Author: Press Room

Sharpton to deliver eulogyThe Rev. Al Sharpton, who leads the National Action Network civil rights group, will deliver the eulogy, according to a news release about the funeral services. Sharpton is the host of MSNBC’s “PoliticsNation.”Two men say one of the Memphis police officers accused of killing Tyre Nichols pulled a gun on them MEMPHIS, Tenn. — Two residents of this still-stunned city told NBC News that one of the former police officers charged with murdering 29-year-old Tyre Nichols pulled a gun on them three years ago and threatened to shoot them both in the face.Glenn Harris, 24, and Demarius Hervey, 27,…

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Bed Bath and Beyond is closing another 87 stores as the struggling retailer barrels toward bankruptcy. These closures are in addition to the 150 closures Bed Bath and Beyond announced last August. Included in the new list are 5 buybuy Baby locations and all 49 remaining Harmon Face Value stores, which sold cosmetics, plus several of the retailer’s flagship-brand stores across the country. “As we continue to work with our advisors to consider multiple paths, we are implementing actions to manage our business as efficiently as possible,” a Bed Bath and Beyond spokesperson told CNN. “This store fleet reduction expands…

Brody Longo works out on his Peloton exercise bike on April 16, 2021 in Brick, New Jersey.Michael Loccisano | Getty ImagesPeloton said Wednesday its net loss narrowed year over year, and, for the third quarter in a row, subscriptions revenue was higher than sales of the company’s connected fitness products.CEO Barry McCarthy called the results a possible “turning point” for the business, which has spent much of the past year executing an aggressive turnaround strategy. The fitness equipment company’s fiscal second quarter revenue beat Wall Street’s expectations, but the company posted wider losses per share than expected. Peloton’s stock jumped about 7%…

CNN  —  Republican lawmakers slammed President Joe Biden’s border policies on Wednesday and laid the groundwork for an impeachment case against Homeland Security Secretary Alejandro Mayorkas in the first of a series of hearings on immigration since seizing control of the House. Over the course of Biden’s presidency, Republicans have repeatedly criticized the administration over the handling of the US-Mexico border, where an influx of migrants has stretched federal resources. Critics argue the historic number of arrests is evidence of Biden’s policies not working despite the administration largely using the same protocols as the Trump administration, principally a Covid-era border…

The Biden administration is beginning 2023 to renew its push to get a sweeping immigration bill through Congress that it introduced two years ago when it first entered office — but that still shows no sign of picking up any Republican support due to its inclusion of an amnesty for millions of illegal immigrants.”On my first day in office… I sent Congress a comprehensive piece of legislation that would completely overhaul what has been a broken immigration system for a long time: cracking down on illegal immigration; strengthening legal immigration; and protecting DREAMers, those with temporary protected status, and farmworkers,…

China’s Science Ministry on Monday announced that the country’s first practical quantum computer was delivered to a user, which the agency didn’t identify, a year ago. The 24-qubit Wuyan system based on superconducting technology was built by Origin Quantum Computing Technology, a company founded in 2017 by two of the country’s leading quantum physicists, Guo Guoping and Guo Guangcan. A qubit in the quantum world performs functions akin to bits in the digital world. With the on-premises installation of the Wuyan system, China became the third country, after Canada and the United States, to deliver a complete quantum computer system…

The transatlantic battle of green tax credits reached a turning point this week when a leaked document revealed the EU was planning to hit back hard against the US’s $369bn Inflation Reduction Act.Under a draft plan seen by the Financial Times, the European Commission outlined it intention to relax state-aid rules to try to stop nascent green industries from decamping to the US. This marks an important shift from the long-held EU view that protectionism was taboo. In other big news, the Adani Group pulled off a $2.4bn equity sale despite an explosive New York-based short-seller’s report alleging fraud at…

Gautam Adani looks set to cede his position as Asia’s richest man to another Indian billionaire as shares in his business empire continue to plunge following fraud allegations leveled by an American short seller. In an investigation published last Tuesday, Hindenburg Research accused Adani’s ports-to-power group of “brazen stock manipulation and accounting fraud scheme over the course of decades.” Adani Group denounced the report as “baseless” and “malicious,” and has said it is considering legal action, but the market reaction has been brutal and relentless. The conglomerate, which has seven listed companies, has lost more than $90 billion in market…

Federal Reserve Board Chairman Jerome Powell holds a news conference following the announcement that the Federal Reserve raised interest rates by half a percentage point, at the Federal Reserve Building in Washington, U.S., December 14, 2022.Evelyn Hockstein | ReutersThis week’s Federal Reserve meeting will be remembered more for what policymakers say than what they do.That’s because markets have priced in a near-100% certainty — 98.9% to be exact, as of Tuesday afternoon — that the Federal Open Market Committee will announce a 0.25 percentage point interest rate increase when the two-day policy meeting wraps up Wednesday afternoon, according to CME…