How Edgar Allan Poe Got Kicked Out of the U.S. Army

Photo Illustration by The Daily Beast

In discussions of great American writers who were also military veterans, the name Edgar Allan Poe is unlikely to come up. Yet it should: the iconically doomed poet and inventor of the modern detective story served as a soldier for several of his formative years. Furthermore, in considering a life often marked by painful loss and failure, it might surprise many readers to learn Poe was something of a successful and motivated soldier—that is, until he wasn’t.

After leaving the University of Virginia without a degree (and with significant gambling debts) Poe enlisted in the U.S. Army in 1827 under an assumed name: Edgar A. Perry. It’s unclear why he fudged the official rolls but he may have been reluctant to use his real name for the lingering sake of propriety. “Enlisted soldier” was not a profession typically undertaken by honorable young men in the early 19th century, a time when, paradoxically, Revolutionary War heroes were being venerated by the same dominant culture that looked with scorn upon real-life grunts. Relatively small by today’s standards, the army’s ranks at the time were disproportionately composed of immigrants, many of whom spoke little English: Germans, Irish, and others.

Poe’s exact reasons for wanting to join this motley crew are lost to history. Most likely his motivations were various and complicated, as people’s tend to be. He did not get along well with his foster father, John Allan, who refused to continue supporting him financially. His first book of poems, published the same year as his enlistment, was far from a commercial success. He was a young man in want of a glorious and paying career, and as a boy he would have heard stories of his grandfather David Poe, a major in George Washington’s army. The elder Poe was semi-famous in Baltimore and was remembered and liked by such luminaries as General Lafayette. There is evidence from “Private Perry’s” letters that Poe bragged of this association.  

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U.S. sues UBS, alleges crisis-era mortgage securities fraud

The U.S. government on Thursday filed a civil fraud lawsuit accusing UBS Group AG, Switzerland’s largest bank, of defrauding investors in its sale of residential mortgage-backed securities leading up to the 2008-09 global financial crisis.


Reuters: Business News

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Getting to Equal: Three Ways We Can All Fight for Gender Mainstreaming in the U.S.

The U.S. needs a feminist systems reboot.

Policy-making is never gender-neutral, and policies written without considering gendered impacts from the get-go aren’t just “gender-insensitive,” but often directly harmful to women. We can’t continue to play whack-a-mole with one elected official or one policy at a time. We need to reject the institutionalization of male privilege in all its forms. I believe we can fix inequality—but we must start swinging for the fences.

If equality is the goal, what will be the strategy?

Feminist sang, chanted and rallied for gender equality in New York City during a march to mark International Women’s Day in 2015 that was organized by UN Women. The organization’s gender mainstreaming framework has become a guiding light for nations across the world interested in advancing equality. (Ryan Brown for UN Women / Creative Commons)

We can accelerate progress by looking to other nations and the gender mainstreaming (GM) framework used by UN Women and nations around the world to address gender-based policy issues since its creation in the 1980’s.

Two U.S. agencies are already implementing this work, but only one of them operates within our borders: In its nascency at the National Weather Service (NWS), gender mainstreaming allows staff to see that hurricanes are not gender or race neutral, and that how they distribute communications in a disaster could make a life-or-death difference for women and girls. The U.S. Agency for International Development (USAID)’s Office of Gender Equality and Women’s Empowerment, meanwhile, brings mainstreaming to the forefront in their implementation of its Gender Equality and Women’s Empowerment Policy.

The interventions the U.S. makes for gender equality abroad, which are compulsory when distributing aid money, are important—but we also need to take a long look in the mirror and get to work solving our own problems at home.

It won’t be perfect the first time, but we need need to start performing gender equity work in every government agency and in every institution. Equality is not achieved overnight, but policy is a constitutional commitment to provide actionable measures and allocate resources. (If this idea sounds intriguing, look to Gender-Sensitive Parliaments, Guidelines for Gender Mainstreaming Academia or Climate Change Gender Action Plans to learn more on GM from experts in other countries.)

There are three things you can do to put wide-scale progress towards gender equality in motion.

#1: Speak up for a systems approach.

The GM framework at NWS was shaped by the efforts led by their global peers at the World Meterological Organization, which prioritizes gender equality. We have a lot to learn from the decades of GM implementation overseas—including the strategies that transformed Iceland into the 1 in the world for gender equality, including the employ of Gender Equality Officers within their government agencies.

One limitation of GM approaches elsewhere, however, is that much of the policy language only refers to gender as a binary (men/women), and are silent towards other gender identities and sexual orientations. Racial relations are also often poorly incorporated in GM frameworks.

GM needs an inclusive redefining, and we can do that within our borders in a way that fits our culture. While the global framework for GM may be missing language related to race and other forms of discrimination, this allows each nation to develop an approach that fits their own culture best. In order for GM to be effective within the U.S., feminists should ensure while pushing for its advancement that the needs of women of color, trans women and other women at the intersections are put first.

Ask your elected officials if they’ve heard of Gender Mainstreaming. Ask them how they review policies for impact by race and gender. Ask whether there are measurable outcomes.

#2: Consider CEDAW.

Nearly all members of the United Nations ratified the 1979 Convention on the Elimination of All Forms of Discrimination Against Women (CEDAW), but the U.S. never did, and our elected officials still refuse to do so. CEDAW lays a roadmap to addressing many hot topics in the U.S.—including reproductive rights, maternity leave and affordable child care.

