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Flash floods foreshadow a threatening reality in New York City


Cars drive along a flooded street on Church Avenue amid a coastal storm on September 29, 2023 in the Flatbush neighborhood of Brooklyn borough New York City.

Michael M. Santiago | Getty Images News | Getty Images

A severe storm dumped more than 7 inches of rain in less than 24 hours over parts of New York City on Friday, turning streets into fast-moving rivers and grinding subway travel to a halt as water cascaded into underground transit stations.

The storm, which hit just two years after flooding from the remnants of Hurricane Ida battered the five boroughs and killed at least 13 people in the city, laid bare how vulnerable the Big Apple’s aging infrastructure is to extreme weather events that are intensified by climate change. And more than a decade after Hurricane Sandy forced officials to rethink the meaning of climate resilience in New York City, it appears there’s still much to be done.

Heavy rainfall of up to 2.5 inches per hour were reported in some of the hardest-hit places. A number of roads were closed, cars were submerged and several city buses were trapped as a result of flash flooding. Subways, regional rail lines and air travel was suspended or severely delayed, and at least one school in Brooklyn was evacuated during the storm.

“The reality staring city leaders in the face, including in places like New York, is that the climate is getting more extreme, more unpredictable and requiring more investment,” said Joseph Kane, a fellow who focuses on infrastructure at the Brookings Institute, a nonprofit think tank. “Usually, it’s too little too late.” 

Steve Bowen, chief science officer for Gallagher Re, a global reinsurance broker, said extreme weather events like this are exposing how quickly risks are shifting in cities like New York as climate change intensifies rainfall and existing infrastructure gives out. 

A warmer atmosphere can hold — and deliver — more moisture, which can make storms more intense, Bowen said.

“The bottom line is that we have infrastructure in New York, infrastructure all across the U.S. and frankly in many, many parts of the world that is just simply not capable of withstanding the climate that we’re seeing today and certainly not the climate that is yet to come in the future,” Bowen said. 

Around 23 million people across New York, New Jersey and Connecticut were under flood watches on Friday. New York Gov. Kathy Hochul declared a state of emergency for New York City, Long Island and the Hudson Valley, calling the storm a “life-threatening rainfall event.”

New York City Mayor Eric Adams, who also issued a separate state of emergency, faced backlash for being slow to address the public and for not doing enough early on to warn residents about the seriousness of the situation.

A vehicle sits submerged after it got stuck in high water on the Prospect Expressway during heavy rain and flooding on September 29, 2023 in the Brooklyn Borough of New York City. 

Spencer Platt | Getty Images

Zachary Iscol, New York City’s emergency management commissioner, said that Friday was the city’s wettest day since Hurricane Ida. 

Hurricane Sandy, in October 2012, was supposed to have been a wake-up call to New York officials about climate and weather risks.

Sandy made landfall as a post-tropical cyclone near Atlantic City, and caused a catastrophic storm surge along the coast of New York and New Jersey. The storm cut power to 2 million New Yorkers and killed 43 city residents, according to the city comptroller’s office. Nearly 70,000 housing units were damaged or destroyed. The storm caused about $19 billion in damage to New York City. 

Not enough progress has been made in hardening New York to its climate risks since, according to the city comptroller’s office.  

“Nearly a decade after Superstorm Sandy and six months after Hurricane Ida, we have not done enough to prepare for future storms,” Louise Yeung, the comptroller’s chief climate officer, told the city council in April 2022. “Meanwhile, our decades-old infrastructure continues to age.”

A report from the comptroller’s office found that the city had spent only 73% of the $15 billion in federal grant funding given to the city after Hurricane Sandy as of June 2022. Most of the city’s own capital contributions to resilience projects had gone unused. 

Progress has been “plodding,” the report said. 

This flash-flooding incident and Hurricane Ida have added new concern, Yeung said in an interview. Many of the investments the city made after Hurricane Sandy — like constructing floodwalls, berms and levees — are geared to managing coastal flooding and sea level rise, not extreme precipitation. 

“Heavy rainstorms like the one we are seeing today are becoming our new normal as climate change intensifies,” Yeung said, adding that it’s a problem that requires different investments like expanding green infrastructure, upgrading the storm sewer system and investing in better real-time emergency communication that is prepared for localized flash flooding. 

“We are not fixing things at the pace our climate is changing and that’s going to continue to be a challenge every time we get one of these rain storms or hurricanes,” Yeung said in an interview. 

In Hurricane Ida, 11 people died after flash flooding overwhelmed and trapped them in their basement apartments, most of which aren’t legal residences or known to the city. The comptroller’s office found tens of thousands of basements were at risk of flooding and suggested the city register basement dwellings, require safety inspections and take steps to protect occupants, like installing valves that prevent sewer water from rising into cellars.

Mona Hemmati, a postdoctoral research scientist at Columbia Climate School in New York City, said the storm serves as a reminder of the vulnerabilities faced by coastal communities and how those vulnerabilities are compounded by climate change.

In densely populated cities like New York, flooding risks are heightened because of the built environment and lack of green spaces.

“There are huge amounts of impermeable surfaces in highly urbanized areas, which means water cannot seep underground, which creates a lot of runoff and urban flooding,” she said.

Hemmati added that the city’s stormwater management systems are outdated and were not designed to handle the level of runoff that is now a reality.

But Hemmati said the city deserved some credit for prioritizing climate resilience in rebuilding efforts after Superstorm Sandy, which included upgrading floodgates, fortifying shorelines and developing citywide models to study runoff flows in different climate scenarios. Other infrastructure projects, such as hardening storm barriers and the city’s subway system, will take more time — and money.

New York City Department of Environmental Protection workers attempt to clear blocked drains after heavy rains as the remnants of Tropical Storm Ophelia bring flooding across the mid-Atlantic and Northeast, at the FDR Drive in Manhattan near the Williamsburg bridge, in New York City, U.S., September 29, 2023. 

Andrew Kelly | Reuters

“I don’t expect every problem can be solved in just a couple of years, but it is getting better,” she said. “It is the right track, but it’s not enough, for sure.”

Hemmati said that in addition to state and local efforts, members of the public can also contribute to building climate resilience in their communities.

“Climate issues aren’t just happening at the government level,” she said. “With all these hazards — rainfall, flooding, wildfires, extreme heat — people should educate themselves about the risks.”

Bowen, from Gallagher Re, said most New Yorkers do not carry flood insurance on their properties, which puts their communities at risk. 

“I’m assuming that when we start to see some of the damage totals coming out of this, that a significant portion is just going to end up being uninsured,” Bowen said. “It’s just the latest data point that something’s gonna have to change.”

And the potential government shutdown, if prolonged, could present challenges as New Yorkers try to get back on their feet.

The National Flood Insurance Program’s authorization will lapse on Oct. 1 unless Congress takes action before then. The lapse will limit the program’s ability to borrow from the U.S. Treasury to pay out claims after a flood. The program will pay out claims from its reserves until it runs out of money, or Congress acts, according to the Congressional Research Service. 

The majority of employees at the Federal Emergency Management Agency are likely to be exempt from the shutdown, but other basic federal government functions could be slowed.

Christie knocks Trump for 'purely selfish' anti-debate rhetoric


GOP presidential candidate Chris Christie went after former President Trump for suggesting the Republican National Committee (RNC) nix remaining primary debates, claiming Trump is scared of the competition.

“He wants to end these things for purely selfish reasons because he doesn’t want to give exposure to the candidates who are challenging him out there,” Christie, the former governor of New Jersey, said in a CNN interview Friday.

Trump chose to skip the first two primary debates and will likely skip the third, arguing that they are not necessary given his large polling lead. Christie has repeatedly called out Trump’s lack of attendance.

“He has no legitimacy to his point he is making.” Christie said that Trump was ducking the debates. It’s wrong, and it’s disrespectful of Republican voters. That’s why I will continue to push these debates forward.” “We don’t have a primary.” To the former governor’s disappointment, only a few candidates made jabs at Trump. Few other candidates made jabs at Trump, to the former governor’s disappointment.

“I don’t understand what they’re doing, because if you want to go beat, you have to go beat him,” he said.

Florida Gov. Ron DeSantis — seen as Trump’s closest competition in the 2024 race — and former U.N. ambassador Nikki Haley also criticized the former president for his decision.

“Donald Trump is missing in action,” DeSantis said Wednesday during the second GOP debate in California. He should be here tonight. Haley told Fox News in an interview on Thursday that “you can’t win by being absent.” The next GOP primary debate will take place in Miami on Nov. 8. Christie does not believe that the Republican leadership is going to get rid of debates anytime soon. “

JetBlue raises flight attendant pay, union agrees to support merger with Spirit


JetBlue Airways aircraft are pictured at departure gates at John F. Kennedy International Airport in New York.

Fred Prouser | Reuters

JetBlue Airways said it will raise flight attendant pay next year and provide other bonuses to staff while the union representing cabin crews agreed to support the carrier’s plan to acquire budget carrier Spirit Airlines.

Starting in November, flight attendants will get 5% raises. Including another 2% raise, a slate of other incentives and previously negotiated raises under flight attendants’ union contract, their raises in 2026 will compound to 21.5% increases, according to a company memo, which was seen by CNBC Friday.

The raises come as the New York-based carrier is in the process of trying to acquire Spirit, a merger the Justice Department has sued to block. A trial for that lawsuit is set to begin on Oct. 16 in Boston.

JetBlue agreed not to furlough or displace any flight attendants or close any associated bases for seven years after a potential acquisition of Spirit goes through, the memo said.

“With this agreement made by your TWU Local 579 Executive Board and JetBlue, we support the JetBlue and Spirit transaction and will not hold an additional informational picket or speak publicly against the acquisition,” the union said in a note to members. JetBlue didn’t immediately comment.

JetBlue also agreed to additional pay for staff that fly the carrier’s trans-Atlantic routes and in its Mint business-class cabin, as well as other incentives, according to a letter of agreement with the Transport Workers Union, which represents JetBlue’s 7,000 flight attendants.

BOJ dispels view risk of loss will impede easy-policy exit


(c) Reuters. Bank of Japan Governor Kazuo Ueda speaking at a media group interview in Tokyo, Japan on May 25, 2023. REUTERS/Kim Kyung-Hoon/File Photo

By Leika Kihara

TOKYO (Reuters) – Bank of Japan Governor Kazuo Ueda said considerations over the central bank’s finances would not prevent it from phasing out its massive monetary stimulus when the appropriate time comes.

While Ueda said there was “still a distance to go” before the BOJ exits ultra-loose monetary policy, his remarks come at a time when markets are rife with speculation he will dismantle his predecessor Haruhiko Kuroda’s radical stimulus programme.

Speaking at an academic seminar on Saturday, Ueda said the BOJ’s profits will be squeezed when it raises interest rates because doing so would increase interest rate payments it makes to financial institutions’ reserves parked at the central bank.

But it is also likely to earn higher interest income as its current government bond holdings are replaced by higher-yielding bonds, he said, adding it was hard to accurately predict to what extent a future exit could affect the BOJ’s finances.

“The objective of the Bank’s monetary policy is achieving price stability, which is its mission as stipulated by law. The Bank’s finances and other factors do not prevent it from implementing necessary policies, Ueda said in a speech at the annual meeting of the Japan Society of Monetary Economics. It also maintains a massive asset-buying programme deployed in 2013. The BOJ also continues to maintain a massive asset buying programme that was implemented in 2013.

Manhattan Sellers Beware: The Real Estate Market Is Transitioning In Favor Of Buyers


The Manhattan residential sales market fluctuates in response to a variety of factors, both internal and external, as do many other economic landscapes. The recent data underscores a transitional phase marked by a rise in seller challenges and a simultaneous uptick in buyer opportunities.

July 2023: $1,427

August 2023: $1,444

  • But this uptick doesn’t tell the whole story because sales data lags behind real-time market conditions. The delay is due to the time gap that occurs between the signing of a contract and the official recording of the sales price. This can sometimes take several months. This delayed data is like using the rearview mirror in order to navigate. It reflects past conditions, not current ones. Sellers basing their pricing strategy on such historical data might find themselves misaligned with the prevailing market sentiment, risking either overpricing or underpricing their listings.
  • Lagging Sales Data
  • If we break down the recorded sales that make up the months of June, July, and August, it’s obvious that the sales are mostly deals done two months prior. The sales in June reflect the activity of April, those in July reflect that of May, and those in August reflect that of June. This is a backward-looking approach. This may work while the market moves in one direction, but when the data is slow to reflect real-world changes, buyers and sellers diverge.

The Sales Lag Visualized | Contract signed dates for units closed each month with median sales price

per month shown on the median contract signed date for that month

Also, notice that the number of deals signed at or above $3,000 per square foot has fallen each month, a sign that luxury activity, typically a bellwether for Manhattan, has abated. Taken together, the decline in contract price per square foot and the shrinking number of “big” deals suggest a market actively contracting.

Contract Prices Lead Sales Prices | Median monthly sales prices by month of contract signed along

with median last asking price

There are three reasons, in particular, that underscore the shift in the market.

Contract Activity Breaks Lower

Liquidity, or the 30-day rolling window of contract activity, is setting new lows, typically a signal that sellers may be more open to lower bids as buyer activity fades.

Manhattan Liquidity Pace Chart


The Climate Index Cools


Sellers’ Listing Success Rate Wanes


Yet, for all its challenges, the market isn’t entirely bleak, especially for discerning buyers. The market offers some good value to those who are willing and able to make concessions and invest in interventions. For motivated buyers, now is the time to act, as you have more choice, leverage, and less pressure than usual during a typically busy season. For motivated buyers, this is the time to act, as you have choice, leverage, and less pressure than usual during a typically busy season.

Advice for Buyers

The present landscape is a window of opportunity for buyers to influence sellers to meet their terms. Due to the triple challenge of declining liquidity, decreasing listing success and a changing climate, sellers who are desperate will be more open to negotiations. The key is to strike a judicious balance between assertiveness and pragmatism, ensuring the deal doesn’t slip through.

Buyers Have the Advantage

The Manhattan residential sales market, like many economic landscapes, ebbs and flows in response to a myriad of internal and external factors. The recent data underscores a transitional phase marked by a rise in seller challenges and a simultaneous uptick in buyer opportunities.

Sellers are advised to remain nimble, frequently reassessing their strategies in line with emerging market trends. The data shows that buyers are in a better position than sellers, with more options and greater negotiation power. As with any phase of transition, the trajectory of the market is not fixed. Participants and professionals need to be vigilant in adapting to market shifts, particularly as they impact hyper-local areas. Both buyers and sellers will benefit from understanding these trends and taking action.

This golf stock is a buy even after fire at key supplier facility, Bank of America says


Bank of America says investors should take advantage of the current price drop on Topgolf callaway. Alexander Perry, an analyst at Bank of America, reiterated that he believes the stock is a buy and set a $22 price target. This target represents a gain of over 62% since Thursday’s closing price. Stocks rose more than 1% Friday. Topgolf’s shares are down over 3% in the last week after a fire in a Launch Technologies plant in Taiwan, one of its golf ball suppliers. At least nine people died. MODG mountain 202309-22 A tough week for MODG. The fire caused concern about the global supply and put pressure on Topgolf’s shares. Perry believes that the company can mitigate the effects of the fire. In a note on Friday, Perry referred to a statement made by Callaway Golf following the fire. “Modg believes that it will be able ‘to mitigate most, if no all, of Callaway Golf’s business’ by shifting the supply to its Chicopee facility and other suppliers’,” he said. The fire shouldn’t have a significant impact on Topgolf venue openings or range ball supplies, given the “current inventory level and alternative supply sources.” Topgolf’s shares had been struggling before the fire. The stock has dropped 30% in the past year. Michael Bloom, CNBC’s reporter, contributed to this report.

Silas Bolden has 2 TDs to help No. 19 Oregon State beat No. 10 Utah, 21-7


CORVALLIS (Ore.) — Silas Bolden scored on a touchdown pass of 27 yards and a 45-yard run. No. 19 Oregon State defeated No. The Beavers (4-1 and 1-1 Pac-12), who had suffered a close loss last weekend to Washington State, rebounded with a 21-7 win. 16 Washington State.

Utah (4-1, 1-1) was still without quarterback Cam Rising, who warmed up with the team but was in street clothes at kickoff.

Rising, a sixth-year senior who has led the Utes to back-to-back Pac-12 titles, tore his left ACL during the Rose Bowl in January and needed surgery. He has been practicing with the team, splitting reps with Nate Johnson, but hasn’t been cleared to play.

Johnson, making his third straight start, completed just three of 12 passes for 35 yards before he was replaced with Bryson Barnes in the third quarter. Last weekend after Utah’s 14-7 victory over UCLA, Johnson apologized on social media for the lackluster performance.

But Johnson returned in the fourth quarter and threw a 41-yard touchdown pass to Thomas Yassmin with just over five minute left to avoid the shutout.

DJ Uiagalelei threw for 204 yards and a touchdown for the Beavers, who lost 38-35 at Washington State last weekend. Bolden caught 6 passes for 100 yard. Martinez led the Pac-12 in rushing average with 108 yards per game. But Utah held him to 65 yards.

No. 10 Utah Utes vs. No. 19 Oregon State Beavers Highlights | CFB on FOX

Going into the game, Utah’s rushing defense was ranked third in the nation, allowing an average of just 51 yards a game and only 2.02 yards a carry.

Oregon State coach Jonathan Smith mixed things up a bit, bringing in freshman quarterback Aiden Chiles for a series in the second quarter.

Before halftime, Bolden dove to bring down a 40-yard pass from Uiagalelei but the Beavers couldn’t capitalize and were forced to punt.

Bolden connected with Uiagalelei for a 27-yard touchdown strike early in the third quarter. Uiaalelei pitched to Bolden for the 45-yard scoring run on fourth-and-1 before the quarter was over.


The Beavers dipped a bit in the AP Top 25 after the loss last weekend to the Cougars, but the victory over another top-10 opponent should see then move up a few sports. The Utes, meanwhile, are off next week, so it’s possible Rising will return Oct. 14 against California.


Utah: The Utes also are without tight end Brant Kuithe, who like Rising hasn’t played this season while recovering from a torn ACL. … Logan Fano, a defensive end, was injured during the second quarter. He had to be carried off the field. Oregon State: For the first time in 2018, Beavers wore orange uniforms from head to toe. … Standing room only was the rule for this game. … This was Oregon State’s seventh consecutive win at Reser Stadium. Jr. was ejected early in the fourth quarter for targeting. Jr. was ejected early in the fourth quarter for targeting.


Utah: At California on Oct. 14.

Oregon State: At California on Oct. 7.

Oregon State fans storm the field after defeating Utah | CFB on FOX

Reporting by The Associated Press.


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Ford CEO says UAW is 'holding the deal hostage' over EV battery plants


Members of the United Auto Workers union picket outside the Michigan Assembly Plant in Wayne, Michigan, on Sept. 26, 2023.

Matthew Hatcher | AFP | Getty Images

DETROIT — The United Auto Workers union is holding up negotiations with Ford Motor over future electric vehicle battery plants, Ford CEO Jim Farley said during a press briefing Friday.

“I believe we could have reached a compromise on pay and benefits, but so far the UAW is holding the deal hostage over battery plants,” he said after the UAW announced it would expand strikes to two additional assembly plants — one each for Ford and General Motors.

Farley criticized the union for its targeted strike strategy, saying he feels the actions were “premeditated” and insinuating the union was never interested in reaching a deal before a Sept. 14 deadline.

“We have felt from the very beginning, between all the lines of our comments, that the original strike was premeditated and that everything is taking way too long,” he said. Farley criticized the union for its targeted strike strategy, saying he feels that the actions were “premeditated” and insinuating that they never wanted to reach a deal before a Sept. 14 deadline.

Farley said he felt from the very beginning, between all of our comments, that original strike was premeditated and everything is taking way too long. It has been frustrating. “

Farley’s public criticism of the union is uncharacteristic for Ford, which is historically viewed as the most union-friendly company of the Detroit automakers.

Farley said the company isn’t “at an impasse” with the union but warned that day “could come if this continues. “

GM CEO Mary Barra echoed much of Farley’s criticisms of Fain and the UAW’s strike strategy.

“It’s clear that there is no real intent to get to an agreement,” she said in an emailed statement Friday night. It is obvious that Shawn Fain wishes to make history, but not at the expense of the team members who are represented and the industry. “

UAW president Shawn Fain responded to Farley by saying that the CEO had not been at the bargaining tables and was “lying” about the current state of negotiations. “

It may be that he didn’t show up to bargain this week as he did for the majority of the last ten weeks. Fain stated in a Friday afternoon statement that if he was there, he would know that we sent Ford a comprehensive offer on Monday but have yet to hear back. He would also be aware that we have a wide gap on key economic issues like retirement security, post-retirement health care, and job security, especially in the EV transition. Farley has said this will result in the loss of 40 percent or more of our members jobs. “

Multibillion-dollar EV battery plants — and their thousands of expected workers — are crucial to the automotive industry’s future and uniquely positioned to have wide-ranging implications for the UAW, automakers and President Joe Biden’s push toward domestic manufacturing.

Current and former union leaders previously told CNBC that the battery plants will have to be a priority for the labor organization, regardless of whether they’re directly discussed in the national agreement, for the long-term viability of the union.

However, they’re considered a “wild card” issue in the contract negotiations. Many of the battery plants that have been announced cannot legally be included in the current talks, as they are joint venture facilities.

United Auto Workers President Shawn Fain addresses picketing UAW members at a General Motors Service Parts Operations plant in Belleville, Michigan, on Sept. 26, 2023, as U.S. President Joe Biden joined the workers.

Jim Watson | Afp | Getty Images

Ford has announced four future battery plants, including three joint ventures and a wholly owned subsidiary using battery technology licensed from Chinese auto supplier CATL. Ford earlier this week paused construction on the latter plant in Marshall, Michigan, due to the union negotiations, Farley said.

“We can make Marshall a lot bigger or a lot smaller,” Farley said Friday.

GM is the only Detroit automaker with a joint venture battery plant in operation and unionized — making it the first in the country to face this particular negotiating dynamic and a landmark plant to set standards for the industry.

Farley noted that some of the battery production won’t even be covered under the timeline of the deals that are currently being negotiated. Farley also defended previous offers from the company, including more than 20% in hourly wages, reinstatement cost-of living adjustments, job protections, and other benefits. It is irresponsible for these strikes to continue and harm thousands of families. “

Trump plans to attend New York fraud trial, seeks campaign cash before key deadline


Former U.S. President Donald Trump speaks at a campaign rally at Drake Enterprises, an automotive parts manufacturer, on September 27, 2023 in Clinton Township, Michigan.

Scott Olson | Getty Images

Donald Trump plans to attend his New York civil fraud trial next week, and on Friday blasted the case as he asked supporters to donate to his 2024 presidential campaign before a key deadline.

Two people briefed on Trump’s plans told NBC News that he will travel to New York on Sunday night, and that he intends to be in Manhattan Supreme Court on Monday and Tuesday for the first two days of the bench trial of a lawsuit by New York Attorney General Letitia James.

“After four sham arrests, indictments, and even a mugshot failed to break me, a Democrat judge is now trying to destroy my Family Business,” the former Republican president said in an email for his joint fundraising committee Friday.

“Democrats are seeking to bring down the world-famous ‘Trump Tower’ and impose what some are calling ‘the corporate death penalty’ upon me,” the email said.

In other recent fundraising pitches, Trump’s campaign said it wants to show strength in the face of his mounting legal strife by raising millions of dollars before the Federal Election Commission’s third-quarter deadline on Saturday.

The campaign raised $35 million in the prior quarter.

CNBC Politics

Read more of CNBC’s politics coverage:

Trump’s latest donor appeal came days after Manhattan Judge Arthur Engoron ruled that Trump, two of his sons, and the Trump Organization were liable for fraud for overstating the values of multiple real estate properties, including his Mar-a-Lago club in Florida.

Engoron in the same order canceled the New York state business licenses of multiple Trump corporate entities and said he would appoint a receiver to manage their dissolution. Trump plans to appeal the ruling.

The trial due to start Monday will deal with the remaining six claims of James’ lawsuit.

James in the case is seeking $250 million in damages and an order barring Trump, Donald Trump Jr. and Eric Trump from running a business in the state.

Trump is facing criminal indictments in New York and Georgia state courts, and in federal courts in Washington, D.C., and Florida. He has pleaded not guilty in those cases.

In two of those cases — in Georgia and Washington —Trump is charged with felonies related to his attempt to reverse his 2020 reelection loss to President Joe Biden.

Kansas City faces outsized impact of looming government shutdown


Many federal workers have experienced shutdowns before and some face losing income at particularly inconvenient times. A government shutdown will cause a lot of pain for people outside Washington. The majority of federal workers are located outside Washington, D.C. The federal government, for example, is the largest employer of people in the greater Kansas City area, where 41,000 people could lose their jobs temporarily. It looks more like a leafy old university than a military stronghold, once you get past the four to five gates, which are getting another upgrade. It looks more like a leafy old university than a military stronghold – that is, once you get past the four to five gates, which are getting another upgrade.


JASON BORTZ: We are primarily a training installation training and developing leaders for the United States Army.

MORRIS: Jason Bortz, public affairs officer here, says all that training comes to an abrupt stop, and this bustling post goes a whole lot quieter Monday if the government sends him and close to 4,000 other civilian staff and professors home.

BORTZ: And while you are sent home or furloughed, you are not allowed to do any work. I cannot check my email. It’s stressful. Bortz and wife have already cut back on grocery purchases. He won’t get paid during the furlough.

BORTZ: Kind of like COVID. I mean, even COVID had an impact. And we just – you get through it, and at the end of the day, we’ll make it up somehow.

MORRIS: You know what’s worse than staying home with no pay? Working without pay. Active duty soldiers, like Captain Benjamin Harney, will work without pay in a shutdown. Harney has four small children at home with his wife. His mother-in law, who lives in Texas, is waiting to help. And they’ve been fortifying their bank account.

BENJAMIN HARNEY: And we have some money put away in savings for rainy day funds. I can survive for a short time without being paid. My real concern would be, you know, not every service member is fortunate enough to have that fallback.

MORRIS: The shutdown would stop pay but not demands for payments – cars, food, credit cards, mortgages. Some banks are already marketing low, even zero-interest loans to help military personnel make ends meet through a shutdown.


AUTOMATED VOICE: If you’re calling about Navy Federal’s government shutdown loan program, press one.

MORRIS: But federal employees outside the military are less protected. Myrtle Bailey, a federal worker in Kansas City says it’s time to grow up. It’s really time to grow up, put on your big-girl and big-boy panties and adult ’cause this is serious.

MORRIS: Bailey and her husband both wor for the IRS processing center in Kansas City.

BAILEY: We are – exposed is a good word (laughter). But it’s not our first rodeo.

MORRIS: Bailey faced down a 35-day partial shutdown almost five years ago and says that now is the time to get resources in order.

BAILEY: This week you should be checking with your church, checking with food banks, checking with things you may not have had to use before.

MORRIS: Bailey, who describes herself as 69 years wonderful, has savings to draw on but not enough to weather a prolonged shutdown. She wants lawmakers to run the government like a company that cannot afford not to pay its employees. For NPR News, I’m Frank Morris in Kansas City.


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IRS consultant charged with leaking Trump's tax information


Former US President and 2024 Presidential hopeful Donald Trump speaks at the CWA (Concerned Women for America) Summit 2023 in Washington, DC, on September 15, 2023. 

Mandel Ngan | Afp | Getty Images

An IRS consultant was charged Friday in connection with wrongfully disclosing tax return information, documents that were, according to a source familiar with the matter, the leaked the tax returns of former President Donald Tump.

Charles Littlejohn, of Washington, D.C., was working at the IRS as a government contractor when he stole tax return information linked with a public official “and thousands of the nation’s wealthiest people, including returns and return information dating back more than 15 years,” prosecutors said in court documents.

A source confirmed to NBC News that Trump was the unnamed public official whose records had been leaked. CNN was the first to report that the charges pertained to the disclosure of Trump’s taxes.

A Justice Department spokesperson did not immediately respond to a request for comment Friday night.

Littlejohn, 38, provided the public official’s tax documents to an unnamed news organization, and the tax information concerning other wealthy individuals to another unidentified news organization between 2018 and 2020, prosecutors said.

In 2020, The New York Times released a bombshell report saying that it had obtained more than two decades of Trump’s tax information and that he had paid only $750 in federal income taxes in 2016 and 2017.

Littlejohn is charged with one count of unauthorized disclosure of tax returns and return information. He faces up to five years in prison if convicted, the Justice Department said in a news release.

An attorney for Littlejohn did not immediately respond to a request for comment on Friday night

DOJ special counsel cites Trump’s targeting of Milley in push for gag order


Justice Department (DOJ) special counsel Jack Smith on Friday pushed harder for a gag order that would limit what former President Trump can say publicly, citing his recent posts threatening witnesses in the criminal cases against him.

Smith and federal prosecutors initially made the request for a limited gag order earlier this month, seeking to restrict “certain prejudicial extrajudicial statements” from the former president about the case and witnesses.

“The defendant should not be permitted to continue to try this case in the court of public opinion rather than in the court of law, and thereby undermine the fairness and integrity of this proceeding,” prosecutors argued in the updated request late Friday.

The new request specifically cites Trump’s posts on Truth Social lashing out against Judge Tanya Chutkan, as well as former Vice President Mike Pence and former Joint Chiefs of Staff chairman Gen. Mark Milley — who retired on Friday. Both men are expected to be called as witnesses in the case.

In the post about Milley last week, Trump said the general committed treason and should be executed. That threat drew derision from former Trump administration officials, with Milley responding that he would take “appropriate measures” to protect himself and his family.

“No other criminal defendant would be permitted to issue public statements insinuating that a known witness in his case should be executed; this defendant should not be, either,” prosecutors wrote in Friday’s filing.

