CNN BUSINESS | Wall Street is facing a $9 trillion problem

London (CNN Business) – Central banks were the superheroes of the early phase of the pandemic, taking dramatic steps to save the economy and financial markets from ruin.

Now, as the recovery kicks into gear, they’ve become a major risk for investors.

What’s happening: The latest reading of the Back-to-Normal Index from CNN Business shows that the US economy’s comeback is 90% complete. But investors are increasingly worried that the Federal Reserve, observing such promising data and rising inflation, will make a damaging mistake, such as moving too soon to roll back unprecedented levels of support — or ignoring growing problems until they’re too late.  —read more—

F1 | Verstappen claims dominant Monaco victory over Sainz and Norris, after polesitter Leclerc fails to take start

Red Bull’s Max Verstappen breezed to his maiden Monaco Grand Prix win over the Ferrari of Carlos Sainz and McLaren’s Lando Norris, with Ferrari polesitter and home hero Charles Leclerc failing to take the start after suffering a pre-race driveshaft issue – Verstappen also claiming the lead of the drivers’ championship for the first time in his career after Lewis Hamilton finished a disappointed P7.

Starting effectively from pole after Leclerc’s cruel side-lining, Verstappen out-muscled Mercedes’ Valtteri Bottas off the line to take a lead that he would only briefly relinquish in the pit stops, Verstappen claiming his second win of the season, and his first ever podium in Monaco.  —read more—

watch: Race Highlights | 2021 Monaco Grand Prix

CNN | A restaurant manager who forced a Black man to work without pay owes him more than $500,000 in restitution, court rules

(CNN) – A South Carolina man who was forced to work over 100 hours every week for years without pay and subjected to verbal and physical abuse was supposed to receive close to $273,000 in restitution after his former manager pleaded guilty.

But that initial amount was too low, an appellate court ruled in April. The man should have received more than double that amount — closer to $546,000 — from the manager to account for federal labor laws, according to the ruling.

John Christopher Smith was forced to work at a cafeteria in Conway without pay for years. His manager, Bobby Edwards, pleaded guilty to forced labor in 2018 and was sentenced to 10 years in prison for his abuse of Smith, a Black man who has intellectual disabilities.  –read more—

F1 | Leclerc beats Verstappen to sensational Monaco pole as late crash prevents others improving

Charles Leclerc delivered on Ferrari’s shock Monaco Grand Prix pace to take a brilliant pole position in his home race – but his delight was tempered slightly when he ended the session in the barriers.

The Monegasque put together the fastest lap of the weekend with his first run in Q3 but pushed a little too hard on his second run, clipping the Armco as he turned into the chicane, which broke his front suspension sending him across the kerb and into the barrier on the other side.

That incident brought out the red flag with less than a minute to go, ending the session prematurely and preventing anyone – including Max Verstappen who was purple in sector one – from completing their final lap.  —read more—

HGTV | 40 Screened Porches We Wanna Chill On

Protected from the elements and biting bugs, these pretty porches offer indoor-outdoor living at its finest.  —see gallery—

CNN style Beauty | Wolf cuts: Gen Z’s answer to the mullet hairstyle

If you see a teenager with a disheveled mullet that moves like a windblown shag, it’s probably a hairstyle known as the “wolf cut.” This ‘do is recognizable by its voluminous crown, which swiftly tapers into wispy layers, and it is the latest Gen Z beauty trend to take social media by storm.

Popular across genders, the wolf cut is thought to have originated in the salons of South Korea, taking its name from the wild, untamed look the heavy layers create, resembling the fur of its namesake. To take things further, the style is often set in place on loosely permed hair, to ensure an expertly tousled look.  —read more—

CNN health | 5 ways to repair a friendship (or leave it behind if toxic)

Try writing down things you appreciate about your friend.

(CNN) – When a friendship hits a stumbling block, how do you know whether to work on the relationship or let it go?

It can be tempting to let a friendship fade instead of facing conflict — especially when life feels overwhelming in other ways — because conflict is hard. But we are already facing a loneliness epidemic, and relationship repair carries further urgency in the face of biological evidence.

“It actually is a matter of life and death,” wrote Lydia Denworth in her book, “Friendship: The Evolution, Biology, and Extraordinary Power of Life’s Fundamental Bond.” “It is carried in our DNA, in how we’re wired. And that means friendship is not a choice or a luxury; it’s a necessity that is critical to our ability to succeed and thrive.”  —read more—

CNN travel | Past, present and future: The evolution of China’s incredible high-speed rail network

(CNN) — At the beginning of the 21st century China had no high-speed railways.

Slow and often uncomfortable trains plodded across this vast country, with low average speeds making journeys such as Shanghai-Beijing a test of travel endurance.

Today, it’s a completely different picture. The world’s most populous nation has — by some distance — the world’s largest network of high-speed railways.

No fewer than 37,900 kilometers (about 23,500 miles) of lines crisscross the country, linking all of its major mega-city clusters, and all have been completed since 2008.  —read more—

CNN BUSINESS | Verizon offloads Yahoo and AOL in $5 billion deal

Verizon Media CEO Guru Gowrappan appears at a 2019 event.

New York (CNN Business) – Verizon is exiting the media business, announcing Monday that it’s selling the unit for $5 billion to private equity firm Apollo Global Management.

The sale includes AOL and Yahoo, which Verizon bought for a combined $9 billion in recent years. Verizon will retain a 10% stake in the spin off and the Verizon Media Group name will be changed to just Yahoo.

Verizon once had great plans to become a dominant player in the online media and ad business. The telephone company bought AOL for $4.4 billion in 2015 and further bolstered its portfolio with its Yahoo purchase at a similar price in 2017. The unit was briefly named Oath, but Verizon admitted that its plans to take on Amazon (AMZN), Google (GOOG) and Facebook (FB) was essentially a waste when it took a $4.6 billion writedown on Oath in 2018.  —read more—

CNN opinion | My great-grandmother survived the 1921 Tulsa massacre. We’re not heeding her history

(CNN) – A century ago, my Black brothers and sisters were decimated by one of the worst occurrences of racial violence in our nation’s history. On May 31 and June 1, 1921, White gangs flooded into the thriving Greenwood neighborhood and murdered up to 300 Black men, women and children. According to the Tulsa Historical Society, 1,500 Black homes were burned, along with over 600 businesses, and places of worship, healing, learning and gathering.

My great-grandmother, Rebecca Brown Crutcher — a woman who was the picture of Black excellence — lived and worked in the Greenwood community. But in 1921, she fled in fear of her life as White Tulsans burned her neighborhood to the ground.  —read more—