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    US soldier was arrested in Russia last week, officials say

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    Vlad Karkov/SOPA Images/LightRocket/Getty Images

    MOSCOW, RUSSIA – 2022/05/20: The Russian tricolor flag is seen on top of the Kremlin Senate located inside the Kremlin Wall. (Photo by Vlad Karkov/SOPA Images/LightRocket via Getty Images)



    CNN
     — 

    An American soldier was detained in Russia last week on suspicion of theft and is currently being held in pre-trial detention, according to two US officials.

    The soldier, a staff sergeant, was arrested on May 2 by Russian authorities, the officials said. He was stationed in South Korea and traveled to Russia of his own volition, they said.

    An Army spokesperson confirmed on Monday that the soldier was detained by Russian authorities in Vladivostok “on charges of criminal misconduct.”

    “The Russian Federation notified the U.S. Department of State of the criminal detention in accordance with the Vienna Convention on Consular Relations,” said spokesperson Cynthia Smith. “The Army notified his family and the U.S. Department of State is providing appropriate consular support to the Soldier in Russia. Given the sensitivity of this matter, we are unable to provide additional details at this time.”

    The US Embassy in Moscow is seeking consular access to the soldier and has informed his family of his detention, the officials said.

    There are a number of Americans being held in Russia, including two who have been declared as wrongfully detained by the US State Department – Wall Street Journal reporter Evan Gershkovich and former Marine Paul Whelan.

    Last July, another soldier stationed in South Korea willingly crossed into North Korea where he was immediately detained. Pvt. Travis King had been on a border tour of a civilian area when he ran across the Joint Security Area (JSA) and into North Korea.

    King was supposed to have boarded a flight back to the United States to face disciplinary procedures. But after Army escorts released him at a security checkpoint at Incheon International Airport near Seoul, King left the airport on his own.

    It took weeks of secretive and intense diplomacy involving multiple countries to secure King’s release in September. He was charged with desertion in October.

    CNN’s Jennifer Hansler contributed to this report.

    This story is breaking and will be updated.

    Stocks gain as Fed rate hopes fuel continued rally

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    Stocks rose Monday as Wall Street looked set to build on an end-of-week surge precipitated by a softer-than-expected jobs report that helped spur bets toward an earlier rate cut from the Federal Reserve.

    The S&P 500 (^GSPC) gained 0.8% while the tech-heavy Nasdaq Composite (^IXIC) rose 0.9%. The Dow Jones Industrial Average (^DJI) increased roughly 0.4%.

    Stocks rallied at the end of last week, getting a boost from a “Goldilocks” jobs report that struck the balance in providing welcome news for both the markets and the Fed. More than two-thirds of bets are now on a September rate cut from the Fed, according to the CME FedWatch Tool. Most traders now expect at least two cuts by the end of the year.

    Those bets could be swung by the return of Fedspeak this week, now that free-speaking Fed officials are untethered from a pre-meeting blackout period.

    On Monday, New York Fed president John Williams said officials will make rate cut decisions based on the totality of incoming data. Williams assured eventually “we’ll have rate cuts,” but for now monetary policy is in “a very good place.”

    Also on Monday, Federal Reserve Bank of Richmond President Thomas Barkin expressed optimism that inflation will come down to 2% as “the full impact of higher rates is yet to come.”

    Minneapolis’s Neel Kashkari is set to speak on Tuesday.

    In corporate news, Disney (DIS) will take center stage this week as earnings season starts to wind down. Its stock is up around 25% so far this year.

    Boeing (BA) sank more than 1% in afternoon trading after the the Federal Aviation Administration (FAA) said it has launched a new probe into the aircraft maker’s 787 Dreamliner after the company revealed to regulators last month it may not have completed required inspections.

    A Boeing spokesperson told Yahoo Finance, “we promptly notified the FAA and this is not an immediate safety of flight issue for the in-service fleet.”

    After a 6% post-earnings rally on Friday, Apple (AAPL) shares lost around 0.5% after Berkshire Hathaway CEO Warren Buffett revealed over the weekend the company had pared its holdings in the iPhone maker.

    Live10 updates

    • Disney earnings preview: set to report first earnings report since Nelson Peltz proxy battle win

      Disney (DIS) will report its fiscal second quarter earnings before the bell on Tuesday — its first earnings report since the media giant successfully fended off a high-profile proxy fight with activist investor Nelson Peltz.

      As a reminder, Disney recently adjusted its reporting structure after CEO Bob Iger reorganized the company into three core business segments: Disney Entertainment, which includes its entire media and streaming portfolio; Experiences, which encompasses the parks business; and Sports, which includes ESPN networks and ESPN+.

      Over the past year, Disney has been grappling with challenges that include a declining linear TV business, slower growth in its parks business, and profitability hurdles in streaming. But a recent turnaround plan from CEO Bob Iger has investors more bullish in recent months.

      Here’s how Wall Street expects Disney to perform, according to consensus estimates compiled by Bloomberg:

      • Total revenue: $22.10 billion versus $21.82 in Q2 2023

      • Adj. earnings per share: $1.10 versus $0.93 in Q2 2023

      • Entertainment revenue: $10.31 billion

      • Sports revenue: $4.33 billion

      • Experiences revenue: $8.18 billion

      • Disney+ subscribers: 4.71 million versus a loss of 4 million subscribers in Q2 2023

      Disney’s stock has been on a tear since the start of the year, up about 30% compared to the S&P 500’s (^GSPC) 10% rise over that same time period.

      The bullish sentiment has been driven by improved financials along with a slew of fresh announcements the company revealed in February — just ahead of its proxy fight win.

