>>Stocks Close Mixed As Fed Decision Looms

(New York, NY)  --  Wall Street closed mixed Tuesday as investors weigh the latest corporate earnings reports.  Tech shares struggled with Nvidia losing more than five-percent.  Trading remained volatile as the Federal Reserve began a two-day policy meeting ahead of Wednesday's decision on interest rates.  At the closing bell, the Dow Jones Industrial Average gained 203 points to 40-743.  The S&P 500 lost 27 points to 54-36.  The Nasdaq fell 222 points to 17-147.

>>No Rate Cut Expected At July Fed Meeting

(Washington, DC)  --  The Federal Reserve is expected to leave interest rates at a 23-year high.  The July Fed meeting will be held today in Washington, DC, and Chair Jerome Powell will discuss the bank's rate decision at about 2:30pm Eastern.  Economists say it's unlikely the Fed will announce a rate cut, but that Powell is likely to suggest that a cut might be possible by the next Fed meeting in September.

>>Job Openings Edge Higher In June 

(Washington, DC)  --  The number of job openings edged higher in June.  The Labor Department says eight-point-two million jobs were available at the end of the month.  Analysts say the slight increase points to resilience in the labor market.  The number of job vacancies increased in accommodation and food services along with state and local government.  On a yearly basis, the number of job openings was down by about 940-thousand. 

>>Home Prices Break Previous All-Time High On Case-Shiller Index   (Washington, DC)  --  Home prices broke an all-time high in May but the upward trend is slowing.  According to the S&P CoreLogic Case-Shiller National Home Price Index, prices rose nearly six percent on a year-over-year basis in May.  However, that's down a half-percent from the annual gain in the previous month.  New York, San Diego and Las Vegas posted the biggest increases on the 20-city composite index with annual gains of nearly nine percent or more.

>>Job Openings Edge Higher In June 

(Washington, DC)  --  The number of job openings edged higher in June.  The Labor Department says eight-point-two million jobs were available at the end of the month.  Analysts say the slight increase points to resilience in the labor market.  The number of job vacancies increased in accommodation and food services along with state and local government.  On a yearly basis, the number of job openings was down by about 940-thousand. 

>>Younger Workers More Interested in Supporting Unions

(San Diego, CA)  --  Younger workers are far more likely to support unions, but they're also uncertain about them.  A new report is out from UC San Diego's School of Global Policy and Strategy. The report is published by the Economics Policy Institute. It identifies three major shifts among U.S. workers: There's a recent, marked decline in opposition to labor unions; There is a rise of workers who are interested in, but unsure about -- unions; There's an emerging generation gap in attitudes toward unionization. However, the authors say while unions are more active and interest is rising, membership in unions continues its 45-year decline.

>>Consumer Confidence Edges Higher In July

(New York, NY)  --  Consumer confidence rose slightly in July.  The Conference Board's Consumer Confidence Index edged higher from a downwardly revised June reading.  The board's chief economist said worries about elevated prices and interest rates along with uncertainty about the future are still weighing on overall confidence.  The survey noted purchasing plans for homes during the next six months fell to a 12-year low in July.  Consumers also said they plan to spend less on many discretionary items including amusement parks and personal travel. 

>>Disneyland Employees Ratify New Contract 

(Anaheim, CA)  --  The threat of a major work stoppage at Disneyland is over. On Monday, members of three unions representing about 14-thousand total employees voted to ratify a new contract with Disney. The unions say their members have secured "historic" raises, policies and protections following about four months of negotiations. 

>>Stocks Close Mixed To Start Week

(New York, NY)  --  Wall Street closed mixed to start the week Monday.  Stocks struggled for direction ahead of a busy week for corporate earnings and a key policy announcement from the Federal Reserve on Wednesday.  On Semiconductor is among session's best performers gaining more than 12 percent on strong quarterly earnings and revenue.  At the closing bell, the Dow Jones Industrial Average lost 49 points to 40-539.  The S&P 500 gained 4 points to 54-63.

The Nasdaq rose 12 points to 17-370.

(Washington, DC)  --  The U.S. is buying oil to replenish the Strategic Petroleum Reserve.  The purchase of more than four-point-six million barrels of crude is the latest as the Department of Energy works to refill the emergency stockpile.  More than 180 million barrel were released in 2022 in an effort to keep gas prices down after Russia's invasion of Ukraine.  As of July 19th, the reserve, located in Louisiana, had about 374-million-barrels of oil.  

>>Trump Says Bitcoin Stands For Freedom, Sovereignty And Independent From Government Control 

(New York, NY)  -- Former President Trump said that if he returns to the White House, he will make sure the federal government never sells off its bitcoin holdings. During his keynote speech at this year's Bitcoin Conference in Nashville, Trump pledged to create a bitcoin and crypto presidential advisory council, and also said "on day one, I will fire Gary Gensler." Gensler, the Biden-appointed chairman of the SEC, has taken an aggressive approach to crypto regulation.  Trump's speech worked to distinguish between Republican's embrace of crypto, versus the rigid regulatory approach of the Biden administration. Many tech elites are contributing to pro-crypto super PACs like Fairshake, which has raised more than 200-million dollars to elect pro-crypto candidates up and down the ballot.

>>Starter Homes Worth At Least $1M In 237 Cities

(Undated)  --  The typical starter home is worth at least a million dollars in some 237 cities across the nation.  That's according to new numbers published by real-estate marketplace Zillow, which defines a starter home as those in the lowest third of home values in a given area.  Five years ago, only 87 cities saw starter home prices of a million-dollars or more.  More than half of the cities seeing the surge are in California.  New York came in second, followed by New Jersey, Florida and Massachusetts.

>>McDonald's Misses Revenue Expectations

(Chicago, IL)  --  McDonald's is reporting it missed expected revenue and earnings in the second quarter.  The fast food chain reported just under six-point-five-billion-dollars in revenue, below the six-point-six billion analysts had predicted.  The report comes as the company is seeing consumers who no longer see fast food as a good deal look at other options.  McDonald's has tried to buck the trend by brining back specials like a five-dollar meal deal.
 