There is a growing groundswell of municipalities moving forward with resolutions for and ratifications of CEDAW. Help launch the next one or do all you can to push one in your community further forward. Join the grassroots movement of Cities for CEDAW and check out the resources for citizens, like these examples of tips for talking with your elected officials.

#3: Follow the funding.

As gendered inequities are better understood, we must allocate funding to implement programs that close those gaps. Our neighbors to the north are making progress on this: Earlier this year, Canada performed their first ever gender analysis of the federal budget and identified several key areas.

One of the key areas on which they are focusing has a parallel plague in the U.S.—sexual assault at universities. The data they collected provided the evidence policy-makers needed to justify funding; Status of Women Canada has now become a full federal department and was allocated $ 100 million. In addition, Statistics Canada has created a new Centre for Gender, Diversity and Inclusion Statistics so the work moving forward can be data-driven and include other forms of discrimination like indigeneity and immigrant status.

Ask your elected officials where equality fits in their list of priorities. Ask what gender-disaggregated statistics they have available. Ask what percent of their funding goes towards programs for equality.

The trifecta of actions here would move us closer to a data-driven, systems approach to gender equity that would set us on the path to equality.

And aren’t we worth it?

Barbara Clabots is an interdisciplinary researcher working at the intersection of gender equality and the environment.

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The post Getting to Equal: Three Ways We Can All Fight for Gender Mainstreaming in the U.S. appeared first on Ms. Magazine Blog.

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Foxconn Considers Bringing Chinese Workers to Wisconsin as U.S. Labor Market Tightens

Facing one of the tightest labor markets in the U.S., Foxconn has been trying to tap Chinese engineers through internal transfers to supplement staffing for its planned Wisconsin plant, according to people familiar with the matter.
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Caution grips European stocks ahead of U.S. mid-term results

European shares ended a choppy session in negative territory on Tuesday as investors punished companies like Zalando that missed expectations and remained cautious while waiting for the results of U.S. mid-term elections.


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Asian Markets Mostly Higher Ahead Of U.S. Midterm Elections

Asian stock markets are mostly higher on Tuesday following the mostly positive cues from Wall Street. Nevertheless, investors are cautious as they look ahead to the U.S. midterm elections to be held later in the day, which will decide control of both the House and Senate. Democrats are seen as having a much better chance to claim a majority in the House than in the Senate.
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Trump touts economy, Georgia sees racist calls as U.S. vote nears

President Donald Trump touted U.S. economic growth and painted a grim picture on immigration in rallies with Republican candidates before Tuesday’s elections as Democratic former Vice President Joe Biden urged voters to reject division.


Reuters: Politics

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Stocks Move Sharply Higher On Optimism About Trade Talks – U.S. Commentary

After initially showing a lack of direction, stocks moved sharply higher over the course of the trading session on Thursday. With the gains on the day, the major averages extended the strong upward move seen over the two previous sessions.
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Ermenegildo Zegna Launches XXX Capsule in the U.S.

TRIPLE X: Ermenegildo Zegna has teamed with Farfetch to launch its Ermenegildo Zegna XXX capsule collection in the U.S.
Designed by the brand’s creative director Alessandro Sartori to “match the identity of society’s boldest and most visionary members,” the capsule breaks the boundaries between streetwear and tailoring to offer a wardrobe of urban pieces, combining a contemporary, metropolitan look with sartorial quality. Ermenegildo Zegna officially kicked off its XXX project this year.
Retailing from $ 375 to $ 2,450, the Ermenegildo Zegna XXX capsule collection includes graphic windbreakers, bombers, T-shirts, sweatshirts, knits, as well as accessories such as fanny packs, pouches, basketball caps and hand-stitched sneakers, all embellished with the lineup’s signature XXX pattern.
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How Mike Espy’s Bid For A Historic Win in Mississippi May Deliver Democrats Control of U.S. Senate

As we all know by now, this year’s midterm elections have fulfilled the promise of being among the most turbulent. The hyper-partisanship, xenophobic rhetoric, race baiting, voter suppression – to name just a few elements—have exposed even more severe fissures in a deeply divided nation since Donald Trump captured the White House two years ago.The stakes are high for the next Election Day, on Nov. 6, as the Democrats seek to take Congress as a means of disrupting Trump’s agenda. To gain control, the Dems need to flip 23 House seats and assuming the party can hold on to its current position, win 2 U.S. Senate seats.

Given this scenario, the most consequential race may wind up being the special election in Mississippi, to replace Republican Thad Cochran, the former U.S. senator who resigned last March for health reasons. It may become the most historic as well: Alphonso Michael Espy, known as “Mike,” seeks to win that seat to become the first African American U.S. senator from the Magnolia State since Reconstruction. The 64-year-old politician has already twice achieved political milestones: In 1986, he was the first black Congressman elected to represent a district in Mississippi, after Jim Crow; and in 1993, he joined former president Bill Clinton’s cabinet as the first African American Agriculture Secretary. (Espy resigned from the post in 1994, following questions over his use of government perks and acceptance of gifts, and was indicted in 1997, for receiving improper gifts. In 1998, he was, however, acquitted of all charges.)

To emerge victorious, he has to beat the frontrunner, Cindy Hyde-Smith, the Trump-backed GOP incumbent who was appointed to the seat by Gov. Dewey Phillip Bryant. Other candidates in the race are attorney and talk show host Chris McDaniel. a Republican with neo-Confederate ties, and Tobey Bartee, an African American nonpartisan candidate.