      “I don’t know that [Disney has] a lot left in its pocket for this earnings report,” Doug Creutz, managing director at TD Cowen, told Yahoo Finance. “I think numbers will be fine, but I don’t think you’ll see nearly as much ‘new news’ as we did three months ago.”

      Read more here.

    • A quiet economic data week is usually a good thing for stocks

      After several weeks inflation and Federal Reserve interest rate cuts driving the market narrative, it’s all quiet on the economic news front.

      There are no notable economic data releases set for this week.

      And research from Bank of America shows that’s usually a good thing for stocks. Since 2014, the S&P 500 (^GSPC) has risen 0.6% during weeks with no key macro data releases. The median gain in other weeks is 0.2%, per BofA.

    • Companies are having their best earnings season in nearly 2 years

      Stocks have remained largely resilient in recent weeks despite reports of sticky inflation and risk that the Federal Reserve holds interest rates higher for longer than investors expect. Wall Street strategists believe that’s likely due to a better-than-expected set of first quarter earnings.

      With 80% of the companies in the S&P 500 (^GSPC) done reporting, the benchmark index is pacing for 5% growth in first quarter earnings per share, per FactSet. This is the biggest year-over-year increase since the second quarter of 2022 and higher than the 3.2% growth analysts had expected prior to the start of the season.

      “Higher interest rates usually hurt U.S. stock valuations,” Jean Boivin, the head of the BlackRock Investment Institute, wrote in a weekly note on Monday. “Instead, strong Q1 earnings have supported stocks even as high rates and lofty expectations raise the bar for what can keep markets sanguine.”

      Perhaps the most notable move on the earnings front in the past month has come in second quarter outlooks. Thus far, 55% of the companies that have reported have given lower EPS guidance than analysts expected for the current quarter, well below the 10-year average of 63%, per FactSet.

      This comes as analysts have remained surprisingly optimistic on the current quarter. Typically, analysts cut earnings forecasts as the quarter rolls on. That hasn’t happened yet.

      Through the first month of the second quarter, analysts have raised their earnings per share projections for companies in the S&P 500 by an aggregate of 0.7%. This compares to a usual decline of 1.8% over the past 20 years.

      DataTrek co-founders Jessica Rabe and Nicholas Colas described this as a “bullish development.”

      “Even with all the uncertainty around monetary policy, it is hard to see US large caps falling very much when estimate revisions are positive,” the DataTrek team wrote. “The bear case for stocks needs an exogenous shock to come along, and quickly.”

      Read more here.

    • Current rates should be enough to bring inflation down: Fed’s Barkin

      Yahoo Finance’s Jennifer Schonberger reports:

      Richmond Fed president Tom Barkin said Monday he is optimistic that the current interest rates will be enough to eventually bring inflation down, and that the Fed can afford to be patient due to a strong job market.

      “The recent data whiplash has only confirmed the value of the Fed being deliberate,” Barkin said in a speech at Columbia Rotary Club in South Carolina.

      “The economy is moving toward better balance, but no one wants inflation to reemerge.”

      Barkin’s comments come after inflation showed a lack of progress in the first three months of the year after a steady decline in the second half of last year.

      Read more here.

    • Boeing countdown to Starliner first crewed mission to ISS

      Boeing (BA) stock was up more than 1% ahead of the industrial giant’s first planned astronaut launch to NASA’s International Space Station on Monday night at 10:34 p.m. Eastern.

      If the flight proves successful, it could pave the way for NASA to allow Boeing to conduct routine flights to and from the ISS for the agency. Boeing’s Starliner program has faced a series of setbacks and delays over the years. The Starliner space capsule failed to reach the ISS in 2019.

      Monday’s milestone comes amid an ongoing safety controversy and a leadership change at Boeing.

    • Trending tickers Monday

      Palantir Technologies (PLTR)

      Palantir stock rose more than 6% Monday morning to occupy the No. 1 slot on Yahoo Finance’s trending ticker page with the software developer’s first quarter earnings results due out after the market close. Analysts will be paying close attention to the company’s performance in its artificial intelligence platform (AIP) segment.

      Tyson Foods (TSN)

      Shares of Tyson Foods fell Monday despite reporting better-than-expected earnings for the second quarter. While the company beat revenue estimates, it missed on net sales due to a consumer spending slowdown and issues stemming from the company’s chicken production operations.

      Disney (DIS)

      Disney is set to deliver its quarterly results on Tuesday prior to the market open. The print will be the first results released since the media conglomerate won its proxy fight with Nelson Peltz last month. Investors will be watching for subscriber growth in streaming services, parks attendance, and Disney’s read on the summer box office.

    • Robinhood gets new legal threat from SEC as crypto crackdown continues

      Yahoo Finance’s David Hollerith reports:

      Robinhood (HOOD) said it received a Securities and Exchange Commission warning that the trading platform could face an enforcement action related to its US crypto business.

      The so-called Wells notice that Robinhood received May 4 stated that the SEC’s staff made a “preliminary determination” to recommend the action due to violations of registrations as a securities broker and transfer agent.

      Its stock, however, rose more than 1% in early morning trading Monday after dropping by as much as 7% before the market open.

      Robinhood warned in its disclosure that a potential action from the SEC could mean a civil complaint and a public court proceeding that could end in a fine, a cease-and-desist order, and other limitations on its crypto activities.

      The SEC has gone after a number of firms that let US customers trade cryptocurrencies as part of a wide-ranging crackdown on the industry. Read more here.

    • Energy stocks lead gains as oil edges higher

      Energy-related stocks gained Monday as oil inched higher. The S&P 500 Energy Sector Select ETF (XLE) rose more than 1%, leading the overall market gains.

      Crude futures rose on renewed geopolitical tensions and after Saudi Aramco increased its prices for Asian customers, signaling tight supply.