Trump has also spoken about taking “retribution” against those her considers “political enemies” if he is elected to a second term, sparking fears that he could be intimidating witnesses or impacting the jury pool for his multiple criminal trials.

“The defendant’s baseless attacks on the Court and two individual prosecutors not only could subject them to threats — it also could cause potential jurors to develop views about the propriety of the prosecution, an improper consideration for a juror prior to trial,” prosecutors argued.

Trump denounced Smith’s attempt at a partial gag order earlier this month, calling it a limit on his constitutional rights — a claim prosecutors have refuted.

“Deranged Jack Smith, he’s the prosecutor, he’s a deranged person, wants to take away my rights under the First Amendment,” Trump said earlier this month. “He wants to take away my right of speaking freely and openly.”

“Never forget our enemies want to stop us because we are the only ones that can stop them,” the former president continued. “They want to take away my freedom because I will never let them take away your freedom.”

The updated request from prosecutors also references Trump’s visit to a South Carolina gun store last week, where he appeared to purchase a handgun. Purchasing a firearm as a person charged with a felony is a crime.

A Trump spokesperson initially said he purchased the gun, but later clarified that a purchase had not taken place.

“The defendant either purchased a gun in violation of the law and his conditions of release, or seeks to benefit from his supporters’ mistaken belief that he did so,” prosecutors said. “It would be a separate federal crime, and thus a violation of the defendant’s conditions of release, for him to purchase a gun while this felony indictment is pending.”

Chutkan, who earlier this week refused to recuse herself from the case, is expected to rule on the motion at an Oct. 16 hearing.

Trump pleaded not guilty in the case related to his alleged attempts to remain in power after losing to President Biden in 2020. The case is scheduled to go to trial beginning March 4.

Inside American Airlines' new kitchen – and how it makes 15,000 meals a day


Food service on domestic airlines has drastically changed in recent years.

American Airlines just built a 214,000-square-foot facility at Dallas-Fort Worth International Airport. The facility prepares 15,000 meals per day with robots for over 800 flights every day. The new kitchen is more automated to meet the demand of passengers and minimize delays in catering. Global travel demand is expected to double by 2040, according to the International Air Transport Association.

“We have some of the highest load factors we’ve ever had in the history of American. And so we wanted to build the next generation of catering facility that would grow with us,” said Brady Byrnes, senior vice president of inflight and premium guest services at American Airlines.

Nearly 3 million passengers fly every day in the U.S., according to the Transportation Security Administration. Recent increases in premium seat purchases have put pressure on airlines to provide better and more food options.

The market has shaken off government shutdowns in the past. Here's what Wall Street expects


4 Tips To Get A Great Broker’s Opinion Of Value


Use these guidelines to get a great broker’s opinion of value.

1. Look for a Broker who uses the right sales comps.

An expert broker will have the ability to provide a more accurate opinion of value if they are familiar with comparable properties. Your broker should focus on data and sales comps. The price per square feet of comparable assets will help them to better understand how a particular property may perform on the market. The price per unit is usually a good indicator for multifamily properties. Your broker will check the cap rate, type of tenancy and the condition of the property. The broker may even contact the broker who handled comparable sales in the past to find out why a particular property sold at a specific price. Find a broker who is familiar with current sales.

While comps can provide valuable insight into a property’s value, they are also a kind of rearview mirror. The data they provide could be a year old and might not accurately portray recent trends. They may provide data that is a year or more old, and it might not accurately reflect recent trends. The more recent data is better in markets that are fluctuating and have rising interest rates. Your broker will be able apply the details of the recent transactions to the property that you are preparing to list if they know what has been signed. Get a Broker Who Understands the Marketplace

In addition to macro trends, a great broker will be aware of the pulse of the submarket. It could be looking at employment data to determine if rates are rising, changing demographics, or what amenities are most important to residents. Estimates for commercial properties could include details about an income approach. You might find out what an investor should look for when buying a property delivered vacant. Is there a premium, for example? Someone would pay for it to be used? You could also outline any development opportunities. It is important to consider taxes as well.

4. Choose a Broker with a Proven Track Record.

Each sale helps to establish the credibility of a broker. An opinion of value will be more relevant if the broker has a long list of transactions and referrals. In an earlier article I offered to let others see my entire list of sales and contact any owner on it. This gives you a chance to use data on current market conditions and gain additional insight. There’s much more to selling than just a broker’s opinion on value. We’ll discuss these other topics in future articles. The best brokers have a marketing plan, can present the property in its best light and are ready to participate in negotiations.

Bill Ackman’s SPAC gets OK from the SEC and he’s ready for a deal: 'please call me'


Bill Ackman, Pershing Square Capital Management CEO, speaking at the Delivering Alpha conference in NYC on Sept. 28th, 2023.

Adam Jeffery | CNBC

Billionaire investor Bill Ackman said Friday that U.S. regulators have approved his unique special purpose acquisition company structure, and he’s ready to hunt for a deal.

Investors in Ackman’s unfruitful SPAC, known as Pershing Square Tontine Holdings, got a tradable right to participate in a future deal, and now it’s closer to becoming a reality. The Securities and Exchange Commission has approved what Pershing Square’s CEO called a SPARC – a special purpose purchase rights company – in which he informs investors about the acquisition before they commit funds. We promise to answer your question quickly. Many have claimed that the traditional SPAC can be inefficient for shareholders and expensive. Shell corporations that are listed on the stock exchange for the purpose of buying a private company, and then taking it public within two years. The SPARC will soon distribute special purpose acquisition rights to former Pershing Square Tontine securityholders at no cost. Ackman raised $4 billion through the largest-ever SPAC but returned it to investors when he failed to find an appropriate target company. As interest rates stabilize, the market, as well as IPOs, have showed signs of rebound.

Pershing Square said the SPARC will immediately begin to pursue a merger with private, high-quality, growth companies. It is targeting companies who seek to raise a minimum of $1.5 billion of capital, the company said.

Ackman’s Pershing Square funds could commit a minimum of $250 million and up to $3.5 billion as anchor investors in the potential transaction, the company said.

Federal judge declines to block Medicare drug price negotiations


A pharmacist holds a bottle of the drug Eliquis, made by Pfizer Pharmaceuticals, at a pharmacy in Provo, Utah, January 9, 2020.

George Frey | Reuters

A federal judge on Friday declined to block the Biden administration from implementing Medicare drug price negotiations, upholding for now a controversial process that aims to make costly medications more affordable for older Americans.

Judge Michael Newman of the Southern District of Ohio issued a ruling denying a preliminary injunction sought by the Chamber of Commerce, one of the largest lobbying groups in the country, which aimed to block the price talks before Oct. 1.

That date is the deadline for manufacturers of the first 10 drugs selected for negotiations to agree to participate in the talks.

The ruling from Newman is a blow to the pharmaceutical industry, which views the process as a threat to its revenue growth, profits and drug innovation.

The Chamber, which represents some companies in the industry, and drugmakers like Merck and Johnson & Johnson filed at least eight separate lawsuits in recent months seeking to declare the negotiations unconstitutional. The Chamber of Commerce’s lawsuit was the only one that sought a preliminary order.

President Joe Biden’s Inflation Reduction Act, which passed in a party-line vote last year, gave Medicare the power to directly hash out drug prices with manufacturers for the first time in the federal program’s nearly 60-year history

Medicare covers roughly 66 million people in the U.S., according to health policy research organization KFF.

The drug price talks are expected to save the insurance program an estimated $98.5 billion over a decade, according to the Congressional Budget Office. The Biden administration announced in August that the talks will reduce costs for 9 million seniors using the first 10 drugs, but it is unclear how much. The reduced prices for those initial medications won’t go into effect until January 2026.

The treatments are among the top 50 with the highest spending for Medicare Part D, which covers prescription medications that seniors fill at retail pharmacies.

That includes blood thinners from

Bristol-Myers Squibb and J&J, and diabetes drugs from Merck and AstraZeneca. It also includes a blood cancer drug from AbbVie, one of the companies represented by the Chamber of Commerce. Michael Newman, U.S. District Court Judge Ohio

Source: U.S. District Court

The Chamber’s lawsuit argues that the program violates drugmakers’ due process rights under the Fifth Amendment by giving the government the power to effectively dictate prices for their medicines.

The Chamber said an appeals court established a precedent that when the government sets prices, it must provide procedural safeguards to ensure a company receives a reasonable rate and fair return on investment. It

stems from the 2001 case Michigan Bell Telephone Co. v. Engler, according to the Chamber. The Medicare negotiations do not provide these safeguards and impose price caps that are well below a drug’s market value, the Chamber argued.

“There is a very, very high risk, maybe a guarantee, but certainly a very, very high risk, that this regime will result in prices that are unfair,” Jeffrey Bucholtz, an attorney for the Chamber, told judge Newman during a hearing earlier this month.

He added that drugmakers either must agree to the

price the government sets, or face an excise tax of up to 1,900% of U.S. sales of the drug. But lawyers for the DOJ said during the hearing that the program was far from compulsory. The DOJ’s lawyers said that the program was not mandatory. Netter stated that manufacturers can decide whether or not they wish to remain in the program at the current terms. If they don’t want to participate, it is their choice. The other lawsuits are scattered around federal courts in the U.S.

Biden’s pro-competition agenda put to the test as net neutrality, tech trials take shape


U.S. President Joe Biden delivers remarks prior to signing an executive order on “promoting competition in the American economy” during an event in the State Dining Room at the White House in Washington U.S., July 9, 2021.

Evelyn Hockstein | Reuters

Joe Biden has positioned himself as a pro-competition president, delighting progressives by installing their wish list of liberal antitrust enforcers early in his administration.

But this fall, his digital competition agenda will truly be put to the test, as the first of the government’s tech anti-monopoly cases is finally argued in federal court.

Tuesday marked a convergence of several long-awaited actions in competition policy and enforcement. First, the Federal Trade Commission announced its long-awaited antitrust suit against Amazon. Shortly after that, the Federal Communications Commission chair announced a proposal to reinstate net neutrality rules, which prohibit internet service providers from favoring certain websites over others.

At the same time, the Department of Justice has been litigating its own monopolization suit against Google in Washington, D.C. District Court, three years after the initial complaint was filed during the last administration. The Justice Department’s second antitrust challenge against Google is set to go to trial early next year.

During Biden’s presidency, plenty of ink has been spilled over his antitrust enforcers’ boundary-pushing approaches, particularly as they eyed deals and potential misconduct in the tech industry. But until this month, none of the federal tech monopoly trials had kicked off.

Before the swearing in of Democrat Anna Gomez this week, the FCC had been deadlocked, unable to move forward with any measures that couldn’t gain the support of at least one of its Republican commissioners.

Antitrust cases and government rulemaking are famous for their often long timelines. But with all of these actions now set in motion, Americans are one step closer to seeing how the Biden administration’s competition vision plays out.

Tim Wu, who previously served in the White House as a key architect of the Biden administration’s competition agenda, said in an interview that many of the seeds planted early in the administration, if not yet bearing fruit, are at least “sprouting.”

Wu said that in the early days of his time at the White House, the administration came up with what was called the “grand unified theory of antitrust revival.” It included appointing strong enforcers and starting the White House Competition Council.

Biden laid out his competition goals in an executive order issued in 2021, which urged the FCC to restore net neutrality rules and for the FTC to “challenge prior bad mergers,” among other things.

Since the time of the executive order, Hannah Garden-Monheit, director of Competition Council policy at the White House, said those principles have “built up a lot of momentum” and have “become embedded and institutionalized in the work of the government.”

Even as several prongs of competition policy take shape, the Biden administration is up against the clock. As the 2024 presidential election approaches, the administration faces the possibility of losing its chance to follow through on some of the actions it has spearheaded.

That timeline may be particularly concerning for the ability to implement and uphold net neutrality rules, given that the FCC didn’t have a Democratic majority able to advance the rulemaking until just this week. Wu and other net neutrality advocates have blamed the telecom industry for opposing Biden’s initial FCC nominee, Gigi Sohn, holding up her nomination for well over a year until she ultimately withdrew. (CNBC parent company NBCUniversal is owned by internet service provider Comcast.)

Gigi Sohn testifies during a Senate Commerce, Science, and Transportation Committee confirmation hearing examining her nomination to be appointed Commissioner of the Federal Communications Commission on February 9, 2022 in Washington, DC.

Peter Marovich | Getty Images

Biden’s unwillingness to pivot to another candidate earlier also meant the FCC remained deadlocked for the first half of his term as president.

Still, Wu said that backing down from a qualified candidate is “not Biden’s style.”

No matter when the administration changes hands, Wu said he’s confident that net neutrality can prevail. He called the repeal of the rules under Trump’s FCC an “outlier” and believes Republicans have nothing to gain at this point in pushing for repeal.

“I think about Republicans — they don’t like Google, Facebook doing censorship — and they really don’t like their cable company doing it either,” Wu said. “There’s no constituency right now for the repeal of net neutrality.”

At the FTC, Chair Lina Khan finally moved ahead in filing the agency’s antitrust suit against Amazon, accusing it of illegally maintaining a monopoly by punishing sellers that offer lower prices elsewhere and “effectively” requiring them to use Amazon’s fulfillment services. Amazon’s general counsel has called the suit “wrong on the facts and the law.”

Federal Trade Commission Chair Lina Khan testifies before a House Judiciary Committee hearing on Oversight of the Federal Trade Commission, on Capitol Hill in Washington, D.C., July 13, 2023.

Kevin Wurm | Reuters

“This complaint focused on behaviors that courts have in the past found clearly to be violations of the antitrust laws,” Bill Baer, who has served as the top antitrust official at both the FTC and DOJ in different Democratic administrations, said. “She didn’t need to include theories where the courts either haven’t reached or about which they’ve been more skeptical in the past.”

Wu said the more narrow approach didn’t surprise him, in part because Khan is “more restrained than people think she is.”

“Frankly, it’s not exotic at all,” Wu said of the Amazon complaint. “It’s plain vanilla, Main Street, what we would call a consumer welfare case.”

While Khan and Jonathan Kanter, her counterpart at the DOJ, have said they aim to bring cases that they can win, they have indicated they’re also willing to bring riskier complaints to push the boundaries of the law.

“They’re adopting more of a baseball approach than a perfectionist approach,” Wu said. “And if you have someone who’s batting .500, .700, that’s a pretty good hitter, especially if they’re swinging for home runs.”

“It is a critical moment in the courts deciding how the antitrust laws apply to Big Tech,” Baer said. “The results of these pending and future cases will tell us a lot about what the rules of the road are going forward.”

Advocates of reforming antitrust laws have said that it’s important for Congress to clarify the law, but antitrust reform has stalled in Congress after a major push last year fizzled out.

Wu said a key “uncompleted part” of the grand master plan in the White House was appointing more antitrust enforcement-minded judges.

In 10 years, Garden-Monheit said she thinks Americans will look back at this moment “as a real inflection point” where the president opted to turn the page on “40 years of laissez-faire, trickle-down economics, lax enforcement of antitrust laws.”

“I hope that’s the direction that we’ll continue to see for decades going forward, just like we’ve turned the page on decades of past failed approach,” Garden-Monheit said.

“Win or lose, we don’t know what will happen in any of these cases,” Wu said. “But I think we’ll look back at this and say that non-enforcement was just a blip.”

WATCH: FTC files lawsuit against Amazon. Here’s how to play the stock

Stocks making the biggest moves midday: Tesla, Nike, Carnival, Nvidia and more


Tesla CEO Elon Musk arrives for a U.S. Senate bipartisan Artificial Intelligence Insight Forum at the U.S. Capitol in Washington, D.C., on Sept. 13, 2023.

Andrew Caballero-Reynolds | AFP | Getty Images

Check out the companies making headlines in midday trading.

Tesla — Stock in the electric vehicle company added 1.5% in midday trading Friday. Canaccord Genuity reiterated its buy rating for the EV stock Thursday, ahead of vehicle delivery data. Barclays forecast a missed delivery target last week. Last week, Barclays forecast a delivery target miss.

Anheuser-Busch InBev — U.S.-listed shares of the beer stock climbed 3.2% following an upgrade to buy from neutral, with the firm highlighting an inflection point for margins and a more innovative portfolio strategy.

Carnival — Shares of the cruise operator slid 4.9% in midday trading. Carnival predicted a loss between 10 cents and 18 cents for the fiscal fourth-quarter, while analysts polled at LSEG (formerly Refinitiv) expected a 10 cents loss per share. Separately Carnival reported adjusted earnings of 86c per share with revenue of $6.85billion for the fiscal third-quarter, beating estimates of 75c per share and $6.69billion in revenue. The shares of Norwegian Cruise Line, , also fell 3%. That’s about a 137% premium to Blue Apron’s closing price of $5.49 per share on Thursday.Nvidia

— Shares of the chipmaker ticked up 1%. Citi said in a note on Friday that the Blackwell B100 GPU, the next iteration from the company, would be a major stock catalyst heading into 2024 and drive sales and margins. The firm reiterated a buy rating on Nvidia stock.Nike

— Shares of the sneaker giant jumped 6.6% after a mixed fiscal first-quarter report. The company reported earnings late Thursday of 94 cents a share and revenue of $12.94 billion, while analysts polled at LSEG expected 75 cents a share and revenue $12.98 million. Nike also reiterated midsingle-digit full-year revenue growth guidance.Walgreens

— Shares of the pharmacy giant jumped more than 6%. Bloomberg, citing sources familiar with the situation, reported that Walgreens was considering Tim Wentworth as its new CEO. Wentworth is a former Cigna executive. Roz Brewer stepped down from her post as Walgreens CEO as of the end of August.Bumble

— The online dating platform added 3% after Loop Capital Markets upgraded the stock to buy from hold. The firm said the stock is “de-risked” while Bumble’s strong cash balance and free cash flow generation will help protect its balance sheet.Brinker International

— The Chili’s parent advanced nearly 2% following a Stifel upgrade to buy from hold. The firm said Brinker’s strategic playbook appears similar to those of other chains that have experienced successful turnarounds.Corcept Therapeutics

— Shares slumped 17% in midday trading as the firm contends with ongoing litigation against Teva Pharmaceuticals. The conflict centers on Corcept’s Cushing syndrome drug Korlym, and Teva has sought to cancel Corcept’s patent over the treatment.Texas Roadhouse

— Stock in the restaurant chain gained roughly 1% on the heels of an upgrade to buy from Northcoast Research, with the firm highlighting a steady flow of customer traffic to stores.— CNBC’s Pia Singh, Alex Harring, Michelle Fox, Hakyung Kim and Darla Mercado contributed reporting.

Watch live: Trump speaks at California GOP convention


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Former President Trump is slated to deliver remarks Friday afternoon at the California state Republican Party Convention in Anaheim.

Trump will make his pitch to California Republicans in a bid to solidify his support in the GOP presidential primary contest that he has dominated for months.

State party conventions are often crowded with conservative grassroots activists. This is an ideal environment for the former President, despite his felony charges.

United Airlines pilots approve new contract with up to 40% raises


JanValls The deal, which is valued at $10 billion according to the Air Line Pilots Association (the pilots’ union), was approved by 82% of United pilots who voted on it. ALPA announced on Friday that more than 97% United pilots voted in favor of the new contract. Since the Covid pandemic, pilots and other unions have been pressing for better pay and work rules. UAW President Shawn Fain announced that the United Auto Workers union plans to expand strikes against General Motors, Ford Motor and two U.S. Assembly plants on Friday.

House begins voting on long-shot spending plan as federal government shutdown fears grow


WASHINGTON — House GOP leaders on Friday began voting on a partisan, short-term spending bill that has no chance of passing in the Senate, with fewer than two days left to fund the federal government and avoid a shutdown.

Speaker Kevin McCarthy pitched the bill as a way for his fellow Republicans to buy time to pass a slate of individual agency spending bills.

“We actually need a stop-gap measure to allow the House to continue to finish its work, to make sure our military gets paid, to make sure our border agents get paid as we finish the job that we’re supposed to do,” McCarthy told reporters.

The White House blasted the House GOP caucus for engaging in brinksmanship.

“Extreme House Republicans are solely to blame for marching us toward a shutdown,” said White House Press Secretary Karin Jean-Pierre. “That is what we’re seeing right now. It is a basic fact.”

The GOP bill ostensibly would fund the government through Oct. 31.

But it has effectively no chance of passing the Senate, which is controlled by Democrats, or of being signed by President Joe Biden.

In addition to the opposition it faces from Democrats, the bill is also on thin ice with a key bloc of conservative House Republicans whose votes McCarthy needs to pass it with his narrow majority.

As debate on the bill got underway Friday, more than a half-dozen House Republicans indicated that they would vote “No,” on the stopgap plan.

They include several of McCarthy’s most outspoken antagonists, like Florida Rep. Matt Gaetz and Arizona Reps. Andy Biggs and Eli Crane.

Ahead of the final vote, Democrats used their allotted debate time to hammer McCarthy and his caucus.

“Everyone in this room knows that keeping the government operating and passing bills to fully fund the next fiscal year will require bipartisan cooperation,” said Rep. Rosa DeLauro, the top Democrat on the powerful Appropriations Committee. The Connecticut lawmaker called Friday’s votes, “a pointless charade with grave consequences for the American people.”

The Senate easily advanced its own short-term funding bill Thursday by a 76-22 margin. The next vote in that chamber is scheduled for Saturday.

The Senate bill is likely to be amended ahead of Saturday’s vote, and the next version could contain stronger border security measures that House Republicans are demanding.

Missing the Senate vote will be Sen. Dianne Feinstein, the California Democrat who died late Thursday at her home in Washington, D.C.

The government is scheduled to shut down at 12:01 a.m. ET Sunday if a funding bill is not approved by Congress and signed into law by Biden.

Across Washington on Friday, government agencies prepared their employees and the public for the effects of a shutdown.

The Smithsonian Institution said it would use existing funds from last year to keep its museums and the National Zoo open for at least the next week.

This is breaking news. Please check back for updates.

From California to Capitol Hill, tributes to Dianne Feinstein flood in after her death


Senator Dianne Feinstein died at 90 years old. She was a Democrat originally elected to the California Senate in 1992.

Saul Loeb/AFP via Getty Images

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Saul Loeb/AFP via Getty Images

Senator Dianne Feinstein died on Thursday, aged 90. She was a Democrat originally elected to the Senate in California in 1992.

Saul Loeb/AFP by Getty Images

While lawmakers were working to prevent a government shutdown that was rapidly approaching, many members of Congress took a moment Friday to mourn. Both sides of the political spectrum expressed their sorrow at the passing of Democratic Senator Dianne Feinstein.

The Senate and House paused their proceedings as the leaders paid tribute to Feinstein. Her death was announced on Friday morning. She was 90. As a vase of roses sat on Feinstein’s chair, Senate Majority leader Chuck Schumer listed Feinstein’s legislative achievements: the 1994 Assault Weapons Ban; reauthorizing of the Violence Against Women Act; and her advocacy for marriage equality and climate injustice. Schumer stated that when asked how she votes on something, Feinstein replied, “I’ll study the issue before I take a stand.” “And she returned — if she believed the cause of this vote was right and crucial to many issues that she cared about – she not only voted in favor, but there was nothing stopping her from getting it done.”

Schumer led a moment’s silence in the Senate for Sen. Dianne (D-CA), the late senator who died last night. Her Senate desk has a black cloth draped over it with a white bowl of flowers. RIP. Craig Caplan (@CraigCaplan).

In House, House Rules Committee chair Tom Cole, R-Okla. interrupted a meeting to announce her death. “I know that many of us have had the chance to work with her and I’m sure we all, from both sides, respected her,” said Tom Cole as he called for silence. House Speaker Kevin McCarthy (a Republican from California) recalled working on water legislation with Feinstein during the record-breaking California drought of mid-2010s. “I remember all the long hours and nights we spent trying to overcome the obstacles. He told reporters in the Capitol that despite coming from different political parties and having different ideologies, “we put our state before everything else.”

Feinstein was a senator for over 30 years. She was the first woman ever to sit on the Senate Judiciary Committee and she served as the longest serving woman senator in the history of the Senate.

President Biden who served with Feinstein for more than[she would say]15years in the Senate, paid tribute at an event held at Joint Base Myer Henderson Hall in Arlington, Va. Dianne’s impact on national security, gun safety, civil liberties, and the environment was immense. “The country, Jill, and I will miss her deeply,” he said.

The Dallas Cowboys bandwagon: Easy to jump on, easy to leap off


The best advice for watching and analyzing the Dallas Cowboys is to prepare yourself for anything and be surprised by nothing.

And yet, much as we know about the laws of unpredictability, and despite years of Dallas being Dallas and rarely sticking to the expected script, the Cowboys still find ways to leave their fans and followers open-mouthed with disbelief.

This is partly because they are the most supported team in the country, but everything gets magnified when it comes to the silver-and-blue. Nothing has shown that better than this past week when it took only one afternoon for the Cowboys’ immediate reputation to go from potential champs-in-waiting to chumps-in-Arizona.

After two resounding victories to begin the campaign, the talk was bullish and buoyant, with triumphs over the New York Giants and Jets resulting in a combined score of 70-10. All that optimism was made to feel foolish last Sunday, however, when the Cardinals, widely expected to be the worst team in the league this season, laid down a stunning 28-16 beating.

Heading into this Sunday’s clash with the New England Patriots (4:25 p.m. The Cowboys will have to combat the narrative that the Cowboys’ Weeks 1 and 2, which were a series of brutal beatings against weak opposition, are not worth taking seriously. It’s a line of talk quarterback Dak Prescott knows is there, but one that annoys him and his colleagues significantly.

“Pissed off,” Prescott told reporters on Thursday. You heard it in our locker room. It just allows you to focus a little bit more, honestly.

“Nobody wants to lose, but we understand how tough it is in this league. You come back to the game after a defeat and reset, you feel a bit humbled. “

It wasn’t just the result last week that was embarrassing. Skip Bayless’ Cowboys Super Bowl prediction has changed. Overall, the Cardinals were more aggressive, tougher, more composed, and just looked way hungrier.

Has Skip Bayless’ Cowboys Super Bowl prediction changed?

Has Skip Bayless' Cowboys Super Bowl prediction changed?

In relation to the Cowboys, it made non-believers out of believers and at the very least put a serious jolt of nervousness into the veins of the most devout supporters of the team.

The Dallas Cowboys — 2023’s easiest bandwagon to jump on, and now the easiest one to jump off.

“Arizona played physical football and Dallas wasn’t prepared for that kind of football,” former Cowboys star receiver Michael Irvin said, on FS1’s “Undisputed.” “That’s what we’ve been wondering and questioning.

“It showed back up in a mean way. (The Cowboys) were out-physicalled. You won’t ever beat Philadelphia like that. You won’t ever beat the San Francisco 49ers like that. (Those teams) are sitting back and saying ‘that’s the same old Dallas Cowboys, and we will take care of them the first week of the playoffs.'”

No team operates under a more intense microscope than the Cowboys, and that goes for any NFL season. Poor performances don’t slip through the radar here. Because it’s the Cowboys, everything gets noticed and scrutinized.

Is Micah Parsons showing signs of being the new Lawrence Taylor?

Is Micah Parsons showing signs of being the new Lawrence Taylor?

But the reality is that Dallas has used up any leeway it had and then some. It has been 28 years since the team reached a Super Bowl, and memories of the flameout against the 49ers in the divisional round last season are fresh. As things stand, the Cowboys need to do some convincing that they’re not a team that can fall apart at any moment.

At least this weekend there are some other narratives to somewhat shift the attention.

Patriots running back Ezekiel Elliott will return to his old footballing home, and Cowboys owner Jerry Jones hinted there may be a surprise in store for him, presumably some kind of tribute played across that monumentally big screen.

New England head coach Bill Belichick added a little spice when he gave praise to Cowboys defensive standout Micah Parsons, but was categorical in his assertion that Persons should not be mentioned in the same breath as all-timer Lawrence Taylor.

Can Christian Gonzalez, Patriots contain CeeDee Lamb, Cowboys?

Can Christian Gonzalez, Patriots contain CeeDee Lamb, Cowboys?

An interesting little quirk arose when former Cowboys QB Will Grier was signed by the Patriots as a backup for Mac Jones, forcing Dallas to change its signals for the game over fears Grier would pass on secrets. 

But in the context of the season, that’s all short-term paraphernalia.

Sunday’s big statement will be in seeing whether the Cowboys respond to being really bad and really disappointing with more of the same, or if they can brush it off as a blip.

The bandwagon is still there, and the carriage door is open. When it comes to the Cowboys, people are always ready to jump aboard. Can Dallas give them a reason to do so?

Martin Rogers is a columnist for FOX Sports and the author of the FOX Sports Insider newsletter. Follow him on Twitter @MRogersFOX and subscribe to the daily newsletter.

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Dianne Feinstein, California’s longest-serving senator, dies at 90


U.S. Sen. Dianne Feinstein of California has died at age 90, her office confirmed Friday.

Feinstein, a Democrat, was the oldest member of the Senate, where she served since 1992. She held her seat in the chamber longer than any other woman, and any senator from California.

She passed away Thursday night at her home in Washington, D.C.

“There are few women who can be called senator, chairman, mayor, wife, mom and grandmother. Senator Feinstein was a force of nature who made an incredible impact on our country and her home state,” her chief of staff James Sauls said in a statement.

Feinstein’s death ends a boundary-pushing political career that spanned more than half a century, which was studded with major legislative achievements on issues including gun control and the environment.

In Feinstein’s final years, she had increasingly visible health and memory issues, and a conflict with her fellow Democrats over her refusal to step down.

She had planned to retire at the end of her current term in 2024.

Feinstein’s death leaves vacant her powerful Senate seat, requiring Gov. Gavin Newsom to appoint a temporary successor.