How this race differs from the other congressional contests is that one of the candidates must receive more than 50% of all votes cast to win the Nov. 6 special election. If not, the top two vote getters – regardless of party affiliation – will have to face each other in the Nov. 27 runoff. Based on the polls, fundraising and electorate support, it appears likely in that case that the election would be between Espy and Hyde-Smith. In a recent, NBC News/Marist poll, Espy receives support from 29% of likely voters, Hyde-Smith gets 38%percent, McDaniel 15% and Bartee 2%. However, 15% of the electorate say they’re undecided.

BLACK ENTERPRISE Editor-In-Chief Derek T. Dingle recently gained an exclusive interview with Espy while he was on the hustings, discussing the current state of the race and his proposed formulas for victory. Here are edited excerpts from that interview:

This special election has garnered a great deal of national and international attention. Share with us your perspective on the significance of the race.

Well, it’s a significant race because everyone’s looking at it as an opportunity to pick up a seat for the Democratic Party. This race has been judged by the Democratic Senate Campaign Committee as one of the top ten pick-up races in the nation. And they’re looking at it because everyone looks at the Doug Jones race in {Alabama last year] as sort of a model.

On paper. it seems our race is more critical than Alabama because we’ve got a larger black population — Mississippi’s  almost one-fourth or one-fifth black in pure population — but when it comes to voting age, we’ve got 13,000 more black registered voters than in Alabama. So that was before we started [our registration efforts].. We’ve done a pretty good job over the summer in registering black voters. So they did it in Alabama, and we believe that it is possible to do it in Mississippi.

We’ve witnessed voter suppression in Georgia this election cycle.. How do you ensure such activity does not undermine the black vote in Mississippi?

There’s some voter suppression here in Mississippi. There always has been, and we have to be knowledgeable that it exists right now. It’s not to the extent as we see in Georgia, but still there’s an attempt to suppress the vote. It comes in two ways. One is purging. So our state officials here in Mississippi are sending out voting notices and letters to those who have not voted in the last two election cycles. If they don’t come and re-register they’ll be purged. Now that doesn’t mean that they can’t vote.

So when they go to the voting polls on November 6th, there’s a high likelihood that if they received the letter and did not go and re-register, their name won’t show up. But they can file an affidavit ballot. Sometimes that’s very, very discouraging to a voter, and he or she might just give up. That may be the intended outcome of those who are doing this. So we are actively trying to encourage those who got the letters – some of them haven’t voted since Barack Obama’s re-election and they may be off the rolls. We are trying to alert them, give them the proper information and tell them that if they got the letter, they got to re-register. If not, don’t be disenchanted or disillusioned. Vote affidavit and that vote will be counted.

What is the other voter suppression tactic and how is your campaign addressing it?

The other is age-old voter identification. A lot of people in Mississippi, particularly the elderly, don’t have driver’s licenses so they’ve never had to show ID when they went to the polls before. So a lot of them might be discouraged that they don’t have that form of ID. We’re letting them know that even though they don’t have a driver’s license, you can register with a utility bill or any kind of proper identification that shows your picture and address. A lot of those will be taken. I’d rather access to the ballot would be free and unfettered without all these hassles and hindrances. That’s our hope. But right now we have to deal with it as it is like [Democratic gubernatorial candidate] Stacey Abrams is doing in Georgia.

How has your campaign engaged in outreach efforts to gain broad-based support?

Now, you cannot win with black votes alone. But someone like me with a history of being able to encourage white voters to vote for me, a lot of people see that as predicate for a victory. I was the first African American to ever win a congressional seat in Mississippi, in 1986; and I won with 85% of the black vote and 11% of the white vote. That district was not majority black back then. Then in 1992, I won with 95% of the black vote and 40% of the white vote. So the fact that I’m well-known, got 95% of the vote, served and filled the office before, I’m the most experienced person in the race irrespective of party, and everyone knows that I’ve got a history of reaching across the aisle to white voters, independents, and Republicans, all suggest that this is an opportunity to win. Lastly, this is a special election where there’s two strong Republicans on the ballot. So in that scenario, if the black vote comes out in record numbers, I believe there’s an opportunity to actually win without a runoff and even if there is a runoff, there’s still the possibility of a victory if the black vote comes out. That’s the answer.

So with this being a highly-contested race, possibly going to a runoff, what has been your campaign’s focus on financing? Where have you gained funding?

Our financing is actually doing very well. In the third quarter of this cycle, we’re beating the Republican incumbent and the challenger, almost both of them put together. Now we have to report every 15 days, so October 1st to October 15th, we’ve been number one in the state of Mississippi, in raising money. We’re raising almost $ 40,000 per day because people know that we have the momentum, the voters are swinging in our favor. We’ve seen many, many, many whites dedicating their support to our program. I’m going to say [we have raised] $ 2.3 million so far, and about 87% of that have come from donors at $ 100 and below.

We’re really, really proud of that. We don’t have a lot of high dollar donors. There is an incumbent in the race, someone who is governor-appointed so she’s getting a lot of that Republican PAC money, that corporate money, because she’s in that seat right now. But even though she’s there, we’re out-raising her because people are following my platform of making sure our rural hospitals stay open, making sure we receive Medicaid money, making sure there’s economic opportunities for everyone, making sure there’s educational access for everyone with no student debt…and everybody’s just responding to that.