      West Texas Intermediate (CL=F) rose less than 1% to hover above $78 per barrel. Brent, the international benchmark price, also gained (BZ=F) to trade above $83 per barrel.

      Last week, oil fell more than 6% amid diplomatic efforts for a ceasefire between Hamas and Israel. By Monday, that prospect had dimmed.

      “I believe we have seen some major liquidation in the crude space from hedge funds and therefore, more buying power could be on the sidelines if we get renewed Geopolitical fears,” Dennis Kissler, senior vice president at BOK Financial, said in a note to clients on Monday.

    • Stocks edge higher on hopes of Fed rate cuts this year

      Stocks opened higher on Monday as Wall Street looked set to continue the market’s surge on Friday on bets the Federal Reserve will cut rates this year amid a softening job market.

      The S&P 500 (^GSPC) gained 0.4%, while the tech-heavy Nasdaq Composite (^IXIC) rose 0.3%. The Dow Jones Industrial Average (^DJI) rose more than 0.4%.

      In corporate news, Disney (DIS) will report quarterly results this week, as earnings season starts to wind down.

      Apple (AAPL) shares opened slightly lower Monday after Berkshire Hathaway CEO Warren Buffett revealed over the weekend the company had pared its holdings in the iPhone maker. Apple stock gained more than 6% on Friday in reaction to the company’s quarterly results and historic share buyback announcement.

      RobinHood (HOOD) revealed it received a “Wells Notice” from the Securities and Exchange Commission (SEC) informing the trading platform of potential securities violations related to crypto trading.

    • Monday’s quick earnings primer

      Via the Yahoo Finance Morning Brief newsletter (sign up here), here’s a quick glance at the biggest companies reporting earnings today:

      Post-close

    Hamas accepts Gaza ceasefire proposal from Egypt and Qatar

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    CNN
     — 

    Hamas said it has accepted a ceasefire deal proposed by Egypt and Qatar which seeks to halt the seven-month war with Israel in Gaza.

    In a statement Monday, Hamas said the head of its political bureau, Ismail Haniyeh, told the Qatari prime minister and Egyptian intelligence minister that the militant group had accepted their proposal.

    The Israeli government is now reviewing the Hamas response, CNN has learned. The Israeli prime minister’s office has declined to comment at this stage.

    It’s unclear whether Hamas has agreed to the most recent ceasefire proposal, as outlined last week, or a revised version of it.

    The most recent framework, which Israel helped craft but has not fully agreed to, calls for the release of between 20 and 33 hostages over several weeks in exchange for a temporary ceasefire and the release of Palestinian prisoners.

    After the initial exchange, according to that framework, there would follow what sources describe as the “restoration of sustainable calm” during which the remaining hostages, captive Israeli soldiers and the bodies of hostages would be exchanged for more Palestinian prisoners.

    A diplomatic source familiar with the talks told CNN that after a day-long meeting in Doha, Qatar’s capital, between CIA Director Bill Burns and Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani, mediators had convinced Hamas to accept a three-part deal.

    “The bill is now firmly in (Israeli Prime Minister) Benjamin Netanyahu’s court,” the source said.

    The White House on Monday confirmed that there had “been a response from Hamas” to a proposed hostage deal in Israel, and that US President Joe Biden had been briefed on that response, but otherwise declined to weigh in specifically on what a deal could entail.

    Biden is “aware of where the situation and where the process is,” White House national security spokesman John Kirby told a press briefing. CIA Director Bill Burns remains in the region “working in real time on the ground,” Kirby added.

    “We still believe that reaching an agreement is the absolute best outcome not only for the hostages, but for the Palestinian people and we’re not going to stop working to that outcome,” he said.

    As news spread in Gaza of Hamas’ announcement, Palestinians began to celebrate in the street in Deir al-Balah, in the center of the Strip, and Gaza City in the north.

    AFP/Getty Images

    Palestinians in Rafah celebrate news that Hamas has accepted a ceasefire proposal, May 6, 2024.

    The news comes just hours after Israel ordered Palestinians living in Rafah, a city in southern Gaza, to “evacuate immediately.”

    The order raised fears that Israel’s long-threatened assault on the city could be imminent. More than 1 million Palestinians have fled to Rafah, where Hamas is believed to have regrouped after Israel’s destruction of much of the north of Gaza.

    A source familiar with Israeli plans told CNN that a limited incursion into Rafah was intended to keep pressure on Hamas to agree a deal that would bring about a ceasefire and a hostage release.

    Asked whether Hamas’ acceptance of a deal could change Israel’s plans for Rafah, Israel Defense Forces (IDF) spokesperson Daniel Hagari said the military would continue to operate in Gaza. He said operations are ongoing, but that the IDF is making every effort in the negotiations to bring the hostages home as “fast as possible.”

    Netanyahu has come under fierce pressure from the more extreme wing of his coalition not to accept the ceasefire proposal outlined last week, and to focus instead on destroying Hamas in Rafah.

    Orit Strook, Israel’s settlements minister and a member of the far-right Religious Zionism party, said last week that accepting the deal would “throw” Israel’s military progress “in the trash.”

    Itamar Ben Gvir, Israel’s national security minister, said Netanyahu had “promised that Israel would enter Rafah, assured that the war would not end, and pledged that there would be no reckless deal.”

    But large parts of the Israeli public have demanded Netanyahu accept a deal. Families and supporters of the hostages blocked the Ayalon Highway in Tel Aviv last week, holding a banner reading: “Rafah or the hostages – choose life.”

    Benny Gantz, a member of Israel’s war cabinet but seen as a rival and possible successor to Netanyahu, said the return of hostages was more urgent that entering Rafah.