Sen. Dianne Feinstein (D-CA) in the Senate subway on Capitol Hill on Wednesday, May 11, 2022 in Washington, DC.

Kent Nishimura | Los Angeles Times | Getty Images

Newsom in a statement called Feinstein “a political giant, whose tenacity was matched by her grace.”

“She broke down barriers and glass ceilings, but never lost her belief in the spirit of political cooperation,” he said. “There is simply nobody who possessed the poise, gravitas, and fierceness of Dianne Feinstein.”

“Jennifer and I are deeply saddened by her passing, and we will mourn with her family in this difficult time.”

Senate Majority Leader Chuck Schumer, D-N.Y., said on the chamber floor, “We lost a giant in the Senate.”

“Today, there are 25 women serving in this chamber, and every one of them will admit, they stand on Dianne’s shoulders,” he said.

Rep. Nancy Pelosi of California, the former speaker of the House, grew emotional as she told reporters, “It’s a very sad day for all of us.”

“May she rest in peace,” Pelosi said.

President Joe Biden, who served with Feinstein for decades in the Senate, said in a statement, “She had an immense impact on younger female leaders for whom she generously opened doors.”

“Dianne was tough, sharp, always prepared, and never pulled a punch, but she was also a kind and loyal friend, and that’s what Jill and I will miss the most,” Biden said.

A San Francisco native, Feinstein cleared a path for women in politics as she rose the ranks of leadership. After two failed bids for mayor, she was elected president of San Francisco’s board of supervisors in 1978, becoming the first woman to hold the title.

Feinstein was made acting mayor of the city later that year, after then-Mayor George Moscone and Harvey Milk, her colleague on the board of supervisors, were assassinated by Dan White, a former member of the same board.

In later interviews, Feinstein recalled finding Milk’s body and searching for a pulse by putting her finger in a bullet hole.

Feinstein was the first to announce the murders to the press. She was appointed mayor a week later, again becoming the first woman elevated to the office.

The tragedy had the side effect of jumpstarting Feinstein’s political career, but the trauma of the day stuck with her even decades later. 

“I never really talk about this,” Feinstein said with a sigh when asked about the murders in a CNN interview in 2017.

Candidate Dianne Feinstein celebrates theprimary win June 2, 1992.

John O’Hara | San Francisco Chronicle | Getty Images

Her streak of firsts continued at the national level. Feinstein lost a gubernatorial bid in 1990, but two years later won a special election to the U.S. Senate, becoming California’s first female senator.

Weeks later, the state’s second female senator, Barbara Boxer, was sworn into office, making California the first state in the U.S. to be represented in the Senate by two women. 

Their 1992 elections helped define the “Year of the Woman,” in which four Democratic women were newly elected to the Senate — more than doubling the chamber’s female representation.

In the Senate, Feinstein clinched some of her biggest legislative achievements. She wrote and championed the 1994 assault weapons ban, both a landmark bill and a continuation of a career-long effort to enact stricter gun controls. 

The legislation passed Congress and was signed by then-President Bill Clinton, albeit with major compromises including a 10-year sunset provision. The ban expired in 2004 during the administration of George W. Bush.

American politician Dianne Feinstein, her arms outstretched in celebration, in her office after she was elected mayor of San Francisco, at San Francisco City Hall in San Francisco, California, circa 1978. 

Nick Allen | Archive Photos | Getty Images

She also sponsored bills that protect millions of acres of California’s desert, worked to create a nationwide AMBER alert network, helped reauthorize the Violence Against Women Act and fought for the release of a lengthy report detailing the CIA’s torture practices, among other accomplishments.

Over her three decades in the Senate, Feinstein has generally been seen as a political moderate in her party. In the 1990s and 2000s, that reputation made Feinstein highly popular — but much of that popularity eroded in the proceeding years as California’s political tint shifted toward deeper shades of blue.

As her centrism grew increasingly out of fashion, Feinstein’s standing in her final stretch in office was further diminished by a crescendo of skepticism about her mental fitness for the Senate.

A damning report from the San Francisco Chronicle in April 2022 featured unnamed Democratic colleagues of Feinstein fretting over her apparent decline in mental acuity. Feinstein defended her ability to govern, while acknowledging that she had been going through an “extremely painful and distracting” period as her late husband, financier Richard Blum, had battled cancer.

By the time Feinstein announced that she would not seek reelection at the end of her term in 2024, multiple Democratic politicians had already launched campaigns to succeed her.

Crafting Success: High-Demand Artisan Products to Sell Online


Finding profitable products in high demand is a challenge for many business owners. Research is necessary to determine what products sell and which ones don’t. We’re here to help aspiring business owners and entrepreneurs. We will also give you some helpful ecommerce advice to help boost your sales. So, let’s dive right in!

What Are Artisan Products?

Artisan products are handmade goods that are crafted with skill and care. They are usually made with natural materials, such as stone, wood, and metal, and are often unique and


Artisan goods are typically made in small batches and feature unique designs and materials. They can be anything from clothing and jewelry to furniture and home décor. They are often seen as luxury items, as they are made with high-quality

materials and craftsmanship.Examples of artisan furniture by 8 Degrees SouthFrequently Asked Questions About Artisan Goods

Before we jump to the list of artisan products, let’s go through a few commonly asked questions to help you better understand these goods.

What Is the Difference Between Artisan Goods and


Products?The main difference between artisan products and mass-produced

products is the level of craftsmanship. Artisan goods are typically made by skilled artisans who put time and care into each piece, whereas mass-produced products are made in large quantities by machines.What Materials Are Used to Make Artisan Products?Artisan products can be made from various materials, including wood, stone, metal, glass, clay, fabric, and more. Artisan jewelry is often made from metal or stone, while artisan furniture is usually made of wood. For example, artisan jewelry is often made from metal or stone, while artisan furniture is typically made from wood.



glass figurine by Sea Spirits Gallery & GiftsWhat Are Some Common Types of Artisan Products?Common types of artisan products include jewelry, clothing, furniture, home decor, beauty products, food production, and wine.

Why Are Artisan Products in High Demand?

Artisan products offer something unique and special that cannot be found in


items. Consumers are increasingly looking for unique, handmade goods with a story behind them.Where Can I Find High-Demand

Artisan Products?High-demand artisan products can be found in various places, including online marketplaces, craft fairs, and local stores. You can also find

high-demand artisan products by searching for specific items on social media platforms such as Instagram, TikTok, and Pinterest.What Artisan Products You Can Sell OnlineNow that you understand artisan products better let’s dive into the top


items that can be successful online.Artisan Body ProductsArtisan body products have become wildly popular because people are becoming more aware of the chemicals used in industrial skincare products. Some consumers now prefer to switch to natural beauty products.

Artisan face wash by Kissed by a Bee Organics

From artisan soap and shampoo to even nail polish, there are plenty of options to sell online. There is a large market for artisan skincare products, with a high margin of profit. It’s a sustainable business model that can sell in high volumes.

Artisan Beauty Products & Jewelry

Jewelry has been a popular commodity for centuries, and artisan jewelry pieces only add to the allure. Artists create pieces that are unique and make them stand out. The market for artisan jewelry is large, and you can also go custom. The market for artisan jewelry is sizeable, and there’s also the option to go custom.

Artisan steel jewelry by Cecilia’s Steel

Artisan Food Production

The Cecilia's Steel Jewelry

People always seek ways to spice up their cooking and try new recipes. Artisan food is another


industry that entrepreneurs can seek to enter.Starchy foods, such as artisanal bread and flatbread, rolls, donuts, pizza, crackers, or even noodles, are excellent choices. These foods are delicious, and specialty options appeal to various dietary needs (e.g., gluten-

or dairy-free).Artisan baked goods from The Pickled FigArtisanal food items can also be packaged and sold as gifts. In recent years, the demand for unique gifts has increased. For example, you can sell sweets such as artisan chocolate, marshmallows, or ice cream with unique flavors.

As for drinks, artisan coffee, tea blends, craft beer, and even artisan berry juice might be a worthy option to explore.

Artisan Wine & Cheese

The market for artisan wine has grown significantly over recent years. It’s no surprise that wine lovers are always looking for new wineries and blends to try. You can create your own blend of grapes, or work with a local winery to produce a limited edition product. What pairs with wine? With its many flavors and textures, artisan cheese is sure to be a hit among foodies. With various flavors and textures, artisan cheese will surely be a hit amongst foodies.

An artisan cheese box by Fig & Honey

Artisan Home Products

Artisan furniture pieces are usually made with


materials and unique designs that add character to any room. They are perfect for those who want to decorate their homes with

one-of-a-kind, timeless pieces.Artisan home products that are beautifully crafted showcase individuality and can be the much-needed touch that a home needs. You can sell artisan products such as flooring, furniture, and tiles that are beautifully crafted. These items can be customized, which offers another dynamic to the selling process.

Customizable artisan candles from M.A.D CandleArtisan glassware products have a unique appeal to them, and demand for such commodities has only risen recently. Handcrafted artisan glasses add a touch elegance to any table setting. They can also be purchased in bundles. Artisan glass candle holders, lamps, and vases are a great way to add a touch of sophistication to a room.Artisan rugs, pillows, and throws are also


artisan home products that can be found online.

Artisan stone products are another option that can be a hit with those looking to decorate their homes. From unique coasters to hand-carved stone sculptures, there’s a high demand for these products.

Some of the artisan home decor products can be unconventional, for example, artisan dice, playing cards, knives, or pens. It’s true that these products can be used as home décor. But how do you actually start?Create an Online Store for Artisan ProductsSelling artisan products online requires a few steps. You will need to first create an online shop or website that showcases your products. Create product descriptions and images that will help your customers to understand what you’re selling. Additionally, you will need to set up payment processing and shipping options.

Ecwid by Lightspeed is an ecommerce platform that is perfect for selling any product online. With an


interface and various features, Ecwid makes it simple to showcase and sell your artisan products to a global market.

Buttonworks Australia sells its handcrafted products with Ecwid by Lightspeed

Plus, integrated social media selling allows you to reach even more potential customers through platforms like Facebook and Instagram.

By the way, all the examples you see in this article are online stores made with Ecwid by Lightspeed! You can see more examples of Ecwid stores on our Showcase page. How to Build an Ecommerce Website: The Easiest Way That Requires No ExperienceRead more

Tips for Selling Artisan Goods

Selling artisan products online requires a different approach than selling


: Customers are more likely to purchase artisan products when they know the story behind them. Share your passion for your craft and communicate the uniqueness of your product.

Use high-quality visuals

  • : Artisan products often have intricate designs and details that must be showcased in photos or videos. Invest in professional photography and product video to accurately capture your offering.Collaborate with other artisans
  • : Consider collaborating with other artisans to create unique gift sets or cross-promote each other’s products. This can expand your reach and introduce you to new customers.Highlight the differences
  • between your artisan products and mass-produced items: This helps customers understand the true value of your product.Consider expanding to craft marketplaces
  • in addition to selling on your site: Etsy, Facebook Marketplaces, and other places for selling art and crafts online can be great ways to gain additional exposure and customers.Offer customization options: Many consumers are looking for personalized items, so consider offering customization options for your artisan products.Custom name wood sign by Camilla Creations
  • Start Selling Artisan GoodsSelling artisan products can be an awesome way to make a living, but it’s crucial to understand the ins and outs of the market. It’s crucial to understand what your customers want, as there are so many artisan products available. Checking out the competition and keeping up with industry trends can help you build a successful business selling artisan products.
  • Adding artisan products to your inventory can help keep those profits rolling in. Ecwid, by Lightspeed, is a great ecommerce platform for selling artisanal products. It’s super user-friendly,

affordable, and simple to navigate. You can also create an online store free of charge.

Redefining Singapore’s Urban Landscape, Once Again


In a changing landscape, more mixed-use developments have emerged, including residential, office and retail offerings with easy access to transport networks. Amid this shifting landscape, more mixed-use developments–comprising residential, office and retail offerings with easy access to transport networks–have emerged to satisfy a desire by tenants and residents to have everything that they need at their doorsteps.

Photo: Guoco Tower


A City Of The Future

Following the success of Guoco Tower, the spotlight has now shifted to GuocoLand’s newest venture–Guoco Midtown. Guoco Midtown, located in Singapore’s Downtown Core Business Sector, mirrors the blueprint of Guoco Tower. The 3.2-hectare mixed-use integrated development will include 770,000 square foot of premium Grade A office space in its 30-story tower, as well as three retail clusters and more than 400,000 sq ft of landscape and public areas. It will also feature two luxury condominiums. The preserved historic Beach Road Police Station will also form part of this new urban community.

Artist’s impression: Guoco Midtown


GuocoLand envisions this project as a “City of the Future,” featuring a harmonious balance between urban vibrancy and nature. Guoco Midtown

will include 30 landscaped gardens in the heart the city. Upon completion in 2024, this new “Midtown” neighborhood in the Beach Road-Bugis area expects to welcome over 10,000 corporate executives, residents, retailers and tourists every day.

A distinctive element of Guoco Midtown is its emphasis on “Placemaking,” a multi-faceted approach to the planning, design and management of public spaces. This concept seeks to leverage a local community’s assets, inspiration and potential to create public spaces that improve urban vitality and promote its people’s health, happiness and well-being. With over 400,000 sq ft of landscaped and public spaces, the development will facilitate social interactions and host large-scale events such as concerts, pop-up markets and mass fitness activities. Furthermore, Guoco Midtown’s luxury residences offer a novel take on urban living, replete with flexible spaces and a comprehensive suite of public and private facilities.

Future-Proof Workspace and Livingspace

Recognizing that adaptability is key in today’s volatile business landscape, Guoco Midtown will introduce an innovative concept know as Network Hub. The facility offers spaces that are flexible enough to seamlessly switch from seminars to networking events. It includes meeting rooms, town halls, training facilities, and cafe lounges. The future is hybrid. The demand for flexible workspaces will only grow as workplace dynamics evolve,” says Valerie Wong, GuocoLand’s Managing Director of Asset Management.

Artist’s impression: Network Hub and retail plaza at Guoco Midtown


Already, Guoco Midtown has piqued the interest of numerous international corporations. The development is a melting pot for diverse businesses. With 80% pre-commitments or negotiations, it promises to be an exciting and vibrant mix of finance, technology, chemicals, and consumer brands. It’s not just about renting a space; it’s about being part of a vibrant business community, leading to unforeseen collaborations.”

Collectively, Guoco Midtown’s various innovative features represents the developer’s exciting vision of the future of living. Guoco Midtown, with its visionary approach and comprehensive expertise, is poised to elevate Singapore’s urban fabric once more. The developer is creating new transformative spaces that are not only redefining Singapore’s future but also the skyline.

Bitcoin has limited upside in the fourth quarter as the possibility of higher rates casts a shadow over crypto


Ad spending for obesity, diabetes drugs is soaring this year, as drugmakers shell out nearly $500 million


A view of a plastic model of a stomach during an interview with Doctor Thomas Horbach, specialist in surgery, visceral surgery and nutritional medicine on Novo Nordisk, which will start selling its hugely popular obesity drug Wegovy in Germany later this month, in Munich, Germany, July 17, 2023.

Christine Uyanik | Reuters

Drugmakers spent nearly $500 million on advertisements for obesity and diabetes treatments in the U.S. during the first seven months of this year, up 20% from the same period a year ago, according to new data released Friday. The data from MediaRadar shows the companies’ rush to attract new customers following months of hype surrounding

Novo Nordic Ozempic, a diabetes drug, and Wegovy, a weight loss product. These drugs and other similar treatments are in high demand because they help patients shed unwanted pounds. U.S. The GLP-1s mimic a hormone that is produced in the stomach to suppress an individual’s appetite. health care providers wrote more than 9 million prescriptions for Ozempic, Wegovy and other obesity and diabetes drugs during the last three months of 2022, up 300% from early 2020.

MediaRadar compiled ad spending from national TV broadcasts, print publications, newspapers and websites and social media platforms from Jan. 1, 2022 to July 31, 2023. The top four drugs advertised in the media were Ozempic and Wegovy. Novo Nordisk’s diabetes drug Rybelsus, as well as Boehringer-Ingelheim’s own diabetes treatment Jardiance. According to data, these four treatments together accounted for about $358 million or three quarters of the total advertising spending on obesity and diabetes medications during the first seven month of this year.

Spending on Ozempic ads was $120 million during that time period, up 23% from the same period last year.

MediaRadar said in a statement that Ozempic’s rise in popularity has had a “positive impact on similar medications.” MediaRadar CEO Todd Krizelman stated in a statement that “a rising tide raises all boats.” As Ozempic grows in popularity, so too does the demand for weight loss and diabetes medications, including Wegovy. This drug has been making a big impact this year, especially from Q2 forward. MediaRadar reports that Wegovy spent more than $20m in the first seven month of the year. This is mainly due to an increase in spending between April and July. MediaRadar reported that Novo Nordisk halted key promotional advertising in May, namely local and national television advertising. MediaRadar reported that the majority of the money spent on advertising the drug went to digital media, including online video.

Trump: RNC should be fighting 'election interference & Pennsylvania … scam' instead of hosting debates


Former President Trump said Thursday that the Republican National Committee should stop holding debates in order to focus on fighting “Election Interference and the Pennsylvania Voter Registration Scam.”

“I’m ahead 56 points, so it would appear that the debates are a waste of time,” Trump said in a Truth Social post. Trump skipped the two previous GOP debates, and plans to skip the third.

“I’m up 10 points on Crooked Joe!” What is the RNC up to? He added without giving any details that they should be fighting against Election Interference and the Pennsylvania Voter Registration Scam. The debates should be ended, bad for the Republican Party!

“Doug Burgum was very smart and solid in his job. Trump wrote in a post that “Sloppy Chris Christie was an absolute DISASTER and a TRUMP-DERANGED LUNATIC!” Nikki Haley’s DISLOYALTY & LYING about me and the Republican Party was exposed. Hasn’t got what it takes! Never did!” “Very flat. Needs me badly!” It’s sad, but he will get better. Too much J-6. Tim Scott has stepped up. Wonderful guy. We are looking forward to his endorsement! Vivek told me I was an excellent President. Thank you. Thank you. Ron DeSanctimonious has had a bad evening. He can sense the end nearing. Dropping like a rock!”

Trump’s post comes after one of his top advisers, Chris LaCivita, called for an end to the GOP debates. LaCivita is a Republican strategist who said that Wednesday’s debate had been “as dull and inconsequential” as the first one.

Apps show where travelers exercise most — and least — on vacation


Ever pack workout clothes for a vacation — only to unpack them, unworn, upon returning home?

Perhaps the destination matters.

Data from exercise apps, which track users’ physical locations and search history, show travelers tend to be more active in some locations more than others.

Fitness app Strava shows travelers tend to exercise when they visit smaller cities in Europe. The app, which has 100 million users in 195 countries, shows travelers are more active than locals, in:

  • Split, Croatia
  • Dodecanese Islands, Greece
  • Lagos, Portugal
  • Las Palmas, Spain
  • Nord-Aurdal, Norway

All are warm, coastal cities in southern Europe, with the exception of Nord-Aurdal, which is part of Norway’s Valdres region — a major draw for outdoor enthusiasts who enjoy hiking, cycling, fishing and skiing. The small municipality of some 6,400 people is about 110 kilometers (68 miles) west of Lillehammer, which hosted the 1994 Winter Olympics.

Conversely, the company’s data shows travelers are less active, compared to locals, in parts of the Caribbean and Central America, namely:

  • Trinidad and Tobago
  • Dominican Republic
  • Philippines
  • Venezuela
  • Costa Rica

Those who struggle to exercise on vacation can take heart in knowing that even active travelers tend to ease up from their usual routines on holiday. Nearly four in 10 runners cut their running times by at least 30% during their summer vacations in 2022, according to Strava’s data.

Fitness classes booked abroad

Data from the fitness membership app ClassPass shows where Americans are signing up for fitness classes when they travel abroad.

From January to September 2023, American travelers booked classes the most — not in major tourist draws like Paris and London — but in:

  1. Lisbon, Portugal
  2. Montreal, Canada
  3. Copenhagen, Denmark
  4. Stockholm, Sweden
  5. Madrid, Spain
  6. Barcelona, Spain
  7. Dublin, Ireland
  8. Toronto, Canada
  9. Vancouver, Canada
  10. Berlin, Germany

The app does not operate in Italy, a representative of ClassPass said.

A group of women participating in an outdoor jump fit boots class in Barcelona, Spain.

Tempura | E+ | Getty Images

As for the type of exercise that travelers book, ClassPass said the most popular classes are:

  1. Pilates
  2. Yoga
  3. Strength training
  4. Cycling
  5. Barre

The top U.S. city for outdoor activities

A woman practices yoga in Sedona, Arizona.

Jenniferphotographyimaging | E+ | Getty Images

With a population of around 10,000 people, Sedona is a popular travel destination for physical and spiritual wellness, with many attracted to so-called “energy vortexes,” which some believe to have healing properties.

“For trail activities on the beach or in the mountains, we see the highest number of activities happening in the summer in the U.S., specifically in July,” Meaghan Praznik, a representative from AllTrails told CNBC.

HSBC says buy this delivery giant that can jump more than 25%


Ukrainian soldiers heartened by delivery of U.S. Abrams tanks


(c) Reuters. U.S. M1A2 “Abrams” tank fires during U.S.-led joint military exercise “Noble Partner 2016”, near Vaziani in Georgia, May 18, 2016, REUTERS/David Mdzinarishvili/File Photo

By Anna Voitenko

DONETSK REGION, Ukraine (Reuters) – Ukrainian tank crews in the eastern front see the first delivery of U.S. Abrams tanks to Kyiv as a boost that will offer them more protection and firepower in battle.

President Volodymyr Zelenskiy said on Monday that Ukraine had taken delivery of its first shipment of U.S. jet-powered Abrams tanks to help in the defence against Russia’s invasion.

Mark Milley, the top U.S. general, has said he regards M1 Abrams tanks as the world’s best and that they “will make a difference” in the 19-month-old war. With a powerful engine, 120 mm main gun and special armour, the Abrams tank is particularly lethal against heavy armour forces.

Ukrainian tank crews training in the Donetsk region of eastern Ukraine said that once they were deployed, the Abrams tanks would be a big step up from the Soviet-era tanks they are currently operating.

“The Abrams tank….has protection against ammunition detonation. This tank does not have this protection. It would be better if we had foreign weapons. He said that the armor is better, and the tanks are more effective. Very quick. There are only a few shells left. “


In January, the U.S. pledged to supply Ukraine with 31 advanced M1A2 Abrams tanks after months of shunning the idea of deploying the difficult-to-maintain tanks to Ukraine. Zelenskiy has not said how many tanks have been delivered.

The Kremlin stated this week that U.S. military hardware, such as Abrams tanks, would not alter the situation on battlefield. Milley also stated that there is no “silver-bullet” for ending wars. Although Kyiv has received Western weapons, the progress against Russian troops on the eastern front is slow. Oleksandr stated that “big numbers are what makes progress.” “For instance, we know they have more tanks in Ukraine than we do. We will win if we have more weapons, and we can confront their two tanks with four of ours. “

Oleksandr stated that his list of Western military assistance included ammunition, artillery, fighter planes and tanks. “And more men because infantry are being wounded and killed,” he said.

Trump will not attend next GOP debate, campaign says


Former U.S. President Donald Trump speaks speaks at a campaign rally at Drake Enterprises, an automotive parts manufacturer, on September 27, 2023 in Clinton Township, Michigan.

Scott Olson | Getty Images

Former President Donald Trump will skip the third Republican debate, once again snubbing his rivals as he holds a commanding lead in the polls for the GOP nomination.

“He isn’t going,” Chris LaCivita, a Trump campaign senior adviser, confirmed to NBC News on Thursday.

The next debate will be held in Miami on Nov. 8, a short drive from Trump’s Florida residence.

LaCivita would not comment on possible counter-programming for the night of the third debate.

Trump has held competing events during the last two debates. On Wednesday, he delivered prime-time remarks at a non-union auto parts company in Michigan, and during the first debate Tucker Carlson aired a pre-recorded interview with Trump on X, the platform formerly known as Twitter.

Republican hopefuls debated without Trump for a second time on Wednesday night, with several candidates stepping up their attacks on the former president.

Instead of facing off for a third time, LaCivita urged the Republican National Committee to call off future debates in order to focus attention on President Joe Biden, saying in a statement late Wednesday that the party should “quit wasting time and money” that could be used to retake the White House.

Trump told the Daily Caller in an interview published Thursday that he would not attend the third debate and indicated Republicans should rally around him, declaring there is “not going to be a breakout candidate.”

Josh Brown says AI bubble popping is the biggest risk to this market


Josh Brown, CEO at Ritholtz, stated that artificial intelligence will be a major factor in the markets as we approach the end of this year. In a PROTalks interview conducted by Mike Santoli at the Delivering Alpha Conference, he stated that “AI is the greatest risk to the market”. “Yes, AI is exciting to me, but I am a human being. “I’m also very concerned that we might have gotten excited too early, and that poses a pretty substantial psychological risk for the market going into year-end.” AI is a hot topic among investors, and a few stocks that are seen as ways to profit from the popularity of this technology have soared. Nvidia, widely regarded as a good way to get investors exposed to AI, is one example. It has risen nearly 200% in the past year. NVDA.SPX.IXIC YTD mountain Nvidia vs. S & P 500 & Nasdaq Composite in this year. But, Brown says, several AI-related catalysts could sour the sentiment of the Nasdaq Composite’s megacap stocks. He said that a demand pull-forward, or Microsoft using large language models less than expected, could be an example. Brown cited another example where Nvidia saw more double orders than expected. Nasdaq, the technology-heavy index, has outperformed the other two major indices in this year’s performance. It gained more than 26 percent by 2023 due to a rebound of growth stocks and tech. Brown noted that technology played a positive role in improving the market sentiment during this year. He emphasized how Nvidia’s strong earnings report in May and positive outlook helped improve investor spirits. This marked a change from March and April when the banking crises roiled the market. Brown stated that “AI saved this year’s stock market, on an index level.” Brown said that Nvidia’s May guidance was “like a switch flick.” Nvidia’s market cap is now more than $1 trillion. This puts it in an exclusive club. Wall Street believes that Nvidia has more upside, even after its rally this year. The average price target set by LSEG analysts suggests the stock could rise another 45%.

Endeavor, Fenway Sports consider investment in the PGA Tour


The PGA Tour logo is seen during the third round of the Travelers Championship at TPC River Highlands in Cromwell, Connecticut, on June 24, 2017.

Fred Kfoury | Icon Sportswire | Getty Images

The PGA Tour is attracting potential outside investors — some of which are considering making a rival pitch to the Saudi-backed Public Investment Fund’s proposal, according to people familiar with the matter.

Endeavor Group Holdings and Fenway Sports Group are considering investing in the PGA Tour, potentially to rival or coincide with the PIF’s proposed deal, said the people, who declined to be named due to the sensitive nature of the discussions.

The discussions, which are in preliminary stages, stem from a PGA Tour investment vehicle created as part of the framework agreement for its proposed deal with PIF.

“Throughout 2023, the PGA Tour has demonstrated its strength, reach and value as an enterprise. Our focus continues to be on finalizing an agreement with the Public Investment Fund and the DP World Tour, however, our negotiations have resulted in unsolicited interest from other investors,” said a PGA Tour spokesperson.

Representatives for Endeavor and Fenway declined to comment.

Bloomberg earlier reported that Endeavor and Fenway were mulling a rival offer.

In June, the PGA Tour announced a proposed deal that would see it combine with rival LIV Golf following months of lawsuits and competition between the two. LIV is financed by the PIF, which belongs to Saudi Crown Prince Mohammed bin Salman. PIF has said it would invest billions into the entity and hold a noncontrolling minority stake.

Specifics of the deal and its valuation are still being discussed. A definitive agreement must be approved by the tour’s board and player directors. The tour, its members, and PIF will ultimately decide on the final structure of investment, including whether or not alternative investors are included. A Senate subcommittee is investigating the deal. The Saudis have been accused of “sportswashing” to take the focus off the kingdom’s history of human rights violations.

Endeavor recently was behind the combination of its UFC and World Wrestling Entertainment, a newly merged publicly traded company now called


. Fenway, an investment company, is behind several major sports teams, including Major League Baseball’s Boston Red Sox and National Hockey League’s Pittsburgh Penguins.

Boeing CEO says travel demand recovery is 'more resilient' than he imagined


A Boeing 777x is displayed during the International Paris Air Show at the ParisLe Bourget Airport, on June 20, 2023.

Geoffroy Van Der Hasselt | AFP | Getty Images

Boeing CEO Dave Calhoun is optimistic about the recovery of travel demand, which he said is stronger than he expected.

“Yes, it is resilient. Calhoun said on CNBC’s Squawk Box Asia that the recovery of travel demand is stronger than he expected. Calhoun told CNBC’s “Squawk Box Asia” that the aviation industry is not experiencing recession fears. He said, “Order books and proposals are as robust as

has ever been in my career.” Dave Calhoun[he’s]CEO Boeing

“If anything, this is the question we are all grappling with: How do we regain resilience in our supply chains that they had prior to Covid, so that we can meet the demands,” said Mr. Calhoun. Both Boeing and rival


said supply chain constraints are curtailing their abilities to ramp up production. In May, the World Travel & Tourism Council predicted that the travel and tourism industry would not recover fully this year. And while China’s domestic airline capacity has fully recovered, international flight capacity is still less than half of pre-pandemic levels, a Skift Research report showed.

