Category: News | Opportunity Zones (page 78 of 83)

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Warrants issued in fatal police shooting of black man in Atlanta | CNN

CNN | Warrants issued in fatal police shooting of black man in Atlanta

 

(CNN) – The Atlanta Police officer who shot and killed Rayshard Brooks at a Wendy’s parking lot last week was charged with felony murder and other charges, Fulton County District Attorney Paul Howard announced Wednesday.

The other police officer on scene also faces three charges, including aggravated assault, Howard said.

The decision comes just five days after Brooks was shot twice in the back in Atlanta during an attempted arrest. Officer Garrett Rolfe, who fired the fatal shots, has already been fired, and officer Devin Brosnan, who was also on scene, has been put on administrative duty.  —more

Nike joins the companies making Juneteenth an annual paid holiday | CNN Business

CNN Business | Nike joins the companies making Juneteenth an annual paid holiday

New York (CNN Business) – Nike is adding June 19, a holiday called Juneteenth, to its list of official, paid company holidays.

The sportswear giant joins a growing number of companies that announced this week they are making Juneteenth, the oldest known US celebration of the end of slavery, an annual company holiday. Twitter (TWTR), Square (SQ) and Vox Media also plan to do the same.

Nike (NKE) CEO John Donahoe made the announcement in a letter to employees Thursday, along with several other actions the company plans to take in light of nationwide demonstrations calling for racial justice.

The announcements came as President Donald Trump said Thursday he plans to return to the campaign trail on June 19. After intense criticism, he announced in a Friday night tweet that the rally would be rescheduled to June 20 “out of respect for this holiday.”  —more

United is mortgaging its frequent flyer program to raise $5 billion | CNN Business

CNN Business | United is mortgaging its frequent flyer program to raise $5 billion

New York (CNN Business) – United Airlines is mortgaging its Mileage Plus frequent flyer program, its latest effort to raise the cash it needs to weather the Covid-19 crisis.

The term loan will come from Goldman Sachs (GS), Barclays (BCS) and Morgan Stanley (MS), and it will take seven years to repay. The interest rate was not disclosed. United says between this and an additional $4.5 billion in federal loans for which it expects to be eligible, it estimates it will have $17 billion in cash on hand by the end of September, roughly three times the normal cash it carries.

US air travel is down about 80% compared to a year ago in the most recent estimates, but that indicates some modest rebound in demand for air travel from earlier this spring, when United and other carriers reported air travel demand was “virtually zero.”  —more

People are bidding online for million-dollar cars — without seeing them in person | CNN Business

CNN Business | People are bidding online for million-dollar cars — without seeing them in person

(CNN) – Increasingly, wealthy bidders are going online to buy collector cars worth six-figures or more at auctions without seeing them in person first.

At one online auction last month, a 2003 Ferrari Enzo sold for $2.6 million. It was the highest price ever paid for a car in an Internet-only auction, according to RM Sotheby’s. At that same auction, another Ferrari, a 1985 288 GTO, sold for $2.3 million. And, at another another recent RM Sotheby’s online event, a limited edition track-only 2020 Porsche with Martini racing team stripes sold for $1.3 million.

“I have seen a marked growth in the number of people who will actually buy a car, will spend tens of thousands, or maybe even up to a hundred thousand dollars or more, in some cases, for a car they’ve not seen,” said Donald Osborne, a collector car appraiser and CEO of the Audrain Automobile Museum in Newport, Rhode Island.  —more

IBM is canceling its facial recognition programs | CNN Business

CNN Business | IBM is canceling its facial recognition programs

London (CNN Business) – IBM is canceling its facial recognition programs and calling for an urgent public debate on whether the technology should be used in law enforcement.

In a letter to Congress on Monday, IBM (IBM) CEO Arvind Krishna said the company wants to work with lawmakers to advance justice and racial equity through police reform, educational opportunities and the responsible use of technology.