>>Wall Street Welcomes Fresh Trading Week

(New York, NY)  --  The opening bell rings this morning to kick off a fresh trading week.  This, after Wall Street closed higher Friday, ending what can be described as a volatile week.  Stocks surged as new inflation data lifted investor hopes for more Federal Reserve interest rate cuts this year.  At the closing bell, the Dow Jones Industrial Average gained 654 points to 40-589.  The S&P 500 added 59 points to 54-59.  The Nasdaq rose 176 points to 17-357.

>>Coming Up In The Business Week Ahead

(Undated)  --  The coming week in business news might get off to a slow start with no notable reports on Monday's calendar.  However, things will start to pick up Tuesday when the Federal Reserve opens a two-day meeting that some analysts believe could pave the way for a rate cut in September.  Also happening Tuesday, we'll get word on job openings, consumer confidence and the latest S&P Case-Shiller home price index.  The following day brings the decision from the FOMC on interest rates, which will be followed by a press conference from Fed Chair Jerome Powell.  ADP will also release its employment report on Wednesday.  Weekly jobless claims come out Thursday, with only a slight decline predicted.  The week wraps up Friday with the always closely watched monthly jobs report.  

>>Harris Campaign Raises $200 Million In First Week

(Wilmington, DE)  --  The Harris campaign says it raised 200-million-dollars in its first week.  Campaign officials announced the huge total Sunday, noting they have already signed up more than 170-thousand volunteers.  According to the statement, two-thirds of the donations came from first-time donors supporting the vice president's bid for the White House.  Top Democrats say Kamala Harris is quickly uniting the party behind her candidacy after President Biden dropped out of the 2024 race.

>>SAG-AFTRA Video Game Voice Actors Goes on Strike

(Los Angeles, CA)  --  More than 25 hundred SAG-AFTRA video game actors are hitting the picket lines.  A strike officially began on Friday, after contract talks broke down between the union and the video game industry.  Actors want protections from being replaced by artificial intelligence as well as a new fee structure.  The Interactive Media Agreement expired in November of 2022.  It covers performers who do voice-overs and motion-capture work in video games. 

>>Pandemic Driven 'Revenge Travel' Abating

(New York, NY)  --  Airlines are bracing for the end of the "revenge travel" boom, cutting ticket prices to fill seats amidst a more uncertain outlook.  That's a sharp turnaround from a period of high air fares, when passengers were desperate to travel anywhere and airlines suffered from a shortage of planes.  The cracks have largely come on shorter routes in the U.S. and Europe and in economy class, with more expensive seats in business and first class less affected.  American Airlines slashed its profit forecast for the year and Spirit Airlines cut its revenue outlook for the second quarter.   Southwest Airlines will begin offering assigned seats to boost revenue, leaving behind their company defining free-for-all seating policy.

>>Trading Week Winding Down

(New York, NY)  --  The opening bell rings this morning on Wall Street after Thursday trading ended in mixed territory.  At the closing bell, the Dow Jones Industrial Average gained 81 points to 39-935.  The S&P 500 fell by 27 points to 53-99.  The Nasdaq lost 160 points to 17-181.  Investors today will be keeping an eye out for data on personal income and spending as well as consumer sentiment.  

>>Boeing Finalizes Plea Agreement With Justice Department

(Washington, DC)  --   Boeing is finalizing a plea agreement with the Justice Department that involves the plane manufacturer pleading guilty to conspiracy and paying nearly 250-million-dollars in penalties. This comes after the DOJ concluded a years-long investigation into Boeing crashes in 2018 and 2019. Federal investigations said software errors caused the crashes that resulted in close to 350 deaths. Boeing was accused of misleading the FAA about the safety of its software.

>>Southwest Airlines Nixes Open Seating System

(New York, NY)  --  Southwest Airlines' is getting rid of its open seating system.  For the first time in its history, the low-fare carrier will move to assigned seats, allowing it to charge a premium for some seats on its planes. The airline said passengers were hoping for the change.  According to Southwest, when customers switch to one of their competitors, the number one reason they cite is Southwest's open seating. It will also begin to offer overnight red-eye flights for the first time.

>>Meta's Oversight Board Wants Policy Changes Regarding AI-Generated Explicit Images

(Menlo Park, CA)  --  Meta's Oversight Board wants policy changes regarding sexually explicit, AI-generated images.  Among the changes, the semi-independent Board wants Meta to drop the word "derogatory" and replace it with "non-consensual."  The Board also wants references to these images moved from the "Bullying and Harassment" section of its user policies and placed in the "Sexual Exploitation Community Standards" section.

>>TikTok Challenge Forces Chipotle To Increase Portion Size

(Newport Beach, CA)  --  A viral TikTok challenge is forcing Chipotle to address complaints about small portion sizes.  The "Chipotle Camera Trick Challenge" started trending after a Chipotle customer posted a video of an employee who added more food to his bowl because he was being filmed.  The video got over two million views, and has inspired similar videos to get bigger portions.  Now the head of Chipotle says they are training and coaching their employees to make sure they are consistently making bowls and burritos correctly.  CEO Brian Niccol said Thursday, "There was never a directive to provide less to our customers."

>>Conn's HomePlus Files For Bankruptcy

(The Woodlands, TX)  --  Conn's HomePlus is filing for Chapter 11 bankruptcy. The 134-year-old Texas-based home goods store will close 71 of its 170 stores across the southern United States. It also is holding a site wide sale with between 30 and 50-percent off along with going-out-of-business sales at in-store locations. They're set to close by Halloween.

>>Ahead Of The Bell

(New York, NY) -- The opening bell rings this morning on Wall Street after stocks closed sharply lower yesterday. This comes after disappointing reports from two huge tech companies. Google parent company Alphabet saw YouTube advertising fall below expectations, while Tesla saw shares tank after weaker than expected earnings results. At the closing bell, the Dow Jones Industrial Average fell by 504 points to 39-853. The S&P 500 fell by 128 points to 54-27. The Nasdaq dropped by 654 points to 17-342.