Still, Calhoun said, “I’m actually bullish with respect to my company, and China. “

They need more lift, just like everyone else around the globe,” Calhoun said. He added that he hoped the geopolitical worries surrounding China would “begin dissipating a bit.” Calhoun stated that it would take “a pretty long time” for the C919 jet, produced by Comac in China, to become a global competitor for Boeing and Airbus. Even if this were the case, given the travel demand, it wouldn’t be the “worst” thing. By 2050, it is not the worst for aviation to have three competitors. In fact, it’s a positive thing. “

Say Goodbye To McMansions And Hello To Minimalist, Simple-Sized Homes


The American Dream used to include a house with a white picket fence. And then, at some point, expectations grew larger and more grandiose (perhaps coinciding with Dallas, and Dynasty, two wildly popular prime time TV soap operas with the wealthy, sprawling settings). Opendoor’s report reveals that consumers are moving away from such opulent homes in favor of something more streamlined. A report by Opendoor reveals that consumers are moving away from such opulent homes in favor of something more streamlined.

According to the survey, 60% of respondents say they have changed their definition of a dream home:

52% want a smaller home

81% want a simpler style/design

57% say the top priority is a quiet and secluded location


67% would move to a quieter place

61% would move to a smaller space

Maureen McDermut, realtor at Sotheby’s International-Santa Barbara, isn’t surprised by the findings. “Overall, I have had more buyers express that they want to find homes that are further away from urban or suburban settings, with many wanting smaller homes in general,” she says.

Opendoor refers to this as “simple-sizing,” or a less-is-more approach to where and how Americans live. 87% of respondents to the survey rated living a simple lifestyle as important. 66% have taken steps in the last year to make it a reality. In addition, 75% said they were willing to downsize, and 79% planned to actually downsize in the next 12 months.

Smaller Homes

So, what’s fueling this trend toward smaller homes? Brett Ringelheim is a licensed real estate agent at Compass, in New York, NY. He says that he works with homebuyers looking for smaller houses. He says that although a large, beautiful home is a wonderful thing to have, the cost and upkeep can be a major issue after moving in. “Having a large beautiful home is always something special to have, but after moving in, the amount of upkeep for the property and the cost can be drastic.”

In fact, the OpenDoor survey also found that Americans want to declutter, reduce personal spending, focus on what’s needed now, and prioritize self-care.

And according to

DeLisa Dawkins, realtor with Realty ONE Group Freedom in Greenville, SC, it’s a multi-generational trend. She believes that the current generation wants to buy a smaller or mid-sized home regardless of price. The current generation of homebuyers wants a small or midsize house, regardless of the price. McDermut says that buyers are also considering the environmental impact and energy costs. In fact, she believes the cost of the home itself isn’t as much of a factor as these other considerations.Also, a smaller home may offer other, more important amenities. Greg Forest, a senior global real estate adviser at Sotheby’s International Realty, Palm Beach, FL, says that exterior space has become just as important as the interior, leading to greater relaxation in the home when entertaining or working. And he says smaller homes with larger yards can provide the type of well-rounded living experience that many people are craving.

Simpler Styles/Designs

In addition to a smaller home, buyers and homeowners have a desire for simplicity when purchasing a home. We age in our homes, so the comfort and convenience of a space is critical when we know we’ll often be in it for the long-haul,” says Opendoor broker Jennifer Patchen. “As a result, buyers are looking to not only find a home that helps them prioritize their health from a future-planning perspective, but also encourages healthy habits in the near-term.”

In terms of neighborhoods, Patchen says buyers are looking for easy access to outdoor recreation like parks, bodies of water, and bike lanes.

Also, those COVID-19 lockdowns may have contributed to the current mindset. Patchen says that “our homes have become our everything: Our gyms, offices, restaurants, and movie theaters.” “The focus shifted to reducing the size of the home and creating space with multiple uses that increase functionality while eliminating less-used space,” explains Kristina ODonnell,

associate broker and realtor at Realty ONE in Collegeville, PA. “An open floor plan encourages togetherness with an easy flow for entertaining and being able to keep an eye on the kids while in the kitchen or working from home.” In addition, a smaller home requires less time and effort to clean, which results in more time for enjoyable activities.There’s also another reason why simplicity is back in style. Forest says that simplicity is the new luxury. “Simple designs are increasingly seen as luxurious because they often focus on quality over quantity, they prioritize function, and enable homeowners to create spaces that are both aesthetically pleasing and personally meaningful.”

Quiet, Remote Locations

The rise of remote work may have also spurred the rise of remote living. People are no longer restricted to living in cities or places with “reasonable commute times” because they can work from anywhere. So, the question becomes, ‘If you can live anywhere, where do you want to live?’

And for first-time homebuyers who were previously living in cramped apartments during COVID-19, the desire for privacy and solitude could be especially strong. “While cities and even some suburbs offer amenities, many homebuyers are more focused on solitude and space,” says McDermut. “A home should provide a retreat from the world, and many buyers are looking for that in their home’s location.”

This view is shared by Forest, who also notes that people are craving privacy. Living further away from the city means less traffic, which leads to a more peaceful, quieter environment. Forest also points out that homeschooling is a factor. “With less noise and distractions, children can concentrate better, and there is often more space for outdoor learning activities, providing a well-balanced education experience.”

When asked about other ways they wanted to simple size, 49% of survey respondents wanted to be environmentally conscious, 41% they wanted to drive less, and 23% wanted to grow their own food. These factors are easier to achieve in remote locations. Patchen says that simplicity can be a source of comfort, and adopting a more quiet, remote lifestyle has long-lasting benefits. “As a consequence, we are seeing a move towards this idea of simplesizing. This is not quite an upsizing or downsizing but somewhere in between.”

Trump unexpectedly says he won't seek to move his Georgia election case to federal court


Former U.S. President Donald Trump speaks to a crowd during a campaign rally on September 25, 2023 in Summerville, South Carolina. 

Sean Rayford | Getty Images

Former President Donald Trump will not seek to move his criminal election interference case in Georgia to federal court, according to a court filing Thursday.

The filing comes weeks after the former president’s attorneys notified Fulton County Superior Court Judge Scott McAfee, who is presiding over the case, that he might attempt to pursue a federal venue.

“This decision is based on his well-founded confidence that this Honorable Court intends to fully and completely protect his constitutional right to a fair trial and guarantee him due process of law throughout the prosecution of his case in the Superior Court of Fulton County, Georgia,” Trump attorney Steven Sadow wrote.

The Fulton County District Attorney’s Office declined to comment.

Trump is facing charges related to allegations that he and 18 co-defendants sought to overturn his election loss in Georgia. Some of his co-defendants have made efforts to move their cases to federal court, which would allow them federal defenses to the charges and could offer more favorable jury pools.

All 19 defendants have pleaded not guilty in the case.

A federal judge on Sept. 8 denied former Trump White House chief of staff Mark Meadows’ bid to move the Georgia criminal case against him to federal court. That ruling came a day after a Trump attorney said the former president might seek a similar move.

During a hearing last week, lawyers for former Justice Department official Jeffrey Clark, also pressed to move their client’s case to federal court, arguing that Clark was operating in his official capacity when he prepared a document that falsely claimed the Justice Department had identified “significant concerns” that may have affected the outcome of the election in Georgia and other states.

As Trump’s civil and criminal cases pile up, with one scheduled to go to trial next week and others scheduled to start when the GOP primary season is in full swing next year, he has argued that such trials should be postponed until after the 2024 presidential election.


Republican moderates stymie McCarthy on agriculture, FDA bill


House Republicans failed to pass legislation to fund Agriculture, Rural Development and the Food and Drug Administration late Thursday night after more than two dozen moderate Republicans came out against a provision that would limit access to an abortion pill.

The chamber voted down the measure in a 191-237 vote, with 27 Republicans joining all Democrats in opposition.

The failed vote marks a setback for Speaker Kevin McCarthy (R-Calif.), who has been working to clear fiscal year 2024 appropriations bills ahead of the Sept. 30 government funding deadline.

Passing the agriculture legislation — or the other 11 appropriations bills — would not help Congress fund the government and avoid a shutdown by Saturday’s midnight deadline, but House GOP leaders are hoping that the consideration of the single-subject funding measures will help sway hardline conservatives to support a stopgap bill to keep the lights on in Washington past the weekend deadline.

Thursday night’s failed vote, however, did not come as a total surprise.

The funding bill was on thin ice Wednesday, when a handful of GOP moderates said they would not support the legislation because it included a provision that would limit access to mifepristone, an abortion pill. The legislation calls for nullifying a Biden administration rule allowing mifepristone to be sold in retail pharmacies and by mail with prescriptions from a certified health care provider.

Reps. Nancy Mace (R – S.C.) Marc Molinaro – R – N.Y. – said on Wednesday that the mifepristone provisions in the bill prevented them from supporting it. Rep. Mike Lawler, R-N.Y., told reporters that his position on the bill has not changed. The agriculture funding bill includes a series of cuts to spending that Democrats say will harm the recipients of WIC and other programs. The agriculture funding bill pursues a menu of spending cuts, which Democrats have said would harm recipients of programs like Special Supplemental Nutrition Assistance Program for Women, Infants and Children (WIC).

The White House chief of staff says it's on House Republicans to avert a shutdown


Jeff Zients is the chief of staff for President Biden, seen in this photo taken on May 16, 2023. He works with federal agencies so that they are prepared for a shutdown this weekend.

Chip Somodevilla/Getty Images

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Jeff Zients is the chief of staff for President Biden, seen in this photo taken at the Oval Office, May 16, 2023. He works with federal agencies on preparing for a shutdown of government this weekend.

Chip Somodevilla/Getty Images

The White House is getting ready to communicate with the public and with federal workers in the event that Congress fails to reach a last-second agreement to keep the government funded beyond Saturday night, President Biden’s chief of staff Jeff Zients told NPR.

But it doesn’t seem likely that Biden will be communicating face-to-face with House Speaker Kevin McCarthy about the funding impasse in the immediate future.

“There’s no need for a meeting right now. The meeting that has to take place is in the House of Representatives — where House Republicans come together and fund the government,” Zients said in an exclusive interview.

McCarthy said on Tuesday that he thought it would be “very important” to have a meeting with Biden to discuss government funding and border policies. Zients said White House teams are in regular contact with their counterparts on the Hill, including McCarthy.

Zients says there’s nothing easy about a government shutdown

Congress is inching closer to a shutdown. The Senate has a bipartisan short-term bill that will fund the government until November 17, and provide disaster relief in the United States and Ukraine. House Republicans, however, have rejected this plan and are now moving forward with their own strategy that combines spending cuts with tougher immigration policies. Zients also noted that FEMA recovery projects and small business loans would stall. He also noted FEMA recovery projects and small business loans would stall.

“There’s nothing easy here — so we’ll be prepared, but there’s nothing one can do if the government shuts down to avoid these bad consequences,” Zients said.

Zients said he did not expect a shutdown to hurt the economy – at least in the short term. It’s never the right time to shut down the government. He said that he believed the economy was strong and that as long as the House Republicans did their jobs, the economy would be fine, and the government would function.
President Biden and Vice President Harris, along with congressional leaders including House Speaker Kevin McCarthy, at an Oval Office meeting on May 16.

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President Biden and Vice President Harris, along with congressional leaders including House Speaker Kevin McCarthy, at an Oval Office meeting on May 16, 2010.

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The White House pins the blame on House Republicans

Zients repeatedly emphasized that funding the government was up to House Republicans. Zients stated that “we shouldn’t even be having this discussion.” This deal set spending limits for two years in order to avoid this exact scenario. That deal set spending limits for two-years in hopes of avoiding this exact scenario.

“Now what we have is a small group of extreme Republicans in the House reneging on that deal,” he said.

Biden, who is on his way back to Washington after a three-day fundraising trip in California and Arizona, has told donors in recent days that a shutdown would be “disastrous” and described McCarthy as choosing to try to keep his speakership rather than do what’s in the interests of the country.

The White House has sought to draw a contrast between Biden governing – and House Republicans who Zients described as focused on a “shutdown and other extraneous issues that really have nothing to do with making peoples’ lives better. “

On September 28, 2023, President Biden will deliver remarks in Phoenix about democracy.

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President Biden gives remarks on democracy at Phoenix, Sept. 28, 2023.

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Expect to hear from Biden on Sunday, if a shutdown happens

Zients received some advice on how to handle a moment like this from former White House chiefs of staff this summer, over dinner. Biden will be speaking to the American public if a shutdown occurs on Sunday, which is increasingly likely. Zients said that if a shutdown occurs, the president will communicate with the American people as he does in these times. “

Automakers grow frustrated over pace of UAW negotiations as new strike deadline looms


Striking members of the United Auto Workers (UAW) picket outside the GM’s Willow Run Distribution Center, in Bellville, Wayne County, Michigan, U.S., September 26, 2023.

Evelyn Hockstein | Reuters

DETROIT – Tensions are rising and accusations are flying between the Detroit automakers and United Auto Workers, as the union threatens to expand U.S. plant strikes – marking two weeks of work stoppages and the dwindling likelihood of an imminent breakthrough.

The UAW is expected to announce additional strike targets at 10 a.m. ET Friday, barring substantial progress by in negotiations with General Motors, Ford Motor and Stellantis for contracts covering some 146,000 autoworkers. UAW President Shawn Fain will host a Facebook Live event then to update members on the talks and identify additional strike locations, a source familiar with the talks said.

In the run-up, frustrations remain around key economic demands and what some see as a lack of urgency by the union to reach a deal, according to people familiar with the discussions who spoke on the condition of anonymity because the talks are private.

Specifically, GM and Stellantis have grown increasingly frustrated by a lack of participation from Fain and what they say are delays in receiving counter proposals from the union, sources said.

The union set a new Friday deadline before holding any high-level meetings between Fain and the companies, the people said, raising questions about the union’s commitment to reaching a deal and ending the strikes. As of the Wednesday announcement, the UAW also hadn’t put forth counter proposals to offers made by the automakers roughly a week earlier, the people said.

The first high-level, “main table” talks between the union with Fain and the two automakers came only after that Wednesday announcement, in a late-afternoon meeting the same day with GM, without CEO Mary Barra, and a midday Thursday meeting with Stellantis, the sources said.

The union Thursday afternoon confirmed it submitted a counter offer to Stellantis during the meeting – giving the company less than 24 hours to respond ahead of the fresh deadline.

The lack of urgency is increasingly frustrating company negotiators, many of whom are more accustomed to around the clock bargaining to get a deal as soon as possible, the sources said. Such talks have been few and far between as Fain attempts to negotiate with all three companies at once, they said.

Fain has consistently said the union is available to negotiate 24/7, however the automakers have questioned his availability and the union’s tactics broadly, particularly in light of leaked private messages in which UAW communications director Jonah Furman described keeping the companies “wounded for months.”

A UAW spokesman declined to comment on the strategy, including on the union waiting a week to respond and giving Stellantis less than 24 hours to respond.

Concerns around the pace of talks follow similar claims by Fain and the union. Prior to initiating strikes on Sept. 15, Fain heavily criticized the automakers for failing to provide counter offers to the union’s proposals, which were first delivered to the companies in early August.

All three automakers say they’ve made substantial offers to the union. The deals on the table include hourly wage increases of roughly 20%, thousands of dollars in bonuses, and enhancements to the workers already-substantial benefits packages. Ford, for its part, has offered to reinstate prior cost-of-living adjustments to offset inflation.

But the UAW has demanded more, including 40% wage increases, an end to the “tier” system under which new hires spend several years working up to full wages, a 32-hour workweek, and benefits including additional time off and insurances about electric vehicles.

About 18,300 workers, or roughly 12.5% of the UAW members covered by its contracts with the Detroit automakers, are currently on strike.

On the picket lines

In recent days, union members on the picket lines have reported confrontations, intimidations with guns, hit-and-run vehicle accidents and vandalism of vehicles and company property.

Five people suffered minor injuries when they were hit by a vehicle that drove through the UAW’s picket line while leaving a GM parts facility in Flint, Michigan, on Wednesday. The vehicle was driven by a third-party contractor doing work for GM at the facility.

UAW members and workers at the Mopar Parts Center Line, a Stellantis Parts Distribution Center in Center Line, Michigan, picket outside the facility after walking off their jobs at noon on September 22, 2023. 

Matthew Hatcher | AFP | Getty Images

GM issued a statement saying that three contractors, including the driver, had been banned from its properties. It urged its other contractors and salaried employees to follow established safety procedures when crossing a UAW picket line.

Separately, Stellantis released a statement on Thursday accusing the UAW of mischaracterizing other incidents that did not – contrary to statements by Fain – involve replacement workers, or so-called “scabs.”

“Since the UAW expanded its strike to our parts distribution centers last Friday, we’ve witnessed an escalation of dangerous, and even violent, behavior by UAW picketers at several of those facilities, including slashing truck tires, jumping on vehicles, following people home and hurling racial slurs at dedicated Stellantis employees who are merely crossing the picket line to do their jobs,” the statement said.

The company said it has not hired any outside workers to replace striking UAW members: “Only current employees who are protecting our business and third parties making pick-ups and deliveries as they normally would are entering our facilities.”

The company called on Fain and other UAW leaders to help ensure the safety of all Stellantis employees, including those on the picket line.

Lions vs. Packers live updates: Lions dominating, up 27-3 early in third quarter


Week 4 of the NFL season kicks off Thursday with the Detroit Lions (2-1) taking on the Green Bay Packers (2-1) at Lambeau Field in to reignite a classic NFC North rivalry.

Detroit is coming off a 20-6 win over the Atlanta Falcons, while Green Bay pulled off a 17-point comeback to beat the New Orleans Saints 18-17 in Week 3. Last season, the Lions won the season series against the Packers including a win on the road in Week 18. This eliminated the Packers’ playoff chances. Green Bay has placed left tackle David Bakhtiari (knee), who is expected to return in the near future, on injured reserve. Oops!

On third down of the opening possession, Lions quarterback Jared Goff was intercepted by safety Rudy Ford. He ran the pick back to the Lions’ 16-yard line. Lions running back David Montgomery (thigh) is active, but safety Kerby Joseph (hip) is inactive.

Here are the top moments!

Detroit Lions at Green Bay Packers


On third down of the opening possession, Lions quarterback Jared Goff was intercepted by safety Rudy Ford, who ran the pick back to the Lions’ 16-yard line.

Lions D holds

Detroit’s defense held Green Bay to a field goal off the interception, thanks to an eye-popping second-down sack from defensive end Aidan Hutchinson.

Lions strike

One play after Goff hooked up with tight end Sam LaPorta for a 35-yard gain, the quarterback hit an open Amon-Ra St. Brown for a 24-yard touchdown.

Doing it on the ground

Detroit forced a three-and-out and then went back to work. Goff picked up an 11-yard gain on the sixth play of Detroit’s next drive. Two plays later, Montgomery ran in a 3-yard touchdown for the Lions.

Running past them

Detroit forced another Green Bay three-and-out, and its offense kept the ball rolling shortly thereafter. As shown below, on the first play of their next drive, Josh Reynolds made a one-handed catch for a gain 26 yards. This was followed by Kalif Raymond’s 40-yard sprint. With that said, they were held to a 32-yard field goal from Riley Patterson.


On the first play of the ensuing possession, Packers quarterback Jordan Love’s pass was tipped by linebacker Alex Anzalone and intercepted by cornerback Jerry Jacobs, who ran the pick back to the Packers’ 7-yard line. Montgomery scored again for the Lions two plays later. They led 24-3.

HALFTIME: Lions 27, Packers 3

The Lions dominated the Packers in the first half thanks to a trio of touchdowns and their defense holding the latter to just three first downs, two of them coming via a defensive penalty. Detroit out-gained Green Bay 284-20.

Stay tuned for updates!

A familiar face

Packers fan and “Undisputed” fixture Lil Wayne ran out of the tunnel with the team.

Pregame scene

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Second Republican primary debate had the lowest TV viewership since 2015


Former U.S. Vice President Mike Pence, Florida Governor Ron DeSantis, businessman Vivek Ramaswamy, former South Carolina Governor Nikki Haley and U.S. Senator Tim Scott (R-SC) pose together before the start before the start of the first Republican candidates’ debate of the 2024 U.S. presidential campaign in Milwaukee, Wisconsin, U.S. August 23, 2023.

Jonathan Ernst | Reuters

When it comes to debates, the question of ratings is usually little more than a curiosity. But in the face of polling showing Donald Trump approaching 60% support among Republican primary voters — and an unusually high proportion of those voters saying their minds are already made up — it took on new significance last night.

With the former president again skipping the debate, how much interest would there be in hearing out a collection of non-Trump candidates?

The answer, per the Nielsen ratings service: about 9.3 million people. That’s a steep drop from the first debate, which was also held without Trump and attracted about 12.8 million viewers. It also represents — by a significant margin — the lowest TV audience for any Republican presidential debate since the start of the 2016 cycle, when Trump first became a candidate. 

Below is a chart of estimated viewerships for all GOP debates since the 2016 cycle. While it is true that the TV and streaming world has changed significantly over the last eight years — potentially explaining some of the audience slippage — there’s no escaping that last night represented a low water mark for Trump-era GOP debate interest.

Even though it was broadcast on Fox Business Network, Fox News Channel and Univision, it still attracted roughly 3.4 million fewer viewers than the first GOP debate just one month ago, which was hosted by the Fox News Channel. That’s a decline of 27%. By contrast, the decline between the first and second debates of the 2016 cycle — both of which featured Trump — was just 4%.

In a press release Thursday, Fox News said another 200,000 viewers watched on streaming platforms. The numbers in the chart below reflect TV viewership only.

Stocks making the biggest moves midday: CarMax, Accenture, Peloton, Jefferies and more


The Trimble logo is displayed on a smartphone.

Igor Golovniov | SOPA Images | LightRocket | Getty Images

Check out the companies making headlines in midday trading.

Trimble — The technology services provider jumped 6.5% Thursday on the back of an announcement that AGCO Corporation will acquire an 85% stake in Trimble’s agribusiness for $2 billion in cash, as the tractor and seeding equipment firm looks to grow its precision agriculture portfolio.

DigitalBridge — Shares of the digital infrastructure company added 4.8% after JPMorgan upgraded the company to overweight from neutral. The firm said DigitalBridge is largely finished with the transformation of its business.

Jefferies Financial Group — The financial services stock rose 1.9% even though the company’s third-quarter profits were hurt by a slowdown in deal-making. Jefferies reported earnings of 22 cents a share on revenue $1.18 billion after the market closed. Still, the company’s CEO expressed optimism that momentum in investment banking activity will return.

Duolingo — Shares gained 3.2% on Thursday after UBS initiated coverage of Duolingo the day prior with a buy rating, saying it’s a “best-in-class brand. “

Host Hotel & Resorts – Shares rose 3.5% on Thursday after Wolfe Research began coverage of the realty investment trust. The firm gave it an outperform ranking. The firm set a price target of $22 for the company.

Workday — Shares plunged 8.5% a day after the cloud services company lowered its long-term subscription growth target to a range of 17% to 19%, compared to its previous target of 20%.

Accenture — Shares of the IT and consulting firm fell 4.3% Thursday after Accenture reported mixed results for its fiscal fourth quarter. The company reported adjusted earnings of $2.71 per share, on revenue of $15.99 billion. FactSet said analysts expected $2.65 per share for $16.07 billion in revenue. The company’s full-year guidance for the upcoming fiscal year for earnings and cash from operations also came in below expectations, according to StreetAccount.

Micron — The chipmaker’s shares fell 4.4% a day after Micron posted a weaker-than-expected earnings forecast. Micron expects a fiscal-first-quarter loss per share of $1.07, while analysts polled at LSEG (formerly Refinitiv) expected a 95-cent loss. For the fiscal fourth quarter, the company reported a narrower-than-expected loss as well as revenue that topped expectations.

Peloton — Peloton popped 5.4% Thursday. Peloton announced a strategic partnership with Lululemon on Wednesday. As part of the deal, Peloton’s content will be available on Lululemon’s exercise app and Lululemon, in turn, will become Peloton’s primary athletic apparel partner.

CarMax — Shares fell 13.4%. Earnings and revenue for the used-car retailer fell from a fiscal second quarter a year earlier due to a weakening in demand for used vehicles. The company reported that it had earned 75 cents a share, on revenue of $7.07billion. It also said that it purchased 14.9% less vehicles from dealers and consumers compared to the previous year due to steep depreciation.

Concentrix — Shares gained 6.8% a day after Concentrix said it would hike its quarterly dividend 10% to about 30 cents a share. Separately the consumer experience technology company reported adjusted earnings of $2.71 on revenue of $1.6 billion. FactSet analysts had expected Concentrix to earn $2.85 and revenue of $1.64 million.

Wall Street is betting on an active management comeback with new ETF launches


The growth of active ETFs is not slowing, as asset management firms of all sizes are shaking an industry that has been built on passive investing for decades. CFRA reports that there were 68 active funds launched in the third quarter, as of September 22. This compares to 49 launches of indexed funds. This week, several more active funds will be launched. This puts this period over the second quarter levels and may even surpass the 78 listings in the third quarter last year. The majority of ETFs are passive funds, which cost less on average than active products. Most of the biggest passive funds follow indexes such as the S & P 500. This is an index that most active managers are unable to beat every year. In a year such as 2023, when a significant portion of returns was driven by a small number of stocks, it can be difficult to beat the market. Investors are looking for products that generate income without experiencing dramatic price fluctuations. The volatility of the stock market over the past few years has created this desire. BlackRock’s new BlackRock Large Cap Income Fund (BALI), which was launched on Thursday, is a fund that fits into this trend. In spite of the turbulent market, clients continue to demand ETFs which can provide consistent income while actively managing risk. Investors increasingly seek out differentiated income and growth sources for their portfolios. This could be to fund a long-term retirement or to achieve other financial goals. Rachel Aguirre is the U.S. head of iShares Product for BlackRock. What works? The BlackRock fund uses active management to select dividend stocks, along with an overlay of options designed to increase income. This strategy is similar in many ways to popular income products offered by JPMorgan – JEPI and JEPQ – which, according to FactSet have raked up about $16 billion in new assets in the past year. In part, this was due to yields at times comparable to junk bond funds. JEPI is the largest active ETF. It has underperformed this year’s S & P 500 but still attracts new money. “One of our problems, and this is true for some of the active funds we run, is that you’re often tied to an index. We do run a few active funds which are focused on different outcomes. For example, income, so that you don’t really try to beat the Nasdaq 500 or S & P 500,” explained Euan Munro. He is the CEO of Newton Investment Management a division within BNY Mellon Investment Management. Fixed income and international equity are also areas where active ETFs have gained traction. This suggests that investors are willing to pay more for an active manager on markets with greater transparency. Cooper Abbott, CEO of Matthews Asia, said that the ability to have an X-ray view on emerging markets is crucial. Abbott’s company launched five active funds, including the Matthews Japan Active Fund (JPAN), last week. A new era? Regulation changes are partly responsible for the growth of active funds. In 2019, the SEC relaxed restrictions on ETF launches, so investors are shifting from active mutual fund strategies to active ETFs that have similar strategies. You’re seeing more managers, like ourselves, curating their capabilities and saying what else clients would want to access through this vehicle. You’re seeing a lot of fund launches, but also a lot of clients that already know and trust the manager. They already know their capabilities, so they want to use this vehicle,” said Stephanie Pierce. She is the CEO of Dreyfus Mellon & Exchange Traded Funds, BNY Mellon Investment Management. Asset managers could limit financial damage if active ETFs are successful. This is because they can use them to counteract the trend where investors move from expensive mutual funds to lower-cost passive funds. The active fund market could attract some of the most prominent managers. For example, Jeremy Grantham’s GMO filed a request for its first ETF in December. “I believe active ETFs represent the next step in recognizing the potential of this vehicle. In the past, ETF 1.0 was all passive. Then there was 2.0, with its factor-based products. “…and 3.0 brings true active management,” Abbott stated.

GameStop's survival demands 'extreme frugality,' CEO Ryan Cohen tells employees


A GameStop location on 6th Avenue in New York on March 23, 2021.

View Press | Corbis News | Getty Images

Just hours after being named GameStop‘s CEO, Ryan Cohen sent out a memo to employees Thursday that emphasized he will take dramatic steps to ensure the struggling video game retailer survives.

“Our job is to make sure GameStop is here for decades to come,” he wrote in the email that was sent to corporate employees and store leaders and obtained by CNBC. The email was sent to corporate employees and store leaders, which CNBC obtained. It stated that “our job is to make sure GameStop is here for decades to come.” The company’s expenses must be examined under a magnifying glass and any waste must be eliminated. Money-wasters and delegators are not welcome in the company. I expect all employees to treat the company’s money as if it were their own, and set an example. “

Cohen, a billionaire activist investor and founder of direct-to-consumer pet food and supply retailer Chewy, was named the company’s new leader Thursday morning. His previous role was as executive chair at GameStop. As of late June, his firm RC Ventures was the company’s largest shareholder with a 12.09% stake, according to FactSet.

Cohen’s CEO announcement previewed the company’s emphasis on slashing costs: He will not receive a salary in his new role.

Cohen became an integral part of the “meme stock” frenzy, as he invested in companies including now bankrupt Bed Bath & Beyond. He joined GameStop’s board in 2021 in the thick of the phenomenon.

Cohen’s new role kicks off the latest chapter of GameStop’s effort to reinvent itself. The Grapevine-based retailer was founded in 1980 and built its business by selling video games, consoles, and other gaming products. It has had to find new business models as online video game sales have declined. The company also had to deal with major leadership changes. GameStop hired Amazon veterans Matt Furlong as CEO and Mike Recupero as chief financial officer. With Cohen on the board, GameStop was able to hire multiple Amazon veterans. Cohen got the top job nearly four months after the company ousted Furlong.

GameStop shares closed at $16.84 on Thursday and have fallen nearly 9% this year. The closing price was less than a quarter of its all-time high close of more than $86 a share in January 2021.

Earlier this month, GameStop reported a second-quarter net loss of $2.8 million, compared to a $108.7 million loss in the prior-year period.

Read the full memo below:

Subject: Survival

I will be straight to the point.