“We believe now is the time to begin a national dialogue on whether and how facial recognition technology should be employed by domestic law enforcement agencies,” he said, noting that the company no longer offers general purpose facial recognition or analysis software.–more

Airbnb is making a huge comeback | CNN Business

CNN Business | Airbnb is making a huge comeback

New York (CNN Business) – Here’s another sign that summer travel is rebounding: Airbnb said it’s experiencing a surge in bookings as customers emerge from several months of being cooped up in their homes because of Covid-19.

Airbnb revealed that it had more US bookings between May 17 and June 3, which encompassed Memorial Day on May 25, than the same time period a year earlier. That signals Americans are ready to travel, albeit primarily within the United States.

CEO Brian Chesky said he’s noticed travelers are preferring to stick to drivable domestic destinations within 200 miles of their home. The malaise of international travel restrictions is making it difficult for people to explore outside of their home countries.–more

6 Atlanta police officers booked on charges after alleged use of excessive force during protest | CNN

CNN | 6 Atlanta police officers booked on charges after alleged use of excessive force during protest

(CNN) – Six Atlanta police officers were booked, five on felony charges, Wednesday after allegations of using excessive force during a protest Saturday, according to the sheriff’s office.

All six have been released on signature bonds, according to the Fulton County Sheriff’s Office.

In a video recording of the incident, the officers are seen breaking windows of a vehicle, pulling a woman out of the car and tasing a man.

The two victims have been identified as students at Spelman and Morehouse, two historically black colleges. They were on their way home from picking up food when they got caught in traffic downtown caused by a protest of police violence against black citizens.–more

US black-white inequality in 6 stark charts | CNN politics

CNN politics | US black-white inequality in 6 stark charts

(CNN) – The nationwide protests following the death of a black man, George Floyd, at the hands of white police officers has once again shone a spotlight on the long-standing racial divide in the US.

This, along with the coronavirus pandemic that has disproportionately killed black Americans, has drawn renewed attention to the persistent inequities in wealth, health and opportunity between blacks and whites despite economic prosperity of recent years.

Those disparities exist because of a long history of policies that excluded and exploited black Americans, said Valerie Wilson, director of the program on race, ethnicity and the economy at the Economic Policy Institute, a left-leaning group.–more

Video captures police officer in Florida kneeling on a black man’s neck during an arrest | CNN

CNN | Video captures police officer in Florida kneeling on a black man’s neck during an arrest

(CNN) – A Florida police department has launched an internal investigation after a video surfaced on social media showing a Sarasota police officer kneeling on a black man’s neck during an arrest.

In the nearly 90-second cellphone video taken by a bystander during the May 18 incident, three officers can be seen attempting to take a male individual into custody. One of the two officers is then seen kneeling on the head and neck of the man.

The man, who was arrested on a domestic violence/battery charge, is heard yelling, “Why am I being arrested?” as the officer kneels on him.  —more

They’re famous for their investments. But Warren Buffett and Masa Son keep striking out | CNN Business Risk Takers

CNN Business Risk Takers | They’re famous for their investments. But Warren Buffett and Masa Son keep striking out

New York (CNN Business)  SoftBank is often described as the Berkshire Hathaway of tech. That was once a flattering comparison. But the investing track records for the Japanese firm run by Masayoshi Son and Berkshire’s Warren Buffett have soured lately.

SoftBank (SFTBF) has been hit hard by the huge drop in the share prices of public companies in its portfolio such as Uber (UBER) and Slack (WORK), as well as the massive haircut in valuations of private unicorn startups like WeWork, DoorDash and Indian hotel company Oyo.

Meanwhile, Berkshire Hathaway (BRKB) has had notable misfires of its own, such as scandal-ridden bank Wells Fargo (WFC) and struggling food giant Kraft Heinz (KHC).

Berkshire also disclosed last Friday that it dumped nearly all its stake in investment bank Goldman Sachs (GS), which has been hit hard this year in the broader market turmoil.  —more

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