>>Economy Grew In Q2

(Washington, DC) -- The U.S. economy grew in the second quarter of 2024, according to numbers out today from the Bureau of Economic Analysis. The gross domestic product was up two-point-eight percent. That's more than analysts expected. The increase was thanks in part to higher levels of consumer spending.

>>Weekly Jobless Claims Down

(Washington, DC)  --  Fewer Americans are filing first-time jobless claims.  The Labor Department said today that it received 235-thousand requests for unemployment benefits in the week ending July 20th.  That's down ten-thousand from the previous week's revised total.  

>>CrowdStrike Promises More Testing After Global IT Outage

(Austin, TX) -- Cybersecurity firm CrowdStrike is promising to do better after a faulty software update caused a global computer outage last Friday. The outage affected Windows systems across multiple industries, including airlines, banks and hospitals. The company now says it plans to improve software tests moving forward, adding additional layers of scrutiny to prevent this kind of thing from happening again. CEO George Kurtz has been called to soon testify before Congress about the outage.

>>FAA Increases Oversight For Southwest After String Of Close Calls

(Washington, DC) -- The FAA is increasing oversight for Southwest Airlines after a series of close calls. In a statement, it said it's looking into the airline "to ensure it is complying with federal safety regulations." This comes as there's ongoing worries about the state of U.S. aviation that first began in January, when a door panel on a Boeing aircraft blew out midair. The FAA didn't specify which incidents sparked its latest audit announcement on Southwest.

>>Elon Musk Loses $16B In One Day After Tesla Shares Crash

(Austin, TX) -- Elon Musk just lost 16-billion dollars in one day. Shares in Tesla collapsed on Wednesday, causing the CEO's net worth to plummet from 249-billion dollars to 232-billion dollars, according to Forbes. Stock in the electric car company dropped over eleven percent after Tesla's second-quarter earnings fell short of expectations. Musk is still the world's richest person, and is worth about 30-billion dollars more than the second richest person, Amazon founder Jeff Bezos.

>>Car Dealerships Held 125 Days Supply Of EVs In June, Industry Norm Is 60 Days

(New York, NY) -- Weaker demand for battery-powered cars has left dealers with too much stock, triggering deep discounts. According CarGurus, four of the five vehicle models with the biggest reduction in list price over the first half of this year were electric. In some cases, electric models are cheaper than their combustion-engine equivalents. Ford' F-150 Lightning is selling for about five-thousand-dollars less than its gas-engine alternatives. Over the past year, weaker demand for EV's has left dealers with too much stock, triggering deeper discounts and better-lease offers. Consumers have sited range anxiety and a lack of publicly available chargers as major sticking points for their reluctance to buy an EV.

>>"Inside Out 2" Becomes Top Grossing Animated Film Of All Time

(Burbank, CA) -- Pixar is feeling all the emotions with the continued success of "Inside Out 2." It's now the top-grossing animated film of all time at the global box office. On Tuesday, it finished with over one-point-46-billion dollars to surpass fellow Disney film "Frozen 2" for the top spot. The film also passed "Barbie" on Monday to climb to number 13 on the list of all-time grossing films. The success of "Inside Out 2" comes after a string of disappointing results at the box for Pixar.

>>NBA Rejects Warner Bros. Bid

(New York, NY) -- Warner Bros. Discovery's buzzer beater attempt to keep the NBA on TNT has airballed. The league said Wednesday that it has rejected the companies bid to match Amazon Prime Video for the broadcast rights. The league will enter new long-term contracts with Amazon, Disney and NBC Universal starting with the 2025-26 season. The deals are reportedly valued between one-point-eight and two-point-six-billion dollars per year. In a statement, Warner Bros. Discovery said the NBA can't reject their matching offer and they will take appropriate action.

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after stocks closed slightly lower on Tuesday.  At the closing bell, the Dow Jones Industrial Average lost 57 points to 40-358.  The S&P 500 slipped 8 points to 55-55.  The Nasdaq fell 10 points to 17-997.

>>DOT Investigating Delta

(Atlanta, GA)  --  The feds are investigating Delta Air Lines after days of canceled flights following a global computer outage on Friday.  The Department of Transportation's Office of Aviation Consumer Protection is looking into the issues at the airline after thousands of cancelations left travelers scrambling.  The issues started after a software update from cybersecurity firm CrowdStrike affected computers running Microsoft Windows.  Delta says its working around the clock to get operations back to normal.

>>Tesla, Alphabet Report Earnings

(Austin, TX)  --  Tesla reported weaker-than-expected second quarter earnings.  The electric vehicle maker posted earnings of 52 cents per share yesterday, about ten cents less than analysts expected.  Sales dropped seven percent compared to the same quarter last year.  Meanwhile, Tesla reported revenue of 25-point-five billion dollars which is a two-percent increase over 2023.  Also of note, Google parent company Alphabet on Tuesday reported slightly better than expected profit and revenue for the quarter.  

>>Zelle Scams Take Center Stage In Washington

(Washington, DC)  --  The peer-to-peer payment system Zelle is being looked into by lawmakers amid a growing number of scams on the platform.   The Senate Permanent Subcommittee on Investigations heard testimony Tuesday from the CEO of Early Warning Services, the company that runs the Zelle network.  Also called on to testify were executives from Bank of America, JPMorgan Chase, and Wells Fargo, the three biggest Zelle owner banks.  The subcommittee issued a report faulting the banks for only reimbursing 38-percent of customers who said they did not approve a transfer from their account.  Early Warning Services maintains that 99.95 percent of transactions are completed without a complaint of fraud or scam.  

>>Home Sales Slumped In June As Inventory Rises

(Washington, DC)  --  Sales of previously owned homes fell in June to its slowest pace since December.  According to the National Association of Realtors, sales dropped five-point-four percent compared with May.  The group's chief economist says the figures indicate "a slow shift from a seller's market to a buyer's market."  Rising inventory and high mortgage rates are key factors. The median price of a home sold in June was just under 427-thousand dollars.