It is not sustainable for GameStop to operate a money losing business. It is not sustainable for GameStop to run a money-losing business.

I will get straight to the point.

It is not sustainable for GameStop. We must be able to withstand any adverse situation with our expense structure. We must remain profitable, regardless of the economy. It’s our job to ensure that GameStop will be around for many decades. Extreme frugality is needed. The company’s expenses must be examined under a magnifying glass and any waste eliminated. I don’t want money-wasters or delegators in the company. I expect all employees to lead by example and treat the company’s money as if it were their own. We will stay in the game if we survive. Avoiding the deadly sins can help you survive. It is often the result of buying poor inventory, using leverage and running high expenses. GameStop will be around for a very long time if they avoid these mistakes and focus on the basics. I don’t get paid so I have to either go down with the ship, or turn the company around. It won’t be an easy task. Best of luck to us all.

This story is developing. Please check back to see updates.

GOP struggles to find footing in first Biden impeachment hearing



Republicans sought to draw attention to evidence as sprawling as the probe itself, bouncing back and forth between reviewing Hunter Biden’s business dealings, communications with family members and associates, and the ongoing Justice Department investigation into his failure to pay taxes.

Still, the bulk of what they reviewed dealt only with Hunter Biden, not his father, even as Chair James Comer (R-Ky.) said “our investigation is now focused on whether President Biden engaged in impeachable offenses under the U.S. Constitution.”

Comer wrapped the hearing saying the panel would issue a subpoena for Hunter Biden’s personal bank records as well as those of his companies.

Democrats vacillated between drawing attention to the looming government shutdown — passing an iPad with a countdown clock from member to member — and what they deem holes in connecting any wrongdoing to President Biden.

Republicans’ star witnesses not always a help for GOP

Even as Republicans sought to convince the public of the need for an inquiry, GOP-invited witnesses at turns undercut their message, saying there was not currently enough evidence to back an impeachment resolution.

Jonathan Turley, a go-to witness for conservatives in Congress, at one point told lawmakers that some of the details they’d gathered “really do gravitate in favor of the president.”

“I do not believe that the current evidence would support articles of impeachment,” Turley said.

At another point, when asked to weigh in on GOP claims that Hunter Biden was engaged in “influence peddling,” Turley said Congress has failed to do needed work to connect it to President Biden.

“The key here that the committee has to drill down on is whether they can establish a linkage with the influence peddling, which is a form of corruption, and the President whether he had knowledge, whether he participated, whether he encouraged it. Tur But you can’t find the answers to that,” Turley said.

“But without that type of nexus, then no, I don’t,” he added in response to whether he would back a vote to impeach President Biden.

Bruce Dubinsky, a forensic accountant also invited to testify by the GOP, said the party had not yet laid out enough evidence to even suggest there is wrongdoing.

“I am not here today to even suggest that there was corruption, fraud, or any wrongdoing. In my opinion, more information needs to be gathered and assessed before I would make such an assessment,” he said in his opening statement.

Rep. Jared Moskowitz (D-Fla.) later repeated some of Turley’s comments in his own line of questioning.

“Boy, that’s awkward,” he said. “As a former Director of Emergency Management, I know a disaster when I see one.”

Republicans lay out their goals – but say they’ve got the goods

The GOP offered an inconsistent message about the status of their investigation, at some turns suggesting they have gathered significant evidence that shows Biden family corruption while at others saying they had launched the investigation in order to determine whether there was any wrongdoing.

In his opening remarks, Comer suggested they already have such evidence, saying the committee “will examine over two dozen pieces of evidence revealing Joe Biden’s corruption and abuse of public office.”

But he later hedged that, saying he has no predetermined conclusions. Com Tur Com Pat You have crooked foreigners who deliver pallets of cash to the Bidens and they have dinner with Joe, and apparently Joe Biden is an expensive dinner date, and if that is not selling political access, I don’t know what is,” he said.

But other Republicans cast the evidence they’ve gathered as a rationale for continuing their search rather than proof of wrongdoing.

Rep. He

He flashed another text showing Hunter Biden’s daughter Naomi Biden texting her father and making a comment about how she would not ask for half of his salary like “pop.”

“Would you be looking for information related to money going from son to father,” Donalds asked.

Democrats were dismissive of Republicans who said the inquiry was a jumping off point for gathering more evidence that would answer the questions they’ve laid out.

“Many of my colleagues on the other side of the aisle in this hearing have questions, but questions are not the basis for an impeachment. Evidence is,” Rep. Maxwell Frost (D-Fla.) said.

Democrats say it’s ‘an impeachment hearing about nothing’

Democrats on the panel largely used their time to showcase the gaps in connecting activities of the two Bidens.

Ranking member Jamie Raskin (D-Md.) At They They Most This Rep Michael Hunter The These 01

“In the case of President Joe Biden,

decided to start the impeaching now and figure out the whole evidence thing later, and you still haven’t figured it out,” Rep. Greg Casar (D-Texas) said.

“This inquiry is a cynical attempt to tar everyone, to make everyone look suspect, to make everyone look corrupt, so that voters just give up and say, ‘There’s not much difference here.'”

And Moskowitz said Republicans efforts to launch a legitimate inquiry were undercut by Republicans who raced to file numerous impeachment inquiries at the start of the new Congress.

“Every single member, many on this committee, pre-judging their filing articles… They’re all one upping each other in the Donald Trump friend Olympics trying to get invited to the sleepover at Mar-a-Lago. ” It is ridiculous,” he said.

Republicans refuse to call in Rudy Giuliani

Republicans on the panel twice quashed efforts by Democrats to bring in Rudy Giualani, and in one case an associate who worked alongside him as he traveled to Ukraine to further allegations that President Biden improperly intervened to oust a Ukrainian prosecutor to benefit his son.

Raskin first made the motion, calling Giuliani and his associate Lev Parnas “the origins of the lie on which this sham impeachment is based and who worked to spread it.”

It was Giuliani that sought to raise allegations that Biden sought to force out a Ukrainian prosecutor to benefit his son – despite backing from the international community and the State Department that the prosecutor should be removed due to a failure to address corruption.

“When I walked into this hearing room, my first question was, where is Rudy Giuliani?” Lynch said. ” We We are not allowed to ask him questions.”

Both motions to bring Giuliani before the panel were blocked by subsequent motions from Republicans.

At one point, Rep. Kweisi Mfume (D-Md.) K He

Nike misses on revenue for first time in two years, but stock pops as earnings, margins beat


Nike reported revenue Thursday that fell short of Wall Street’s sales expectations for the first time in two years, but it beat on earnings and gross margin estimates, sending its stock soaring in after-hours trading.

Here’s how the sneaker giant performed during its fiscal first quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv:

  • Earnings per share: 94 cents vs. 75 cents expected
  • Revenue: $12.94 billion vs. $12.98 billion expected

The company’s reported net income for the three-month period that ended August 31 was $1.45 billion, or 94 cents per share, compared with $1.47 billion, or 93 cents per share, a year earlier.

Sales rose to $12.94 billion, up about 2% from $12.69 billion a year earlier. Revenue for the quarter was just shy of the $12.98 billion analysts had expected, according to LSEG.

Nike shares rose about 8% in extended trading Thursday.

Investors have been laser focused on Nike’s recovery in China, its relationship with its wholesale partners and how the resumption of student loan payments will impact sales. They’re also eager to see Nike’s profit margins improve after bloated inventory, high promotional costs and supply-chain woes have contributed to lower profits in the past few quarters. The company attributed the gross margin drop to higher product costs and currency exchange rates, but these trends were offset by price increases, which contributed to the earnings beat. The company attributed the gross margin drop to higher product costs and currency exchange rates, but those trends were offset by price increases, which contributed to the earnings beat.

Sales in China grew by 5% compared to the year-ago period to $1.7 billion, which fell short of the $1.8 billion analysts had expected, according to StreetAccount.

During the previous quarter ended May 31, Nike saw China sales jump 16% compared to the year-ago period. The numbers are not easy to compare because during the previous quarter ended May 31, Nike saw China sales jump 16% compared to the year-ago period. While Nike is bullish about China, so far the economic recovery in that region has been mixed. After a sluggish month in July, retail sales grew 4.6% compared with the previous year. This was above the Reuters’ forecast of a 3% increase.

Nike’s sales grew in all regions except North America, the company’s largest revenue market. Sales in North America fell 2% from the year-ago period to $5.42 billion, just above the $5.39 billion analysts had expected, according to StreetAccount.

In Europe, the Middle East and Africa, sales were up 8% at $3.61 billion. Analysts had predicted $3.51 billion. Sales in its Latin America and Asia Pacific unit came in 2% higher at $1.57 billion, just shy of the $1.59 billion analysts had expected, according to StreetAccount.

The Converse brand, on the other hand, fell well short of expectations for a second quarter in a row. Sales were $588 million, a 9% drop from the previous period. Analysts had expected sales to be about $660 million, according to StreetAccount.

When it comes to its wholesale revenues, Nike’s relationship with those partners have been rocky. The company’s shift to a direct model has seen it focus on increasing sales in stores and online, at the expense wholesale accounts. Nike relied on its wholesale partners to help it move excess inventory throughout 2023. It has now restored its relationship with both




– accounts that it previously cut in favor of its DTC strategy. Some analysts predicted that Nike’s wholesale revenues would be slow during the third quarter due to the excess inventory problem in the retail sector. Wholesalers have also been more careful about what they order, to avoid a backlog. Wholesale revenue during the quarter was flat compared to the year-ago period at $7 billion.Meanwhile, inventories fell 10% to $8.7 billion. The decline was primarily due to a drop in unit sales, which were offset by higher production and manufacturing costs and a change in product mix. Analysts expect that these sectors will be hit even harder by the return of student loan repayments. Jefferies did a survey of U.S. consumers’ spending, and 54% said they planned to spend less on clothing and accessories. Nike is not looking good as 46% of respondents plan to cut back on their footwear spending. It may be too soon to tell what impact student loan repayments will have on Nike. Its first quarter ended in late August, and payments aren’t set to resume until October.During the quarter, footwear sales rose 4% to $8.4 billion, making up about 68% of Nike’s total sales. Apparel was down 1% at $3.4 billion.

Correction: Nike’s gross margin fell 0.1 percentage points. This figure was incorrect in an earlier version.

Behind The Multifamily Numbers: Affordable Housing In New York City Attracts Big Money


Affordable housing accounted for approximately 43% of New York City’s $3.91 billion in multifamily sales in 2Q 2023, according to Ariel Property Advisors’ Q2 2023 Multifamily Quarter in Review report.

Major mission-driven investors including Nuveen, The Vistria Group, Tredway and Asland Capital Partners in association with Goldman Sachs made sizable affordable housing acquisitions across the boroughs in the second quarter, which contributed to the significant boost in dollar volume. In addition to preserving and producing affordable housing, investments in this asset class are attractive because they offer access to dedicated capital, value creation opportunities, property tax incentives, agency financing and scale, all of which have contributed to their substantial growth.

Mission-Driven Investors Step Up

Nuveen is one of the nation’s largest institutional managers of affordable housing and recently made a strategic decision to buy in New York City. Nuveen oversees more than $1.1 trillion in assets of which $6.4 billion is comprised of 161 affordable housing investments with approximately 32,000 units that primarily serve low-income residents earning 60% of area median income (AMI) or less.

Nuveen’s partial-interest acquisition of an affordable portfolio from Omni Holding Company for an estimated $956 million was the largest multifamily transaction in New York City in the second quarter and accounted for nearly 60% of the dollar volume invested in affordable housing during this period. Nuveen Real Estate announced that the deal involved 72 properties (tax lot) distributed across 5,900 units. The majority of these units were located in the Bronx, while the remainder of units were in Brooklyn, Queens and Northern Manhattan. “With the Omni transaction, we can develop and manage properties across the U.S. and achieve the desired outcomes for residents and investors.”

The Vistria Group,

a private investment firm, ventured into New York City’s affordable housing market for the first time in June by making a $174 million investment in a portfolio with 1,290 units across five rent stabilized buildings; four in the Bronx and one in Northern Manhattan. The transaction was financed through a Freddie Mac originated loan by Keybank.Eleonora Bershadskaya, Principal, Real Estate, for the Vistria Group, who was a panelist at Ariel Property Advisors’ recent Coffee and Cap Rates event, said the acquisition was appealing because the buildings have undergone significant capital improvements over the last decade and they benefit from an Article 11 tax abatement, which will be in place for the next 30 years.

“One of the most important factors was the level of affordability that will persist for a long time across the portfolio, especially in the Bronx which has seen pretty significant rent growth in the last five years,” Bershadskaya said. “Also, there are development opportunities in the borough, so having a haven of affordability in that area was important to us both from an impact and financial perspective.”

The Vistria Group, which expanded its Healthcare, Knowledge & Learning Solutions, and Financial Services sector focus last year to include affordable, mixed-income and workforce multifamily housing nationwide, is taking a long-term view when acquiring affordable housing assets as it seeks to meet a double bottom line.

“First, it’s incredibly important for us to help address the affordable housing crisis in this country,” Bershadskaya said. “Second, financially it also makes sense because when we provide that level of affordability, we have a sticky renter base with low turnover and high occupancy, which translates into lower cost and better economics for the asset.”


, a prominent New York City-based affordable housing owner-operator-developer, partnered with Gilbane Development Company and ELH Mgmt in May to acquire the Sea Park Portfolio, an affordable housing portfolio comprised of three former Mitchell Lama elevator buildings with a total of 818 units and an 89,357 square foot parcel. Ariel Property Advisors arranged the $150 million ($156/SF) sale.One of the multifamily buildings in the Sea Park portfolio acquired by Tredway.

Tredway and its partners plan to embark on a multimillion-dollar rehabilitation of the entire Sea Park complex focused on quality-of-life improvements as well as strengthening its resiliency and improving the property’s energy efficiency. The 90 units will be allocated to formerly homeless people, while three apartments will be reserved for the superintendents. The team plans to build 250 units of affordable housing for seniors at the site. The investments we make will create a more vibrant, diverse, affordable and healthy community for thousands of New Yorkers that call Sea Park, and the greater Coney Island neighborhood, home. “

Asland, a real estate investment company specializing in mixed-use and multifamily investments, has partnered up with

Urban Asset Group

of Goldmans Sachs Asset Management for the launch of the Asland Sustainable Housing Fund. Ariel Property Advisors arranged the $45.2 million transaction. Ariel Property Advisors arranged the $45.2 million transaction.The Asland Sustainable Housing Fund acquired an affordable housing portfolio located in Upper Manhattan and the Bronx for $45.2 million.

Affordable Housing Drivers

The increased demand for affordable housing illustrates how mission-driven capital sources are increasingly drawn to this sector because of its strong underlying fundamentals and incentives which include:

Satisfying investors’ double bottom line of integrating financial success with social accountability.

Property tax incentives and in some cases subsidies.

Value-add opportunities in the way of increasing rents, specifically with vouchered tenants whose rents are tied to the U.S. Department of Housing and Urban Development (HUD) Fair Market Rent schedule for each unit size.

  • The ability to leverage agency lenders (Fannie Mae, Freddie Mac and HUD) and city programs offered by HPD, HDC is a distinct advantage considering the scrutiny regional banks are facing since Signature Bank closed earlier this year. As a result, financing has become challenging for some multifamily deals, especially for rent stabilized assets.
  • My partner Victor Sozio summed up the appeal of affordable housing this way, “Not only does affordable housing continue to attract capital for CRA (Community Reinvestment Act) purposes, capital that’s designated for affordable housing, but there are still tools to work with to add value while also achieving the objectives of the respective agencies that govern and restrict these properties.”
  • In contrast, rent stabilized buildings, which only accounted for 10% of the second quarter multifamily sales, are seeing the lowest pricing metrics in almost two decades because the Housing Stability and Tenant Protection Act (HSTPA) of 2019 eliminated the ability to adequately increase rents to cover rising expenses and the renovation of vacant units.
  • What to Expect

Recent legislation, coupled with a city-driven commitment to preserving affordability, has created significant investment opportunities in affordable housing, which will result in steady returns for investors and improved living conditions for low-income housing tenants. This is a trend that we expect to continue as long as investor demand for this sub-segment of multifamily housing remains strong.

EEOC sues Tesla alleging widespread racist harassment of Black workers, retaliation against those who spoke out


Vehicles pass the Tesla Inc. assembly plant in Fremont, California, U.S., on Monday, May 11, 2020.

David Paul Morris | Bloomberg | Getty Images

The U.S. Equal Employment Opportunity Commission (EEOC) has sued Tesla accusing Elon Musk’s electric car maker of violating “federal law by tolerating widespread and ongoing racial harassment of its Black employees and by subjecting some of these workers to retaliation for opposing the harassment.”

Tesla did not immediately respond to a request for comment.

The federal agency responsible for enforcing civil rights laws against workplace discrimination announced it was filing suit against Tesla on Thursday.

In their complaint, the EEOC alleged that non-Black offenders at Tesla “bandied slurs and epithets openly” around high-traffic work areas around or on the vehicle production lines. Allegedly, supervisors and managers witnessed the racially offensive conduct but failed or refused to intercede.

When Black workers at Tesla reported the “slurs, insults, graffiti and misconduct” to Tesla’s human resources department, employee relations teams or other managerial personnel, the agency said that Tesla failed and refused to take steps to address the behavior.

Tesla was previously sued by a state civil rights agency in California over related allegations. A jury also previously ordered Tesla to pay a Black former worker, Owen Diaz, about $3.2 million in damages after finding he endured racist discrimination working there in 2015.

Last year, a financial filing from Tesla revealed that the EEOC had issued a cause finding against the company. After that, Tesla engaged in a mandatory conciliation process with the EEOC the filing said. The conciliation process was not successful, leading to the suit announced Thursday.

According to a statement sent to CNBC by the federal agency, the EEOC is seeking “compensatory and punitive damages, and back pay for the affected workers, as well as injunctive relief designed to reform Tesla’s employment practices to prevent such discrimination in the future.”

The lawsuit (EEOC v Tesla, Inc., Case No. 4:23-cv-04984) was filed in a U.S. District Court for the Northern District of California.

Read the lawsuit below:

Trump acolyte Kari Lake to launch Senate campaign in challenge to Kyrsten Sinema of Arizona


Arizona republican candidate for governor Kari Lake greets the audience during a stop on the Truth and Courage PAC’s Take Back America Bus Tour with Sen. Ted Cruz ahead of the midterm elections, at San Tan Flat in Queen Creek, Arizona, on Oct. 5, 2022.

Rebecca Noble | Reuters

Kari Lake, the Donald Trump acolyte who unsuccessfully ran for Arizona governor in 2022, will launch a candidacy for the Republican nomination for the U.S. Senate on Oct. 10.

The Arizona contest, in which Sen. Kyrsten Sinema is expected to seek reelection, could determine by a three-way race which party controls the Senate.

Lake, who narrowly lost the governor’s contest, like Trump continues to deny her defeat was legitimate.

The Wall Street Journal first reported Lake’s plan to announce her bid for the nomination. A source close to her later confirmed that plan to NBC News.

Democrats currently hold a majority in the Senate by a margin of just one vote, thanks to three Independents who caucus with them.

Sinema is one of those Independents, having dropped her affiliation as a Democrat in December.

Rep. Ruben Gallego is the likely Democratic nominee for Sinema’s seat.

Speaking at the Conservative Political Action Conference in March, Lake said, “I’m not just the most dangerous politician in America — I’m the most dangerous politician in the world because we are not going to let these people win.”

Suit yourselves: The Senate formalizes a dress code just days after ditching it


Sen. John Fetterman (D-Pa.) walks up Capitol Hill on Thursday. He said he would continue to wear a jacket and tie on the Senate floor, in accordance with the newly codified dressing code.

Mark Schiefelbein/AP

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Mark Schiefelbein/AP

Sen. John Fetterman (D-Pa.) walks up Capitol Hill on Thursday. He said he would continue to wear a jacket and tie on the Senate floor, in accordance with the newly codified dressing code.

Mark Schiefelbein/AP

The Senate’s decision to relax its informal dress code led to an unexpected development: a formal dress code. The Senate adopted a formal business casual dress code on Wednesday, only days after its leader had proposed to abolish it. Last week, Senate Majority leader Chuck Schumer ordered the Senate sergeant at arms to stop enforcing this unwritten rule and allow members to wear what they want. Senators vote from the doorway to the nearby cloakroom when they are dressed casually. The change was primarily made to accommodate Pennsylvania Democrat John Fetterman who wears hoodies, gym shorts and other casual clothing at work but not on the Senate Floor since he was hospitalized for depression earlier in the year. It angered many senators, especially Republicans who said that casual clothing in the Senate would be disrespectful to the institution and the constituents they represent. Many Democrats, including Senator Dick Durbin (the No. 2-ranking Senate Democrat. The world is watching us and we need to protect that sacred place at any cost. This prompted Utah Republican Mitt Mitt Romney and West Virginia Democrat Joe Manchin to introduce a Senate resolution this week that would formally establish an enforceable dress-code for the Senate floor.

According to Politico, the

(Show Our Respect To The Senate) specifies business attire for men, including “a coat, a tie, and slacks, or other long trousers”. The dress code does not mention women.

Manchin stated on the Senate floor, that senators have assumed for 234 year, there are some “basic rules of decorum and conduct, civility as well as dress code.” Last week they found out that there was no dress code. “We wrote this simple, two-page Resolution that will put this all to rest once and for all by codifying this long-standing practice as a Senate Rule,” he said. Before the vote Schumer expressed support for the resolution, and thanked lawmakers including Fetterman for their cooperation to reach an agreement. “Though we have never had an official code of dress, the events in the last week made us feel that formalizing it is the best way forward,” Schumer stated.

Fetterman promises to comply (and provides a meme).

Manchin praised Fetterman’s support and described the resolution as an effort by a team. He stated that they had “many discussions” about the matter.

Fetterman, who presided over Senate in a short-sleeved tee last week, said on Wednesday he’d wear a suit on the floor and vote from the door wearing casual clothing. He has poked fun at the dress-code discourse on X, formerly known as Twitter, and even dropped custom merchandise (tees, hoodies and of course, shirts) to respond to the criticism. He repeatedly urged his colleagues to focus their energies on more important matters, such as the impending shutdown of the government or the corruption allegations against Democratic Senator Bob Menendez. “The silly dress code issue was discussed,” Insider reported. We have other issues that we can address right now. “

After a resolution was passed, Fetterman issued a statement and a tweet with no words. Just a picture of Kevin James in flannel, smiling, with his hands inside his jeans pockets. This meme has been circulating on the internet for the past few days. A government shutdown is imminent

The debate over the dress code played out in Capitol Hill days before the deadline of Sept. 30, which was set to avoid a shutdown. Critics say it was a distraction and that they have used their energy to pass a crucial spending bill rather than codify business casual.

Romney acknowledged this in his remarks to the Senate after the resolution was passed. “This isn’t the biggest thing that’s going on in Washington right now,” he said, chuckling. It’s not SHORTS Actone of the biggest things happening in Washington right now. “

Still he said, a rare victory for bipartisanship shouldn’t go unnoticed:

It is another example of Republicans working with Democrats to solve a problem that may not seem big, but makes a huge difference to many people.

Suspect arrested in killing of Baltimore tech entrepreneur


Maryland authorities said a suspect has been arrested in the killing of a Baltimore-based tech entrepreneur.

The Baltimore Police Department (BPD) announced early Thursday the arrest of Jason Billingsley, who is suspected in the killing of Pava LaPere.

Authorities found LaPere dead in her apartment building with signs of blunt force trauma on her head after she was reported missing Monday evening. Authorities had issued an arrest warrant for Billingsley, saying he was wanted on a first-degree murder charge connected to LaPere’s death.

Baltimore police also said Billingsley, 32, is also a person of interest in an attempted murder, rape, and arson incident that occurred earlier this month, according to the Associated Press.

Billingsley was paroled last year in an earlier sexual assault case, the AP reported, with court records showing he pleaded guilty to first-degree sex assault in 2015.

The Hill has reached out to Baltimore Police Department for comment and more information.

LaPere, a Johns Hopkins University graduate, founded tech startup EcoMap Technologies while she was still in school.

EcoMap Technologies uses technology to curate data and make information more accessible across social ecosystems. The company’s clients includes Meta and The Aspen Institute.

Family and friends held a vigil for the 26-year-old tech entrepreneur, with many remembering her as someone who shifted her focus to building within her community and saying her entrepreneurship created meaningful social change.

LaPere was named to the Forbes Magazine 30 under 30 list earlier this year for social impact.

“She knew what she wanted to accomplish and there was nothing that would get in her way,” LaPere’s father, Frank LaPere, told those in attendance at her vigil Wednesday night, according to the Associated Press.

The Associated Press contributed to this report.

Costco is selling gold bars and they are selling out within a few hours


Costco is well-known as a place to get bargain prices on any variety of items, from food to luggage to appliances to gold bars.

Wait, gold bars?

Yes, the retail warehousing giant is your one-stop shop for 1 ounce gold PAMP Suisse Lady Fortuna Veriscan bars, handsomely detailed and ready for purchase.

They’re available for the bargain price of … well, you have to be a member to know that, but apparently they were selling for a little shy of $1,900 recently, according to chatter on Reddit. Spot gold most recently was going for $1,876.56 an ounce as of Wednesday afternoon.

Regardless of the price, gold is selling like hotcakes, judging by comments Tuesday from Costco Chief Financial Officer Richard Galanti. Speaking on the company’s quarterly earnings call, Galanti said the bars are in hot demand and don’t last long when in stock.

“I’ve gotten a couple of calls that people have seen online that we’ve been selling 1 ounce gold bars,” he said. “Yes, but when we load them on the site, they’re typically gone within a few hours, and we limit two per member.”

Costco is selling 1 ounce gold bars.


A couple of important points from that thought: The bars indeed are only available online, and only if you’re a Costco member, which costs either $120 or $60 a year, depending on which program you pick. The retailer also is limiting the purchases to two to a customer, meaning it would be pretty hard to build a position that would lead to financial security.

At the very least, though, it’s an effective promotion and one that could appeal to a certain sector of Costco’s shopping clientele, said Jonathan Rose, co-founder of Genesis Gold Group.

Rose noted that the company seems to have accelerated its offerings of dried foods and other survivalist goods at a time when worries about the future are running high. For example, the company markets a 150-serving emergency food preparedness kit that could come in handy, you know, just in case. Gold meshes with that type of product.

“They’ve done their market research. I think it’s a very clever way to get their name in the news and have some great publicity,” he said. “There is definitely a crossover of people living off the land, being self-sufficient, believing in your own currency. That’s the appeal to gold as a safe haven as people lose faith in the U.S. dollar.”

Stock Chart IconStock chart icon

Gold futures, last 5 years

Precious metals have been on a run over the past several years. Gold has risen more than 15% over the past year and more than 55% over the past five years.

With inflation still elevated, banks under the gun from a regulatory standpoint and looming issues in the commercial real estate market, the safe-haven aspect of gold and silver should be strong, Rose said.

“We know what the road map looks like: Bank failures, commercial loans defaulting at an alarming rate … they don’t seem to have a handle on inflation, and that’s why they keep raising interest rates,” he said. “The outlook for stability in the market isn’t good and people want a [tangible] asset that’s going to be a safe haven. That’s what gold and silver provide.”

A recession is coming and investors should be defensive, TCW CEO says


Katie Koch, CEO, the company with over $210 billion in assets under management, told CNBC’s Delivering Alpha conference that a recession was inevitable. We haven’t experienced a real recession in over a decade-and-a-half. “

While Wall Street has been bracing for a contraction for much of the past two years, the U.S. economy has stayed afloat due largely to a resilient consumer flush with cash and a labor market that has remained powerful.

However, Koch said the Federal Reserve’s interest rate hikes targeted at slowing the economy and bringing down inflation will start to bite. The timing and impact of higher rates is unpredictable and depends on many factors. We haven’t felt the impact of higher interest rates yet, but they are coming. She also spoke favorably of agency debt, mortgage-backed securities and Treasurys, as well as companies that have longer-duration capital. Koch also spoke favorably of mortgage-backed securities, Treasurys and agency debt. She also praised companies with longer-duration equity. Learn more about CNBC’s Delivering Alpha

investor summit here


FAA closes investigation into Blue Origin rocket failure, requires 21 'corrective actions'


The moment of the anomaly during the New Shepard cargo mission NS-23, in which the booster’s engine failed.

Blue Origin

The Federal Aviation Administration closed its investigation into last year’s failed flight of a cargo mission by Jeff Bezos’ Blue Origin, the regulator announced Wednesday.

Blue Origin is required by the FAA to “implement 21 corrective actions,” the regulator said in a statement. The FAA noted that Blue Origin will not be clear to launch New Shepard until after Blue Origin implements “all corrective actions that impact public safety” and receives an updated launch license.

“We’ve received the FAA’s letter and plan to fly soon,” a Blue Origin spokesperson said in a statement.

The 21 required actions include the “redesign of engine and nozzle components to improve structural performance during operation as well as organizational changes.” The FAA did not comment further on specifics of the corrections.

In September 2022, the company’s New Shepard rocket was flying a cargo mission when it suffered a failure. Blue Origin had said earlier this year that the problem was caused by an overheated component in the nozzle of the rocket engine. No people were onboard, as the NS-23 mission was carrying science and research payloads.

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Blue Origin said its investigation found that NS-23 flight’s engine failure was due to “operational temperatures that exceeded the expected and analyzed values of the nozzle material.” The company found “clear evidence” of thermal damage to the BE-3PM’s engine nozzle due to increased operating temperatures. The New Shepard rocket launched from Blue Origin’s West Texas private facility, carrying people and cargo above 100 km, or 340,000 feet. It lasted for two minutes in weightlessness. The capsule flies autonomously with no pilot and floats to the ground with the help of parachutes in the Texas desert. Blue Origin said in March that they expect to fly New Shepard “soon.” Blue Origin has said since March that it expects to return New Shepard to flight “soon.”

