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Friday, May 23, 2025
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Breaking the chains of generational violence
423 Chain Breakers choose mentorship path
Like a photograph capturing a cold-blooded murder, Baker 3 offered a freeze-frame of relentless violence. Year after year, the streets of East Chattanooga, Avondale and Bushtown recorded the highest number of homicides in the city – many victims meeting their fates in the very neighborhoods they called home.
Guarding the Gate
From Juvenile Court to public relations, Robin Derryberry protects those she serves
Early in her public relations career, when Robin Derryberry and her team orchestrated the grand opening celebration at the new Krispy Kreme store in Franklin, Tennessee, a few lucky drive-thru customers got an extra treat: a surprise serenade from country superstar Vince Gill.
Dr. Lori Mann Bruce named new UTC chancellor
Dr. Lori Mann Bruce has been appointed the next chancellor of the University of Tennessee at Chattanooga (UTC), following approval by the University of Tennessee board of trustees during a special session held May 16. Her appointment, recommended by UT System President Randy Boyd, will officially begin June 30.
Newsmakers: Furth appointed to lead parks department
April Furth has been appointed as the new administrator for the city’s Parks & Outdoors Department by Mayor Tim Kelly. She will begin her role June 13. Furth comes to Chattanooga from Vancouver, Washington, where she most recently served as director of community development for Clark County. Her background includes leadership roles in operational management and customer service in the retail sector.
Newsbriefs: Principals call for increased school funding
In a direct appeal to local elected leaders, the Hamilton County Principal Association is urging the Hamilton County Commission and Chattanooga City Council to increase local funding for public schools, warning that current budget constraints are forcing cuts that will directly affect students and educators.
Curbed Construction breaks ground on Belvoir cottage-style community
Curbed Construction has broken ground on a new residential development in the Belvoir neighborhood of Chattanooga, marking the latest step in MiKen Development’s expansion into the city’s growing housing market. The project, located at 3629 Fountain Avenue, will bring 14 single-family, cottage-style homes to the area, each of which will feature three bedrooms and range from 1,400 to 1,750 square feet.
East Hamilton memory care facility nears opening
A new memory care community in East Hamilton is preparing to welcome its first residents as Morning Pointe Senior Living completes the second phase of its senior living campus. The Lantern at Morning Pointe Alzheimer’s Center of Excellence – East Hamilton, located at 1775 Generations Way, will provide care for individuals living with Alzheimer’s disease and other forms of dementia. The facility is adjacent to Morning Pointe of East Hamilton, which already houses a memory care wing.
Sheriff’s office reports 4% crime reduction in 2024 review
The Hamilton County Sheriff’s Office (HCSO) reports a 4% overall decrease in crime across the county in its 2024 annual statistical review, with significant fluctuations in key categories such as burglary, assault and drug-related offenses. The report outlines the agency’s performance in its core operational areas: law enforcement services, corrections services and administrative services. According to the data, HCSO deputies responded to 78,929 calls for service and deputy-initiated activities across the county in 2024.
Chattanooga housing market showing some pricing resilience
The market never stays still. Looking at the latest numbers from April, both across the country and here in Greater Chattanooga, we’re seeing a mix of challenges and opportunities emerge. Shifts in inventory, pricing and buyer activity continue to shape the conversations we’re having every day with our clients. Now more than ever, understanding these patterns is critical to navigating a market that’s adjusting to new realities.
Financial Focus: Observe Save for Education Day with a 529 plan
Whether your children are in grade school or high school, they’ll be leaving for college or trade school before you know it. With the cost of education rising, now is the time to prepare for that day. Starting to invest when your child is born is often a great way to build a strong financial future. Even if your children are older, you can still make progress and potentially reap tax benefits by contributing to a 529 education savings plan. Contributions are made with after-tax dollars, accumulate with no federal income tax and can be withdrawn for qualified education expenses federally tax free.