>>Trump Still Slated To Speak At Nashville Bitcoin Conference

(Nashville, TN)  --  GOP presidential nominee Donald Trump is headed to Nashville.  The former president is scheduled to speak at a Bitcoin conference at the Music City Center, which takes place Thursday through Saturday.  Twenty-thousand people are expected to attend.

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning on Wall Street a rally in tech stocks led to a higher close on Monday.  The rebound helped lift markets with the tech-heavy Nasdaq gaining more than one-and-a-half percent.  Nvidia shares jumped four-percent with Meta Platforms and Alphabet also among the day's best performers.  At the closing bell, the Dow Jones Industrial Average rose 127 points to 40-415.  The S&P 500 added 59 points to 55-64.  The Nasdaq gained 280 points to 18-007.

>>Delta Still Working On Recovering From Computer Outage

(Atlanta, GA)  --  Delta Air Lines says it will take another couple of days to recover from a global computer outage Friday.  The airline has canceled more than four-thousand flight since Friday.  CEO Ed Bastian said yesterday the company is working hard to get operations back to normal.  In a memo, Delta said it's doing everything possible, including increases in incentive pay for pilots and flight attendants.  

>>Senate Looking Into Zelle Scams

(Washington, DC)  --  Lawmakers on Capitol Hill are looking into peer-to-peer payment system Zelle and the growing number of scams on the platform.  The Senate Permanent Subcommittee on Investigations will hear testimony today from the CEO of Early Warning Services, the company that runs the Zelle network.   There will also be testimony from executives with Bank of America, JPMorgan Chase, and Wells Fargo, the three biggest Zelle owner banks.  Committee Chair Richard Blumenthal of Connecticut said that the banks need to answer for their "unwillingness to make consumers whole when they fall victim to scams and fraud on Zelle."

>>Artificial Intelligence Is Being Used To Customize Prices 

(New York, NY)  --  Many retailers are using artificial intelligence to determine how much to charge you based on your ability and willingness to pay.  AI is changing marketing tactics and customizing offers and prices to get you to buy more.  Companies have always tried to target customers by filtering statistics into actual preferences, but today, AI has established a level of sophistication and accuracy that helps make these predictions.  Using AI, companies can now answer: What is this person going to buy next? What are they willing to pay? And where are they going to buy from? So, if you feel like your Starbucks order cost more than your colleagues.it very well might. 

>>McDonald's Extends $5 Value Meal In Most U.S. Markets

(Chicago, IL)  --  McDonald's will extend its five-dollar value meal in most markets.  Company officials announced the move in a memo to its U.S. business units, saying the deal is helping to boost sales.  According to CNBC, the fast food giant plans to extend the promotion through August at most locations.  The offer includes a McChicken or McDouble, four-piece chicken nuggets, fries and a drink for five bucks.  

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after stocks closed lower Friday to end the week.  Stocks slid again in a broad decline as investors continued to sell-off tech shares.  CrowdStrike tumbled eleven percent following a major cyber outage that impacted business around the world.  At the closing bell, the Dow Jones Industrial Average lost 377 points to 40-287.  The S&P 500 fell 39 points to 55-05.  The Nasdaq dropped 144 points to 17-726.  Meanwhile, stock futures edged higher Sunday evening after word of President Biden ending his campaign for re-election.

>>Delta Apologizes For Canceled Flights

(Atlanta, GA)  --  Delta Air Lines is apologizing for thousands of cancelled flights over the weekend following massive computer disruptions.  It started Friday after a faulty software update from cybersecurity firm CrowdStrike caused millions of computers to crash around the world.  For Delta, that translated into more than 35-hundred canceled flights.  Delta CEO Ed Bastian issued the apology Sunday along with offering up frequent flyer miles to affected passengers, saying the airline understands how difficult it is to have your travels disrupted.

>>Income Inequality Ranks Worst In Atlanta

(Atlanta, GA)  --  Income inequality among the country's largest cities is highest in Atlanta.  That's according to a report from GOBankingRates, which noted a large disparity between the bottom-20-percent and to top-20-percent income earners.  The lowest income came at an average of just over eleven-thousand-dollars, while the top end earned nearly 325-thousand-dollars.  The area's median income is just under 78-thousand-dollars.

>>Disneyland Cast Members Vote To Strike

(Anaheim, CA)  --  Cast members at Disneyland have voted in favor of going on strike.  Four unions representing some 14-thousand cast members announced on Friday that 99-percent of the members voted for the strike.  They're looking for fair wages, seniority increases along with a fair attendance policy and increased park safety.  Negotiators and union officials are expected to meet again this week.  

>>Bill Would Require Air Conditioning in All NYC Apartments

(New York)  --  Just like they're required to provide heat in winter, New York City landlords may soon be required to provide tenants with air conditioning in summer.  A bill introduced in the City Council would require landlords to maintain an indoor temperature of no more than 78 degrees when the outdoor temperature tops 82.  Building owners would have four years to comply or face fines of up to 12-hundred-50 dollars a day.  The Rent Stabilization Association, which represents some 25-thousand New York City landlords, calls the proposal unaffordable.  The Health Department says about 350 city residents die from the heat every year.

>>Ahead Of The Bell 

(New York, NY)   --  The opening bell rings this morning on Wall Street after a higher close to start the week with the Dow Jones Industrial Average hitting a new record.  Stocks rose as former President Trump officially picked up the GOP nomination on day one of the Republican National Convention in Milwaukee.  Shares in Trump Media surged more than 30 percent following an assassination attempt on the former President over the weekend.  At the closing bell, the Dow Jones Industrial Average gained 210 points to 40-211.  The S&P 500 added 15 points to 56-31.  The Nasdaq climbed 74 points to 18-472.

>>Fed Chair Talks Rate Cuts

(Washington, DC)  --  It seems like there could be some good news on the horizon when it comes to interest rates.  Fed Chairman Jerome Powell delivered remarks at the Economic Club of Washington D.C. on Monday.  He said the central bank will likely not wait until inflation drops to two-percent to cut interest rates.  Powell said that if you wait until inflation gets all the way down to two-percent "you've probably waited too long."  He didn't say when the Fed might begin to cut rates, but the next meeting on the matter comes at the end of this month.  

