Author: News Room

Topline The Biden campaign said former President Donald Trump’s historic felony conviction Thursday shows “no one is above the law,” but reminded voters it won’t stop Trump from running for president, in a rare statement just minutes after a Manhattan jury found Trump guilty on all 34 counts of falsifying business records. Key Facts Biden posted a fundraising appeal to his X account shortly after his campaign released a statement, writing “there’s only one way to keep Donald Trump out of the Oval Office: At the ballot box,” with a link to donate to the campaign. Biden campaign spokesperson Michael…

By Lewis Krauskopf NEW YORK (Reuters) – It’s been a banner year for the major U.S. stock indexes, but one economically sensitive corner of the market sticks out as a sore spot. The Average has fallen about 5% so far this year, a significant contrast with the 9% year-to-date rise for the benchmark and the 1% rise in the , which topped 40,000 points for the first time this month. While major indexes including the S&P 500, the and the Dow have all set new all-time highs this year, the Dow transports have yet to top their November 2021 record,…

A cryptocurrency trader has managed to take advantage of the launch of a red-hot celebrity-themed token to capture a large percentage of its total supply, which they used to turn less than 1 ETH into over $350,000. According to available blockchain data, the trader took advantage of the launch of a Caitlyn Jenner-themed token trading under the ticker symbol $JENNER, and promoted by Caitlyn Jenner herself on social media. $Jenner is live NOW on $ETH. Official contract address to trade now: 0x482702745260Ffd69FC19943f70cFFE2caCd70e9 pic.twitter.com/9Bz9DCFvqz — Caitlyn Jenner (@Caitlyn_Jenner) May 30, 2024 The cryptocurrency trader managed to use roughly $3,200 – 0.85…

A key witness in the federal corruption trial of Sen. Bob Menendez testified Friday that the New Jersey Democrat told him to “stop interfering” when he raised concerns about a newfound food industry monopoly by a constituent of the senator’s. Ted McKinney, a former US Department of Agriculture official, said he learned in April 2019 that Egypt had de-listed seven halal certifiers in the US from approving meat exports and replaced them with a sole certifier, IS EG Halal. That company is owned by Wael Hana, Menendez’s constituent and alleged co-conspirator in the case. Menendez and Hana, along with New…

Just days before the UEFA iShares MSCI EAFE ETF Champions League final pits Real Madrid against Borussia Dortmund at Wembley Stadium, the Spanish club has been rocked by speculation from MARCA that Manchester City is pursuing one of those expected to start in London. The report claims that the Cityzens are monitoring the situation of attacker Rodrygo Goes, who has scored 17 goals in 50 games for the Spanish team this campaign. He has become a regular alongside Vinícius Júnior in Los Blancos’ attack, with Jude Bellingham also performing well as part of a front three. The Brazilian is not…

Amazon’s package delivery drones are expanding their horizons following a nod of approval from the FAA, the company announced on Thursday.”We’re excited to share that the FAA has given Prime Air additional permissions that allow us to operate our drones beyond visual line of sight, enabling us to now serve more customers via drone and effectively expand and scale our drone delivery operations,” Amazon said in a press release.The FAA requires companies to get approval to operate drones beyond a pilot’s visual line of sight, something Amazon said it accomplished after developing “detect-and-avoid technology.” “We’ve spent years developing, testing, and…

By Howard Schneider WASHINGTON (Reuters) -Price cuts by major U.S. retailers and new data showing a slowdown in consumer spending may boost the Federal Reserve’s confidence in falling inflation and take the edge off of corporate profits that have grabbed a larger share of national income since the start of the COVID-19 pandemic. Adjusted for inflation both overall consumption and disposable income dropped slightly in April. The Commerce Department had reported on Thursday that the U.S. economy grew more slowly than initially thought over the first three months of the year largely because of a lowered pace of consumption, a…

(Reuters) – A Tesla (NASDAQ:) shareholder filed a lawsuit on Thursday accusing CEO Elon Musk of insider trading when he sold over $7.5 billion of shares of the electric car maker in late 2022, saying the billionaire entrepreneur sold the shares before potentially disappointing production and delivery numbers were made public. Shareholder Michael Perry, in the lawsuit filed in Delaware Chancery Court, said that Tesla’s share price plummeted after the company’s fourth-quarter numbers were made public on Jan. 2, 2023, and claimed that Musk “improperly benefited” by about $3 billion in insider profits. “Musk exploited his position at Tesla, and…

WASHINGTON (Reuters) – The U.S. military said on Friday Yemen’s Houthis launched two anti-ship ballistic missiles and one drone over the Gulf of Aden and four drones over the Red Sea. Three of the drones fired over the Red Sea were destroyed by U.S. forces and one crashed into the sea, the U.S. military’s Central Command said. Centcom also said it destroyed the drone fired over the Gulf of Aden. No damage or injuries were reported as a result of the anti-ship ballistic missiles, it said.

POTUS argues that overturning SAB 121 would “jeopardize the well-being of consumers and investors” and constrain the SEC’s ability to address future issues in the crypto space. President Joe Biden has vetoed a bipartisan resolution that aimed to overturn the Securities and Exchange Commission’s (SEC) Staff Accounting Bulletin 121 (SAB 121), a controversial piece of guidance that establishes accounting standards for firms that custody crypto assets. The resolution had passed both the House and Senate with significant support from Republicans and some Democrats. In his veto statement, Biden emphasized the need for appropriate guardrails to protect consumers and investors in…