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Accountants have ‘doubt’ that Trump’s Truth Social will survive

Published Mon, 16 Dec 2024 19:35:14 GMT

By Matt Egan | CNNFormer President Donald Trump’s social media venture Truth Social is burning cash and piling up losses so rapidly that accountants warn it might not survive unless it soon completes a long-delayed merger, according to corporate filings.Trump Media & Technology Group (TMTG), which is chaired by the former president, has lost $31.6 million since the company launched in early 2021, SEC filings released Monday show.Truth Social launched in early 2022 as an alternative to Twitter, which is now known as X and is owned by billionaire Elon Musk. At the time, Trump had been banned from what was then Twitter for breaking the platform’s rules on promoting violence during the January 6 riot. His account has since been reinstated.But Trump’s social media platform has struggled to gain popularity, with its 861,000 monthly active users on iOS and Android as of October amounting to barely 1% of those on X, according to Similarweb.With cash levels dwindling, Trump Media’s manag...

McCarthy denies accusation of elbowing Tennessee Rep. in the kidney

Published Mon, 16 Dec 2024 19:35:14 GMT

By Annie Grayer and Melanie Zanona | CNNGOP Rep. Tim Burchett of Tennessee accused former House Speaker Kevin McCarthy of elbowing him in the back Tuesday morning while Burchett was talking to a reporter, the latest sign of how tense the dynamics are in the House GOP conference.Burchett, who was one of the eight Republicans who voted to oust McCarthy, has been heavily critical of the former speaker and the alleged altercation is the latest sign of the pressure cooker dynamics in the House GOP right now.Burchett criticized McCarthy for being a “bully” as he described his altercation with the former House GOP leader where he says McCarthy elbowed him in the kidneys while he was talking to a reporter this morning in the hallway outside the GOP conference meeting.“I got elbowed in the back and it kind of caught me off guard because it was a clean shot to the kidneys. And I turned back (and) there, there was Kevin, and for a minute I was kind of what the heck just happened and then chase...

A’s relocation: Teachers union to file lawsuit that could stop public funds for Vegas stadium

Published Mon, 16 Dec 2024 19:35:14 GMT

In another effort to stop $380 million in public funding for a new baseball stadium in Las Vegas, a Nevada teachers union announced new plans for legal action on Tuesday.It is not expected to stop MLB owners from voting to approve the Oakland A’s relocation on Thursday, when the owners will meet in Arlington, Texas, and expect to approve the relocation in a unanimous vote, according to The Athletic.But the new lawsuit could call into question the viability of Fisher’s plan to move the club into a ballpark on the Las Vegas Strip. Without public funding, or with a delay in public funding, Fisher may be forced to find an alternative location.The teachers’ lawsuit will challenge the language of the bill signed into law by Gov. Joe Lombardo in June, when the state legislature approved the public spending package.Dawn Etcheverry, an elementary music teacher and the president of the union’s “Schools Over Stadiums” political arm, said in a statement that the bill “violates at least five sec...

SF, Seattle mayors urge congress to support increased funding to combat fentanyl

Published Mon, 16 Dec 2024 19:35:14 GMT

SAN FRANCISCO (KRON) – San Francisco Mayor London Breed, Seattle Mayor Bruce Harrell, and 35 other U.S. mayors sent a letter to congressional leaders urging them to pass President Joe Biden’s supplemental funding request, which includes critical resources to address the fentanyl and synthetic opioid crisis on Tuesday. "President Biden's funding request gets at the heart of what we need --more funding for treatment to help those struggling with addiction and to prevent overdoses, and support for public safety and enforcement efforts to hold those accountable who are profiting off this deadly drug. This crisis requires partnerships at all levels of government, and I'm grateful for President Biden's call for more support,” said Mayor London Breed. Biden in San Francisco for APEC: Timeline of president’s visit President Biden’s supplemental funding request includes the following:$1.5 billion in grant funding to localities through the Department of Health and Human Services State ...

Military Humvee stolen from Santa Rosa National Guard armory recovered

Published Mon, 16 Dec 2024 19:35:14 GMT

(KRON) -- A military Humvee stolen from a National Guard armory in Santa Rosa last summer has been recovered, according to the Sonoma County Sheriff's Office. The Humvee, which was stolen on July 3, was found Tuesday morning.Dispatchers with Sonoma County Sheriff got a call just before 7 a.m. reporting a man in a camouflage Humvee allegedly shooting at a utility truck parked in the 28000 block of Highway 116, police said. The driver, later identified as 34-year-old transient Anthony Stabile, then drove away. Pamela Price recall organizers give update in Oakland Deputies responded and the California Highway Patrol was contacted for assistance. CHP officers located the Humvee headed east on Bodega Highway just outside Sebastopol with Stabile at the wheel. Officers followed the Humvee until it was deemed safe to pull him over, which they did on the 900 block of Old Redwood Highway near Hatchery Road in Penngrove.Stabile was arrested without incident, police said.The Humvee was return...

