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Why investors have targeted Macy’s for a takeover

Published Wed, 25 Dec 2024 06:48:04 GMT

By Nathaniel Meyersohn | CNNMacy’s has struggled for years against rising competition and shoppers migrating away from department stores. Now, a group of investors reportedly wants to take Macy’s private at a vulnerable moment for the famed company.Arkhouse Management, a real estate investment firm, and Brigade Capital Management, a global asset manager, submitted a bid to buy Macy’s for $21 a share, valuing Macy’s at $5.8 billion, the Wall Street Journal reported. The deal would pay shareholders a 32% premium above Macy’s closing price Friday.The takeover bid is a sign that investors believe Macy’s is undervalued on the public market. Retail analysts say Macy’s valuable real estate, including its flagship store in New York City, is a coveted asset to the investors.“Years of chronic underperformance has put downward pressure on Macy’s share price and means that the iconic department store chain is now a relatively attractive prospect,” Neil Saunders, an analyst at GlobalData Retail,...

Zelenskyy appears to change few minds on more Ukraine aid

Published Wed, 25 Dec 2024 06:48:04 GMT

By Lisa Mascaro and Stephen Groves | Associated PressWASHINGTON — His country’s future at stake, Ukrainian President Volodymyr Zelenskyy told senators Tuesday that with U.S. aid his fighters can beat back the Russian invasion. But with funding in doubt, his grim trip to Capitol Hill was far from the hero’s welcome he received last winter.Zelenskyy’s visit to Washington came as President Joe Biden’s request for an additional $110 billion U.S. aid package for Ukraine, Israel and other national security needs is at serious risk of collapse in Congress. Republicans are insisting on linking it to strict U.S.-Mexico border security changes that Democrats decry.Flanked by Democratic Majority Leader Chuck Schumer and Republican Minority Leader Mitch McConnell, Zelenskyy entered a private meeting with senators with a public bipartisan show of support and to some applause. But more than an hour later few senators minds appeared changed.Schumer called it a “very p...

Fired San Francisco banking engineer gets two years for cloud hack

Published Wed, 25 Dec 2024 06:48:04 GMT

By Robert Burnson | BloombergA former First Republic Bank cloud engineer in San Francisco was sentenced to two years in prison for vandalizing the company’s computer network after he was fired in 2020.Miklos Daniel Brody logged into the bank’s network without authorization, using his company-issued laptop, which he had failed to return, on the evening he was fired after the company accused him of having pornography on his computer, according to court records.Later that day and into the next, “Brody deleted the bank’s code repositories, ran a malicious script to delete logs, left taunts within the bank’s code for former colleagues, and impersonated other bank employees by opening sessions in their names,” in addition to downloading proprietary bank code, according to a statement Monday by the US attorney’s office in San Francisco.Related ArticlesCrime and Public Safety | East Bay hit-and-run victim from January dies; police seeking harsher charge against suspect Crime...

Space Force missile launch visible across Bay Area: video

Published Wed, 25 Dec 2024 06:48:04 GMT

(KRON) -- Is it a bird? A plane? An unidentified flying object? Not exactly.A streaking object moving through the sky early Monday morning that was visible from a park in Livermore turned out to be a United States Space Force missile launch from Vandenberg Space Force Base near Santa Barbara. Workers at Oakland coffee shop at center of antisemitic graffiti incident slam owners The missile, an FTG-12 ground-based interceptor, launched shortly after 6:30 a.m. Monday. The missile was launched by Space Launch Delta 30 Guardians, Airmen and the U.S. Missile Defense Agency, according to a news release from Space Force.In video sent to KRON4 from a viewer in Livermore (watch in the player above) the launch could be seen from the sidewalk adjacent to a local park.Missile launch as seen from Foster City. (Photo: Crystal Spike)Another viewer photo sent to KRON4 showed that the launch could also be seen from the North Bay."The test demonstrated the ability of the GMD's capability to engage t...

Arrest warrant issued for Chinese exchange student who trespassed at Steph Curry's house

Published Wed, 25 Dec 2024 06:48:04 GMT

(KRON) -- An arrest warrant has been issued for an international exchange student from China who allegedly trespassed at Stephen Curry's Atherton home, according to the San Mateo County District Attorney's Office. According to the DA, the student, identified as Sheng Gao, an 18-year-old resident of Cupertino, took a bus to Atherton on Oct. 15.The student, the DA said, was looking for the home of the Golden State Warriors star in order to get an autograph. A middle-aged woman pointed out to the student which house was the Curry home.At around 5:50 p.m., Gao walked up to the property gate and pushed both the "call" and the "ring" button. The gate opened and Gao walked in and up to the front door. Space Force missile launch visible from Livermore: video Steph Curry and his wife Ayesha Curry were not home at the time, the DA said. However, the couple's children and a nanny were. The front door of the home was unlocked, according to the DA, and Gao went inside.It was then that the nann...

