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Attendee inspect Smith and Wesson firearms at the National Rifle Association's (NRA) annual meeting, in Indianapolis, Indiana, U.S., April 28, 2019. REUTERS/Bryan WoolstonRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - The U.S. House Oversight Committee has subpoenaed Smith & Wesson Brands Inc (SWBI.O) for information on its AR-15 style firearms sales and marketing after the gunmaker's chief executive refused to appear before lawmakers last month, it said in a statement.The panel, led by Democratic U.S. Representative Carolyn Maloney, cited incomplete data and gaps in the company's metrics in seeking documents from the firearms manufacturer, citing a copy of the letter notifying CEO Mark Smith of the congressional summons."This subpoena was made necessary by your unwillingness to voluntarily comply with the Committee’s investigation, including your refusal to testify about your company’s troubling business practices ... and your refusal to voluntarily produce key information about your company’s sale of assault weapons to civilians," Maloney wrote in a letter to Smith.Register now for FREE unlimited access to Reuters.comRepresentatives for Smith & Wesson did not immediately respond to a request for comment on the subpoena, first reported by the Washington Post.The panel had summoned Smith along with the CEOs of Sturm, Ruger & Co (RGR.N) and privately held Daniel Defense to appear July 27 following a string of mass shootings as U.S. lawmakers grappled for ways to address America's gun violence.At the hearing, lawmakers pressed the two CEOs who did appear for details on the marketing of assault-style weapons used in recent shootings at a Texas elementary school, a New York grocery store and a Illinois Independence Day parade. read more Maloney on Tuesday said Smith & Wesson's Smith initially agreed to appear voluntarily but then "abruptly withdrew" five days before the hearing.The U.S. House of Representatives on Friday passed a bill that would ban assault-style rifles but the legislation is likely to face defeat in the 50-50 divided Senate where it would need 60 votes to move forward. read more Congress, however, in June did approve a bipartisan bill with some more modest safety measures including tougher background checks. U.S. President Joe Biden signed it into law June 25. read more Register now for FREE unlimited access to Reuters.comReporting by Susan Heavey; Editing by Andrew Cawthorne, Bernadette Baum and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

U.S. panel subpoenas Smith & Wesson over assault rifle data.

Billionaire hedge fund manager Bill Ackman is taking a vocal stance against Visa, saying the credit card giant has the power to pressure Pornhub to remove child pornography from its site."My interest comes from the fact that I have four daughters," Ackman said Tuesday on CNBC's "Squawk Box." "When you think about the worst harm — economic, physical, mental harm you can impact upon a human being — it's having a child trafficked ... video of the rape appear. I find it hard to talk about it."A federal judge in California on Friday denied Visa's motion to dismiss a lawsuit by a woman who accuses the payment processor of knowingly facilitating the distribution of child pornography on Pornhub and other sites operated by parent company MindGeek.The woman is suing Visa and MindGeek over a sexually explicit video her boyfriend filmed of her when she was 13. U.S. District Judge Cormac Carney in California denied parts of Visa's motion to be dismissed from her claims."It is simple," Carney said in his ruling. "Visa made the decision to continue to recognize MindGeek as a merchant, despite its alleged knowledge that MindGeek monetized child porn. MindGeek made the decision to continue monetizing child porn, and there are enough facts pled to suggest that the latter decision depended on the former." The Pershing Square CEO had called on Visa and Mastercard in late 2020 to temporarily withhold payments to Pornhub after a New York Times column by Nicholas Kristof brought the issue to light."Remarkably, the company, despite being entirely aware that there's child pornography on these sites, they continue to provide payment services, until the Kristoff article, and then they shut down the sites overnight which would have bankrupted them," Ackman said Tuesday. "Within a matter of weeks they re-authorized the merchants and started accepting payments again and the crime continues."Ackman said he has no economic stake in Visa, Mastercard or any payments company. He said he offered to help finance lawsuits philanthropically against Visa.The hedge fund manager said he believes that this is one of the most egregious corporate governance failures he has witnessed and the company and its board could be faced with huge liabilities."It's an extreme measure when Visa or Mastercard shuts down a merchant, but a merchant's business is fundamentally illegal," Ackman said. "There's traditional breach of fiduciary duty when a company has a product or service that can cause harm."A Visa spokesperson told CNBC that the payments giant condemns sex trafficking, sexual exploitation, and child sexual abuse materials."This pre-trial ruling is disappointing and mischaracterizes Visa's role and its policies and practices. Visa will not tolerate the use of our network for illegal activity," the spokesperson said. "We continue to believe that Visa is an improper defendant in this case."

Bill Ackman blasts Visa, saying it has the power to pressure Pornhub to remove child pornography.

The inside of Macerich's Tysons Corner Center in Virginia.MacerichThe biggest shopping mall owners in the United States say retailers are still forging ahead with plans to open new stores in spite of growing recession fears and decades-high inflation that's squeezing shoppers' budgets.Simon Property Group, the country's largest mall owner, said the pipeline of businesses slated to open up at its properties remains strong. The company reported an occupancy rate at its U.S. malls and outlet centers of 93.9% as of June 30, up from 91.8% a year earlier."Even with with what's going on in the world, we really haven't seen anyone back out of deals," Simon Property Chief Executive Officer David Simon said on an earnings conference call Monday."We're seeing a big rebound in Vegas, Florida is on fire ... California is finding its legs," he added.Fueling the openings are a mix of factors, including retailers pushing to snap up limited space and popular online brands looking to expand by opening up brick-and-mortar locations. Some retailers are eyeing real estate in markets outside of major cities as they follow people who uprooted to find bigger spaces during the pandemic. And companies including Macy's that shuttered stores in recent years are now testing different formats, often with smaller footprints.So far this year, retailers in the U.S. have announced 4,432 store openings, compared with 1,954 closings, according to data from Coresight Research, resulting in a net of 2,478 openings.Before the pandemic, the industry was seeing net closures of thousands of stores every year as consumers increasingly moved their spending online. In 2019, Coresight tracked 9,832 closures, compared with 4,689 openings. Last year, the retail industry eked out a net addition of 68 stores."Retailers are not going to pull back on store growth," said Naveen Jaggi, president of the retail advisory team at JLL, a commercial real estate services firm. "They're going to continue to grow because that's one of the ways that they can send a message to the market that, 'We're healthy and safe'."The optimism from retail real estate owners comes amid warning signs from across the industry. In recent weeks, retailers including Walmart, Target, Best Buy, Gap and Adidas slashed their sales or profit outlooks as consumers squeezed by higher gas and grocery bills reign in spending on other items. At the same time, though, luxury retailers including Birkin bag maker Hermes and Louis Vuitton parent LVMH say profits are strong and sales are growing as higher-income consumers continue to splurge on pricey fashion and accessories.At its malls, Simon Property also said it's noticing a split in behavior. Consumers who shop at value-oriented retailers are more likely to be pulling back, Simon said, as are younger shoppers who don't earn as much money. Among those seeing softening sales are the company's teen and fast-fashion retailers Aeropostale and Forever 21, as well as its J.C. Penney department store chain, he said.But he said businesses like men's suit retailer Brooks Brothers, which Simon Property also owns, continues to ring up sales."The higher-income consumer is still spending money," Simon said.Macerich, which operates malls including Tysons Corner Center in Virginia and Scottsdale Fashion Square in Arizona, noted that distress in the retail industry has slowed dramatically after a pandemic-spurred wave of closures in 2020."Clearly, there are economic uncertainties due to inflation, rising interest rates and the war in Ukraine," Macerich CEO Thomas O'Hern said on a conference call last Thursday. "However, we continue to expect gains in occupancy, net operating income and cash flow from operations through the remainder of this year and into next year."Macerich said its leasing activity in the second quarter reflected retailer demand at levels not seen since 2015. The company also said it recently polled around 30 of its biggest national tenants and found that roughly 90% have not changed their plans to open new locations this year and next.Also fueling store openings are retailers that started online and are now looking to expand with physical locations, said Douglas Healey, senior executive vice president of leasing at Macerich. Those include athletic apparel brands Fabletics, Alo Yoga and Vuori, shoe maker Allbirds and the furniture chain Interior Define, he said.Macerich said it signed 274 leases in the quarter ended in June, up 27% from a year earlier and up 42% from pre-Covid 2019 levels.Conor Flynn, CEO of shopping center owner Kimco, said he has "cautious optimism" about the state of business, given the pressures on consumers. Some retailers are taking advantage of tough times to snag vacant storefronts they will want in years to come, he said on a conference call last Thursday.Construction of new retail space has also hit the brakes for the most part during the pandemic, according to David Jamieson, Kimco's chief operating officer. He said that has put more pressure on businesses to compete for the best available spaces.The availability of retail space at all types of properties including malls in the U.S. hit a 10-year low in the second quarter, according to CBRE, a real estate services and investment firm.The plans for new openings come even as visits to malls and shopping centers appears to be slowing this summer amid inflationary pressures, though analysts and executives say those who do visit are more likely to buy something.Simon said it reported record sales of $746 per square foot at its malls and the outlets combined, in the second quarter.Visits to indoor U.S. malls in June rose 1.5% compared with the prior year, marking the smallest gain so far this year, according to Placer.ai, a retail analytics firm. Visits to outlet centers dropped 6.7%. The distance that it takes many consumers to drive to outlet centers has resulted in a falloff in visits as gas prices remain inflated, Placer.ai said.

Mall owners say retailers are still opening stores in spite of recession fears.

Politics August 2, 2022 / 12:01 PM / CBS News Widow advocates for change Police officer's widow advocates for change after husband's Jan. 6-related suicide 09:48 Washington — The Senate on Monday approved a bill that allows the families of public safety officers who die by suicide to seek death benefits, sending the measure to President Biden's desk for his signature.The legislation, called the Public Safety Officer Support Act, was passed by the upper chamber by unanimous consent and was part of an effort to recognize the mental toll that traumatic events — including the Jan. 6, 2021, attack on the U.S. Capitol — have on the law enforcement officers on the frontlines. The House cleared the bill in May with overwhelming bipartisan support, though 17 Republican lawmakers voted against it.Crucial in pressing Congress to clear the measure was Erin Smith, whose husband, Metropolitan Police Department officer Jeffrey Smith, died by suicide in the aftermath of the Capitol assault. A 12-year veteran of the department, Jeff Smith was the target of several assaults after responding to the mob of rioters who breached the Capitol. He ended his own life nine days after the Jan. 6 attack.  Erin Smith fought for more than a year to have his death designated as a line-of-duty death, and the District of Columbia recognized in March that the injury her husband sustained on Jan. 6 while performing his duties was the "sole and direct cause" of his death."I'm gratified at the bill's passage and thank the Senate for unanimously passing this bill and for forever changing the conversation on police silent injuries," she said in a statement to CBS News. "I'm calling on the White House to have a public bill signing in which all of the widows of Jan. 6 can attend to have the sacrifices of their loved ones recognized." From left, U.S. Capitol Police Officer Harry Dunn; D.C. Metropolitan Police Officer Daniel Hodges; Erin Smith, the widow of D.C. Metropolitan Police Officer Jeffrey Smith; Capitol Police Sgt. Aquilino Gonell, and Michael Fanone, a former D.C. Metropolitan Police Officer, arrive for a hearing of the House Jan. 6 committee on Thursday, June 9, 2022. Tom Williams/CQ-Roll Call, Inc via Getty Images The White House did not immediately return a request for comment. Introduced by Reps. David Trone and Guy Reschenthaler and Sens. Tammy Duckworth and John Cornyn, the bill expands the Public Safety Officers' Benefits Program to cover officers who die by suicide or become permanently disabled because of traumatic service-related experiences. While the program currently covers only physical injuries, the legislation would allow public safety officers to seek disability benefits for post-traumatic stress disorder tied to severe trauma. It also recognizes suicide as a line-of-duty death, allowing the families of first responders who take their own lives to seek death benefits.Duckworth cheered the measure's passage Monday, writing on Twitter that it will "help ensure surviving family members of public safety officers who died by suicide are eligible to receive support their loved ones earned through a life of service.""Next up, the president's desk!" she tweeted.  Trone, too, celebrated the bill's passage by the Senate and said Mr. Biden's signature will ensure officers' families will get essential benefits. The measure was introduced in the Senate in February, more than a year after the Jan. 6 assault, during which U.S. Capitol Police officers and members of the Washington, D.C., Metropolitan Police Department were confronted by a violent mob of former President Donald Trump's supporters attempting to stop Congress from tallying state electoral votes. Four law enforcement officers who responded to the Jan. 6 attack died by suicide within seven months of the insurrection. More than 140 officers with the Capitol Police and Metropolitan Police Department were injured in the Capitol riot, according to the U.S. Capitol Police Labor Committee.Washington, D.C., like many jurisdictions, did not consider suicide a line-of-duty death, and Erin Smith lost her health insurance and income following her husband's death. But in March, the District of Columbia recognized Jeff Smith's death as in the line of duty. The city's Police and Firefighters Retirement and Relief Board said an injury he sustained during the Jan. 6 assault "was the sole and direct cause of his death," and as a result of the line-of-duty designation, Erin Smith could claim financial benefits and ceremonial honors for her husband.Erin Smith now is fighting to have her husband inurned at Arlington National Cemetery, where U.S. Capitol Police Officer Brian Sicknick, who died of natural causes a day after defending the Capitol, was laid to rest in February 2021."I call on the president and the secretary of the Army to allow me to inurn my husband at Arlington National Cemetery so that he may rest next to U.S. Capitol Police Officer Brian Sicknick," she said. "There is no longer any doubt that he died a hero and in the line of duty in service to his nation."Cornyn told CBS News in March that the Capitol attack was a "traumatic event" not only for those who were in the building, but especially for law enforcement officers who responded and were "overwhelmed" by the rioters. He said then that it was "entirely appropriate" for officers who develop mental health issues after traumatic events to be covered by the benefits program. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Senate approves bill extending benefits to families of officers who die by suicide, sending it to Biden.

Billboard ad of fantasy game "Genshin Impact" from Shanghai-based developer Mihoyo is pictured in Hong Kong, China October 20, 2020. REUTERS/Pei LiRegister now for FREE unlimited access to Reuters.comHONG KONG, Aug 3 (Reuters) - Unity Software Inc(U.N), the U.S. developer best known for software used to design video games, is in talks to spin off its China unit to help it expand in the world's biggest games market, four people with knowledge of the matter told Reuters.San Francisco-based Unity has sought strategic investors to join it in a business valued at over $1 billion during talks, said two of the people, declining to be identified as they were not authorised to speak publicly on the matter.Unity declined to comment.Register now for FREE unlimited access to Reuters.comThe talks come as strained Sino-U.S. relations exacerbate sensitivities over technology transfer and data handling across borders, prompting tech firms to reappraise their operations in China. At the same time, there is growing interest in expanding game-making software to new technologies such as the so-called metaverse, an immersive three-dimensional internet.Unity entered China in 2012 and its eponymous software, known as a game engine, powers many of the country's most popular games such as "Honor of Kings" from gaming leader Tencent Holdings Ltd(0700.HK) and miHoYo's "Genshin Impact".Rivals include Tencent-backed Epic Games, the U.S. developer of the increasingly popular Unreal Engine 5.Unity's spin-off plan is being driven by a desire to see its software used more extensively in China in areas as varied as smart city modelling to industrial design, as well as in the metaverse, two of the people said. Potential investors Unity has been speaking to have made big bets on the metaverse, they said.With China tightening data handling regulation, Unity believes a spin-off would aid this expansion as it would give the unit more local ownership and autonomy over how it operates in the country, which could also increase its attraction to local government and state-owned partners, the people said.The spin-off would be one of China's bigger technology deals this year as investment activity has slowed due to weak economic growth, COVID-19 outbreaks and regulatory tightening.Unity China Chief Executive Zhang Junbo has been working on the plan for at least a year, two of the people said. Progress has been further slowed by Unity's share price sinking 80% since its November 2021 high amid weakness in U.S. tech stocks, and by a product missing performance expectations, they said.Zhang disclosed Unity's China expansion ambition last month to local tech media outlet 36Kr without mentioning a spin-off, saying Unity was exploring ways to make its technology "safe and controllable" within China - a reference to the government's mandate for important technology to be controlled domestically.He also said Unity would likely hire over a thousand engineers in coming years while expanding offices in Beijing and Guangzhou in addition to its main office in Shanghai.Two of the people said Unity's Shanghai-based employees have been asked to sign contracts with the new entity, and that talks about an operating budget separate to its parent's are ongoing.Register now for FREE unlimited access to Reuters.comReporting by Josh Ye, Julie Zhu and Kane Wu in Hong Kong; Additional reporting by Josh Horwitz in Shanghai; Editing by Brenda Goh and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

EXCLUSIVE U.S. game software developer Unity to spin off China unit to fuel expansion -sources.

Local residents gather to receive financial aid during Ukraine-Russia conflict in the Russia-controlled city of Kherson, Ukraine July 25, 2022. REUTERS/Alexander ErmochenkoRegister now for FREE unlimited access to Reuters.comKYIV, Aug 2 (Reuters) - Ukraine has recaptured 53 settlements in the mostly Russian-occupied southern region of Kherson since the start of Moscow's invasion, the regional governor said on Tuesday.Russia captured swathes of southern Ukraine in the first phase of its Feb. 24 invasion. Ukraine is now pledging to conduct a major counter-offensive to retake land and has used Western-made long-range weapons to hit Russian supply lines."As of now, 53 settlements have been confirmed as liberated," acting governor Dmytro Butriy said on national television.That figure was nine settlements more than the number he gave on Monday, which appeared to indicate a quickening tempo of Ukrainian gains in the region.Register now for FREE unlimited access to Reuters.comReporting by Max Hunder; editing by Tom Balmforth and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Ukraine has recaptured 53 settlements in Russian-occupied Kherson region - governor.

Register now for FREE unlimited access to Reuters.comMARATHON, Fla., Aug 1 (Reuters) - Florida's sea turtles are grappling with a gender imbalance made worse by climate change. Recent heat waves have caused the sand on some beaches to get so hot that nearly every turtle born was female."The frightening thing is the last four summers in Florida have been the hottest summers on record," said Bette Zirkelbach, manager of the Turtle Hospital in Marathon, a city in the Florida Keys, a string of tropical islands stretching from the southern end of the state."Scientists that are studying sea turtle hatchlings and eggs have found no boy sea turtles, so only female sea turtles for the past four years," Zirkelbach said, whose turtle center has operated since 1986.Register now for FREE unlimited access to Reuters.comWhen a female turtle digs a nest on a beach, the temperature of the sand determines the gender of the hatchlings. Zirkelbach said an Australian study showed similar statistics - "99% of new sea turtle babies are female."Instead of determining sex during fertilization, the sex of sea turtles and alligators depends on the temperature of developing eggs, according to the National Oceanographic Atmospheric Administration (NOAA).A Loggerhead turtle is held at the Turtle Hospital, the first licensed veterinarian sea turtle hospital in the world, in Marathon, Florida, U.S., July 29, 2022. REUTERS/Maria Alejandra Cardona TPX IMAGES OF THE DAYIf a turtle's eggs incubate below 81.86 Fahrenheit (27.7 Celsius), the turtle hatchlings will be male, whereas if they incubate above 88.8 F (31C), they will be female, according to NOAA'S National Ocean Service website."Over the years, you're going to see a sharp decline in their population because we just don't have the genetic diversity," said Melissa Rosales Rodriguez, a sea turtle keeper at the recently opened a turtle hospital at the Miami Zoo. "We don't have the male-to-female ratio needed in order to be able to have successful breeding sessions."The two turtle hospitals are also battling tumors in turtles known as fibropapillomatosis, also known as FP. These tumors are contagious to other turtles and can cause death if not treated.With climate affecting the future of turtles and the disease being so widespread, Zirkelbach sees the need to save every turtle she can and open more rehab centers."The Turtle Hospital was the first. But, sadly and fortunately, there's a need all throughout Florida."Register now for FREE unlimited access to Reuters.comReporting by Maria Alejandra Cardona; Editing by Lisa Shumaker and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Hotter summers mean Florida's turtles are mostly born female.

Vials labelled "VACCINE Coronavirus COVID-19" and a syringe are seen in front of a displayed EU flag in this illustration taken December 11, 2021. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comBRUSSELS/BARCELONA, Aug 2 (Reuters) - The European Commission said on Tuesday it had signed a joint procurement contract with Spanish pharmaceutical firm HIPRA for the supply of its protein COVID-19 vaccine, which will be available if approved by the European Medicines Agency (EMA).The European Union's executive said in a statement that 14 countries are participating in the agreement, under which they can purchase up to 250 million doses.HIPRA hopes its vaccine, which is under a rolling review by the EMA, will be approved and ready to be administered by the autumn, the Spanish company said in a statement, calling the EU's announcement a "sign of confidence" in its shot.Register now for FREE unlimited access to Reuters.comEuropean Commissioner for Health Stella Kyriakides said in the EU statement that with COVID-19 infections on the rise in Europe, "we need to ensure maximum preparedness as we head into the autumn and winter months"."The HIPRA vaccine adds yet another option to complement our broad vaccine portfolio for our member states and citizens," she said, adding that an increase in vaccination and boosting would be essential over the coming months.The HIPRA bivalent recombinant protein vaccine is being developed as a booster dose in previously immunised persons 16 years and older. It uses a recombinant protein like that of U.S. based drugmaker Novavax (NVAX.O).A HIPRA top executive told Reuters in December it was confident there would be EU demand for its experimental COVID-19 vaccine as it is designed to protect against new variants, can be moved easily in low temperatures and be produced in mass quantities. read more HIPRA, which specialised in veterinary vaccines for some 50 years and operates in more than 100 countries, had already sealed a purchase deal for 50 million doses with Vietnam, where it conducted tests.Register now for FREE unlimited access to Reuters.comReporting by John Chalmers and Joan Faus, editing by Marine Strauss and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

EU signs joint procurement deal with Spain's HIPRA for COVID vaccines.

SummaryBout dubbed 'the merchant of death' and 'sanctions buster'Was among most wanted men in world before 2008 arrestClients included rogue states, warlords in Asia, AfricaLikely had ties to Russian intelligence, experts sayMoscow has long sought his release from long US jail termLONDON, Aug 1 (Reuters) - The life of Viktor Bout, the Russian arms dealer jailed in the United States and linked to a possible swap for two U.S. citizens detained by Moscow, sometimes reads like a far-fetched spy thriller.Variously dubbed “the merchant of death” and “the sanctions buster” for his ability to get around arms embargoes, Bout, 55, was one of the world’s most wanted men prior to his 2008 arrest on multiple charges related to arms trafficking.For almost two decades, Bout became the world’s most notorious arms dealer, selling weaponry to rogue states, rebel groups and murderous warlords in Africa, Asia and South America.Register now for FREE unlimited access to Reuters.comHis notoriety was such that his life helped inspire a Hollywood film, 2005’s Lord of War, starring Nicholas Cage as Yuri Orlov, an arms dealer loosely based on Bout.Even so, Bout’s origins remained shrouded in mystery. Biographies generally agree that he was born in 1967 in Dushanbe, then the capital of Soviet Tajikistan, close to the border with Afghanistan.A gifted linguist, who later used his reported command of English, French, Portuguese, Arabic and Persian to build his international arms empire, Bout reportedly attended the Dushanbe Esperanto club as a young boy, becoming fluent in the artificial language.A stint in the Soviet army followed, where Bout has said he achieved the rank of lieutenant, serving as a military translator including in Angola, a country that would later become central to his business.Bout’s big breakthrough came in the days after the 1989-91 collapse of the Communist bloc, cashing in on a sudden glut of discarded Soviet era weaponry to fuel a series of fratricidal civil wars in Africa, Asia and beyond.With the Soviet Union’s vast air fleet disintegrating, Bout was able to acquire a squadron of around 60 old Soviet military aircraft based out of the United Arab Emirates, by which he could supply his products around the world.BUSINESS OVER POLITICSA 2007 biography entitled "Merchant of Death: Guns, Planes, and the Man Who Makes War Possible" by Douglas Farah and Stephen Braun reported the following details of Bout's shadowy trade.From a base in the Gulf emirate of Sharjah, he interwove his arms trafficking empire with a seemingly innocuous logistics business, always insisting when queried that he was a legitimate entrepreneur with respectable clients and no case to answer.Even so, Bout, who first appeared on the CIA's radar amid reports of a shadowy Russian citizen trading arms in Africa, was by the turn of the millennium one of the most wanted men in the world.But Bout, whose clients included rebel groups and militias from Congo, to Angola and Liberia, had little in the way of firm ideology, tending to place business above politics.In Afghanistan, he variously sold guns to Islamist Taliban insurgents and their foes in the pro-Western Northern Alliance, according to "Merchant of Death".It said Bout supplied guns to former Liberian President and warlord Charles Taylor, now serving a 50-year prison term for murder, rape and terrorism, to various Congolese factions, and to Philippine Islamist militant group Abu Sayyaf.The end only came in 2008, after an elaborate sting operation by the U.S. Drug Enforcement Administration saw Bout tracked across multiple countries to a luxury hotel in Bangkok.During a spectacular sting operation, Bout was caught on camera agreeing to sell undercover U.S. agents posing as representatives of Colombia's leftist FARC guerrillas 100 surface-to-air missiles, which they would use to kill U.S. troops. Shortly afterwards, he was arrested by Thai police.Suspected Russian arms dealer Viktor Bout is escorted by members of a special police unit after a hearing at a criminal court in Bangkok October 5, 2010. REUTERS/Sukree Sukplang/File PhotoAfter over two years of diplomatic wrangling in which Russia loudly insisted that Bout was innocent and his case politically charged, Bout was extradited to the United States, where he faced a raft of charges, including conspiracy to support terrorists, conspiracy to kill Americans, and money laundering.Bout was tried on the charges related to FARC, which he denied, and in 2012 was convicted and sentenced by a court in Manhattan to 25 years in prison, the minimum sentence possible.Ever since, the Russian state has been keen to get him back.U.S. WILLING TO SWAP BOUT -SOURCEOn July 27, U.S. Secretary of State Antony Blinken said Washington had made "a substantial offer" to Russia to release Women's National Basketball Association (WNBA) star Brittney Griner and ex-U.S. Marine Paul Whelan.Two days later, Blinken said he had a "frank and direct conversation" by phone with Russian Foreign Minister Sergei Lavrov by phone and pressed Moscow to accept the proposal. read more Blinken declined to say what the United States was offering in return for Griner and Whelan. A source familiar with the situation confirmed a CNN report that Washington was willing to exchange Bout as part of a deal. read more Lavrov suggested to Blinken that the two sides return to quiet diplomacy on the issue of prisoner swaps "rather than throwing out speculative information", a Russian foreign ministry statement said.Lavrov has said Bout's extradition from Thailand was "a glaring injustice" and suggested he was innocent.Comments from a 2012 interview with the judge who presided over Bout’s New York City trial that his 25-year sentence was “excessive” have occasionally been seized on by Russian media making the case for Bout’s return home.Earlier this year, speculation rose that Bout was set to be exchanged for Trevor Reed, a U.S. Marine Corps veteran jailed in Russia on assault charges. Reed was ultimately freed in return for Konstantin Yaroshenko, a Russian pilot jailed in the United States on drug trafficking charges.For experts, the Russian state's continued interest in Bout, plus his skills and connections in the international arms trade, hint strongly at Russian intelligence ties.In interviews, Bout has said he attended Moscow's Military Institute of Foreign Languages, which serves as a training ground for military intelligence officers."Bout was almost certainly a GRU agent, or at least a GRU asset," said Mark Galeotti, an expert on the Russian security services at the Royal United Services Institute think tank, referring to Russia's military intelligence service.“His case has become totemic for the Russian intelligence services, who are keen to show that they don’t abandon their own people,” Galeotti added.According to Christopher Miller, a journalist who has corresponded with neo-Nazis imprisoned along with Bout at United States Penitentiary Marion in Illinois, the former arms dealer keeps a photo of Russian President Vladimir Putin in his cell and says he does not believe Ukraine should exist as a state.Reached by Reuters over the WhatsApp messaging service, Bout’s wife Alla, who lives in St Petersburg, said: “We very much hope that everything will be resolved and an agreement will be reached."All that’s left to do is to pray,” she added.Register now for FREE unlimited access to Reuters.comReporting by Reuters Editing by Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

Who is Viktor Bout, arms dealer linked to swap for Americans held by Moscow?.

Morsa Images | DigitalVision | Getty ImagesMany workers who changed jobs recently saw raises from their new paychecks outpace inflation by a wide margin — by nearly 10% or more, according to a new study by the Pew Research Center.The typical American who changed employers in the year from April 2021 to March 2022 got a 9.7% bump in their "real" wages over a year earlier, according to Pew, a nonpartisan research organization, which analyzed federal labor data."Real" wages measure the change in a worker's pay after accounting for inflation, which in June was at its highest level in more than 40 years.More from Personal Finance:Credit card balances jump 13%, most in over 20 yearsEmployee stock purchase plans can carry 'a big risk'Here are the 'most employable' college degreesThe figure cited by Pew represents the median, meaning half of workers who switched jobs got a net pay increase of 9.7% or more. The other half of job switchers got a smaller net raise or saw their net earnings decline.Workers have been leaving their jobs at elevated rates since early 2021 in a trend known as the Great Resignation. Demand for workers boomed as the U.S. economy reopened broadly from its pandemic-era hibernation, leading businesses to compete by raising pay.Workers who switched jobs reaped more of a financial benefit than those who stayed with their employer, Pew found. The median worker who remained at the same job from April 2021 to March 2022 saw their earnings fall by 1.7% after accounting for inflation, according to the study.The dynamic of higher wage growth for job switchers relative to other workers was typical even before the Covid pandemic, but it's likely stronger in the current labor market given how rapidly wages are rising, according to Daniel Zhao, senior economist at the career site Glassdoor."Workers have the most leverage when they go out and switch jobs and find another employer willing to reset their pay to the market level," Zhao said.Employers don't have as much incentive to give big raises to employees who remain in their current roles, because they're implying a willingness to stay put for their current pay, Zhao said. And employers generally give raises just once a year; someone who finds new employment essentially get an extra raise, he said.Job market, still hot for now, may coolA restaurant in Arlington, Virginia, was hiring as of June 3, 2022.Olivier Douliery | AFP | Getty ImagesHowever, U.S. Department of Labor data issued Tuesday suggests a slowdown in the labor market is underway — meaning workers' bargaining power may wane, too.Job openings, an indicator of employer demand for workers, fell to 10.7 million in June, a decrease of about 605,000 relative to May, the agency reported. It was the third consecutive month of declines since March, when there were almost 11.9 million job openings, a record — meaning there may be fewer opportunities to hop to a new job.The Federal Reserve is raising borrowing costs in a bid to cool the economy and labor market to tame stubbornly high inflation. While it generally takes time for that monetary policy to work its way through certain sectors of the economy, employers may be pulling back on hiring plans in anticipation of a slowdown, Zhao said."It does seem like worker power during the last two years was likely strongest at the end of last year or beginning of this year," Zhao said. "If the job market continues to cool, we should expect to see worker power cool, as well."Despite that relative cooldown, the labor market still appears to be tilted in workers' favor. Job openings remain well elevated from historical levels despite the significant drop in June. Layoffs also declined, meaning employers are hanging onto their existing workers.The level of voluntary departures (quits) — another barometer of worker power — declined slightly from May to June, though as with the level of job openings it is still high in historical terms. However, departures in two sectors — finance and real estate — fell back to pre-pandemic levels in June, suggesting the Great Resignation in those industries has come to an end, Zhao said."At this point in the labor market recovery, a decline in job openings isn't concerning," according to Nick Bunker, an economist at job site Indeed. "A pullback in hiring intentions absent a significant decline in actual hiring is a sign of a cooling labor market, but not one where the temperature is plummeting."The labor market remains hot," he added. "A continued slow cooldown would be more than manageable."

Typical job switcher got a pay raise of nearly 10%, study finds.

U.S. August 2, 2022 / 1:05 PM / CBS News Georgia prosecutor seeks testimony from Trump allies Georgia prosecutor seeks testimony from Trump allies 00:24 Former Trump White House Counsel Don McGahn will be among the lawyers representing Sen. Lindsey Graham in his effort to block a subpoena from a Georgia special grand jury investigating Donald Trump's behavior after losing the 2020 election, court records show.The South Carolina Republican is among a slew of Trump allies subpoenaed since May by the Fulton County special grand jury, which has also heard from Georgia state officials who rebuffed the former president's attempts to overturn the election.Graham was a member of the Senate Judiciary Committee when McGahn shepherded through the nominations of Supreme Court Justices Neil Gorsuch and Brett Kavanaugh. Graham later chaired the committee. McGahn now works for the law firm Jones Day, where he "advises clients on high-stakes matters that require navigating and challenging assertions of government authority," according to his company biography. A spokesperson for Jones Day did not return a request for comment.Graham originally challenged the subpoena in federal court in South Carolina, but that motion was quickly dismissed after attorneys for Fulton County District Attorney Fani Willis argued Georgia is the proper jurisdiction. Graham's subpoena calls for him to testify in August, and Judge Leigh Martin May has set an expedited schedule, requiring both sides to file arguments this week. Prosecutors alleged in Graham's subpoena that he spoke to Georgia Secretary of State Brad Raffensperger after the 2020 election and questioned him "about reexamining certain absentee ballots cast in Georgia in order to explore the possibility of a more favorable outcome" for Trump. President Joe Biden won Georgia by just under 12,000 votes, or 0.5%. Graham has acknowledged the phone calls in the past and dismissed any allegations of wrongdoing, telling "Face the Nation" in January that he "asked about how the system worked when it came to mail-in voting, balloting."Graham's attorneys argued in their motion that he was performing "legislative acts" in inquiring about the election."In making these calls, after the election, Senator Graham was engaged in quintessentially legislative factfinding—both to help him form election-related legislation, including in his role as then-Chair of the Judiciary Committee, and to help inform his vote to certify the election," they wrote. Graham Kates Graham Kates is an investigative reporter covering criminal justice, privacy issues and information security for CBS News Digital. Contact Graham at [email protected] or [email protected] Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Lindsey Graham hires former Trump White House counsel Don McGahn in Georgia election investigation.

People walk by One World Trade Center after US President Joe Biden confirmed the death of al Qaeda leader Ayman al-Zawahiri in Manhattan, New York City, U.S., August 2, 2022. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - Two Hellfire missiles fired from a drone killed the leader of al Qaeda, causing surprisingly little damage beyond the target, suggesting they may be a version shrouded in secrecy and used by the United States to avoid non-combatant casualties.Officials said the missiles killed al Qaeda leader Ayman al-Zawahiri while he stood on a balcony at his home in downtown Kabul, Afghanistan, over the weekend in the biggest blow to the militants since Osama bin Laden was killed in 2011. read more A senior administration official told reporters two Hellfire missiles were fired from an unmanned aerial vehicle at Zawahiri. U.S. officials said no one else was killed or wounded in the attack.Register now for FREE unlimited access to Reuters.comHellfire missiles, mostly made by Lockheed Martin(LMT.N), are precision guided munitions for air-to-ground strikes that normally cause significant damage, taking down whole buildings and killing or severely injury anyone nearby.Social media images of the strike pointed to the hallmarks of a modified Hellfire with six blades to damage targets and called the R9X, sources familiar with the weapon said. It is largely aimed at individual targets, such as militants in Syria.The images showed windows destroyed on the second floor while the structure of the house remained intact despite being hit by Hellfires.Officials believe the R9X is less likely to cause civilian casualties because instead of exploding, the missile cuts through targets with the sharp blades.The MQ-9 Reaper, made by General Atomics, is the only drone that is publicly known to carry the Hellfire missile.A Pentagon spokeswoman referred a query on the R9X missiles to U.S. Special Operations Command, which would be the prime purchaser of the missile.Register now for FREE unlimited access to Reuters.comReporting by Mike Stone and Idrees Ali in Washington; Editing by Howard GollerOur Standards: The Thomson Reuters Trust Principles.