Has the incendiary, divisive rhetoric in this election cycle served as a factor in gaining support?

I just shot right above all the noise and the chaos. People are tired of the dysfunction in Washington. They’re tired of the reality show and the mean-spirited tweeting. They want somebody who can bring everyone together…and serve everyone..

The post How Mike Espy’s Bid For A Historic Win in Mississippi May Deliver Democrats Control of U.S. Senate appeared first on Black Enterprise.

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U.S. investors take most cash in 8 months from taxable bond funds -ICI

U.S. fund investors took nearly $ 6.9
billion from taxable bond funds during the latest week,
withdrawing from debt markets at the fastest pace since
February, Investment Company Institute (ICI) data showed on
Wednesday.
Investors’ sharp turn against debt comes after nearly three
years of strong demand that added hundreds of billions of
dollars to such products. Returns on many bond funds have been
negative this year as the U.S. Federal Reserve raised interest
rates to


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U.S. Supreme Court divided over Google privacy settlement

U.S. Supreme Court justices, in an internet privacy case involving Google, disagreed on Wednesday over whether to rein in a form of settlement in class action lawsuits that awards money to charities and other third parties instead of to people affected by the alleged wrongdoing.


Reuters: Technology News

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Once a refugee, Somali-American appears headed to U.S. Congress

Ilhan Omar fled civil war in Somalia and spent four years of her childhood in a refugee camp in Kenya. Now she is poised to win a seat in the U.S. Congress, taking on a president who has tried to prevent people like her from coming to America.


Reuters: Politics

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Turkey Renames Street Leading to New U.S. Embassy After Malcolm X

Turkey is paying homage to Malcolm X by renaming the street on which a new U.S. embassy is being built after the late civil rights leader.

Haberturk TV reports that President Recep Tayyip Erdogan made an order to rename the street “Malcolm X” avenue. His order was then backed by the Ankara municipal assembly in a unanimous vote, according to state-run media agency Anadolu. The decision, however, will likely be met with criticism and seen as controversial by American diplomats since detractors argue that the American Muslim activist preached a message of violence that stoked racial tension.

This is not the first time that Turkey used the names of streets housing diplomatic missions to make a political statement. According to Bloomberg:

Following a tweet by the United Arab Emirates foreign minister that appeared to criticize an Ottoman Turkish military commander, Fahreddin Pasa, Turkey renamed the UAE embassy’s street after him. And the current U.S. embassy’s street was changed to “Olive Branch Road” in February, a reference to the Turkish military operation in Syria against the Kurdish YPG, a group allied with the U.S. but which Turkey views as a terrorist organization.

 

In response to Donald Trump’s comments when he proposed a Muslim immigration ban in his campaign for the presidency, Erdogan also demanded that the now-President’s name be removed from signs around Trump Towers in Istanbul. His name remains on view, but last month the Istanbul municipal assembly voted to remove it from the metro underpass leading to the Trump complex.

Last month, the Turkish president met with Malcolm X’s daughters in New York during a United Nations assembly meeting, calling Malcolm X a symbol of “the struggle against racism.” Following the meeting, Malcolm X’s daughter, Ilyasah Shabazz, said the Turkish leader “represents” the legacy of her father, who was assassinated in 1965. “It was my great honor to meet with such a leader, especially in the name of human dignity, compassion, and social justice,” she said, reports the Daily Sabah.

The post Turkey Renames Street Leading to New U.S. Embassy After Malcolm X appeared first on Black Enterprise.

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Exclusive: Defense firms see only hundreds of new U.S. jobs from Saudi mega deal

Every time President Donald Trump mentions the $ 110 billion arms deal he negotiated with Saudi Arabia last year, he quickly follows up, saying “It’s 500,000 jobs.”


Reuters: Business News

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Australian Cult Brand Spell & The Gypsy Collective Lands in U.S.

Australian fashion labels, many of which are in the spotlight as Meghan Markle, Duchess of Sussex, tours the antipodes, have long been popular in Southern California, where the climate and beach culture mirror the land of Oz.
Spell & The Gypsy Collective, the 10-year-old contemporary brand started by sisters Isabella Pennefather and Elizabeth Abegg, opened its first stand-alone retail space in the U.S., a pop-up at 1108 Abbot Kinney Boulevard in Venice, Calif. Open through Nov. 25, the shop has attracted cult lovers of the brand, some of whom traveled from as far away as Florida and Canada just to shop.

The Spell & The Gypsy Collective pop-up shop on Abbot Kinney Boulevard in Venice, Calif. 
Rich Polk

“Because we’re slow fashion, we don’t make too many pieces so they tend to sell out very quickly,” said Pennefather, who started out in 2008 making jewelry that she sold at the open-air market in Byron Bay, Australia. When her sister, Lizzy, came on board a few years later, they expanded into clothing and e-commerce, and the business grew from there.
“I remember when we had a clunky web site and early bloggers such as Oracle Fox [whose given name is Amanda Shadforth] bought our things at the

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Stocks Extend See-Saw Performance With Sharp Pullback – U.S. Commentary

Following the substantial rebound seen in the previous session, stocks extended their recent see-saw performance with a sharp pullback during trading on Friday. The major averages regained some ground after an early sell-off but still ended the day significantly lower.
RTT – Top Story

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Disappointing Earnings News Leads To Sell-Off On Wall Street – U.S. Commentary

Following yesterday’s attempted recovery from an early sell-off, stocks showed a substantial move back to the downside during trading on Wednesday. The Dow dropped to its lowest closing level in over three-months, while the Nasdaq and the S&P 500 tumbled to five-month closing lows.
RTT – Top Story

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Turkey Renames Street Leading to New U.S. Embassy After Malcolm X

Turkey is paying homage to Malcolm X by renaming the street on which a new U.S. embassy is being built after the late civil rights leader.