Fairfax’s W.T. Woodson High gets a new name

Published Mon, 16 Dec 2024 19:35:14 GMT

A Fairfax County, Virginia, high school will have a new name for the 2024-25 school year.The school board voted unanimously to change the name of W.T. Woodson High School in Fairfax to Carter G. Woodson High. The approval comes after months of public feedback, the end of a process that started with some community members expressing concerns about the school’s namesake.W.T. Woodson is named after Wilbert Tucker Woodson, the school district’s second-longest serving superintendent. However, historical documents revealed that he opposed desegregation. In a letter to a school board member, Woodson wrote the “order to desegregate schools is highly improper and infringes on human rights.”In September, several school board members sponsored a request to start the process of a name change.The school’s new namesake, Carter G. Woodson, is often considered the father of African American history, and is credited with creating the first journals documenting that history.“I...

CorMedix: Q3 Earnings Snapshot

Published Mon, 16 Dec 2024 19:35:14 GMT

BERKELEY HEIGHTS, N.J. (AP) — BERKELEY HEIGHTS, N.J. (AP) — CorMedix Inc. (CRMD) on Tuesday reported a loss of $9.7 million in its third quarter.On a per-share basis, the Berkeley Heights, New Jersey-based company said it had a loss of 17 cents._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CRMD at https://www.zacks.com/ap/CRMDSource

Business Highlights: Wall Street soars as inflation cools; US tightens financial sanctions on Hamas

Published Mon, 16 Dec 2024 19:35:14 GMT

___Stock market today: Wall Street soars as cooling inflation raises hopes for an end to rate hikesNEW YORK (AP) — Wall Street surged after a report on U.S. inflation sent waves of relief through markets. The S&P 500 jumped 1.9% to a two-month high Tuesday, one of is best days of the year. The Dow rallied 489 points, and the Nasdaq composite soared 2.4%. The highly anticipated report showed inflation slowed last month, bolstering bets among traders that the Federal Reserve is finally done with its market-crunching hikes to interest rates. Technology and other high-growth stocks led the way higher. Stocks of smaller companies also got a particularly big boost on hopes that financial conditions won’t tighten further. Treasury yields tumbled.___What’s pushing inflation down? More goods, workers and housingWASHINGTON (AP) — Long past its painful peak, inflation in the United States may be heading steadily back toward its pre-pandemic levels, without the need for further interest rat...

Asensus Surgical: Q3 Earnings Snapshot

Published Mon, 16 Dec 2024 19:35:14 GMT

DURHAM, N.C. (AP) — DURHAM, N.C. (AP) — Asensus Surgical, Inc. (ASXC) on Tuesday reported a loss of $18.3 million in its third quarter.The Durham, North Carolina-based company said it had a loss of 7 cents per share. Losses, adjusted for non-recurring costs, were 6 cents per share.The maker of surgical robots and medical instruments posted revenue of $1.1 million in the period.In the final minutes of trading on Tuesday, the company’s shares hit 24 cents. A year ago, they were trading at 46 cents._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ASXC at https://www.zacks.com/ap/ASXCSource

After deadly Nevada crash, federal investigators want cars to warn drivers if they’re speeding

Published Mon, 16 Dec 2024 19:35:14 GMT

DETROIT (AP) — Federal accident investigators want automakers to install systems on all new vehicles that warn drivers when they go over the speed limit, and it is asking regulators to figure out how states can electronically limit speeds on vehicles driven by repeat traffic offenders.The National Transportation Safety Board’s recommendations to combat excessive speeding came after a hearing Tuesday on a January 2022 crash in North Las Vegas, Nevada. In that crash, the driver of a Dodge Challenger with a long record of speeding ran a red light at 103 miles per hour (166 kilometers per hour) and slammed into a minivan, killing himself and eight others.The board, which can only make recommendations and has no regulatory authority, determined that the Challenger driver’s excessive speed and failure to obey a stop sign and red light caused the crash. His impairment from cocaine and PCP contributed. But it also found that the state of Nevada failed to seriously punish the dri...