Untangle your approaches with this new set of reads
Business is complicated these days, isn’t it? You wear a lot of hats, no matter where you sit in the company hierarchy or where you want to be, and you have a lot of people you need to keep happy. That includes yourself, so take a look at these great books to make your work life a little easier…
Naan House makes Indian street food taste like home
Word on the street (actually, word in an air-conditioned business set a few hundred feet back from East Main Street) is that Michelin Guide inspectors recently passed through Chattanooga and might soon have something to say. My top-secret source (actually, a Realtor and local foodie) and I were chewing over the hearsay when I suggested Michelin probably didn’t visit the kinds of places I enjoy the most: the “mom and pops” that lack the fancy trimmings but know how to put together an incredible meal.
Hyundai, Tesla SUV models continue to evolve, improve
The Tesla Model Y and the Hyundai Ioniq 5 are two of the hottest electric SUVs on the market. Adding to their appeal, both SUVs were recently updated. The 2026 Model Y has new styling, higher-quality interior materials and a smoother ride quality. Changes to the 2025 Hyundai Ioniq 5 aren’t as dramatic, but you do get more range, easier-to-use controls and new ways to charge. Which recently updated electric SUV is the better buy? Edmunds’ experts compare them to find out.
Tennessee man is executed for killing his wife and her 2 sons, 3 years after last-minute reprieve
NASHVILLE, Tenn. (AP) — Tennessee inmate Oscar Smith was executed by lethal injection on Thursday morning for the 1989 murders of his estranged wife, Judith Smith, and her teenage sons, Jason and Chad Burnett. Smith was pronounced dead at 10:47 a.m. after a lethal injection of the barbiturate pentobarbital. The 75-year-old had maintained his innocence. In a lengthy final statement, he railed against the justice system, saying it "doesn't work," echoing sentiments expressed in a recent interview with The Associated Press.
The Latest: Administration bars Harvard from enrolling foreign students, says thousands must transfer
The Trump administration revoked Harvard University's ability to enroll international students in its escalating battle with the Ivy League school, saying thousands of current students must transfer to other schools or leave the country. The Department of Homeland Security said the university allowed "anti-American, pro-terrorist agitators" to assault Jewish students on campus and claimed without evidence that Harvard is coordinating with the Chinese communist party.
Friday Morning Markets: World stocks mixed, oil prices slip after Treasury yields ease
HONG KONG (AP) — World shares were mixed on Friday as U.S. Treasury yields eased after a rocky week due to worries in the bond market over mounting U.S. government debt. The yield of the 10-year Treasury shed 0.8% to 4.52% while the two-year yield, which more closely tracks expectations for action by the Federal Reserve, slipped 0.3% to 3.99%.
Trump threatens 25% import tax on Apple unless iPhones are made in the US
WASHINGTON (AP) — President Donald Trump on Friday threatened to put a 25% tariff on Apple products unless iPhones are manufactured in the United States. The threat delivered over social media could dramatically increase the price of iPhones, potentially hurting sales and the profits of one of America's leading technology companies. The company now joins Amazon, Walmart and other major companies as being in the White House's crosshairs as they try to respond to the uncertainty and inflationary pressures unleashed by the import taxes being imposed by Trump.
'Investment, not tariffs,' says Ishiba after telephone talks with Trump before 3rd round of talks
TOKYO (AP) — Japan's Prime Minister Shigeru Ishiba said Friday that he held telephone talks with U.S. President Donald Trump and agreed to hold "productive" discussions at an upcoming tariff talks between the two sides. "Investment, not tariffs," Ishiba told reporters after the talks. He said Japan's position to keep pushing Washington to drop all recent tariff measures is unchanged and that he stands by plans to push for Japanese investment to create more jobs in the U.S. in exchange.
Iran and US hold a fifth round of nuclear negotiations in Rome with enrichment a key issue
ROME (AP) — Iran and the United States began a fifth round of negotiations over Tehran's rapidly advancing nuclear program Friday in Rome, with enrichment emerging as the key issue. U.S. officials up to President Donald Trump insist Iran cannot continue to enrich uranium at all in any deal that could see sanctions lifted on Tehran's struggling economy. Iran's Foreign Minister Abbas Araghchi early Friday insisted online that no enrichment would mean "we do NOT have a deal."