    Responding to Monday’s announcement, the Hostages Families Forum said: “Now is the time for all that are involved, to fulfil their commitment and turn this opportunity into a deal for the return of all the hostages.”

    This is a developing story and will be updated.

    Alert: Do this before you install One UI 6.1 on your Galaxy device!

    Samsung took two months to bring One UI 6.1 to older devices after the latest version of One UI debuted on the Galaxy S24 series earlier this year. Once the rollout did begin, Samsung only included flagship phones and tablets launched in 2023 in the first phase.

    The second phase finally started a few days ago, with Samsung starting the rollout of the One UI 6.1 update to the Galaxy S21 series, the Galaxy S22 series, the Galaxy Z Fold 4, and Galaxy Z Flip 4 in South Korea on May 2. But despite all the time Samsung took to make One UI 6.1 work on older devices, things didn’t go as smoothly as expected.

    Galaxy S22, S22+, and S22 Ultra owners in Korea ran into issues accessing their phones after installing the update, forcing Samsung to pause the rollout. Some units are reportedly failing to boot or, if they do boot and get to the lockscreen, they are failing to unlock.

    Such issues are not uncommon with major software updates, and while users with Galaxy phones and tablets from 2023 who received One UI 6.1 didn’t have any problems, it appears others haven’t been so lucky. It may also be one of the reasons why Samsung hasn’t expanded the update’s availability for pre-2023 devices outside Korea many days after the initial release.

    Taking the aforementioned issues into account, there are a couple of steps everyone with a Galaxy phone or tablet eligible for One UI 6.1 should take before installing the update.

    First step before installing One UI 6.1: Make a data backup

    Making a data backup is a good idea before any major OS update, but even if that’s not something you do, you should make an exception when you install One UI 6.1. There are multiple ways to back up all your data, including making a temporary cloud backup using your Samsung account from your device’s Device care » Maintenance mode menu.

    You can find more information about making temporary cloud backups on your Samsung account at this link. For more backup methods, check out our preparation guide for One UI 6.0 here. That guide also has other recommendations that you may find useful, though the backup part is the most critical.

    Disable screen lock/bypass the lock screen

    It’s virtually impossible to find people who don’t lock their phone with a password, PIN, or fingerprint these days. But considering one of the issues after installing One UI 6.1 is being unable to unlock the device, you may want to disable the lock screen before going ahead with the update.

    You can change the screen lock type from the Settings » Security and privacy » Lock screen » Screen lock menu on your phone or tablet. Selecting the None screen lock type will disable the lock screen and make your phone boot straight to the home screen.

    Removing the screen lock will remove any registered fingerprints, pattern, and PIN you are using, but we think that’s a minor inconvenience that you should ignore. You can re-register and create those again once One UI 6.1 is installed and your phone has safely booted up.

    Highlights from the 2024 Met Gala exhibit: Sleeping Beauty would wake up for these gowns

    ▶ Follow AP’s live coverage of the 2024 Met Gala here.

    NEW YORK (AP) — Sure, she was a royal princess and all. But there’s no way Sleeping Beauty — either before or after her nap — ever had quite the fabulous wardrobe that’s been assembled at the Metropolitan Museum of Art.

    “Sleeping Beauties: Reawakening Fashion,” the spring Costume Institute exhibit that debuts at Monday’s Met Gala, is not technically about THAT Sleeping Beauty. The title’s nod to the fairytale is actually a reference to the glass coffins — “let’s be more upbeat and call them cases,” quips curator Andrew Bolton — that hold 16 aging garments now so fragile that they can’t be shown upright. These delicate creatures have been slumbering, like Aurora herself, in the museum’s climate-controlled archives.

    But these “beauties” are only a small fraction of the 220 items on display in the nature-themed “Sleeping Beauties,” which Bolton calls one of the institute’s most ambitious shows yet (his previous blockbusters include “Alexander McQueen: Savage Beauty” and “China: Through the Looking Glass”). It’s also special to Bolton because every item on display is from the museum’s own collection.

    Another key difference: This show will be a multisensory experience, involving not just sight but smell, sound and touch. Organized into themes of earth, air and water, the show makes use of a “smell artist” who extracted and analyzed molecules from clothing, creating scents visitors can now sniff from plastic tubes. Curators have also captured sounds of fabrics in an echo-free chamber, and used 3D scans to replicate embroidery patterns for touching.

    Despite the scale, “I really wanted to make this intimate and participatory,” Bolton said during a weekend tour through the show. In fact, there’s even a mannequin in a gown you can text a question to, and she’ll deliver a ChatGPT-enabled response.

    A few highlights:

    STRAIGHT FROM ‘THE GILDED AGE’

    A late 19th-century, satin-and-chiffon ballgown begins the show, its intricate embroidery of metallic threads, golden beads and sequins evoking sunbeams radiating from clouds. But the “cloud dress” by influential English designer Charles Frederick Worth is doomed, due to deterioration of the vertical threads — “there’s nothing we can do about it,” Bolton says. Except perhaps to recreate it digitally: On a screen nearby, an animated “Pepper’s ghost” illusion that took nine months to perfect shows the gown dancing at a ball. The gown was donated by relatives of Caroline Schermerhorn Astor, played on HBO’s “The Gilded Age” by Donna Murphy.

    THE SOUNDS OF ‘SCROOP’ (AND RAZOR CLAMS)

    A trio of gowns from the 18th, 19th and 20th centuries explores the look of “blurred blossoms” — the effect that makes a dress look like a watercolor or an Impressionist work. But in this gallery you also hear “scroop” — the sound of silk taffeta rustling (a combination of the words “scrape” and “whoop”). The sound was captured in an echo-free chamber at Binghamton University. In another gallery, you can hear the clattering of razor clam shells, captured the same way — accompanying McQueen’s dramatic “razor clam” dress, covered with dried and bleached shells.