Little-known modified Hellfire likely killed al Qaeda's Zawahiri.

Celsius Network, once a titan of the crypto lending world, is in bankruptcy proceedings and facing down claims that it was running a Ponzi scheme by paying early depositors with the money it got from new users. Some of the 1.7 million customers ensnared by the alleged fraud are now directly pleading with the Southern District of New York to help them get their money back.Christian Ostheimer, a 37 year-old living in Connecticut, wrote in a letter included in court exhibits that he trusted Celsius with his retirement savings and has lost more than $30,000, which has brought him into "unsurmountable tax complications.""It is in your hands, honorable judge to make this a different case were not the lawyers, the attorneys, the big corporations and managers get paid out first but the little man, the mom and pop, the college grad, the granny and grandpa — all those many small unsecured creditors — so that they are not like usual at the end of the chain where they lose everything," writes Ostheimer.The question of who gets repaid first — should that day ever come — looms heavy over the bankruptcy proceedings.At its peak in October 2021, CEO Alex Mashinsky said the crypto lender had $25 billion in assets under management. Now, Celsius is down to $167 million "in cash on hand," which it says will provide "ample liquidity" to support operations during the restructuring process. Celsius owes its users around $4.7 billion, according to its bankruptcy filing.That filing also shows that Celsius has more than 100,000 creditors, some of whom lent the platform cash without any collateral to back up the arrangement. The list of its top 50 unsecured creditors includes Sam Bankman-Fried's trading firm Alameda Research, as well as an investment firm based in the Cayman Islands. Those creditors are likely first in line to get their money back, leaving smaller retail investors holding the bag.Unlike the traditional banking system, which typically insures customer deposits, there aren't formal consumer protections in place to safeguard user funds when things go wrong. Celsius spells out in its terms and conditions that any digital asset transferred to the platform constitutes a loan from the user to Celsius. Because there was no collateral put up by Celsius, customer funds were essentially just unsecured loans to the platform.Also in the fine print of Celsius' terms and conditions is a warning that in the event of bankruptcy, "any Eligible Digital Assets used in the Earn Service or as collateral under the Borrow Service may not be recoverable" and that customers "may not have any legal remedies or rights in connection with Celsius' obligations." The disclosure reads like an attempt at blanket immunity from legal wrongdoing, should things ever go south.On July 19, Celsius published a document detailing next steps for customers. In it, they say their chapter 11 bankruptcy plan will "provide customers with the option, at the customers' election, to recover either cash at a discount or remain 'long' crypto," but it is unclear whether customers will ever see their money again.The entire process lays bare just how much of crypto regulation in the U.S. happens by enforcement.The Securities and Exchange Commission has effectively become one of the industry's top regulators in the country, including weeding out Ponzi and pyramid schemes, and it appears that some precedent will be set in U.S. bankruptcy court in coming months as lawmakers deliberate over formal legislation on Capitol Hill.Pleas from investorsIn the hundreds of letters officially submitted to the court, retail investors beg to be put at the front of the line to receive their money back.Flori Ohm, a single mother of two college-bound daughters, says that her family has been "severely impacted both in financial and mental health" by the bankruptcy which has left her funds stranded on the platform. Ohm, who also supports her parents, says she can't sleep or focus on work."I am struggling hard [to make a] living," she writes.Jeanne Y Savelle, who describes herself as a "little retired old lady" living on a fixed income, says she turned to Celsius in search of a way to supplement her monthly Social Security check to stretch her dollar amid record levels of inflation."I purchased my small amount of crypto hoping just to earn enough to help me weather a few years, kind of a safety net," said Savelle. "Yes, I know, buyer beware but I agree that there has been way too much deception."Others have lost everything.California resident Stephen Bralver says he has less than $1,000 left in his Wells Fargo checking account — now his only source of funds to provide for his family since Celsius suspended all withdrawals."There is absolutely no way that I can continue to provide without access to my assets at Celsius," he writes to Judge Martin Glenn, who is overseeing the Celsius bankruptcy proceedings in New York."This is an EMERGENCY situation, simply to keep a roof over my family and food on their table," continues Bralver's letter.Sean Moran of Dublin writes that he lost the family farm in Ireland and his family is homeless."Can't believe that they lied to us on the weekly AMA about not trusting banks whilst all along they we're wolfs in sheep clothing false promises and misleading information." He continues, "I'm mentally unstable. Family are distraught with my decisions of trusting Celsius and promising them a better future."Beyond the financial devastation described in each of these letters, one recurring theme centers around a sense of betrayal over the breach of trust between Celsius CEO Alex Mashinsky and his customers.Three weeks after Celsius halted all withdrawals due to "extreme market conditions" — and a few days before the crypto lender ultimately filed for bankruptcy protection — the platform was still advertising in big bold text on its website annual returns of nearly 19%, which paid out weekly."Transfer your crypto to Celsius and you could be earning up to 18.63% APY in minutes," read the website on July 3.Ralphael DiCicco, who disclosed holdings of roughly $15,557 in crypto assets on Celsius, said he was fooled by the marketing."I believed in all the commercials, social media and advertising that showed Celsius was a high yield, low risk savings account. We were ensured that our funds are safer at Celsius than in a bank," writes DiCicco."This money is pretty much my life savings...I hope you can find it the best interest of all parties involved to pay back the smaller investors first...before any restructuring occurs," continued DiCicco.Travis Rodgers of Phoenix says that he was told on numerous phone calls to Celsius Network, as recently as two days before it locked depositors' accounts, that there was no danger to client assets and zero probability of bankruptcy. Rodgers says that he recorded several of those calls. He claims his Celsius holdings total $40,000 across eleven cryptocurrencies, including Cardano's token ADA.The weekly ask-me-anything events hosted by Mashinsky on YouTube are mentioned in multiple letters, including one sent in by Stephen Richardson, who itemizes the many ways in which he feels Mashinsky deceived the public in order to lure new customers into the scheme.Richardson says he watched every single Friday AMA since signing up."Alex would talk about how Celsius is safer than banks because they supposedly don't rehypothecate and use fractional reserve lending like the banks do," writes Richardson. "I currently have six figures worth of crypto locked in my Celsius account unable to be withdrawn, despite Alex's claims mere hours before withdrawals were closed that nobody has any issue withdrawing from Celsius and that everything you hear to the contrary is simply 'fud.'"Some have even contemplated suicide if they can't retrieve their funds.Katie Davis appeals to Judge Glenn about the $138,000 that she and her husband have stranded on the Celsius platform."The thought of losing that amount of money is horrifying," Davis writes."If I do not get that back, I will end my life as the loss will impact my family and I significantly," she shares.Mashinsky did not immediately respond to CNBC's request for comment.

Homeless, suicidal, down to last $1,000: Celsius investors beg bankruptcy judge for help.

A man walks past a logo of Alibaba Group at its office building in Beijing, China August 9, 2021. REUTERS/Tingshu WangRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Technology companies, crypto exchanges and financial firms are cutting jobs and slowing hiring as global economic growth slows due to higher interest rates, red-hot inflation and an energy crisis in Europe.In a sign of a tough second half of the year, growth in the world's largest economy, the United States, shrank for the second straight quarter, while in the euro zone business growth slowed sharply in June due to rising cost of living.LAYOFFS:HIRING FREEZES:Source: Company filings, media reportsRegister now for FREE unlimited access to Reuters.comCompiled by Chavi Mehta, Tiyashi Datta, Aditya Soni and Yuvraj Malik in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Factbox: Companies cut jobs, freeze hiring to prepare for economic slowdown.

Alex Jones walks into the courtroom in front of Scarlett Lewis and Neil Heslin, the parents of 6-year-old Sandy Hook shooting victim Jesse Lewis, at the Travis County Courthouse in Austin, Texas, U.S. July 28, 2022. Briana Sanchez/Pool via REUTERS/File PhotoRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - The father of a child killed in the Sandy Hook massacre told a jury that he had endured years of "hell" after U.S. conspiracy theorist Alex Jones claimed the shooting was a hoax.Jones, founder of the Infowars radio show and webcast, is on trial in a Texas court to determine how much he must pay for spreading falsehoods about the killing of 20 children and six staff at Sandy Hook Elementary School in Newtown, Connecticut, on Dec. 14, 2012.Neil Heslin and Scarlett Lewis, the parents of slain 6-year-old Jesse Lewis, are seeking as much as $150 million from Jones and his company, Free Speech Systems LLC.Register now for FREE unlimited access to Reuters.com"I can’t even describe the past nine-and-a-half years of hell I have had to endure because of the negligence and recklessness of Alex Jones and the propaganda he has peddled for his own profits and success," Heslin testified on Tuesday.Heslin described years of harassment and death threats from Jones’ followers, including an incident when a person fired shots at his home while driving past shouting “Infowars” and “Alex Jones" amid what sounded like gunfire.Heslin, who held his son’s body in his hands after the shooting, said he relives the moment every time he hears Jones’ false claims that the shooting never occurred.“I can’t even put into words how difficult it is to lose a child in those circumstances,” he said.Jesse Lewis's mother, Scarlett, later recounted an incident on Christmas morning when a stranger pulled into her driveway and started taking pictures.Lewis keeps a gun in her home for fear of her family’s safety, she said.“I am a single mother and responsible for the safety of both of my boys, and I was not able to keep one of them safe,” she said. “So I am going to keep my surviving son safe."A lawyer for Jones said he had already paid a price after being deplatformed in 2018 and losing millions of viewers.Jones has since acknowledged that the shooting took place. He was expected to take the stand later on Tuesday in his defense, a lawyer for the parents said.The defamation suit in Austin, Texas, where Infowars is based, is one of several brought by families of victims who say Jones's followers harassed them as a result of his false claims.The Sandy Hook gunman, Adam Lanza, 20, used a Remington Bushmaster rifle to carry out the massacre. It ended when Lanza killed himself with the approaching sound of police sirens.Register now for FREE unlimited access to Reuters.comReporting by Jack Queen; Editing by Noeleen Walder, Howard Goller, Bradley Perrett and Mark PorterOur Standards: The Thomson Reuters Trust Principles.

Father of child killed in Sandy Hook says experienced "hell" because of Alex Jones's lies.

Los AngelesRon_Thomas | Getty ImagesAs rising interest rates and surging property values prevent more families from buying a home, the demand for rentals has soared, with the highest rent prices in the sunniest states.  Rent prices for single family homes swelled during the first half of 2022, hitting a national average of $2,495 a month — a 13.4% increase compared to the same period in 2021, according to a new report from national real estate brokerage HouseCanary.While cities in warmer climes like California and Florida dominated the list of highest median rent prices, midwestern states such as Ohio earned the top spots for most affordable rent, the report found.More from Personal Finance:5 markets where home sales are cooling fastestThese 10 U.S. real estate markets are cooling the fastestMillennials' net worth more than doubled during pandemicThe findings come as more Americans, including some six-figure earners, are living paycheck to paycheck amid rising costs.Annual inflation jumped by 9.1% in June, growing at the fastest pace since late 1981, according to the U.S. Department of Labor.5 U.S. metros with most expensive monthly rentsThese U.S. metropolitan real estate markets had the highest median single-family monthly rents during the first half of 2022:Los Angeles; Long Beach, California; Anaheim, California: $4,664San Diego; Carlsbad, California: $4,617Bridgeport, Connecticut; Stamford, Connecticut; Norwalk, Connecticut: $4,352San Jose, California; Sunnyvale, California; Santa Clara, California: $4,294Oxnard, California; Thousand Oaks, California; Ventura, California: $4,259  5 U.S. metros with least expensive monthly rentsThese U.S. metropolitan real estate markets had the cheapest median single-family monthly rents during the first half of 2022.Mobile, Alabama: $1,419Dayton, Ohio; Kettering, Ohio: $1,412Wichita, Kansas: $1,397Akron, Ohio: $1,361Canton, Ohio; Massillon, Ohio: $1,314Remote work may stunt wage growth The pandemic accelerated the trend of leaving expensive coastal cities for more affordable areas as more Americans shifted to remote work.And a record number of U.S. homebuyers are still eyeing cheaper options from cities like San Francisco, Los Angeles and New York, according to a July report from Redfin. However, remote work may come with a hidden cost.While many have enjoyed the perks of remote work, research shows it may stunt wage growth over time, according to a working paper published by the National Bureau of Economic Research. There may be other 'hidden' expenses of movingWhile moving to a cheaper area may slash your rent or mortgage, other unexpected costs may hurt your budget, experts say."Losing your network or your village is a big hidden expense," said certified financial planner Bill Parrott, president and CEO of Parrott Wealth Management in Austin, Texas.Losing your network or your village is a big hidden expense.Bill ParrottPresident and CEO of Parrott Wealth ManagementWithout access to friends and family, costs like childcare, pet sitting and more can add up quickly, he said.And traveling may be more expensive from a smaller city, depending on your airport or transportation options, said Caleb Pepperday, a Pittsburgh-based CFP and wealth advisor at JFS Wealth Advisors."It's best to research some of these costs before moving to a new city to help make your decision," he said.

Rent prices are soaring in these 5 U.S. metros. Here's what to know before moving to a cheaper area.

Politics August 2, 2022 / 2:39 PM / CBS News Washington — The Justice Department has filed a lawsuit challenging an Idaho law that outlaws nearly all abortions in the state, Attorney General Merrick Garland announced Tuesday, marking the first court fight mounted by the Biden administration after the Supreme Court eliminated the constitutional right to an abortion in June.In a press conference announcing the new lawsuit, Garland said Idaho's law, which was enacted in 2020 and takes effect Aug. 25, violates the Constitution and is preempted by federal law, as it is in conflict with the Emergency Medical Treatment and Labor Act (EMTALA). The Justice Department is asking a federal district court in Idaho to invalidate the so-called trigger law and block the state from enforcing it against medical providers. Idaho's attorney general's office did not immediately return a request for comment. "In the days since the Dobbs decision, there have been widespread reports of delays and denials of treatment to pregnant women experiencing medical emergencies. Today, the Justice Department's message is clear: It does not matter what state a hospital subject to EMTALA operates in. If a patient comes to the emergency room with a medical emergency jeopardizing the patients' life or health, the hospital must provide the treatment necessary to stabilize that patient," Garland said. "This includes abortion when that is the necessary treatment." Garland said that any state law that prevents a hospital from fulfilling obligations under EMTALA runs afoul of federal law, and the Idaho statute "seems on its face" to directly conflict with it. The prohibition "will threaten the health of women who come into the emergency room in a really dire medical situation," he added Attorney General Merrick Garland speaks during a news conference at the U.S. Department of Justice on Aug. 2, 2022 in Washington, D.C. Drew Angerer / Getty Images Idaho's law makes it a felony to perform an abortion in most circumstances, and the Justice Department argues in its suit that the measure makes it a criminal offense for doctors to comply with EMTALA, which requires health care providers that receives Medicare funds to provide necessary stabilizing treatment to a mother whose health is at risk and must undergo an emergency abortion. Circumstances that may require a doctor to provide an abortion to stabilize a pregnant mother include ectopic pregnancy, severe preeclampsia or complication from pregnancy that threatens septic infection or hemorrhage, the Biden administration said."Idaho's law would make it a criminal offense for doctors to provide the emergency medical treatment that federal law requires," Garland said. "Although the Idaho law provides an exception to prevent the death of a pregnant women, it includes no exception for cases in which the abortion is necessary to prevent serious jeopardy to the women's health."The lawsuit against the state of Idaho is the first brought by the Justice Department since the Supreme Court overturned Roe v. Wade in late June, returning abortion policy to elected officials and clearing the way for state lawmakers to impose more stringent restrictions or outright bans on abortion.In response to the high court's ruling, President Biden signed an executive order last month that directed his administration to safeguard reproductive rights. Following Mr. Biden's order, Health and Human Services Secretary Xavier Becerra issued new guidance to hospitals notifying them that they must provide emergency abortions if the life of the mother is at risk, as requirements under EMTALA preempt state abortion bans.The Justice Department and White House also convened for the first time Friday a meeting of private law firms, bar associations, law professors and public interest groups to push for legal representation to help protect access to reproductive health services.Associate Attorney General Vanita Gupta, who heads the Justice Department's response to the Supreme Court ruling, said Tuesday that the Idaho law at issue would "chill" providers' willingness to provide abortions when deemed medically necessary and warned it "presumptively criminalizes all abortions." The statute places the burden, Gupta explained, onto doctors who have to prove why the abortion procedure is necessary.

Justice Department sues Idaho over abortion law in first legal challenge since Roe's reversal.

[The stream is slated to start at 2:45 p.m. ET. Please refresh the page if you do not see a player above at that time.]President Joe Biden on Tuesday is set to sign into law a bipartisan bill to invest billions of dollars in domestic semiconductor manufacturing and science research, with the aim of boosting U.S. competitiveness with China and other foreign rivals.The signing marks a win for Biden, who campaigned on reaching across the aisle and has pushed Congress to pass the legislation as a matter of necessity for America's economy and national security.The bill, dubbed the Chips and Science Act, includes more than $52 billion for U.S. companies producing computer chips, as well as billions more in tax credits to encourage investment in chip manufacturing. It also provides tens of billions of dollars to fund scientific research and development, and to spur the innovation and development of other U.S. technologies.The House and Senate passed the bill last week with near-unanimous Democratic support. One-third of Republican senators backed the bill, including Senate Minority Leader Mitch McConnell of Kentucky. Two dozen House Republicans also voted for it, though others withdrew their support on the eve of the final vote after Senate Democrats unveiled plans to quickly pass an unrelated partisan reconciliation bill.Democrats want that tax-and-spending package, helmed by Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.V., to come to a vote before Congress leaves Washington, D.C., for the August recess. They hope to pass it without needing Republican votes in the Senate, where the parties are split 50-50 and Vice President Kamala Harris holds the tie-breaking vote.McConnell had previously warned Democrats that GOP lawmakers wouldn't back the semiconductor bill if they continued to work on a reconciliation package. Talks between Schumer and Manchin on such a package had appeared to sputter weeks earlier — but just hours after the Senate voted to pass the Chips and Science act, the Democrats revealed that they had struck a deal.Republicans reacted angrily, and the House minority whip's office instructed GOP members in a late-night memo to oppose the chips bill when it came to a vote Thursday. "They lied about reconciliation," House Minority Leader Kevin McCarthy, R-Calif., said on the morning of the vote.Democrats, meanwhile, celebrated the bill's passage. "Now it goes to the White House for the president's signature and a better future for our country," House Speaker Nancy Pelosi, D-Calif., said in a ceremony at the Capitol on Friday morning.Advocates say it is vital for the U.S. to boost its production of semiconductors, which are increasingly critical components in a vast array of products including consumer electronics, automobiles, health care equipment and weapons systems.Biden also has blamed the chip shortage for the sky-high inflation that has dogged his presidency. A lack of chips available for new car manufacturing has been linked to soaring prices for used cars, which are pushing inflation higher.The chips have been in short supply during the Covid-19 pandemic. Factory shutdowns at the beginning of the outbreak sidelined chip production in Asia while consumer demand for autos and upgraded home electronics that need the chips surged during the lockdowns. The U.S. share of global chip production also has fallen sharply in recent decades, while China and other nations have invested heavily in the industry.The U.S. makes few of the most advanced types of semiconductors, which are largely produced in Taiwan. Pelosi and a delegation of five House Democrats traveled to that island, the source of significant tensions with China, earlier Tuesday as part of an Asian tour.The speaker said the trip is aimed at reaffirming U.S. ties to its regional allies, including Singapore, Malaysia, South Korea and Japan. But China, which asserts control over Taiwan, has deployed increasingly belligerent rhetoric toward the U.S. in response to the tour.

Watch live: Biden signs bill to boost China competition and U.S. chip production.

A worker assembles a box for delivery at the Amazon fulfillment center in Baltimore, Maryland, U.S., April 30, 2019.Clodagh Kilcoyne | ReutersFederal officials are sharpening their focus on Amazon's workplace safety hazards.Investigators from the Occupational Safety and Health Administration, which is part of the Labor Department, visited Amazon sites near Albany, New York, Denver and Boise, Idaho, on Monday, according to a document viewed by CNBC. The inspections are part of an ongoing probe launched last month by OSHA and the U.S. Attorney's Office for the Southern District of New York. OSHA officials in mid-July visited three other Amazon warehouses in New York, Chicago and Orlando in response to referrals from SDNY prosecutors. The U.S. Attorney's Office said last month that the civil division is investigating potential workplace safety hazards at Amazon warehouses nationwide, as well as possible fraudulent conduct designed to hide injuries from OSHA and other regulators. OSHA inspectors have so far zeroed in on Amazon's injury and illness recordkeeping, ergonomics program and Power Industrial Truck (known as PIT) operations, according to the latest document. PIT roles require employees to drive forklifts or other machinery to reach products on high shelves or move heavy items around the warehouse.Federal prosecutors asked current and former Amazon employees to report information about working conditions via an online form. One question on the survey reads, "Have you seen workers working in unsafe ways to try to meet their productivity/rate requirements?" Another says, "Do you believe that Amazon discourages workers from reporting injuries?"Representatives from OSHA and Amazon didn't immediately respond to requests for comment. Amazon spokesperson Kelly Nantel previously told CNBC in a statement that the company intends to cooperate with OSHA throughout its investigation. "We believe it will ultimately show that these concerns are unfounded," Nantel said.Amazon has repeatedly come under fire for its treatment of warehouse and delivery workers. Critics and lawmakers have pointed to the company's obsession with speed and strenuous quotas as threats to worker safety. Employees often claim they're at risk of discipline and being fired if they fail to meet productivity quotas. Amazon has denied that it uses such quotas in its warehouses, and disputed reports of unsafe working conditions. OSHA investigators have inspected Amazon warehouses on numerous occasions over working conditions, including a tragic warehouse collapse and coronavirus-related health and safety concerns. When an OSHA violation is identified, it typically results in fines that are paltry compared with the hundreds of billions of dollars Amazon hauls in annually.WATCH: A closer look at Amazon's warehouse injuries

Amazon warehouses face expanded probes into safety hazards as investigators visit three more sites.

Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - President Joe Biden has appointed two top federal officials to coordinate his administration's response to monkeypox, the White House said on Tuesday, as more states declared emergencies to help boost vaccines and other resources to combat the virus.The top officials from the Federal Emergency Management Agency (FEMA) and the Centers for Disease Control and Prevention (CDC) will coordinate the U.S. response across the federal government even as Biden's administration has stopped short of declaring a national emergency.The appointments come as the United States aims to bolster vaccination efforts to slow the spread of a monkeypox outbreak that has infected more than 5,800 Americans.Register now for FREE unlimited access to Reuters.com"Over the coming weeks ... the administration will advance and accelerate the United States’ monkeypox response to mitigate the spread of the virus, protect individuals most at risk of contracting the virus, and care for those who have been afflicted with it," the White House said in a statement.California and Illinois on Monday announced a state of emergency over monkeypox, following New York's declaration last week. read more Test tubes labeled "Monkeypox virus positive and negative" are seen in this illustration taken May 23, 2022. REUTERS/Dado Ruvic/IllustrationRobert Fenton, a FEMA regional administrator, will serve as the White House monkeypox coordinator and Demetre Daskalakis, CDC's HIV prevention chief, will serve as deputy coordinator.The pair will coordinate Biden's response "including equitably increasing the availability of tests, vaccinations and treatments," the White House said. The administration has estimated it may need nearly $7 billion to combat the outbreak, according to the Washington Post. read more Unlike when COVID-19 emerged, there are already vaccines and treatments available for monkeypox, which was first documented in Africa in the 1970s. Companies, however, must scale up production to meet rising demand.The first U.S. case of monkeypox was confirmed in Massachusetts in May, followed by another case in California five days later.Monkeypox, which spreads through close physical contact, causes flu-like symptoms and pus-filled skin lesions, though it is rarely fatal. It also spreads less easily than the novel coronavirus.The World Health Organization declared monkeypox a global health emergency on July 23. read more Register now for FREE unlimited access to Reuters.comReporting by Susan Heavey and Alex Alper in Washington, and Shivani Tanna and Akriti Sharma in Bengaluru; Editing by Robert Birsel and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Biden names U.S. monkeypox coordinators as more states cite emergencies.

A Ural Airlines Airbus A321-200 airplane takes off from the airport in Palma de Mallorca, Spain, July 29, 2018. Picture taken July 29, 2018. REUTERS/Paul HannaRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - The U.S. Commerce Department on Tuesday will add 25 Airbus airplanes operated by Russian airlines believed to violate U.S. export controls as part of the Biden administration's sanctions over the Russian invasion of Ukraine, the agency told Reuters.The department has previously identified more than 150 Boeing airplanes and one Gulfstream plane that had flown into Russia from other countries since March 2 or into Belarus since April 8. The rules cover U.S. made airplanes as well as foreign made airplanes that have least 25% U.S. origin content. These are the first foreign airplanes added to the export control list.The 25 Airbus A320, A321 and A330 airplanes are operated by Ural Airlines, S7 Airlines, Red Wings, Yamal Airlines, Nordwind, and I-Fly. The orders aim to deny the airlines access to refueling, spare parts and maintenance services.Register now for FREE unlimited access to Reuters.com“The United States and our partners applied sweeping, powerful export controls to industry sectors – such as aerospace – that Russia leverages to sustain its military aggression,” said Commerce Department Export Enforcement chief Matthew Axelrod in a statement provided to Reuters. "Today's identification of 25 foreign-produced aircraft further degrades Russian airlines’ ability to operate their fleets of both U.S. and EU airplanes."The department has warned companies and other entities around the world that any refueling, maintenance, repair, or spare parts or services violate U.S. export controls and subject companies to U.S. enforcement actions.The department previously issued orders denying export privileges to major Russian airlines including flag carrier Aeroflot (AFLT.MM), Aviastar, Azur Air, Nordwind Airlines, Pobeda, Rossiya, S7 Airlines, and Utair, as well as Belarus’s flag carrier Belavia.The Commerce Department has previously identified two airplanes owned by businessman Roman Abramovich as having likely violated export controls, including a 787 Dreamliner.Register now for FREE unlimited access to Reuters.comReporting by David Shepardson Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

U.S. adds 25 Airbus planes operated by Russian airlines to export violation list.

Earnings are holding up and there are signs that inflation is cooling so, should you be adding to your portfolio? The Investment Committee debates that and more. Plus, Stephanie Link is making several moves in her portfolio – what she sold and the three names she’s adding to. And, Uber posted positive cash flow for the first time ever. More by CNBC

‎Halftime Report: Should You Add to Stocks? 8/2/22 on Apple Podcasts.

d3sign | Moment | Getty ImagesWould-be travelers looking to fly this fall may want to book their plane trips now, with travel app Hopper reporting that airfares are dropping this month from peak summertime prices."September and early October will be the cheapest times to travel, while August and early September will be the cheapest times to book travel for those months," said Hayley Berg, Hopper's lead economist.The app's Late Summer (Q3) Travel Index claims that the average domestic airfare could drop as low as $286 roundtrip for bookings made in August. That's down 25% from May, when average fares topped $400, and is 3% lower than in August of last year.More from Personal Finance:What a recession could mean for youBest money moves after the Fed's interest rate hikesNearly half of all Americans are falling deeper in debtAirfares typically dip 10% to 15% in any given autumn as travel demand slows. "Offering lower airfare in August and September as travelers look to fall season travel is a seasonal occurrence, in line with the airlines' expectations for pricing throughout the year," said Berg.But this year's drop is steeper than normal in the wake of abnormally high spring and summer fares that resulted from factors such as high jet fuel prices and greater-than-usual demand from a pandemic-weary public, she noted.The average airfare for the rest of this year will remain at or below $300 if booked by the end of September before starting to rise again in October and November."We look at a weighted average price, so departures in the next two to three months will be weighted most heavily, [and] most travelers getting low prices in August will be traveling in September and October," said Berg, explaining how Hopper determines the best times to buy and fly.Where to fly … and where fromTravelers departing most significant U.S. air hubs should find good deals this month, according to Hopper."Many major airports are offering lower fares this fall compared to 2019 to major destinations," said Berg. "More than 200- to destinations are priced lower this year from Chicago; Washington, D.C.; Houston; and Atlanta."From New York, Hopper is seeing what Berg called great domestic deals. "We're seeing with airfare to … top destinations as much as 27% lower than 2019 prices." Sample airfares from New York area airports include:Orlando, Florida for $15 ( -7.3% versus 2019)Miami for $140 (-27% versus 2019)Las Vegas for $253 (-5% versus 2019)International flights from major U.S. hubs that are good value include:Washington, D.C., to Lisbon, Portugal for $423Boston to Dublin, Ireland for $452Washington, D.C., to Copenhagen, Denmark for $518Do good fares outweigh airport aggravation?OK, airfares are more affordable. But do cheaper prices compensate for all the potential headaches travelers have been encountering when flying, such as flight cancellations or delays?Berg said flight disruptions will remain a problem, despite temporarily improving last month. Delay rates, for example, had improved in July but then jumped back up to 25% from 18%.Thus, many of the firm's customers are taking "proactive measures to safeguard against potential disruptions," she said, including the purchase of trip insurance products. In fact, 1 in 5 Hopper clients now opt for such protections when booking.

With domestic fares down 25% since spring, now's the time to book flights for fall trips, travel app study finds.

Cast members Jonathan Banks (L) and Bob Odenkirk pose at the premiere for season 3 of the television series "Better Call Saul" in Culver City, California U.S., March 28, 2017. REUTERS/Mario AnzuoniRegister now for FREE unlimited access to Reuters.com(Reuters) - Better call another lawyer.Liberty Tax Service, one of the largest U.S. tax preparers, has sued the companies behind AMC's hit crime drama "Better Call Saul" for what it says was a rip-off of its trademarks and Statue of Liberty logo in depicting the fictional "Sweet Liberty Tax Services" in a recent episode.In a complaint filed on Monday night in Manhattan federal court, Liberty Tax accused AMC Networks Inc and Sony Pictures Television Inc of sowing confusion and causing harm by leading viewers to believe Sweet Liberty was one of Liberty Tax's more than 2,500 offices.Register now for FREE unlimited access to Reuters.comAMC and Sony did not immediately respond to requests for comment on Tuesday.Liberty Tax objected to an April episode when Saul Goodman, an ethically challenged lawyer also known as Jimmy McGill, visits Sweet Liberty, run by his former clients Craig and Betsy Kettleman.Sweet Liberty is housed in the New Mexico desert, in a trailer featuring an inflatable Statute of Liberty and American flag motif, and used by the Kettlemans to skim customers' tax refunds."Out of all the names defendants could have used," the complaint said, "they decided not to be original at all, but instead rip off the famous Liberty Tax trademarks, which have been used for over 25 years.""Given defendants' extensive use and copying of Liberty Tax's trademarks and trade dress, [they] must have intended to evoke an actual Liberty Tax Service location," it added.The lawsuit seeks a halt to any infringements, plus unspecified punitive and triple damages.A lawyer for Virginia Beach, Virginia-based Liberty Tax had no immediate additional comment."Better Call Saul" stars Bob Odenkirk as the title character, and is a prequel to the series "Breaking Bad."It has been nominated for an Emmy for best drama series, with Odenkirk receiving his fifth Emmy nomination for best lead actor in a drama series. "Better Call Saul" will conclude its six-year run this month.The case is JTX Tax LLC v AMC Networks Inc, U.S. District Court, Southern District of New York, No. 22-06526.Register now for FREE unlimited access to Reuters.comOur Standards: The Thomson Reuters Trust Principles.

AMC's 'Better Call Saul' is sued over tax trademark.

The Idaho State Capitol building is seen in Boise, Idaho, U.S., October 29, 2021. REUTERS/Shannon StapletonRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - The United States sued Idaho on Tuesday over a state law that it says imposes a "near-absolute ban" on abortion and also sought to block the Western state from prosecuting or disciplining doctors, according to a court filing.The lawsuit, filed in U.S. District Court for Idaho, seeks a preliminary and permanent injunction against the state prohibiting enforcement of the law and asked the court to rule that the state law violates federal statutes.The lawsuit also alleges the state law interferes with the United States’ pre-existing agreements with hospitals under Medicare, referring to the federal health care program for seniors.Register now for FREE unlimited access to Reuters.com"Today, the Justice Department's message is clear... if a patient comes into the emergency room with a medical emergency jeopardizing the patient's life or health, the hospital must provide the treatment necessary to stabilize that patient," U.S. Attorney General Merrick Garland said at a news conference in Washington announcing the filing."This includes abortion, when that is the necessary treatment," Garland added.Tuesday's lawsuit marks the Justice Department's first legal battle over reproductive rights since the Supreme Court in June overturned the landmark 1973 Roe v. Wade ruling which recognized women's constitutional right to abortion.Idaho in March became the first state to enact a six-week abortion ban modeled on a Texas law that empowers private citizens to sue abortion providers.The law bans abortion before many women know they are pregnant and is modeled after Texas' six-week abortion ban.Register now for FREE unlimited access to Reuters.comReporting by Sarah N. Lynch and Doina Chiacu; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

U.S. sues Idaho over state law that imposes 'near-absolute ban' on abortion.

U.S. August 2, 2022 / 1:47 PM / CBS/AP At least two killed in California wildfire At least two killed in California wildfire 02:32 At least four people have died and more than 100 homes, sheds and other buildings have burned in California's McKinney Fire since it erupted last Friday, officials said. Rain on Sunday and Monday helped firefighters as they worked to control the spread of the fire, but the blaze remained out of control, authorities said.On Monday, search teams found two bodies at two separate homes along Route 96, within the fire's perimeter, bringing the death toll to four, authorities said.Earlier Sunday, two bodies were found inside a charred vehicle in the driveway of a home west of Yreka near the tiny unincorporated community of Klamath River, which sustained major damage, the Siskiyou County Sheriff's Office said in a statement. Other details were not immediately disclosed. "It's really tragic when a fire gets up and moves this fast and basically takes out a community. And that's what happened in the Klamath River area," Mike Lindbery, a spokesperson with the fire's incident management team, said Tuesday. "And unfortunately it didn't only take out a community, it took the lives of two people."The blaze in Northern California near the state line with Oregon has burned more than 55,000 acres, and is the largest of several wildfires burning in the Klamath National Forest. A smaller fire near the tiny community of Happy Camp forced evacuations and road closures as it burned out of control Tuesday. Still more fires are raging in the Western U.S., threatening thousands of homes. Sheriff's Deputy Johnson stands at a burned home as search and rescue workers recover the remains of a McKinney Fire victim on Monday, Aug. 1, 2022, in Klamath National Forest, Calif. Noah Berger / AP When ash began to fall and his throat was burning from the smoke, Franklin Thom decided it was time to leave the small city where he grew up on the edge of a national forest in California. He made it to a shelter with his daughter and just his medicine, some clothes and his shower shoes. Unlike some others, he was told that he had escaped California's largest fire of the year with his home in Yreka still standing."Keep your prayers out for us," said Thom, 55.In northwestern Montana, a fire that started Friday near the town of Elmo on the Flathead Indian Reservation has burned some structures, but authorities said they didn't immediately know if any were homes. The blaze measured 25 square miles on Tuesday, with 10% containment, fire officials said. Some residents were forced to flee Monday as gusting afternoon winds drove the fire.The Moose Fire in Idaho has burned more than 85 square miles in the Salmon-Challis National Forest while threatening homes, mining operations and fisheries near the town of Salmon. It was 23% contained Tuesday, according to the National Interagency Coordination Center. Flames burn to the Klamath River during the McKinney Fire in the Klamath National Forest northwest of Yreka, California, on July 31, 2022. David McNew/AFP via Getty Images And a wildfire raging in northwestern Nebraska led to evacuations and destroyed or damaged several homes near the small city of Gering. The Carter Canyon Fire began Saturday as two separate fires that merged. It was more than 30% contained by Tuesday. California's McKinney Fire grew to become the state's largest wildfire so far this year after it was fed by weekend winds gusting to 50 mph.Cloudy weather and scattered rain continued to help firefighters Tuesday as bulldozers managed to ring the small and scenic tourism destination city of Yreka, with firebreaks. Crews carving other firebreaks in steep, rugged terrain also made progress, fire officials said.The blaze was holding about 4 miles from downtown Yreka, population about 7,500."We've got the weather," said Todd Mack, an incident fire commander with the U.S. Forest Service. "We've got the horsepower. And we're getting after it."But lightning over the weekend also sparked several smaller fires near the McKinney Fire. And despite the much-needed moisture, forests and fields in the region remained bone-dry.Among those waiting out the fire at the shelter in Yreka on Monday was Paisley Bamberg, 33. She arrived a few months ago from West Columbia, South Carolina, and had been living in a motel with her six children, ranging in age from 15 to 1-year-old twins, when she was told to evacuate."I started throwing everything on the top of my truck," but had to leave many things behind, she said. An old Coca-Cola refrigerator lies in the ruins of a property in the community of Klamath River, which burned in the McKinney Fire in Klamath National Forest, northwest of Yreka, California, on July 31, 2022. David McNew/AFP via Getty Images Bamberg said she had just been hired at an Arby's restaurant and wondered if it will survive the fire. "There might not be much there when we get back," she said. "I don't know if I have a job. The kids were supposed to start school and I don't know if the school is still standing."Bamberg added: "I'm trying to keep up my spirits. I have six little humans that are depending on me. I can't break down or falter."About 2,500 people were under evacuation orders but Thom said he knew many people remained in Yreka."There's still a lot of people in town, people who refused to leave," he said. "A lot of people who don't have vehicles and can't go. It's really sad."Thom has lived in Yreka all his life but said it was the first time he had been threatened by a wildfire."I never thought it would ever happen," he said. 'I thought, 'We're invincible.' ... This is making a liar out of me."Scientists have said climate change has made the West warmer and drier over the last three decades and will continue to make weather more extreme and wildfires more frequent and destructive. The U.S. Forest service shut down a 110-mile section of the famed Pacific Crest Trail in Northern California and southern Oregon. Authorities helped 60 hikers in that area evacuate on Saturday, according to the Jackson County Sheriff's Office in Oregon. In: Wildfire California Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Death toll in McKinney Fire, California's largest, rises to 4.