Haberturk TV reports that President Recep Tayyip Erdogan made an order to rename the street “Malcolm X” avenue. His order was then backed by the Ankara municipal assembly in a unanimous vote, according to state-run media agency Anadolu. The decision, however, will likely be met with criticism and seen as controversial by American diplomats since detractors argue that the American Muslim activist preached a message of violence that stoked racial tension.

This is not the first time that Turkey used the names of streets housing diplomatic missions to make a political statement. According to Bloomberg:

Following a tweet by the United Arab Emirates foreign minister that appeared to criticize an Ottoman Turkish military commander, Fahreddin Pasa, Turkey renamed the UAE embassy’s street after him. And the current U.S. embassy’s street was changed to “Olive Branch Road” in February, a reference to the Turkish military operation in Syria against the Kurdish YPG, a group allied with the U.S. but which Turkey views as a terrorist organization.

 

In response to Donald Trump’s comments when he proposed a Muslim immigration ban in his campaign for the presidency, Erdogan also demanded that the now-President’s name be removed from signs around Trump Towers in Istanbul. His name remains on view, but last month the Istanbul municipal assembly voted to remove it from the metro underpass leading to the Trump complex.

Last month, the Turkish president met with Malcolm X’s daughters in New York during a United Nations assembly meeting, calling Malcolm X a symbol of “the struggle against racism.” Following the meeting, Malcolm X’s daughter, Ilyasah Shabazz, said the Turkish leader “represents” the legacy of her father, who was assassinated in 1965. “It was my great honor to meet with such a leader, especially in the name of human dignity, compassion, and social justice,” she said, reports the Daily Sabah.

The post Turkey Renames Street Leading to New U.S. Embassy After Malcolm X appeared first on Black Enterprise.

Lifestyle | Black Enterprise

EMPLOYMENT SEARCH UPDATE:

Major Averages Close Mixed For Second Straight Session – U.S. Commentary

Stocks fluctuated over the course of the trading session on Monday after failing to sustain an initial move to the upside. The major averages showed a lack of direction before closing on opposite sides of the unchanged line for the second consecutive session.
RTT – Top Story

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Major Averages Close Mixed For The Session And The Week – U.S. Commentary

After failing to sustain an early move to the upside, stocks turned mixed over the course of the trading session on Friday. The major averages pulled back well off their highs of the session, with the Nasdaq and the S&P 500 ending the day in negative territory.
RTT – Top Story

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Stocks Drop Sharply As Mnuchin Drops Out Of Saudi Conference – U.S. Commentary

After attempting to recover from an early move to the downside, stocks have pulled back sharply in recent trading on Thursday. The major averages have slid firmly into negative territory, partly offsetting the strong gains posted on Tuesday.
RTT – Top Story

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Michael B. Jordan Invites U.S. Open Winner Naomi Osaka To ‘Creed 2’ Premiere With Shirtless Photo

Premiere Of Disney And Marvel's 'Black Panther' - Arrivals

Source: David Crotty / Getty

Naomi Osaka won the U.S. Open against Serena Williams recently and appeared on several talk shows after to discuss the big win. When she went on The Ellen DeGeneres Show, Osaka was asked about her celebrity crush. She admitted that she liked Michael B Jordan and right there Ellen texted him to possibly hook them up.

 

Osaka sat there blushing and couldn’t believe what was happening. The Jasmine Brand reports that Ellen decided to take things to another level when she wished Osaka a happy birthday this week. Attached to the birthday tweet was a photo of Jordan without his shirt on. Osaka tweeted back that she wanted Ellen to block her, but then Jordan tweeted something very special to Osaka.

 

He sent a newer photo with no shirt on and said, “This one is better and more recent. LOL Happy Belated Bday Naomi. But seriously I want to invite you to the Creed 2 premiere as a bday present.” We haven’t heard if Osaka is going or not, but if she doesn’t want to accept the invitation we know plenty of people that will take her place.

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Stocks Close Sharply Lower After Failed Recovery Attempt – U.S. Commentary

After ending the previous session roughly flat, stocks moved sharply lower over the course of the trading day on Thursday. The major averages attempted a recovery after seeing early weakness but saw a significant pullback as the day progressed.
RTT – Top Story

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Stocks Close Roughly Flat After Recovering From Early Weakness – U.S. Commentary

After recovering from an early move to the downside, stocks showed a lack of direction over the course of afternoon trading on Wednesday. The major averages spent the afternoon bouncing back and forth across the unchanged line.
RTT – Top Story

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Exclusive: U.S. sports leagues could see $4.2 billion annually from legal betting

The four major U.S. professional sports leagues could reap a combined $ 4.2 billion annually as a result of legal sports betting, most of it indirectly from increased fan engagement, according to a casino industry survey to be released later on Thursday.