Homeowners choose to renovate, repair due to economic uncertainty
LOS ANGELES (AP) — U.S. homeowners are spending more on home renovation projects, bucking a broader pullback by consumers amid diminished confidence in the economy. Sales at building materials and garden supply retailers rose 0.8% last month from March, the biggest gain since 2022, and were up 3.2% from April last year. At the same time, U.S. retail sales overall rose 0.1%, a sharp slowdown from March.
Trump signs executive orders to boost nuclear power, speed up approvals
WASHINGTON (AP) — President Donald Trump signed executive orders Friday intended to quadruple domestic production of nuclear power within the next 25 years, a goal experts say the United States is highly unlikely to reach. To speed up the development of nuclear power, the orders grant the U.S. energy secretary authority to approve advanced reactor designs and projects, taking authority away from the independent safety agency that has regulated the U.S. nuclear industry for five decades.
Japan's troubled automaker Nissan banks on hybrid EV technology
YOKOSUKA, Japan (AP) — Money-losing Japanese automaker Nissan is banking on its latest "e-Power" technology for a turnaround. A kind of hybrid, e-Power comes equipped with both an electric motor and gasoline engine, much like the Toyota Motor Corp. Prius. It's different from a Prius in that it doesn't switch back and forth between the motor and engine during the drive.
Study shows hurricane resilience programs paying off for homeowners, insurers
A new Alabama study of hurricane-affected homes sends a clear message to insurers and homeowners nationwide: climate-resilient construction methods can protect homes, and save a lot of money. The first-of-its-kind analysis, released this week, reviews thousands of insurance claims linked to Hurricane Sally, which struck Alabama's coast in 2020 with wind speeds up to 105 miles per hour. Homes retrofitted or built to Fortified standards, a voluntary construction code created by the nonprofit Insurance Institute for Building and Home Safety (IBHS) for wind and rain mitigation saw significantly fewer and less costly claims.
Trump says he'll delay a threatened 50% tariff on the European Union until July
WASHINGTON (AP) — President Donald Trump said Sunday that the U.S. will delay implementation of a 50% tariff on goods from the European Union from June 1 until July 9 to buy time for negotiations with the bloc. That agreement came after a call Sunday with Ursula von der Leyen, the president of the European Commission, who had told Trump that she "wants to get down to serious negotiations," according to the U.S. president's retelling.
Trump's immigration crackdown unnerves Cuban exiles long shielded from deportation
MIAMI (AP) — Immigration officials said Tomás Hernández worked in high-level posts for Cuba's foreign intelligence agency for decades before migrating to the United States to pursue the American dream. The 71-year-old was detained by federal agents outside his Miami-area home in March and accused of hiding his ties to Cuba's Communist Party when he obtained permanent residency.
Trump hints at an announcement in the 'next two days' on Iran nuclear talks
WASHINGTON (AP) — President Donald Trump on Sunday indicated there was progress with Iran on its nuclear program and hinted that an announcement could come in the "next two days." He was notably more upbeat than the Omani mediator of the talks between the United States and Iran, who said Friday that the two nations made "some but not conclusive" progress in the fifth round of negotiations in Rome.
King Charles III's visit to Canada underscores its sovereignty to Trump
OTTAWA, Ontario (AP) — King Charles III arrives in Ottawa on Monday, a visit that will underscore Canada's sovereignty to U.S. President Donald Trump. Trump's repeated suggestion that the U.S. annex its northern neighbor prompted Prime Minister Mark Carney to invite Charles to give the speech from the throne that will outline his government's agenda for the new Parliament.
Play ball! Things to know entering the NCAA baseball regionals
OMAHA, Neb. (AP) — The NCAA baseball tournament opens Friday with play in 16 double-elimination regionals. Regional winners advance to best-of-three super regionals next week, and the final eight go to the College World Series in Omaha, Nebraska, beginning June 13.