Congress Is Pushing Revolutionary Research on Psychedelic Treatments for the Military

Published Wed, 25 Dec 2024 06:48:04 GMT

Congress is on track to approve legislation that would mark a significant advance in U.S. policy toward psychedelics. Tucked into the National Defense Authorization Act of 2024 is a provision to fund clinical trials using psychedelic substances to treat active duty members of the military.Section 723 of the NDAA directs the secretary of defense to partner with a federal or state government agency, or an academic institution, to carry out the research. The bill would fund the treatment of members of the military with post-traumatic stress or a traumatic brain injury with a number of psychedelic substances, including MDMA, psilocybin, ibogaine, DMT, and other plant-based alternative therapies (such as ayahuasca).Research surrounding psychedelics as a possible treatment for post-traumatic stress disorder have slowly grown, and recent studies have shown promising results, with patients benefiting from even just a few treatments including MDMA and psilocybin. Already, the Food and D...

DC installs car emissions test site in Kenilworth Park, National Park Service says it’s not allowed

Published Wed, 25 Dec 2024 06:48:04 GMT

The District recently installed a self-service car emissions testing site in Kenilworth Park in Northeast. But the facility will never open. (WTOP/Neal Augenstein) The District recently installed a self-service car emissions testing site in Kenilworth Park in Northeast. But the facility will never open. (WTOP/Neal Augenstein) The District recently installed a self-service car emissions testing site in Kenilworth Park in Northeast. But the facility will never open.The U.S. Park Service said the District didn’t have the authority or permission to build the site on federal park property.Built just off Anacostia Avenue near 42nd Street in Ward 7, the emissions site remains closed, and will never perform a biannu...

Far-right lawmaker extinguishes Hanukkah candles in Polish parliament

Published Wed, 25 Dec 2024 06:48:04 GMT

WARSAW, Poland (AP) — A far-right lawmaker in the Polish parliament used a fire extinguisher on Tuesday and put out the burning candles on a menorah that were lit for the Jewish holiday of Hanukkah.All major political forces quickly denounced the unprecedented incident carried out by Grzegorz Braun, one of the most controversial lawmakers in the current parliament, and said there would be no tolerance for antisemitic and xenophobic behavior in the parliament.Braun, a pro-Russian member of the Confederation party, has in the past falsely claimed that there is a plot to turn Poland into a “Jewish state” and has called for homosexuality to be criminalized.The speaker of the parliament, Szymon Holownia, called the act “absolutely scandalous” and excluded Braun from the day’s parliamentary session, expressing hopes that “he will not return soon.” He said he was reporting him to prosecutors. The parliament also slapped the highest possible financial penalty on Braun, forcing h...

CNBC: Tres formas de reducir la factura del supermercado de la mano de una experta

Published Wed, 25 Dec 2024 06:48:04 GMT

Jasmine Taylor sabe un par de cosas sobre cómo controlar un presupuesto.En enero de 2021, se encontró con $60,000 en deudas estudiantiles y otros $9,000 en deudas médicas y de tarjetas de crédito. Prometiendo poner sus finanzas en orden, recurrió a YouTube y encontró el “relleno de efectivo”, una estrategia de administración del dinero en la que los responsables del presupuesto dividen sus gastos utilizando efectivo físico.En su primer año de elaboración del presupuesto, Taylor pagó $23,000 en préstamos estudiantiles y canceló sus otras deudas. Dejó intactos $20,000 en préstamos estudiantiles durante un tiempo en caso de que se condonara, pero desde entonces ha vuelto a pagar y está en camino de cancelar su deuda para fin de año. Documentó su recorrido presupuestario en TikTok y pronto descubrió que sus publicaciones se volvían virales.Hoy en día, Taylor dirige su propio negocio de almacenamiento de efectivo, Baddies and Budgets, a través del cual vende suministros para ...

Zelenskyy visits Capitol Hill and the White House with US aid for Ukraine at risk of collapse

Published Wed, 25 Dec 2024 06:48:04 GMT

WASHINGTON (AP) — His country’s future at stake, Ukrainian President Volodymyr Zelenskyy used inspirational words, resolve and a nod to Christmas in appealing Tuesday to leaders in Congress for U.S. aid for his fighters in the war with Russia. But as he then headed to the White House, additional American support was in grave doubt.Zelenskyy’s visit to Washington came at a grim time, much changed from the hero’s welcome he received last year. President Joe Biden’s request for an additional $110 billion U.S. aid package for Ukraine, Israel and other national security needs is at serious risk of collapse in Congress as Republicans are insisting on linking it to strict U.S.-Mexico border security changes that Democrats decry.Flanked by Democratic Majority Leader Chuck Schumer and Republican Minority Leader Mitch McConnell, Zelenskyy entered a private meeting with senators with a public bipartisan show of support and to some applause. But more than an hour later f...