>>Elon Musk Ready To Give $45M Monthly To Support Trump

(Undated)  --  Tesla CEO and world's richest man Elon Musk is preparing to give about 45-million dollars a month to a new super PAC supporting former President Trump.  Musk endorsed Trump's 2024 campaign after Saturday's assassination attempt against Trump in Pennsylvania.   

>>Prime Day Starts 

(Seattle, WA)  --  Prime Day 2024 is here.  The two-day Amazon Prime sales event runs through tomorrow and promises to see numerous deals offered by the retail giant.  An Amazon Prime membership is required to participate.

>>High Profile Comic-Con Set For Next Week In San Diego

(San Diego, CA)  --  Comic-Con is gearing up for a more high profile event next week in San Diego.  David Glanzer with Comic-Con says it will be great to get back to normal after the pandemic and the strikes in Hollywood over the last few years.  The convention has signed an extension to stay in San Diego through 2026 with the celebration drawing an estimated 135-thousand people every year. 

>>Watching Wall Street

(New York, NY)  --  Investors welcome a fresh trading week after stocks closed higher on Friday.  The Dow Jones Industrial Average jumped back above 40-thousand for a near record finish.  Stocks rallied on renewed optimism that slowing inflation will trigger a Federal Reserve rate cut in September.  All three major indexes posted gains for the week in a broad-based rally.  At the closing bell, the Dow Jones Industrial Average gained 247 points to 40-000.  The S&P 500 rose 30 points to 56-15.  The Nasdaq climbed 115 points to 18-398.

>>Target To Stop Accepting Personal Checks

(Undated)  --  Target shoppers are free to bring cash, credit or debit cards but you can leave your checkbooks at home.  As of today, the retailer will no longer accept personal checks as payment for purchases.  It says few shoppers still pay by check, and eliminating the payments will speed up checkout.  In addition to cash and plastic, Target shoppers can use digital wallet services like Apple Pay and buy now/pay later services.  

>>Prime Day Starts Tuesday

(Seattle, WA)  --  Prime Day 2024 starts Tuesday and runs through Wednesday.  The two-day Amazon Prime sales event promises to see numerous deals offered by the retail giant.  An Amazon Prime membership is required to participate.

>>Poll: Most Americans Say Inflation Is "Very Serious Problem"  

(Undated)  --  The majority of Americans say inflation is a "very serious problem."  That's according to a recent YouGov poll, which found that voters are more likely to approve of Donald Trump's handling of the issue rather than President Biden's.  The survey also found that for Democrats, the most serious issues that the country faces are gun violence and climate change.  Republicans ranked inflation and illegal immigration as the top concerns.  

>>Ahead In The Business Week

(Undated)  --  Coming up in the business week ahead, Fed Chairman Jerome Powell kicks things off with remarks at the Economic Club of Washington today.  Tuesday brings data on retail sales along with the home builder confidence index.  Housing starts and building permits follow on Wednesday along with the Fed Beige Book - the central bank's latest temperature check on the health of the economy.  Weekly jobless claims are due Thursday, with an uptick of at least a few thousand expected.  There are no notable reports on the calendar Friday as the week comes to a close.

>>Elon Musk Endorses Trump On Same Day As Assassination Attempt

(Undated)  --  Elon Musk is endorsing former President Donald Trump.  The billionaire CEO of Tesla and SpaceX made it official Saturday, not long after Trump was the victim of an apparent assassination attempt.  The former president was speaking during a campaign rally in Pennsylvania when a gunman opened fire, a bullet grazing Trump's ear.  A rally-goer was killed and two others critically injured.  Musk took to X to say "I fully endorse President Trump and hope for his rapid recovery."  In a follow-up post, he said "Last time America had a candidate this tough was Theodore Roosevelt."

>>Trading Week Winding Down (New York, NY) -- The opening bell rings this morning as the trading week starts to wind down. Stocks closed mixed on Thursday following the release of last month's consumer price index report. It showed the annual inflation rate is down to three-percent. Investors today will be keeping an eye out for the producer price index - another report used to gauge federal interest rate cut expectations.

>>FTC To Sue Trio Of Health Companies

(Undated) -- The Federal Trade Commission is planning to sue three large health companies, arguing they inflate costs for patients by acting as middlemen who negotiate the costs of medications. A source with knowledge of the matter identified the three companies being targeted this week as UnitedHealth, CVS Health and Cigna.

>>Energy Dept Grants To Struggling Auto Manufacturing Facilities Total $1.7 Billion

(Washington, DC) -- The Biden administration is pouring one-point-seven billion dollars into an effort to help struggling auto manufacturing facilities convert to produce electric or hybrid vehicles. The initiative announced Thursday will see funds flow to nearly a dozen facilities in eight states.

>>Report: Tesla To Delay Rollout Of Robotaxi (Austin, TX) -- Tesla is reportedly delaying the rollout of its Robotaxi. Bloomberg reported Thursday that the electric vehicle maker is pushing the unveiling from August 8th to some time in October. That word resulted in shares closing down about eight-percent, snapping an eleven-day winning streak.

>>The End Of Redbox (Oakbrook Terrace, IL) -- In what could be called the end of an era, Redbox is going out of business. For more than two decades, the company has rented out DVDs at thousands of kiosks across the company. That's all going away after its parent company, Chicken Soup for the Soul Entertainment, converted its Chapter 11 bankruptcy case to a Chapter 7 liquidation proceeding this week.

>>Coppola-Owned Hotel To Open In Georgia

(Peachtree City, GA) -- The director of film classics like the Godfather is opening a hotel in Peachtree City, Georgia. Don Corleone was big on diversifying assets, and now the film's director Francis Ford Coppola is doing the same by opening the All-Movie Hotel toward the end of the month. The hotel is aimed at filmmakers but everyone is welcome. Coppola tells Variety magazine the hotel is equipped with several movie editing suites and viewing rooms. He says he birthed the idea while in the area filming Megalopolis, realizing sometimes he wanted to focus on editing and other times he just wanted to relax. At the All-Movie Hotel filmmakers can do both interchangeably. The hotel opens on the 27th.