    A DIOR TO ADORE

    Christian Dior was influenced by Impressionist painters, and nowhere is this more evident than in the delicate floral embroidery on the famous Miss Dior dress, here a miniature version of the original. It looks just like a chic (and strapless) bouquet of flowers, and if you’re dying to touch it, there’s a small, white replica in 3D printed plastic. You can also run your hands over wallpaper created to match the shape and form of the flowers in the edgy 2013 Raf Simons version of the dress in black, with flowers in leather.

    SPEAKING OF EMBROIDERY

    In 1988, Yves Saint Laurent paid homage to Van Gogh’s famous depiction of irises a hundred years earlier, with a glistening jacket celebrated for its embroidery. The museum lays it flat to give a closer view of a garment that took 600 hours of work by artisans who used 250 meters of ribbon, 200,000 beads and 250,000 paillettes (spangles) in 22 colors.

    SMELL THE ROSES

    In a show devoted to nature, it’s hardly surprising to find rooms devoted to roses. And you’re invited to smell them, via scents carried in plastic tubes — not simply the smell of roses, but the smell of garments themselves and those who wore them. Bolton explains that Norwegian “smell artist” Sissel Tolaas brought an apparatus that extracted molecules from 57 garments. Two evening dresses, one by Saint Laurent for Dior and one by Lanvin, yielded molecules found in things like almonds and honey, tobacco and hay, and even “a mild sex attractant for moths and cockroaches.”

    SCENT OF A WOMAN

    Yes, it was an Al Pacino movie — but here, it’s a gallery devoted to Millicent Rogers, a socialite, heiress and art collector known for her style and how she combined haute couture with regional dress. This gallery focuses on her scent, though, analyzing molecules from her garments — like a 1938 Schiaparelli evening dress in blue silk crepe — to discover her fragrances but also habits and lifestyle, “including what she ate, drank and smoked.”

    THIS COAT IS ALIVE! (BUT NOT FOR LONG)

    A prime draw in the “Garden Life” section is a grass coat in which the wool itself has been planted, like soil, with oat, rye and wheatgrass. Right now, the design by gala honorary chair Jonathan Anderson of the label Loewe (a sponsor of the show) looks beautiful and green. But it is dying, because this version cannot be watered, and will be replaced about a week from opening with a version in a different stage of life. Also here: a slew of floral hats from the Met’s copious collection. These, too, have been analyzed for smell — eliciting scents containing hairspray, unsurprisingly, but also chewing gum, cigarettes and other things.

    DON’T FEED THESE BIRDS!

    Bolton has said he wants to depict not just nature but shades of emotion — including fear. Which is just what you may feel when you get to the part on flying things: insects and beetle wings, for example. Also, birds. McQueen is said to have adored Alfred Hitchcock’s “The Birds,” and here we have his orange wool jacket printed with black swallows. The creepy part is the animation on the ceiling: first a few black birds, then more, then so many that the space turns an ominous black. The animation, created in consultation with wildlife experts, comprises “14,000 digital swallows,” ending with 4,000 simulated feathers. For sound, real swallow calls were recorded, and also the “humming” sound from the 1963 movie itself was captured to create tension.

    “Sleeping Beauties: Reawakening Fashion” will open to the public Friday and run through Sept. 2.

    ___

    For more coverage of the 2024 Met Gala, visit https://apnews.com/hub/met-gala.

    CE 100 Index Rises 0.7% as Earnings Drive Lifestyle Categories

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    The CE 100 Index gained 0.7%, buoyed by continued earnings reports that boosted the fortunes of the Shop and Live pillars.

    Shares of Koninklijke Philips N.V. (Philips) were 27.6% higher, as the Live segment of the CE 100 Index was 4.2% higher.

    The company said comparable sales were 2% higher year over year, to 4.1 billion Euros, driven by the Diagnosis & Treatment and Personal Health segments.  Diagnosis & Treatment comparable sales increased 3%. At the end of last month, the announcement came that Philips settled personal injury and medical monitoring claims in the U.S. for $1.1 billion.

    iRobot followed, also boosting the Live sector, with a 21.1% gain. As reported this week, The Chair of the House Oversight Committee, Republican Representative James Comer, has announced an investigation into the Federal Trade Commission’s (FTC) involvement with the European Commission regarding Amazon.com’s failed attempt to acquire iRobot Corp in a $1.4 billion deal.

    Comer expressed concerns that the FTC’s actions could harm America’s standing in the global personal robotics market while potentially benefiting foreign competitors, particularly those based in China.

    Live Pillar Surges on Pinterest Gains  

    Pinterest shares gathered 19%.  The company posted results that helped move the Shop pillar of the CE 100 Index 7.7% higher.  Revenue was up 23% year over year in the period, to $740 million.  Global Monthly Active Users increased 12% year over year to 518 million.  Average revenue per user was up 10% year over year to $1.46 in the most recent quarter.  The company expects second quarter revenue growth to be in the range of 18% to 20% year on year.

    But Fastly shares plunged nearly 34%, while the Enablers segment lost 1.1%.

    The company’s latest earnings notched total revenue of $133.5 million, representing 14% year-over-year growth. Network services revenue of $106.0 million, up 12% year-over-year.  Current quarter guidance came in below expectations, as the guided range of $130 million to $134 million fell short of consensus estimates of more than $140 million.

    Coursera shares gave up about 20%, leading the Work segment 1.9% lower.

    In PYMNTS’ exploration of earnings-related puts and takes in the EdTech sector, Coursera reported a 15% increase in total revenue compared to the previous year.