A cooldown in the job market is underway: The number of job openings dropped in June while near-record numbers of people continued to quit and get hired into new roles, according to the Labor Department's latest Job Openings and Labor Turnover Summary.The labor market posted 10.7 million new job openings in June, which is down from 11.3 million in May but also much higher than a year ago and a more than 50% increase from before the pandemic. Despite the drop, there are still roughly 1.8 open jobs for every person who is unemployed.Meanwhile, workers are continuing to leverage the market and make moves: 6.4 million people were hired into new jobs, and 4.2 million voluntarily quit — leveling off from record highs but still extremely elevated.The job market cooldown is "far from a plunge," says Nick Bunker, director of economic research at Indeed Hiring Lab."The labor market is loosening a bit, but by any standard it is still quite tight," Bunker adds. "The outlook for economic growth may not be as rosy as it was a few months ago, but there's no sign of imminent danger in the labor market."People are concerned about the future of jobs but are still quitting nowWorkers are growing more concerned about having their pick of jobs in the months to come, but it's not stopping many of them from calling it quits right now. The share of people who left their jobs voluntarily in June make up 2.8% of the workforce.Workers' confidence in the job market decreased slightly in June and July compared with May, according to a ZipRecruiter index measuring sentiment across 1,500 people. The index also showed an uptick in job-seekers who believe there will be fewer jobs six months from now, a decrease in people who say their job search is going well and a slight increase in people who feel financial pressure to accept the first job offer they receive.People may also be spooked by headlines of big-name companies, especially ones across tech and housing sectors that saw Covid-era growth, announcing layoffs, hiring freezes and rescinded job offers in recent months.Bunker recognizes "there are pockets of the economy and labor market going through turbulence," he says, "but they're for the most part concentrated pockets."These workers may also be getting hired into new jobs pretty quickly. The national unemployment rate held steady at 3.6% in June.Looking ahead, Bunker expects to see payroll growth and expanding employment in the jobs report out Friday. "If you're thinking of switching jobs, it's still a good time," he says, adding that job-seekers may focus more on going to an industry, sector or employer with a "strong economic outlook."A hiring slowdown doesn't indicate an inevitable recessionIn contrast with strong job numbers, economists and consumers alike are worried about a potential recession."We have a paradox in our economy because of conflicting signals," says Andrew Flowers, a labor economist at Appcast and research director at Recruitonomics.For example, the share of people filing for unemployment insurance has ticked up in recent weeks. But according to the Labor Department's report, layoffs stayed just under 1% in June, near record-lows.Bunker says inflation concerns are likely to blame, but reasons for "heightened concern about a recession have not fully materialized yet."Flowers says the latest jobs numbers signal more of an economic slowdown than a recession. And even so, lower hiring demand might not result in mass layoffs."Should people be worried? Right now, it's unclear," Flowers says. "My message to job-seekers and workers is that it's not clear this economic slowdown will result in a material increase in unemployment."He adds: "As the economy shifts to a lower gear of growth, which is the Fed's intention, that doesn't mean we'll suddenly have 10% unemployment."Check out:It's worth it to bring up inflation at work, even if you don't get a raise nowWhat's a good salary or raise to ask for right now? How to find your number in this wild job market3 reasons your recruiter ghosted you, according to a hiring proSign up now: Get smarter about your money and career with our weekly newsletter

4.2 million people quit in June despite recession worries: 'A paradox in our economy'.

IAEA Director General Rafael Mariano Grossi speaks at a news conference about developments related to the IAEA's monitoring and verification work in Iran, in Vienna, Austria June 9, 2022. REUTERS/Lisa Leutner/File PhotoRegister now for FREE unlimited access to Reuters.comUNITED NATIONS, Aug 2 (Reuters) - The head of the U.N. nuclear watchdog said on Tuesday "good words" from Iran are not enough to satisfy international inspectors and he hopes Tehran is ready to be transparent about its nuclear program, which was "moving ahead very, very fast".International Atomic Energy Agency chief Rafael Grossi spoke when asked about the IAEA's role in monitoring any revival of Iran's 2015 nuclear deal with world powers under which it curbed its nuclear program in return for economic sanctions relief.Iran and the United States have so far failed to resurrect the deal and Grossi said Iran must grant IAEA inspectors access "commensurate to the size" of its uranium enrichment program if the agency is to credibly assure that it is peaceful.Register now for FREE unlimited access to Reuters.com""When it comes to nuclear, good words will not do it. What you need to do is to be transparent and compliant and work with us. We are ready and I hope they will be as well," Grossi told reporters at the United Nations."They have a very ambitious nuclear program that needs to be verified in the appropriate way. The program is moving ahead very, very fast and not only ahead, but sideways as well, because it's growing in ambition and in capacity."Then-U.S. President Donald Trump reneged on the nuclear deal in 2018, restoring harsh U.S. sanctions designed to squeeze Iran's oil exports and prompting Tehran to start abandoning the agreement's nuclear limits about a year later.On Monday, Iran's nuclear energy organisation chief said it had the technical capability to produce an atomic bomb but no intention of doing so. read more Iran is already enriching uranium to up to 60% fissile purity, far above a cap of 3.67% set under the now tattered 2015 deal. Uranium enriched to 90% is suitable for a nuclear bomb.Register now for FREE unlimited access to Reuters.comReporting by Michelle Nichols at the United Nations and by Arshad Mohammed in Saint Paul, Minn.; Editing by Chris Gallagher and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

'Good words' not enough, IAEA hopes for transparency from Iran.

Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - More than 30 years ago, U.S. Representative Nancy Pelosi angered China's government by showing up in Tiananmen Square and unfurling a banner honoring dissidents killed in the 1989 protests. read more On Tuesday, as speaker of the House of Representatives, Pelosi disregarded China's fiery warnings and landed in Taiwan to support its government and meet with human rights activists.Pelosi's trip to Taiwan capped her decades as a leading U.S. critic of the Beijing government, especially on rights issues, and underscores the long history of the U.S. Congress taking a harder line than the White House in dealings with Beijing.Register now for FREE unlimited access to Reuters.comSecond in line for the presidency after Vice President Kamala Harris, Pelosi became the most senior U.S. politician to travel to Taiwan since then-Speaker Newt Gingrich in 1997. She led a delegation of six other House members.In 1991, two years after China's bloody crackdown on pro-democracy demonstrations, Pelosi and two other U.S. lawmakers unfurled a banner in Tiananmen reading, "To those who died for democracy in China."Police closed in, forcing them to leave the square.In 2015, she took a group of House Democrats to Tibet, the first such visit since widespread unrest in 2008. Pelosi has regularly spoken out about human rights issues in Tibet and has met the Dalai Lama, whom Beijing reviles as a violent separatist.China views visits by U.S. officials to Taiwan as sending an encouraging signal to the island's pro-independence camp. Washington does not have official diplomatic ties with Taiwan but is legally bound to provide it with the means to defend itself.Kharis Templeman, a Taiwan expert at Stanford University's Hoover Institution, said Pelosi, who is 82, would be looking to cement her legacy, while signaling support for Taiwan against pressure from Beijing."And what better person to send that signal than the speaker of the House herself? So she's in a very powerful symbolic position to take a stand against the CCP," Templeman said, referring to the Chinese Communist Party.Beijing considers Taiwan part of its territory and has never renounced using force to bring the island under its control. Taiwan rejects China's sovereignty claims and says only its people can decide its future.Chinese foreign ministry spokesman Zhao Lijian said a trip would lead to "very serious developments and consequences."Taiwan Foreign Minister Joseph Wu welcomes U.S. House of Representatives Speaker Nancy Pelosi at Taipei Songshan Airport in Taipei, Taiwan August 2, 2022. Taiwan Ministry of Foreign Affairs/Handout via REUTERS Analysts said Beijing's response was likely to be symbolic. "I think China has tried to signal that their reaction would make the U.S. and Taiwan uncomfortable, but would not cause a war," said Scott Kennedy, a China analyst at Washington's Center for Strategic and International Studies.HARD LINE IN CONGRESSCongress has long taken a harder line on Taiwan than the White House, no matter whether Democrats, such as President Joe Biden and Pelosi, or Republicans are in charge.Republicans supported Pelosi's trip. "Any member that wants to go, should. It shows political deterrence to President Xi," Representative Michael McCaul, the top Republican on the House Foreign Affairs Committee, told NBC News. McCaul said he was invited to join Pelosi's Asia trip but was unable to do so.The executive branch takes ultimate responsibility for foreign policy but relations with Taiwan are one area where Congress wants influence. The Taiwan Relations Act, which has guided relations since 1979, passed Congress with an overwhelming majority after lawmakers rejected a proposal from then-President Jimmy Carter as too weak.Democrats and Republicans in the U.S. Senate are working on a bill that would overhaul that policy, including by increasing military support for Taiwan and expanding Taipei's role in international organizations. read more Pelosi's trip and Beijing’s reaction have pushed the White House to once again express - including in a call between Biden and Chinese President Xi Jinping last week - that it has no desire to change the status quo.Biden cast doubt publicly on the wisdom of the trip last month in a rare break with Pelosi, a close ally."I think that the military thinks it's not a good idea right now, but I don't know what the status of it is," Biden told reporters.Pelosi's office refused ahead of the visit to rule out or confirm a possible stop by the speaker, citing security concerns typical for top U.S. officials.Pelosi announced on Sunday that she was leading a congressional delegation to Singapore, Malaysia, South Korea and Japan "to reaffirm America's strong and unshakeable commitment to our allies and friends in the region."U.S. defense officials played down the risk of China's military interfering with Pelosi's visit, but they worried that an accident could spiral into a larger conflict.Register now for FREE unlimited access to Reuters.comReporting by Patricia Zengerle and Michael Martina; additional reporting by Idrees Ali and Trevor Hunnicutt; editing by Mary Milliken and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

Taiwan visit caps Nancy Pelosi's long history of confronting Beijing.

Taliban fighters drive a car on a street following the killing of Al Qaeda leader Ayman al-Zawahiri in a U.S. strike over the weekend, in Kabul, Afghanistan, August 2, 2022. REUTERS/Ali KharaRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - The CIA drone strike that killed Al Qaeda leader Ayman al-Zawahiri delivered a long-sought win for U.S. President Joe Biden's counter-terrorism strategy, officials and experts said on Tuesday, but also sharpened concerns about militants' presence in Afghanistan.As the last U.S. troops and intelligence officers left Afghanistan last August after 20 years of war, Biden shifted to an "over-the-horizon" strategy of relying on drones and spy planes to track and hit al Qaeda and Islamic State militants inside the country.The CIA strike on Sunday in downtown Kabul, the first publicly known of its kind since the pullout, gives Biden a rare accomplishment less than a month from the anniversary of the chaotic exit that saw the Taliban regain power, 13 U.S. troops killed, and tens of thousands of at-risk Afghans left behind.Register now for FREE unlimited access to Reuters.com"It's a pretty straightforward success story," said Michael Kugelman, senior associate for South Asia at the Wilson Center think-tank.The United States had failed to kill Zawahiri, who helped coordinate the Sept. 11, 2001, attacks on the U.S. and was Osama bin Laden's successor, while U.S. forces were on ground, but proved it could hit him nearly a year after the withdrawal, Kugelman said."I was critical of President Biden's decision to leave Afghanistan, but this strike shows we still have the capability and will to act there to protect our country," U.S. Representative Tom Malinowski, a Democrat, said on Twitter.But U.S. officials, speaking on the condition of anonymity, said there still are shortcomings in the strategy. They pointed out that without basing agreements in neighboring countries, U.S. drones have a difficult time monitoring targets in remote parts of landlocked Afghanistan for long periods.One U.S. official said the Zawahiri strike would be difficult to replicate throughout Afghanistan without the human intelligence networks nurtured during the 20-year U.S. presence."This was a model strike," said Neha Ansari, a Washington-based counterterrorism analyst who focuses on drone warfare.Ansari said the operation required good intelligence, countries' likely allowing the United States the rights to fly drones through their airspace, and a precise location. But it is an open question if those perfect conditions would persist, she added.An illustration of the difficulty of intelligence-gathering in Afghanistan came in 2015 while thousands of U.S.-led troops were on the ground, when U.S. military officials were surprised to discover a massive al Qaeda training camp in southern Kandahar province."We don't know what we don't know," the U.S. official added.The use of CIA drones to hit Zawahiri points to a secret overflight agreement with a neighboring country, something the U.S. military does not have.The CIA declined to comment on the operation.'RINGING ALARM BELLS'Zawahiri's presence in Kabul, just blocks from the abandoned U.S. Embassy, raises questions about the presence of Islamist militant groups under Taliban rule.The strike pointed to a flaw in the 2020 withdrawal deal that the United States signed with the Taliban, which allows al Qaeda and other militant groups to remain in Afghanistan as long as they are not training, fund-raising or plotting attacks.Late last year, the U.S. intelligence community assessed that Islamic State's local affiliate - known as ISIS-K - could have the capability to attack the United States in as little as six months, although the Taliban and Islamic State militants are enemies. read more Before last year's withdrawal, top U.S. military leaders said groups like al Qaeda could pose a threat from Afghanistan to the U.S. homeland and American allies by 2023. read more A United Nations report last year said as many as 500 al Qaeda fighters were in Afghanistan and that the Taliban maintained a close relationship with the Islamist extremists.A U.S. military official said while Zawahiri had largely become a figurehead in recent years, there was still concern the group could grow with the Taliban providing them safe-haven.Daniel Hoffman, a former senior CIA covert operations officer and station chief, said the presence of Zawahiri and other al Qaeda militants in Afghanistan should be "ringing alarm bells.""Afghanistan is a clear and present danger. And it has never been more dangerous to the United States of America, I'm sorry to say, than it is right now," Hoffman said.Register now for FREE unlimited access to Reuters.comReporting by Idrees Ali and Jonathan Landay; Editing by Mary Milliken and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Zawahiri strike gives Biden counter-terrorism strategy boost, but concerns persist.

Register now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - British Airways has halted ticket sales for short-haul flights which depart from London's Heathrow airport before the middle of this month, following the airport's decision to cap capacity to tackle widespread disruption and cancellations.The IAG (ICAG.L)-owned airline said on Tuesday that the sales suspension for domestic and European destinations was designed to leave capacity for existing customers to rebook flights if needed.The airline's website showed no tickets for flights departing before Aug. 16 to popular European destinations, including Paris, Milan and Amsterdam.Register now for FREE unlimited access to Reuters.comA British Airways spokesperson declined to comment on exactly how long the sales pause would last, or the destinations affected, but said the airline was seeking to manage capacity restrictions which Heathrow had said would last until Sept. 11."We've been taking responsible action by limiting sales ... on some of our Heathrow services to ensure more seats are available to rebook customers," he said.Tail Fins of British Airways planes are seen parked at Heathrow airport as the spread of the coronavirus disease (COVID-19) continues, London, Britain, March 31, 2020. REUTERS/Toby Melville/File PhotoHeathrow told airlines on July 12 to limit the number of tickets they sold for flights departing over the next two months in order to cap the total number of passengers flying at 100,000 a day and limit queues, delays and cancellations. read more Amsterdam's Schiphol airport has taken similar action.Airlines and airports across Europe have struggled to cope with the rebound in post-lockdown travel, with many failing to recruit enough staff to handle check-ins and baggage handling.On July 6 BA said it would reduce its summer schedule and "consolidate some of our quieter services". read more Heathrow said last week that the cap had delivered a marked improvement in punctuality and baggage handling.Register now for FREE unlimited access to Reuters.comReporting by Kate Holton and Muvija M; Editing by Kylie MacLellan and David MillikenOur Standards: The Thomson Reuters Trust Principles.

BA halts ticket sales for many flights leaving Heathrow before mid-August.

Insta_photos | Istock | Getty ImagesMany Americans are pessimistic about the future of Social Security, and the pandemic has made it even worse.A recent survey found 59% of people now worry more about Social Security running out of funding than they did before the onset of Covid-19, according to Nationwide Retirement Institute.And that is changing their outlook on one of the biggest decisions they will make in their lives — when to claim Social Security retirement benefits.More from Personal Finance:More Americans plan to tap Social Security earlyTax increases may be sticking point in Social Security reform10.5% Social Security cost-of-living adjustment seen for 2023Almost 1 in 5, or 19%, of survey respondents said Covid-19 has changed their plans to file for Social Security benefits, with 9% planning to file earlier and 11% delaying filing.Meanwhile, 42% of respondents plan on filing for Social Security benefits early while continuing to work, up from 36% who said the same in 2021.Yet a recent Social Security trustees annual report that was the first to consider the effects of the pandemic struck a slightly more optimistic tone. The report projected a new depletion date of 2035 for the program's funds, one year later than had been projected in 2021. Assuming Congress takes no action in the intervening years, at that time, 80% of benefits will be payable.The depletion date for the fund dedicated solely to retirement benefits (the Old-Age and Survivors Insurance trust fund) was also bumped to one year later to 2034, at which point 77% of benefits will be payable.To get an idea of how much of a haircut your retirement benefits may take, using a reputable Social Security calculator may help.How to calculate the impact of a benefit cutCovisum, a provider of Social Security claiming software, recently updated its calculator to reflect the Social Security trustees' latest projections. That includes a free version for consumers and a more complex paid version for financial advisors.Another product, Maximize My Social Security, lets consumers evaluate which claiming strategy might best suit them for a $40 annual fee. It also has a separate version for financial advisors.The free Covisum calculator can help individuals do a quick calculation based on their benefits alone and some key facts — year of birth, full retirement age benefit amount, percentage of the benefit cut and the year that benefit cut occurs.So someone turning their full retirement age this year, for example, can calculate the effect of a 23% reduction in benefits starting in 2034, as well as the effect of no benefit cut. For each scenario, the calculator will show the value of claiming either at age 65 or age 70, and when beneficiaries stand to get the maximum amount possible from the program. As beneficiaries live longer, the value of waiting to claim until 70 goes up, as demonstrated in the difference in total benefits per the tool's calculations.To be sure, the free calculator is just a starting point when it comes to getting a sense of the trade-offs when claiming Social Security, according to Joe Elsasser, founder and president of Covisum.Because there are thousands of Social Security claiming rules, a more in-depth analysis can help identify the best way to get the most from the program for your unique situation.For example, married couples really should coordinate their benefit choices, Elsasser emphasized."Couples should make the decision together because on the first death the smaller benefit goes away and the larger benefit continues," Elsasser said.Why it's smart to 'plan under current rules'It's also important to remember the current depletion date projections are subject to change, as the Social Security trustees amend their projections each year.Moreover, Congressional legislation could change the program's funding status before that date. That may include higher taxes, benefit cuts or a combination of both. Washington Democrats have put forward proposals that call for raising taxes on the wealthy while making benefits more generous.For his part, Elsasser doesn't tell his clients to plan for a benefit cut. "We advise them to plan under current rules, because in the past, there's always been a compromise," he said.

Want to know how a Social Security benefit cut would affect you? There are calculators for that.

If you want Jack Sweeney to stop publicly tracking your private jet on Twitter, take a leaf out of Mark Cuban's book and offer the 19-year-old something better than money: friendship.Sweeney, a sophomore at the University of Central Florida, is the teenager responsible for 30 automated Twitter accounts that collectively track the flights of hundreds of celebrities, politicians and billionaires — from Elon Musk and Kylie Jenner to a series of Russian oligarchs. And since he started his side hustle in June 2020, he says he's only agreed to a single "stop tracking me" request.In a February direct message on Twitter, Cuban asked Sweeney to disable @MCubansJets in exchange for his friendship and business advice, according to screenshots reviewed by CNBC Make It. "He said, 'I'd be your friend,' and I asked if I could meet him at a basketball game," Sweeney, 19, tells CNBC Make It.Sweeney says the pair negotiated into May — in the virtual exchange, Cuban said he'd be willing to meet Sweeney at a Dallas Mavericks game next season — before striking a deal. It appears Sweeney has held up his end: The account, which he designed as a bot that updates automatically, hasn't tweeted since April, and its bio says that its code has been disabled.Cuban declined CNBC Make It's request for comment.Sweeney's loyalty appears to come at a price, and friendship may be more valuable than the money some billionaires are willing to pay: In January, Musk offered Sweeney $5,000 to stop tweeting the whereabouts of his private planes. Sweeney declined, asking for $50,000 instead. The account that tracks Musk's flights, @ElonJet, is still active today, with more than 479,000 followers on Twitter.By comparison, Sweeney's @MCubansJets account only has roughly 3,300 followers. Sweeney says that made it easier for him to accept Cuban's takedown request: Ditching the less-popular account in exchange for free networking was a no-brainer.Sweeney says both Cuban and Musk expressed personal safety concerns about the flight tracking, but doesn't see that as a compelling argument: His code only transmits publicly available information from websites like ADS-B Exchange, which post the location, altitude and speed transmitted by every federally regulated aircraft.And, Sweeney adds, celebrities usually aren't particularly private about owning jets in the first place. "People have the private planes, they post all of these pictures on them," he says. "It's not a secret."Sweeney says only one other person, a lawyer for venture capitalist Grant Cardone, has asked him to halt flight tracking. Like Cuban, the request came in a direct message on Twitter, according to screenshots reviewed by CNBC Make It. And like @MCubansJets, the @CardoneJet account doesn't have many followers: currently fewer than 2,000.Yet @CardoneJet remains active on Twitter. Sweeney says he never actually responded to the lawyer's request, which didn't offer anything in return for deactivating the account.Sweeney says he hopes to eventually monetize his Twitter accounts, potentially by turning his personal website into an all-in-one celebrity flight tracker or finding a way to offer carbon offsets for some of the flights he tracks. But for now, he adds, he only plans to keep growing the number of flights the code can access."[I'm motivated] because people are still really interested in this," Sweeney says.Sign up now: Get smarter about your money and career with our weekly newsletterDon't miss:The teen tracking Elon Musk’s jet also does Jeff Bezos’ and 125 others: I can make ‘some kind of business out of this’Mark Cuban says this was his worst ‘Shark Tank’ investment ever: ‘Next thing you know, all of the money’s gone’

The jet-tracking teen stopped tweeting Mark Cuban's flights for free, but refused $5,000 from Elon Musk for the same thing.

President Joe Biden is set to sign into law a bipartisan bill to invest billions of dollars in domestic semiconductor manufacturing and science research, with the aim of boosting U.S. competitiveness with China and other foreign rivals.The legislation marks a win for Biden, who campaigned on reaching across the aisle and has pushed Congress to pass the legislation as a matter of necessity for America's economy and national security.Biden, who is suffering from a relapse of Covid, appeared virtually at a ceremony Tuesday with Gov. Gretchen Whitmer, D-Mich., as she signed an executive directive to implement the Chips and Science Act.The bill, dubbed the Chips and Science Act, includes more than $52 billion for U.S. companies producing computer chips, as well as billions more in tax credits to encourage investment in chip manufacturing. It also provides tens of billions of dollars to fund scientific research and development, and to spur the innovation and development of other U.S. technologies.The House and Senate passed the bill last week with near-unanimous Democratic support. One-third of Republican senators backed the bill, including Senate Minority Leader Mitch McConnell of Kentucky. Two dozen House Republicans also voted for it, though others withdrew their support on the eve of the final vote after Senate Democrats unveiled plans to quickly pass an unrelated partisan reconciliation bill.Democrats want that tax-and-spending package, helmed by Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.V., to come to a vote before Congress leaves Washington, D.C., for the August recess. They hope to pass it without needing Republican votes in the Senate, where the parties are split 50-50 and Vice President Kamala Harris holds the tie-breaking vote.McConnell had previously warned Democrats that GOP lawmakers wouldn't back the semiconductor bill if they continued to work on a reconciliation package. Talks between Schumer and Manchin on such a package had appeared to sputter weeks earlier — but just hours after the Senate voted to pass the Chips and Science act, the Democrats revealed that they had struck a deal.Republicans reacted angrily, and the House minority whip's office instructed GOP members in a late-night memo to oppose the chips bill when it came to a vote Thursday. "They lied about reconciliation," House Minority Leader Kevin McCarthy, R-Calif., said on the morning of the vote.Democrats, meanwhile, celebrated the bill's passage. "Now it goes to the White House for the president's signature and a better future for our country," House Speaker Nancy Pelosi, D-Calif., said in a ceremony at the Capitol on Friday morning.Advocates say it is vital for the U.S. to boost its production of semiconductors, which are increasingly critical components in a vast array of products including consumer electronics, automobiles, health care equipment and weapons systems.Biden also has blamed the chip shortage for the sky-high inflation that has dogged his presidency. A lack of chips available for new car manufacturing has been linked to soaring prices for used cars, which are pushing inflation higher.The chips have been in short supply during the Covid-19 pandemic. Factory shutdowns at the beginning of the outbreak sidelined chip production in Asia while consumer demand for autos and upgraded home electronics that need the chips surged during the lockdowns. The U.S. share of global chip production also has fallen sharply in recent decades, while China and other nations have invested heavily in the industry.The U.S. makes few of the most advanced types of semiconductors, which are largely produced in Taiwan. Pelosi and a delegation of five House Democrats traveled to that island, the source of significant tensions with China, earlier Tuesday as part of an Asian tour.The speaker said the trip is aimed at reaffirming U.S. ties to its regional allies, including Singapore, Malaysia, South Korea and Japan. But China, which asserts control over Taiwan, has deployed increasingly belligerent rhetoric toward the U.S. in response to the tour.Correction: This article was updated to reflect that Biden hasn't yet signed the bill into law.

Biden to sign bill boosting China competition and U.S. chip production.

The Port of New York and New Jersey announced new tariffs on Tuesday related to empty containers and export volume in its battle to decrease container congestion. Both loaded and empty containers that are considered long-dwelling will be subjected to a quarterly "container imbalance fee." The tariff will be effective as of September 1, pending the mandatory federal 30-day notice. The Port of New York and New Jersey is the largest port on the East Coast and the third-largest in the nation. Products that were recently processed through customs in July range from BMW motorcycles and dresses for David's Bridal out of China, parts for Plug Power, a gas cooker for Tractor Supply, and a "12 Days of Beauty Box" for Target.But just like other ports, the Port of New York and New Jersey has processed record volumes of import containers during the pandemic and has seen these import containers wait longer at the terminals. These containers have clogged land capacity and slowed down port productivity. As a result, more vessels wait at anchor.Under the new tariff, ocean carriers who do not move empty containers out of the port will be charged $100 per container. The port's new container export levels mandate that export volumes must equal or exceed 110% of an ocean carrier's incoming container volume during the same period. If that benchmark is not met, the ocean carrier will be assessed a fee of $100 per container for failing to hit this benchmark. Both loaded and empty containers are included in the import container count. Rail volume is excluded.Record cargo volume, excess containers Surrounding land is also being used by the port to make room for the excess containers. The port created temporary storage for both empty containers and long-dwelling import containers in a 12-acre lot within the Port Newark and the Elizabeth-Port Authority Marine Terminal. The port is also in negotiations and researching additional areas that could be used for storage space."As we continue to manage record cargo volume and work with our tenants and port stakeholders for the removal of empty containers in a timely manner, we call on all industry stakeholders to find sustainable, long-term solutions to an industrywide problem affecting many U.S. ports," said Port Authority Chairman Kevin O'Toole.The decrease in productivity can be seen in the increased travel time of vessels. The increased anchorage times can be tracked in the vessel transit time from China to the Port of New York and New Jersey."The Port of New York and New Jersey is facing record import volumes, leading to empty containers accumulating in and around the port complex that are now affecting the regional supply chain that is already under stress from various sources across the country," said Bethann Rooney, director of the Port Department at the Port Authority of New York and New Jersey. "We emphatically encourage ocean carriers to step up their efforts to evacuate empty containers quicker and at higher volumes to free up much needed capacity for arriving imports in order to keep commerce moving through the port and the region."European goods and German port stressesEast Coast ports like New York receive a lot of goods from Europe, where trade has been severely impacted by ongoing labor strife at both ports and rails. Exports bound for the United States are at least two months late.Among the thousands of containers that were imported into the Port of New York and New Jersey in the month of July, according to a review of customs data using ImportGenius, there was wine from Spain, pasta, Prosecco and Giorgio Armani suits from Italy, and furniture from France.Planet, a new contributor to the CNBC Supply Chain Heat Map, captured photos to show the impact of the rail strikes that has left a crush of containers at the rail terminals in Hamburg. Because of extensive cloud cover in July, the comparisons are between May 15, 2022 and June 11, 2022. The buildup of containers can clearly be seen. With the labor strife continuing, the number of containers has grown, according to logistics experts, and that is slowing down trade.Hamburg rail terminal comparisonsPlanet"The rail situation in the Ports of Germany, especially in Hamburg, remains stressed and the congestion is increasing," said Andreas Braun, Europe, Middle East, and Africa ocean product director of Crane Worldwide Logistics. Rail operators constantly miss their normal delivery and pick up windows, and can still not deliver laden containers to the terminal earlier than seven days prior to loading. Due to the summer passenger schedule, container train operators have to give right of way to the increased amount of passenger trains, which additionally contributes to the delays. "At least one week of delays is normal by now however, that can go up to two weeks and the constant threat that you miss the vessel," Braun said.The CNBC Supply Chain Heat Map data providers are artificial intelligence and predictive analytics company Everstream Analytics; global freight booking platform Freightos, creator of the Freightos Baltic Dry Index; logistics provider OL USA; supply chain intelligence platform FreightWaves; supply chain platform Blume Global; third-party logistics provider Orient Star Group; marine analytics firm MarineTraffic; maritime visibility data company Project44; maritime transport data company MDS Transmodal UK; ocean and air freight rate benchmarking and market analytics platform Xeneta; leading provider of research and analysis Sea-Intelligence ApS; Crane Worldwide Logistics; and air, DHL Global Forwarding; freight logistics provider Seko Logistics; and Planet,  provider of global, daily satellite imagery and geospatial solutions.

Port of New York and New Jersey adds fees for ocean carriers as shipping containers pile up.

U.S. August 2, 2022 / 3:06 PM / CBS/AP Survivors begin long recovery after parade shooting Survivors begin long recovery after parade shooting 02:14 An 8-year-old boy whose spine was severed in the shooting at a parade on July 4 has moved to a rehabilitation-focused hospital after spending nearly a month in a Chicago pediatric intensive care unit. Cooper Roberts' family said the boy was moved Sunday to the Shirley Ryan AbilityLab from the University of Chicago's Comer Children's Hospital. The family's statement released Monday said Cooper's medical team will focus on physical and occupational therapy along with other rehabilitation and mental health services. Cooper was among the 48 people wounded when a gunman opened fire on the Highland Park Independence Day parade. His twin brother, Luke, was hit by shrapnel, and his mother was wounded in the leg. Cooper Roberts Roberts family Seven people were killed. Since the shooting, Cooper has undergone at least seven surgeries and is paralyzed from the waist down. In previous statements, his family said he required time on a ventilator and breathing tube after some of those procedures, and he experienced high fevers and other complications. Last month, Anthony Loizzi, a family friend, spoke about the "several surgeries" Cooper had undergone since the shooting. "It's going to be a new normal for him going forward," Loizzi said. Loizzi added that Cooper, who loves sports, was asking about his brother Luke and their family's French bulldog, George.Each sign of progress has been celebrated in the family's public updates: Cooper's first time consuming liquids, the first trip outside the hospital doors in a wheelchair, trips to the hospital's play room and a reunion with George. Word of Cooper's move to the rehabilitation hospital this week sparked another burst of financial support for the Roberts family. An online fundraiser reported more than $1.7 million has been raised toward Cooper's care. In a statement last week, their mother Keely asked people to continue praying for Cooper and Luke. "Their lives are so much more and better than this terrible thing than was done to them," she said. "Their lives are not a tragedy, they are a triumph."Lake Country prosecutors have charged Robert E. Crimo III with 21 counts of murder, 48 counts of attempted murder and 48 counts of aggravated battery, representing the seven people killed and dozens wounded in the attack. In: Chicago Sports Illinois Shooting Crime Shootings Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

8-year-old boy paralyzed in Highland Park parade attack moves to rehab-focused hospital.

Pedestrians wait at an intersection near a screen showing footage of Chinese People's Liberation Army (PLA) aircraft during an evening news programme, in Beijing, China August 2, 2022. REUTERS/Tingshu WangRegister now for FREE unlimited access to Reuters.comBEIJING, Aug 2 (Reuters) - The Chinese military has been put on high alert and will launch "targeted military operations" in response to U.S. House Speaker Pelosi's visit to Taiwan, China's defence ministry said on Tuesday night.Separately, the People's Liberation Army's Eastern Theatre Command said it will conduct joint military operations near Taiwan from Tuesday night.The exercises will include joint air and sea drills in the north, southwest and southeast of Taiwan, long-range live firing in the Taiwan Strait, and missile test-launches in the sea east of Taiwan, the Eastern Theatre Command said.The defence ministry did not provide details about what the targeted military operations would include, or if they were separate from the exercises announced by Eastern Theatre Command.State news agency Xinhua said earlier on Tuesday the Chinese military would conduct live-firing drills and other exercises around Taiwan from Aug. 4 to Aug. 7.Register now for FREE unlimited access to Reuters.comReporting by Yew Lun Tian; Editing by Frank Jack Daniel;Our Standards: The Thomson Reuters Trust Principles.

China to launch 'targeted military operations' due to Pelosi visit.

Starbucks is expected to report its fiscal third-quarter earnings after the bell Tuesday.Here's what Wall Street analysts surveyed by Refinitiv are expecting:Earnings per share: 75 cents expectedRevenue: $8.11 billion expectedThe coffee giant suspended its fiscal 2022 outlook last quarter, citing the uncertainty caused by Covid lockdowns in China, the company's second-largest market. This quarter, analysts are expecting Starbucks' international same-store sales to drop 14.5%, according to StreetAccount estimates.But Wall Street has more upbeat projections for the company's home market, which is expected to report strong same-store sales growth. Still, CEO Howard Schultz will likely face questions about how the chain expects to fare if consumer spending slows down. Restaurant chains like Chipotle Mexican Grill, Olive Garden owner Darden Restaurants and McDonald's have already reported that low-income customers are trading down or visiting less frequently.Starbucks is also facing a union push from its U.S. baristas. More than 200 locations have in favor of unionizing under Workers United, and the union is now pushing the company to extend pay hikes and benefits to unionized stores.Shares of Starbucks have fallen 27% this year, dragging its market value down to $98.37 billion.

