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The Athletic cuts about 20 jobs, 4% of newsroom at New York Times sports site
WASHINGTON (AP) — The Athletic, a subscription sports outlet owned by The New York Times, will lay off about 4 percent of its editorial staff as part of reorganization efforts. The newsroom of four50 people of the Athletic. In addition to the layoffs, more than 20 more journalists from the San Francisco-based outlet will be transferred to new assignments. The New York Times Co. bought The Athletic for $550 million in January 2022, marking one of the largest acquisitions ever made by the news outlet. In a Monday to The Associated Press, a Times spokesman said the company has made the sports site “to cover the most compelling stories that matter to fans of each and every team at any given time. “league daily. “
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Apollo Theatre Executive Director Jonelle Procope to Leave Historic Monetary Milestone
NEW YORK (AP) — Jonelle Procopius’ 20-year tenure as president and CEO of the Apollo Theater has become an era of prosperity and expansion, a starkly different from the tumultuous and cash-strapped decades that preceded it. The years were difficult, as half of the Harlem community faced financial hardship and a business model in conversion. However, when Procopius leaves at the end of June, it will leave its successor Michelle Ebanks with just $80 million raised to complete a renovation and expansion. On Monday night, Procopius will be honored, along with hip-hop mogul Sean “Diddy” Combs and basketball superstar Kareem Abdul-Jabbar, at Apollo’s Spring Benefit for his service.
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The Big Scam: How Billions in COVID-19 Humanitarian Aid Were Stolen or Wasted
WASHINGTON (AP) — An investigation by The Associated Press found scammers could steal more than $280 billion in COVID-19 relief funds; Another $123 billion was lost or wasted. Collectively, the loss represents 10% of the $4. 2 trillion the U. S. government has paid for the loss. The U. S. has dispensed in humanitarian aid for COVID. several states. And federal loan applicants were not checked against a Treasury Department database that would have set off red flags about erroneous borrowers. All of this led to the biggest scam in U. S. history.
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Jeffrey Epstein’s Victims Settle $290 Million Sex Trafficking Lawsuit Against JPMorgan
JPMorgan Chase on Monday announced a tentative settlement with financier Jeffrey Epstein’s sexual victims, the bank said Monday, accusing the bank of being the monetary conduit Epstein used to pay his victims for several years. According to the lawsuits, JPMorgan made loans to Epstein. And he regularly allowed her to withdraw giant sums of cash from 1998 to August 2013, even though he was aware of her sex trafficking practices. The bank said in a statement that it now regrets any interactions the bank has had with Epstein during his years as JPMorgan. customer. The settlement still wants to be approved through the judgment in the case.
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The jury concluded that PacifiCorp is guilty of the devastating Oregon fires; Corporate to appeal
PORTLAND, Ore. (AP) — An Oregon jury found electrical app PacifiCorp guilty of starting devastating fires on Labor Day 2020 as part of a civil trial. The jury awarded millions of dollars each to 17 homeowners who sued PacifiCorp a month. After the fires, he received a maximum of $4. 5 million and the remaining $3 million for emotional distress. The jury also implemented its allocation of liability at a broader level by adding owners of about 2,500 homes damaged in the fires, which could increase the value to more than a billion dollars. This damage will be done to our minds at a later date. PacifiCorp said it would appeal. The Portland app is one of several owned by billionaire Warren Buffett’s Berkshire Hathaway investment conglomerate in Omaha, Nebraska.
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Nasdaq acquires financial software company Adenza in $10. 5 billion equity and inventory deal
Nasdaq is buying software company Adenza from software investment corporation Thoma Bravo in a cash-and-stock deal valued at $10. 5 billion. The transaction includes $5. 75 billion in cash and 85. 6 million Nasdaq shares, nothing unusual. AxiomSL. Calypso provides money market participants with end-to-end treasury management, threat and collateral workflows, and AxiomSL supports monetary institutions with leading regulatory and compliance software.
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Washington Post Editor Fred Ryan Leaves Paper After Nine Years at the Helm
The Washington Post’s publisher and managing director, Fred Ryan, is leaving the paper after nine years at the helm. The paper’s owner, Jeff Bezos, announced Ryan’s departure in a memo to staff on Monday. He will continue as editor and executive director for two more months before leaving. to direct the Ronald Reagan Presidential Foundation’s Center for Public Civility. La Poste has been competitive in its transition to a virtual world, but has suffered from the monetary turmoil of many media industry organizations. Ryan oversaw the appointment of Sally Buzbee as editor of the Post. in chief in 2021.
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Food is compressing Europe. Now Italians are calling for a pasta protest
MILAN (AP) — High food costs are hurting families across Europe, where food inflation is outpacing other primary economies such as the United States, Japan and Canada. Italy, a client organization is taking matters into its own hands, calling for a pasta strike to cut costs through demand reduction. This is despite months of falling food costs from record levels, adding wheat to flour used to make pasta.
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UBS Completes Credit Suisse Acquisition in Deal to Stem Global Currency Turbulence
BERLIN (AP) — UBS says it has completed its acquisition of troubled rival Credit Suisse. The announcement comes just about three months after the Swiss government reached a hasty bailout deal to mix the country’s two largest banks in a bid to maintain Switzerland’s value. reputation as a global monetary medium and quell market turbulence. A member of the bank said Monday that “UBS has completed the acquisition of Credit Suisse today, achieving a vital milestone. “francs ($3. 3 billion) as early as Monday.
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New York City to Enforce Minimum Wage for App-Based Workers, Marking a National First
WASHINGTON (AP) — For the first time nationwide, New York City will put in place a minimum wage rate for app-based food delivery drivers. The new rule could nearly triple the average earnings of workers on apps like Uber Eats and DoorDash in the coming years. According to the city, New York’s more than 60,000 delivery drivers lately earn an average of $7. 09 per hour. to increase to $19. 96 through April 2025, the city said. Union organizers applauded the decision, which comes amid national calls for better wages and operating conditions for concert workers. They point out that more protections are needed. Meanwhile, Uber Eats, DoorDash and Grubhub have all backed down against the new rule.
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