They Wanted a House in the City for $1 Million. Would They Find It in Brooklyn or Queens?


Danielle McCullough, a Manhattan resident who is originally from Baltimore, moved to East Harlem shortly before Covid struck. It reminded Dr. McCullough of her Baltimore home. The apartment, which had two bedrooms and two bathrooms, cost $3,400 per month. It also included space for Penny, her beagle. She had previously spent eight years in hospital housing on the Upper East Side, first as a medical student and then as a resident in anesthesiology.

Dr. McCullough was in a relationship with Lorne, who she met online. McCullough is now 38 years old. She said, “It was a couple who looked very different on paper and yet we had this deep soul connection.” Behrman was a 48-year-old musician and copywriter, originally from California. He had been divorced several years. He was paying $1,750 per month for a rental in Midwood, Brooklyn. “I knew Danielle would be the one. My heart opened. When Dr. McCullough grew up, her family was constantly moving and money was scarce. She said that part of her ambition to be successful was to have a secure home that she owned. The couple briefly considered Westchester where Mr. Behrman’s daughter lived with her mother. However, the area did not feel right. They were feeling overwhelmed and pessimistic, Mr. Armstrong explained. “But Danielle had been pre-approved for a physician mortgage” — which allows for a low down payment — “so I knew they were in good shape.”

With a budget of up to $1.2 million, the couple dreamed of finding a three-bedroom house “where we could spread out and make noise and be a family,” Mr. Behrman said, with a grassy yard for the dog and a reasonable commute on public transportation to Dr. McCullough’s Upper East Side hospital.

Find out what happened next by answering these two questions:

Putin meets Chechen leader Kadyrov after storm over prisoner beating comments


(c) Reuters. Sputnik/Mikhail Metzel/Pool via REUTERS


(Reuters) – Russian President Vladimir Putin met Chechen leader Ramzan Kadyrov on Thursday, a state television reporter said. This was three days after Kadyrov had told reporters that he was proud of his 15-year old son for beating up a prisoner accused of burning the Koran. Sputnik/Mikhail Metzel/Pool via REUTERS


(Reuters) – Russian President Vladimir Putin met Chechen leader Ramzan Kadyrov on Thursday, a state television reporter said, three days after Kadyrov said he was proud of his 15-year-son for beating up a prisoner accused of burning the Koran.

A short video clip posted by TV reporter Pavel Zarubin showed the two men exchanging opening remarks, with no reference to the beating episode that drew condemnation even from some pro-Kremlin hardliners.

Putin said that there was a “positive dynamic” in Chechnya, largely thanks to Kadyrov and his team. Kadyrov was shown handing him some papers from a file.

Putin has allowed Kadyrov free rein to run the southern Muslim region as a personal fiefdom in return for keeping it stable and loyal following wars in the 1990s and 2000s in which it tried to break away from Moscow.

Kadyrov has cultivated the image of a ruthless Putin ally and an aggressive cheerleader for Russia’s war in Ukraine, but some commentators suggested he had crossed the line this week by endorsing the attack by his son Adam on prisoner Nikita Zhuravel.

He posted a video showing the younger Kadyrov punching and kicking Zhuravel as the prisoner cowered in a chair, and said he was proud of his son for acquiring “adult ideals of honour, dignity and defence of his religion”.

The alleged Koran-burning did not take place in Chechnya but Russian investigators said they transferred Zhuravel to Chechen custody because Muslims there saw themselves as victims of the incident.

The beating opened up Putin to accusations that he had handed over an ethnic Russian “to be devoured by the Chechens”, former Kremlin speechwriter Abbas Gallyamov, now a harsh Putin critic, said this week. Even pro-Kremlin war commentators described the episode as an outrage.01001010Kadyrov, 46, has been the subject of intense speculation over his health, with rumours swirling this month that he was dead or in a coma. He published a Telegram post last week saying that he is fine and that the reason he went to a Moscow Hospital was to see his uncle who was sick. 01001010

Ronald Acuña Jr. becomes charter member of historic 40/70 club


Few things in baseball are more rare than a 40/40 year. Four players in history have consistently displayed elite power and speed

and while remaining healthy to hit 40 homeruns and steal 40 base. None of these four players has been active since 2006. Ronald Acuna Jr. joined the 40/70 club with a leadoff homer against the Nationals on Friday. Acuna stole 2 bases on Wednesday against the Cubs. This brought him to 70 steals for the year, and put the Braves star in an even more exclusive club: the 40/70 Club. Alex Rodriguez, who was a member of the 40/40 group in 1998, had the previous record for the most steals. After slowing down during the first half of the second season, Acuna suddenly turned it on in September. His 40th home run came via his 10th September home run, tying Acuna with Brave Matt Olson as the most for the month. But this is only the beginning. He was able to create his own team earlier this year by becoming the first to hit 30 homers and steal 60 base in a season. Acuna reached that milestone on the strength of a four home run week, which included a grand slam at his wedding. Acuna is also the first National League player in history to achieve 40/40 and win AL MVP honors while leading the A’s to the World Series. Ronald Acuna Jr., a Braves player, becomes the inaugural member of the 40-70 club1988 – Jose Canseco (Oakland Athletes)

: 42 HRs, 40 SBs

1988 – Jose Canseco was the first to achieve the 40/40 feat and win the AL MVP while leading the A’s to the World Series. Canseco had a rare combination of speed and power in baseball. He achieved the first 40/40 in MLB history. He also led the AL with a slugging rate of.390 and hit over.300 only once in his career. Canseco was named American League MVP and helped the Athletics to the World Series. The Athletics lost the series to Los Angeles Dodgers 4-1.

1996: Barry Bonds,

San Francisco Giants

: .308/.461/.615/1.076; 42 HR, 40 SB

Barry Bonds has a lot of records, but the first half of his career saw an elite power-speed combination that younger fans who saw him break home-run records were not privy to. Bonds had 42 home runs and 40 steals in 1996. This was the third time he’d ever reached 40 or more. Bonds was not able to make the top three of the MVP voting despite having the second season ever with 40 longballs and 40 steals. The dynamic outfielder had to meet a higher standard after winning MVP awards in 1990, 1992, and 1993.

Despite his incredible play, the Giants finished in last place in the NL West and missed the playoffs, a likely reason he failed to garner more MVP support.

1998: Alex Rodriguez, Seattle Mariners: .310/.360/.560/.919; 42 HR, 46 SB

The all-time stolen base leader in 40/40 seasons, Rodriguez topped 40 steals for the first and only time in his career when he swiped 46 bags to go along with swatting 42 big flies. Those numbers helped A-Rod earn MVP votes for the second time in his career but he somehow finished just ninth in the voting despite also leading the AL in hits for the season (213) as well as being top-five in RBI (124), total bases (384), runs scored (123) and extra-base hits (82).

However, despite his greatness, Rodriguez and the Mariners finished under .500 and failed to qualify for the playoffs. The Mariners’ failure to qualify for the playoffs is a surefire explanation. It was also his only season with Washington, and his 46 home runs are still the franchise record for a single season. Soriano also surpassed 40 long balls for the first time in his career and 35 big flies was the last time. It was also the final time that he had 40 stolen bases. All those numbers and his franchise record, however, were not enough to garner MVP support — as like the teams of two previous 40/40 players, the Nationals didn’t make the playoffs and finished in last place in the NL East.2023: Ronald Acuna Jr., Atlanta Braves: .336/.414/.596/1.010; 42 HR, 71 SB (on-pace stats)

Through 155 games: .336/.414/.596/1.010;

41 HR, 70 SB

As mentioned above, Acuna slugged his 40th homer last Friday and swip Get more from Major League Baseball

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GameStop names Ryan Cohen as CEO effective immediately


GameStop Chairman Ryan Cohen.

Source: CNBC

GameStop said Thursday morning that billionaire activist investor Ryan Cohen would take over as the video game retailer’s chief executive.

Shares of the company jumped nearly 10% in premarket trading following the announcement. GameStop was part of the meme stock craze of 2020 and 2021.

GameStop said Cohen wouldn’t receive any compensation for his work as the company’s CEO, president and executive chairman.

The move comes more than three months after GameStop fired CEO Matthew Furlong while making Cohen executive chairman. GameStop didn’t give a reason for the dismissal at the time.

Cohen, who founded pet food retailer Chewy and has become known as the “king” of meme stocks, bought a stake in GameStop in 2020 and joined the board in 2021 – during the height of the meme phenomenon.

Since then, the business hasn’t shown many signs of a turnaround, albeit with some exceptions. Earlier this month, GameStop reported its second-quarter financial results, posting a narrower loss than it did a year ago, as well as a slight increase in revenue.

Read the release here.

Trump seeks UAW endorsement while criticizing EVs, Biden in Michigan


Former U.S. President Donald Trump speaks during an autoworker-focused campaign rally at auto supplier Drake Enterprises, on Sept. 27, 2023 in Clinton Township, Michigan.

Michael Wayland / CNBC

CLINTON TWP., Mich. – Former President Donald Trump attempted to woo blue-collar autoworkers Wednesday night by criticizing electric vehicles and warning of the unsubstantiated demise of the U.S. auto industry, as he asked United Auto Workers members to encourage union leaders to endorse him.

“Tell your UAW leaders — no problems with them — but they have to endorse Trump,” he said Wednesday night during an auto worker-focused rally at a nonunion auto parts supplier in suburban Detroit.

Trump, the front-runner among Republicans in the 2024 presidential race, many times encouraged the UAW to endorse him during the roughly hour-long speech. He did so by mocking President Joe Biden and promising to save the U.S. automotive industry from what he described as being wiped out in the coming years due to current Democrat policies, including a push for EVs.

At one point, Trump said he doesn’t mind EVs, but he believes consumers should be able to choose between such vehicles as well as traditional gasoline and diesel models. He condemned Biden’s goal to have half of new vehicles sold by 2030 be EVs as well as the auto industry’s current dependency on China for batteries and other components.

Former U.S. President Donald Trump speaks during an autoworker-focused campaign rally at auto supplier Drake Enterprises, on Sept. 27, 2023 in Clinton Township, Michigan.

Michael Wayland / CNBC

“If you want to buy an electric car, that’s absolutely fine. I’m all for it,” Trump said. “But we should not be forcing consumers to buy electric vehicles they don’t want to buy.”

Trump’s visit occurred as the UAW continued targeted strikes against General Motors, Ford Motor and Stellantis. The sides failed to reach tentative agreements by an 11:59 p.m. Sept. 14 expiration of contracts for 146,000 UAW members with the Detroit automakers.

Currently, about 18,300 UAW members with the Detroit automakers are on strike, with the union warning of additional strikes without substantial progress in the talks by Friday.

Trump mentioned the striking union workers and negotiations several times during his speech, largely focused on how the negotiations won’t matter if the auto industry gets wiped out.

“It doesn’t make a damn bit of difference what you get because in two years you’re all going to be out of business,” Trump said.

A UAW spokesman declined to comment on Trump’s remarks after the event, which the former president attended instead of the second GOP debate.

UAW President Shawn Fain heavily criticized Trump and his visit to Michigan after appearing with Biden on a UAW picket line Tuesday afternoon in suburban Detroit.

The outspoken union leader previously denounced Trump’s track record with automotive unions and criticized the fact that Trump’s Wednesday visit would be at a nonunion company called Drake Enterprises.

“I find a pathetic irony that the former president is going to hold a rally for union members at a nonunion business,” Fain said in an interview Tuesday night on CNN. “All you have to do is look at his track record — his track record speaks for itself.”

While the UAW has historically supported Democrats, including Biden in 2020, Fain is withholding the union’s reendorsement of the president, who has touted himself as the “most pro-union president in American history, over concerns about EVs.

Fain, on the picket line with Biden at the Willow Run Redistribution Center, called the president joining the picket line a “historic moment.” But he did not officially endorse the commander-in-chief for next year’s presidential election.

Fain has repeatedly said he believes another Trump presidency would be a “disaster,” but the former president has won the support of many rank-and-file union members.

Brian Pannebecker, a retiree who worked more than 30 years at Chrysler and Ford, is an avid Trump supporter. He said the UAW and autoworkers should support Trump because of his past trade policies and stance on EVs.

“Donald Trump would not be pushing this EV kind of mandate on the companies or on the consumers,” he said at the Wednesday rally.

Newsom on second GOP debate: Biden was the 'big winner' tonight


California Gov. Gavin Newsom, a Democratic candidate for president of California, declared in an interview with Fox News on Wednesday night that the ‘Biden agenda’ had won the second GOP primary debate. Joe Biden not only has identified solutions but he’s also gotten them through in a bipartisan manner to address many of the issues that the Republicans raised. Newsom added that Biden was “honestly the big winner” tonight.

McCarthy revives immigration battles in bid to shift shutdown blame from GOP feuds


Speaker of the House Kevin McCarthy, R-Calif., talks to reporters following a House Republican caucus meeting at the U.S. Capitol on Wednesday.

Chip Somodevilla/Getty Images

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Speaker of the House Kevin McCarthy, R-Calif., talks to reporters following a House Republican caucus meeting at the U.S. Capitol on Wednesday.

Chip Somodevilla/Getty Images

Days ahead of a possible government shutdown, House Speaker Kevin McCarthy is trying to shift the conversation away from internal party divisions — toward the Biden administration’s handling of the southern border.

In recent days McCarthy, R-Calif., has repeatedly sidestepped reporters’ questions about the House’s plans to keep the lights on at federal agencies and whether he would work with Democrats on any spending plan. Instead, he is insisting that a short-term stopgap spending measure to keep the government funded include Republican-passed border policies.

But that stopgap measure is a nonstarter in the Senate, and right now it’s not even clear House Republicans can even get it across the finish line later this week.

Citing statistics saying 11,000 migrants are entering the U.S. illegally each day, McCarthy has argued that the president and Senate Democrats have ignored the situation at the border. He points out that Democratic officials in New York and other states have expressed concern about the recent influx of migrants, and that President Biden is ignoring their calls for help.

McCarthy is calling on the president to take action, but it’s Congress’ role to approve annual funding bills, and the speaker has struggled to get enough votes to bring up their party’s own proposals. The House did agree to move forward on four appropriations bills this week, but none of those are expected to advance in the Senate, and none would avoid a shutdown.

Arkansas Rep. Steve Womack said he and other McCarthy allies want to keep the government open, but emphasized that in any short-term spending bill, “there’s gotta be something in it for us as well, and what we really want and what we have been begging for is the ability to get better control of our southern border. “

Senate and House GOP split

The top Senate Republican, Sen. Mitch McConnell, argued that a shutdown wouldn’t achieve what House Republicans say are the problems at the border, and defended a bipartisan bill Senate leaders unveiled Tuesday that would keep federal agencies funded through November 17.

McConnell said Wednesday “a vote against a standard, short-term funding measure is a vote against paying over $1 billion in salary for CBP and ICE agents working to track down lethal fentanyl and tame our open borders.”

He said he didn’t want to offer any advice to House Republicans, but noted that border agents would be working without pay in a shutdown “so I don’t think, even those of us who are deeply concerned about the border, I don’t think that’s more likely to happen in a shutdown than with the government open.”

The No. 3 Senate GOP leader, Wyoming Sen. John Barrasso, said Senate Republicans would work on amendments to address the increase in migration and issues related to illegal drugs. He told reporters the American people “deserve a government that is open and a border that is closed. “

West Virginia Sen. Shelley Moore Capito said she backs adding some immigration provisions to a stopgap bill, but added, “at this point right now 77 percent of the American people do not think we should shut the government down. And I’m in the 77 percent. “

McCarthy said there wasn’t support for the Senate’s plan among House Republicans. Many oppose the $6 billion in aid to Ukraine.

Florida GOP Rep. Byron Donalds told reporters that the Senate bill is a “nonstarter” and added, “the Senate needs to get real. You’ve all seen the images at the southern border. It has to stop — immediately. And this government should not continue to be funded if we don’t secure our border.”

McCarthy’s narrow margin

But as McCarthy ignores a bipartisan plan that advanced 77-19 in the Senate, he has little room for error with his own proposal. The speaker can only afford to lose four votes from his own party, and it appears already he is short. Several hardline conservatives in the House continue to oppose any short-term funding bill.

McCarthy has suggested those holdouts are siding with Biden by refusing to back a bill with increased border funding. Florida GOP Rep. Cory Mills, one of the hardliners, told reporters that is “absolutely false.”

“If they want to play politics with messaging, then by all means, let them go ahead and do that. My vote remains the same,” Mills said. “We do care about securing our borders. We’ve made that a top priority. “

Arizona Rep. Andy Biggs said the focus should remain on approving all 12 of its annual spending bills, not stopgaps.

“I choose long-term sustainability over short-term rhetoric,” Biggs said in a post on X, formerly known as Twitter.

Rep. Eli Crane, R-Ariz., and Rep. Matt Rosendale, R-Mont., have also said they oppose any continuing resolution, or “CR,” to keep agencies funded as the House and Senate negotiate on spending bills.

Tennessee GOP Rep. Andy Ogles pointed to the deal McCarthy cut in January to gain the votes to be elected speaker, which included a pledge for House votes individually on all annual spending bills.

“Now our back’s up against the wall, and we’re going to force 12 appropriations bills,” he said. “And if that means we close and that we shut down, that’s what we’re going to do.”

Many conservatives seem unmoved about the impact that any shutdown would have on federal workers or those who rely on federal assistance. McCarthy on Tuesday redirected questions about workers concerned about furloughs again to border concerns.

Rep. Ralph Norman, R-S.C., shrugged off a report that millions of women could lose aid from the Women, Infant and Children nutrition program if the government shuts down:

“OK yeah, you hear all that. Granny’s going over the cliff. What about the country going to the cliff?” he said. “That’s ludicrous. I’ve heard that song and dance all over again. They’re going to use that, any cut.”

The government shutdown in 2018 was also triggered because of a fight over the border. At the time, former President Trump was insisting that any spending bill include money to build a wall along the southwest border. He refused to support a bill that didn’t meet that demand. After a record 33 days, the president gave in and agreed to a bill to reopen the government without any new funding for the wall.

McCarthy could avoid a shutdown if he chose to work across the aisle with Democrats to approve a stopgap bill, and there continue to be some discussions with group of moderate House Republicans and Democrats about a proposal to avoid a shutdown, or get out of one.

Rep. Mike Lawler, R-N.Y., represents a suburban district that Biden won in 2020, and has been part of those bipartisan talks. For now he’s backing the speaker’s strategy and says the biggest issue facing the country right now is immigration and the Biden strategy has failed. But he warned if his fellow House Republicans don’t stand together they will get blamed for a shutdown, “all I can do is encourage my colleagues to be smart, to be strategic and to understand that you can’t win with nothing.”

McCarthy could face threat for his gavel

Hanging over the speaker as the deadline when millions of federal workers will be furloughed and stop getting paid is a threat that if he cuts a deal with Democrats one of his critics will bring up a resolution to oust him from his job.

Florida GOP Rep. Matt Gaetz reiterated that threat again on the House floor on Tuesday, but McCarthy shrugged it off. But his move to shift the blame to the president about a funding fight he’s unable to resolve among his own members demonstrates his focus for now is on keeping his position.

Womack, an ally of McCarthy’s, admitted the chance of a leadership challenge from the critics on the far right is real, saying, “negotiating with Democrats and negotiating with even some Senate Republicans can be problematic for the speaker. “

Stock market sell-off means these shares are forming the dreaded death cross pattern


AstraZeneca, Bristol Myers Squibb to participate in Medicare drug price negotiations


In this photo illustration, Farxiga is made available to customers at the New City Halsted Pharmacy on August 29, 2023 in Chicago, Illinois.

Scott Olson | Getty Images

AstraZeneca, Bristol Myers Squibb and Boehringer Ingelheim on Wednesday told CNBC they will agree to participate in the first round of Medicare drug price negotiations, even after all three drugmakers sued to halt the process last month.

AstraZeneca’s Type 2 diabetes drug Farxiga, Boehringer Ingelheim’s own diabetes drug Jardiance and Bristol Myers Squibb’s blood thinner Eliquis are among the first 10 drugs selected for price talks with Medicare. These three companies are the first to say that they’ll comply with negotiations to reduce the cost of prescription drugs to older Americans.

Manufacturers of the other seven drugs selected have until Oct. 1 to sign an agreement to participate in the process. Those companies did not immediately respond to CNBC’s request for comment about their intentions.

“We remain committed to ensuring patients have access to FARXIGA and plan to participate in the process outlined by CMS to communicate the value of FARXIGA to people covered by Medicare,” AstraZeneca said in a statement to CNBC, referencing the Centers for Medicare and Medicaid Services.

Boehringer Ingelheim, which is privately held, said in a statement it is “committed to engaging in open and transparent conversations” with CMS.

A spokesperson for Bristol Myers Squibb said the company has “no choice other than to sign the ‘agreement. Bristol Myers Squibb spokesperson said the company has “no choice but to sign the ‘agreement’. That is not a real choice,” the spokesperson said.

If drugmakers decline to engage in the negotiations, they could be forced to pay an excise tax of up to 95% of their medication’s U.S. sales or to pull all of their products from the Medicare and Medicaid markets, according to CMS.

Bristol Myers, AstraZeneca, Boehringer Ingelheim and other drugmakers like

Johnson & Johnson and Merck have filed at least eight separate lawsuits in recent months seeking to declare the negotiations unconstitutional. A lawsuit filed by the Chamber of Commerce – one of the largest lobby groups in the country – seeks a preliminary order to stop the negotiations. The pharmaceutical industry is opposed to the process, as it fears that it will harm its profits, revenue growth and drug innovations. Analysts expect minimal financial losses, initially, for companies. Most of the drugs chosen already have upcoming patent expirations, which are likely to impact revenue. For example, Farxiga’s market exclusivity will end in 2026. This will allow generic alternatives on the market. The Inflation Reduction Act passed Congress narrowly along party lines last year, allowing Medicare to negotiate drug price for the first in its six-decade-long history. The law was a major win for the Democratic Party and a key part of the Biden administration’s effort to control rising drug costs.

How surging trade with China is boosting Russia’s war


Chinese firms are playing an increasingly critical role in supplementing Russia’s struggling economy and boosting its military capabilities, including via the trade of goods for use on the battlefield in Ukraine, new analysis by CNBC shows. 

Russian customs data filed as recently as August 2023 point to the continued import of drones, helmets, vests and radios from China, providing a lifeline for President Vladimir Putin’s over 18-month war of attrition, and a lucrative avenue for Chinese companies. 

At the same time, the emergence of less widely documented Chinese exports that are ostensibly for civilian use, including vehicles, construction equipment and synthetic materials, are providing direct and indirect support to Russia’s war efforts, analysts told CNBC.

“I think there’s no question that the Chinese authorities are aware of the trade flows. They’re large enough that they could not continue without the acquiescence of the Chinese government,” Mark Cancian, senior advisor at Washington-based think tank the Center for Strategic and International Studies, said.

Russian President Vladimir Putin and China’s President Xi Jinping shake hands after delivering a joint statement following their talks at the Kremlin in Moscow on March 21, 2023.

Mikhail Tereshchenko | Afp | Getty Images

The defense ministries of China and Russia did not respond to CNBC’s request for comment on the trade flows.

This trade is happening despite insistence from Beijing that its trade with Moscow constitutes “normal economic cooperation” and that it targets no “third party.” Last week, Chinese Foreign Minister Wang Yi confirmed China’s continued business cooperation with Russia ahead of a planned meeting between Russian President Vladimir Putin and Chinese leader Xi Jinping in October.

The comments follow the release in July of a U.S. intelligence report stating that China “has also become an increasingly important buttress for Russia in its war effort, probably supplying Moscow with key technology and dual-use equipment used in Ukraine.”

Examples of goods supplied included navigation equipment, jamming technology and fight jet parts, it said. 

Indeed, Kyiv has reported that its forces are increasingly finding Chinese components in weapons used by Russia’s military since April 2023 – the same month that Putin and Li Shangfu, the Chinese defense minister at the time, reiterated their countries’ “no limits partnership.” 

Ukraine’s Defense Ministry and the general staff of the Ukrainian Armed Forces did not immediately respond to a request for comment on the battlefield findings.

Trade of ‘dual-use’ goods spikes

Total bilateral trade between Russia and China hit a record high of $190 billion in 2022, up 30% from 2021. This year is set to eclipse that figure, with total trade hitting $134 billion in the first seven months of 2023.

China now accounts for around half (45%-50%) of Russia’s imports, up from one-quarter before the war, according to estimates from the Bank of Finland’s Institute for Emerging Economies. That includes trade of so-called dual-use items and technologies – goods with both civilian and military applications, such as drones and microchips.

In 2022, China sold more than $500 million worth of semiconductors to Russia, up from $200 million in 2021. Meantime, China sold more than $12 million worth of drones to Russia in the year to March 2023.

Semiconductor sales to Russia from China and Hong Kong more than doubled in 2022 as Western sanctions took hold.


CNBC analysis of Russian declarations and certificates of conformity filed to the Federal Accreditation Service — a prerequisite for the import and sale of goods in the country — showed the trade of such goods between Russian and Chinese companies from the onset of Moscow’s full-scale invasion of Ukraine in February 2022 to present. Such declarations are filed by the buyer rather than the maker of the goods.

Drones produced by Chinese multinational SZ DJI Technology were registered in Russia in unspecified volumes on various occasions between September 2022 and January 2023 — with imports stemming both directly from the company and indirectly from Chinese exporters including Shenzhen-based Autel Robotics and Iflight Technology — translated filings showed.  

That is despite DJI issuing a statement on its website in April 2023, saying that it had “voluntarily suspended all sales to and business in both Russia and Ukraine as of April 26, 2022 and contractually forbid any sales by dealers to either country and for combat use.”

A DJI Inspire 1 Pro drone is flown during a demonstration at the SZ DJI Technology Co. headquarters in Shenzhen, China, on Wednesday, April 20, 2016.

Qilai Shen | Bloomberg | Getty Images

When contacted by CNBC, a DJI spokesperson said: “We take regulatory compliance very seriously, and we have taken all steps in our control to emphasize that our products should not be used in combat to cause harm or be modified to be turned into weapons.”

One of the importers of the drones, Moscow-based Nebesnaya Mekhanika, which roughly translates as “Heavenly Mechanics” and which, before the war, was DJI’s official distributor in Russia, submitted its filing in September 2022, the documents showed

Another importer, Moscow-based Vodukh, also registered an unspecified number of lithium ion and lithium polymer batteries and an unknown number of battery stations directly from DJI in Jul. 2023 and Nov. 2022, respectively, according to the records. Such items can be used to power goods ranging from small electronic devices to electric vehicles.

A third, Rostov-on-Don-registered Pozitron, additionally imported more than 54,000 helmets — either construction or military, according to the vague wording of the filing — from Chinese suppliers Liaoning B&R Technology and Beijing KRnatural International Trade Co in late 2022.  

What we are seeing is that Chinese companies are selling to Russia what they maybe can’t sell in China or the West at a higher price.

Antonia Hmaidi

analyst at the Mercator Institute for China Studies

Defense analyst Cancian said it was apparent that such goods have been a critical facet of Russia’s military arsenal.

“They (Russia) have been firing, for example, artillery at the rate of 10,000 to even 20,000 rounds a day. To keep up that level of expenditure, they need to get some help from the outside,” he said.

“They also started running out of cruise missiles. Their stocks were pretty much exhausted within the first six months or so, so they’ve been able to manufacture additional cruise missiles with components provided by the Chinese,” he added.

Helmets and vests were also procured in batches of 100,000 each in Nov. 2022 from Shanghai-headquartered Deekon (Shanghai) Industry Co., a manufacturer of military products and police equipment, by Moscow-based Legittelecom, the documents showed. 

Legittelecom, which, according to its website, provides consulting services on permits for the “import, export and sale of radio electronics and high-frequency devices,” also imported an unknown number of portable radios, or walkie-talkies, from wireless communications company Hong Kong Retekess in March 2023.  

It was not clear from the documents if Legittelecom was the end user of the products, or to whom it was providing the permits, though Chinese-made radios have been recovered from Ukraine’s battlefield. The companies did not respond to CNBC’s request for comment on the transactions.  

However, analysts said the irregular import patterns suggest there is opportunism among businesses on both sides as they seek to take advantage of Moscow’s military needs.  

A Russian military radio produced by Chinese manufacturer Baofeng is displayed during an open-air exhibition of destroyed Russian military equipment and tactical gear on June 15, 2023 in Kyiv, Ukraine.

Global Images Ukraine | Getty Images

“What we are seeing is that Chinese companies are selling to Russia what they maybe can’t sell in China or the West at a higher price,” said Antonia Hmaidi, an analyst at Berlin-based Mercator Institute for China Studies, who has been studying Chinese dual-use exports to Russia since the start of the war.

“It’s not the big exporters in China exporting this. Instead, it’s these small companies,” she continued, noting that the implications of Western sanctions targeting such companies would be minimal. “The companies, they don’t really have a lot of inherent value, which makes it quite easy to just open another one.” 

Indeed, one company, Silva, was registered in the remote Eastern Siberian region of Buryatia in September 2022, and submitted import filings for 100,000 helmets from Shanghai H-Win New Material in March 2023. More recently, in August 2023, it filed for an unspecified number of radio telemetry systems, which can be used for tracking drones, from Hubei Jingzhou Mayatech Intelligent Technology. 

Hmaidi cited another example of a Hong Kong company, established in 2020, which used to supply North Korea and has now added Russia to its books. Pyongyang, for its part, has been strengthening ties with Moscow, with the countries’ leaders meeting in Russia’s far eastern Amur region earlier this month amid Western suspicions that North Korea may be readying to provide Russia with war materiel.

CNBC contacted or attempted to contact all of the companies mentioned and received no response.