>>Weekly Jobless Claims Down

(Washington, DC) -- Fewer Americans are filing first time unemployment requests. Today's report from the Labor Department shows 222-thousand claims received in the week ending July 6th. That's a drop of 17-thousand from the previous week's revised total. It's also less than the 236-thousand most analysts had been expecting.

>>CPI Shows Consumer Prices Continue To Slow

(Washington, DC)  --  The consumer price index report, a key inflation gauge, came in lower for June than most analysts had expected.  Today's numbers from the Bureau of Labor Statistics show the CPI declined zero-point-one percent over the previous month and increased just three-percent year over year.  The results could be seen as welcome news for Federal Reserve officials looking for further evidence that they're making progress in getting rapid inflation under control.

>>Powell Delivers Semi-Annual Monetary Policy Report To House Cmte

(Washington, DC)  --  Fed Chair Jerome Powell brought the Central Bank's Semi-Annual Monetary Policy Report to the House Financial Services Committee Wednesday on his second and final day of Congressional testimony.  As he did while testifying before a Senate Committee Tuesday, Powell said the risks to the economy have become better balanced, allowing him to broaden his focus beyond just getting inflation down.  When it comes to interest rates however, he said despite progress on inflation he doesn't expect to see them return to the near-zero territory they were in before the COVID-19 pandemic.

>>Costco Increasing Fees

(Issaquah, WA)  --  Costco members will have to pay more starting this fall.  The company has announced it's increasing the annual membership fee between five and ten dollars.  The cost of the Gold Star membership will go from 60 to 65 dollars annually, while the premium Executive membership will increase from 120 to 130 dollars.  It's the first fee increase for Costco members in seven years and will take effect September 1st.  The price of Costco stock rose two percent after the announcement.  Over the last year-and-a-half, Costco shares have nearly doubled in value.

>>Meta To Allow Kids To Use VR Chat

(Menlo Park, CA)  --  Meta will soon allow kids to chat in virtual reality. The company revealed the move Wednesday and noted it's only for those between the ages of ten and 12-years-old, and they must have their parents approval. The tech giant also notes that parents have the final say when their child is looking to add a contact to their profile. This comes after Meta CEO Mark Zuckerburg appeared before a Senate hearing earlier this year in regards to potential harmful affects social media has on teenagers. It's unclear when the new feature will be available. 

>>$500 Million Severance Case Against Elon Musk Dismissed

(San Francisco, CA)  --  A five hundred million dollar severance lawsuit brought by former Twitter employees against Elon Musk has been dismissed. A U.S. District Court Judge in San Francisco ruled that she lacked jurisdiction because the federal Employee Retirement Income Security Act governing benefit plans did not cover the former employees' claims.  The suit alleged that Musk owed fired workers millions of dollars in severance.  It is unclear if the claimants will amend their suit or bring it to a higher court on appeal. 

>>Most Job Scam Victims Lose Two-Thousand Dollars On Average To Criminals

(New York, NY)  --  Employment scams are on the rise and criminals are using artificial intelligence to steel personal information and money from unsuspecting job seekers. According to the Federal Trade Commission, job scams are up 118-percent from a year ago.  Thieves post fake job listings on reputable websites like LinkedIn to lure applicants, they then steal valuable information during the "interview" process.  The main danger is divulging personal information like Social Security numbers, driver licenses or bank account details.  Consumers reported losing over 300-million-dollars to job scams in 2022.  Experts say to be wary of something that sounds too good to be true and remember only limited personal information is required during an application process.
 

>>Select Safeway and Albertson's stores in Bend and Redmond may be sold.

(Undated) -- Kroger and Albertson's on Tuesday released a list of stores the companies plan to sell, if a merger between the grocery giants wins approval from regulators. The merger was announced in 2022 but the Federal Trade Commission sued to stop earlier this year. USA Today has posted a full list of the nearly 600 stores that would be impacted. Two stores in Bend are on that list: Albertsons — 61155 S Hwy 97, and Safeway — 2650 NE Hwy 20. The Safeway at 1705 S Hwy 97, in Redmond will also be sold.

>>Powell: Inflation Not Only Risk To Our Economy

(Washington, DC) -- The Federal Reserve says high inflation isn't the only risk the economy faces. As part of his annual address to Congress, Fed chair Jerome Powell told a Senate committee on Tuesday he wants to see more evidence inflation is cooling before cutting interest rates, but added that waiting too long to could hurt the economy and the labor market. He said new numbers showing unemployment rising slightly may prompt rate cuts sooner. Powell said the Fed will need to examine more economic data before making a rate cut decision. He's set to deliver those same opinions to a House committee today.

>>New "Smishing" Attack Targets iPhone Users

(Cupertino, CA) -- Another day, another privacy concern. A "smishing" attack could target your iPhone. "Smishing" is the term used for phishing attacks sent via text message. They appear to be trying to get users' Apple ID logins, according to Macworld and 9to5Mac. Apple users are reportedly receiving texts claiming to be from service representatives with a website link to what looks like an iCloud login. The website even includes a CAPTCHA, which could appear to lend legitimacy to it.

>>Judge In Musk Pay Package Case Considers Fee Request

(Wilmington DE) -- Lawyers who successfully argued that a massive 2018 pay package for Tesla CEO Elon Musk should be voided are asking a judge to award them seven billion dollars in fees. The amount, should it be approved, would come in the form of stock in the electricity vehicle company. A judge in Delaware heard arguments on Monday but ended the day with no indication on when a ruling could be expected.

>>Stocks Close Mixed Ahead Of Key Inflation Data

(New York, NY) -- Wall Street closed mixed Monday ahead of this week's key inflation data. Stocks waivered after opening higher as investors await the start of second-quarter earnings season in the coming days. Thursday's release of the consumer price index may improve the chances of Fed rate cut if the reading shows improvement in June. At the closing bell, the Dow Jones Industrial Average lost 31 points to 39-344. The S&P 500 added 5 points to 55-72, a new record close. The Nasdaq gained 50 points to 18-403, also a record.