Starbucks is about to report earnings. Here's what to expect.

Sports August 2, 2022 / 3:24 PM / AP The NFL has suspended Miami Dolphins owner Stephen Ross and fined him $1.5 million for tampering with Tom Brady and Sean Payton following a six-month investigation stemming from Brian Flores' racial discrimination lawsuit against the league.The league's investigation found the Dolphins did not intentionally lose games during the 2019 season but the team had impermissible communication with Brady and his and Payton's agent, Don Yee. The league announced the findings of the investigation on Tuesday.The Dolphins will forfeit a first-round selection in the 2023 NFL draft and a third-round selection in the 2024 draft. Ross is suspended through Oct. 17. Miami Dolphins owner Stephen Ross looks on prior to a game against the Buffalo Bills at Hard Rock Stadium on October 23, 2016, in Miami Gardens, Florida. Chris Trotman / Getty Images "The investigators found tampering violations of unprecedented scope and severity," NFL Commissioner Roger Goodell said in a statement. "I know of no prior instance of a team violating the prohibition on tampering with both a head coach and star player, to the potential detriment of multiple other clubs, over a period of several years. Similarly, I know of no prior instance in which ownership was so directly involved in the violations." The investigation concluded the Dolphins violated the league's anti-tampering policy on three separate occasions. The Dolphins had impermissible communications with Brady as early as August 2019 through the 2020 postseason, while he was under contract to the New England Patriots.Dolphins vice chairman/limited partner Bruce Beal conducted "these numerous and detailed discussions" and kept Ross and other team executives informed of his conversations with Brady. The Dolphins again had impermissible communications with both Brady and his agent, Yee, no later than early December 2021 and after the season, while he was under contract to the Tampa Bay Buccaneers.Those discussions focused on Brady becoming a limited partner in the Dolphins and possibly serving as a football executive, although at times they also included the possibility he would play for the Dolphins. The league says Ross and Beal participated in these discussions.Brady briefly retired in February before the seven-time Super Bowl champion chose to return for another season with the Buccaneers.The third tampering violation involved Payton. In January, the Dolphins had impermissible communications with Yee about having Payton serve as Miami's head coach. The Dolphins did not seek consent from New Orleans to have these discussions, which occurred before Payton announced his decision to retire from the Saints. Miami requested permission to speak to Payton for the first time after that announcement but New Orleans declined to grant it. Ross' suspension ends the same day Deshaun Watson is eligible to return from his six-game suspension. A disciplinary officer handed out Watson's punishment on Monday after the Cleveland Browns quarterback was accused by two dozen women in Texas of sexual misconduct during massage treatments. The NFL is mulling whether to appeal that decision.Ross may not be present at the team's facility and may not represent the club at any team or NFL event during his suspension. He also may not attend any league meeting before the annual meeting in 2023, and he is removed from all league committees indefinitely.Beal was fined $500,000 and may not attend any league meeting for the remainder of the year.Regarding Flores' allegations the Dolphins wanted him to "tank" games to secure the top draft pick, investigators said the team didn't intentionally lose and neither Ross nor anyone from the team instructed Flores to lose on purpose.However, investigators found Ross expressed several times during the season his belief that draft position should take priority over won-loss record. Flores considered the comments a suggestion that he lose games and expressed his concerns in writing to senior club executives. Ross no longer made any such comments to Flores.Investigators said there are differing recollections about the wording, timing, and context of Flores' claim of a $100,000-a-game offer from the club to tank, but it "was not intended or taken to be a serious offer, nor was the subject pursued in any respect" by Ross or anyone else at the club."I am thankful that the NFL's investigator found my factual allegations against Stephen Ross are true," Flores said in a statement. "At the same time, I am disappointed to learn that the investigator minimized Mr. Ross's offers and pressure to tank games especially when I wrote and submitted a letter at the time to Dolphins executives documenting my serious concerns regarding this subject at the time which the investigator has in her possession. "While the investigator found that the Dolphins had engaged in impermissible tampering of 'unprecedented scope and severity,' Mr. Ross will avoid any meaningful consequence. There is nothing more important when it comes to the game of football itself than the integrity of the game. When the integrity of the game is called into question, fans suffer, and football suffers."Goodell chastised Ross for making the comments."An owner or senior executive must understand the weight that his or her words carry, and the risk that a comment will be taken seriously and acted upon, even if that is not the intent or expectation," Goodell said. "Even if made in jest and not intended to be taken seriously, comments suggesting that draft position is more important than winning can be misunderstood and carry with them an unnecessary potential risk to the integrity of the game. The comments made by Mr. Ross did not affect Coach Flores' commitment to win and the Dolphins competed to win every game. Coach Flores is to be commended for not allowing any comment about the relative importance of draft position to affect his commitment to win throughout the season."Former U.S. Attorney and SEC Chair Mary Jo White and a team of lawyers from the Debevoise law firm led the NFL's investigation. In: Tampa Bay Buccaneers Miami Dolphins Lawsuit Sports Football deshaun watson NFL Tom Brady Roger Goodell civil rights

NFL suspends and fines Dolphins owner Stephen Ross $1.5 million for tampering with Tom Brady and Sean Payton.

A 7-Eleven convenience store has a sign in the window reading "Now Hiring" in Cambridge, Massachusetts, U.S., July 8, 2022. REUTERS/Brian Snyder/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryJob openings drop 605,000 to 10.7 million in JuneRetail, wholesale trade account for decline in vacanciesQuits little changed at 4.2 million; layoffs decreaseWASHINGTON, Aug 2 (Reuters) - U.S. job openings fell by the most in just over two years in June as demand for workers eased in the retail and wholesale trade industries, but overall the labor market remains tight, allowing the Federal Reserve to continue raising interest rates.Despite the larger-than-expected decrease in vacancies reported by the Labor Department in its Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday, the jobs market still favors workers. At least 4.2 million workers voluntarily quit their jobs in June and layoffs declined.Job openings are among several metrics being closely watched by Fed officials. The U.S. central bank has been delivering hefty interest rate hikes in its war against inflation, pushing the economy to the brink of a recession.Register now for FREE unlimited access to Reuters.com"The labor market may be cooling off, but the temperature decline is far from a plunge," said Nick Bunker, director of economic research at Indeed Hiring Lab in Washington. "The outlook for economic growth may not be as rosy as it was a few months ago, but there's no sign of imminent danger in the labor market."Job openings, a measure of labor demand, were down 605,000 to 10.7 million on the last day of June, the fewest since September 2021, the JOLTS report showed. June's decline was the largest since April 2020, when the economy was reeling from the first wave of the COVID-19 pandemic.Job openings have been declining since scaling a record high of 11.9 million in March. Still, job openings are nowhere near the low levels seen during the Great Recession 13 years ago.Economists polled by Reuters had forecast 11.0 million vacancies. The Fed is trying to dampen demand for labor and the overall economy to bring inflation down to its 2% target.The central bank last week raised its policy rate by another three-quarters of a percentage point. It has now hiked that rate by 225 basis points since March. The economy contracted 1.3% in the first half of the year. Wild swings in inventories and the trade deficit tied to snarled global supply chains have been largely to blame, though overall economic momentum has cooled.Stocks on Wall Street were mixed. The dollar rose against a basket of currencies. U.S. Treasury prices fell.NOT RECESSIONARYJob openings decreased by 343,000 in the retail trade sector. The wholesale trade industry had 82,000 fewer vacancies, while state and local government education reported a reduction of 62,000 in openings. Construction, which is highly sensitive to interest rates, saw job openings decrease by 71,000.There were modest declines in manufacturing and leisure and hospitality. Job openings were little changed in professional and business services, and edged up in financial activities.While vacancies fell in all four regions, the decrease was more pronounced in the technology-heavy West, where companies have been laying off workers and rescinding job offers.Hiring slipped to 6.4 million from 6.5 million in May. In June, there were 1.8 jobs for every unemployed person.Reuters GraphicsThe jobs-workers gap fell to 2.9% of the labor force from 3.3% in May. It is down from its peak of 3.6% of the labor force in March, an improvement economists at Goldman Sachs said suggested wage growth should slow in the second half of the year. Annual wage growth in the second quarter was the fastest since 2001. read more In June, about 4.2 million people quit their jobs, down from 4.3 million in May. The quits rate, viewed by policymakers and economists as a measure of job market confidence, was unchanged at 2.8%.There was a modest rise in resignations in manufacturing, retail and wholesale trade industries. But fewer workers quit in financial activities, professional services as well as leisure and hospitality. More people resigned in the South, while fewer did so in the Northeast, Midwest and West.Layoffs slipped to 1.3 million from 1.4 million in May. The layoffs rate was unchanged at 0.9%. Layoffs rose in construction, but dropped in wholesale and retail trade as well as financial services."The JOLTS report on the whole is one of many labor market indicators that don't look 'recessionary' despite more downbeat signals coming out of some other economic indicators," said Daniel Silver, an economist at JPMorgan in New York.Register now for FREE unlimited access to Reuters.comReporting by Lucia Mutikani; Editing by Paul Simao and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

U.S. job openings fall to nine-month low; labor market holds tight.

Uber reported a second-quarter loss on Tuesday but beat analyst estimates for revenue and posted $382 million in free cash flow for the first time ever.Shares of Uber closed the day up 18.9%.Here are the key numbers:Loss per share: $1.33, not comparable to estimates.Revenue: $8.07 billion vs. $7.39 billion estimated, according to a Refinitiv survey of analysts.The company reported a net loss of $2.6 billion for the second quarter, $1.7 billion of which was attributed to investments and a revaluation of stakes in Aurora, Grab and Zomato. But CEO Dara Khosrowshahi said in a prepared statement that Uber continues to benefit from an increase in on-demand transportation and a shift in spending from retail to services.The company reported adjusted EBITDA of $364 million, ahead of the $240 million to $270 million range it provided in the first quarter. Gross bookings of $29.1 billion were up 33% year over year and in line with its forecast of $28.5 billion to $29.5 billion. Here's how Uber's largest business segments performed in the second quarter of 2022:Mobility (gross bookings): $13.4 billion, up 57% from a year ago in constant currency. Delivery (gross bookings): $13.9 billion, up 12% from a year ago in constant currency. Uber relied heavily on growth in its Eats delivery business during the pandemic, but its mobility segment surpassed Eats revenue in the first quarter as riders began to take more trips. That trend continued during the second quarter. Its mobility segment reported $3.55 billion in revenue, compared with delivery's $2.69 billion. Uber's freight segment delivered $1.83 billion in revenue for the quarter. Revenue doesn't include the additional taxes, tolls and fees from gross bookings. Despite the increase in fuel prices during the quarter, Uber said it has more drivers and couriers earning money than before the pandemic, and it saw an acceleration in active and new driver growth. "Driver engagement reached another post-pandemic high in Q2, and we saw an acceleration in both active and new driver growth in the quarter," Khosrowshahi said in prepared remarks. "Against the backdrop of elevated gas prices globally, this is a resounding endorsement of the value drivers continue to see in Uber. Consequently in July, surge and wait times are near their lowest levels in a year in several markets, including the US, and our Mobility category position is at or near a multi-year high in the US, Canada, Brazil, and Australia."Uber recently announced new changes that may help it continue to attract and keep drivers. They'll be able to choose the trips they want, for example, and will be able to see how much they'll earn before they accept a trip.The company reported 1.87 billion trips on the platform during the quarter, up 9% from last quarter and up 24% year over year. Monthly active platform consumers reached 122 million, up 21% year over year. Drivers and couriers earned an aggregate $10.8 billion during the quarter, up 37% year over year.Khosrowshahi said on a call with investors that new driver sign-ups were up 76% year over year. He said over 70% of drivers said inflation and cost of living played a part in their decision to join Uber."The most obvious effect of inflation seems to be getting more drivers on the platform," Khosrowshahi said on CNBC's "Squawk on the Street."Uber also benefited from the resurgence in travel. It said airport gross bookings had reached pre-pandemic levels, at 15% of total mobility gross bookings, up 139% year-over-year. For the third quarter, Uber expects gross bookings between $29 billion and $30 billion and adjusted EBITDA of $440 million to $470 million.

Uber reports another big loss but beats on revenue, shares pop 19%.

SummaryNo sign either side giving ground in power struggleTop Iranian commander visits Baghdad amid crisis, sources sayThough tensions are high, sides appear to be avoiding violenceBAGHDAD, Aug 2 (Reuters) - A power struggle in Iraq between the Shi'ite cleric Moqtada al-Sadr and rivals aligned with Iran is testing Tehran's ability to stave off a conflict that could damage its interests and further destabilise the oil-rich country.With Sadr supporters camped out in parliament and his opponents protesting in the streets, the tussle over a new government has put fresh strain on a political system that has been buffeted by crises since U.S.-led forces toppled dictator Saddam Hussein two decades ago.It adds another destabilising factor to a belt of fragile Arab states between Iran and the Mediterranean - Iraq, Syria and Lebanon - all of which fall within Iran's sphere of influence and have suffered major conflict or crisis over the last decade, including the battle with Islamic State.Register now for FREE unlimited access to Reuters.comFor Iraq, where the power balance tilted Iran's way after the U.S. invasion of 2003, the tussle adds to divisions in a country also beset by rivalries among Sunni Arab and Kurdish groups who control the north.So far, neither side seems ready to give ground in the 10-month-old standoff, which began when Sadr emerged victorious from an October election and sought to form a government on his terms, only to be stymied by his foes. read more For now, the sides - both heavily armed - appear to be avoiding violence, aware of the impact this would have on Iraq and the Shi'ite majority that was empowered by the political system the United States built after ousting Saddam, a Sunni.But amid dramatic scenes in Baghdad, where Sadr supporters overran the fortified Green Zone that houses state buildings and embassies at the weekend, many Iraqis are concerned about possible violence. read more In a sign of Iran's concern, one of its senior military commanders, Brigadier General Esmail Ghaani, visited Baghdad in recent days in an effort to keep tensions from escalating, a Western diplomat said.An Iraqi official in the Coordination Framework, an alliance of Iran-aligned factions, confirmed the visit but said Ghaani didn't appear to have succeeded, without giving details.Iran's embassy in Baghdad didn't respond to a request for comment.Ghaani, who heads Iran’s Revolutionary Guards' foreign legions, has struggled to wield the influence of his predecessor, Qassem Soleimani, killed by a U.S. attack in 2020."Iranian influence has had its ups and downs and has been waning to some extent," said Renad Mansour of Chatham House, a think tank. "This election and government formation process has exposed fragmentation ... among the political parties which makes it very complicated for Iran."The crisis comes at a difficult moment for Iran elsewhere. The heavily armed Hezbollah and its allies lost a parliamentary majority in Lebanon in a May, though they still have big sway."NO REVOLUTIONARY"Sadr, heir to a prominent clerical dynasty who fought U.S. forces after the invasion, has long opposed foreign influence. read more He raised the stakes in June when he instructed his lawmakers to quit parliament, ceding dozens of seats to the Iran-aligned factions. Their subsequent moves towards forming a government without Sadr prompted the parliament takeover.Sadr's recent call for unspecified changes to the constitution may indicate he wants to upend the entire system.But some analysts question how much he really wants to change a system that has served him well: Sadr dominates much of the state which employs many of his followers."Sadr is no revolutionary. He wants the system to go on but with him in a more dominant position," said Toby Dodge, a London School of Economics professor.Dodge described the standoff as "a squabble within an increasingly unpopular elite" in a country where poor governance and corruption has inflicted power and water cuts, poverty and unemployment on Iraqis, despite enormous oil wealth.Those same conditions fuelled mass protests across Baghdad and southern Iraq in 2019 in which security forces killed hundreds of protesters."There could be miscalculations and mistakes. But it seems to me that in every stage in this process, either one side or the other has taken steps to avoid violence," Dodge said.A GAME CHANGER?The United States maintains around 2,000 troops in Iraq to fight Islamic State remnants, far fewer than the 170,000 U.S. troops there at the height of the occupation.Once involved in backroom dealings over Iraqi government formations, U.S. officials have largely stayed out of such contacts in recent years, according to Iraqi officials.Vali Nasr, a Middle East expert at the Johns Hopkins School of Advanced International Studies in Washington, said Iraq did not appear to be a big U.S. priority."It (Iraq) was not treated as a game-changer for the region, which it could end up being if Iraq loses the modicum of stability it had," he said."It is too soon to call this a loss for Iran, it may end up being a loss for everybody, and then the question becomes who picks up the pieces afterwards," he said.The U.S. State Department did not immediately respond to questions for this story.The U.S. embassy has urged calm and for Iraqi parties to avoid violence and work peacefully to resolve their differences.Hamdi Malik of the Washington Institute think tank noted signs of restraint by both sides, but said conflict was a risk."Any civil war between Shi'ite groups will have a profound impact not only on ... people in Iraq, but the wider region and even other parts of the world, not least because of the possible disruption in oil supplies, as much of Iraq's oil wealth is located in predominantly Shi'ite parts of the country," he said.Register now for FREE unlimited access to Reuters.comEditing by Samia Nakhoul; William MacleanOur Standards: The Thomson Reuters Trust Principles.

Analysis: Crisis in Iraq tests its stability and Iran's sway.

All three major averages fall Tuesday for second day in a rowThe S&P 500, Dow Jones Industrial Average and the Nasdaq Composite slumped Tuesday, unable to hold onto earlier gains.The S&P 500 slipped 0.66% to 4,091.35 after being down nearly 1% earlier in the session. The Dow Jones Industrial Average also shed 401.64 points, or 0.90%, to 32,396.76, weighed down by Caterpillar, which shed more than 3% after reporting disappointing quarterly earnings. The Nasdaq Composite fell 0.16% to 12,348.76, even though Uber jumped 18.9% following earnings.— Carmen ReinickeCaterpillar, Boeing lead Dow to the downsideThe Dow is lagging the S&P 500 and Nasdaq in Tuesday's session, and most of the stocks in the 30-name average are in the red. The worst performers in the Dow come from the industrials sector. Shares of Caterpillar are down more than 5% after the company's second-quarter revenues came in below expectations, while Boeing has dropped nearly 3%.Elsewhere, Shares of Visa are down more than 2%, as are shares of Intel.Insurance stock Travelers is the only Dow name up at least 1%. —Jesse PoundStocks mixed in last hour of trading An hour before the closing bell, stocks were mixed with the S&P 500 and Dow Jones Industrial Average down 0.31% and 0.89%, respectively. The Nasdaq Composite was still in the green, however, up 0.20%, boosted by Uber's more than 18% jump following earnings. — Carmen ReinickeETF flows showed big pivot to growth in JulyLast month's rally for growth stocks was due in part to a historic divide in ETF flows, according to Strategas ETF strategist Todd Sohn."Notably, the monthly spread between Growth inflows and Value outflows was the largest in our dataset history," Sohn wrote in a note to clients on Tuesday. The data goes back to 2009.In particular, the iShares Russell 1000 Value ETF saw roughly $800 million in outflows last month, according to Strategas.However, value has still attracted more flows than growth since March 2020, thanks to massive flows earlier this year, according to Strategas.— Jesse PoundFed officials trying to cool market's rally, analyst saysFederal Reserve officials appear to be downplaying the chances of a Fed pivot in their comments this week, according to John Luke Tyner, a portfolio manager and fixed income analyst at Aptus Capital Advisors. Tyner said that Fed speakers, including San Francisco Fed President Mary Daly earlier today, are "probably trying to walk back the move that we've seen in risk assets.""When you have this rebound in risk assets that we've seen, really what that's telling me is the Fed has done nowhere enough damage to make the mark that they need to slow down inflation," Tyner said.He also pointed to an increase in the 5-year breakeven inflation metrics as an area that would likely concern the Fed.— Jesse PoundCiti raises Tesla's price targetCiti raised Tesla's price target, to $424 from $375, citing some better-than-expected second quarter earnings results, as well as easing commodity costs for automakers. Still, the investment firm maintained a sell rating on the electric vehicle maker. "We are moderately raising our estimates to reflect the Q2 EPS beat on continued strong execution and non-automotive upside," analyst Itay Michaeli wrote in a Monday note. Automakers have been forced to raise prices on vehicles as they deal with a surge in commodities costs for materials such as cobalt, lithium and nickel, which have more than doubled during the pandemic. Still, Tesla CEO Elon Musk wrote in a July 28 tweet: "Inflation might be trending down. More Tesla commodity prices are trending down than up fwiw." Tesla shares were up more than 1%. — Sarah MinMester sees 'more work to do' on controlling inflationCleveland Fed President Loretta Mester takes part in a panel convened to speak about the health of the U.S. economy in New York November 18, 2015.Lucas Jackson | ReutersCleveland Federal Reserve President Loretta Mester said more progress is needed on inflation before the central bank can relax.In an interview with the Washington Post, the policymaker said there's "more work to do" on inflation, which is running at its highest level since the early 1980s. She added that she would need to see "compelling evidence" that inflation is slowing on a month-over-month basis, and would look for not only a peak but also signs that the cost of living is moving lower.Her comments come the same day as fellow regional Fed presidents Mary Daly of San Francisco and Charles Evans of Chicago said they also think there are more hikes ahead. Evans tempered his remarks with hopes that the Fed may not have to go to extremely restrictive policy to control inflation.—Jeff CoxThe 10-year yield traded in a wide range Tuesday, and may have found a near-term bottomThe 10-year Treasury yield traded in a large, volatile range Tuesday, and possibly has found a near-term bottom, strategists say. The yield was at 2.71% in afternoon trading, coming off a low of 2.52% at about 8:30 a.m. ET, according to Wells Fargo's Michael Schumacher. "For me, looking out over the next few months, to the end of September, I think yields are a fair amount higher than they are today," he said. Yields move opposite price."I think it probably has bottomed," he said, noting the yield could return to the year high of 3.49%.Greg Faranello of AmeriVet Securities said separate comments Tuesday from San Francisco Fed President Mary Daly; Chicago Fed President Charles Evans, and Cleveland Fed President Loretta Mester all reinforced a hawkish tone. That helped yields move higher, as did a report that House Speaker Nancy Pelosi's plane landed safely in Taiwan earlier today."There's been a little bit of geopolitical nervousness," said Faranello. He said Fed officials are pushing back on the view of some investors that the Fed will soon pivot from its hiking policies."Even Daly, who is a bit of a dove, says we're nowhere near done," he said. "The Fed speak has been 110% unequivocally bearish. There's not even a doubt in my mind."--Patti DommHousehold debt hits record $16.2 trillion amid inflation burstHousehold debt passed $16 trillion for the first time as Americans paid more for autos and real estate and increasingly used credit cards for their purchases, the New York Federal Reserve reported Tuesday.Total debt rose $312 billion, most of which came from a $207 billion increase in mortgage debt. The total American IOU across all forms rose to $16.15 trillion, a 2% increase.Credit card balances rose the most in more than 20 years over the past 12 months, while non-housing credit balances showed their biggest quarterly gain since 2016. The increases come amid surging inflation and as the Fed raises rates, which makes all forms of debt, particularly mortgages, more expensive.—Jeff CoxLots of bad news already discounted, MRB Partners saysStocks have rallied off their June lows even as strong inflation persists, economic growth slows and the Federal Reserve continues to raise rates. One reason for that may be that the market has already priced in much of the bad news out there, according to research firm MRB Partners. "After de-rating dramatically in the first-half of this year, many investors fear that a significant decline in corporate profits looms, signaling much more pain ahead for stock prices," MRB said in a note Tuesday. "That said, from our perspective of a mid/late-cycle slowdown, stocks prices have discounted a lot of bad news," they said. "Our comparatively constructive economic outlook implies that the selloff in equities and other risk assets is somewhat overdone and there is room for a partial re-rating, provided interest rate expectations and bond yields remain calm for a period."They also noted that the Fed will not "sacrifice the U.S. expansion for the sake of achieving a specific inflation rate at a specific time."—Fred ImbertChicago Fed President Evans hopes for smaller rate hikes in coming meetings Chicago Federal Reserve Bank President Charles Evans on Tuesday said he thinks the central bank could hand out smaller interest rate increases in coming meetings if inflation continues to tick down. He hopes that the Fed can proceed with a half-percentage point hike in September, he told reporters Tuesday. Following that move, he'd like to see the central bank hand out a series of quarter-percentage-point increases until the start of the second quarter next year. Overall, he said that he thinks the Fed will have to raise rates between 3.75% and 4% by the end of the year. — Carmen ReinickeStocks midday: S&P 500, Nasdaq Positive, Dow slipsStocks were mixed in midday trading. At about 12:30 p.m. ET, the S&P 500 was up 0.4%, having gained from being down as much as 1% earlier in the session. The Nasdaq Composite was also in the green, up 0.89%, supported by a more than 17% jump in Uber. The Dow lagged the other averages and was down about 54 points in the early afternoon. It was dragged lower by shares of Caterpillar, which slipped more than 3% on an earnings miss. — Carmen ReinickeFederal Reserve President remarks lift stocks The S&P 500 and the Nasdaq Composite gained Tuesday afternoon following comments from regional Federal Reserve Bank presidents on what may be ahead in interest rate hikes as the central bank looks to keep inflation in check.San Francisco Fed President Mary Daly on Tuesday said that the bank is "nowhere near almost done" with interest rate hikes following the second consecutive 75 basis-point increase at its last meeting."We have made a good start and I feel really pleased with where we've gotten to at this point," she said on CNBC.Later, Chicago Fed President Charles Evans said that a 50 basis-point hike in September would be reasonable, and another 75 basis-point increase would also be ok.— Carmen ReinickeJetBlue slumps after high costs lead to earnings miss — Carmen ReinickeNancy Pelosi lands in TaiwanHouse Speaker Nancy Pelosi landed in Taiwan safely on Tuesday, even amid China's threats that there would be "serious consequences" for her visit.The escalating rhetoric left investors somewhat skittish ahead of Pelosi's arrival, with the major U.S. stock averages falling on Tuesday before the landing. The S&P 500 climbed into the green and was last flat in trading shortly after Pelosi arrived as traders bet China allowing the plane to land means tensions would soon ease. The benchmark was down 0.9% earlier in the session.—Fred ImbertDefense contractors catch a bid as Pelosi Taiwan visit loomsPredictably, leading defense contractors caught a bid early Tuesday– bucking a softer stock market elsewhere –as headlines that House Speaker Nancy Pelosi would soon land in Taipei added to geopolitical tensions between the U.S. and the People's Republic of China. Lockheed Martin was ahead 2.4%, Northrop Grumman added 2%, Raytheon Technologies climbed 0.9%, General Dynamics rose 0.6% and Huntington Ingalls advanced 0.1%.—Scott SchnipperBill Ackman calls for further rate hikesBill Ackman, founder and CEO of Pershing Square Capital Management.Adam Jeffery | CNBC Hedge fund manager Bill Ackman said on "Squawk Box" that the Federal Reserve needs to hike rates to around 4% or higher in order to fight off inflation."I think rates are going to need to stay 4%-plus for the foreseeable future — 12 to 18 months, or so — in order to kill this inflation. And they may need to take rates higher," Ackman said. "The biggest risk to the markets is that people are not pricing that in."Ackman's Pershing Square has interest rate hedges in place that would benefit from short-term rates and the 30-year Treasury yield moving higher, he said.Check out the full interview here.— Jesse PoundJob openings plunge in June The June Job Openings and Labor Turnover Survey, released Tuesday morning by the Bureau of Labor Statistics, showed that job openings fell to 10.7 million. That was much lower than economist expectations of an 11.14 million print.The largest decreases in job openings were in retail trade, wholesale trade and state and local government education.— Carmen ReinickeStocks open lower, led by Dow's 266 point dropStocks opened lower Tuesday as traders digested tensions with China over House Speaker Nancy Pelosi's Taiwan visit, a new round of earnings reports and economic data coming later in the day. The Dow slipped more than 260 points and was weighed down by Caterpillar, which slumped more than 4% on weaker-than-anticipated earnings. The S&P 500 slipped 0.53% and the Nasdaq Composite was down 0.30%. — Carmen Reinicke CNBC's Jim Cramer says inflation has peaked, citing drop in oil prices The economy has reached peak inflation, as shown by the recent drop in oil prices, according to a Tuesday tweet from CNBC's Jim Cramer. "The speed of the decline in oil i think puts the lie to the notion, again, that we have not had peak inflation," Cramer wrote. "The inflationistas simply refuse to believe it could have peaked regardless of the evidence." Data pointing to a global manufacturing downturn caused oil prices to slip further from their highs this week, though they recovered somewhat since.—Sarah MinStocks may move higher after Pelosi lands in Taiwan, JPMorgan says Stock markets may shrug off House Speaker Nancy Pelosi's visit to Taiwan Tuesday, especially if there is no immediate reaction from China, JPMorgan wrote in a Tuesday note. "Senators from both sides of the aisle have visited Taiwan this year, including Democrats Duckworth and Menendez and Republicans Graham and Scott," analysts wrote. "Some of the Chinese response to those visits were military drills in the Taiwan Strait and military plane flyovers of Taiwan." Thus, parallels to Russia/ Ukraine and the potential for shutting off parts of the global supply chain may be off base, according to the note. "Today, Pelosi's plane is scheduled to land about an hour after the US opens; it there is no immediate reaction you may see markets move higher," JPMorgan analysts wrote. — Carmen ReinickeDon't lose sight of JOLTS data, El-Erian says Investors focused on House Speaker Nancy Pelosi's trip to Taiwan should make sure not to overlook key economic data coming today that could influence the Federal Reserve's path forward, according to Mohamed El-Erian, Allianz chief economic advisor. "There's so much attention on the US China issue, don't lose sight of the JOLTS data," El-Erian said Tuesday on CNBC's "Squawk Box," referring to the Job Openings and Labor Turnover survey due later in the morning. That data is important for the Fed, he added, as they chart their path of potential interest rate hikes. — Carmen ReinickeBank of America says clients have bought stocks for five straight weeksBank of America clients were net buyers of U.S. stocks last week, the fifth straight week of positive inflows, according to a note from strategist Jill Carey Hall. Total inflows were $4 billion, according to the note."All client groups were buyers this week. Buying was led by institutional clients after selling the week before, while hedge funds and private clients were net buyers for the second and fifth consecutive week, respectively," Hall wrote.There was positive net buying in nine of 11 sectors, with Bank of America clients tilting toward cyclical sectors, according to the note.— Jesse PoundPinterest shares still elevated after Elliott Management announces stakeShares of Pinterest were up more than 18% in premarket trading, holding onto a surge from Monday night following activist investor Elliott Management announcing it had taken a stake in the company and was its largest investor. The image-sharing company also reported earnings Monday that disappointed on both earnings and revenue but showed better-than-expected user numbers. — Carmen ReinickeUber surges on earnings revenue beatShares of Uber popped more than 10% in premarket trading after the company reported quarterly earnings that beat Wall Street's expectations for revenue.The company also reported a net loss of $2.6 billion for the quarter, some of which was attributed to investments in Aurora, Grab and Zomato.- Carmen ReinickeImpact of Pelosi trip on marketsMona Mahajan, Edward Jones senior investment strategist, addressed the impact of Pelosi's possible Taiwan visit on markets in a CNBC "Squawk Box" appearance Tuesday:"Geopolitical tension has been a theme we've really been seeing all year that has been weighing on markets. ... The risk and the concern is that we have a Russia-Ukraine 2.0, something that's even more severe coming out of China. I think for now it's a tail risk. I do think the trip will not lead to any real economic disruption, but of course the rhetoric and the headlines start to intensify and it's something we need to watch going forward."—John MelloyCaterpillar drops after reporting earningsCaterpillar shares slid more than 1% after the industrial giant posted mixed quarterly results. The company earned $3.18 per share, beating a Refinitiv consensus forecast of $3.01 per share. However, Caterpillar's revenue of $14.25 billion was just below an estimate of $14.35 billion. —Fred ImbertTreasury yields fall in early tradingU.S. Treasury yields fell in early trading Tuesday ahead of House Speaker Nancy Pelosi's expected trip to Taiwan. The benchmark 10-year rate dropped more than 5 basis points to 2.548%, while the 2-year yield slid to 2.856%.—Fred ImbertOil major BP boosts dividend as quarterly profits jump on high commodity pricesU.K. oil giant BP boosted its dividend on Tuesday as it posted bumper second-quarter profits, benefitting from a surge in commodity prices. Second-quarter underlying replacement cost profit, used as a proxy for net profit, came in at $8.5 billion. The soaring profits gave BP room for a 10% increase in its quarterly dividend payout to shareholders, raising it to 6.006 cents per ordinary share. European stocks retreat, tracking global risk-off sentimentEuropean markets pulled back slightly on Tuesday, tracking risk-off sentiment globally as investors assess whether last month's rally has further to run.The pan-European Stoxx 600 dropped 0.6% by mid-morning in London, with tech stocks shedding 2.1% to lead losses as almost all sectors and major bourses slid into the red. Telecoms gained 0.6%.Earnings remain a key driver of individual share price movement. BP, Ferrari, Maersk and Uniper were among the major European companies reporting before the bell on Tuesday.Chinese stocks drop as tensions rise over Pelosi visitStock futures open flatStock futures opened flat in overnight trading on Monday.Futures tied to the Dow Jones Industrial Average inched 0.06% lower, or 21 points. S&P 500 futures and Nasdaq 100 futures dipped 0.06% and 0.01%, respectively. — Samantha SubinThe upside from here is limited over the next few months, says Truist's LernerInvestors overallocated toward stocks should consider using the current market conditions to trim back their positions as the upside for equities is limited going forward, says Keith Lerner, co-chief investment officer at Truist.According to Lerner, the upside for the market over the next few months is likely capped in the 3% to 5% range, but the downside could exceed that amount."The market's been very resilient, no doubt, and maybe it stays that way for a little bit, but we don't see the risk-reward as that compelling here," he said.This by no means is an indication of the top of the market and equities could squeeze higher, but it is an opportunity to reallocate exposure after last month's strong market rally, Lerner added.-Samantha SubinPinterest shares pop 21% as Elliott Management reveals position as largest investorPinterest shares popped more than 21% after the company posted stronger-than-expected user numbers and Elliott Management revealed it's the largest shareholder in the image-sharing company.Activist investor Elliott said in a statement that it has "conviction in the value-creation opportunity" at Pinterest, calling the social media company a "highly strategic business with significant potential for growth." "As the market-leading platform at the intersection of social media, search and commerce, Pinterest occupies a unique position in the advertising and shopping ecosystems, and CEO Bill Ready is the right leader to oversee Pinterest's next phase of growth," Elliott wrote.Despite the stock move, Pinterest missed estimates for the second quarter on the top and bottom lines. Monthly active users for the period came in 2 million above estimates.— Samantha Subin

Stocks fall a second day on U.S.-China tensions, hawkish comments from Fed leaders.