NPR sues Trump administration over executive order to cut federal funding to public media
NEW YORK (AP) — National Public Radio and three of its local stations filed a lawsuit Tuesday against President Donald Trump, arguing that an executive order aimed at cutting federal funding for the organization is illegal. The lawsuit, filed in federal court in Washington by NPR, Colorado Public Radio, Aspen Public Radio and KUTE, Inc. argues that Trump's executive order to slash public subsidies to PBS and NPR violates the First Amendment.
Supreme Court rejects appeal of Massachusetts student who wanted to wear 'only two genders' T-shirt
WASHINGTON (AP) — The Supreme Court on Tuesday rejected the appeal of a Massachusetts student who was barred from wearing a T-shirt to school proclaiming there are only two genders. The justices left in place a federal appeals court ruling that said it would not second-guess the decision of educators in Middleborough, Massachusetts, to not allow the T-shirt to be worn in a school environment because of a negative impact on transgender and gender-nonconforming students.
The Supreme Court rejects a plea to block a copper mine on land in Arizona that's sacred to Apaches
WASHINGTON (AP) — The Supreme Court on Tuesday rejected an appeal from Apaches who are fighting to halt a massive copper mining project on federal land in Arizona that they hold sacred. The justices left in place lower court decisions allowing the transfer of the Tonto National Forest land, known as Oak Flat, to Resolution Copper, which plans to mine what it says is the second-largest known copper deposit in the world.
A former aide says Sean 'Diddy' Combs kidnapped her in a plot to kill Kid Cudi
NEW YORK (AP) — A former top aide to Sean "Diddy" Combs testified Tuesday that the hip-hop mogul threatened to kill her on her first day on the job and kidnapped her at gunpoint as he sought to kill rapper Kid Cudi. Capricorn Clark's account of Combs' volatile, violent tendencies launched the third week of testimony at his sex trafficking trial in federal court in Manhattan.
US measles case count climbs slightly to 1,046 cases, while Indiana's outbreak ends
The U.S. saw a small increase in measles cases last week, an indicator that outbreaks are slowing down, though exposures at a busy airport in Colorado and a Shakira concert in New Jersey are keeping public health experts on their toes. The Centers for Disease Control and Prevention said Friday that there are 1,046 confirmed measles cases, up 22 from last week. Texas, where the nation's biggest outbreak raged during the late winter and spring, reported one additional case on Tuesday for a total of 729.
Dolly Parton leans on her faith after losing husband of nearly 60 years
NEW YORK (AP) — Dolly Parton's angelic voice floated throughout her first gospel album in 1971 with songs like "I Believe," "Lord Hold My Hand" and the album's title track, "Golden Streets of Glory." The entertainment icon says the same steadfast faith that inspired those hymns have anchored her throughout her grief following the death her husband, Carl Dean.
SEC's spring meetings: The future of college sports is in the balance at Florida resort
MIRAMAR BEACH, Fla. (AP) — Nothing less than the future of college sports is being hashed this week out in conference rooms spread throughout a sprawling seaside resort in Florida. These are the Southeastern Conference's annual spring meetings — a gathering of school presidents, athletic directors and coaches. It might be argued that the 2025 affair carries more weight than it ever has.
Judge refuses to toss states' lawsuit against Elon Musk and DOGE
WASHINGTON (AP) — A federal judge has refused to throw out a lawsuit that accuses billionaire Elon Musk and the Department of Government Efficiency of illegally accessing government data systems, canceling government contracts and firing federal employees.
Trump's campaign against law firms dealt another setback as judge blocks executive order
WASHINGTON (AP) — President Donald Trump's campaign against the legal profession hit another setback Tuesday as a federal judge struck down an executive order that sought to sanction one of the country's most prestigious law firms. The ruling in favor of WilmerHale marks the third time this month that a federal judge in Washington has deemed Trump's series of law firm executive orders to be unconstitutional and permanently barred their enforcement.
