Growing Calls for Biden to Withdraw from 2024 Election
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Growing Calls for Biden to Withdraw from 2024 Election

A growing wave of congressional Democrats and former national security officials are urging President Joe Biden to step down from the 2024 presidential race. On Friday afternoon, 34 Democratic lawmakers publicly called on Biden to reconsider his candidacy. Biden’s campaign co-chair said the president is considering who would be the strongest candidate to uphold Democratic values ​​and win in November. In addition, more than 50 former U.S. national and foreign security officials, including Anthony Lake, former national security adviser under President Bill Clinton, have also advised Biden to end his campaign. They have expressed concerns about Biden's ability to secure a victory against Donald Trump, potentially jeopardizing Biden's record and national security legacy. The group s...
Mid-Day Market Action: CrowdStrike, Plug Power, Comerica and More
Business

Mid-Day Market Action: CrowdStrike, Plug Power, Comerica and More

Several stocks have seen significant mid-day changes in the market today. Among them are CrowdStrike, Plug Power, and Comerica. Here's a closer look at the major players making headlines. Crowd Strike (CRWD) CrowdStrike has seen a substantial increase in its stock price, driven by an upbeat earnings report that beat Wall Street expectations. The cybersecurity company reported stronger-than-expected revenue growth and issued positive guidance for the coming quarters. Investors responded favorably to the company’s solid performance and upbeat outlook, sending its shares up more than 10% at midday. Plug power supply (PLUG) Plug Power shares fell sharply after reporting their quarterly earnings. The hydrogen fuel cell company reported a wider-than-expected loss, disappointing i...
Bronny James shines with 12 points in Lakers’ Summer League win over Hawks
Sports

Bronny James shines with 12 points in Lakers’ Summer League win over Hawks

In his most notable performance of the Summer League, Bronny James made a significant contribution to the Los Angeles Lakers' narrow 87-86 win over the Atlanta Hawks. James scored 12 points, hitting 5-of-11 from the field and 2-of-5 from three-point range. Bronny’s summer league run has been a rocky one, averaging just 4.3 points and shooting 22.6 percent from three-point range through his first three games. Despite missing 15 three-pointers, his recent performance marks a promising turnaround. Drafted 55th overall by the Lakers in the 2024 NBA Draft, Bronny joins his iconic father, LeBron James, on the court. The young player has faced intense scrutiny, with many questioning his readiness for the NBA. However, his performance against the Hawks is a step toward silencing his critics. Skip...
Japan’s Nikkei hits record highs, Asian stocks rise on tech rally, rate-cut hopes
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Japan’s Nikkei hits record highs, Asian stocks rise on tech rally, rate-cut hopes

Fueled by a surge in technology stocks and rising expectations of a Federal Reserve rate cut, Asia-Pacific markets rose on Thursday. The highlight was Japan's Nikkei 225 index, which topped the 42,000 mark for the first time ever. The Nikkei rose nearly 1%, with technology stocks leading the charge. The broader Topix also hit new highs, rising 0.7%. This rally mirrored the performance of U.S. tech giants the day before, with chipmakers such as Taiwan Semiconductor Manufacturing Company (TSMC) and Nvidia posting significant gains. However, a separate report from Japan pointed to a potential weakness in the economy. Orders for basic machinery unexpectedly fell for a second straight month, potentially signaling a weakening in capital spending. That could pose a challenge to the Bank of Japan...
Fed Rate Cut Expectations Bolstered by Upcoming Inflation Report
Business

Fed Rate Cut Expectations Bolstered by Upcoming Inflation Report

Thursday's highly anticipated June CPI release will likely shape market sentiment regarding potential Federal Reserve rate cuts. Recent economic data, including rising unemployment, suggests both inflation and economic growth are cooling. Federal Reserve Chairman Jerome Powell acknowledged a more balanced risk outlook for inflation and recession in his testimony to Congress this week. He hinted at the possibility of rate cuts without waiting for inflation to hit the 2% target. Economists forecast a 0.1% monthly increase and a 3.1% annual increase in the consumer price index. The core consumer price index, excluding volatile food and energy prices, is forecast to rise 0.2% from May and 3.4% year-on-year. Market observers like Matt Brenner of MissionSquare Retirement believe that inflation ...
Kawhi Leonard Retires From Team USA, Raising Questions About His Legacy
Sports