    However, despite this growth, lower-than-expected revenue forecasts for the second quarter sent shares lower.

    The Pay and Be Paid segment was active with earnings, as the pillar sank 1.9%

    As noted in our coverage this past week, Mastercard said in its most recent earnings report that worldwide gross dollar volume (GDV) increased by 10% year over year to $2.3 trillion. In the U.S., GDV increased by 6% to $712 billion with credit growth of 6% with credit growth of 12% and debit growth of 13%. Overall, cross-border volume increased 18% globally.

    CEO Michael Miebach said that in terms of macroeconomic trends, the picture remains “mixed.” Solid wage growth is supporting healthy consumer spending, and inflation has been moderating. But rate cuts in the U.S. have been delayed. Mastercard is “monitoring … consumer balance sheet health.”

    Mastercard shares were 3.9% lower through the week.

    Visa shares were 2.2% lower. As reported here, Reem Finance, a financial services provider in the United Arab Emirates (UAE), has partnered with Visa to expand its offering of digital payment solutions.

    Block shares slipped 6.7%.  During the company’s most recent earnings results, the company’s $200 million investment in bitcoin grew by around 160% and stood at $573 million at the quarter’s end.

    Square alone processed $50.5 billion in gross payment volume for the quarter, a 9% jump year over year.

    The Cash App Card reached 24 million monthly actives, up 16% YoY, while Cash App Pay continued to grow during the quarter, with volume up more than 40% QoQ.

    Tigers unveil City Connect uniform

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    Tigers unveil City Connect uniform

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    Welcome to the #MotorCity.

    — Detroit Tigers (@tigers) May 6, 2024

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    2:37 PM UTC

    DETROIT — The Tigers shied away from baseball’s trend of myriad alternate jerseys for years, sticking with their traditional home whites and road grays with the Olde English D. Fittingly, their jump into baseball’s City Connect series is both a tribute to Detroit’s rich history and a nod to the city’s promising future.

    The Tigers’ twist on the Motor City theme, unveiled Monday morning, is forward with form, progressive with a purpose, a break from their whites and grays but not a break from their heritage. From a mix of dark navy and electric blue colors to a shoulder patch that simultaneously salutes one of Detroit’s famous roads and the famed 313 area code, the jerseys — which spent over a year in design — make a statement on the Tigers’ home while still honoring traditions of one of the American League’s charter franchises.

    The Tigers will debut the new uniforms on Friday for the opening of a three-game weekend series against the Astros at Comerica Park. They’ll wear them again on Saturday.

    “The City Connect uniforms represent Detroit’s unique combination of muscle and innovation and pay homage to the city that put the world on wheels,” Ilitch Sports + Entertainment president/CEO Ryan Gustafson said in a release. “From the tire treads to the VIN tag to the M-1 patch on the sleeve, there are unique features on the uniforms, caps and batting helmets we feel Tigers fans and Detroiters will appreciate. Above all, the uniforms are symbolic of the revitalization and exciting future ahead for the Tigers and our great city.”

    Much like the Astros’ Space City jerseys released a couple years ago, the Tigers’ City Connects honor their hometown nickname on the front. The dark navy jerseys feature an electric blue — a brighter, more intense shade — treading across the front beneath the white Motor City lettering. A racing stripe adorns the bottom of both sleeves as well as down the side of the navy blue pants. The shoulder patch recreates the diamond-shaped M-1 road sign synonymous with Woodward Avenue, which passes just outside Comerica Park — the stadium address is 2100 Woodward Avenue — and runs from downtown Detroit north and west to Pontiac. Put the patch in a different light, however, and the 1 becomes the center digit in a 313 logo.

    While the navy blue cap and electric blue batting helmet both read DETROIT across the front, on the right side is a string of digits meant to read like a Vehicle Identification Number but signifying milestone seasons in the Tigers’ history: 1901 (the Tigers’ inaugural season in the American League), 35, 45, 68 and 84 (the club’s World Series title years). The VIN is also printed on the inside of the jersey collar.

    The traditional Tiger logo still shows up, even if its usual orange color does not. A bright blue set of Tiger eyes adorns the inside of the cap brim as well as the beltline on the right side of the jersey.

    The jersey’s debut Friday will mark just the first regular-season game in which the Tigers have worn blue jerseys since 1995, when they wore blue alternates for one game only. They actually had all-blue road jerseys in 1905-06, Ty Cobb’s first two seasons.

    The Tigers will celebrate the City Connect debut with a block party outside Comerica Park, featuring live music, local food trucks, mural artists, a kids zone, classic car show and merchandise outlets with City Connect gear. The block party runs from 4-7 p.m. ET on Friday, and from noon to 6:30 p.m. on Saturday.

    SpaceX Unveils New Spacesuits for Historic Private Astronaut Spacewalk

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    SpaceX is preparing to launch a private crew of astronauts on a five day journey through Earth orbit, and they will be the first to try on the company’s latest spacesuit design during a first-of-its-kind spacewalk.

    In an update shared on May 4, SpaceX revealed the design of its long-awaited extravehicular activity (EVA) suit. The new spacesuits will be worn by the Polaris Dawn crew during a series of private astronaut missions backed by billionaire Jared Isaacman. The first of the program’s three missions is scheduled to launch no earlier than this summer.

    The five-day mission will launch SpaceX’s Dragon spacecraft into an elliptical orbit around Earth, from where the private astronauts will collect data and conduct various research and experiments. One of the main highlights of the upcoming mission is the plan to perform the first ever commercial astronaut spacewalk, which will also be the first to occur from the Dragon spacecraft.