>>Boeing In Talks With Pentagon Over Guilty Plea

(Arlington, VA) -- Boeing is in talks with the Defense Department about how the aircraft maker's guilty plea could impact its massive government contracts. The Justice Department announced this week that Boeing agreed to plead guilty to a conspiracy fraud charge over an investigation into two fatal 737 MAX crashes in 2018 and 2019 that left more than 300 people dead. The plea could cause problems with the company's ability to secure government contracts, a key part of its business worth billions.

>>Hyundai Accused Of Inflating Sales Figures

(Chicago, IL) -- A number of Hyundai dealers are suing the South Korean carmaker, claiming the company inflated sales for electric vehicles and punished dealers that wouldn't participate in the deception. The lawsuit, filed in Chicago, said Hyundai put pressure on dealers to misuse inventory codes to make it seem like more EVs were being sold. The suit goes on to say that those who cooperated were given price discounts and other rewards. The company is accused of hyping up its sales numbers for investors.

>>Prevalence And Sophistication Of Online Romance Scams Increasing

(New York, NY) -- Consumers lost over a billion dollars to romance scams in 2023. That's according to the Federal Trade Commission. The FTC found that about 40-percent of people who said they lost money to a romance scam in 2022 said the contact started on social media. Median losses per person amounted to two-thousand dollars, and almost three-quarters of those who had scammed were men. So-called romance scams involve building a relationship and trust with the victim so that the target willingly provides access to their accounts or transfers money to the criminal. If you suspect a romance scam you can report it to the FTC at ReportFraud.ftc.gov, or by contacting the F.B.I.

>>Target To Stop Accepting Personal Checks

(Minneapolis, MN) -- Target will soon stop accepting personal checks as payment. The retail giant says the policy takes effect starting July 15th and noted stores will still accept cash and digital wallet payments along with debit and credit cards. Target said the decision was due to "extremely low volumes" of checks being written, adding that it remains committed to creating an easy and convenient checkout experience.

>>Stocks Close Higher, S&P 500, Nasdaq Hit Records

(New York, NY) -- Wall Street closed higher Friday to cap the holiday shortened trading week. Stocks rose with the S&P 500 and tech-heavy Nasdaq posting new records after the release of the June jobs report. The slightly better-than expected numbers helped raise expectations of a Federal Reserve rate cut in September. At the closing bell, the Dow Jones Industrial Average gained 67 points to 39-375. The S&P 500 added 30 points to 55-67. The Nasdaq climbed 164 points to 18-352.

>>Economy Added 206,000 Jobs In June

(Undated) -- The June jobs report came in just slightly better than expected. The Labor Department's report out today shows the economy added 206-thousand new jobs last month. That's better than the roughly 200-thousand projected, but down from the previous month. That number initially came in at 272-thousand, but was significantly revised to 218-thousand for May. Last month's unemployment rate ticked up from four-percent to four-point-one percent, making it the highest since late 2021.

>>Skydance, Paramount, Agree To Merger

(Santa Monica, CA) -- Skydance Media and Paramount Global are agreeing to merge. The announcement came late Sunday that Shari Redstone will sell her family's controlling stake in Paramount. The move comes as Paramount has been struggling with its traditional television business and looking to make cuts. A Skydance investor group will be putting up several billion dollars in the merger. The deal still faces regulatory approval.

>>Boeing To Plead Guilty To Criminal Fraud

(Arlington, VA) -- Boeing will plead guilty to criminal fraud over two fatal 737 Max airplane crashes, one in 2018 and one in 2019. The Justice Department said Sunday the aircraft maker violated a 2021 settlement that protected the company from prosecution. Boeing also agreed to pay a 243-million fine. An independent compliance monitor will oversee the company for three years. The company will also have to invest more than 450 million dollars for safety and compliance programs.

>>What To Watch In The Coming Business Week

(Undated) -- Coming up in the business week ahead, things start off Monday with word on consumer credit. On Tuesday, Fed Chairman Jerome Powell is scheduled to testify before the Senate Committee on Banking, Housing, and Urban Affairs. He'll be delivering the Federal Reserve's semi-annual monetary policy report. Powell returns the following day to do the same thing for the House Financial Services Committee. Weekly jobless claims are due Thursday with just a slight increase expected. The consumer price index - one of the most popular measures of inflation - will also be released. The week winds up Friday with the producer price index.

>>Abigail Disney Will Stop Donating To Dems Unless Biden Is Replaced

(Washington, DC) -- An heiress of Disney says she'll stop donating to Democrats unless President Biden is replaced on the Presidential ticket. Abigail Disney told CNBC she intends to stop any contributions to the party until Biden drops out, but said she means no disrespect. Disney said Biden is a good man and served the country admirably, but the stakes for this election are too high. She said if Biden doesn't remove himself, the Democrats will lose and the consequences will be dire. The Hill reports Disney is a big Democratic donor, having contributed almost two-million-dollars to candidates, committees and groups since 1992.

>>"Despicable Me 4" Dominates Weekend Box Office

(Hollywood, CA) -- "Despicable Me 4" is soaring to the top of the box office this weekend. Illumination's latest sequel in their hit animated franchise released on Wednesday, pulling in 122-point-six-million dollars over the holiday weekend. Hotly-anticipated Pixar sequel "Inside Out 2" finished second with 30-million dollars. "A Quiet Place: Day One" placed third with an estimated total of 21-million dollars. Meanwhile, A-24's newest film "MaXXXine" opened below expectations, only earning six-point-seven-million despite being the final installment of a popular horror trilogy. "Bad Boys: Ride or Die" rounded out the top five with six-point-five-million.