Kawhi Leonard Retires From Team USA, Raising Questions About His Legacy

Kawhi Leonard’s decision to retire from Team USA ahead of the 2024 Olympics has shocked the basketball world and sparked a debate about how it will affect his legacy. Leonard, a two-time NBA champion and two-time Finals MVP, was expected to play a key role for the U.S. team in their quest for gold. However, he cited knee pain as the reason for his withdrawal, just days before the team's opening exhibition game against Canada. The news of Leonard's absence was met with disappointment by fans and analysts, with some questioning his commitment to representing his country. Others pointed to his history of injuries as a possible factor in his decision. But perhaps the most significant impact of Leonard's retirement is the potential damage it could do to his legacy. As one of the most ...
Barcelona: Protests against mass tourism
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Barcelona: Protests against mass tourism

Barcelona, ​​Spain – Tensions between residents and tourists in Barcelona reached boiling point this weekend. Protests against mass tourism saw hotel and restaurant entrances blocked in Barceloneta, with calls for an immediate reduction in visitor numbers. Reasons for discontent Residents blame the influx of tourists for the rising cost of living, crowded public spaces and a loss of local identity. Rent prices have skyrocketed, forcing many residents to abandon their neighborhoods. Measures to address the problem Barcelona Mayor Jaume Collboni has announced that Airbnb-style short-term rentals will be banned by 2028, potentially freeing up 10,000 apartments for long-term rentals. Change of feeling While most residents still see tourism as economically beneficial, many are now concerned ab...
China Inflation Cools Further as Deflation Fears Rise
Business

China Inflation Cools Further as Deflation Fears Rise

China's consumer inflation continued its downward trend in June, rising just 0.2% year-on-year, according to data released Wednesday. That was lower than analysts' expectations and adds to concerns about potential deflation in the world's second-largest economy. A Reuters poll had forecast a 0.4% rise in consumer prices in June. Meanwhile, the producer price index, which tracks factory-gate inflation, fell 0.8% from a year earlier, in line with forecasts. This subdued inflation is in stark contrast to the situation in many other countries struggling with rising prices. Weak domestic demand in China appears to be the main culprit. “The risk of deflation has not disappeared,” noted Zhiwei Zhang, chief economist at Pinpoint Asset Management, who pointed to sluggish domestic consumption as a ...
Trump-Influenced RNC Platform Emphasizes Social Security, Medicare, Softens Language on Abortion
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Trump-Influenced RNC Platform Emphasizes Social Security, Medicare, Softens Language on Abortion

On Monday, the Republican National Committee (RNC) adopted a new platform, heavily influenced by former President Donald Trump. The revised platform introduces significant changes to previous GOP positions on marriage and abortion, while making ambitious economic promises. Key economic commitments include ending inflation, transforming the United States into a manufacturing powerhouse, and implementing deep tax cuts for workers. The platform aligns with Trump's pledges to maintain funding for Social Security and Medicare, two widely supported but expensive government programs. The new 16-page platform, much shorter than those from the 2016 and 2020 cycles, passed by a vote of 84 to 18, according to a person familiar with the proceedings. It reflects a shift toward Trump’s populis...
Sun Valley Summit: Tech, Media Giants Gather to Discuss Streaming Strategy
Business

Sun Valley Summit: Tech, Media Giants Gather to Discuss Streaming Strategy

This week, media and tech giants will gather in Sun Valley to discuss the future of streaming and explore potential strategic alliances. Allen & Co.’s annual conference, known as “billionaires’ summer camp,” kicks off Tuesday at a ski lodge in Idaho. Since 1983, the event has been the birthplace of major media deals and a space for industry leaders to discuss the future of their businesses and the broader economy. The guest list for Sun Valley includes media leaders like Warner Bros. Discovery’s David Zaslav; Disney’s Bob Iger and his potential successors Dana Walden, Alan Bergman, Josh D’Amaro and Hugh Johnston; as well as Netflix co-CEOs Ted Sarandos and Greg Peters; along with tech titans like Amazon’s Andy Jassy and Jeff Bezos; and Apple CEO Tim Cook. While these moguls are regular gu...