World August 2, 2022 / 2:53 PM / CBS/AP How Russia is weathering international sanctions How Russia is weathering international sanctions 04:25 A new round of U.S. sanctions targeting Russian elites includes a woman named in news reports as Vladimir Putin's longtime romantic partner.The Treasury Department said Tuesday that the government has frozen the visa of Alina Kabaeva, an Olympic gymnast in her youth and former member of the state Duma, and imposed other property restrictions. The department said she is also head of a Russian national media company that promotes Russia's invasion of Ukraine. In this November 4, 2004 file photo, Russian President Vladimir Putin speaks with gymnast Alina Kabaeva at a Kremlin banquet in Moscow, Russia. ITAR-TASS/AP Critics of the Kremlin and imprisoned Russian rights campaigner Alexey Navalny have been calling for sanctions against Kabaeva, saying her news outlet took the lead in portraying Western commentary on the invasion as a disinformation campaign. The U.K. sanctioned Kabaeva in May and the EU imposed travel and asset restrictions on her in June.Rumors have circulated for years about Kabaeva's personal relationship with the Russian leader. Russian tabloids have dubbed her "Russia's First Mistress" and even the "Secret First Lady." In 2008, Russian newspaper Moskovsky Korrespondent reported that Putin had plans to divorce his longtime wife, Lyudmila, to be with Kabaeva. The paper was shut down two days later. But five years later, Putin announced that he and Lyudmila had separated. Russian retired rhythmic gymnast and politician Alina Kabaeva attends a reception at on February 8, 2014 in Sochi, Russia.  Sasha Mordovets / Getty Images Also named in Treasury's latest sanctions package is Andrey Grigoryevich Guryev, an oligarch who owns the Witanhurst estate, a 25-bedroom mansion that is the second-largest estate in London after Buckingham Palace.His $120 million yacht, the Alfa Nero, was also identified as blocked property. Also sanctioned was his son Andrey Andreevich Guryev and his son's Russian investment firm Dzhi AI Invest OOO.Viktor Filippovich Rashnikov, one of Russia's largest taxpayers, and two subsidiaries of his MMK, which is among the world's largest steel producers, also were slapped with sanctions, AFP reported.   "As innocent people suffer from Russia's illegal war of aggression, Putin's allies have enriched themselves and funded opulent lifestyles," Treasury Secretary Janet Yellen said in a statement."Together with our allies, the United States will also continue to choke off revenue and equipment underpinning Russia's unprovoked war in Ukraine."The State Department also imposed additional visa restrictions and other sanctions.In April, the U.S. imposed sanctions on Putin's adult daughters Katerina Vladimirovna Tikhonova and Maria Vladimirovna Vorontsova. In: Vladimir Putin Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Vladimir Putin's rumored girlfriend Alina Kabaeva hit with new round of U.S. sanctions.

Aug 31, 2020; Flushing Meadows, New York, USA; Novak Djokovic (SRB) serves the ball against Damir Dzumhur (BIH) on day one of the 2020 U.S. Open tennis tournament at USTA Billie Jean King National Tennis Center. Mandatory Credit: Robert Deutsch-USA TODAY Sports/File PhotoRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - There is a petition circulating to allow Novak Djokovic to play at the U.S. Open but the Serbian appears likely to miss the entire North American hardcourt swing barring a sudden change in COVID-19 protocols in the United States and Canada.Djokovic has refused to take the COVID-19 vaccine yet the 21-times Grand Slam winner remains on the entry lists for the ATP 1000 events in Montreal and Cincinnati that serve as tune-ups for the Aug. 29-Sept. 11 U.S. Open in New York.In the case of the U.S. Open, which does not have a vaccine mandate, organisers previously said that per the Grand Slam Rule Book, all eligible players are entered into the main draw based on their ranking 42 days prior to the first Monday of the event.Register now for FREE unlimited access to Reuters.comU.S. Open organisers also said that while they do not have a vaccination mandate in place for players, they will respect the U.S. government's position regarding travel into the country for unvaccinated non-U.S. citizens.Former world number one Djokovic, whose website shows no upcoming events, said last week he was preparing for the U.S. Open as if he will be allowed to compete in the year's final Grand Slam despite not being vaccinated. read more Djokovic's camp and organisers of the three North American hardcourt events did not immediately respond when asked by Reuters on Tuesday for comment.The hashtag #LetNovakPlay was circulating on social media as a slew of Djokovic supporters voiced their support for a player who moved to within one of Spaniard Rafa Nadal's record of 22 Grand Slam titles after his Wimbledon triumph last month."Tennis is not interesting or authentic when the best are not allowed to compete," one Twitter user wrote while another felt winning a tournament where Djokovic is not able to play is less impressive: "There will be an * after every tournament winners name where Novak isn't allowed to play!"Another post with the same hashtag brought up U.S. President Joe Biden, who is fully vaccinated and twice boosted but tested positive on Saturday just three days after having emerged from isolation after testing positive for the first time on July 21."Quadruple-vaxxed Biden tested positive for Covid again. But unvaccinated Covid-recovered Djokovic can't play in U.S. Open. He is apparently too big a risk to the U.S. healthcare system," the tweet read.An online petition that launched a month ago calling for the United States Tennis Association to work with the U.S. government to allow Djokovic to compete in the U.S. Open was edging closer to its target of 50,000 signatures on Tuesday.The focus on Djokovic's status ahead of a Grand Slam is far from new as he was unable to defend his Australian Open crown this year after being deported from the country over his vaccination status in January.Djokovic has previously said he was prepared to miss Grand Slam tournaments rather than take the COVID-19 vaccine.Register now for FREE unlimited access to Reuters.comReporting by Frank Pingue in Toronto; Additional reporting by Manasi Pathak in Bengaluru, editing by Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.

Djokovic likely to miss U.S. Open over COVID-19 vaccine status.

Starbucks on Tuesday reported better-than-expected quarterly earnings and revenue, despite lockdowns in China weighing on its performance.Shares of the company rose more than 1% in extended trading.Here's what the company reported for the quarter ended July 3 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:Earnings per share: 84 cents adjusted vs. 75 cents expectedRevenue: $8.15 billion vs. $8.11 billion expectedThe coffee giant reported fiscal third-quarter net income attributable to Starbucks of $912.9 million, or 79 cents per share, down from $1.15 billion, or 97 cents per share, a year earlier. The company said that inflation and higher wages for baristas weighed on its margins this quarter.Net sales rose 9% to $8.15 billion. The company reported global same-store sales growth of 3%, fueled by a strong performance in the United States.In Starbucks' home market, same-store sales increased 9%, driven largely by higher average order totals. Traffic also ticked up 1%, a rarity in the restaurant industry as other chains see low-income consumers visiting less often.Outside the U.S., same-store sales fell 18%, weighed down by plummeting demand in China. The country, which is Starbucks' second-largest market, spent two-thirds of the quarter under restrictions to curb the spread of Covid. As a result, China's same-store sales plunged 44%. The company is still seeing periodic short-term closures in China. Last quarter, Starbucks pulled its outlook for fiscal 2022, citing the uncertainty caused by Covid outbreaks in China. The company did not issue a new forecast this quarter.Starbucks opened 318 net new locations worldwide during the quarter, bringing its global restaurant count to 34,948.Read the full earnings report here.Correction: An earlier version of this story misstated Refinitiv estimates for Starbucks' quarterly revenue.

Starbucks beats earnings and revenue estimates, despite lockdowns in China.

The logo of Brazil's state-run Petrobras oil company is seen on a tank in at Petrobras Paulinia refinery in Paulinia, Brazil July 1, 2017. REUTERS/Paulo WhitakerRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Brazil's state-controlled oil company Petrobras (PETR4.SA) will distribute at least twice as much as the biggest international oil producers in second quarter dividends, boosting the government's coffers amid a tense presidential campaign.The five biggest Western oil producers - Exxon Mobil Corp (XOM.N), Chevron Corp. (CVX.N), Shell PLC (SHEL.L), TotalEnergies (TTEF.PA) and BP (BP.L) - posted record cash distributions to shareholders in recent days between $4-7.6 billion. But none came close to Petrobras's $17 billion payout.Brazil's government, which controls the producer with a majority of its voting shares, last month asked Petrobras and other state-controlled companies to increase dividends to finance extra federal spending.Register now for FREE unlimited access to Reuters.comThe cry for help came as the government of President Jair Bolsonaro, who later this year faces a tough reelection battle, last month bypassed a constitutional spending cap to finance a massive cash transfer program popular among low-income voters. read more Petrobras will distribute about 60% more to shareholders than its $10.5 billion (54.33 billion reais) profit. Critics said the huge payout will lead to underinvestment in the business. read more Petrobras' dividends were less than at Saudi Arabia's state-controlled Saudi Aramco, the world's largest oil company, which produces 13 million barrels of oil equivalent per day (boed), almost five times more than Petrobras.Saudi Aramco has been distributing $18.76 billion to shareholders per quarter. Its next dividend will be disclosed on Aug. 14.U.S. producer Exxon, which posted the highest quarterly profit of the five, spent $7.6 billion on shareholder distributions. read more Bolsonaro is trying to boost his re-election chances by ramming through short-term spending measures, critics say. Polls show he is lagging leftist former President Luiz Inacio Lula da Silva. read more Dividend payments will be made by Petrobras before the first round of voting, scheduled for Oct. 2. read more On a webcast last week, Petrobras executives said the extraordinary dividend payment does not affect the company's investment plans. Petrobras expects to retain between $8-10 billion in cash this year and reaffirmed a commitment to distribute at least 60% of its free cash flow to investors."It is our understanding that this is the best cash allocation for the company's cash," Chief Financial Officer Rodrigo Araujo told reporters.Register now for FREE unlimited access to Reuters.comReporting by Sabrina Valle Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Petrobras leapfrogs oil majors in dividend payouts by more than 50%.

Lisa Su, president and chief executive officer of Advanced Micro Devices Inc. (AMD), speaks during a launch event in San Francisco, California, U.S., on Wednesday, Aug. 7, 2019.David Paul Morris | Bloomberg | Getty ImagesAMD reported results for the quarter ending in June that beat estimates for profit and revenue, but the chipmaker gave a forecast for the current quarter that trailed Wall Street expectations.AMD stock fell 4% in extended trading.Here's how AMD did per Refinitiv consensus expectations:EPS: $1.05, adjusted, versus $1.03 expectedRevenue: $6.55 billion, versus $6.53 billion expectedThe chipmaker said it expected $6.7 billion in revenue during the current quarter, plus or minus $200 million. Analysts expected $6.83 billion.AMD currently has a significant market opportunity as its primary rival for PC and server processors, Intel, stumbles with execution.AMD's chips have surpassed Intel's in terms of performance, and investors are looking to see if the company has the supply and execution to take market share.AMD said that data center sales rose 83% year-over-year to $1.5 billion. Server chip sales are critical AMD as it seeks to take market share from Intel.Client segment revenue, which is comprised of PC sales, rose 25% to $2.2 billlion during the quarter despite signs that computer sales have been slowing at the end of a two-year pandemic-fueled boom.Sales of chips for consoles like the Playstation 5 and Xbox Series X were also a highlight for AMD during the quarter. Gaming segment sales rose 32% year-over-year to $1.7 billion.AMD stock is down over 31% so far in 2022 as investors have been selling fast-growing semiconductor stocks in the face of inflation and recession fears.

AMD beats on earnings and revenue, but third-quarter forecast comes in light.

MoneyWatch August 2, 2022 / 2:35 PM / AP It's one of the seafood industry's most gruesome hunts. Every year, the fins of as many as 73 million sharks are sliced from the backs of the majestic sea predators, their bleeding bodies sometimes dumped back into the ocean where they are left to suffocate or die of blood loss.But while the barbaric practice is driven by China, where shark fin soup is a symbol of status for the rich and powerful, America's seafood industry isn't immune from the trade. A spate of recent criminal indictments highlights how U.S. companies, taking advantage of a patchwork of federal and state laws, are supplying a market for fins that activists say is as reprehensible as the now-illegal trade in elephant ivory once was. A complaint quietly filed last month in Miami federal court accused an exporter based in the Florida Keys, Elite Sky International, of falsely labeling some 5,666 pounds of China-bound shark fins as live Florida spiny lobsters. Another company, south Florida-based Aifa Seafood, is also under criminal investigation for similar violations, according to two people on the condition of anonymity to discuss the ongoing probe.  The company is managed by a Chinese-American woman who in 2016 pleaded guilty to shipping more than a half-ton of live Florida lobsters to her native China without a license.The heightened scrutiny from law enforcement comes as Congress debates a federal ban on shark fins — making it illegal to import or export even foreign-caught fins. Every year, American wildlife inspectors seize thousands of shark fins while in transit to Asia for failing to declare the shipments. This picture shows sharks with their fins removed for sale at a fishing port in Banda Aceh on July 15, 2021. CHAIDEER MAHYUDDIN/AFP via Getty Images While not all sharks are killed just for their fins, none of the other shark parts harvested in the U.S. and elsewhere — such as its meat, jaws or skin — can compete with fins in terms of value. Depending on the type of shark, a single pound of fins can fetch hundreds of dollars, making it one of the priciest seafood products by weight anywhere."If you're going out of business because you can no longer sell fins, then what are you actually fishing for?," said Whitney Webber, a campaign director at Washington-based Oceana, which supports the ban. Since 2000, federal law has made it illegal to cut the fins off sharks and discard their bodies back into the ocean. However, individual states have wide leeway to decide whether or not businesses can harvest fins from dead sharks at a dock, or import them from overseas. The legislation working its way through Congress would impose a near-total ban on trade in fins, similar to action taken by Canada in 2019. The legislation, introduced in 2017 by a bipartisan group of lawmakers, has majority support in both the House and Senate.Among those opposing the proposed ban is Elite, which has hired lobbyists to urge Congress to vote against the bill, lobbying records show. It's not known where Elite obtained its fins. But in the criminal complaint, the company was also accused of sourcing lobster from Nicaragua and Belize that it falsely stated was caught in Florida. The company, affiliated with a Chinese-American seafood exporter based in New York City, was charged with violating the Lacey Act, a century-old statute that makes it a crime to submit false paperwork for any wildlife shipped overseas.An attorney for Elite wouldn't comment nor did two representatives of Aifa when reached by phone. 71% decline in shark speciesOverfishing has led to a 71% decline in shark species since the 1970s. The International Union for Conservation of Nature, a Switzerland-based group that tracks wildlife populations, estimates that over a third of the world's 500-plus shark species are threatened with extinction.Contrary to industry complaints about excessive regulations, the U.S. is hardly a model of sustainable shark management, said Webber. She pointed to a recent finding by the National Oceanic and Atmospheric Administration that less than 23% of the 66 shark stocks in U.S. waters are safe from overfishing. The status of more than half of shark stocks isn't even known. The situation in Europe is even worse: a new report from Greenpeace, called "Hooked on Sharks," revealed what it said is evidence of the deliberate targeting of juvenile blue sharks by fishing fleets from Spain and Portugal. The report found that the U.S. is the world's fourth-largest shark exporter behind Spain, China and Portugal, with exports of 3.2 million kilograms of meat — but not fins — worth over $11 million in 2020.Webber said rather than safeguard a small shark fishing industry, the U.S. should blaze the trail to protect the slow-growing, long-living fish."We can't ask other countries to clean up their act if we're not doing it well ourselves," said Webber.She said the current laws aren't enough of a deterrent in an industry where bad actors drawn by the promise of huge profits are a recurrent problem. Scientists explain the fear of great white sharks 06:34 Case in point: Mark Harrison, a Florida fisherman who in 2009 pleaded guilty to three criminal counts tied to his export of shark fins, some of them protected species. He was ordered to pay a $5,000 fine and was banned from having anything to do with the shark fin trade for five years.But federal prosecutors allege that he reconnected to associates of his former co-conspirators in 2013 in violation of the terms of his probation. He was arrested in 2020 on mail and wire fraud conspiracy charges as part of a five-year investigation, called Operation Apex, targeting a dozen individuals who also allegedly profited from drug trafficking. Prosecutors allege Harrison's Florida-based Phoenix Fisheries was a "shell company" for individuals based in California, where possession of fins has been illegal since 2011. As part of the bust, the Feds found documents about some six tons of shark fin exports and seized 18 totoaba fish bladders, a delicacy in Asia taken from an endangered species. They also seized 18,000 marijuana plants, multiple firearms and $1 million in diamonds — pointing to a criminal enterprise that transcended illegal seafood and stretched deep into the Mexican and Chinese mafia underworlds. "This operation is about much more than disrupting the despicable practice of hacking the fins off sharks and leaving them to drown in the sea to create a bowl of soup," Bobby Christine, then U.S. Attorney for the Southern District of Georgia, said at the time. An attorney for Harrison declined to comment on the case, which has yet to go to trial. But unlike his co-defendants, Harrison isn't implicated in any drug-related or weapons offenses. Supporters say he has complied with all laws and is being unfairly targeted by bureaucrats overlooking the key role he played in the 1980s, when sharks were even more threatened, developing the U.S. shark fishery."They appear to be using the current widespread empathy toward sharks for publicity and career advancement in what would otherwise be a very routine matter," reads a website run by supporters seeking to raise $75,000 for a "Shark Defense Fund" to help Harrison fight the charges. "In the process, they are seeking to tarnish Mark's reputation and deal a blow to the American shark fishery," according to the website, which was taken down after the AP started making inquiries.Fishing ban could backfireDemian Chapman, who heads shark research at the Mote Marine Laboratory in Sarasota, Florida, said that the push to ban commercial fishing of sharks could backfire."If you subtract the U.S. from the fin trade entirely, it won't do anything to directly affect international demand, and it's likely that other countries, with far less regulation of their fisheries, will fill the void," said Chapman.He said the bill introduced by Sen. Cory Booker, a Democrat of New Jersey, appears to be driven by "shark fans" — not "shark fins" — and those who want to see the fish species afforded the same very high level of protection afforded to marine mammals and sea turtles. He said few in the U.S. are involved in the cruel, wasteful practice of shark finning and that the U.S.' role as a transit hub for fins can be remedied without punishing American fishers. "There's a disconnect between perceptions and reality," said Chapman. "In the 25 years I've been studying sharks, they've gone from demon fish to a group of species that many people want to protect. This is great but we have to support science-based management measures that address the real problems." In: United States Congress shark Hunting United States Senate Economy Agriculture Environment cory booker Miami China Florida Asia Crime Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Feds target U.S. companies caught in lucrative shark fin trade.

MicroStrategy's Michael Saylor is leaving his role as CEO to become Executive Chairman of the company, according to a statement released by the company on Tuesday afternoon. The company's president, Phong Le, will take the reins from Saylor.Saylor has been in the role of chief executive since launching the company in 1989. MicroStrategy went public in 1998.MicroStrategy's stock is down over 48% this year. Bitcoin is down over 51% during that same time period."I believe that splitting the roles of Chairman and CEO will enable us to better pursue our two corporate strategies of acquiring and holding bitcoin and growing our enterprise analytics software business. As Executive Chairman I will be able to focus more on our bitcoin acquisition strategy and related bitcoin advocacy initiatives, while Phong will be empowered as CEO to manage overall corporate operations," said Mr. Saylor in the release.MicroStrategy may technically be in the business of enterprise software and cloud-based services, but Saylor has said the publicly traded company doubles as the first and only bitcoin spot exchange-traded fund in the U.S."We're kind of like your nonexistent spot ETF," Saylor told CNBC on the sidelines of the Bitcoin 2022 conference in Miami.

Microstrategy CEO Saylor moves to chairman role, focusing on strategy and bitcoin.

Dan Schulman, president and chief executive officer of PayPal Holdings Inc., arrives for the morning session of the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, U.S., on Wednesday, July 10, 2019. The 36th annual event gathers many of America's wealthiest and most powerful people in media, technology, and sports.Patrick T. Fallon | Bloomberg | Getty ImagesPayPal shares rosem as much as 13% in extended trading on Tuesday after the financial services firm issued stronger-than-expected second-quarter results. In its earnings materials PayPal said it had entered into an information-sharing agreement on value creation with Elliott Management."As one of PayPal's largest investors, with an approximately $2 billion investment, Elliott strongly believes in the value proposition at PayPal. PayPal has an unmatched and industry-leading footprint across its payments businesses and a right to win over the near- and long term," Elliott Managing Partner Jesse Cohn was quoted as saying in an PayPal earnings presentation. The news comes a day after Elliott said it had become the top investor in social-network operator Pinterest.Here's how PayPal did in the second quarter:Earnings: 93 cents per share, adjusted, vs. 86 cents per share as expected by analysts, according to Refinitiv.Revenue: $6.81 billion, vs. $6.79 billion as expected by analysts, according to Refinitiv.PayPal announced a "comprehensive evaluation of capital return alternatives" as it said it revealed a $15 billion share buyback program.For the full year, PayPal said it expects $3.87 to $3.97 in adjusted earnings per share. Analysts polled by Refinitiv had expected $3.82 per share.Notwithstanding the after-hours move, PayPal shares had fallen 52% so far this year.Executives will discuss the results with analysts on a conference calls starting at 5 p.m. ET.This story is developing. Please check back for updates.

PayPal jumps as Elliott Management says it has a $2 billion holding in the financial-services company.

The PayPal app logo seen on a mobile phone in this illustration photo October 16, 2017. REUTERS/Thomas White/IllustrationRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - PayPal Holdings (PYPL.O) said on Tuesday Elliott Investment Management has an over $2 billion investment in the company, making the activist investor one of the largest shareholders in the fintech firm.Paypal's shares extended gains after the bell, rising as much as 11.8%.The company also announced a slew of moves including appointing Blake Jorgensen as Paypal's new chief financial officer and a new $15 billion repurchase program. Blake, who takes over the role on Wednesday, joins PayPal from Electronic Arts (EA.O).Register now for FREE unlimited access to Reuters.comPayPal has "an unmatched and industry-leading footprint across its payments businesses," said Jesse Cohn, a managing partner at Elliot, a day after the investment firm disclosed a similar stake in Pinterest Inc (PINS.N). read more PayPal, which was among companies that won big during the pandemic, saw shares wipe out over 70% of their market value in a year as e-commerce growth retreated from pandemic-era records.The company earned a profit of 93 cents for the three months ended June 30, lower than $1.15 per share a year earlier.PayPal's revenue rose 10% on an FX neutral basis to $6.8 billion as payment volumes leapt 13%.Register now for FREE unlimited access to Reuters.comReporting by Mehnaz Yasmin in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

PayPal shares jump after it reveals $2 bln stake held by Elliott, announces new CFO.

Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - Al Qaeda leader Ayman al-Zawahiri was killed in a U.S. strike in Afghanistan over the weekend, the biggest blow to the militant group since its founder Osama bin Laden was killed in 2011. read more Zawahiri had been in hiding for years and the operation to locate and kill him was the result of "careful patient and persistent" work by the counter-terrorism and intelligence community, a senior administration official told reporters.Until the U.S. announcement, Zawahiri had been rumored variously to be in Pakistan's tribal area or inside Afghanistan.Register now for FREE unlimited access to Reuters.comSpeaking on the condition of anonymity, the official provided the following details on the operation:* For several years, the U.S. government had been aware of a network that it assessed supported Zawahiri, and over the past year, following the United States' withdrawal from Afghanistan, officials had been watching for indications of Al Qaeda's presence in the country.This year, officials identified that Zawahiri's family - his wife, his daughter and her children - had relocated to a safe house in Kabul and subsequently identified Zawahiri at the same location.* Over several months, intelligence officials grew more confident that they had correctly identified Zawahiri at the Kabul safe house and in early April started briefing senior administration officials. Jake Sullivan, National Security Advisor, subsequently briefed President Joe Biden."We were able to build a pattern of life through multiple independent sources of information to inform the operation," the official said.Osama bin Laden sits with his adviser Ayman al-Zawahiri, an Egyptian linked to the al Qaeda network, during an interview with Pakistani journalist Hamid Mir (not pictured) in an image supplied by Dawn newspaper November 10, 2001. Hamid Mir/Editor/Ausaf Newspaper for Daily Dawn/Handout via REUTERS/ Once Zawahiri arrived at the Kabul safe house, officials were not aware of him leaving it and they identified him on its balcony - where he was ultimately struck - on multiple occasions, the official said.* Officials investigated the construction and nature of the safe house and scrutinized its occupants to ensure the United States could confidently conduct an operation to kill Zawahiri without threatening the structural integrity of the building and minimizing the risk to civilians and Zawahiri's family, the official said.* In recent weeks, the president convened meetings with key advisors and Cabinet members to scrutinize the intelligence and evaluate the best course of action. On July 1, Biden was briefed on a proposed operation in the White House Situation Room by members of his cabinet including CIA Director William BurnsBiden "asked detailed questions about what we knew and how we knew it" and closely examined a model of the safe house the intelligence community had built and brought to the meeting.He asked about lighting, weather, construction materials, and other factors that could affect the success of the operation, the official said. The president also requested analysis of the potential ramifications of a strike in Kabul.* A tight circle of senior inter-agency lawyers examined the intelligence reporting and confirmed that Zawahiri was a lawful target based on his continuing leadership of Al Qaeda.On July 25, the president convened his key Cabinet members and advisors to receive a final briefing and discuss how killing Zawahiri would affect America's relationship with the Taliban, among other issues, the official said. After soliciting views from others in the room, Biden authorized "a precise tailored air strike" on the condition that it minimize the risk of civilian casualties.* The strike was ultimately carried out at 9:48 p.m. ET (0148 GMT) on July 30 by a drone firing so-called "hellfire" missiles.Reuters Graphics Reuters GraphicsRegister now for FREE unlimited access to Reuters.comWriting by Michelle Price; reporting by Eric Beech, Alex Alper, Idrees Ali, and Jeff Mason; editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

How the CIA identified and killed Al-Qaeda leader Zawahiri.

MoneyWatch August 2, 2022 / 3:37 PM / MoneyWatch State abortion laws in flux since Roe overturned State abortion laws in flux since Supreme Court overturned Roe v. Wade 06:04 Residents of Georgia can claim embryos as dependents on their tax returns, according to guidance issued Monday by tax officials in the state.The Georgia Department of Revenue said it released the tax rules in light of the Supreme Court's June ruling overturning Roe v. Wade and of the state's abortion ban, which went into effect last month and describes an embryo as a "natural person," granting it personhood status. The agency said that as of July 20 it would recognize "any unborn child with a detectable human heartbeat" as eligible for the state's individual income tax dependent exemption.  That means would-be parents may claim embryos as dependents after as early as six weeks gestation. Claiming a dependent on their tax return allows Georgia residents to receive a $3,000 dependent personal exemption for each embryo. So someone who is expecting twins could claim $6,000 under the new guidance. Georgia residents should be ready to provide medical records or other documentation if the state's Department of Revenue wants to see evidence, the guidance notes.  Surveillance state?But the policy raises a host of questions, according to Anthony Michael Kreis, a Georgia State University law professor and political scientist, who tweeted that the state's tax department "will be part of the healthcare surveillance state.""And given that between 10 and 15 percent of pregnancies end in miscarriages, state tax workers will have their work cut out for them," he wrote. Yes. The Georgia Department of Revenue will be part of the healthcare surveillance state. And given that between 10 and 15 percent of pregnancies end in miscarriages, state tax workers will have their work cut out for them. https://t.co/iHCu3AkU3T— Anthony Michael Kreis (@AnthonyMKreis) August 2, 2022 Under the federal tax code, by contrast, a child must be have been born to be claimed on a parent's tax filing. But some Republican lawmakers have pushed to change IRS rules to allow people to claim tax credits for fetuses, such as one bill earlier this year that proposes to let people claim Child Tax Credit payments for embryos.The concept of "personhood" has legal implications for the rights of a fetus versus those of the parent, and is a longstanding issue on both sides of the abortion debate. Following the Supreme Court's ruling in Roe v. Wade and with more states restricting abortions or granting "personhood" status to fetuses, questions are arising about how fetuses should be treated under the law.  Pregnant woman ticketed in Texas for driving in carpool lane argues unborn baby was a second person 01:43 In one high-profile case last month, a pregnant Texas woman who was ticketed for driving in a high-occupancy vehicle lane chose to dispute the fine, claiming her unborn baby should count as a second person following the Supreme Court's decision.  Some Republican lawmakers also want to change laws around child support, introducing a bill last month that would require prospective fathers to pay child support from the moment of conception.  In: Taxes Abortion Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Georgia says residents can claim embryos as dependents on their tax returns.

Ukraine's President Volodymyr Zelenskiy attends a joint news conference with Lithuanian President Gitanas Nauseda, as Russia's attack on Ukraine continues, in Kyiv, Ukraine July 28, 2022. Ukrainian Presidential Press Service/Handout via REUTERS Register now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Ukrainian President Volodymyr Zelenskiy on Tuesday asked his government to look into whether same-sex marriages should be legalised but said there would be no move as long as the war with Russia continued.Kyiv has increased support for LGBTQ+ rights since Western-backed leaders came to power in 2014. Parliament passed legislation in 2015 to ban discrimination in the workplace, but it does not allow for same-sex marriage.Zelenskiy - who noted the government was already looking at the legalisation of same-sex relationships - was responding to an electronic petition pressing specifically for the legalisation of same sex marriages.Register now for FREE unlimited access to Reuters.com"I asked Prime Minister (Denys) Shmyhal to address the issue raised in the electronic petition and to inform me of relevant decisions," he said in an official decree.He noted the Ukrainian constitution defined marriage as being between a man and a woman and said that during wartime, no changes could be made.According to a survey by the sociological group "Rating" published in August 2021, 47% of Ukrainian respondents had a negative view of the LGBTQ+ community. read more Russia has criminalised "propagandising" non-traditional sexual orientations to children since 2013. The law has been used to stop gay pride marches and detain gay rights activists.Register now for FREE unlimited access to Reuters.comReporting by David Ljunggren; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Ukraine president asks gov't to study legalising same-sex marriages.

Conservative leadership candidate Liz Truss attends a hustings event, part of the Conservative party leadership campaign, in Exeter, Britain, August 1, 2022. REUTERS/Peter NichollsRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - Foreign Secretary Liz Truss has a 34 point lead over former finance minister Rishi Sunak among the Conservative Party members who will decide Britain's next prime minister, a YouGov poll for The Times newspaper showed on Tuesday.The poll, which The Times said was conducted over the past five days, showed 60% support for Truss versus 26% for Sunak, with the remainder undecided.Register now for FREE unlimited access to Reuters.comReporting by David Milliken; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

UK's Liz Truss has 34 point lead over Sunak - YouGov/Times poll.

Al Qaeda leader Ayman al-Zawahiri, who was killed in a CIA drone strike in Afghanistan over the weekend according to U.S. officials, appears in an undated FBI Most Wanted poster. FBI/Handout via REUTERSRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - Two Hellfire missiles fired from a drone killed the leader of al Qaeda, causing surprisingly little damage beyond the target, suggesting they may be a version of the missile shrouded in secrecy and used by the United States to avoid non-combatant casualties.Officials said the missiles killed al Qaeda leader Ayman al-Zawahiri while he stood on a balcony at his home in downtown Kabul, Afghanistan, over the weekend in the biggest blow to the militants since Osama bin Laden was killed in 2011. read more A senior administration official told reporters two Hellfire missiles were fired from an unmanned aerial vehicle at Zawahiri. U.S. officials said no one else was killed or wounded in the attack.Register now for FREE unlimited access to Reuters.comU.S. officials said the CIA was responsible for the strike. The agency declined to comment. read more Hellfire missiles, mostly made by Lockheed Martin (LMT.N), are precision guided munitions for air-to-ground strikes that normally cause significant damage, taking down whole buildings and killing or severely injuring anyone nearby.Social media images of the strike pointed to the hallmarks of a modified Hellfire called the R9X with six blades to damage targets, sources familiar with the weapon said. It is largely aimed at individual targets, such as militants in Syria.The images showed windows destroyed on the second floor while the structure of the house remained intact despite being hit by Hellfires.More than 29 entities have Hellfire missile, but very little is acknowledged or publicly known about the modified version.Officials believe the R9X is less likely to cause civilian casualties because instead of exploding, the missile cuts through targets with the sharp blades.The MQ-9 Reaper, made by General Atomics, is the only drone that is publicly known to carry the Hellfire missile.A Pentagon spokeswoman referred a query on the R9X missiles to U.S. Special Operations Command, which would be the prime purchaser of the missile and had no immediate comment.Register now for FREE unlimited access to Reuters.comReporting by Mike Stone and Idrees Ali in Washington; Editing by Howard GollerOur Standards: The Thomson Reuters Trust Principles.

Little-known modified Hellfire missiles likely killed al Qaeda's Zawahiri.

A sign is posted outside of the PayPal headquarters in San Jose, California.Justin Sullivan | Getty ImagesCheck out the companies making headlines in extended trading.Match Group — Shares of the dating app operator tumbled as much as 23% after the company reported revenue of $795 million for the second quarter, compared with FactSet estimates of $803.9 million. Match also issued weak guidance around adjusted operating income and revenue for the current quarter.Solaredge Technologies - The solar-power stock tanked nearly 13% in after-hours trading following disappointing quarterly results. Solaredge reported an EPS of 95 cents, below analysts' expectation of 88 cents per share, according to FactSet. Revenue also came in shy of estimates.PayPal — The payments giant's shares soared 11% after hours following stronger-than-expected second-quarter results and an increase in its forecast. PayPal also revealed it has entered into an information-sharing agreement with Elliott Management.SoFi — Shares climbed more than 7% after the personal finance company reported a beat on the top and bottom lines. "While the political, fiscal, and economic landscapes continue to shift around us, we have maintained strong and consistent momentum in our business," SoFi CEO Anthony Noto said in a statement.Airbnb — Shares of Airbnb fell about 10% in extended trading after the vacation home rental company posted weaker-than-expected revenue for the second quarter. The company also reported more than 103 million booked nights and experiences, the largest quarterly number ever for the company but short of StreetAccount estimates of 106.4 million.Advanced Micro Devices — AMD's shares fell nearly 5% despite reporting strong quarterly earnings and revenue, after the chipmaker issued a weaker-than-anticipated third-quarter forecast. The chipmaker said it expected $6.7 billion in revenue during the current quarter, plus or minus $200 million. Analysts expected $6.83 billion.Caesars Entertainment — The casino company lost about 2% after it reported a quarterly loss of 57 cents per share, which was 74 cents lower than analysts had expected. It also reported a Caesars Digital loss of $69 million, compared with $2 million for the comparable prior-year period.Robinhood — Robinhood slid about 2% after reporting it will cut its headcount by some 23%, after previously laying off 9% in April, and posting a decline in monthly active users and assets under custody for the second quarter. The investing app operator released its results a day ahead of schedule.Starbucks — The coffee chain saw shares edge higher by more than 2% after it reported better-than-expected quarterly results, despite lockdowns in China weighing on its performance. Within the U.S., however, net sales rose 9% to $8.15 billion and same-store sales grew 3%.— CNBC's Sarah Min and Yun Li contributed reporting.

Stocks making the biggest moves after hours: PayPal, Airbnb, MatchGroup, Caesars and more.

Airbnb logo and stock graph are seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Vacation rental Airbnb Inc (ABNB.O) forecast current-quarter bookings at par with the previous quarter, disappointing investors who had expected accelerated growth thanks to summer demand and sending shares down 7%.Booking rates slowed in May and June from April, the company said.However, it posted a 58% rise in quarterly revenue thanks to early bookings in April by travelers across Europe and North America looking to visit their favorite tourist spots both domestic and international.Register now for FREE unlimited access to Reuters.comThe rental firm also announced a $2 billion share buyback, its first since going public.The San Francisco-based company expects current-quarter revenue between $2.78 billion and $2.88 billion, higher than analysts' estimates of $2.77 billion, according to Refinitiv IBES.It reported a net profit of $379 million, or 56 cents per share, ahead of analysts' estimates of 43 cents per share.Register now for FREE unlimited access to Reuters.comReporting by Aishwarya Nair in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Airbnb's moderate bookings forecast disappoints investors, shares slide.

