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Biden to Receive Honorary Degree at Morehouse College Commencement
Morehouse College faculty voted to confer Biden with an honorary doctorate as commencement speaker. Biden is scheduled to deliver the commencement address and receive the honorary degree this Sunday at the historically Black college in Atlanta, Georgia Some students, faculty, and alumni have protested over Biden's involvement in the recent Gaza war between Israel and Hamas. The White House met with Morehouse students and faculty for two hours to discuss concerns over Biden politicizing the speech.
Former Walmart CEO Warns of Bubble as Inflation Drives High-Income Spenders to Grocery Giant
Former Walmart US CEO Bill Simon warns that high-income grocery spending at Walmart may create a "bubble" that will be difficult for the retailer to maintain. While affluent shoppers helped drive Walmart's recent earnings beat, Simon says their needs around service will make the discount experience inadequate over the long run. Simon cites grocery inflation tailwinds currently benefiting Walmart but expects this to reverse as economic challenges ease and service becomes a higher priority. He predicts within two years, as inflation declines, higher-income shoppers will move away from Walmart back to retailers prioritizing service over price.
North Carolina Senators Pass 'Unmasking Mobs and Criminals' Bill, Banning Masks in Public in Response to Protests
Republican senators in North Carolina passed a bill making it illegal to wear masks in public, repealing pandemic-era exemptions that allowed masks for health reasons. The bill called the "Unmasking Mobs and Criminals" bill, passed along party lines despite objections from some Democrats. The bill aims to enhance penalties for wearing masks during crimes and intentionally blocking traffic during demonstrations. Supporters say it addresses escalating protests over Palestine, but critics argue it criminalizes normal behavior and health precautions. The ACLU calls it "deeply troubling" and suppressing dissent when existing laws already ban the targeted crimes.
Supreme Court Justice Samuel Alito's Home Displays Upside-Down American Flag After Election
An upside-down American flag, a symbol used by some Trump supporters who challenged the 2020 election results, was seen at Supreme Court Justice Samuel Alito's home after the election. A photo published by The New York Times showed the inverted flag at Alito's Virginia home on January 17, 2021, three days before Biden's inauguration. Alito said in a statement that his wife briefly displayed the flag "in response to a neighbor's use of objectionable and personally insulting language on yard signs." The upside-down flag became a symbol of the "Stop the Steal" movement, claiming Biden's win was illegitimate due to fraud.
AOC and MTG Clash in Fiery Exchange During House Committee Hearing Convened to Hold Garland in Contempt
Representatives Alexandria Ocasio-Cortez and Marjorie Taylor Greene had a heated verbal exchange during a House committee hearing that was originally convened to hold Attorney General Merrick Garland in contempt. Greene made comments attacking the physical appearance of Democratic Representative Jasmine Crockett of Texas. Ocasio-Cortez objected to Greene's comments as unacceptable and moved for her words to be "taken down." Greene refused to apologize. Crockett later criticized Greene on social media, saying Greene's "mentally deficient" behavior had no place in Congress.
Biden Signs Sweeping Aviation Bill Aimed at Improving Safety and Consumer Protections
President Biden signed sweeping aviation legislation to boost air traffic controller staffing, increase funding to prevent runway incidents, and speed up flight refunds. The $105 billion bill reauthorizes the Federal Aviation Administration for five years and includes new consumer protections and safety measures. It prohibits airlines from charging fees for families to sit together and requires cockpit voice recorders that operate for 25 hours. Maximum penalties for airline consumer violations will increase from $75,000 per violation to $105 billion.
Wife of Senator Bob Menendez Diagnosed with Stage 3 Breast Cancer Amid Ongoing Corruption Trial
Sen. Bob Menendez's wife, Nadine Menendez, who faces bribery charges alongside her husband, has been diagnosed with stage 3 breast cancer. Nadine Menendez will require a mastectomy surgery and may also need additional surgeries and radiation treatment. The announcement about her cancer diagnosis came during the first week of Sen. Menendez's ongoing federal corruption trial in New York. Both Bob and Nadine Menendez have pleaded not guilty to charges they accepted hundreds of thousands of dollars in bribes.
Severe Thunderstorms Wreak Havoc in Southeast Texas, Leaving a Trail of Destruction and 4 Fatalities
Fast-moving thunderstorms hit southeast Texas for the second time this month, killing at least 4 people. Over 900,000 homes and businesses lost power in the Houston area. High winds of up to 100 mph damaged buildings by blowing out windows. Trees and power lines were down across the region. Storms also hit Louisiana, leaving thousands of residents without power in the New Orleans area. Flights were briefly grounded at Houston airports due to 60 mph sustained winds.
Tesla's Gigafactory Expansion in Berlin Gets Green Light Despite Anti-Tesla Protests
Tesla's plan to expand its Gigafactory near Berlin, Germany was approved by the local council, improving Tesla's chances of building more logistics space. Anti-Tesla protest groups oppose the expansion, claiming it threatens local water supplies. Protesters want to draw attention to the minerals needed for electric car batteries and their impacts on communities, as EVs require more minerals than gas cars. Some protesters have been living in treehouses near the factory for months to try to stop the expansion. A court rejected police attempts to remove them.
Mirage Casino and Volcano in Las Vegas to Make Way for Hard Rock's Guitar-Shaped Hotel Tower
The iconic Mirage casino in Las Vegas will close in July after over three decades, making way for a rebranding under Hard Rock International. Hard Rock will construct a nearly 700-foot tall guitar-shaped hotel tower on the site, similar to their property in Florida. Over 3,000 Mirage employees will lose their jobs due to the closure, with Hard Rock paying $80 million in severance. The new resort will employ over 6,000 when complete. The Mirage's nightly volcano eruptions provided free entertainment on the Strip and inspired attractions at other casinos.