Get ready for several years of killer heat, top weather forecasters warn
WASHINGTON (AP) — Get ready for several years of even more record-breaking heat that pushes Earth to more deadly, fiery and uncomfortable extremes, two of the world's top weather agencies forecast. There's an 80% chance the world will break another annual temperature record in the next five years, and it's even more probable that the world will again exceed the international temperature threshold set 10 years ago, according to a five-year forecast released Wednesday by the World Meteorological Organization and the U.K. Meteorological Office.
Stellantis names Italian car executive Antonio Filosa its new CEO
MILAN (AP) — Stellantis, the world's fourth-largest carmaker, named Italian auto executive Antonio Filosa as its new chief executive officer Wednesday, replacing Carlos Tavares, who resigned under pressure last year. Filosa, who is currently Stellantis' chief operating officer for the Americas and chief quality officer, takes the post effective June 23, when he is expected to announce his leadership team.
United is narrowing its check-in window for US flights. Here's how it compares to other airlines
NEW YORK (AP) — Stragglers beware: U.S. travelers flying with United Airlines will have to check in to domestic flights a little earlier starting next week. That is, if they're customers only taking carry-on bags. Effective June 3, United's "check-in cutoff" for most U.S. flights will be 45 minutes before departure. That's the same deadline United has for passengers checking luggage at the airport but 15 minutes earlier than the current one for people without bags to check.
US stops scheduling visa interviews for foreign students while it expands social media vetting
WASHINGTON (AP) — The State Department has halted the scheduling of new visa interviews for foreign students hoping to study in the U.S. while it prepares to expand the screening of their activity on social media, officials said. A U.S. official said Tuesday the suspension is intended to be temporary and does not apply to applicants who already had scheduled their visa interviews. The official spoke on condition of anonymity to discuss an internal administration document.
Tips for planning a wedding at a time of new tariffs
NEW YORK (AP) — Weddings in the United States are often dependent on goods imported from countries hit with new tariffs. Vendors and engaged couples are navigating higher prices and supply worries after President Donald Trump went to war over trade around the globe. Exports from dozens of countries, including major centers for goods such as cut flowers, wedding gowns and decorations, are now subject to extra taxes when they reach the U.S.
European companies cut costs, scale back investments in China as its economy slows
BEIJING (AP) — European companies are cutting costs and scaling back investment plans in China as its economy slows and fierce competition drives down prices, according to an annual survey released Wednesday. Their challenges reflect broader ones faced by a Chinese economy hobbled by a prolonged real estate crisis that has hurt consumer spending. Beijing also faces growing pushback from Europe and the United States over surging exports.
Macy's profit and sales slip and it cuts profit forecast for 2025, but tops Q1 expectations
NEW YORK (AP) — Macy's sales and profit slipped in its first quarter and the department store, citing more cautious customers and the impact that the U.S. trade war will have on the company and its shoppers, trimmed its profit forecast for 2025. However, the New York retailer which also owns upscale Bloomingdale's and the Bluemercury cosmetics chain, topped most performance expectations for the first three months of the year and maintained its sales forecast for the year.
Trump pardons a labor union leader on the eve of sentencing for failing to report gifts
WASHINGTON (AP) — A labor union leader who pleaded guilty to failing to report gifts from an advertising firm was pardoned by President Donald Trump on the eve of his sentencing hearing Wednesday, court records show. James Callahan, of Lindenhurst, New York, was general president of the International Union of Operating Engineers when he accepted — but failed to properly report — receiving at least $315,000 in tickets to sporting events and concerts and other amenities from a company that the union used to place ads.
Tate brothers face rape and trafficking charges in the UK
LONDON (AP) — Influencer brothers Andrew and Tristan Tate have been charged in Britain with rape and other crimes, prosecutors said Wednesday. The Crown Prosecution Service said a European arrest warrant was issued for the two last year and Romanian courts have issued an order to extradite the two to the U.K.