Reuters: Sports News

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U.S. Housing Starts Pull Back More Than Expected In September

After reporting a substantial increase in new residential construction in the previous month, the Commerce Department released a report on Wednesday showing a bigger than expected pullback in U.S. housing starts in the month of September.
RTT – Economic News

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MOVES-Bank of Montreal promotes U.S. investment bankers -memo

Bank of Montreal has
appointed veteran investment banker Susan Wolford as vice-chair
of investment and corporate banking and Patrick Kratus as head
of technology and businesses services, according to a memo
reviewed by Reuters on Tuesday.


Reuters: Company News

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Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $ 1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

If past statistics can offer any guidance, in 2016, $ 1.44 trillion income taxes were paid by 140.9 million taxpayers reporting a total of $ 10.2 trillion in adjusted gross income, according to data recently released by the Internal Revenue Services.

Bloomberg looked into the 2016 individual returns data in detail for some additional insights illustrated in the charts below:

The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent). The top 50 percent of all taxpayers paid 97 percent of total individual income taxes. In other words, the bottom 50 percent paid 3 percent. Which small percentile of tax payers also paid 3 percent or more? You might have guessed it. It is the top 0.001%, or about 1,400 taxpayers. That group alone paid 3.25 percent of all income taxes. In 2001, the bottom 50 percent paid nearly 5 percent whereas the top 0.001 percent of filers paid 2.3 percent of income taxes. The individual income tax system is designed to be progressive – those with higher incomes pay at higher rates. While the indentation, or the reduction in the steepness of the “progressivity” curve, is visible at the highest levels.The average tax rates paid for the very wealthiest has fallen in recent years from a peak of 24.1 percent in 2013 to 22.9 on 2016 and was a full four percentage points below the 26.9 percent that the top one percent paid on average. To put these numbers in perspective, the top 0.001 percent of taxpayers consists of 1,409 returns, the top 1 percent equals 1.4 million returns and the top 50 percent is half of the total 140.9 million returns.

In 2016, the bottom 50 percent of income tax filers earned about 11.6 percent of total U.S. income. The top one percent received 19.7 percent of overall income while the 1,409 people among the top 0.001 percent had an aggregate income of $ 205 billion or 2 percent of the U.S. total.

The most extensive rewrite of the U.S. tax code in more than 30 years was signed in law in early 2018. Individuals may start to feel the effects of last year’s tax overhaul when they file their returns in April. Estimates show the law’s biggest benefits go to top earners.

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U.S. judge approves SEC settlement with Tesla, Musk; shares jump

A U.S. judge on Tuesday approved a settlement between a federal regulator, Tesla Inc and its chief executive officer, Elon Musk, over his tweets promising to take the company private, signaling an end to a tumultuous period for investors.


Reuters: Business News

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U.S. Pastor Andrew Brunson To Be Released From House Arrest In Turkey

A Turkish court on Friday ordered American pastor Andrew Brunson to be released from house arrest, drawing praise from President Donald Trump. Brunson was convicted of terror-related charges but will be allowed to leave Turkey due to good behavior and the time he has already served.
RTT – Top Story

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Mexico says new U.S. trade deal won’t block other economic relations

Mexico’s Foreign Minister Luis Videgaray told his Chinese counterpart in a phone call on Saturday that Mexico’s new trade deal with the United States and Canada will not impede economic relations with other countries, according to a foreign ministry statement.


Reuters: Business News

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Exclusive: U.S. senators urge India to soften data localization stance

Two U.S. senators have called on Indian Prime Minister Narendra Modi to soften India’s stance on data localization, warning that measures requiring it represent “key trade barriers” between the two nations.


Reuters: Technology News

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Pacific Fleet, Critical To U.S. Security, Calls San Diego Home | NBC Nightly News

NBC News

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Facebook Takes Down Hundreds of U.S. Pages It Says Spread Misinformation

Facebook has taken down hundreds of accounts that were spreading false or misleading political content ahead of the U.S. midterm elections, one of the social network’s most aggressive efforts to stop misinformation spread primarily by Americans.
WSJ.com: WSJD

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New Treasury program limits foreign investment in U.S. technology

The restrictions, which go into effect on Nov. 10, are part of a pilot program that aims to give the government more power to block foreign, non-controlling investments in companies involved in industries such as aircraft development and computer manufacturing, as well as chemical and weapons systems.
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Lingering Rate Concerns Contribute To Sell-Off On Wall Street – U.S. Commentary

Stocks saw substantial weakness during trading on Wednesday following the mixed performances seen in the two previous sessions. The tech-heavy Nasdaq showed a particularly steep drop, falling to its lowest closing level in over three months.
RTT – Top Story

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Newlyweds Among 20 Killed in Most Deadly U.S. Transportation Accident in 9 Years: Reports

Authorities are shedding some light on the deadly limousine crash that occurred in Upstate New York on Saturday, resulting in 20 deaths.

The National Transportation Safety Board, which is conducting a separate investigation into the crash in Schoharie, said this has been the “most deadly transportation accident” in the U.S. since February 2009, when 50 people lost their lives during the crash of Colgan Air Flight 3407 in Buffalo.

On Sunday afternoon, the New York State Police held a press conference where they confirmed that “18 of the victims were in the limousine, including the driver,” and that “two pedestrians standing nearby were also struck and killed.” All of the victims were adults.

