Multiple Secret Service failures ahead of the July rally for former President Donald Trump where a gunman opened fire were “foreseeable, preventable, and directly related to the events resulting in the assassination attempt that day,” according to a bipartisan Senate investigation released Wednesday.Similar to the agency’s own internal investigation and an ongoing bipartisan House probe, the interim report from the Senate Homeland Security and Governmental Affairs Committee found multiple failures on almost every level ahead of the Butler, Pennsylvania shooting, including in planning, communications, security and allocation of resources.”The consequences of those failures were dire,” said Michigan Sen. Gary Peters, the Democratic chairman of the Homeland panel.Investigators…
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A Southwest Airlines plane takes off from Hollywood Burbank Airport on July 25, 2024 in Burbank, California. Mario Tama | Getty ImagesSouthwest Airlines is planning to reduce service to and from Atlanta next year, cutting more than 300 pilot and flight attendant positions, according to a company memo seen by CNBC.The changes come a day before Southwest’s investor day, when executives will map out the company’s plan to cut costs and grow revenue as pressure mounts from activist investor Elliott Investment Management.Southwest told staff it isn’t closing its crew base in Atlanta. Instead, it will reducing staffing by as many as…
Georgijevic | E+ | Getty ImagesA surge in demand for artificial intelligence-focused semiconductors and AI-enabled smartphones and laptops could lead to the next global chip shortage, according to a report released Wednesday by consultancy Bain & Company.The last major semiconductor shortage happened during the Covid-19 pandemic amid supply chain disruption and a rise in demand for consumer electronics as people were forced to stay and work at home.Technology giants have been snapping up graphics processing units, or GPUs, mainly from Nvidia. These GPUs which are housed in data centers are critical for the training of huge AI models which underpin…
Check out the companies making headlines before the bell. Progress Software – The tech stock advanced nearly 7% after better-than-expected fiscal third-quarter results. Progress posted adjusted earnings of $1.26 per share on revenue of $178.7 million. Analysts polled by FactSet were expecting $1.14 per share on revenue of $176.2 million. KB Home – Shares plunged more than 6% following weaker-than-expected fiscal third-quarter earnings. KB Home earned $2.04 per share, or 2 cents below the estimate of analysts surveyed by LSEG. The homebuilder’s year-over-year housing gross margin also fell. Bilibili – Shares lost more than 5% despite JPMorgan naming it a…
People secure their boats ahead of the arrival of Hurricane Helene in Cancun, Quintana Roo state, Mexico on September 24, 2024.Elizabeth Ruiz | AFP | Getty ImagesTropical Storm Helene was rapidly strengthening in the Caribbean Sea and expected to become a hurricane Wednesday while moving north along Mexico’s coast toward the U.S., prompting residents to evacuate, schools to close and officials to declare emergencies in Florida and Georgia.The storm is forecast to be “near hurricane strength” when it passes near Mexico’s Yucatan Peninsula early Wednesday, the U.S. National Hurricane Center said, and to “intensify and grow in size” as it…
Jakub Porzycki | Nurphoto | Getty ImagesGoogle filed an antitrust complaint with the European Commission Wednesday accusing Microsoft of using unfair licensing contracts to stifle competition in the multibillion-dollar cloud computing industry.At the heart of Google’s complaint is the allegation that Microsoft uses unfair licensing terms to “lock in” clients and exert control over the cloud market.Google alleges that Microsoft, through its dominant Windows Server and Microsoft Office products, can make it difficult for its massive roster of clients to use anything but its Azure cloud infrastructure offering.The internet giant said in its complaint that restrictions contained in Microsoft’s cloud…
Boeing CEO Dave Calhoun testifies before a subcommittee of the Senate Energy and National Resources Committee on the company’s safety culture, following a number of recent incidents on Boeing airplanes, Washington, DC, June 18, 2024. Allison Bailey | Afp | Getty ImagesA U.S. Senate panel investigating Boeing’s safety culture on Wednesday faulted the planemaker’s quality practices and oversight by the Federal Aviation Administration citing documents obtained in an ongoing investigation.The Senate Permanent Subcommittee on Investigations, which is holding a hearing Wednesday with FAA Administrator Mike Whitaker, said Boeing workers continue to feel pressure to prioritize speed of production over quality.The committee’s…
A sign is posted in front of a home for sale in San Rafael, California, on Aug. 7, 2024.Justin Sullivan | Getty ImagesA steady decline in mortgage rates to two-year lows has current homeowners rushing to take advantage of potential savings.Applications to refinance a home loan surged 20% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Demand was a stunning 175% higher than the same week one year ago.This as the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.13% from 6.15%, with…
Bettina Orlopp, chief financial officer of Commerzbank AG, speaks during a fourth quarter earnings news conference at the bank’s headquarters in Frankfurt, Germany, on Thursday, Feb. 13, 2020.Alex Kraus | Bloomberg | Getty ImagesCommerzbank announced Tuesday it has picked 10-year veteran, and current Chief Financial Officer Bettina Orlopp to helm the bank as chief executive as it seeks to fend off a potential hostile takeover from Italian bank UniCredit.The bank has been on the defensive as UniCredit looks to become its largest shareholder, signaling the potential for a full takeover.Earlier this month, the Milan-based bank started building its shareholding with…
Gisèle Pelicot waived anonymity to make public the trial of her former husband and the 50 men accused of joining him in raping her. The trial has revived the question of consent within French law and turned Ms. Pelicot into a feminist icon. Catherine Porter, an international correspondent for The New York Times based in France, explains. Source link