    Polaris Dawn astronauts showing off the new spacewalking spacesuits.
    Photo: Polaris Program

    Reports suggest that SpaceX may have struggled during the design process of the new EVA suits. Polaris Dawn was originally scheduled to launch in the fourth quarter of 2022, but has suffered numerous delays. The delays were likely due in large part to the design of the new spacesuits; sources told SpaceNews in February that SpaceX had significantly underestimated the amount of work needed to convert its pressurized suit design to an EVA suit.

    Earlier in January, SpaceX CEO Elon Musk said in a presentation, “We’ve got to redesign the suit so that you actually move around in it. It’s quite hard to still be mobile in an inflated suit.” The company may have finally figured it out.

    A view of the astronauts inside SpaceX’s Crew Dragon.

    A view of the astronauts inside SpaceX’s Crew Dragon.
    Photo: Polaris Program

    SpaceX’s new spacesuits are an evolutionary design of the company’s astronaut suits currently worn by the Dragon crews with added features to support the extravehicular activities. “Developed with mobility in mind, SpaceX teams incorporated new materials, fabrication processes, and novel joint designs to provide greater flexibility to astronauts in pressurized scenarios while retaining comfort for unpressurized scenarios,” SpaceX wrote.

    The EVA suit’s 3D-printed helmet now has a visor to reduce the glare from the Sun while astronauts are outside of the space station, as well as a new Heads-Up Display (HUD) and camera to provide information on the suit’s pressure, temperature, and relative humidity, according to SpaceX. The new suit design also has seals and pressure valves to help ensure it remains pressurized throughout the spacewalk.

    The new suits also have a scalable design that can be adjusted to different body types as part of SpaceX’s efforts to increase people’s accessibility to space. SpaceX also built the new suits with the Moon and Mars in mind, hoping to be able to use its new designs as part of the company’s greater vision (and SpaceX CEO’s obsession) of colonizing the Red Planet in the future.

    For more spaceflight in your life, follow us on X and bookmark Gizmodo’s dedicated Spaceflight page.

    Howard Schultz wants Starbucks to fix its American business

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    Graeme Sloan/Sipa USA/AP/File

    Howard Schultz, Starbucks’ former CEO, in a 2023 photo.


    New York
    CNN
     — 

    Former Starbucks CEO Howard Schultz might have left the coffee giant several months ago, but he’s still offering critiques of the company he ran for about 25 years over three stints.

    Following the release of Starbucks’ dismal earnings, Schultz wrote on his LinkedIn account that he was asked by “people inside and outside the company” about his thoughts that the chain’s US operations are the “primary reason for the company’s fall from grace” and encouraged executives to spend more time with its cafe employees.

    “The stores require a maniacal focus on the customer experience, through the eyes of a merchant. The answer does not lie in data, but in the stores,” Schultz wrote.

    He suggested that Starbucks “reinvent” the app’s mobile ordering and payment to “once again make it the uplifting experience it was designed to be.”

    He also perhaps took a slight dig at Starbucks’ current offerings — like its new lineup of spicy drinks — and said its strategy needs to be “elevated with coffee-forward innovation that inspires partners, and creates differentiation in the marketplace, reinforcing the company’s premium position.”

    Schultz stepped down from Starbucks’ board of directors last September as part of a phased transition of his exit that culminated in March 2023 when he left his position of CEO for the third time. He remains one of Starbucks’ largest shareholders.

    Laxman Narasimhan, Starbucks’ current CEO who Schultz helped pick, reported a “disappointing” quarter in its second-quarter earnings last week. The company experienced a decline in same-store sales for the first time since 2020 and slashed its full-year sales outlook.

    Same-store sales in the United States fell 3%, a sharp reversal from the same quarter a year ago, when they grew 12%. In China, the chain’s second-largest market, sales fell a staggering 11%.

    Shares of Starbucks (SBUX) are down more than 20% for the year.

    Narasimhan vowed to turn the business around by including an update to its app and mobile and payment offerings, improving service times and rolling out revamped menu items to lure customers back.

    Schultz, in his letter, admitted he “experienced some quarters of financial disappointment” during his tenure. He said “there must be contrition and renewed focus and discipline on the core” for any company that misses badly.

    “Starbucks will recover—of that, I am certain. Starbucks created an industry that did not exist,” he said. “The brand is incredibly resilient, but it’s clearly not business as usual.”

    Schultz did not mention the company’s ongoing negotiations with the Starbucks workers union or its case against the National Labor Relations Board in the Supreme Court.

    This is 2024’s new political normal six months from the election

    0



    CNN
     — 

    Donald Trump, the Republican presumptive nominee who just falsely accused his opponents of running a “Gestapo” administration, will be back in a New York courtroom on Monday at his criminal trial — the first of an ex-president in history.

    The White House, meanwhile, is trying to defuse the impact of campus protests over Israel’s assault on Gaza, as some Democrats warn images of unrest could boost Trump and fear the issue could buckle President Joe Biden’s coalition.

    This all comes as Republican House Speaker Mike Johnson faces a likely vote this week over his ouster in a fresh sign of GOP disarray fomented by Georgia Rep. Marjorie Taylor Greene. He will need Democrats to save him.

    It’s just another normal week in American politics as unpredictable forces rock both parties and augur a tense run to an election — now six months less one day away — that could fundamentally change the nation.

    Trump faces another week in the Manhattan courtroom where he is on trial over the alleged falsification of business records to cover up an affair with adult film actress Story Daniels. Prosecutors argue he attempted a cover-up to mislead voters in 2016 in an early act of election interference. Trump denies the affair and has pleaded not guilty — to this and to three other criminal indictments.