Lester Andrews, who lives nearby in Rochester, told the New York Times that two of his stepsons, Axel Steenburg, 29, and Rich Steenburg, 34, as well as Rich’s wife Amy, were riding in the limousine at the time of the crash. While he said that Amy and Rich, who were married in June, had rented the limousine, he was not certain why they had done so.

“They rented the limo with some families and I don’t know exactly what they were doing,” Andrews told the newspaper. “There’s just a lot of confusion, so many people died.”

Rich is survived by a 10-year-old daughter, a 14-year-old stepson and his wife, who wasn’t in the vehicle on Saturday because she wasn’t feeling well, a relative told the Times.

Local reports claimed a wedding party was inside the limousine at the time of the crash, the New York Times previously reported, but the aunt of one of the limo victims told the Associated Press that the vehicle was en route to a birthday celebration.

“Our lives have been changed forever,” said Valerie Abeling, whose daughter was invited but unable to attend the party.

Abeling also told the AP that two of the victims were newlyweds Erin Vertucci, 34, and Shane McGowan, 30.

RELATED: 20 Killed in ‘Horrific’ Limousine Crash Involving Wedding Party in Upstate New York: Reports

New York Gov. Andrew Cuomo released a statement on Sunday, sharing that his “heart breaks for the 20 people who lost their lives.

“State police are working with federal and local authorities to investigate the crash, and I have directed State agencies to provide every resource necessary to aid in this investigation and determine what led to this tragedy,” he wrote. “I join all New Yorkers in mourning these deaths and share in the unspeakable sorrow experienced by their families and loved ones during this extremely difficult time.”

Additionally, the New York State Police have created a phone line dedicated to assisting family members of the crash victims. Family members are encouraged to call 1-877-672-4911.

The crash, which involved two vehicles, occurred at approximately 1:55 p.m. on Saturday afternoon, according to police. Their preliminary investigation revealed that the accident occurred at the intersection of State Route 30 and State Route 30A.

All of the passengers inside the limousine had been killed in the crash, authorities stated later in the conference.

Though police said they were in the early stages of an investigation, authorities determined that the incident occurred after the limousine, a 2011 Ford Excursion, “failed to stop at the intersection of State Route 30A.” The limousine then “traveled across the intersection into a parking lot and struck a 2015 Toyota Highlander that was unoccupied and parked.”

The Highlander then struck and killed two pedestrians.

https://platform.twitter.com/widgets.js

The New York State Police went on to state that the scene of the crash has been cleared “and the victims have been transported to Albany Medical Center where autopsies are now being conducted.”

While the police will not be releasing any information about the victims until all of the families have been notified, they did confirm that the license plate on the limousine was from the state of New York. All other information, such as where the limousine was coming from and where it was headed to, have yet to be announced.

Jessica Kirby, the manager of the Apple Barrel Country Store, told the Times that the crash occurred in the parking lot of the store, where multiple pedestrians were struck.

“That limo was coming down that hill probably over 60 miles per hour,” she told the newspaper.

RELATED VIDEO: 20 Killed In Upstate New York Limousine Crash

Addressing the crash in an emotional Facebook post on Saturday, the Apple Barrel Country Store and Cafe wrote, “As you may be aware, there was a horrific accident in front of our business today.”

“First, we want to thank all of the emergency services that responded. We are so thankful for all of you,” the store wrote, adding that they “will be open for business” on Sunday. Encouraging patrons to come by on Sunday, the store added, “we hope you will come and share your smiles, love, friendship and hugs with us.”

In response to the message, a woman commented that her family was “affected by three of the deaths” in the crash.


PEOPLE.com

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Sparks or harmony with Kavanaugh on the U.S. Supreme Court?

When Clarence Thomas took a seat on the U.S. Supreme Court in 1991, he had only barely survived a series of bitter Senate hearings on allegations of sexual harassment that divided the country.


Reuters: Politics

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Stocks Close Firmly Negative Amid Interest Rate Worries – U.S. Commentary

Stocks saw considerable weakness during the trading session on Thursday, extending the pullback seen in afternoon trading on Wednesday. With the drop on the day, the Dow gave back ground after ending yesterday’s trading at a record closing high.
RTT – Top Story

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These Countries Pose the Biggest Threat to U.S. National Security, Says Kissinger Associates CEO

Since the Cold War ended, U.S. national security has focused on issues like terrorism and climate change rather than conflict with other countries, says Jami Miscik, CEO of geopolitical consulting firm Kissinger Associates.

But she said that trend is now reversing, with Russia and China returning to the lead the list of national security risks. Of course, Russia is alleged to have interfered in the 2016 U.S. presidential campaign while China and the U.S. are engaged in a trade war that is expected to intensify.

Miscik, speaking at Fortune’s Most Powerful Women Summit on Wednesday in Laguna Niguel, Calif., also named Brazil as a potential hot spot because of its upcoming elections that could put a more extreme far-right government in power. Meanwhile, in Iran, more extreme leaders may be coming into power because the economic prosperity promised by moderate politicians after the U.S.-Iran Nuclear Deal failed to materialize.

“I don’t think [Western] companies ran in there the way moderates in Iran hoped they would,” Miscik said. “Domestically, the moderates have declined in popularity.”

When it comes to China, she expects that President Donald Trump’s trade war will worsen relations. The longtime safeguard against conflict between the U.S. and China–their financial interdependence–is no longer enough.