‘Underappreciated’ trade flows  

As well as goods with overt military applications, Russia has also increased it imports of Chinese goods with potential direct and indirect war implications, according to analysts. 

Chinese shipments to Russia of Aramid fiber, for instance, a class of heat-resistant synthetic fibers whose applications range from bicycle tires to bulletproof vests, rose more than 350% in dollar value terms in 2022 versus 2021, according to data compiled for CNBC by ImportGenius, a customs data aggregator. In January and February of 2023 alone, imports were close to 50% of 2022’s full-year total.

Meantime, construction equipment has played an “underappreciated” but significant role in China’s contribution to Russia’s war efforts, having helped bolster its defenses against Ukraine’s counteroffensive, Joseph Webster, senior fellow at the Atlantic Council, said. 

“Excavators and front-end shovel loaders are one of the most significant and frankly underappreciated aspects of China’s engagement with the war in Ukraine,” said Webster, who has studied the surge in such exports. 

There was a massive increase in trench digging equipment to Russia … and that’s almost certainly not a coincidence.

Joseph Webster

senior fellow at the Atlantic Council

“There was a massive increase in trench digging equipment to Russia at a time when the Russian military forces were digging trenches. And that’s almost certainly not a coincidence,” he added. 

Russian imports of Chinese earth-moving front-end shovel loaders were almost two times higher, and imports of excavators more than three times higher, in the first seven months of 2023 than during the same period a year prior, trade data showed.  

Imports of Chinese heavy-duty trucks more broadly were up 11 times in value terms between January and May 2023 compared to the same period in 2021, with some identified on the battlefield and others used indirectly. 

In June, a video featuring the head of Russia’s Chechen Republic, Ramzan Kadyrov, was shared on his official Telegram social media account.  In it, he showcases various armored vehicles, including armored personnel carriers that appear to be Chinese “Tiger” vehicles, that he said were being deployed to Russia’s so-called special military operation in Ukraine.

A general view of the container terminal in Qianwan of Qingdao Port, a port in Shandong Province, China, March 17, 2023. 

CFOTO | Future Publishing | Getty Images

“Even if the Chinese exports aren’t directly on the front lines, they’re still providing important economic assistance to Russia,” said Webster, suggesting that the added fleets could have significant implications in allowing Moscow to balance manufacturing output essential to both its civilian and military populations. 

“Because Chinese truck exports have supplied the Russian civilian sector with trucks, Kamaz might be able to repurpose production lines for armored vehicles,” Webster said of Russia’s sanctioned, state-owned truck manufacturer.

Chinese government collusion?  

The findings add to the growing list of Chinese goods and companies reported to be supplying Russia’s military, including state-owned enterprises. 

The U.S.’s July intelligence report cited state-owned China Taly Aviation Technologies and China Poly Technologies among the companies found to be providing Kremlin-linked defense companies with parts, including for Mi-system helicopters found on the frontlines.

When asked to comment on the intelligence report and the trade of dual-use goods, China’s commerce ministry referred CNBC to its May response to a similar question, in which it dubbed its trading relationship with Russia as one based on “mutual respect and mutual benefit, in which both win.” 

“The Chinese department in charge has made clear China’s position on the Ukraine issue on many occasions: China will not add fuel to the fire, let alone take advantage of (the situation),” the ministry added, according to a translation.  

It follows prior comments from the foreign ministry in April, which said that China would “not provide weapons” to either side in the war, and that it would “control the exports of dual-use items in accordance with laws and regulations.”

It remains unclear to what extent Chinese authorities are aware of – or implicated in – the trade. The items being dual-use has thus far left enough room for deniability for China to avoid Western sanctions. Meanwhile, Washington and the EU have both been reluctant to accuse Beijing outright. 

The White House’s National Security Council did not respond to a request for comment on the trade flows.

However, analysts noted that there is little indication that Beijing is taking actions to mitigate the sales. 

Exporters in China who export to Russia are not going to receive penalties for doing so, so long as they don’t explicitly violate Western sanctions.

Joseph Webster

senior fellow at the Atlantic Council

“Exporters in China who export to Russia are not going to receive penalties for doing so, so long as they don’t explicitly violate Western sanctions and don’t provoke additional tensions with the West. So long as they can keep these exports quiet, they seem to be at little risk of provoking the ire of the Communist Party,” Webster said.  

Still, continued alliance with Moscow could have significant long-term consequences for China’s slowing economy. Already, the U.S. and several Western allies have restricted the trade of certain sensitive technologies to China as part of a wider de-risking, or diversification, away from Beijing amid national security concerns.

“China would prefer for Russia not to lose, but they would prefer not to get involved,” Hmaidi said. “There could be arguments to send weapons, and there has been intelligence around maybe they want to send weapons. But also, they are very, very careful to stay below the sanctions.” 

Western allies now face a difficult decision: either target individual sellers knowing the impact may be limited or take action against Beijing with potentially wider repercussions and risks of retaliation.  

“If China were to openly support Russia, there would be huge ramifications for the totality of Beijing’s economic, political and security relationship with the Washington- and Brussels-led alliance of democracies,” Webster said. 

— CNBC’s Evelyn Cheng and NBC’s Yuliya Talmazan contributed to this report.

Granular Details Spell Success For Brooklyn’s Refinery At Domino


All over the U.S., developers, architects, environmentalists, history buffs, employers, renters, homeowners and countless others are coming to one realization. Few projects have the ability to transform urban environments like adaptive reuse. The adaptive reuse method is a sustainable way to create new developments. This method also saves developers from the costs of demolishing old buildings. It allows older buildings that have been vacant for many years to be put back into use. Because structures built before 1950 were built for a much less automobile-dependent society, adaptive reuse projects tend to restore density and encourage walking within the districts where they’re located.

Adaptive reuse also allows urban areas to retain historic character and a sense of place. And for an office tenant or a home buyer, work or home life in a converted building confers a whole different and authentic kind of ambience.

Sweet project

For these reasons and still others, many eyes have been focused on Brooklyn’s Williamsburg waterfront, where a one-time Domino sugar factory has been transformed through adaptive reuse into a new property called The Refinery at Domino. The 460,000-square foot all-electric, Class A office building opened today, September 27. Brooklyn-based Two Trees Management, in partnership with Practice for Architecture and Urbanism’s (PAU), created a glass structure within the historic brick façade of the building. Within the building, a large-scale living landscape seamlessly links to the surrounding natural elements and greenery.

“Converting the old factory into an all-electric office building is a key part of Two Trees’ plan for Domino’s mixed-use community,” says Dave Lombino, Two Trees’ managing director, external affairs. “Our careful revitalization of the former Domino Sugar Factory into a Class A office space enabled us to create a sustainable workplace of the future, while paying homage to New York City’s rich history.”

Other examples

The Refinery at Domino takes its place alongside some of the nation’s highest-profile adaptive reuse projects. The old Michigan Central Station in Detroit will reopen in 2024, for the first time since more than 30 years.

The site, which spans over 30 acres, will feature cultural programming, stores and a place where visitors and locals can gather for special events. The California Market Center, once the heart of Los Angeles’ fashion industry, has been transformed into a new office center that spans a full city block in the district. Spanning a full city block in L.A.’s fashion district, the 1.8 million-square-foot CMC is a new kind of office center, designed to be a place where the city’s emerging technology, media, entertainment and fashion industries intersect.

Iconic landmark

The Refinery’s transition was built upon a trio of design thrusts, Vishaan Chakrabarti, founder and creative director for PAU, says.

The first was inserting a contemporary building in the sleeve of the historic structure. The second step involved creating a glass vault in the style of the American Round Arch original. A third required opening the ground floor to the park and the surrounding neighborhood of Williamsburg, Brooklyn.

“This approach has created an iconic landmark for the 21


Century, offering users natural light, luscious greenery, waterfront views and a contemporary dialogue with history that most new commercial projects lack,” he says. The Refinery, although conceived before the pandemic hit, represents a future that will offer a unique sense of place and community. This is valuable going forward.

Delta CEO says carrier went 'too far' in SkyMiles changes, promises modifications after frequent flyer backlash


Delta Air Lines Boeing 717-200 airplane as seen on the final approach landing at New York JFK John F. Kennedy International Airport, NYC, USA.

NurPhoto / Contributor

Delta Air Lines CEO Ed Bastian said the airline will make “modifications” in the next few weeks to its loyalty program after a recently announced overhaul that would make it more expensive for many travelers to earn elite status and get into airport lounges was met with a backlash from customers.

“No question we probably went too far,” Bastian said at the Rotary Club of Atlanta on Monday.

The program changes, which Delta unveiled earlier this month, would reward customers with elite status based on how much they spent, a model similar to that of American Airlines, and reduce access to Delta popular airport Sky Club lounges for many American Express cardholders.

JetBlue Airways tried to capitalize on some customers’ anger over Delta’s changes by offering frequent-flyer status matching, saying “we’ve made it easy for you to cozy up to a new loyalty program and see where it goes.”

Delta has been grappling with a surge in elite travelers, bolstered by pandemic and post-pandemic spending, and swarms of travelers trying to get into its lounges, leading to long lines for many customers. The airline and rivals including American and United have been racing to build bigger airport lounges to cater to swelling numbers of big spenders.

Bastian said the airline will announce the updated program changes in the coming weeks. A Delta spokesman declined to comment further on the changes.

“It’s gotten to the point, honestly, where we have so much demand for our premium product and services that are far in excess of our ability to serve it effectively in terms of our assets,” Bastian said.

He said that over Covid, the airline has doubled the number of Diamond Medallion status members.

David Neeleman, CEO of Breeze Airways and founder of JetBlue, told CNBC on Wednesday that he has Delta Medallion status and that he tries to use Delta’s airport lounges but that sometimes “there’s a big line and it’s not worth it.”

Delta last year announced several changes to crack down on overcrowding at the clubs, such as barring employees from using them when flying standby with company travel privileges, even if they had qualifying credit cards. The Atlanta-based carrier also raised prices for club memberships for regular customers.

Stocks making the biggest moves after hours: Micron, Peloton, Jefferies and more


The Micron Technology Inc. offices in Shanghai on April 6, 2023.

Qilai Shen | Bloomberg | Getty Images

Check out the companies making headlines in extended trading.

Micron Technology — The chip stock slid 4% in extended trading after Micron offered weaker-than-expected earnings guidance for the current quarter. Micron expects a loss per share of $1.07, while the analysts polled by LSEG (formerly Refinitiv) expected 95 cents. Elsewhere, the company posted a narrower-than-expected loss for the fiscal fourth quarter, as well as revenue that came in ahead of expectations. Current-quarter revenue guidance is also higher than analysts anticipated.

Peloton Interactive — The stationary bike manufacturer jumped 13% after the bell on news of a five-year partnership to develop content for Lululemon. Meanwhile, Lululemon added nearly 1% in extended trading.

Jefferies Financial — The bank retreated 3% after reporting fiscal third-quarter earnings of 22 cents per share on revenue of $1.18 billion, down from the year-ago period. Jefferies said this quarter’s earnings were affected by a pretax loss in the company’s legacy merchant banking portfolio.

H.B. Fuller – The chemical company’s shares fell about 1% after a weak third quarter financial report. H.B. Fuller reported $1.06 in earnings per share, excluding items, on $900.6 million in revenue, while analysts polled by FactSet forecast $1.14 in earnings per share on $954 million in revenue.

Duckhorn Portfolio — The luxury wine producer lost 2.8% after giving full-year guidance that was worse than analysts anticipated. Duckhorn stated that the full-year profit should be between 67 and 69 cents excluding items. FactSet’s consensus estimate was slightly higher, at 70 cents a share. The company forecast revenue for the full year between $420 and $430 millions, which was less than analysts’ expectations of $432.8million. The company beat analyst expectations in both areas during its fourth fiscal quarter.

Milley says he will take 'appropriate measures' to ensure safety following Trump comments


In an interview on “60 Minutes” Wednesday, Chairman of the Joint Chiefs Mark Milley said he will take “appropriate measures” to make sure he and his family are safe in the wake of recent comments made by former president Donald Trump.

Milley’s words come after a Truth Social post by the former president last week calling the chairman a “Woke train wreck” and accusing him of treason, seeming to reference calls made by Milley to China for reassurance at the end of Trump’s term.

“This is an act so egregious that, in times gone by, the punishment would have been DEATH!” Trump’s post read. This was an act so egregious that, in times past, the punishment would have been DEATH! Trump’s post read. Continue reading!! !”

“I’ve got adequate safety precautions,” the military leader said in response to a question about his concern about his safety from CBS’ Norah O’Donnell.

Former Defense Secretary Mark Esper expressed his concerns Monday about retaliation by the former president against people who he has had strife with like Milley if he returns to office, calling them “legitimate.”

“Look, I think it’s a legitimate fear,” Esper told CNN anchor Kaitlan Collins. “If you recall from my memoir … I cite a circumstance where [Trump], egged on by his close advisers, wanted to call back to active duty Adm. McRaven and Gen. McChrystal, to court-martial them, for some things that they allegedly said in in the public domain, and Milley and I had to talk the president out of doing that, for any number of reasons.”

“The president has also said that a second term would be about retribution, right? “The president has also said that a second term would be about retribution, right?

SpaceX wins first Pentagon contract for Starshield, its satellite network for military use


An uncaptioned image posted on the company’s website appears to show Starshield technology in orbit.


The Pentagon has awarded Elon Musk’s SpaceX its first confirmed contract for the Starshield network it’s developing, a military-specific version of the company’s Starlink satellite internet system, the defense agency said Wednesday.

A Space Force spokesperson confirmed that SpaceX on Sept. 1 was awarded a one-year contract for Starshield with a maximum value of $70 million. The award came alongside 18 other companies through a program run by the Space Force’s commercial satellite communications office.

“The SpaceX contract provides for Starshield end-to-end service (via the Starlink constellation), user terminals, ancillary equipment, network management and other related services,” Space Force spokesperson Ann Stefanek told CNBC.

SpaceX did not immediately respond to CNBC’s request for comment on the Starshield contract.

The company unveiled Starshield last year as a new business line. The Pentagon is already a high-value buyer of the company’s rocket launches and had shown increasing interest in its Starlink satellite internet.

SpaceX has given few details about the intended scope and capabilities of Starshield. It markets the service as the center of an “end-to-end,” dedicated offering for national security with capabilities distinct from its Starlink consumer and enterprise network.

Sign up here to receive weekly editions of CNBC’s Investing in Space newsletter.

SpaceX’s award for Starshield follows its June win of a Pentagon contract to buy an undefined number of Starlink ground terminals for use in Ukraine.

The initial phase of the Starshield contract obligates $15 million to SpaceX by Sept. 30, to provide services that support 54 military “mission partners” across Department of Defense branches, the spokesperson said.

Bloomberg first reported the contract on Thursday.

— CNBC’s Claudia Johnson contributed to this report.

Will weight loss drugs lead to less food consumption? Here's what Walmart is saying


Peloton shares soar on digital content, apparel partnership with Lululemon


Jen Van Santvoord rides her Peloton exercise bike at her home in San Anselmo, California.

Ezra Shaw | Getty Images

Peloton and Lululemon are joining forces.

The two companies announced a five-year partnership Wednesday that will bring Peloton’s content to Lululemon’s exercise app. Lululemon in turn will become Peloton’s primary athletic apparel partner, and a select number of Peloton’s instructors will become ambassadors for the apparel retailer.

The terms of the deal, and whether the two companies will share revenue, were not disclosed.

Peloton’s stock jumped more than 15% in extended trading on the news. Lululemon shares, which have a market cap of $48 billion compared to Peloton’s $1.7 billion, were flat after-hours.

Lululemon also announced that it will stop selling Mirror by the end the year. Mirror allows users to stream classes.

The company had been exploring a sale of the product after sales had come in below expectations and Lululemon was forced to take a $443 million impairment charge related to the equipment, the company said earlier this year.

Peloton’s content will now be accessible through Mirror, it told CNBC, but the fate of the Mirror device and whether the division will be sold off remains unclear.

Meanwhile sales for Peloton’s connected fitness products have steadily fallen from their pandemic-era highs, so the company has zeroed in on content as its primary value proposition.

Its partnership with Lululemon will mark the first time Peloton has shared that prized content with another company, aside from a smaller partnership with Delta Air Lines that offers meditation and movement classes for fliers.

Lululemon’s app has about 13 million members, nearly double Peloton’s total global member count of nearly 7 million. Under the agreement with Lululemon, Peloton will not have access to the members that are consuming its content.

The news comes one day after Peloton announced co-founder and Chief Product Officer Tom Cortese is leaving the company.

In May, CNBC spoke with Cortese and Peloton’s Chief Content Officer Jenn Cotter about the company’s rebranding strategy and if it has any plans to partner with other businesses to offer its content.

Cotter, the brains behind Peloton’s content machine, said “nothing’s ever off the table” but said “there’s no real need” for such a partnership.

Cortese, for his part, made it clear partnerships weren’t on the horizon — at least in the short term.

“That’s not going to happen,” Cortese replied.

“One thing that has worked very well for Peloton in the past and will continue to work very well for Peloton going forward is our direct relationship with our members. Cortese said that such a partnership was not on the horizon. It’s how we build community, and it’s how we grow our business. We have no need for an intermediary to be between us and our customers. “Cortese could not be reached immediately for comment after news of the partnership.

Why are Patriots newcomers Mike Gesicki, JuJu Smith-Schuster struggling?


It is easy to forget the New England Patriots acquired tight end Mike Gesicki, and receiver JuJu Schnuster in the offseason. After three weeks, neither player has played a major role in the offensive. It’s fair that this is a surprising development, considering Smith-Schuster was expected to be New England’s main slot receiver while Gesicki would have been a tight end under Bill O’Brien’s system which favors tight ends.

Smith-Schuster signed a three-year, $25.5 million deal with New England. Gesicki has signed a $4.5 million, one-year deal with the Patriots. Smith-Schuster had 10 catches and 66 yards in the first three games. Gesicki’s nine catches have a total of 87 yards. Neither player has a touchdown.

That’s an unimpressive set of stats for an offense that is simultaneously crowded and yet lacking — all at once. Smith-Schuster competes for snaps against DeVante Park, Kendrick Boune and rookie Deario Douglas. Gesicki competes against Hunter Henry, and now Pharaoh brown who is primarily used as a blocking tight-end. You can also probably see why I labeled this team as lacking. New England has a higher number of No. New England has more No. The league has more options, 3 in total, than any other team. But they don’t even have a “No”. The Patriots’ tight end and receiver rooms look a lot like a closet that someone has rearranged after a day of thrift-store shopping. But nothing really fits. Nothing really fits.

In week 3, when the Patriots’ skilled players were at full health Smith-Schuster accounted for 74% of offensive snaps, while Gesicki accounted for 47%. It was a game plan that emphasized running against the Jets. Gesicki played 72% of snaps for the team against the Dolphins the week before. Gesicki, who is helping the Patriots improve their passing game to save their season (0-2) is my pick. Smith-Schuster, on the other hand, might not. This puts him sixth among pass catchers in the NFL. Smith Schuster is doing a good job of averaging 2.8 yards for each route run. This is on par with Amon Ra St. Brown and Justin Jefferson. It’s pretty good, isn’t it?

But there’s a problem: Smith-Schuster has the second-worst yardage after the catch compared to what was expected. He averages minus-2 yards in this category. That means he gets two less after the catch than you would expect from a receiver. This is obviously a bad thing. Van Jefferson, a Rams receiver, has the only NFL receiving record worse than this one. And Gesicki isn’t doing much better, with minus-1.1, which ties him at sixth-worst.

[McKenna: Patriots will need an alpha to emerge on offense if they want to sniff playoffs]

As a team, the Patriots actually rank seventh in the NFL in YAC with 376. Rhamondre Stephenson (85), Bourne (51), and Brown (49) are the main contributors. Brown’s YAC was all derived from a 58 yard touchdown last week. The Patriots are in desperate need of YAC in order to make big plays because their deep game does not work. Mac Jones, the Patriots’ quarterback, is only 3-of-18 from that distance. The good news is? The good news? He doesn’t throw interceptions, which shows his ability to make sound decisions. The bad news? Is Mac Jones the Patriots long-term QB answer? These two pass-catchers, Gesicki and Smith-Schuster, are not traditional deep threats. Gesicki could make a big difference, especially if he starts to generate more YAC. Tom Brady has left the team. Henry and Gesicki don’t look like Rob Gronkowski or Aaron Hernandez. The Patriots throw the ball a great deal, with 125 attempts at passing (fourth most in NFL). The Patriots are not converting enough yards from their attempts (six yard per attempt is the sixth worst in NFL), nor are they completing enough passes (64.8% is 12th in NFL). They lack explosiveness. They don’t have a threat in the red zone. Jones’ deep throws to the receiver on Sundy, for instance. Jones threw a couple of balls that were virtually uncatchable close to the sideline. These were fades from the back shoulder. Smith-Schuster wasn’t nearby. Why? O’Brien said that the receiver had the most to blame, as he was not able to get the throw in the correct spot. O’Brien stated that it can be difficult to simulate this early in the season. “It’s repetition. This is not an excuse. We have to practice them more and make sure we get those hits in practice. Close is not good enough. It’s all about timing. It’s all about trust. Jones and Smith-Schuster don’t seem to have it yet. And Jones and Smith-Schuster don’t seem to have it yet.

Receivers coach Troy Brown said that Smith-Schuster’s chemistry with Jones might have a delayed development due to the receiver’s injury that held him out of OTAs and minicamp. The obvious solution for a situation like this would be to use a receiver who has a good chemistry with Jones. Jakobi Meyers is one example. He signed a $33 million, three-year contract with the Las Vegas Raiders in this offseason. New England preferred Smith-Schuster, even though he would have cost them $8 million less. They were willing to risk him being a misfit for the offense. He’s definitely not a good fit in the offense. Smith-Schuster does not look like a wide receiver that deserves to be given more targets or snaps. He’s actually playing so poorly that I wonder if rookie receiver Demario Doug deserves more touches. Maybe Smith-Schuster is slipping due to his knee injury.

. Perhaps that’s because he has struggled to grapple with the offense, which he admitted was a massive challenge upon his arrival with the Patriots.

“I’m bothered because we work so hard, day in and day out,” Smith-Schuster said last week when talking about the team’s 0-2 start. “

we put in the effort as a team, but still fall short. It’s frustrating. You’re like someone who goes home, studies all night and keeps going. You’re so close. You need an A+ in order to pass, but you only get a B. It’s the worst ever feeling. “

Smith-Schuster is going to have to start showing separation and YAC skills that he hasn’t if his performances — and the team performances — are going to improve.

It’s a little different for Gesicki. Stats and film show that he could help the Patriots. Bill Belichick says he is more of a receiver. Gesicki does not do much blocking but should be able get good matchups when it comes to the passing game. Linebackers will have trouble covering him. Gesicki is a strong performer on downfield routes, and this accounts for a large part of his separation statistics. The Patriots need to find more chances for Jones to connect with his tight end. This could help the TE quickly generate more YAC. This could be an indication that Smith-Schuster is not taking advantage of his opportunities. For Gesicki — maybe just maybe — they’re not giving him enough chances.

Prior to joining FOX Sports as the AFC East reporter, Henry McKenna spent seven years covering the Patriots for USA TODAY Sports Media Group and Boston Globe Media. Follow him on twitter at


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Meta CEO Mark Zuckerberg looks to digital assistants, smart glasses and AI to help metaverse push


Drew Angerer | Getty Images News | Getty Images

Meta has new artificial intelligence tools and celebrity-endorsed digital assistants that CEO Mark Zuckerberg hopes will help eventually help jumpstart the metaverse.

Zuckerberg showed off the AI software as well as the company’s new Quest 3 virtual reality headset and latest Ray-Ban smart glasses on Wednesday at Meta’s Connect conference for VR developers at its headquarters in Menlo Park, California.

Users of Facebook’s various chatting apps like WhatsApp and Messenger will soon be able to share digital stickers that can be automatically created via written prompts, capitalizing on the popularity of technology like ChatGPT.

For example, users can write the prompt “pizza playing basketball” to generate a goofy looking digital sticker of a cartoonish pizza slice holding a basketball.

Zuckerberg also introduced new AI-powered editing tools coming next month to Instagram that will let users alter their photos and pictures with written prompts. He showed in a demonstration how various prompts could modify one of his childhood photos to picture the young executive wearing an ugly sweater in one image and sporting blue hair in another. He also converted a photo of his dog Beast to resemble something akin to an origami figurine.

Powering the new AI tools is the company’s Emu computer vision model, which Zuckerberg characterized as a kind of sibling technology to its Llama family of language-generating software. The Emu software can generate images in around five seconds, he said.

“My kids tell me it’s still not fast enough, but five seconds gets to a point where you’re really cooking,” Zuckerberg said.

Users will eventually be able to automatically generate realistic visuals within Meta’s chat tools similar to how people use the Midjourney AI app within the Discord messaging service.

The company’s new Meta AI digital assistant is like ChatGPT, which generates sophisticated answers to text queries. The digital assistant can access Microsoft’s Bing search engine to help it compile responses to prompts that require real-time information, Zuckerberg said.

Meta has partnered with various celebrities like Paris Hilton, Mr. Beast and Kendall Jenner to represent digital characters. Users can ask a digital assistant named Lorena, who is played by the celebrity Padma Lakshmi, questions related to travel, and Lorena will presumably offer travel-specific tips. Or they can play a game of Dungeons & Dragons with a narrator called a dungeon master played by the rapper Snoop Dog.

Zuckerberg said users will eventually be able to create their own digital assistants, but the company wants to test that ability with select businesses before rolling it out more widely.

The grand plan is for people to interact with these AI-powered digital assistants in the company’s yet-to-be built metaverse, the digital universe that’s costing Meta billions of dollars a quarter as it tries to create the next-generation computing platform.

While Zuckerberg is still all-in on the metaverse, he’s talking a lot more about AI than at past Connect conferences. He said the company’s AI investments are linked with building the foundation for the metaverse, as illustrated by its latest Ray-Ban smart glasses developed with EssilorLuxottica. The new glasses, which will cost $299 when they’re available to purchase on Oct. 17, come embedded with Meta’s AI software so people can identify landmarks or translate signs when looking at various objects.

“Before this last year of AI breakthroughs, I kind of thought that smart glasses were only really going to become ubiquitous once we really dialed in, you know, the holograms and the displays and all of that stuff, which we’re making progress on,” Zuckerberg said.

Now, Zuckerberg said, “I think that the AI part of this is going to be just as important,” because AI makes smart glasses more compelling.

WATCH: Meta’s identity crisis

Meta's 'identity crisis' is making it uninvestable right now, says chief portfolio manager

What Happens When Wall Street Buys Most of the Homes on Your Block?


Written by Ronda Kaysen & Ella Koeze

Ella Koeze, reporting from Charlotte, N.C. spoke with 30 local residents and experts, while Ronda Kaysen interviewed more than 130,000 sales.

Photos by Logan Cyrus

Sept. 16, 2023

This house is in Bradfield Farms, a 34-year-old leafy subdivision on the eastern edge of Charlotte, N.C.

A photo of a small gray house with white trim and black shutters. It is a small gray house with a white trim and black shutters. The front porch has a sign saying “Home”. In December 2021 it was sold to a real-estate investor for $320,000. The house wasn’t the only one.

A photo illustration of a section of a road with rectangles representing homes on either side. Around a third (or more) of the houses on this block were sold between 2021 and 2022. Investors bought all but one of the homes in cash deals

and now rent them. The orange highlights 15 of the 51 houses. This indicates that investors bought them. One house has been highlighted in green to indicate that it was the only one purchased by an individual.
In the Bradfield Farms subdivision, half of the homes sold in 2021 or 2022 were purchased by large investors, who paid cash. First-time homebuyers struggled to gain a foothold.

Bradfield Farms is a small community on the edge of Charlotte with about 1,000 homes. A young couple of middle income can no longer buy a modest home for under $200,000. It was just a few short years ago.

Alvin Maisonet, on his 36th Birthday, became the first member of his family to have a house — a Bradfield Farms two-story home with shade trees outside the front door.

Mr. Maisonet and Patricia Maisonet traded their frantic life in Paterson (N.J.) for $148.500. They now enjoy a peaceful and prosperous future. Joggers said hello and waved. Ms. Maisonet imagined a swimming pool in the lush grassy backyard. She said, “I felt like a princess in my castle.”
Alvin and Patricia Maisonet purchased their Bradfield Farms house almost a decade before. Newcomers today are more likely than ever to find a starter house.
A newcomer will now be more likely to rent from a corporate landowner with a name such as FirstKey Homes or Main Street Renewal.

Wall Street is after the first home.

Cash buyers often beat out first-time buyers who depended on mortgages at the start of the pandemic when rates dropped below 3% and home prices rose. In 2022, cash sales will account for more than one-third of all home sales across the United States. ATTOM data shows that investors paid cash for almost 10 percent of all home purchases in the year. Investor activity was higher in the fast-growing Sun Belt Cities like Charlotte, Atlanta and Phoenix.

Investors with cash went on a home-buying spree in several cities

Share of home sales bought with all cash by investors in metropolitan areas

Charlotte, N.C.


in 2022







Bradfield farms has two pools in the community, a tennis court, and walking and biking paths.
Rentals lower the barrier to entry into a community. A “For Rent” sign can change the equation if you cannot afford a downpayment or have a weak enough credit score to qualify for a mortgage. A 2021 study revealed that more Black households are moving into white neighborhoods as the rental share increases, increasing diversity. “Rentals offer an opportunity to move into these better neighborhoods


” said Keith R. Ihlanfeldt, an economics professor at Florida State University and an author of the study.

Some advocates for affordable housing claim that single-family rental homes trap would-be purchasers.