Honda's $65 Billion Investment to Challenge Tesla and BYD with Seven New EV Models
Honda plans to invest $65 billion through 2030 to build seven new EV models as part of a strategy to stay competitive against Tesla and BYD. The investment is double Honda's previous EV budget and aims to slash costs and establish battery and supply chain infrastructure. Honda will introduce 10 new EVs in China by 2027, representing 100% of auto sales there by 2035, targeting the market with its new "Ye Series." Small commercial and personal mini-EV models will launch starting in 2025, following the N-Van e commercial van.
Spirit AeroSystems to Cut Over 400 Jobs in Kansas Amid Boeing Production Issues
Aerospace supplier Spirit AeroSystems announced plans to lay off over 400 employees in Kansas amid production issues at Boeing, one of its major clients. Boeing has faced issues, including a jet door blowing out and quality control problems uncovered by whistleblowers involving its 737 Max planes. The layoffs are meant to address a production slowdown on commercial programs at Spirit's Wichita plant. Whistleblowers have drawn scrutiny from regulators over Boeing's oversight and quality control.
HSBC Shares Drop 3% in Hong Kong Amid Reports of Ping An Insurance Considering Stake Reduction
Shares of HSBC fell over 3% in Hong Kong after reports that its top shareholder, Ping An Insurance, may look to reduce its stake in the bank. Citing unnamed sources, Bloomberg reported Ping An is considering options to trim its $13.3 billion position in HSBC, including further share sales. Last week, Ping An disclosed the sale of HSBC shares, reducing its stake slightly from just over 8% to about 7.9%. Ping An was previously at odds with HSBC management, supporting a 2023 shareholder motion to spin off Asia operations.
Reddit Shares Soar 11% After Announcing Partnership with OpenAI
Reddit signed a data-sharing deal with OpenAI that provides the AI company access to Reddit's API, allowing OpenAI tools to understand Reddit content better. In exchange, OpenAI will provide Reddit with new AI-powered features and tools to strengthen user engagement and become an advertising partner for Reddit. OpenAI and other AI firms face increasing legal issues over data collection methods used to train models. Reddit shares jumped 11% in after-hours trading following the announcement.
GameStop and AMC Shares Plummet Over 15% Amidst Return of Influential Reddit Trader
Popular meme stocks GameStop and AMC saw their share prices plunge over 15% from the previous day's close as markets opened on Thursday. GME fell 18% from its prior close, and AMC opened down 8% and continued falling through the day. The declines came after the re-emergence of influential Reddit trader Roaring Kitty on social media. Kitty's cryptic social media posts featuring movie clips revived speculation around the meme stocks. The meme stock frenzy appears to be fading again on signs Kitty's impact may be temporary.
Rep. Matt Gaetz Ignites Controversy with Support for Trump, Echoing Infamous Proud Boys Phrase
Rep. Matt Gaetz, a Florida Republican, has sparked controversy with a post on X in which he declared his support for former President Donald Trump, stating, "standing back and standing by, Mr. President." The post included a photo of Gaetz standing behind Trump inside the Manhattan criminal courthouse. Gaetz's comment was a direct reference to Trump's own statement to the far-right group the Proud Boys in 2020, when he told them to "Stand back and stand by." Many of the group's members participated in the January 6 Capitol breach, and their leader, Enrique Tarrio, along with several top allies, are currently serving prison sentences for seditious conspiracy related to the attack.
Golf Star Scottie Scheffler Arrested After Chaotic Confrontation with Police Outside Valhalla!
In a dramatic turn of events world No. 1 golfer Scottie Scheffler found himself in the spotlight outside the Valhalla Golf Club for all the wrong reasons. Earlier that day, a man was fatally struck by a shuttle bus outside the golf course, causing traffic backups. Scheffler, seemingly caught up in the chaos, attempted to drive into the club's entrance. His ill-fated decision led to a collision course with law enforcement.
Walmart Surpasses $500 Billion Market Cap After Strong Q1 Results
Walmart's stock price rose after it reported first-quarter earnings that beat analyst expectations, demonstrating consumer resilience in spending despite economic pressure. Walmart's market capitalization surpassed $500 billion for the first time following the strong earnings results. Walmart's CFO stated that consumers have remained consistent in spending from quarter to quarter, though budgets remain stretched. Upper-income consumers are increasingly shopping at Walmart. Analysts noted Walmart's increasing focus on higher-margin revenue streams like digital advertising, marketplace fees, and fulfillment services contributing to growth.
Trump's Former Lawyer Faces Tough Cross-Examination Over Stormy Daniels Payment
Michael Cohen, Donald Trump's former lawyer, faced scrutiny during cross-examination on Thursday due to inconsistencies in his testimony regarding a phone call with Trump about the Stormy Daniels hush money payment. The defense attorney confronted Cohen with text messages showing the call initially discussed something else, raising doubts about Cohen's credibility. Trump seemed satisfied with the day's events, believing it showed the case against him was a "scam."
Trump Sets Sights on Minnesota, Where No Republican Has Won Since Richard Nixon
Former President Donald Trump will travel to Minnesota on May 19th to headline a Republican fundraising event after attending his son Barron Trump's high school graduation in Florida. Trump believes he can win Minnesota in the 2024 presidential election against Joe Biden, although no Republican has won the state since Richard Nixon in 1972. Tickets for the fundraising dinner range from $500 to $100,000 for a photo opportunity package. All money will go to the state Republican party. Trump plans to focus his remarks on economic issues and has claimed falsely that he actually won Minnesota in 2020.