World August 2, 2022 / 2:30 PM / CBS/AFP We leave you this Sunday swimming among blue sharks off the coast of Rhode Island Nature: Blue sharks 02:51 A snorkeler off the coast of southern England has suffered a suspected shark bite, officials said on Tuesday, in what appears to be an extremely rare incident.The Maritime and Coastguard Agency said it sent a rescue team to Penzance in Cornwall "to meet a snorkeler who suffered a suspected shark bite" after the accident was reported last Thursday. Local media reported the snorkeler was a woman."It is believed the swimmer suffered a leg injury," the coastguard service said, adding that the snorkeler had been treated by the ambulance service. A Cornish tour agency that arranges snorkel trips to watch blue sharks confirmed a participant had received first aid after an "incident."Blue sharks, which grow to nearly 13 feet long, are summer visitors to U.K. waters. They are hunters, which migrate through oceans, eating fish and shellfish. The blue shark is classed as "near threatened" by the International Union for Conservation of Nature because it is hunted for its flesh and fins and also gets caught accidentally in fishing nets. A blue shark is pictured in this undated file photo. Auscape/Universal Images Group via Getty Images Blue Shark Snorkel Trips, based in Penzance, wrote on Facebook, "We have had an incident.""First aid (was) carried out on the person involved.""Following advice and assessment from the coastguard, the person walked off the boat and received further treatment ashore," it added. The person injured was not named, but the company quoted them as saying it was a "very scary incident." However, the person added, "I don't for a second want this freak event to tarnish the reputation of an already persecuted species.""These occurrences are extremely rare," the company said.It takes snorkelers to swim with blue sharks 10 to 20 miles offshore, according to its website.It warns that blue sharks are "apex predators" with no natural predators and participants "swim with them knowing there is a risk."Blue shark attacks on humans are extremely rare, according to the British Sea Fishing website. There are four confirmed cases of fatal blue shark attacks on humans and 25 confirmed non-fatal attacks, the website says.Shark attacks increased around the world in 2021 following three consecutive years of decline, officials said in January. The U.S. once again reported the most attacks and Florida accounted for nearly 40% of unprovoked bites worldwide.  Researchers with the International Shark Attack File recorded 73 unprovoked incidents last year, compared to 52 bites in 2020, according to the report.  In: Shark Attack United Kingdom Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Snorkeler injured in suspected shark attack off English coast: "Very scary incident".

Chris Stowers | Bloomberg | Getty ImagesAMD reported results for the quarter ending in June that beat estimates for profit and revenue, but the chipmaker gave a forecast for the current quarter that trailed Wall Street expectations.AMD stock fell 5% in extended trading.Here's how the company did:EPS: $1.05, adjusted, versus $1.03 expected, according to RefinitivRevenue: $6.55 billion, versus $6.53 billion expected, according to RefinitivThe chipmaker said it expected $6.7 billion in revenue during the current quarter, plus or minus $200 million. Analysts expected $6.83 billion.AMD currently has a significant market opportunity as its primary rival for PC and server processors, Intel, stumbles with execution.AMD's chips have surpassed Intel's in terms of performance, and investors are looking to see if the company has the supply and execution to take market share.All four of AMD's major segments grew during the quarter, in which overall revenue rose 70% on a year-over-year basis.AMD said that data center sales rose 83% year-over-year to $1.5 billion. The segment includes chips for cloud computing and large enterprise customers. AMD said the growth was because of strong sales for server processors and that the company doesn't see a slowdown in demand for these chips. Client segment revenue, which is comprised of PC and laptop chip sales, rose 25% to $2.2 billion during the quarter despite signs that computer sales have been slowing at the end of a two-year pandemic-fueled boom. AMD said the growth was attributable to mobile processor sales, likely for laptops.However, AMD CEO Lisa Su said she saw declines in the current quarter for the PC business."We have taken a more conservative outlook on the PC business, so a quarter ago we would have thought that the PC business would be down let's call it high-single digits," Su said. "Our current view of the PC business is that it will be down mid-teens."Su said that AMD believes it is taking market share in the server and PC markets on a call with analysts."I think we do feel like we're in a share gain position," Su said. Sales of chips for consoles like the Playstation 5 and Xbox Series X were also a highlight for AMD during the quarter. Gaming segment sales rose 32% year-over-year to $1.7 billion, driven by sales growth in "semi-custom" chips for consoles. However, graphics processors for gaming PCs declined during the quarter.AMD's embedded segment, which includes chips for networking or cars, reported $1.3 billion in sales, was boosted by AMD's acquisition of Xilinx, which was completed in the first quarter.AMD stock is down 31% so far in 2022 as investors have been selling fast-growing semiconductor stocks in the face of inflation and recession fears.AMD said it repurchased $920 million of its stock during the second quarter.

AMD beats on earnings and revenue, but third-quarter forecast comes in light.

WASHINGTON -- House Speaker Nancy Pelosi landed in Taiwan's capital of Taipei on Tuesday night, kicking off a controversial visit that had already strained the testy relationship between Beijing and Washington before it even began.China has spent weeks warning Pelosi not to come to the disputed territory, which Beijing considers a province of China, but which considers itself an independent nation.These warnings escalated into actions during the hours ahead of Pelosi's arrival, which marked the first time in 25 years that an American House speaker has visited Taiwan. The visit will reportedly last almost 24 hours.Hua Chunying, China's assistant minister of foreign affairs, said in a string of tweets Tuesday that Pelosi's visit to Taiwan was a "major political provocation."On Tuesday, China reportedly levied new import bans on more than 100 Taiwanese products, an apparent effort to impose a quick economic cost on Taipei for its role in Pelosi's high-profile visit.The Chinese military also flexed its muscle by holding live-fire exercises all day Saturday, just 80 miles from Taiwan.On Tuesday, as Pelosi's visit drew near, the People's Liberation Army deployed fighter jets to the Taiwan Strait that flew very close to the center line of the strait, which is rarely crossed.As Pelosi landed Tuesday night, Chinese state-affiliated media announced that more live-fire exercises would be conducted over the coming weekend -- notably, after Pelosi has left the area.For China experts, these military drills and bellicose public statements come as little surprise."This is just something they have to do," said Andrew Mertha, director of the China Global Research Center at the Johns Hopkins School of Advanced International Studies."I would frankly be very surprised if Beijing does anything physically threatening in any meaningful way. I mean, it's not out of the question, but I would really be surprised," he said in an interview with CNBC."What is likely to happen is some sort of subsequent actions to demonstrate that China can do something if it wants to," said Mertha. "And that will be something as much for the domestic audience within China as for the international one."Later this year, Chinese leader Xi Jinping is expected to begin an unprecedented third term as leader of the Chinese Communist Party.Xi's need to consolidate public support and power within his party are the lens through which we should be looking at China's geopolitical actions, diplomats and experts say.And this is exactly what makes Pelosi's visit so provocative.After weeks of Pelosi refusing to confirm or deny or discuss the Taiwan visit, The Washington Post published a scathing op-ed by Pelosi just as she landed Tuesday.Taiwan, she wrote, "is under threat" from Beijing, which she painted as an existential danger to free people everywhere."We take this trip at a time when the world faces a choice between autocracy and democracy," she said. "We cannot stand by as the CCP proceeds to threaten Taiwan — and democracy itself.""Our congressional delegation's visit should be seen as an unequivocal statement that America stands with Taiwan, our democratic partner, as it defends itself and its freedom."But while Pelosi's op-ed was aimed squarely at Xi, this is not the same strategy that President Joe Biden, her fellow Democrat, has chosen to pursue.Biden's approach to China is one that seeks to maintain a stable, predictable relationship with America's biggest trading partner, while also acknowledging that Washington and Beijing are strategic adversaries.Officially, the Biden administration was careful in recent weeks to avoid directly saying whether the president agreed with Pelosi's decision to visit Taiwan. But unofficially, the White House and the Pentagon made little secret of their opposition to it.

China ratchets up military and economic pressure on Taiwan as Pelosi begins her visit.

SummaryPelosi: world faces choice between autocracy, democracyChinese warplanes buzz Taiwan Strait dividing lineOutraged China plans "targeted military operations"White House does not want a crisisTAIPEI, Aug 2 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi arrived in Taiwan late on Tuesday on a trip she said shows an unwavering American commitment to the Chinese-claimed self-ruled island, but China condemned the highest-level U.S. visit in 25 years as a threat to peace and stability in the Taiwan Strait.Pelosi and the rest of her delegation disembarked from a U.S. Air Force transport plane at Songshan Airport in downtown Taipei after the nighttime landing on a flight from Malaysia to begin a visit that risks pushing U.S.-Chinese relations to a new low. They were greeted by Taiwan's foreign minister, Joseph Wu, and Sandra Oudkirk, the top U.S. representative in Taiwan.Her arrival prompted a furious response from China at a time when international tensions already are elevated by Russia's invasion of Ukraine. China considers Taiwan part of its territory and has never renounced using force to bring it under its control. The United States warned China against using the visit as a pretext for military action against Taiwan.Register now for FREE unlimited access to Reuters.com"Our congressional delegation's visit to Taiwan honors America's unwavering commitment to supporting Taiwan's vibrant democracy," Pelosi said in a statement shortly after landing. "America's solidarity with the 23 million people of Taiwan is more important today than ever, as the world faces a choice between autocracy and democracy." read more Pelosi, second in the line of succession to the U.S. presidency, is a long-time China critic.Taiwan's President Tsai Ing-wen will meet with Pelosi on Wednesday morning and then have lunch together, the presidential office said. Pelosi, travelling with six other American lawmakers, became the most-senior U.S. political leader to visit Taiwan since 1997. read more China's foreign ministry said it lodged a strong protest with the United States, saying Pelosi's visit seriously damages peace and stability in the Taiwan Strait, "has a severe impact on the political foundation of China-U.S. relations, and seriously infringes upon China's sovereignty and territorial integrity."Chinese warplanes buzzed the line dividing the Taiwan Strait before her arrival. The Chinese military has been put on high alert and will launch "targeted military operations" in response to Pelosi's visit, the defence ministry said.The Chinese military announced joint air and sea drills near Taiwan starting on Tuesday night and test launches of conventional missiles in the sea east of Taiwan, with Chinese state news agency Xinhua describing live-fire drills and other exercises around Taiwan from Thursday to Sunday. read more Pelosi is on an Asia tour that includes announced visits to Singapore, Malaysia, South Korea and Japan. Her Taiwan visit was unannounced but widely anticipated.In a Washington Post opinion piece released after landing, Pelosi explained her visit, praising Taiwan's commitment to democratic government while criticizing China as having dramatically increased tensions with Taiwan in recent years."We cannot stand by as the CCP proceeds to threaten Taiwan - and democracy itself," Pelosi said, referring to the Chinese Communist Party.Pelosi also cited China's "brutal crackdown" on political dissent in Hong Kong and its treatment of Muslim Uyghurs and other minorities, which the United States has deemed genocide.As Pelosi's motorcade approached her hotel, escorted by police cars with flashing red and blue lights, scores of supporters cheered and ran toward the black vehicles with their arms outstretched and phone cameras on. The motorcade drove straight into the hotel's parking lot.Taiwan Foreign Minister Joseph Wu welcomes U.S. House of Representatives Speaker Nancy Pelosi at Taipei Songshan Airport in Taipei, Taiwan August 2, 2022. Taiwan Ministry of Foreign Affairs/Handout via REUTERS On Tuesday night, Taiwan's tallest building, Taipei 101, lit up with messages including: "Welcome to Taiwan", "Speaker Pelosi" and "Taiwan (heart) USA".WHITE HOUSE REACTSWhite House national security spokesman John Kirby said after Pelosi's arrival that the United States "is not going to be intimidated" by China's threats or bellicose rhetoric and that there is no reason her visit should precipitate a crisis or conflict."We will continue to support Taiwan, defend a free and open Indo-Pacific and seek to maintain communication with Beijing," Kirby told a later White House briefing, adding that the United States "will not engage in sabre-rattling."Kirby said China might engage in "economic coercion" toward Taiwan, adding that the impact on American-Chinese relations will depend on Beijing's actions in the coming days and weeks.Pelosi, 82, is a close ally of U.S. President Joe Biden, both being members of the Democratic Party, and has helped guide his legislative agenda through Congress.Four sources said Pelosi is also scheduled on Wednesday to meet activists outspoken about China's human rights record.The United States has no official diplomatic relations with Taiwan but is bound by American law to provide it with the means to defend itself. China views visits by U.S. officials to Taiwan as sending an encouraging signal to the pro-independence camp on the island. Taiwan rejects China's sovereignty claims, saying only the Taiwanese people can decide the island's future.Several Chinese warplanes flew close to the median line dividing the Taiwan Strait on Tuesday morning before leaving later in the day, a source told Reuters. Several Chinese warships also sailed near the unofficial dividing line since Monday and remained there, the source said.Taiwan's defence ministry said 21 Chinese aircraft entered its air defence identification zone on Tuesday, and that China was attempting to threaten key ports and cities with drills around the island. Taiwan's armed forces have "reinforced" their alertness level, it added.Taylor Fravel, a Massachusetts Institute of Technology expert on China's military, said China's planned exercises appear as though they may be greater in scope than during a Taiwan Strait crisis in 1995 and 1996."Taiwan will face military exercises and missile tests from its north, south, east and west. This is unprecedented," Fravel said.Four U.S. warships, including the aircraft carrier USS Ronald Reagan, were positioned in waters east of Taiwan on what the U.S. Navy called routine deployments.Russia, locked in confrontation with the West over its Ukraine invasion, condemned Pelosi's visit. Foreign ministry spokeswoman Maria Zakharova called the United States "a state provocateur."Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee and Sarah Wu, and Fabian Hamacher in Taipei, Yew Lun Tian and Ryan Woo in Beijing, Brenda Goh in Shanghai, and Nandita Bose and Patricia Zengerle in Washington; Writing by Tony Munroe and Michael Martina; Editing by Will Dunham, Angus MacSwan and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

Pelosi arrives in Taiwan vowing U.S. commitment; China enraged.

Taiwan Foreign Minister Joseph Wu welcomes U.S. House of Representatives Speaker Nancy Pelosi at Taipei Songshan Airport in Taipei, Taiwan August 2, 2022. Taiwan Ministry of Foreign Affairs/Handout via REUTERS Register now for FREE unlimited access to Reuters.comSEOUL, Aug 3 (Reuters) - North Korea's foreign ministry on Wednesday criticised what it called U.S. "imprudent interference" in China's internal affairs over House of Representatives Speaker Nancy Pelosi's visit to Taiwan, the official KCNA said.Pelosi arrived in Taiwan late on Tuesday on a trip she said shows an unwavering American commitment to the Chinese-claimed self-ruled island, but China condemned the highest-level U.S. visit in 25 years as a threat to peace and stability in the Taiwan Strait. read more A North Korean foreign ministry spokesperson said they "vehemently denounce" any external force's interference in the issue of Taiwan and "fully support" China, its major ally and economic lifeline."It is the due right of a sovereign state to take counter measures against the moves of the outside forces openly interfering in its internal affairs and destroying its territorial integrity," the unidentified official was quoted by KCNA as saying.China considers Taiwan part of its territory and has never renounced using force to bring it under its control. The United States warned China against using the visit as a pretext for military action against Taiwan.Register now for FREE unlimited access to Reuters.comReporting by Soo-hyang Choi; Editing by Chris Reese and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

North Korea denounces U.S. 'interference' over Pelosi's Taiwan visit.

Brendan McDermid | ReutersDow Jones Industrial Average futures were higher on Tuesday evening after the three major averages fell for a second consecutive day.Futures tied to the Dow added 64 points, or 0.2%. S&P 500 futures gained 0.1% and Nasdaq 100 futures were flat.In regular hours trading, House Speaker Nancy Pelosi's controversial visit to Taiwan weighed on investors, who worried it would further strain already tense U.S.-China relations. China had spent weeks warning her not to make the trip. Markets fell further after three Federal Reserve presidents hinted that further rate hikes would be necessary to combat high inflation."Despite the fact most of today's attention is still riveted on the Federal Reserve and its ongoing fight to bring inflation under control, many economic policies have already embarked on a new easing cycle," said the Leuthold Group's Jim Paulsen. "The prospect of lower inflation is not only helping to usher in a new easing cycle but is apt to stoke a private-sector confidence revival that has untapped potential."Traders are also anticipating another batch of second quarter earnings. CVS, Regeneron, Under Armour and Moderna will report before the bell Wednesday.In economic data, investors this week are awaiting mortgage demand numbers and PMI data out Wednesday.

Dow futures gain slightly after the three major averages notched a second day of losses.

The Covid-19 pandemic resulted in an increase in people looking for love on dating platforms such as Match Group's Tinder app.Beata Zawrzel | NurPhoto | Getty ImagesMatch Group shares tumbled 22% in extended trading on Tuesday after the dating site reported second-quarter revenue that missed analyst expectations and issued weaker-than-expected guidance.Here's how the company did.Revenue: $795 million vs. estimate of $804 million, according to RefinitivEarnings: 52 cents per shareMatch, whose properties include Tinder, OkCupid and Hinge, said revenue grew 12% from a year earlier.In addition to trailing estimates for the second quarter, Match also gave a forecast for the third quarter of $790 to $800 million, which would result in no growth for the period and is well below analysts' estimates. The company said its forecast includes a hit from foreign exchange rates.Match said it saw weakness in its live streaming business and in Japan, which "has yet to show meaningful recovery following the lifting of Covid restrictions," according to the shareholder letter.The company also said that in the second half of 2021, its business benefited from the availability of Covid-19 vaccines and increased social activity."We are not seeing a similar surge of activity in 2022," the company said.The number of paid users increased 10% to 16.4 million, and revenue per payer rose 3% to $15.86.Revenue at Tinder grew 13%. A litigation settlement related to Tinder led to a $441 million payment and negative free cash flow of $7 million.Match's stock price is down 42% of its value year to date, prior to the after-hours slump.WATCH: Time to swipe right on dating app stocks?

Match shares plunge more than 20% after online dating company misses on revenue and forecast.

Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - The United States sued Idaho on Tuesday to block a state law that it said imposes a "near-absolute ban" on abortion, marking its first legal challenge to state abortion laws since the Supreme Court in June overturned the landmark 1973 Roe v. Wade ruling.The lawsuit, filed in a federal court in Idaho, says the state's abortion ban violates the Emergency Medical Treatment and Labor Act, a federal law that compels hospitals receiving federal funds to provide emergency medical care.It seeks a preliminary and permanent injunction against the state law. It also asks a court to bar Idaho from criminalizing doctors or stripping them of their medical licenses if they perform an emergency abortion.Register now for FREE unlimited access to Reuters.com"Today, the Justice Department's message is clear... if a patient comes into the emergency room with a medical emergency jeopardizing the patient's life or health, the hospital must provide the treatment necessary to stabilize that patient," U.S. Attorney General Merrick Garland said at a news conference in Washington announcing the filing."This includes abortion, when that is the necessary treatment," Garland added.In a statement on Twitter, Idaho Republican Governor Brad Little accused the Justice Department of interfering with state sovereignty and called it "another example of (President Joe) Biden overreaching yet again.""Here in Idaho, we are proud that we have led the country in protecting preborn lives," he said.The Idaho State Capitol building is seen in Boise, Idaho, U.S., October 29, 2021. REUTERS/Shannon StapletonThe lawsuit comes just one day before the Idaho Supreme Court is due to hear arguments on the legality of the Idaho state law, which is due to take effect on Aug. 25.The law would make it a felony to perform an abortion in most circumstances, with limited exceptions.Associate Attorney General Vanita Gupta said at a press conference on Tuesday that the law "places the burden on physicians to prove at trial, following arrest and indictment, that they are not criminally liable."The Supreme Court's 6-3 ruling on June 24 to overturn Roe v. Wade, which gave women the constitutional right to abortion care, has sent legal shock waves across the country.About half of the 50 U.S. states have or are expected to seek to ban or curtail abortions. Those states include Idaho, which like 12 other states adopted "trigger" laws banning or restricting abortion upon such a decision. read more Idaho also separately in March became the first state to enact a six-week abortion ban modeled on a Texas law that empowers private citizens to sue abortion providers.In mid-July, the Justice Department announced it was starting a task force to monitor and evaluate state legislation and enforcement actions that threaten to "infringe on federal legal protections" related to reproductive healthcare.On Tuesday, Garland told reporters that the task force received many reports about women who are having trouble accessing reproductive healthcare. The department is evaluating them to determine if further litigation is necessary, he added.Register now for FREE unlimited access to Reuters.comReporting by Sarah N. Lynch and Doina Chiacu; Additional reporting by Nate Raymond in Boston; Editing by Jonathan Oatis and Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

Abortion ban in Idaho faces first U.S. legal challenge since Roe.

Nikola Motor CompanySource: Nikola Motor CompanyElectric truck maker Nikola has finally won shareholder approval to issue new stock, the company said on Tuesday. Nikola has been trying since June 1 to win enough votes to overcome the objection of its since-departed founder, who previously voted his 20% interest in Nikola against the proposal.In a webcast on Tuesday, CEO Mark Russell said the measure had finally passed, though the company didn't immediately disclose the margin.Nikola has been seeking to raise additional money by issuing new stock, a process that required approval by owners of at least 50% of the company's outstanding shares.Its June 1 annual shareholders' meeting was adjourned after Nikola's founder and former CEO and chairman, Trevor Milton, voted against the proposal. The meeting briefly resumed on June 30, and again on July 18, only to be adjourned again on both occasions as the total votes in favor fell short of the needed threshold.Milton, who founded Nikola in 2014, left the company in September 2020 following allegations of fraud. He remains the company's largest shareholder. Milton owns about 11% of Nikola's stock outright and controls another 9% via an investment vehicle that he co-owns, giving him effective control of about 90 million shares of Nikola's stock.Milton was indicted by a federal grand jury on four counts of fraud related to representations he made to potential Nikola investors. His trial is scheduled to begin in September. Milton has denied the allegations.Nikola said on Monday that it has agreed to acquire battery-pack supplier Romeo Power in a $144 million all-stock transaction that won't require it to issue new shares. The truck maker is expected to report its second-quarter results — and its plans for the additional shares — before the U.S. markets open on Thursday.

Nikola shareholders approve measure to issue new stock over ex-CEO Trevor Milton's objection.

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 7, 2022. REUTERS/Brendan McDermidRegister now for FREE unlimited access to Reuters.comNEW YORK, Aug 2 (Reuters) - U.S. companies are reporting mostly upbeat news this earnings season, surprising investors who had been bracing for a gloomier outlook on both businesses and the economy.More than halfway into the second-quarter reporting period, S&P 500 company earnings are estimated to have increased 8.1% over the year-ago quarter, compared with a 5.6% estimate at the start of July, according to IBES data from Refinitiv as of Tuesday.Some 78% of earnings reports are beating Wall Street expectations, above the long-term average.Register now for FREE unlimited access to Reuters.comProfit growth estimates for the third and fourth quarters have come down, but remain sharply positive. S&P 500 earnings for all of 2022 are now forecast to grow 8.1% versus a 9.5% estimated in July, based on Refinitiv data.Investors had been worried that if high inflation and rising interest rates were about to tip the economy into recession, earnings estimates for 2022 were too high.Raising the risk that the economy was on the cusp of a recession, the U.S. Commerce Department said last week the American economy unexpectedly contracted in the second quarter - the second straight quarterly decline in gross domestic product. read more Concerns over a possible recession had driven a sharp selloff in stocks in the first half of the year. But the S&P 500 (.SPX) and Nasdaq (.IXIC) ended July with their biggest monthly percentage gains since 2020, partly because of stronger-than-expected earnings."The consensus view (was) that earnings were going to just fall apart," said Jonathan Golub, chief U.S. equity strategist & head of quantitative research at Credit Suisse Securities. "And it just didn't play out that way."Company reports are showing that demand remains robust and sales are holding up, he said."If you want to say, what's the health of the economy, it's measured in sales," Golub said.Year-over-year revenue for S&P 500 companies in the quarter is expected to have risen 12.5% as of Tuesday, compared with 10.4% estimated at the start of July, based on Refinitiv data.Upbeat forecasts from heavyweights Apple and Amazon.com (AMZN.O) boosted investors' mood late last week, while Chevron Corp (CVX.N) and Exxon Mobil (XOM.N) reported record quarterly revenues.Apple said parts shortages were easing and that demand for iPhones was continuing, while Amazon.com forecast a jump in third-quarter revenue."It's held up pretty well, particularly for large-cap names, but of course people were expecting the worst," said Rick Meckler, partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey.To be sure, the news has not been positive all around. Walmart (WMT.N)rattled investors early last week when it cut its full-year profit forecast, blaming surging prices for food and fuel. read more That's raised worried about the health of the consumer and prospects for other retailers, most of which have yet to report results on the last quarter.Also, analysts have been cutting their third-quarter earnings growth estimates by more than usual when compared with "either pre-pandemic or over the last two years," Nicholas Colas, co-founder of DataTrek Research, wrote in a note this week.Whether earnings forecasts hold up is key to valuations. The S&P 500's forward 12-month price-to-earnings ratio, at 17.5 as of Tuesday, is down from 22.1 at the end of December but still above the long-term average of about 16, Refinitiv data showed.Other strategists said the season is following a normal pattern: Companies often are more negative than positive with their outlooks, so earnings forecasts for upcoming quarters tend to go down typically during a reporting period."So far, what's happened isn't something that's worse than feared. And the market was already braced for bad news," said Keith Lerner, chief market strategist at Truist Advisory Services in Atlanta.Register now for FREE unlimited access to Reuters.comReporting by Caroline Valetkevitch; Editing by Alden Bentley and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

U.S. corporate profits, economic outlooks, surprisingly upbeat.

The company logo for lithium producer Livent Corp is displayed on a screen at the New York Stock Exchange (NYSE) during the company's IPO in New York, U.S., October 11, 2018. REUTERS/Brendan McDermidRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - General Motors Co (GM.N) is prepaying Livent Corp (LTHM.N) $198 million for a guaranteed six-year supply of lithium, a deal that reflects the auto industry's rising worry about a tightening market for the electric vehicle battery metal.Prepaying cash for a guaranteed metal supply is unusual in the mining industry. The deal shows GM's eagerness to ensure it has sufficient raw materials to meet its goal of producing 1 million EVs annually in North America by 2025.Both companies announced the broad brushstrokes of the deal last week, but Livent announced financial terms on Tuesday as it posted a better-than-expected profit and raised its forecast for the year.Register now for FREE unlimited access to Reuters.com"GM is certainly thinking for the long term here," Paul Graves, Livent's chief executive, told investors on a Tuesday conference call. "By making the advanced payment, they are clearly giving us the commitment that we were looking for."Graves has long prodded automakers to work closer with lithium producers. In an interview with Reuters last fall, Graves warned that unless the auto industry signed long-term deals, "there may be periods where there is just insufficient lithium."Livent produces lithium in Argentina and has processing facilities in the United States.Livent, which also supplies BMW(BMWG.DE),expects to receive the GM prepayment later this year. The company is set to start supplying GM in 2025 at a contractual price per tonne, though neither company disclosed volume.Philadelphia-based Livent reported second-quarter net income of $60 million, or 31 cents per share, compared with $6.5 million, or 4 cents per share, a year ago.Excluding one-time items, Livent earned 37 cents per share. By that measure, analysts expected earnings of 29 cents per share, according to IBES data from Refinitiv.Livent said expansion of its Argentina site is on schedule. The company's stock rose slightly in after-hours trading.Register now for FREE unlimited access to Reuters.comReporting by Ernest Scheyder; editing by Jonathan Oatis, Bill Berkrot and David GregorioOur Standards: The Thomson Reuters Trust Principles.Ernest ScheyderThomson ReutersCovers the future of energy and transportation including electric vehicle and battery technology, with a focus on lithium, copper, cobalt, rare earths and other minerals, politics, policy, etc. Previously covered the oil and natural gas, including a stint living in North Dakota’s Bakken shale oil patch.

GM prepaying Livent $198 million for guaranteed lithium supply.

Michigan Governor Gretchen Whitmer speaks during the Motor Bella 2021 auto show in Pontiac, Michigan, U.S., September 21, 2021. REUTERS/Rebecca CookRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - Michigan Governor Gretchen Whitmer said the state is well positioned to attract new investment in semiconductor chips manufacturing after Congress passed $52 billion in new subsidies."The state of Michigan is uniquely positioned," Whitmer told Reuters in an interview. "We want to make sure that our potential partners in this chips manufacturing moment are ready to move as fast as we are because we are going to have to move together."President Joe Biden is expected to sign the "Chips and Science" act early next week. The bill provides about $52 billion in government subsidies for U.S. semiconductor production and an investment tax credit for chip plants estimated to be worth $24 billion.Register now for FREE unlimited access to Reuters.comBiden on Tuesday will virtually join an event in Michigan to mark Whitmer’s signing of an Executive Directive to position the state to compete for chips manufacturing funding.The Detroit Three automakers have been especially hard hit by the chips shortage and often forced to halt production because of a lack of chips over the last two years.Last week, General Motors Co (GM.N) said it had more than 90,000 unfinished vehicles, mostly trucks and SUVs, waiting for chips and other parts, while Ford said last week it had 18,000 vehicles awaiting chips.There are currently tens of thousands of otherwise completed vehicles parked in southeast Michigan awaiting chips so they can be delivered.Congress last week approved sweeping legislation to subsidize the domestic semiconductor industry, hoping to boost companies as they compete with China and alleviate a persistent shortage that has affected everything from cars and weapons to washing machines and video games."I think that we'll see companies starting to make decisions," Whitmer said, adding that Michigan "has a lot of built in strengths including built in customers" and a skilled engineering workforce.Senator Mark Warner said last week the bill would help fund 10 to 15 new semiconductor factories. "If we had not done this, there would not be another American semiconductor manufacturing plant ever built in this country," Warner said.Register now for FREE unlimited access to Reuters.comReporting by David Shepardson; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

Michigan working to attract chip manufacturers under new U.S. bill -governor.

Entertainment Updated on: August 2, 2022 / 6:17 PM / CBS News Demi Lovato announces they are nonbinary Singer Demi Lovato announces they are nonbinary 00:44 Last year, Demi Lovato announced that they were nonbinary and would like to be referred to as they/them. They stated that the label non-binary, "best represents the fluidity I feel in my gender expression, and allows me to feel most authentic and true to the person I both know I am and still am discovering." In an interview released Monday on the Spout podcast, Lovato revealed that they readopted the pronouns she/her.  "So for me, I'm such a fluid person that I don't really ... I felt like, especially last year, my energy was balanced, and my masculine and feminine energy, so that when I was faced with the choice of walking into a bathroom, and it said, 'women' and 'men,' I didn't feel like there was a bathroom for me, because I didn't feel necessarily like a woman," the singer shared. "I didn't feel like a man. I just felt like a human. And that's what they/them is, is about for me, it's just about, like, feeling human at your core."  Earlier this year, Demi updated her pronouns on Instagram to they/them/she/her, though she identifies as non-binary. In the podcast, Lovato said: "Recently I've been feeling more feminine, and so I've adopted she/her again. But I think what's important is, like, nobody's perfect. Everyone messes up pronouns at some point, and especially when people are learning, it's just all about respect." In July 2021, Lovato tweeted about being misgendered."If you misgender me, that's okay. I accidentally misgender myself sometimes! It's a huge transition to change the pronouns I've used for myself my entire life. And it's difficult to remember sometimes!" she tweeted. I felt the need to post this because I often find that the change in pronouns can be confusing for some, and difficult to remember for others. It’s all about your intention. It’s important to me that you try, but if you make a mistake, it’s okay 😊🙏🏼💞 pic.twitter.com/nd37qvMGqk— Demi Lovato (@ddlovato) July 13, 2021 "As long as you keep trying to respect my truth and as long as I remember my truth, the shift will come naturally," Lovato added. "I'm just grateful for your effort in trying to remember what means so much to my healing process." In: Demi Lovato LGBTQ+ Jaz Garner Jaz Garner is a producer, culture writer and journalist for CBS News. Twitter Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Pop star Demi Lovato adds "she/her" to preferred pronouns again.

A U.S. Army Terminal High Altitude Area Defense (THAAD) weapon system is seen on Andersen Air Force Base, Guam, October 26, 2017. U.S. Army/Capt. Adan Cazarez/Handout via REUTERS/FilesRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - The U.S. State Department approved the potential sale of Terminal High Altitude Area Defense (THAAD) missile interceptors to the United Arab Emirates and Patriot missile interceptors to Saudi Arabia in separate deals worth as much as $5.3 billion, the Pentagon said on Tuesday.The potential deals, which would resupply key missile defense systems for the two countries, came just weeks after President Joe Biden's July trip to the region. Biden had hoped to reach an oil production deal to lower gasoline prices as inflation hits 40-year highs and threatens his approval ratings. read more Despite approval by the State Department, notification to the U.S. Congress of the deals does not indicate that a contract has been signed or that negotiations have concluded. The procedural step of notifying Congress is often the first public acknowledgment that a deal is in the works.Register now for FREE unlimited access to Reuters.comThe U.S. State Department approved the potential sale of 300 MIM-104E Guidance Enhanced Missile-Tactical Ballistic Missiles (GEM-T) for the Patriot missile defense system as well as support equipment, spares and technical support to the Kingdom of Saudi Arabia, the Pentagon said.The Pentagon said Raytheon Technologies (RTX.N) was the prime contractor for the Patriot interceptors and equipment, which could be worth as much as $3.05 billion.Separately the State Department approved the potential sale of 96 THAAD missile defense system interceptors and support equipment to the United Arab Emirates along with spares and technical support, the Pentagon said.The Pentagon said Lockheed Martin (LMT.N) was the prime contractor for the THAAD interceptors and equipment, which could be worth $2.25 billion.The Biden administration has had a policy of not selling offensive weapons to Saudi Arabia, though it is weighing rolling that back. read more Register now for FREE unlimited access to Reuters.comReporting by Mike Stone in Washington and Ismail Shakil in Ottawa; editing by Jonathan Oatis and Josie KaoOur Standards: The Thomson Reuters Trust Principles.

U.S. to resupply Saudi and UAE missile defense systems.

MoneyWatch August 2, 2022 / 5:39 PM / MoneyWatch Equifax this spring sent out incorrect credit scores for millions of customers applying for home and auto loans, the Wall Street Journal reported on Tuesday. As one of three major credit-reporting companies in the U,S., Equifax provides financial information and scores for consumers, affecting whether people are approved for products incuding mortgages, credit cards and car loans, and what interest rate they pay. Most credit ratings range from 300 to 850, with higher-scoring consumers getting more favorable terms. The Journal reported that millions of Americans were affected by Equifax's error, with some scores changing by as much as 20 points in either direction — enough for some prospective borrowers to be rejected for a loan. According to the paper, a small number of people went from having no credit score to having a score in the 700s, or vice-versa. The incorrect scores were sent to Ally Financial, JPMorgan Change and Wells Fargo, among other lenders, the Journal reported, citing unnamed sources. Coding problemIn a statement on its website, Equifax said it fixed the error, which it referred to as a "coding issue.""We know that businesses and consumers depend on our data and Equifax takes this technology coding issue very seriously. We can confirm that the issue has been fixed and that we've been working closely with our customers on analysis to best meet the needs of consumers," the company said. Equifax also said that underlying credit report information did not change. "[T]here was no shift in the vast majority of scores during the three-week timeframe of the issue," the company said. "For those consumers that did experience a score shift, initial analysis indicates that only a small number of them may have received a different credit decision."The news was previously reported by National Mortgage Professional, a trade publication, in May. Equifax CEO Mark Begor acknowledged the error at a financial conference in June. "We had a coding issue that was a mistake made by our technology team in one of our legacy applications that resulted in some scores going out that had incorrect data in it. And we fixed the issue," he told attendees, according to a transcript of the event.Begor added that the company was working with affected consumers, noting, "We think the impact is going to be quite small, not something that's meaningful to Equifax." Equifax was previously implicated in a 2017 data breach that exposed sensitive information of nearly 150 million Americans and resulted in the ouster of the company's then-CEO. Equifax paid $700 million in fines and restitution after the breach. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Equifax issued wrong credit scores for "millions" of customers, report says.

CNBC's Jim Cramer on Tuesday said that inflation is coming down at a good pace and called out Federal Reserve leaders for hawkish comments that are dragging down the market."While we hear Fed officials and hedge fund managers and strategists opine about how the Federal Reserve will have to double the federal funds rate to stop runaway inflation, ask yourself which commodities, which goods they're actually talking about," the "Mad Money" host said.Chicago Fed President Charles Evans said Tuesday that he hopes for smaller interest rate increases going forward, starting with a half-percentage-point raise in September followed by quarter-percentage-point hikes until the start of the second quarter next year.In contrast, San Francisco Fed President Mary Daly said that the Fed is "nowhere near almost done" with interest rate increases and Cleveland Fed President Loretta Mester warned that the central bank is not in a position to relax its inflation policy just yet. Cramer pointed to falling prices in commodities including lumber, copper and aluminum to illustrate his point. He acknowledged that oil is still high, but reminded investors that gas prices have come down at the pumps. Job openings fell in June to their lowest level since September 2021, suggesting the market is beginning to slow. In addition, inventory gluts at stores like Walmart mean there'll be cheaper prices for goods on shelves, he added."I don't know how far prices have to fall before these people notice," Cramer said.