Madeline Bankson is a housing researcher at the nonprofit Private Equity Stakeholder Project. She said, “It’s an issue of scale – they are reaching near monopoly status in some areas.” “They are shutting out people from the home-buying processes.”

Most Americans consider their home to be their biggest investment and primary source of wealth for future generations. Only 46 percent of Black and Latino households own their home. This is well below the national median of 66 per cent.

Jessica Moreno is a community coordinator at Action NC in Charlotte, an organization for tenants. She said: “They claim they can rent the American Dream, but I personally know hundreds of people that don’t want rent. They want to own.”

Tarchia chose Bradfield Farms as her rental location because it has a rural feel. Her landlord raised her rent despite her neighbors’ warm welcome.
Tarchia Barber loved the rural feel Bradfield Farms had, with its cul-de sacs and shaded streets surrounded by farmland. She said “I’m country girl” as she stood on her lawn on a hot afternoon with a sign saying “Home Sweet Home”, bags of mulch in her flower beds, and a “Home Sweet Home “sign on the walkway. In December 2021 when Ms. Barber first moved into her new home, neighbors left her cookies, flowers and cards. She gave a cheesecake to a neighbor who cleaned her gutters without prompting.

Barber says that her landlord Progress Residential has been slow in making repairs. She said that her previous landlord had dealt with problems within 24 hour. He didn’t use a property manager. He would come to look at it during the day.

A person sitting at a table on the deck of a swimming pool while a small child stands nearby holding a doll.

She waited for five to six days to get a Progress technician after she submitted work orders to repair a blocked dryer exhaust and a leaky shower. Nikki Sloup said, in an email, that Progress Residential “completed all work orders” and sent out multiple technicians.

A bus takes students to Bradfield Farms. This quiet neighborhood is where many parents report that their children roam around freely.
Ms. Barber’s rent was increased by Progress last year to $1,876 per month. Ms. Sloup called this amount “below the market rate.”

What would have happened in 2021 if an individual, rather than a corporation, bought the $300,000 three-bedroom home? A 30-year mortgage with a modest down payment of 3.5 percent would cost the homeowner $1,200 per month in interest and principle, based on the current mortgage rates. Homeowners are responsible for paying utilities, property tax, repairs, and association fees. They also build equity with time.
The Homeowners

Becky Johnson (71) didn’t even know there were any rentals in her neighborhood a decade ago. Now, 41% of homes are single-family corporate rentals. Ms. Johnson, who is a retired computer worker, has a green olive house with an American flag on the garage and “Thank You Jesus” on the sidewalk. She went door-to-door in the North Carolina summer of 2022 to urge her neighbors to vote for a cap of 25 percent on rentals and require that homeowners live in their homes for at least a year prior to renting them.

A supermajority of two thirds is required to amend the bylaws of a homeowners association. After investors have more than one-third of the properties, it may be difficult to reach the voting threshold. Lenders may be reluctant to provide mortgages to communities where there is a high percentage of properties owned by investors, which could make it more difficult to sell. Greg McBride is the chief financial analyst at Bankrate.com. He worries that a neighborhood could “enter a self-reinforcing spiral” if investors all leave the area or default in masse.

Sheree hall, in the foreground, owns a home in Bradfield Farms, as does Ms. Johnson. Ms. Hall, whose grown daughter and son-in-law moved in with her because of rising housing costs, worries about a “corporate takeover” of her neighborhood.

Sheree, a 52-year-old homemaker and mother, canvassed her neighborhood with Ms. Johnson. She said, “We wouldn’t sit back and allow the corporate takeover to happen in our neighborhood.” “We had no choice but to stop it.”

Several homeowners, such as the Maisonets of New Jersey, reacted negatively to the proposal. “It’s horrible. Maisonet felt he was being pressured to accept the rental of his home by a door-knocking company. It smelled fishy.

Tarchia Barber standing next to a tree and in front of a house with a lawn.

The amendment was passed in April.
Too big to roll back

The 2008 foreclosure crisis gave birth to large, national single family rental companies. They seized distressed properties in some of the hardest hit communities across the country. These companies’ profits soared during the pandemic housing market as rents rose by double-digit percentages, and home prices rose faster than ever before in U.S. History. According to Brandon Little, an agent with Keller Williams, in Bradfield Farms the average home price rose 48 percent from January 2021 until January 2023.

Bradfield Farms is a 34-year old community with about 1,000 homes near Charlotte, N.C. It has been shaken by an increase in home sales to investors.
According to a report released by the Urban Institute in April, nationwide institutional investors hold 3.8 percent of all the single-family rental homes, but they have 20 percent in Charlotte.

Their presence has professionalized the mom-and-pop industry. Jade Rahmani, a Keefe, Bruyette & Woods real estate finance analyst, said, “We have seen the emergence an industry.” It’s becoming more institutionalized.

Wall Street investors have turned single-family rentals into powerful investment tools by bundling purchases into investment portfolios. Pension funds and mutual fund companies are among the investors who “see it a good bet,” said Mr. Rahmani.

A yellow school bus at a stop sign with its door open and a person in a blue sweatshirt with a red backpack walking beside it.

They want to be exposed to the U.S. Housing Market. He added that they believe these homes will be worth more at a later date. “And they enjoy the income.”

When Ms. Enos 62, a real estate agent in Bradfield Farms, sold her home two years earlier, she was determined that she would never sell to an investor.

Her brother has lived in the same neighborhood for many years. The dogs and children of the neighbors walked amongst the houses. She worried about the neighborhood becoming transitory as she watched her clients rush to anonymous cash offers. If no one lives on the street for a long time, who would organize a block party? She sold her home to a neighbour, not an investor.

Becky Johnson holding a clipboard with a handwritten sign that reads “BFF Rental Cap Vote. Not Selling Anything!!!” and another sign that reads “Vote BFF.”

She owns shares in Invitation Homes, which is the largest single-family rental company in the country. She said, “I’d be stupid if I didn’t.” “I earn a lot of money.”

Dana Hartness and James M. Hasty Jr. in the backyard of their rental home, where they live with their combined eight children.

Homeowner vs. Renter

Ms. Johnson pointed to homes which, in her opinion, did not meet neighborhood standards. One home, painted in a bright, gaudy blue, was obnoxious. A beige one felt dull. She thought the houses with dirty siding or overgrown grass were rentals. She said, “We love the neighborhood and want to keep it as it is.”

Sheree Hall in a pink shirt walking beside Becky Johnson in a blue shirt near a driveway.

In a Facebook group for a local neighborhood, the blame is placed on renters who are responsible for loud music, domestic disputes, and trash and furniture that’s left at the curb. Members worry that their home values may fall.

Lisa Damas installed cameras on her property. Kasey Sylvester and Jim Sylvester, who sold their home last year, did so partly because they felt the neighborhood had degraded. “The entire vibe was changing,” said 38-year-old Ms. Sylvester. She is a mother who stays at home. “There were groups teenagers who gave me attitude.”

Ms. Hartness was shocked when her landlord removed privacy fences that were part of the rental property.
However, reports of crimes — burglaries, thefts, assaults, weapons violations, vandalism and drugs — dropped to 31 in 2022, from 40 in 2020, according to the Charlotte-Mecklenburg Police Department.

Ms. Maisonet doesn’t understand the hostility toward renters. She sees them as good neighbors, and she has watched the children of both the landlords and the tenants grow up. Maisonet is from Peru and said, “I’m not sure if there’s any prejudice.” “I believe it’s fear. “Most likely, they are acting out of fear.

A white dog looks out from behind a storm door.

Renters feel they are being attacked by all sides. Landlords increase rents, and homeowners blame them for neighborhood problems.

Dana Hartness (44), who is a corporate travel agent, owned this home in the past. She rents a house with three bedrooms, just a few blocks away from where her ex-husband still lives. She chose the house partly because it had a fenced-in backyard, an amenity that corporate landlords promote as a reason for renting a single family home.

She and her husband James M. Hasty Jr. 48, a cabinetmaker put a trampoline where their eight combined children can play. Last spring, however, the landlord, Progress Residential took down their fence as it did not comply with all homeowners association rules. Instead of replacing it with a fence that was allowed by the community, they gave Ms. Hartness $1,200, which is nowhere near enough money to pay for a new one. She said, “It was like a tropical paradise.” The yard, which is located on a corner plot, feels more exposed now. “Now we’re depressed.”
Bradfield Farms has seen a significant increase in single-family rental properties between 2021 and 2022.
Other problems have also occurred. Ms. Hartness reported that Progress took over a week to replace a refrigerator, and the family endured a heatwave for a whole weekend when the air conditioner broke. Ms. Sloup, of Progress Residential, confirmed in an email the air conditioner had been fixed promptly.

A red sign with the words “Welcome: Bradfield Farms” on it on a berm surrounded by large trees and shrubs.

Ms. Hartness, however, is thankful that her four children can wander the neighborhood without supervision, as there are hiking and biking paths nearby.

She is disappointed with homeowners who, in her opinion, “want people to buy even though it’s no longer feasible.”

She said, “It’s really hard for people of my age to buy a home right now.” “But we would also like to live in a community that is family-oriented.”

Sen. Bob Menendez and his wife plead not guilty in bribery case


On Wednesday, Democratic Senator Bob Menendez from New Jersey and wife Nadine Menendez arrived at the federal courthouse in New York.

Jeenah Moon/AP

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Jeenah Moon/AP

The federal courthouse of New York was visited by Democratic Sen. Bob Menendez and his wife Nadine Menendez on Wednesday.

Jeenah Moon/AP

Sen. Bob Menendez, D-N.J., and his wife, Nadine, pleaded not guilty Wednesday to bribery charges in a federal court in Manhattan.

The two were charged in an indictment last week that claimed Menendez allegedly accepted luxury goods and large sums of money in bribes in exchange for committing corrupt acts, including providing sensitive information to the government of Egypt.

Menendez was released on a $100,000 bail and will have to hand over his personal passport but can keep his official passport and can continue foreign travel only for official duties as senator.

He intends to continue his work as New Jersey’s senior senator despite calls from more than a dozen Senate Democrats for him to resign. Menendez, D-N.J., and his wife Nadine pleaded not guilty Wednesday to bribery charges in a federal court in Manhattan. He has only agreed to temporarily step down from his post as chairman of the Senate Foreign Relations Committee.

Nadine Menendez was released on $250,000 bail with her travel restricted as well.

Menendez, 69, and his wife, Nadine, 56, are facing charges of conspiracy to commit bribery, attempt and conspiracy to commit honest services wire fraud and conspiracy to commit extortion under color of official right, according to court documents.

Their alleged coconspirators, New Jersey businessmen Fred Daibes, a real estate developer, Wael Hana and Joseph Uribe were also named in that same indictment and are facing two charges each.

Hana pleaded not guilty on Tuesday.

Here's how 2024 Republicans are preparing for the second GOP debate


The Republican Party’s second Primary Debate will take place in Simi valley, Calif. on Wednesday, January 10, 2010. Candidates are preparing by going to the gym with their families and listening to music. His campaign said that former Vice President Mike Pence will “get a workout in, do some light prep, and spend time with his daughter, son-in-law, and granddaughter,” according to The Hill.

Former Vice President Mike Pence will “get a workout in, do some light prep, and spend time with his daughter, son-in-law, and granddaughter,” his campaign told The Hill.

Entrepreneur Vivek Ramaswamy also plans to work out before the big event, his campaign said, as well as spend time with his wife and two sons.

Former New Jersey Gov. Chris Christie’s campaign stated that Bruce Springsteen would be a big part of his pre-debate ritual. “Once Chris Christie is on stage, his strategy will be simple: listen to questions, answer directly and call out dishonesty if he notices it.”

Florida Governor. Ron DeSantis is a former U.N. Nikki Haley, former U.N. Ambassador and North Dakota Governor. The Republican National Committee announced that Doug Burgum would also be present. Former Arkansas Gov. Asa Hutchinson was not included on the list, despite making the cut in August for the first round.

The party’s leading candidate, the former president Trump, will also be absent from the stage. He will deliver remarks in Michigan to counter-program. Haley said on Fox Business that answering questions in town halls across key states and her busy campaign schedule has been the “best debate preparation you can get”. “As we prepare for the second primary debate, which will take place on Wednesday night, we’re excited to build upon last month’s performance in Milwaukee. We’ll also be taking advantage of this opportunity to allow Ron DeSantis the chance to communicate his message to millions across the country that are only now tuning in to the race,” DeSantis’s team wrote in a memo sent to supporters before the event. Burgum

“Tonight at the Ronald Reagan Presidential Library I will outline my vision of how we can unlock the best in America and improve the lives of all Americans.” “

Meta announces new Quest 3 VR headset as Apple competition looms


Meta announced Quest 3, a sequel to the best-selling VR headset of all time, on Thursday.

The device, starting at $499, is more expensive than its predecessor by $200, but it includes a more powerful chip from Qualcomm, better screens, and an ability called “passthrough” which is expected to be one of the key features on Apple’s competing Vision Pro headset.

Preorders open on Wednesday and it ships on Oct. 10.

The defining feature of the new Quest 3 headset is the ability to quickly see the world outside the headset, which will make the device more comfortable to use for long periods because it is less isolating. When in an app on the Quest 3, double-tapping any part of the headset brings you out of a virtual world and into “passthrough” mode.

Other improvements include “pancake lenses,” a kind of optic first used on Meta’s $1499 Quest Pro that make images sharper and allow for higher resolution.

The release of Meta’s latest VR headset comes as an impending battle looms with Apple in virtual reality. Many in the technology industry believe Apple’s entrance could expand the total market and create new winners, similar to how the iPhone jump-started the smartphone market.

So far Meta, the company formerly known as Facebook, has a head start. Its Quest 2 is by far the best-selling VR headset of all time, with nearly 10 million units sold last year, slightly down from a pandemic peak, according to an industry estimate. Apple’s Vision Pro headset won’t go on sale until next year, and costs significantly more than Meta’s headsets, starting at $3,499.

But despite Meta’s current success in sales, it’s not clear just how many Quest 2 owners use it on a daily or weekly basis, and the killer app or must-have scenario for VR remains elusive. Meta has invested over $21 billion to date in its Reality Labs division, which develops headsets and VR software.


CNBC was able to try out the Quest 3 for about an hour-long demo ahead of its launch Wednesday. CNBC was able to play games and walked through a few programs that showed off the company’s hardware.

The hardware has been significantly updated, with a new headband strap and a slimmer headset shape. The new headband splits the top strap into two straps over the user’s head to distribute weight better. The whole headset, though, is a hair heavier than its predecessor at 515 grams. The speakers on the device have also been improved, and provide a quality audio experience without as much sound leaking out.

Meta has also updated the two necessary controllers with better haptic feedback. It uses Qualcomm‘s Snapdragon XR2 Gen 2 chip, which is Arm-based and closer in power and energy drain to a mobile processor than a PC processor.

The extra power on the chip is used to power displays at 2064×2208 resolution per eye, higher than the Quest 2’s 1,832×1,920 resolution per eye. The additional pixels will make it easier to read text inside the headset. Users can expect about two hours and twelve minutes of battery life, Meta says.

During the demo, I tried out Samba de Amigo, a $30 game from Sega that is like Dance Dance Revolution or Rock Band with maracas (in real life, the Quest 3 controllers). It was fun and I even sweated a little bit.

The biggest improvement to usability is that the Quest 3 emphasizes passthrough, which means that the cameras outside the device can show live video on the displays inside the headset, working somewhat like a transparent pair of glasses that can also show computer windows and other graphics. The Quest 3 can also scan the room around you so apps can warn you when you’re about to bump into your surroundings.

Passthrough, while a core component of mixed reality experiences which integrate computer graphics with the real world, for now is a nice-to-have usability feature. In practice, it means that users can stop their game or experience inside the Quest 3 without taking the headset off. During the demo, I was able to cchat with Meta officials while wearing the headset, a major improvement over the last version.

Meta’s launch of the Quest 3 will be compared to Apple’s Vision Pro headset, which is expected to come out early next year for at least $3,499. But while Apple packed as much pricey technology into its headset as possible to enable its own passthrough mode it calls “spatial computing,” Meta is seeking to match many of its features, or at least an approximation of them, at a fraction of the price. Meta also has a high-end $1,499 headset called Quest Pro, but it’s a lower-volume product.

But if there’s one major difference between Meta and Apple at this point, it’s that Meta envisions the Quest mainly as a gaming device, while Apple frames its device as a computer. Meta says it’s lined up 500 games and apps for the headset, including a Ghostbusters title, an Assassin’s Creed game, and a Stranger Things experience developed in conjunction with Netflix.

A ‘dark horse’ Republican candidate could emerge as Trump’s legal problems mount, ex-U.S. ambassador says


A growing legal headache for early front-runner Donald Trump could pave the way for a “dark horse” 2024 Republican presidential candidate to win the backing of the party in the race for the White House.

That’s the view of one former U.S. ambassador ahead of the Republican Party’s second televised presidential debate on Wednesday evening.

Seven candidates will take the stage at the Ronald Reagan Presidential Foundation & Institute in Simi Valley, California, seeking to close the gap with Trump — who holds a seemingly unshakeable lead over the rest of the field.

The former president, who skipped the first Republican Party presidential debate in Wisconsin last month, boasts a lead of more than 40 points over his nearest competition, according to a recent national NBC News poll.

Trump has said he doesn’t plan to take part in the second Republican debate on Wednesday evening and will instead deliver a speech to autoworkers in Detroit.

“I think we are just seeing the beginning of Donald Trump’s legal issues starting to pile up on him and I think they are going to start to take its toll,” Lew Lukens, former U.S. ambassador to Senegal and Guinea-Bissau and senior partner at Signum Global Advisors, told CNBC’s “Squawk Box Europe” on Wednesday.

Lukens said there are plenty of Republican Party voters open to alternatives to Trump but they hadn’t found one yet, with many seemingly reluctant to get behind Florida Gov. Ron DeSantis — an early rival to Trump.

Former U.S. President Donald Trump speaks to a crowd during a campaign rally on September 25, 2023 in Summerville, South Carolina.

Sean Rayford | Getty Images

“I still think there is a possibility of a dark horse candidate, somebody like Gov. Glenn Youngkin of Virginia, who could jump into the race, attract donors, coalesce the non-Trump voters and come out as the candidate,” Lukens said.

Youngkin, who spoke in May about ushering in “a new era of American values” in a presidential campaign-like video, has said he is not running for the White House next year, having previously declined to rule out the possibility of a campaign.

Republican Party donors have encouraged Youngkin to enter the race and challenge Trump’s sizable lead in the polls.

Looking ahead to the second Republican debate, Lukens said one to watch would be former U.N. Ambassador and South Carolina Gov. Nikki Haley.

“She is trying to carve out that ground where she could be an attractive, maybe not presidential candidate, but maybe on the vice presidential ticket,” he said.

Alongside DeSantis and Haley, businessman Vivek Ramaswamy, former Vice President Mike Pence, South Carolina Sen. Tim Scott, former New Jersey Gov. Chris Christie and North Dakota Gov. Doug Burgum will take part in the Republican Party’s second debate.

Skipping debates ‘does have some cost’

Trump’s legal problems are well documented. He has been criminally indicted four times and currently faces a series of criminal and civil trials over the coming months that could derail his 2024 presidential run.

Trump has repeatedly said he is innocent or not at fault in all of the cases.

Trump’s decision to skip Republican debates does have some cost, UCL research fellow says

Tom Packer, honorary research fellow at UCL’s Institute of the Americas, said it was worth noting that Trump’s support fell back slightly after skipping the first primary debate and his decision to miss the second one could also harm his lead in the polls.

“I can see why he’s avoiding the debate because if he lost the debate that could hurt him more but not turning up to the debates does have some cost,” Packer told CNBC’s “Street Signs Europe” on Wednesday.

“In many ways what the debates have ended up being is a competition as to who is going to be the alternative to Trump and that’s perhaps the most important thing about them.”

Virginia Governor Glen Youngkin addresses the Economic Club of Washington’s luncheon event at the Marriott Marquis on September 26, 2023 in Washington, DC.

Chip Somodevilla | Getty Images News | Getty Images

Asked what could disrupt Trump from securing the Republican Party’s presidential nomination, Packer cited mounting legal challenges and potential weakness in some early voting states.

“One thing to remember is we are still quite a few months away, people like us who follow it very closely are following it, but actually even the kind of people who vote in the Republican primaries — who are quite political people — just aren’t following that closely,” Packer said.

“So, I can easily see Donald Trump having a consistent very large lead and then actually struggling a bit once people start voting,” he added.

Biden and Trump neck and neck

The latest national NBC News poll, which was conducted between Sept. 15 and Sept. 19, deadlocked President Joe Biden and Trump in a potential rematch ahead of next year’s presidential vote.

“The latest polls, and you’d always take polls with a grain of salt especially from the U.S., have Trump and Biden essentially neck and neck,” Cailin Birch, global economist at The Economist Intelligence Unit, told “Squawk Box Europe” on Wednesday.

Race for Republican Party’s presidential nomination appears to be Trump’s to lose, economist says

For the GOP race, Birch said the latest polling data indicates it is “really not a contest at the moment” and it appears to be Trump’s nomination to lose.

“Were he to win another term as president, he would have big changes for foreign policy in terms of support for Ukraine, in terms of how he engages with China … and then domestically, from what we have heard from his advisors recently, tax cuts — on top of what the U.S. has already done in recent years — are still on the table,” Birch said.

“Obviously, Biden is the reverse of that for most things. The only commonality is competition with China between those two and a focus on U.S. industry. Everything else is up for grabs,” she added.

Sam Bankman-Fried asks judge for suits to wear at trial


(c) Reuters. REUTERS/Mike Segar

By Luc Cohen

NEW YORK (Reuters REUTERS/Mike Segar

By Luc Cohen

NEW YORK (Reuters) – Sam Bankman-Fried, the jailed former cryptocurrency billionaire known for his casual appearance, has asked a U.S. judge for permission to dress up for his forthcoming fraud trial.

In a Tuesday night court filing, Bankman-Fried’s lawyers asked a judge to order U.S. marshals and Brooklyn jail officials to provide their client with three suit jackets and pairs of slacks to wear in the courtroom.

They also asked that Bankman-Fried be given four dress shirts, three ties, one belt, four pairs of socks, two pairs of shoes and “appropriate undergarments. The request will be reviewed in Manhattan by U.S. district judge Lewis Kaplan. Bankman-Fried’s trial is due to begin on Oct. 3 and could last six weeks.

Jailed inmates do not have access to their own clothing.

Judges often let them wear business attire in court, to avoid possible juror bias if they wore prison garb.

Bankman-Fried, 31, has pleaded not guilty to stealing billions of dollars in customer deposits from FTX, the now-bankrupt cryptocurrency exchange he founded in 2019.

As he rode a boom in bitcoin and other digital assets to an estimated $26 billion fortune, Bankman-Fried was known for his unkempt mop of curly hair and wearing rumpled shorts, T-shirts and sneakers even when entertaining the likes of former U.S. President Bill Clinton and ex-British Prime Minister Tony Blair.

Kaplan revoked Bankman-Fried’s $250 million bail on Aug. 11 and remanded him to the Metropolitan Detention Center in Brooklyn after finding he likely tampered with witnesses.

At most court appearances since his Dec. 2022 arrest, Bankman-Fried has worn suits. Bankman-Fried wore a beige prison uniform to an August hearing after his arrest. 01001010

Piper Sandler upgrades Guardant Health, says shares can rally more than 55%


Landmark marijuana financing bill set to move forward in the Senate


Activists from the DC Marijuana Justice (DCJM) wave flags during a rally to demand Congress to pass cannabis reform legislation on the East Lawn of the US Capitol in Washington, DC on October 8, 2019

Olivier Douliery | AFP | Getty Images

A new bill that aims to give the marijuana industry access to banking services is expected to move forward in the Senate on Wednesday.

The Secure and Fair Enforcement Regulation Banking Act was introduced by a bipartisan group of senators last week. The bill would provide legal protection to banks or other financial institutions that offer services to state-legal marijuana businesses.

The Senate Banking Committee will mark up the bill Wednesday, and the panel is expected to vote to advance it to the full chamber’s floor.

The bill is being led by Sens. Jeff Merkley, D-Ore.; Steve Daines, R-Mont. ; Kyrsten Sinema, I-Ariz.; and Cynthia Lummis, R-Wyo., as well as Majority Leader Chuck Schumer, D-N.Y.

Senator Jeff Merkley, a Democrat from Oregon, speaks during a news conference at the U.S. Capitol in Washington, D.C., on Jan. 25, 2020.

Zach Gibson | Bloomberg | Getty Images

“This legislation will help make our communities and small businesses safer by giving legal cannabis businesses access to traditional financial institutions, including bank accounts and small business loans,” the senators said in a joint statement.

“It also prevents federal bank regulators from ordering a bank or credit union to close an account based on reputational risk,” they added.

Even as 39 states have legalized marijuana for recreational or medical use, the sector has struggled to scale. Marijuana is classified as a Schedule I drug, which means it has no accepted medical uses and high abuse potential. This, combined with federal prohibition, poses a threat to banks. This, in turn, has limited access to financing and a broader market.

Moreover, without access to financial services, state-legal cannabis businesses are forced to operate their businesses solely using cash, which can result in robbery, money laundering and organized crime.

Due to the opening of new adult-use markets in individual states, combined U.S. medical and recreational cannabis sales are expected to reach $33.6 billion by the end of 2023, according to analysis from the MJBiz Factbook from industry news outlet MJBizDaily.

The landmark vote Wednesday will mark the first time the Senate has considered the legislation. The SAFE Banking Act was passed seven times in the House but never made it to the Senate, under either Democratic or Republican control. Late last year, lawmakers excluded it from a $1.7 trillion government funding bill.

The bill may face a tougher path to passage if it ends up before the GOP-controlled House.

“I think it probably passes the banking committee, but I think it doesn’t go anywhere in the House,” said Ian Katz, an analyst with Capital Alpha Partners who covers banking and financials.

“Republicans seem to be souring on it,” he added.

The new bill includes stricter requirements for federal regulators, such as prohibiting them from terminating any marijuana-related accounts without “valid reason,” or from denying banking services based on “personal beliefs or political motivations. “

Mortgage demand shrinks as interest rates hit the highest level in nearly 23 years


Ryan Ratliff (L), Real Estate Sales Associate with Re/Max Advance Realty, shows Ryan Paredes (R) and Ariadna Paredes a home for sale on April 20, 2023 in Cutler Bay, Florida. 

Joe Raedle | Getty Images News | Getty Images

Mortgage interest rates just hit a level not seen since the year 2000. As a result, mortgage demand is now sitting near a 27-year low.

Total mortgage application volume fell 1.3% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was 25.5% lower than the same week one year ago.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 7.41%, from 7.31%, with points decreasing to 0.71 from 0.72 (including the origination fee) for loans with a 20% down payment. The rate was 6.52% one year ago.

The 30-year fixed jumbo mortgage rate increased to 7.34%, the highest rate in the history of the MBA’s jumbo rate series dating back to 2011.

“Based on the FOMC’s most recent projections, rates are expected to be higher for longer, which drove the increase in Treasury yields,” said Joel Kan, an MBA economist, referencing the Federal Open Market Committee. “Overall applications declined, as both prospective homebuyers and homeowners continue to feel the impact of these elevated rates.”

Applications to refinance a home loan fell 1% for the week and were 21% lower than they were one year ago. After record low interest rates throughout the first few years of the pandemic, and a refinance boom, there are precious few borrowers now with mortgage rates high enough to benefit from a refinance.

Applications for a mortgage to purchase a home fell 2% for the week and were 27% lower than the same week year over year.

Today’s potential buyers are facing an unprecedented dynamic of a historically low supply of homes for sale, coupled with both rising interest rates and rising prices. Higher interest rates historically throw cold water on home prices, but the supply and demand imbalance is so severe that it is pushing prices higher even though more and more buyers are unable to afford a home.

Interest rates continued to move higher this week, according to a separate survey from Mortgage News Daily. Even sales of newly built homes, which had been rising due to the short supply on the resale market, took a hit in August, according to another report this week. Sales dropped nearly 9% in August from July’s pace, hitting the lowest level since March.

Estate Along Italy’s Emerald Coast Boasts An Architectural Pedigree


Porto Cervo, a seaside resort along Italy’s Costa Smeralda on the island of Sardinia, is exactly what it was intended to be.

The central town and surrounding swath of the Emerald Coast were founded by Prince Karim Aga Khan and investors beginning in the 1960s as an upscale tourist destination. The development became a favorite of the international jet set as a place to play and stay.

“The Costa Smeralda is among the most sought-after destinations globally for buyers looking for a second home, to be used not only for summer holidays but, increasingly, also for longer periods where they can work remotely or spend their retirement,” says Rarex founder Fernando Velez, who specializes in selling real estate in the region. “The area is proving very attractive not only to national buyers but also to international investors, especially from Northern Europe and North America.”

Among the various architects and landscape designers employed to implement the master-planned community’s creation was renowned architect Luigi Vietti. The architect is also responsible for the design of Cerbiatte’s private villa, as well as the Dolce Sposa complex, the village center and the Cervo and Pitrizza hotels. Architectural guidelines called for rustic Mediterranean designs using irregular shapes, decorative arches, pastel exteriors and natural unfinished wood.

Velez currently has the listing for a home designed in the 1970s by Vietti. The waterfront residence was later renovated and still maintains its original facade. It is topped with a red roof.

There are a total of five bedrooms and six bathrooms.

The property includes a main villa and a separate guest or staff annex.

The sun-lit kitchen features an island for flexibility.

from German-speaking countries, Eastern Europe, the United Kingdom and the United States, looking for their own private oasis of peace with a mild climate all year round and an unspoiled coastline.”[high-net-worth individuals]The property is a roughly five-minute walk from the marina and a 20-minute walk from the town

Two berths at the nearby marina are included.


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