nvidia to develop infrastructure for AI systems. Cisco’s layoffs come just two weeks after chipmaker Intel Corp. announced it would cut about 15,000 jobs as it tries to turn its business around to compete with more successful rivals like Nvidia and AMD. Intel’s quarterly earnings report disappointed investors and its stock took a nosedive following the announcement. In contrast, Cisco’s shares were up about 6% after-hours on Wednesday. In a foray into cybersecurity, Cisco launched a cybersecurity readiness index back in March to help businesses measure their resiliency against attacks. Cisco Systems Inc. said Wednesday it earned $2.16 billion, or 54 cents per share, in its fiscal fourth quarter that ended on July 27, down 45% from $3.96 billion, or 97 cents per share, in the same period a year ago. Excluding special items, its adjusted earnings were 87 cents per share in the latest quarter. Revenue fell 10% to $13.64 billion from $15.2 billion. Analysts, on average, were expecting adjusted earnings of 85 cents per share on revenue of $13.54 billion, according to a poll by FactSet.