A new variant of COVID-19 may be driving up cases in some parts of the world, WHO says
COVID-19 cases are rising again as a new variant begins to circulate in some parts of the world. The World Health Organization said Wednesday the rise in cases is primarily in the eastern Mediterranean, Southeast Asia and western Pacific regions. Airport screening in the United States has detected the new variant in travelers arriving from those regions to destinations in California, Washington state, Virginia and New York.
Car maker Stellantis names a new CEO from within its ranks
MILAN (AP) — Stellantis, the maker of Jeep, Fiat and Ram vehicles, named a new chief executive officer Wednesday as the world's fourth-largest car manufacturer navigates the impact of U.S. tariffs, burgeoning competition from China and the transition to electric vehicles.
Fed minutes: Uncertainty 'elevated' as risks of higher inflation and unemployment rise
WASHINGTON (AP) — Federal Reserve officials agreed earlier this month to hold off on any interest-rate moves while they evaluated the impact of President Donald Trump's tariffs on inflation, unemployment, and the broader economy. According to minutes from their May 6-7 meeting, released Wednesday, "almost all" of the 19 officials that participate in the Fed's meetings on policy saw a risk that "inflation could prove to be more persistent than expected." The policymakers showed greater concerns about higher inflation than rising unemployment, the minutes showed, a key reason they left rates unchanged.
Macy's surprises in first quarter, but cuts profit outlook as tariff costs seep in
NEW YORK (AP) — Macy's sales and profit slipped in its first quarter and the department store, citing more cautious customers and the impact that a trade war launched by the U.S., trimmed its profit forecast for 2025. The New York retailer, however, topped most performance expectations for the first three months of the year and maintained its annual sales forecast.
217 days and counting: Trump's rules slow the release of migrant children to their families
WASHINGTON (AP) — Dressed in a pink pullover, the 17-year-old girl rested her head in her hands, weighing her bleak options from the empty room of an shelter in Poughkeepsie, New York. During a video call into an immigration courtroom in Manhattan, she listened as a lawyer explained to a judge how new regulations imposed by President Donald Trump's administration — for DNA testing, income verification and more — have hobbled efforts to reunite with her parents in the U.S. for more than 70 days.
Trump says he warned Netanyahu to hold off on an Iran strike to give US more time for nuclear talks
WASHINGTON (AP) — President Donald Trump said Wednesday he has told Israeli Prime Minister Benjamin Netanyahu to hold off on striking Iran to give the U.S. administration more time to push for a new nuclear deal with Tehran. "I told him this would be inappropriate to do right now because we're very close to a solution," Trump told reporters at the White House. "Now, that could change at any moment. It could change with a phone call. But right now, I think they want to make a deal. And, if we can make a deal, (it would) save a lot of lives."
Women's College World Series team-by-team breakdown
OKLAHOMA CITY (AP) — A team-by-team breakdown for each of the eight teams that will play in the Women's College World Series, starting Thursday at Devon Park in Oklahoma City. FLORIDA (48-15) OKLAHOMA CITY (AP) — Coach: Tim Walton (1148-315 in 23 years overall; 1,025-250 in 20 years at Florida).
Supreme Court backs Utah oil railroad expansion, endorsing limited version of key environmental law
WASHINGTON (AP) — The Supreme Court backed a multibillion-dollar oil railroad expansion in Utah on Thursday, endorsing a limited interpretation of a key environmental law. The unanimous decision comes after an appeal to the high court from backers of the project, which is aimed at quadrupling oil production in the remote area of sandstone and sagebrush. The backers said limiting the scope of environmental reviews under the National Environmental Policy Act would speed up development.
Ford recalls more than a million vehicles for software glitch that makes rearview camera unreliable
WASHINGTON (AP) — Ford is recalling more than a million vehicles due to a software issue that can cause the rearview camera to malfunction, increasing the chance of an accident, government auto regulators said. The software error, which Ford reported to the National Highway Traffic Safety Administration earlier this month, may cause the rearview camera image to delay, freeze or not display when the vehicle is in reverse.
