Shareholders vote on Nelson Peltz and Bob Iger

Shareholders vote on Nelson Peltz and Bob Iger

Bob Iger poses with Mickey Mouse attends Mickey’s 90th Spectacular at The Shrine Auditorium on October 6, 2018 in Los Angeles. Valerie Macon | AFP | Getty Images Disney shareholders on Wednesday reelected the media conglomerate’s full board, preliminary results show, handing a stinging defeat to activist Nelson Peltz and former Marvel CEO Ike Perlmutter, both of whom agitated for change at one of America’s most storied companies. The widely expected victory caps a combative months-long process and affirms the board’s decisions, from the move to bring back CEO Bob Iger to his efforts to re-invigorate the $223 billion media...

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Fed’s Mester still expects rate cuts this year, but rules out May

Fed’s Mester still expects rate cuts this year, but rules out May

Cleveland Federal Reserve President Loretta Mester said Tuesday she still expects interest rate cuts this year, but ruled out the next policy meeting in May. Mester also indicated that the long-run path is higher than policymakers had previously thought. The central bank official noted progress made on inflation while the economy has continued to grow. Should that continue, rate cuts are likely, though she didn’t offer any guidance on timing or extent. ”I continue to think that the most likely scenario is that inflation will continue on its downward trajectory to 2 percent over time. But I need to see...

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Brent, WTI add to first quarter gains

Brent, WTI add to first quarter gains

A pump jack operates in front of a drilling rig at sunset in an oil field in Midland, Texas U.S. August 22, 2018. Nick Oxford | Reuters Crude oil futures rose on the first day of second-quarter trading Monday amid reports that the Iranian consulate in Damascus, Syria, was hit by a missile strike. The West Texas Intermediate contract for May delivery gained $1.28, or 1.54%, to $84.45 a barrel. The Brent contract for June delivery added 93 cents, or 1.07%, to $87.93 a barrel. Syrian and Iranian state media said Monday that an Israeli missile strike hit the Iranian...

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In tech rivalry with US, China is behind on key asset: Its own OpenAI

In tech rivalry with US, China is behind on key asset: Its own OpenAI

People learn about Baidu’s artificial intelligence chatbot service Ernie Bot during the 2nd Global Digital Trade Expo at Hangzhou International Expo Center on November 23, 2023 in Hangzhou, Zhejiang Province of China.  China News Service | China News Service | Getty Images Nvidia’s rocket-ship ride in the stock market underscores the extent to which chip quality and availability will dictate the winners in the generative AI era. But there’s another aspect to measuring early leads in the space. In China, which is angling to produce its own chips or get more from Nvidia, no dominant gen AI contender to OpenAI...

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Why you’re seeing the term ’high-functioning’ all over social media

Why you’re seeing the term ’high-functioning’ all over social media

On TikTok you’ll find millions of users diagnosing themselves using the term ”high-functioning” — high-functioning anxiety, high-functioning depression, high-functioning autism. The term ”high-functioning” isn’t actually clinical, but, generally, it refers to those who perform well in work and in school. So if someone has high-functioning depression, it means they are excelling at their job, despite being in poor mental health. After the pandemic, when levels of depression and anxiety both spiked, people became more aware of the fact that you can have depression or anxiety and still be excelling in certain parts of your life, says Irina Gorelik, a psychologist...

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World’s biggest shipping firm dumps port cargo problem on U.S. companies

World’s biggest shipping firm dumps port cargo problem on U.S. companies

MSC, the largest ocean carrier in the world, has joined the list of ocean carriers terminating the delivery of diverted containers outside of the port for shipping clients as a result of the container ship accident near the Port of Baltimore that led to the tragic bridge collapse. With the Baltimore port indefinitely closed, the decision places the onus of cargo pick up at a diverted port and transport to its final destination on the shipper. In an email to customers obtained by CNBC on Thursday, MSC explained that for customer containers already on the water bound for the Port...

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FTX founder Sam Bankman-Fried sentenced to 25 years for crypto fraud

FTX founder Sam Bankman-Fried sentenced to 25 years for crypto fraud

FTX founder Sam Bankman-Fried was sentenced to 25 years in prison on Thursday for the massive fraud and conspiracy that doomed his cryptocurrency exchange and a related hedge fund, Alameda Research. The sentence in Manhattan federal court was significantly less than the 40 to 50 years in prison that federal prosecutors wanted for Bankman-Fried. But it was much more than the five to six-and-a-half years suggested by his attorneys. ”There is a risk that this man will be in position to do something very bad in the future,” Judge Lewis Kaplan said before sentencing the 32-year-old and ordering him to...

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Trump selling $60 ’God Bless the U.S.A.’ Bibles with Lee Greenwood

Trump selling $60 ’God Bless the U.S.A.’ Bibles with Lee Greenwood

Former U.S. President and Republican presidential candidate Donald Trump addresses the Pray Vote Stand Summit, organized by the Family Research Council in Washington, September 15, 2023. Jonathan Ernst | Reuters Donald Trump on Tuesday started promoting a line of pricey Bibles in partnership with country music star Lee Greenwood, whose song ”God Bless the U.S.A.” is omnipresent at the former president’s political rallies. ”All Americans need a Bible in their home, and I have many,” Trump said in a video on Truth Social announcing the business deal. ”It’s my favorite book. It’s a lot of people’s favorite book,” he said....

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Logistics scramble after bridge collapse closes Port of Baltimore

Logistics scramble after bridge collapse closes Port of Baltimore

The steel frame of the Francis Scott Key Bridge sits on top of the container ship Dali after the bridge collapsed, Baltimore, Maryland, on March 26, 2024.  Roberto Schmidt | Afp | Getty Images Logistics companies up and down the East Coast were urgently relaying messages back and forth to clients Tuesday on the status of their imports and exports after the Port of Baltimore was shut down in response to the collapse of the city’s Francis Scott Key Bridge. A massive rescue effort was underway Tuesday morning. ”Our first priority is engaging clients to make plans for containers that...

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Britain blames China for hack that accessed data of millions of voters

Britain blames China for hack that accessed data of millions of voters

LONDON — The U.S. and U.K. on Monday accused hackers linked to the Chinese state of being behind ”malicious” cyber campaigns targeting political figures, in moves expected to stoke tensions with Beijing. The British government also alleged that China-affiliated hackers were behind an attack that saw the data of millions of voters accessed. ”I can confirm today that Chinese state-affiliated actors were responsible for two malicious cyber campaigns targeting our democratic institutions and parliamentarians,” British Deputy Prime Minister Oliver Dowden said in a speech to Parliament on Monday. Dowden attributed a hack on the Electoral Commission, the independent agency tasked...

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