    Given the former president’s frequent attacks on witnesses, which last week cost him $9,000 over violations of gag orders, prosecutors are keeping witness lists under wraps. But in dramatic testimony last week, former White House communications director Hope Hicks took the stand under a prosecution subpoena. In potentially the most significant moment of the trial so far, a nervous Hicks, who shed tears at one point, appeared to implicate Trump in a way that played into the prosecution argument when she said that the ex-president admitted to her that he knew his then-fixer Michael Cohen had paid Daniels. She also said that Trump felt it was better to deal with the story after the election than beforehand. But Trump’s lawyer, Emil Bove, extracted a statement under cross-examination that could be useful to bolstering the core defense argument when Hicks said her boss was worried about the Daniels story because it could hurt or embarrass members of his family.

    Another critical twist of the trial will arrive with the expected testimony of Cohen, Trump’s former lawyer who served time in prison for tax fraud, making false statements to Congress and violating campaign finance laws.

    As the trial continues, Trump’s mood is becoming testy. He’s offering new glimpses of the extremism that could drive his second term and is already posing a fresh challenge to American democracy, following his departure from office in disgrace in 2021 after trying to steal the last election based on false claims of fraud.

    At a private luncheon at his Mar-a-Lago club on Saturday, he accused Democrats of “running a Gestapo administration,” according to three attendees, equating the Biden team with the Nazi Secret Police who rounded up and committed genocide against Jews in the Holocaust.

    Trump continually repeats his charge that his indictments are a result of a Democratic plot. But there is no evidence to support this. His comments about the Gestapo do not only betray historical ignorance but also underscore how there is no limit to the ex-president’s use of inflammatory rhetoric to try to win the election. Last week, in an interview with the Milwaukee Journal Sentinel, Trump refused to guarantee he’d accept the result of the next election. And in an interview with Time magazine published last week, he said violence was possible depending on the “fairness” of the election.

    James Singer, a spokesperson for the Biden campaign, said Trump’s remarks at the fundraiser proved the danger of a potential second term the ex-president has said would focus on retribution. “Trump is once again making despicable and insulting comments about the Holocaust, while in the same breath attacking law enforcement, celebrating political violence, and threatening our democracy,” Singer said.

    Democrats face another week dealing with the political consequences of campus protests over Israel’s war in Gaza.

    A wave of protests at campuses over the civilian carnage in the enclave has emerged as a severe test for Biden’s appeal among progressive and young voters whom he needs to help him to beat Trump in November.

    After days of building political pressure, the president addressed the situation for the first time on camera last Thursday, saying that the right to protest was a vital American freedom but that it was not acceptable when demonstrations turn violent. He condemned antisemitic incidents that have been reported against some Jewish students and he said he wasn’t rethinking his staunch support for Israel in the wake of the October 7 terror attacks — despite his frequently ignored calls on the government of Prime Minister Benjamin Netanyahu to do more to protect civilians in Gaza.

    Trump and Republicans have seized on the protests — and police operations to clear them at some schools — to underscore their narrative that the country is spinning out of control under Biden and that Trump could restore law and order.

    But speaking on CNN’s “State of the Union” Sunday, the Biden campaign’s national co-chair Mitch Landrieu pushed back on an analogy by Sen. Bernie Sanders, who likened the current protests to the anti-Vietnam war sentiment in 1968 that caused then-President Lyndon Johnson to abandon his reelection bid. Landrieu said the Independent senator from Vermont’s view was an “over exaggeration.” He added: “This is a very different circumstance. I think that people who actually lived through that very difficult time; they would say that this isn’t comparable. However, that is not to say that this is not a very serious matter.”

    Some Democrats have downplayed the impact of the protests, citing polling that suggests that the war in Gaza is well down the list of concerns for most young voters, notwithstanding the dramatic scenes at many colleges. But Democratic Sen. John Fetterman of Pennsylvania, a staunch supporter of Israel during the conflict, warned that pro-Palestinian demonstrators could help Trump in November. “Like if they want to throw Michigan to Trump that way — well, if you want to play with that fire … you better own that fire,” said Fetterman, referring to a swing state where Arab Americans form an important part of the Democratic electorate. He also warned against liberal voters deserting Biden because of his stance on the war. “If you are willing to walk away or to actually vote for someone else, you are going to throw your vote away and you are on the Trump train and you better watch out for the wreck,” he said.

    But another leading Democrat, California Rep. Ro Khanna, said on CBS’ “Face the Nation” that a lot of the protests across the country were seeing a constructive dialogue. “We have to understand that this is a defining moment for this generation, similar to anti-Vietnam protests, anti-apartheid protests, anti-Iraq War protests,” he said. “They’re telling us that over 30,000 people have died. It’s time for this war to end. It’s time for the hostages to be released that Hamas has, and they want to see leadership in America and around the world.”

    In another significant political drama looming this week, Johnson is expected to survive a vote called by Greene to oust him and throw the House GOP into yet more chaos. After Johnson pushed through Biden’s request for billions of dollars in funding for Ukraine last month, Democrats are likely to vote to save the speaker. But even if he survives, no Republican speaker wants to leave the impression that he is only in power because of the opposition party, and the Louisiana lawmaker’s long-term future remains cloudy.

    Many Republicans, even those cool on the rookie speaker, don’t want to see another governing farce unfold like the multi-vote ballot to choose Johnson’s predecessor, Kevin McCarthy, and the vote to oust — and then replace — the Californian last year.

    Right-wing extremists, taking advantage of the tiny GOP majority, have made the House all but ungovernable since the party took over after the 2022 midterm elections. But despite signs that Greene’s patron, Trump, has praised Johnson and is not enthusiastic about more chaos in the party that could complicate his and the GOP’s chances in the fall, she is vowing to push ahead after accusing Johnson of betraying Republican base voters.