Cramer says Fed officials' aggressive inflation statements on Tuesday are dragging down market.

Crime August 2, 2022 / 6:12 PM / CBS News Masih Alinejad on women's issues in Iran Masih Alinejad on "being a product of the Iranian Revolution" and the treatment of women in Iran 01:40 Prominent Iranian-American journalist and activist Masih Alinejad lambasted her former home country just days after a man with an AK-47-style assault rifle was arrested near her home in Brooklyn. Alinejad, who fled Iran in 2009 following the presidential election and crackdown, believes the government was trying to assassinate her. "I'm not scared [for] my life at all because I know what I'm doing," she told CNN. "I have only one life, and I dedicated my life to give voice to Iranian people inside Iran who bravely go to the streets — face guns and bullets to protest against Iranian regime — but this is happening in America."During the interview, she said she believes the man was tied to the Iranian government because she has no other enemies. Alinejad told the regime to "go to hell." Journalist and author Masih Alinejad speaks onstage during the WICT Leadership Conference at New York Marriott Marquis Hotel on October 16, 2018, in New York City. Larry Busacca/Getty Images for Women in Cable Telecommunications According to a criminal complaint filed in federal court Friday, law enforcement said they had seen Khalid Mehdiyev, 23, outside of a Brooklyn home over a period of two days. He was acting suspiciously, according to authorities — he exited and got back into his car several times, attempted to look into the home's windows, and, at one point, allegedly tried to open the door.  That same day, police pulled Mehdiyev over a block away from the home for failing to stop at a stop sign, according to the complaint. He was subsequently arrested for driving without a license.After taking him to a nearby precinct house, police found a loaded AK-47 with an "obliterated" serial number in his car, along with "a separate second magazine, and a total of approximately 66 rounds of ammunition." During a search of the suspect's car following his arrest, federal prosecutors say NYPD found a suitcase containing a Norinco AK-47-style assault rifle.  Southern District of New York Although the complaint made no mention of Alinejad, she says authorities notified her of the incident, and Mehdiyev's arrest, last week, CBS New York reports. "I was shocked that when I saw the picture of the gun, I was like, 'Wait a minute, this gun is being used right now in Ukraine by Russian soldiers. This is Brooklyn. What did I do?'" Alinejad told CBS New York. Home surveillance video, which Alinejad shared on Twitter, captured a man pacing back and forth with a cellphone. Alinejad believes the man was there to kill her. "I don't know anything about the person, but I know the Islamic Republic. I know that my first enemy is the Islamic Republic," Alinejad said. "Imagine if the guy had opened fire. Who knows how many of my neighbors would have been killed?" These are the scary scenes capturing a man who tried to enter my house in New York with a loaded gun to kill me.Last year the FBI stopped the Islamic Republic from kidnapping me.My crime is giving voice to voiceless people. The US administration must be tough on terror. pic.twitter.com/XsxlFLSlOk— Masih Alinejad 🏳️ (@AlinejadMasih) July 31, 2022 According to the complaint, Mehdiyev admitted to police the assault weapon was his and that he had traveled from Yonkers to Brooklyn to look for someone. He then asked for a lawyer. Mehdiyev is facing multiple federal charges, including criminal possession of a machine gun, CBS New York reports. Last summer, Alinejad was also the target of an alleged kidnapping plot, where an Iranian intelligence officer and three alleged members of an Iranian intelligence network were charged. The government denied its role in the plot.Alinejad has long been an outspoken women's rights activist. She has launched "White Wednesday" and "My Stealthy Freedom" campaigns, where women film themselves without head coverings, or hijabs, in public in Iran, actions which are punishable by arrest or fines.In 2018, Alinejad spoke with CBS News about how women are treated in Iran, and why she boycotted wearing the traditional headscarf."What you have to understand is we are not fighting against a small piece of cloth," Alinejad said. "We are actually challenging the foundational block of the Islamic Republic of Iran."She told CBS New York she hopes incidents like this one lead the White House to keep a closer eye on the Iranian government."It is important that I see this man is behind the bar, but this is not only him," Alinejad said. "These ideas should be stopped by the American government. My crime is just giving voice to the voiceless people inside Iran." In: Iran New York City Michael Roppolo Michael Roppolo is a CBS News reporter. He covers a wide variety of topics, including science and technology, crime and justice, and disability rights. Twitter Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Journalist Masih Alinejad tells Iran to "go to hell" after man with weapon arrested near her N.Y.C. home.

Power lines are seen during a heatwave with expected temperatures of 102 F (39 C) in Dallas, Texas, U.S. June 12, 2022. REUTERS/Shelby Tauber/File PhotoRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - Record U.S. electricity consumption is driving near-record combustion of gas by power generators, ensuring gas inventories remain under pressure and prices remain high.In common with other parts of the U.S. economy, growth in gas production and the electricity supply has not kept pace with growth in demand after the pandemic, creating ongoing shortages.Net electricity generation between January and April amounted to 1,337 billion kilowatt-hours surpassing the previous seasonal records of 1,331 billion kWh in 2014 and before that 1,319 billion kWh in 2008.Register now for FREE unlimited access to Reuters.comGas-fired units accounted for 470 billion kWh in the first four months, their second-highest seasonal output after 500 billion kWh in 2020, according to data from the U.S. Energy Information Administration (EIA).Gas-fired generation is surging this year despite high fuel prices – in contrast to 2020 when the surge was driven by collapsing gas prices, which caused gas generators to run in preference to coal ones.There is not enough spare capacity in the generation system to reduce reliance on gas even as prices rise, especially since many coal units have been decommissioned.(Chartbook: https://tmsnrt.rs/3brXAsL)Natural gas prices actually paid by generators in the first four months of 2022 were more than double those in the corresponding period in 2020 (“Monthly energy review”, EIA, July 26).Gas generators accounted for 35% of all power output in the first four months, compared with 21% from coal, 19% from nuclear, 16% from wind and solar, and 7% from conventional hydro.One consequence is that gas-fired generators consumed 3,832 billion cubic feet of gas in the first four months of the year, second only to 4,083 bcf in 2020, and well above the pre-pandemic five-year average of 3,315 bcf.Gas generators are almost certain to have maintained a record or near-record output and gas consumption in May, June and July, given temperature trends across the Lower 48 states.Temperatures and air-conditioning demand have been persistently above average since May and gas-fired units remain the marginal suppliers to the electricity network ensuring heavy run rates.As a result, there has been a relentless squeeze on gas inventories, which have fallen below the pre-pandemic five-year seasonal average since late January, driven by a combination of higher generation and faster LNG exports.Working gas stocks currently sit 386 billion cubic feet (14%) below the pre-pandemic five-year seasonal average and show no sign of recovering.Gas and electricity shortages are likely to keep prices relatively high throughout winter 2022/23 – especially given ongoing LNG demand from Europe as the region tries to replace Russian gas.Related columns:- U.S. gas prices climb as stocks fail to rebuild fast enough (Reuters, July 29) read more - U.S. gas production must accelerate to meet LNG export demand (Reuters, June 1) read more - Drought adds to pressure on U.S. gas inventories (Reuters, May 27) read more - U.S. gas prices soar as Europe and Asia scramble for LNG (Reuters, May 6) read more John Kemp is a Reuters market analyst. The views expressed are his ownRegister now for FREE unlimited access to Reuters.comEditing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.John KempThomson ReutersJohn Kemp is a senior market analyst specializing in oil and energy systems. Before joining Reuters in 2008, he was a trading analyst at Sempra Commodities, now part of JPMorgan, and an economic analyst at Oxford Analytica. His interests include all aspects of energy technology, history, diplomacy, derivative markets, risk management, policy and transitions.

Column: U.S. power producers are consuming near-record volumes of gas.

Register now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Voters in Kansas will decide on Tuesday whether the state constitution should go on protecting abortion rights in a closely watched referendum that could lead to abortion access being curtailed or banned in America's heartland.The vote is the first statewide electoral test of abortion rights since the U.S. Supreme Court overturned Roe v. Wade, the landmark 1973 ruling that legalized abortion nationwide.Voters are being asked whether they want to amend the Kansas state constitution to assert there is no right to abortion. The amendment's passage, which requires a simple majority, would reverse a 2019 state Supreme Court ruling that established such a right in Kansas. read more Register now for FREE unlimited access to Reuters.comAs a result of the 2019 ruling, Kansas - a deeply conservative state that Republican Donald Trump won with 56% of the vote in the 2016 and 2020 presidential elections - has more lenient abortion policies than some of its red-state neighbors.Kansas allows abortion up to 22 weeks in pregnancy with several additional restrictions, including a mandatory 24-hour waiting period and mandatory parental consent for minors.Passage of the proposed constitutional amendment would enable the state's Republican-dominated legislature to regulate abortion much further. That could restrict abortion access across the central United States given patients travel to Kansas from Texas, Oklahoma and Missouri, where abortion is banned in almost all cases.Yard sign urges residents to vote on an amendment to Kansas' constitution that would assert there is no right to abortion, in Wichita, Kansas, U.S., July 11, 2022. REUTERS/Gabriella Borter/File PhotoA poll conducted July 17-18 by research group Co/efficient showed the vote could be close, with 47% of voters in favor of taking away the constitutional right to an abortion, 43% against it and 10% undecided.The ballot question has drawn national attention and money.The Value Them Both Association, which supports the amendment, raised about $4.7 million this year, with donations from regional Catholic dioceses amounting to more than $3 million, according to campaign finance reports released in July. Federal tax law prevents non-profits like churches from donating to political candidates but permits donations to broader causes.Kansans for Constitutional Freedom, the main coalition opposing the amendment, raised about $6.5 million in 2022, including donations adding up to more than $1 million from Planned Parenthood groups.Kansas holds its primary elections for governor and other down-ballot races on Tuesday. Republicans typically turn out in greater numbers for the state's primary elections than Democrats and independents, giving the proposed amendment a higher chance of passing, political analysts said.The amendment's fate could hinge on the turnout of the 29% of registered voters who are not affiliated with a political party, and young voters who may not like Democrats but want to protect abortion rights, according to Wichita State University political science professor Neal Allen.The ballot initiative is the first of several that will ask U.S. voters to weigh in on abortion rights this year. Kentucky, California, Vermont and possibly Michigan will have abortion on the ballot this fall.Register now for FREE unlimited access to Reuters.comReporting by Gabriella Borter in Washington Editing by Colleen Jenkins and Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

Abortion rights face voter test in Kansas after Roe v. Wade reversal.

U.S. Senator Joe Manchin (D-WV) speaks with reporters on Capitol Hill in Washington, U.S. August 2, 2022. REUTERS/Jonathan ErnstRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - Automakers want Democratic Senator Joe Manchin to revisit his proposal to restructure the $7,500 electric vehicle tax credit, raising fears it could be largely unworkable because of new sourcing requirements for battery components and critical minerals.Manchin on Tuesday expressed little interest in revising his proposal."Tell (automakers) to get aggressive and make sure that we're extracting in North America, we're processing in North America and we put a line on China," Manchin told reporters. "I don't believe that we should be building a transportation mode on the backs of foreign supply chains. I'm not going to do it."Register now for FREE unlimited access to Reuters.comManchin said the United States builds its own gasoline-powered vehicles and engines. "Now all of a sudden - now we can't?" the senator from West Virginia asked. "Come on."The proposal would lift the existing 200,000-vehicle cap on the $7,500 credit and impose new restrictions on automakers who have not yet hit that limit.The joint proposal from Manchin and Senate Democratic Leader Chuck Schumer would also create a new $4,000 tax credit for used EVs.Automakers say privately the percentage targets for critical minerals and battery components sourcing are too high and rise too quickly.Democratic Senator Debbie Stabenow of Michigan told Reuters on Tuesday: "It's a very cumbersome, unworkable credit once the full restrictions set in. There's conversations going on."She did note the bill includes billions of dollars in new loans and grants for auto and battery production and commercial vehicle credits.EV startup Rivian Automotive Inc (RIVN.O) said the EV tax credit proposal "will pull the rug out from consumers considering purchase of an American made electric vehicle" and added the "final package must extend the transition period."General Motors Co (GM.N) said on Friday that "some of the provisions are challenging and cannot be achieved overnight." The automaker added that it was "encouraged by the framework laid forth in the legislative text."Asked if automakers had submitted specific changes to Manchin, the head of auto trade group the Alliance for Automotive Innovation, John Bozzella, told Reuters. "we're having good conversations." He declined to elaborate.The bill includes rising requirements for the percentage of North American battery components by value and would disallow any batteries after 2023 with any Chinese components. Automakers including GM and Tesla Inc (TSLA.O) previously hit the cap and are no longer eligible for the existing EV tax credit.Republican Senator Marco Rubio said on Tuesday he will file an amendment seeking to ensure EV credits can apply only if the EV battery's critical minerals are sourced in the United States or from a country with which the United States has a free trade agreement.The new EV tax credits, which would expire at the end of 2032, would be limited to trucks, vans and SUVs with suggested retail prices of no more than $80,000 and to cars priced at no more than $55,000. They would be limited to families with adjusted gross incomes of up to $300,000 annually.President Joe Biden's target is for EVs to comprise half of all new vehicles sold in 2030.Register now for FREE unlimited access to Reuters.comReporting by David Shepardson in Washington Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Automakers press U.S. Senator Manchin for changes to EV tax credit proposal.

Taliban fighters drive a car on a street following the killing of Al Qaeda leader Ayman al-Zawahiri in a U.S. strike over the weekend, in Kabul, Afghanistan, August 2, 2022. REUTERS/Ali KharaRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - The killing of al Qaeda leader Ayman al-Zawahiri by the United States may prompt al Qaeda supporters to target U.S. facilities or citizens with the potential for more anti-American violence, the State Department warned on Tuesday."Following al-Zawahiri’s death, supporters of al- Qa’ida, or its affiliated terrorist organizations, may seek to attack U.S. facilities, personnel, or citizens," the State Department said in a Worldwide Caution Update. "The Department of State believes there is a higher potential for anti-American violence given the death of Ayman al-Zawahiri on July 31, 2022."Register now for FREE unlimited access to Reuters.comReporting by Caitlin Webber; writing by Costas Pitas; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Al Qaeda leader's killing risks greater anti-American violence, State Dept warns.

Crime August 2, 2022 / 6:15 PM / AP Parkland school shooter faces sentencing trial Sentencing trial of Parkland school shooter enters second week 05:21 A grieving father erupted in anger Tuesday as he told jurors about the daughter Florida school shooter Nikolas Cruz murdered along with 16 others four years ago, his voice rising as he recounted her "infectious laugh that I can only get to watch now on TikTok videos."Dr. Ilan Alhadeff's emotional testimony about his 14-year-old daughter Alyssa marked a second day of tears as families, one after another, took the witness stand to give heartrending statements about their loved ones who died at Parkland's Marjory Stoneman Douglas High School on Feb. 14, 2018.He and his wife, Lori, described Alyssa's role as captain of her soccer team, the friend others always turned to for advice or a shoulder to cry on, and her plans to become a business lawyer. He cried as he recounted how he will not dance with his daughter at her wedding or see the children she would have had. "My first-born daughter, daddy's girl was taken from me!" yelled Alhadeff, an internal medicine physician. "I get to watch my friends, my neighbors, colleagues spend time enjoying their daughters, enjoying all the normal milestones, taking in the normal joys and I only get to watch videos or go to the cemetery to see my daughter."He said one of Alyssa's two younger brothers was too young to comprehend her death when it happened, but now "asks to go see his sister at the cemetery from time to time." "This is not normal!" he said angrily. Lori Alhadeff looks towards her husband as Ilan Alhadeff speaks angrily while giving his victim impact statement during the penalty phase of the trial of Marjory Stoneman Douglas High School shooter Nikolas Cruz on August 2, 2022 at the Broward County Courthouse in Fort Lauderdale, Florida. The Alhadeff's daughter, Alyssa, was killed in the 2018 shootings. Amy Beth Bennett / Getty Images Cruz, 23, pleaded guilty to 17 counts of first-degree murder in October; the trial is only to determine whether he is sentenced to death or life without parole. Over the two days of family statements, he has shown little emotion, even as several of his attorneys wiped away tears and Circuit Judge Elizabeth Scherer's voice broke when she gave directions. He mostly stares straight ahead or looks down at the table where he sits.As one family testifies, others sob in the gallery while awaiting their turn. When finished, they stay to lend support. They exchange packets of tissues, shoulder rubs and, when breaks come, hugs. Some jurors wipe away tears, but most sit stoically. Some families had statements read for them. The mother of 14-year-old Martin Duque wrote that while he was born in Mexico, he wanted to become a U.S. Navy Seal. The wife of assistant football coach Aaron Feis wrote that he was a doting father to their young daughter and a mentor to many young people. The mother of 16-year-old Carmen Schentrup wrote that she was a straight-A student whose letter announcing she was a semifinalist for a National Merit Scholarship arrived the day after she died. She wanted to be a doctor who researched amyotrophic lateral sclerosis, commonly known as Lou Gehrig's disease.Shara Kaplan sobbed as she told the jurors of her two sons' sadness that they weren't there to protect their little sister, 18-year-old Meadow Pollack. Luke Hoyer's mom, Gina, said the 15-year-old was her "miracle baby," her "Lukey Bear." She said he yelled down that Valentine's Day morning to thank her for the card and Skittles she'd placed in his bathroom. The gifts stayed there for a year. His father, Tom, said he never saw his son that morning, but yelled up "Have a good day" as he hurried to work. "That is the kind of exchange you have when you think you have tomorrow," he said.Fred Guttenberg, who has become a national advocate for tighter gun laws, said he regrets that the last words he said to his 14-year-old daughter Jaime weren't "I love you" but instead, "You gotta go, you are going to be late" as he pushed her and her older brother out the door that morning. He said his son is angry with him for telling him to run when he called in a panic to say there was a gunman at the school instead of having him find his sister, even though it would have made no difference. His wife, Jennifer Guttenberg, said that while her daughter was known for her competitive dancing, she volunteered with the Humane Society and with special needs children. She planned to be a pediatric physical therapist. Fred Guttenberg, center left, and Michael Schulman are shown in the gallery during the penalty phase of the trial of Marjory Stoneman Douglas High School shooter Nikolas Cruz at the Broward County Courthouse in Fort Lauderdale, Florida, on Monday, August 1, 2022. Sun Sentinel Annika Dworet, her husband Mitch sitting somberly at her side, told the jurors about their son Nick, who was 17 when he died. A star swimmer, he had accepted a scholarship to the University of Indianapolis and was training in hopes of competing for his mother's native Sweden in the 2020 Olympics. His younger brother, Alex, was wounded in the shooting. "He was always inclusive of everyone. On his last evening with us, he spent time speaking to the younger kids on the swim team, giving them some pointers," she said. But now, she said, "our hearts will forever be broken.""We will always live with excruciating pain. We have an empty bedroom in our house. There is an empty chair at our dining table. Alex will never have a brother to talk or hang out with. They will never again go for a drive, blasting very loud music. We did not get to see Nick graduate from high school or college. We will never see him getting married."We will always hesitate before answering the question, 'How many kids do you have?'" In: Sports Homicide School Shooting Education Swimming Florida Trial Marjory Stoneman Douglas High School Crime Shootings Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Grieving father erupts at Parkland school shooter's trial.

A person in a mask walks past the United States Supreme Court Building in Washington, D.C., U.S., May 13, 2021. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comSummaryRace-conscious college admissions have helped grow the pipeline of minority lawyers, they sayBut lawyer diversity still lags(Reuters) - Legal educators, law student organizations, bar associations and law firms this week flooded the U.S. Supreme Court with amicus briefs asking it to uphold the use of affirmative action in college admissions, arguing it is key to diversifying the legal profession and addressing bias in the justice system.The American Bar Association, the National Black Law Students Association, The National Women’s Law Center and the National LGBTQ+ Bar Association are among the more than 15 legal industry groups that submitted briefs in a closely watched case that seeks to bar Harvard University and the University of North Carolina from considering race in undergraduate admissions.Racial diversity in law "can only be achieved if the private bar and the legal profession have a racially diverse pool of talent from which to recruit,” the 300-member Law Firm Antiracism Alliance wrote in its brief.Register now for FREE unlimited access to Reuters.comStudents for Fair Admissions — founded by anti-affirmative action activist Edward Blum — is appealing lower court rulings that upheld the programs used by the two prestigious universities to foster a diverse student population. The group claims the programs discriminate against Asian American applicants.The high court, with a 6-3 conservative majority, could end affirmative action with its decision in the case. Consovoy McCarthy partner William Consovoy, who is representing Students for Fair Admissions, did not respond to a request for comment on the legal groups' briefs Tuesday.Law firms and others in the legal industry have been vowing to increase their diversity for decades, with modest but steady gains over the years. Still, 86% of lawyers were white as of 2020, according to the ABA’s amicus brief — a significantly higher percentage than the overall U.S. population, which was 60% white.“The legal system has made significant progress over the last several decades, due in no small part to the increased diversity in the legal profession resulting from admissions policies that consider race as one of many factors,” the ABA’s brief said.Read more:U.S. Supreme Court to hear challenge to race-conscious college admissionsUniversity of North Carolina defeats challenge to race-based admissions policiesRegister now for FREE unlimited access to Reuters.comOur Standards: The Thomson Reuters Trust Principles.Karen SloanThomson ReutersKaren Sloan reports on law firms, law schools, and the business of law. Reach her at [email protected]

Legal industry groups ask U.S. Supreme Court to protect affirmative action.

Clouds hang above the Houses of Parliament in central London, Britain, June 24, 2017. BREUTERS/Marko Djurica/FilesRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Voting by Britain's Conservative Party members to pick the next prime minister has been delayed after the GCHQ spy agency warned that cyber hackers could change people’s ballots, The Telegraph reported on Tuesday.There was no specific threat from a hostile state, and the advice was more general and about the voting process and its vulnerabilities, report added.As a result of the concerns, the Conservative Party has been forced to abandon plans to allow members to change their vote for the next leader later in the contest, according to the Telegraph.Register now for FREE unlimited access to Reuters.comPostal ballots are also yet to be issued to the around 160,000 party members who have now been warned they could arrive as late as Aug. 11, the report added. The ballots were earlier due to be sent out from Monday, The Telegraph reported.Former Finance Minister Rishi Sunak and Foreign Secretary Liz Truss are competing in the leadership contest to succeed Boris Johnson as the next British prime minister.Truss leads in opinion polls among Conservative Party members, who will decide who becomes the next prime minister on Sept. 5 after weeks of voting.The Government Communications Headquarters (GCHQ) gathers communications from around the world to identify and disrupt threats to Britain. A spokesperson for the National Cyber Security Centre (NCSC), which is a part of the GCHQ, said that it provided advice to the Conservative Party."Defending UK democratic and electoral processes is a priority for the NCSC and we work closely with all Parliamentary political parties, local authorities and MPs to provide cyber security guidance and support," an NCSC spokesperson told Reuters.“As you would expect from the UK's national cyber security authority we provided advice to the Conservative Party on security considerations for online leadership voting,” the spokesperson added.Register now for FREE unlimited access to Reuters.comReporting by Shivam Patel in Bengaluru and James Pearson; Editing by Chris Reese and Alistair BellOur Standards: The Thomson Reuters Trust Principles.

Britain's Conservative Party voting for next PM delayed after hacking alert -The Telegraph.

Politics August 2, 2022 / 7:35 PM / CBS News What's at stake in Michigan primaries Voters head to the polls in Michigan primaries 05:26 Washington — The Michigan Republican Party canceled a watch party for the state's primary election results after a female staff member was verbally assaulted at the party's headquarters Tuesday morning, the state GOP said.Gustavo Portela, communications director for the Michigan GOP, said the state party received "several" death threats this week, but the warnings reached a tipping point the morning of the primaries when the party's headquarters in Lansing received threats from a bystander who, in addition to verbally assaulting the staff member, threatened to shoot up the building and burn it down."It's unfortunate that members of the opposite party would seize on this and joke about the situation, but this is the type of politics they play nowadays," Portela said in a statement. "Our party won't be deterred, and we will continue to work tirelessly for Republican policies despite on-going threats. No type of violence against women should ever be tolerated." The Michigan GOP filed a police report about the incident with the Lansing Police Department, it said.Portela told CBS News that the unidentified suspect had previously been outside the party's headquarters taking photographs. A "Unity Reception" for the state's gubernatorial candidates set for Wednesday is expected to proceed, though with additional security, he said. Michigan voters are heading to the polls Tuesday to decide the Republican who will take on Gov. Gretchen Whitmer, who is running unopposed in the Democratic primary, in November's general election. In the state's 3rd Congressional District, Rep. Peter Meijer, a Republican, is fighting to win his primary against John Gibbs after voting to impeach former President Donald Trump for incitement of the Jan. 6, 2021, insurrection. Gibbs served in the Trump administration within the Department of Housing and Urban Development.Aaron Navarro contributed to this report Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Michigan GOP nixes election night party after female staff member threatened, party says.

Employees walk past the logo of SK Hynix at its headquarters in Seongnam, South Korea, April 25, 2016. REUTERS/Kim Hong-JiRegister now for FREE unlimited access to Reuters.comSEOUL, Aug 3 (Reuters) - South Korea's SK Hynix Inc (000660.KS) has developed its most advanced NAND flash chip made up of 238 layers of memory cells for use in PC storage devices and later smartphones and servers, the world's second-largest memory chip maker said on Wednesday.SK Hynix described it as the "industry's highest" NAND flash chip and it follows U.S. rival Micron Technology Inc (MU.O) saying last week it had begun shipping a 232-layer NAND chip. read more SK Hynix said the new 238-layer chip is the smallest NAND flash chip in size, boasts a 50% improvement in data transfer speed over previous generation chips and power efficiency as well, as it cuts the volume of energy consumed for data reading by 21%.The company plans to start mass production of the chip in the first half of 2023.SK Hynix and Solidigm, the new name of Intel's NAND business which SK acquired, hold a combined 18% share of the NAND flash market, behind Samsung Electronics with 35.3% and Kioxia with 18.9%, according to first-quarter data from TrendForce.Register now for FREE unlimited access to Reuters.comReporting by Joyce Lee; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

SK Hynix says has developed its most advanced 238-layer storage chip.

Register now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Uber Technologies Inc (UBER.N) reported positive quarterly cash flow for the first time ever on Tuesday and forecast third-quarter operating profit above estimates, as more people rely on its services for transport and ordering in food.The company's stock surged 15% to $28.2 and helped push shares of Lyft Inc (LYFT.O) by 11% and DoorDash (DASH.N) by 4%.Uber generated free cash flow of $382 million in the second quarter, topping analysts' expectations of $263.2 million, as trips exceeded levels seen before the pandemic, boosted by office reopenings and a surge in travel demand.Register now for FREE unlimited access to Reuters.comThe company also added more drivers and delivery agents to its fleet in the quarter, taking their total number to an all-time high of about 5 million and allaying concerns that soaring gas prices were deterring them from signing up."We have a very strong flow of new drivers who are signing up, coming on to earn," Chief Executive Officer Dara Khosrowshahi said, adding that more than 70% of new drivers opted to join Uber to manage a hit from inflation and rising costs of living.At its delivery business, which includes Uber Eats, growth slowed from the prior quarter but the company expects ordering in to become a habit for consumers.A passenger walks near Uber signage after arriving at Los Angeles International Airport (LAX) in Los Angeles, California, U.S. July 10, 2022. REUTERS/David Swanson/File Photo Revenue from Uber's delivery segment rose 37% to $2.69 billion, while that of ride-share business surged 120% to $3.55 billion in the quarter ended June 30, both surpassing Wall Street expectations.Reuters Graphics"These results are particularly impressive given the growing list of macro and micro concerns weighing on Uber and Lyft," MKM Partners analyst Rohit Kulkarni said.Lyft is scheduled to report results on Thursday.Uber's net loss was $2.6 billion, largely hurt by investments in companies such as India's Zomato (ZOMT.NS). It is likely to sell its stake in the Indian food-delivery firm on Wednesday, a source told Reuters. read more Uber's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) were $364 million, surpassing estimates of $257.89 million, according to IBES data from Refinitiv.It now expects adjusted EBITDA of $440 million-$470 million, also above estimates of $383.95 million.Register now for FREE unlimited access to Reuters.comReporting by Nivedita Balu in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Uber turns cash flow positive for the first time in bumper quarter.

SINGAPORE — Futures in the Asia-Pacific pointed to a mixed open Wednesday after a negative session on Tuesday as geopolitical tensions between the U.S. and China intensified over U.S. House Speaker Nancy Pelosi's visit to Taiwan.The Nikkei futures contract in Chicago was at 27,745 while its counterpart in Osaka was at 27,720. That compared against the Nikkei 225's last close at 27,594.73.In Australia, SPI futures were at 6,896, below the S&P/ASX 200's last close at 6,998.1.Stock picks and investing trends from CNBC Pro:Pelosi arrived in Taiwan on Tuesday night local time amid warnings from Beijing. Taiwan is a democratic self-ruled island that China claims as a runaway province.Foreign Ministry spokesperson Hua Chunying tweeted that Pelosi's visit was a "major political provocation," while a spokesperson for the People's Liberation Army's Eastern Theatre Command said it would conduct "a series of joint military operations around the Taiwan Island from the evening of August 2."Those operations include long-range combat fire live shooting in the Taiwan Strait and conventional missile firepower test launching, the statement said, calling them "stern deterrence" and a grave warning.Ahead of the trip, stocks in Asia mostly dropped on Tuesday as investors watched for developments. The Shanghai Composite and Shenzhen Component were down more than 3% at session lows.In economic news, China's Caixin Services Purchasing Managers' Index data is due today.CurrenciesThe U.S. dollar index, which tracks the greenback against a basket of its peers, was at 106.241, after a recent climb.The Japanese yen traded at 133.39 per dollar, weaker compared to earlier in the week. The Australian dollar was at $0.691.

Asia-Pacific markets set to open mixed as investors monitor Pelosi's visit to Taiwan.

The PayPal app logo seen on a mobile phone in this illustration photo October 16, 2017. REUTERS/Thomas White/IllustrationRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - PayPal Holdings (PYPL.O) on Tuesday said activist investor Elliott Management has an over $2 billion stake in the fintech company and the firm raised its annual profit guidance.PayPal shares shot up nearly 12% after it also announced a slew of moves including appointing Blake Jorgensen as new chief financial officer and a $15 billion repurchase program.The fintech company has "an unmatched and industry-leading footprint across its payments businesses," said Jesse Cohn, a managing partner at Elliott, a day after the investment firm disclosed a similar stake in Pinterest Inc (PINS.N). read more Register now for FREE unlimited access to Reuters.comPayPal, which was among companies that won big during the pandemic, saw shares wipe out over 70% of their market value in a year as e-commerce growth retreated from pandemic-era records."Considering the stock's meaningful underperformance over the last nine months, this may be enough to satisfy investors, who have lost some measure of faith in management credibility after so many downward revisions," said Jason Benowitz, senior portfolio manager at Roosevelt Investments.PayPal also expects to reduce headcount to cut back costs and said it estimates annual revenue to grow at 11% on an FXN-basis, its lower end of previous guidance of ~11% and 13%."PayPal let an activist investor inside the tent with an information sharing agreement. We expect the company to materially refresh its top management layer and make tough choices to improve profit margins," said Benowitz.The company also announced a slew of moves including appointing Blake Jorgensen as Paypal's new chief financial officer and a new $15 billion repurchase program. Blake, who takes over the role on Wednesday, joins PayPal from Electronic Arts (EA.O).The company reported a lower adjusted profit of 93 cents per share for the three months ended June 30, that comfortably beat estimates of 86 cents a share.It raised its adjusted profit expectations to between $3.87 and $3.97 per share for the year, up from its previous forecast of $3.81 and $3.93.Register now for FREE unlimited access to Reuters.comReporting by Mehnaz Yasmin in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

PayPal shares jump on Elliott's $2 bln stake, annual profit guidance raise.

Register now for FREE unlimited access to Reuters.comSummaryCompaniesSpeaker Nancy Pelosi visits TaipeiCaterpillar falls after missing sales estimatesUber surges after reporting positive cash flowIndexes end: S&P 500 -0.66%, Nasdaq -0.16%, Dow -1.23%Aug 2 (Reuters) - Wall Street ended lower after a choppy session on Tuesday, with geopolitical tensions flaring after U.S. House of Representatives Speaker Nancy Pelosi visited Taiwan.Pelosi said her trip demonstrated American solidarity with the Chinese-claimed self-ruled island, but China condemned that first such visit in 25 years as a threat to peace and stability. read more Heavy hitters Microsoft (MSFT.O) and Visa (V.N)lost 1.1% and 2.4% respectively, weighing on the S&P 500. All 11 S&P 500 sector indexes lost ground, led lower by real estate (.SPLRCR), which lost 1.3%. Financials (.SPSY) dipped 1.1%.Register now for FREE unlimited access to Reuters.comShares of chipmakers heavily exposed to China were mixed. Advanced Micro Devices (AMD.O) rallied 2.6% ahead of its quarterly report after the bell.Industrial bellwether Caterpillar (CAT.N) tumbled 5.8% after warning of a bigger drop in demand for its excavators in property crisis-hit China, piling more pain on the industrial bellwether grappling with supply-chain disruptions.Financial markets have been roiled in recent months by the Ukraine war, soaring inflation and tightening financial conditions.U.S. job openings in June fell by the most in just over two years, as demand for workers eased in the retail and wholesale trade industries. Overall the labor market remained tight. read more Since the U.S. Federal Reserve raised interest rates by 75 basis points in July, investors have been speculating about whether the central bank's largest hikes are behind it."The market has to get really comfortable that they have fully baked in all the Fed's rate hikes, and I think that remains an open question," said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management in Seattle. "The challenges and supply constraints aren't necessarily done. They aren't done and gone yet."Shares of U.S. defense companies Raytheon Technologies Corp (RTX.N), Lockheed Martin Corp (LMT.N), Northrop Grumman Corp (NOC.N) and L3Harris Technologies Inc (LHX.N) rallied for much of the session, ending with gains between 0.5% and 2.3%. The United States is Taiwan's main supporter and arms supplier. read more Traders work on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 2, 2022. REUTERS/Andrew KellyThe S&P 500 declined 0.66% to end the session at 4,091.32 points.The Nasdaq declined 0.16% to 12,348.76 points, while Dow Jones Industrial Average declined 1.23% to 32,396.30 points.Volume on U.S. exchanges was relatively heavy, with 11.2 billion shares traded, compared to an average of 10.8 billion shares over the previous 20 sessions.The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, eased from the day's high of 24.68 points.A largely upbeat second-quarter reporting season has supported markets recently, with the benchmark S&P 500 index (.SPX) up about 12% from lows hit in mid-June.Uber Technologies Inc (UBER.N) jumped almost 19% after the ride-hailing firm reported positive quarterly cash flow for the first time ever and forecast upbeat third-quarter operating profit. read more The most traded stock in the S&P 500 was Tesla Inc , with $28.7 billion worth of shares exchanged during the session. Its shares rose 1.1% after Citigroup hiked its price target on the electric car maker.Pinterest Inc (PINS.N) surged over 11% after activist investor Elliott Investment Management became the largest shareholder of the digital pin-board firm. read more Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) by a 3.1-to-one ratio.The S&P 500 posted 2 new highs and 30 new lows; the Nasdaq recorded 40 new highs and 73 new lows.Register now for FREE unlimited access to Reuters.comReporting by Aniruddha Ghosh and Devik Jain in Bengaluru; Editing by Anil D'Silva, Arun Koyyur and David GregorioOur Standards: The Thomson Reuters Trust Principles.