“I think the tensions are here. I think they’re likely to grow,” she said before adding: “What we really are interdependent on is trade. If we take that off the table, with sanctions or tariffs, we start to remove the one thing that links us together.”

When asked to assess President Trump on foreign relations, Miscik praised his decision to pull the U.S. out of the Trans-Pacific Partnership and his renegotiation of NAFTA. But in general, she criticized his approach toward America’s allies.

“I do not give him a high grade on making our allies feel comfortable that we will be there for them,” Miscik said.

Miscik said that financial prowess is what allows the U.S. to wield global power. Most transactions come through the American economy at some point, which gives the U.S. government jurisdiction to enforce measures like sanctions on other countries.

“We have economic exceptionalism in our control of the national financial system,” she said, but countries are beginning to explore alternative payment methods in order to avoid the U.S. entirely, which could dilute America’s international influence.

Despite the increased risks from individual nations, functional issues remain a significant threat, from terrorism and rising nationalism to nuclear proliferation, populism, and authoritarianism.

“Climate change has officially become a national security issue,” Miscik said, based on the huge number of Americans living in coastal areas that are in danger of flooding if water levels rise.

She also warned about cybersecurity threats and the new types of attacks that U.S. organizations may need to be prepared to face.

“The one I’m worried about now, especially for businesses, is an attack that manipulates the data,” she said–a tactic that could be used to undermine confidence in American institutions and financial systems.

Fortune

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Pimco’s Ivascyn says short-maturing U.S. Treasuries look more attractive

Pimco Group Chief Investment Officer Dan Ivascyn, who helps oversee more than $ 1.71 trillion, said on Thursday that U.S. Treasuries look more attractive because of higher yields but only in the short…


Reuters: Wealth

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Senate approves legislation to oversee U.S. air traffic, drones

The U.S. Senate gave final approval Wednesday to legislation overseeing the Federal Aviation Administration, granting new authority to the government to destroy dangerous drones and to speed new rules to allow package deliveries by drones.


Reuters: Politics

SPECIAL NEWS BULLETIN:

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Amazon Will Pay a $15/Hr Minimum Wage to All U.S. Employees Starting Nov. 1

Amazon delivered news Tuesday morning that will affect hundreds of thousands of U.S. workers: increased wages.

The retail giant is raising its minimum wage to $ 15 per hour for all U.S. employees, effective Nov. 1. The increase applies to full-, part-time, temporary and seasonal employees. Amazon subsidiaries such as Whole Foods will also see the wage increase.

More than 250,000 current Amazon employees will benefit from the wage increase, as will the 100,000-plus seasonal employees the company plans to hire for the holidays.

Currently, starting hourly pay at Amazon varies, usually depending on region. For example, a listing for a seasonal, part-time warehouse team member in Kent, Washington, has starting pay at $ 14.25 per hour — the same job in Theodore, Alabama, lists a starting pay of $ 10.40 per hour.

The company also announced that it will start lobbying for an increase in the federal minimum wage, which is currently at $ 7.25 per hour.

Maybe Amazon is being altruistic — or maybe the company is thinking of seasonal hiring needs in an extremely tight labor market.

Major retailers across the country are in the midst of major hiring for the holiday season and scrambling to fill openings. The arms race for workers has prompted many to announce wage increases, better schedules and increased benefits. Amazon appears to be following suit.

Amazon has increasingly faced criticism over pay disparity and working conditions.

A company filing in April revealed that the median pay for fulfillment center employees was just $ 28,446. And shortly after the retailer become the second U.S. company to hit the $ 1 trillion market-value milestone in early September, Sen. Bernie Sanders made headlines for announcing legislation targeted at Amazon and other companies for their low-wage practices.

In a press release regarding the wage increase, Amazon acknowledged some of the flack it has been receiving.

“We listened to our critics, thought hard about what we wanted to do, and decided we want to lead,” said Jeff Bezos, Amazon’s founder and CEO. “We’re excited about this change and encourage our competitors and other large employers to join us.”

Kaitlyn Blount is a staff writer at The Penny Hoarder.

The Penny Hoarder Promise: We provide accurate, reliable information. Here’s why you can trust us and how we make money.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.


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Amazon will now pay all of its U.S. employees at least $15

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Amid increasing public pressure, Amazon has announced it will be raising the minimum wage of all its employees in the U.S. to at least $ 15 an hour.

The increase in pay for Amazon workers will kick in almost immediately, with the new $ 15 wage beginning next month.

According to a statement released today by the online retail giant, the wage increase will affect more than 350,000 workers. That number also covers over 100,000 seasonal employees who will soon be hired at by the company throughout the United States for the holidays.” Amazon currently employs around 575,000 workers around the world. Read more…

More about Amazon, Bernie Sanders, Labor, Minimum Wage, and Workers Rights


Tech

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Trump administration says trade pact will bring auto jobs back to U.S.

U.S. Commerce Secretary Wilbur
Ross sees tens of thousands of jobs flowing back into the U.S.
auto sector, especially among suppliers, thanks to the Trump
administration’s new trade deal with Mexico and Canada, while
industry executives and analysts are less upbeat as higher costs
could hurt sales.


Reuters: Company News

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Major Averages Close Mixed After Seeing Initial Strength – U.S. Commentary

After an early move to the upside, stocks gave back some ground over the course of the trading session on Monday. The major averages pulled back off their highs of the session, with the tech-heavy Nasdaq sliding into negative territory.
RTT – Top Story

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