Trump's push to save coal faces a new hurdle: his own trade war
ROUNDUP, Mont. (AP) — Former ranch hand Pat Thiele has spent years fighting a losing battle against a massive coal mine creeping underground toward his central Montana property. Mine owner Signal Peak Energy sits atop a billion-ton reserve of coal in the Bull Mountains, not far from where Thiele lives. The mine has long seemed poised to benefit from President Donald Trump's pledges to revive the faltering coal industry — vows the president has renewed vigorously in his second term with new orders to deregulate mining. A Republican tax cut bill making its way through Congress contains a special carve-out provision allowing the mine to expand.
More Americans filed for jobless aid last week
WASHINGTON (AP) — Filings for U.S. jobless aid jumped last week but American workers broadly remain secure in their jobs despite economic uncertainty over global trade. Jobless benefits applications rose by 14,000 to 240,000 for the week ending May 24, the Labor Department said Thursday. Analysts had forecast 226,000 new applications.
Federal court blocks Trump from imposing sweeping tariffs under emergency powers law
WASHINGTON (AP) — A federal court on Wednesday blocked President Donald Trump from imposing sweeping tariffs on imports under an emergency-powers law, swiftly throwing into doubt Trump's signature set of economic policies that have rattled global financial markets, frustrated trade partners and raised broader fears about inflation intensifying and the economy slumping.
What happens to Trump's tariffs now that a court has knocked them down?
WASHINGTON (AP) — A federal court in New York handed President Donald Trump a big setback Wednesday, blocking his audacious plan to impose massive taxes on imports from almost every country in the world. A three-judge panel of the U.S. Court of International Trade ruled that Trump overstepped his authority when he invoked the 1977 International Emergency Economic Powers Act to declare a national emergency and justify the sweeping tariffs.
Trump rejects claim he's 'chickening out' on tariffs just because he keeps changing rates
WASHINGTON (AP) — President Donald Trump wants the world to know he's no "chicken" just because he's repeatedly backed off high tariff threats. The U.S. Republican president's tendency to levy extremely high import taxes and then retreat has created what's known as the "TACO" trade, an acronym coined by The Financial Times' Robert Armstrong that stands for "Trump Always Chickens Out." Markets generally sell off when Trump makes his tariff threats and then recover after he backs down.
CEO pay rose nearly 10% in 2024 as stock prices, profits soared
NEW YORK (AP) — The typical compensation package for chief executives who run companies in the S&P 500 jumped nearly 10% in 2024 as the stock market enjoyed another banner year and corporate profits rose sharply. Many companies have heeded calls from shareholders to tie CEO compensation more closely to performance. As a result, a large proportion of pay packages consist of stock awards, which the CEO often can't cash in for years, if at all, unless the company meets certain targets, typically a higher stock price or market value or improved operating profits.
Cosmetics company E.l.f acquires Hailey Bieber's Rhode beauty brand for $1 billion
NEW YORK (AP) — E.l.f. Beauty has acquired Hailey Bieber's Rhode skincare brand in a $1 billion deal, the companies said. Bieber's Rhode had $212 million in net sales in the 12 months that ended March 31. The company's products are only available online, but by the end of this year it plans to begin an in-store partnership with Sephora in North America and the U.K.
California avocado growers say Mexican imports have helped their sales
SOMIS, Calif. (AP) — Andreas Tompros lost his home and at least a third of his avocado orchard to a wildfire last year, but the 47-year-old grower is not worried about his farm making a comeback. While California farmers often rattle off a list of challenges they face including high labor costs, water restrictions and overseas competition, many avocado growers say they have a good thing going. A key reason may come as a surprise to some — Mexican imports.
Musk says he is leaving the Trump administration after leading effort to slash federal government
WASHINGTON (AP) — Elon Musk is leaving his government role as a top adviser to President Donald Trump after spearheading efforts to reduce and overhaul the federal bureaucracy. His departure, announced Wednesday evening, marks the end of a turbulent chapter that included thousands of layoffs, the evisceration of government agencies and reams of litigation. Despite the upheaval, the billionaire entrepreneur struggled in the unfamiliar environment of Washington, and he accomplished far less than he hoped.
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