S&P 500 ends see-saw session lower as Pelosi visits Taiwan.

Entertainment August 2, 2022 / 8:01 PM / CBS News Investigation continues into woman's fatal fall at Empower Field at Mile High 02:24 Country music star Kenny Chesney said he is "devastated" after an unidentified female fan fell and died just after the singer's show at Empower Field at Mile High in Denver on Saturday night. "There had been so much joy, so much heart coming from the people of Denver last night — and to hear this is heartbreaking," Chesney, 54, said in a statement to The Denver Post on Sunday. "Life is precious. Sharing music brings us together and that love we share makes us so much more. For the lady who came to share that love, there are no words. For her friends and family's loss, I grieve with them, and for them."The woman was sitting on an escalator railing when she fell to the concourse below and died as a result of her injuries, Denver police tweeted Sunday. They said the death was being investigated as accidental.Empower Field also released a statement about the incident on Twitter. "We extend our deepest sympathies to the loved ones of the woman involved in the tragic incident that occurred at the end of Saturday's concert at Empower Field at Mile High," the statement said.  It's the third death investigation at the stadium in the past eight years, according to CBS Colorado.  In 2015, a man fell from one level of the stadium to the one below while chasing a hat that had blown off in the wind, CBS Colorado reports. Police said they believed intoxication was a factor in the fatal incident.Then, a year later, father of five who was attending a Denver Broncos game fell down several stories of a stairwell. A lawsuit claimed the stairwell was not up to code. The suit was settled out of court, according to CBS Colorado. Chesney is on his annual summer concert tour, which this year ends on Aug. 27 with a show at Gillette Stadium in Foxboro, Massachusetts, according to his website. In: Colorado Denver Jaz Garner Jaz Garner is a producer, culture writer and journalist for CBS News. Twitter Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

"Devastated" Kenny Chesney offers condolences to the family of a woman who died at his Denver show.

Elon Musk's Twitter profile is seen on a smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comWILMINGTON, Del., Aug 2 (Reuters) - Twitter Inc (TWTR.N) is attempting to find evidence that Elon Musk tried to torpedo the financing of his $44 billion takeover deal for the social media company while also looking into his motivation for backing out of the deal, legal experts said.Twitter sent dozens of civil subpoenas this week to global banks such as units of Morgan Stanley (MS.N), co-investors in the deal including an affiliate of Brookfield Asset Management Inc (BAMa.TO), and Musk advisers, according to filings over the past two days in the Delaware Court of Chancery.Morgan Stanley declined to comment. Brookfield did not immediately respond to a request for comment. Representatives for Musk and Twitter could not be reached.Register now for FREE unlimited access to Reuters.comThe subpoenas seek documents and communications concerning the deal, its financing, any information on "bot," or fake, Twitter accounts. They also seek information that the recipients may have about potential impact on the deal from changes in the stock price of electric car maker Tesla Inc (TSLA.O), of which Musk is chief executive.The subpoenas are part of Twitter's lawsuit against Musk seeking to hold him to the deal at the $54.20 per share price he had agreed to. A five-day trial is scheduled to begin Oct. 17 in the Delaware Chancery Court.Experts said the subpoenas indicate Twitter wants to know what lenders, investors and advisers were saying to each other about Musk's behavior after he signed the deal in late April."They suspect that behind the scenes he's been conspiring to blow the whole thing up," said Minor Myers, a professor at UConn School of Law.Musk said on July 8 he was backing out of the deal because Twitter allegedly breached the agreement by withholding data about fake accounts on the platform. Twitter has said the fake accounts are a distraction from the only issue that matters, which is the terms of the agreement. Musk had also said he was walking away because Twitter fired high-ranking executives and one-third of the talent acquisition team, breaching Twitter's obligation to "preserve substantially intact the material components of its current business organization." read more Musk cannot be ordered to close the deal if financing fails -- provided he's not the cause of the failed funding, according to legal experts.Twitter's subpoenas focused on what they said was the firing of Bob Swan, an operating partner at venture capital firm Andreessen Horowitz, who initially led Musk's efforts to finalize deal finance. He was replaced by Antonio Gracias, a long-time Musk associate, according to Twitter's lawsuit.Brian Quinn, a professor at Boston College Law School, said Twitter seems to want to know if "Gracias had any role in getting financing done or if he was just supposed to slow things down."Swan did not immediately respond to messages sent via LinkedIn and to Andreeesen Horowitz. Gracias did not respond to a request for comment sent to his Valor Equity Partners firm.Experts said Twitter will be interested in understanding lenders' concerns about the number of fake accounts on the platform, and whether it was an issue for them as Musk has suggested.Investors were asked for communications about the Twitter deal with those close to Musk, such as Steve Jurvetson, a former Tesla board member and current director of SpaceX, the private rocket company founded and led by Musk.Jurvetson did not immediately respond to a request for comment sent to his Future Ventures firm."lol, lawyers w/ TWTR are sending subpoenas to friends in the ecosystem around @elonmusk," wrote Joe Lonsdale, a co-founder of Palantir Technologies Inc (PLTR.N), on Twitter. "I have nothing to do with this aside from a few snarky comments, but got a 'YOU ARE HEREBY COMMANDED' document notice," he wrote.He called Twitter's subpoenas a "giant harassing fishing expedition."Lonsdale did not immediately respond to a request for comment sent to his 8VC firm.Theodore Kittila, a Delaware corporate litigator, said Twitter is trying to determine what Musk was saying privately while publicly sending tweets that he was concerned about bots and fake accounts on Twitter."They are trying to climb in there, behind the tweets," said Kittila. "They are looking at emails and trying to divine the conversation that actually occurred and what drove his decision to suspend the deal."Musk has sent his own subpoenas over the past two days to Concentrix Solutions Corp (CNXC.O), a data analytics firm, and TaskUs USA (TASK.O), which moderates content. Musk's subpoena questions were filed under seal.Register now for FREE unlimited access to Reuters.comReporting by Tom Hals in Wilmington, Delaware; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.Tom HalsThomson ReutersAward-winning reporter covering U.S. courts and law from the COVID-19 pandemic to high-profile criminal trials and Wall Street's biggest failures with more than two decades of experience in international financial news in Asia and Europe.

Twitter queries banks on Musk's attempts to undermine $44 bln deal.

James BullardOlivia Michael | CNBCSt. Louis Federal Reserve President James Bullard said Tuesday that he still thinks the economy can avoid a recession, even though he expects the central bank will need to keep hiking rates to control inflation."I think that inflation has come in hotter than what I would have expected during the second quarter," the central bank official said during a speech in New York. "Now that that has happened, I think we're going to have to go a little bit higher than what I said before."The fed funds rate, which is the central bank's benchmark, likely will have to go to 3.75%-4% by the end of 2022, Bullard estimated. It currently sits at 2.25%-2.5% following four rate hikes this year. The rate sets the level banks charge each other for overnight lending but feeds through to many adjustable-rate consumer debt instruments.Nevertheless, Bullard said the Fed's credibility in its dedication to fight inflation will help it avoid tanking the economy.Bullard compared the Fed's current situation to the problems central banks faced in the 1970s and early '80s. Inflation is now running at the highest points since 1981.He expressed confidence that the Fed today will not have to drag the economy into a recession the way then-Chairman Paul Volcker did in the early 1980s."Modern central banks have more credibility than their counterparts in the 1970s," Bullard said during a speech in New York. "Because of this … the Fed and the [European Central Bank] may be able to disinflate in an orderly manner and achieve a relatively soft landing."Markets lately have been making the opposite bet, namely that a hawkish Fed will hike rates so much that an economy that already has endured consecutive quarters of negative GDP growth will fall into a recession. Government bond yields have been heading lower, and the spread between those yields has been compressing, generally a sign that investors are taking a dim view of future growth.In fact, futures pricing indicates that the Fed will have to follow its rate increases this year with cuts as soon as the summer of 2023.But Bullard argued that the ability for the Fed to steer the economy toward a soft landing rests largely on its credibility, specifically whether the financial markets and the public believe the Fed has the will to stop inflation. He differentiated that from the 1970s era when the Fed enacted rate hikes when faced with inflation but quickly backed off."That credibility didn't exist in the earlier era," he said. "We have a lot more credibility than we used to have."Bullard will appear Wednesday on CNBC's "Squawk Box" starting at 7:30 a.m. ET.

Fed's James Bullard expresses confidence that the economy can achieve a 'soft landing'.

U.S. Senate Majority Leader Chuck Schumer (D-NY) celebrates with activists after a breakthrough with Republicans to allow a vote on a bill to expand healthcare to veterans exposed to toxic burn pits while serving abroad, at the U.S. Capitol in Washington, U.S. August 2, 2022. REUTERS/Jonathan ErnstRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - A bill expanding healthcare coverage for veterans sickened by gases from military toxic burn pits passed the U.S. Senate on Tuesday night after unexpectedly getting held up by opposition from Republicans last week.The U.S. military used burn pits to dispose of waste on foreign bases until the mid-2010s. Fumes from burning everything from rubber, chemical waste, ammunitions and human feces have caused rare cancers and respiratory illnesses in veterans. read more The bill initially passed the 100-member Senate with the support of 34 Republicans and all 50 Democrats, but got held up by a technical error the House swiftly corrected.Register now for FREE unlimited access to Reuters.comThe Senate's final approval last week was expected to be a routine vote, but after Democrats announced a deal within their caucus on an unrelated climate and tax bill that would not require bipartisan support, a group of Republican senators abruptly changed their positions and voted against the corrected bill.Many saw the Republican senators' move, which took place just hours after the Democrats' announcement, as retribution for continuing negotiations on the climate and tax bill that most in Congress thought were dead.On Tuesday, Democratic Senator Chuck Schumer said he had reached a deal with Republican Senator Pat Toomey to hold a vote on an amendment that would change how money was allocated within the burn pits bill, clearing the way for a final vote on passage on Tuesday evening.Toomey's amendment was defeated before the Senate approved the legislation by a vote of 86-11.Veterans who have pushed for the bill have camped on the Capitol steps since Thursday evening when the bill last came to the floor. U.S. President Joe Biden called the veterans on Saturday and said he stood in solidarity with them, according to Rosie Torres, a veterans' advocate.Torres believes the Republican senators who changed their vote treated veterans like "political pawns.""It shouldn't be about politics," Torres said. "People are dying."Veterans and their advocates - including comedian Jon Stewart, an outspoken supporter of the bill - packed the galleries of the Senate chamber to watch the final vote on Tuesday night.Biden said in a statement he looks forward to signing the bill into law "so that veterans and their families and caregivers impacted by toxic exposures finally get the benefits and comprehensive health care they earned and deserve."Register now for FREE unlimited access to Reuters.comReporting by Moira Warburton, Rose Horowitch and Katharine Jackson; Editing by Chris Reese and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

After unexpected hurdles, military toxic burn pits bill passes U.S. Senate.

GXO Logistics customers are still doing well even as Wall Street fears that the economy is headed for a downturn, CEO Malcolm Wilson told CNBC's Jim Cramer on Tuesday."We just finished our quarter … nearly half a billion dollars of new customer contracts signed, and our business growing at 20% organic revenue. That's a real statement of the economy. I think we're doing well," Wilson said in an interview on "Mad Money."The supply chain management firm beat Wall Street expectations in its latest quarter reported after the closing bell on Tuesday. GXO saw adjusted earnings of 68 cents compared to an estimated 62 cents. Revenue came in at $2.16 billion dollars compared to an expected $2.11 billion.Wilson said that GXO's customers – who operate in industries such as automotive, e-commerce, technology and healthcare – aren't letting concerns about an economic slowdown halt their plans for the future."What we're seeing is our customers, big blue-chip international organizations, they're wanting to continue to invest for the future," he said, noting that the company has installed 90 new warehouses in the last 12 months."To me, that gives me a sense that they're optimistic for the future, and we're optimistic with them," he added.Sign up now for the CNBC Investing Club to follow Jim Cramer's every move in the market.DisclaimerQuestions for Cramer? Call Cramer: 1-800-743-CNBCWant to take a deep dive into Cramer's world? Hit him up! Mad Money Twitter - Jim Cramer Twitter - Facebook - InstagramQuestions, comments, suggestions for the "Mad Money" website? [email protected]

GXO Logistics customers are doing well despite economic slowdown buzz, CEO says.

get the free app Updated on: August 2, 2022 / 6:54 PM / CBS News CBS News Live CBS News Live Live Voters in five states are going to the polls on Tuesday in some of the states that were battlegrounds in 2020 — and will be again in 2024. And abortion faces its first test at the ballot box since the Supreme Court struck down Roe v. Wade, as Kansas voters decide whether abortion should be constitutionally protected.ArizonaIn Arizona, former President Donald Trump has rallied for his allies in the Senate, governor and secretary of state races. Arizona was one of the key battleground states that went for President Joe Biden in 2020. After the election, some Republicans in the state tried to overturn the results, with a plan to send a slate of phony alternate electors who supported Trump to Congress for the Electoral College certification, rather than the electors won by President Biden. In the Republican primary to take on Democratic Sen. Mark Kelly in November, Trump has backed Blake Masters, who has a comfortable lead according to two polls ahead of the primary. For governor, former TV news anchor Kari Lake and lawyer Karrin Taylor Robson are in a tight contest for the GOP nomination that repeats a dynamic between Trump and former Vice President MIke Pence. Trump has backed Lake, while Pence, along with term-limited sitting Republican Gov. Doug Ducey, have backed Taylor Robson. Last month, Trump and Pence held dueling rallies for Lake and Robson on the same day.  A where to vote sign points voters in the direction of the polling station as the sun beats down as Arizona voters go the polls to cast their ballots, Tuesday, Aug. 2, 2022, in Phoenix. Ross D. Franklin / AP Trump has also backed a challenger to state House Speaker Rusty Bowers, who testified in June at a House Jan. 6 committee public hearing. Bowers is term-limited out of that position but is running for state Senate. Days before the primary, the Arizona GOP voted to formally censure him for his testimony, a culmination of the frustrations many far-right members have with Bowers' past refusal to support Trump-backed attempts to overturn the 2020 election. This year, Bowers helped block a bill, introduced by Secretary of State candidate and current state Rep. Shawnna Bolick, to empower the legislature to choose its own electors, regardless of how the people voted. For his actions, the former president lashed out against him, calling the Speaker a "RINO coward," and endorsed his opponent, former state Sen. David Farnsworth.MissouriTrump issued a last-minute semi-endorsement in the Republican primary for the open Senate seat in Missouri. On Monday night, he threw his support behind "ERIC." There are two leading candidates in the race named Eric, Eric Schmitt and Eric Greitens. Both claimed they have Trump's endorsement. In Missouri's 1st Congressional District, incumbent Rep. Cori Bush, who unseated a longtime incumbent in 2020, is facing several challengers. The St. Louis Post-Dispatch endorsed both Bush and opponent Steve Roberts, writing that "too many deeply personal issues are likely to dominate voters' decisions in ways that wouldn't necessarily be swayed by an editorial endorsement."Meanwhile, three of the 10 House Republicans who voted to impeach Trump are facing Trump-backed primary challengers. Trump posted Tuesday on Truth Social to urge Republican voters to "knock out impeachment slime." MichiganIn Michigan, Rep. Peter Meijer, a freshman Republican in a swing district centered around Grand Rapids, Mich., is in a tough race against John Gibbs, a former Trump-era Housing and Urban Development official.WashingtonAnd in Washington, the top two vote-getters will advance to the general election regardless of party affiliation. Republican Rep. Jaime Herrera Beutler in the 3rd District and Dan Newhouse in the 4th District both face the risk of being shut out because of Trump-backed challengers. KansasFor the first time since the Supreme Court struck down Roe v. Wade, a state will vote whether abortion can be constitutionally protected. In 2019, the state Supreme Court ruled personal autonomy is protected in the state constitution's bill of rights and applied strict scrutiny to regulating abortion. An amendment would need to be passed to remove that constitutional right.Kansas voters are deciding whether to pass that amendment, which will remove that constitutional right, or against it, which would keep it in place.    6:54 PM / August 2, 2022 How to watch CBS News' election special What: CBS News' election special Date: Tuesday, August 2Time: 9 p.m. ETOnline stream: Live on CBS News in the player above and on your mobile or streaming device.   6:15 PM / August 2, 2022 U.S. Senate Arizona Republican primary Justin Olson, Mick McGuire, Mark Brnovich, Jim Lamon and Blake Masters are on the ballot.   6:13 PM / August 2, 2022 Arizona governor Republican primary Matt Salmon, Scott Neeley, Paola Tulliani-Zen, Karrin Taylor Robson and Kari Lake are on the ballot.    6:24 PM / August 2, 2022 Arizona state Senate Republican primary Rusty Bowers and David Farnsworth are on the ballot.   6:13 PM / August 2, 2022 Arizona Secretary of State Republican primary Shawnna Bollock, Michelle Ugenti-Rita, Beau Lane and Mark Finchem are on the ballot.   6:12 PM / August 2, 2022 Arizona Secretary of State Democratic primary Adrian Fontes and Reginald Bolding are on the ballot.    6:12 PM / August 2, 2022 Arizona 2nd Congressional District Republican primary Ron Watkins, Steven Krystofiak, Andy Yates, John Moore, Mark DeLuzio, Eli Crane and Walt Blackman are on the ballot.    6:11 PM / August 2, 2022 U.S. Senate Missouri Republican primary Dave Sims, Kevin Schepers, Deshon Porter, Robert Olson, Eric McElroy, Darrett McClanahan, Patrick Lewis, Rickey Joiner, Dennis Lee Chilton, Russel Breyfogle, Robert Allen, C.W. Gardner, Mark McCloskey, Dave Schatz, Billy Long, Vicky Hatzler, Eric Greitens and Eric Schmitt are on the ballot.    6:11 PM / August 2, 2022 U.S. Senate Missouri Democratic primary Dave Sims, Kevin Schepers, Deshon Porter, Robert Olson, Eric McElroy, Darrett McClanahan, Patrick Lewis, Rickey Joiner, Dennis Lee Chilton, Russel Breyfogle, Robert Allen, C.W. Gardner, Mark McCloskey, Dave Schatz, Billy Long, Vicky Hatzler, Eric Greitens and Eric Schmitt are on the ballot.    6:09 PM / August 2, 2022 Missouri 1st Congressional District Democratic primary Cori Bush, Michael Daniels, Earl Childress, Ron Harshaw and Steve Roberts on the ballot.   6:08 PM / August 2, 2022 Kansas constitutional amendment Yes/No   6:08 PM / August 2, 2022 Kansas Republican governor Arlyn Briggs and Derek Schmidt are on the ballot.    6:07 PM / August 2, 2022 Michigan Republican governor primary Ralph Rebandt, Ryan Kelley, Garrett Soldano, Kevin Rinke and Tudor Dixon are on the ballot.    6:06 PM / August 2, 2022 Michigan 3rd Congressional District Republican primary Peter Meijer and John Gibbs are on the ballot.    6:06 PM / August 2, 2022 Michigan 11th Congressional District Democratic primary Andy Levin and Haley Stevens are on the ballot.    6:04 PM / August 2, 2022 Washington 3rd Congressional District (top 2 vote-getters) Jaime Herrera Beutler, Davy Ray, Leslie French, Vicki Kraft, Heidi St. John, Marie Gluesenkamp Perez, Joe Kent, Chris Byrd, Oliver Black are on the ballot.    6:03 PM / August 2, 2022 Washington 4th Congressional District (top 2 vote-getters) Dan Newhouse, Jacek Kobiesa, Benancio Garcia, Corey Gibson, Jerrold Sessler, Brad Klippert, Doug White and Loren Culp are on the ballot.

Watch Live: 2022 midterm primary results in Arizona, Missouri, Kansas, Michigan and Washington.

People ride on motorbikes on a street in Sanaa, Yemen August 1, 2022. REUTERS/Khaled AbdullahRegister now for FREE unlimited access to Reuters.comADEN, Aug 2 (Reuters) - Yemen's warring sides agreed to renew a two-month truce expiring on Tuesday, the United Nations envoy said, despite international pressure for an extended and expanded deal that would build on the longest stretch of relative calm in over seven years."This truce extension includes a commitment from the parties to intensify negotiations to reach an expanded truce agreement as soon as possible," special envoy for Yemen Hans Grundberg said in a statement.Grundberg had been pushing for a six-month truce with additional measures, sources had told Reuters, but both sides have had grievances about implementation of the existing truce deal and mistrust runs deep. read more Register now for FREE unlimited access to Reuters.comU.S. and Omani officials had also been engaging with parties to back Grundberg's proposal following a visit by President Joe Biden to Saudi Arabia last month, where he announced following bilateral talks an agreement to "deepen and extend" the truce.Biden welcomed the renewal of the truce, but said in a statement that while it was an important step and essential to saving lives it "is not enough in the long run.""We urge the Yemeni parties to seize this opportunity to work constructively under U.N. auspices to reach an inclusive, comprehensive agreement that includes steps to improve freedom of movement and expanded salary payments and that paves the way for a durable, Yemeni-led resolution to the conflict," he said.Joe Buccino, spokesman for U.S. Central Command, which oversees U.S. military forces in the Middle East, welcomed the extension and said it would provide continued relief for millions of Yemenis.The conflict pitting a coalition led by Saudi Arabia against the Iran-aligned Houthis, de facto authorities in north Yemen, has killed tens of thousands and caused millions to go hungry.Riyadh has been trying to exit a costly war that has been a point of tension with the Biden administration, which halted support for offensive coalition operations. The conflict is widely seen as a proxy war between Saudi Arabia and Iran. read more The warring sides have both been frustrated over truce implementation. The Saudi-backed government blamed the Houthis for not reopening main roads in disputed Taiz, while the group accused the coalition of not delivering the agreed number of fuel ships into Hodeidah and flights from the capital Sanaa, both held by the group.Grundberg said he would intensify engagement with the parties in coming weeks to ensure full implementation.An expanded truce, he said, would offer a mechanism to pay public sector salaries, the opening of roads, expanded flights from Sanaa and regular flow of fuel to Hodeidah. The U.N. is also pushing for a permanent ceasefire to enable the resumption of talks for a sustainable political resolution.Sanaa resident Sufian al-Thawr said that without further measures to address economic woes and secure broader negotiations the truce would be "merely a warrior's break" and that hostilities would return.Since 2015, when the coalition intervened against the Houthis, Yemen's economy and basic services have collapsed, leaving 80% of the population of around 30 million needing help.Soaring food prices risk tipping more people into hunger as funding shortages have forced the U.N. to cut food rations. read more "We want a truce that improves our standard of living," said school teacher Elham Abdullah who lives in Aden, where the internationally recognized government is based after being ousted from Sanaa by the Houthis in late 2014.University student Tah Abdul-Kareem said more was needed but "still, it is better than a return to war."Register now for FREE unlimited access to Reuters.comReporting by Ghaida Ghantous in Dubai, Mohammed Alghobari and Reyam Mokhashef in Aden, Abdulrhman Al Ansi in Sanaa and Idrees Ali in Washington; Editing by Grant McCool and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Yemen's warring parties agree only to renew two-month truce, U.N. says.

Signs of AMD are seen at the China Digital Entertainment Expo and Conference, also known as ChinaJoy, in Shanghai, China July 30, 2021. REUTERS/Aly Song GLOBAL BUSINESS WEEK AHEADRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Advanced Micro Devices Inc (AMD.O) on Tuesday forecast third-quarter revenue slightly below Wall Street estimates, a signal of uncertainty that concerned some investors after the company stock made huge gains in July.AMD continued to show strong growth in the data center business, at the expense of its rival Intel, but the company cut its market forecast for personal computer sales and shares fell more than 5% after hours."After the surprisingly challenging quarter that Intel had, a lot of eyes were closely watching to see what AMD did and, overall, the numbers were solid," said Bob O'Donnell, chief analyst at TECHnalysis Research. "The issue is the market was looking for a better forecast, but it’s clear that the company sees a challenging market going forward.”Register now for FREE unlimited access to Reuters.comRunaway inflation and the reopening of offices and schools have led people to spend less on personal computers (PCs) than they did during lockdowns, hurting companies like AMD, which is among the largest suppliers of central processing units and graphics processing units chipsets.Chipmakers also are under pressure from a spate of COVID curbs in China, an important PC market, and the Ukraine war, which have worsened supply-chain snarls and dragged demand further. Global shipments of PCs are expected to drop 9.5% this year, according to IT research firm Gartner. read more Those pressures led to lower-than-expected earnings and forecasts from Intel Corp (INTC.O) last week. Analysts had worried that Intel's sales from Datacenter and AI Group (DCAI) falling 16% last quarter could also spell out a slowdown in the cloud business which has been booming. read more But AMD Chief Executive Officer Lisa Su told analysts on earnings calls that in her interactions with customers, the cloud business continued to be strong. "We're continuing to ramp new cloud instances ... we see that continuing into the second half of the year."Su said AMD continued to gain market share in the data center business.YipitData research director Nathaniel Harmon said AMD has been gaining market share in the data center and cloud market at Intel’s expense, while Intel has been losing 1-2 percentage points of share each quarter since the first quarter of 2019.Still, AMD is coping with a slowing PC market. Su told analysts that AMD revised its outlook on the PC market for this year to drop by the mid-teens percent from previous projections of a high single digit percent drop. Su said AMD was focusing on the higher end PC market.The company expects revenue of $6.7 billion, plus or minus $200 million, for the current quarter compared to analysts' estimate of $6.82 billion, according to IBES data from Refinitiv.AMD expanded its full-year forecast to a range of $26 billion to $26.6 billion, compared to about $26.3 billion earlier. Analysts had forecast $26.18 billion.Second-quarter revenue jumped 70% to $6.55 billion, inching past analysts' estimate of $6.53 billion.Adjusted earnings for the second quarter were $1.05 per share, topping analysts' estimates by 2 cents.Register now for FREE unlimited access to Reuters.comReporting by Yuvraj Malik in Bengaluru; Editing by Maju Samuel, Bill Berkrot and Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

AMD posts Q3 sales outlook below Wall St, data center growth remains strong.

Embattled lending platform Celsius wants to bring back ex-CFO Rod Bolger and pay him about $92,000 a month, prorated over a period of at least six weeks. The embattled lender says it needs Bolger to help it navigate bankruptcy proceedings as an advisor, according to a motion filed with the Southern District of New York."Because of Mr. Bolger's familiarity with the Debtors' business, the Debtors have requested, and Mr. Bolger has agreed pending the Court's approval, to continue providing advisory and consulting services to the Debtors pursuant to an Advisory Agreement," the filing reads. "In consideration for the advisory services rendered by Mr. Bolger, the Debtors agree to pay Mr. Bolger the sum of CAD $120,000 per month, prorated for partial months."The motion goes on to say that during Bolger's tenure, he led efforts to steady the business during turbulent market volatility this year, guiding the financial aspects of the business and acting as a leader of the company. Ultimately, it is up to New York's Southern District to decide whether to allow Bolger to come. onboard with Celsius. There is a Zoom hearing set for Monday, Aug. 8 to consider the motion.Bolger, a former CFO for Royal Bank of Canada and divisions of Bank of America, was previously with the company for five months before resigning on June 30, about three weeks after the platform paused all withdrawals, citing "extreme market conditions." While he worked full-time with the company as CFO, this motion shows that he had a base salary of $750,000 and a performance-based cash bonus of up to 75% of his base, in addition to stock and token options, bringing the top of total income range to around $1.3 million range.The company subsequently installed Chris Ferraro, then the head of financial planning, analysis, and investor relations for Celsius, to the post of CFO. Within days of his appointment, the company filed for bankruptcy.Once a titan of the crypto lending world, Celsius is in bankruptcy proceedings and facing down claims that it was running a Ponzi scheme by paying early depositors with the money it got from new users.At its peak in October 2021, CEO Alex Mashinsky said the crypto lender had $25 billion in assets under management. Now, Celsius is down to $167 million "in cash on hand," which it says will provide "ample liquidity" to support operations during the restructuring process. Celsius owes its users around $4.7 billion, according to its bankruptcy filing.That filing also shows that Celsius has more than 100,000 creditors, some of whom lent the platform cash without any collateral to back up the arrangement. The list of its top 50 unsecured creditors includes Sam Bankman-Fried's trading firm Alameda Research, as well as an investment firm based in the Cayman Islands.Retail investors have filed pleas to the judge to help them recover some of their lost holdings, with some saying that their life savings have effectively been wiped out.A CPA and Celsius investor with over $1,000,000 trapped on the Celsius platform filed an objection on Tuesday to challenge the motion by Celsius to reinstate its former CFO.

Bankrupt crypto lending platform Celsius is trying to hire its CFO back at $92,000 a month, filings say.

St. Louis Fed President James Bullard speaks about the U.S. economy during an interview in New York February 26, 2015. REUTERS/Lucas JacksonRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - The U.S. Federal Reserve and the European Central Bank may both be able to execute a "relatively soft landing" that avoids a harsh recession for their respective economies as they raise interest rates to rein in inflation, St. Louis Federal Reserve President James Bulllard said on Tuesday.That's because both central banks, despite battling the stiffest inflation rates in decades, began their current efforts with considerably more credibility than their counterparts in the 1970s and '80s, Bullard said in remarks prepared for delivery to a gathering of the Money Marketeers of New York University. Their predecessors from roughly half a century ago lacked such credibility before kicking off their own inflation-fighting efforts.In the Fed's case, that resulted in severe back-to-back recessions in the early 1980s when Fed Chair Paul Volcker had to raise rates to punishing levels to earn credibility and to lower inflation.Register now for FREE unlimited access to Reuters.com"Since modern central banks have more credibility than their counterparts in the 1970s, it appears that both the Fed and the ECB may be able to disinflate in an orderly manner and achieve a relatively soft landing," Bullard said in slides prepared for the presentation.Bullard's largely academic remarks on Tuesday followed those of a trio of his colleagues, who earlier in the day delivered a uniformly hawkish message that rattled bond and interest rate futures markets that had come out of last week's Fed meeting positioned for the U.S. central bank to dial back the pace of rate hikes. read more In separate appearances, Mary Daly, Charles Evans and Loretta Mester, presidents of the San Francisco, Chicago and Cleveland regional Fed banks, respectively, said they were "completely united" on getting U.S. interest rates up to a level that will more significantly curb economic activity and put a dent in the highest inflation rate since the 1980s. read more Last month the Fed raised its benchmark target rate by 75 basis points for a second straight meeting, and Chair Jerome Powell said another "unusually large" increase might be appropriate at the Fed's September policy meeting if data between now and then warrants it. The Fed's rate now stands in a range of 2.25-2.50%. read more Ahead of July's meeting, Bullard - among the most hawkish Fed policymakers - had said he wanted to see the Fed's target rate in the range of 3.75% to 4.00% by year-end, up from his previous target of 3.50%.As of June, the median expectation among Fed officials for rates at year-end was 3.40%, a figure which also will be updated at the Sept. 20-21 meeting.Last month, the ECB lifted its benchmark deposit rate for the first time since 2011 and signaled additional rate hikes ahead. read more Register now for FREE unlimited access to Reuters.comReporting by Dan Burns; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Fed's Bullard: 'Relatively soft landing' feasible for Fed, ECB.

Arizona Republican Gubernatorial Candidate Kari Lake speaks during former U.S. President Donald Trump's rally ahead of Arizona primary elections, in Prescott Valley, Arizona, U.S., July 22, 2022. REUTERS/Rebecca Noble/File PhotoRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Voters in Arizona, Michigan, Kansas, Missouri and Washington will choose candidates for U.S. Congress, governor and other offices as former President Donald Trump's effort to maintain dominance over the Republican Party is tested anew.Here are the key primary races to watch:ARIZONA GOVERNORThe Republican contenders include former news anchor Kari Lake, who is endorsed by Trump and has echoed his false claims that the 2020 election was fraudulent. Her main rival is developer Karrin Taylor Robson, who is backed by several establishment Republicans including Trump's former vice president, Mike Pence, and Arizona Governor Doug Ducey.Register now for FREE unlimited access to Reuters.comOn the Democratic side, the leading candidate is Arizona Secretary of State Katie Hobbs who has built a national profile by vociferously denying Trump's allegations. She is facing Marco Lopez, a former Obama administration official and former mayor of Nogales, a border city.ARIZONA U.S. SENATEA bitter fight to decide who will challenge incumbent Democratic Senator Mark Kelly in November has come down to three Republican candidates. Blake Masters, chief operating officer of Thiel Capital and president of the Thiel Foundation, has the financial backing of tech billionaire Peter Thiel and Trump's endorsement. Recent polling shows him leading state attorney general Mark Brnovich and Jim Lamon, a former power company executive.ARIZONA SECRETARY OF STATEOn the Republican side, the front-runner is Trump-endorsed state Representative Mark Finchem, who was present at the Jan. 6, 2021, rally that preceded the attack on the U.S. Capitol and has embraced Trump's stolen election claims. He faces several opponents. The Democratic contest pits former Maricopa County Recorder Adrian Fontes against state House of Representatives Minority Leader Reginald Bolding.KANSAS GOVERNORKansas Attorney General Derek Schmidt, who has Trump's endorsement, is expected to defeat an underfunded opponent in the Republican contest. The winner will challenge incumbent Democratic Governor Laura Kelly, who is among the most vulnerable Democratic governors in November.KANSAS ABORTION VOTEVoters in Kansas will decide whether the state constitution should go on protecting abortion rights in the first statewide electoral test of abortion rights since the U.S. Supreme Court overturned Roe v. Wade, the landmark 1973 ruling that legalized abortion nationwide.The ballot question asks whether voters want to amend the state constitution to assert there is no right to abortion. The amendment's passage, which requires a simple majority, would reverse a 2019 state Supreme Court ruling that established a right to abortion in Kansas.MICHIGAN GOVERNORA field of Republicans is vying to take on Democratic Governor Gretchen Whitmer, whose aggressive approach to closing down businesses during the coronavirus pandemic has made her a top target for conservatives.The chaotic Republican primary saw several candidates disqualified after a scandal involving falsified signatures on petitions to get on the ballot. In June, the FBI arrested candidate Ryan Kelley, a real estate broker, on misdemeanor charges stemming from the U.S. Capitol attack, though he has continued to campaign. Other Republican candidates include Tudor Dixon, a conservative commentator who has echoed Trump's false election fraud allegations, and Kevin Rinke, a businessman. Trump has not endorsed anyone.MICHIGAN'S 3RD CONGRESSIONAL DISTRICTIncumbent Representative Peter Meijer, one of the 10 Republicans to vote for Trump's second impeachment, is facing a primary challenge from John Gibbs, a former Trump administration official who has the former president's endorsement. Meijer is a moderate Republican in a district that Democrats see as a potential pickup. The campaign arm for House Democrats angered some supporters by running ads to promote Gibbs, who is seen as an easier target in November.MISSOURI U.S. SENATEIn the Republican contest, Eric Greitens, the former Missouri governor who resigned in disgrace after sexual assault and campaign finance fraud scandals, has slipped in the polls after a barrage of attack ads and calls from within his own party for him to withdraw over fears that his nomination could cost the party a safe seat.State Attorney General Eric Schmitt and U.S. Representative Vicky Hartzler are the other top contenders. One day before the vote, Trump in a statement said he supported "Eric," refusing to say whether he was endorsing Greitens or Schmitt.WASHINGTON STATE'S 3RD CONGRESSIONAL DISTRICTRepresentative Jaime Herrera Beutler, one of 10 Republicans to vote for Trump's impeachment in 2021, is facing a primary challenge from Joe Kent, a former Green Beret officer who has been endorsed by Trump. Herrera Beutler has held the seat since 2010.Register now for FREE unlimited access to Reuters.comReporting by Joseph Ax, Moira Warburton, Gabriella Borter and Richard Cowan, Editing by Ross Colvin, Alistair Bell and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

Factbox: Key races in Arizona, Michigan, Kansas, Missouri and Washington primary elections.