>>Stocks Close Higher, S&P 500 Hits Fresh Record

(New York, NY) -- Wall Street closed higher Tuesday with the S&P 500 finishing above 55-hundred for the first time. Stocks rose after Federal Reserve Chair Jerome Powell noted progress on inflation. In remarks to a European banking forum, Powell also cautioned the central bank needs to be "more confident" before cutting interest rates. Markets close early on Wednesday and remain closed for the Fourth of July. At the closing bell, the Dow Jones Industrial Average gained 162 points to 39-331. The S&P 500 rose 33 points to 55-09. The Nasdaq climbed 149 points to 18-028

>>Powell: Progress Made On Inflation But More Needs To Be Done

(Washington, DC) -- Federal Reserve Chair Jerome Powell says the U.S. is making progress on inflation. During a panel discussion at a conference in Portugal, Powell expressed satisfaction with the progress on inflation over the past year but said he wants to see more before cutting interest rates. He said cutting rates too soon could set the central bank back from its goal to bringing inflation down to two-percent.

>>FDA Approves Eli Lilly Alzheimer's Drug

(Washington, DC) -- The FDA has approved a new Alzheimer's drug. The new treatment by Eli Lilly will be sold under the brand name Kisunla, and was approved Tuesday by the FDA after outside experts said the benefits of the drug outweighed its risks. The drug is designed to clear the brain of an Alzheimer's-related protein called beta amyloid. In a late-stage trial, the drug slowed the progression of memory problems by 29% compared with a placebo. Lilly is charging about 700-dollars a vial for the drug, or 32-thousand dollars for a 12-month treatment.

>>Report: A.I Start-Ups Are Booming

(New York, NY) -- A new report says investors are pouring billions into A.I. start-ups. PitchBook is a platform that keeps track of new tech companies, and says while many have gone out of business over the past two years, the A.I. boom is stronger than ever. It says investors poured over 27-billion dollars into American A.I. start-ups from April to June, accounting for nearly half of all U.S. start-up funding for that period.

>>GM Reports Best Quarterly Sales Since 2020

(Detroit, MI) -- General Motors is reporting its best quarterly sales since 2020. The Detroit automaker said today sales of full-size pickup trucks led the way with all electric vehicles also showing a notable increase. GM reported total sales of more than 696-thousand vehicles during the second quarter. Still, sales through the first half of the year were down slightly compared to last year.

>>Skydance Reaches Tentative Deal To Merge With Paramount

(Undated) -- Skydance Media has reached a tentative agreement to merge with National Amusements, the parent company of Paramount. Skydance has been pursuing the deal for months, however discussions seemed to abruptly end in mid-June after the owner of National Amusements refused to sell her controlling stake. However, on Tuesday it was announced Skydance has made preliminary agreements to buy the company, and the new deal has been given to a Paramount special committee for review.

>>Financial Experts Advise Planning Ahead And Sticking To A Budget To Save Money While On Vacation

(New York, NY) -- Americans are traveling this summer and accumulating debt in order to do it. According to Bankrate, 36-percent of Americans say they plan to take on debt in order to travel this summer. Twenty-six-percent of those summer travelers say they intend to use a credit card to pay for the vacation over multiple billing cycles. With the average credit card charging over 20-percent interest at the moment, this is worrisome to many financial experts, as it represents a lot of people taking on expensive debt. Millennials and Gen Z-er's are the demographics most likely to say they plan to go into debt to pay for vacation.

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning on Wall Street after stocks closed slightly higher to start the new month.  Technology shares trended higher, but gains were muted as Treasury yields soared.  Cruise line stocks struggled as Hurricane Beryl churned in the Caribbean.  At the closing bell, the Dow Jones Industrial Average rose 50 points to 39-169.  The S&P 500 gained 14 points to 54-75.  The Nasdaq climbed 146 points to 17-879.  

>>Coming Up In The Holiday-Shortened Business Week 

(Undated)  --  Coming up in the business week - today brings data on construction spending.  Things start to rev up on Tuesday with auto sales numbers, word on job openings and remarks from Fed Chair Jerome Powell at the ECB Forum on Central Banking.  New York Fed President John Williams speaks the following day at the same event.  ADP will also release its employment report on Wednesday and we'll get word on the Fed's June meeting as well as weekly jobless claims - released a day earlier due to the July 4th holiday.  Friday brings the monthly jobs report with most analysts expecting a decline from the previous month.

>>Boeing Acquires Spirit AeroSystems In 4.7 Billion Dollar Deal

(Arlington, VA)  --  Boeing is acquiring Spirit AeroSystems for four-point-seven billion dollars. The plane manufacturer has long outsourced some of its production to Spirit, but as it looks to improve its safety record, the move could give it more control of the process. This comes as Boeing faces scrutiny from federal regulators and the Justice Department after incidents including a door plug blowing off during an Alaska Airlines flight in January.  Boeing CEO said "this deal is in the best interest of the flying public." 

>>Cookout Price Up

(Undated)  --  The price of a Fourth of July cookout is higher this year.  A report from the American Farm Bureau Federation puts the average cost of feeding 10 people at 71-dollars-and-22 cents.  That's about three-and-a-half-bucks more than last year.  

>>CA Restaurants Get Surcharge Reprieve

(Sacramento, CA)  --  California Governor Gavin Newsom is giving restaurants a year to comply with a new state law. Restaurants may continue to put surcharges on a bill as long the amount is clearly stated on the menu. The governor signed an emergency bill this past weekend that exempts restaurants from the ban on hidden fees. Other businesses such as concert venues, hotels and Airbnb locations must reveal the total price upfront.

>>Tom Petty Estate Signs Deal With Warner Chappell Music 

(Los Angeles, CA)  --  Tom Petty's estate is signing a deal to distribute the late singer's music catalog. Petty recorded more than 13 studio albums with the Heartbreakers and three solo albums over his 40-year career. The Petty Estate said in a statement that the deal with Warner Chappell Music "will open the door to new licensing opportunities."

>>Construction Spending Slows In May

(Washington, DC)  --  Construction spending fell slightly in May.  New government figures show total spending on construction dipped a tenth of a percent to an annual rate of just over two-trillion dollars in May.  The decline surprised industry experts who were expecting a slight increase.  Private residential construction fell two-tenths percent as builders scaled back projects nationwide as interest rates remain high. 
 

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after a lower close Friday on Wall Street.  Stocks slipped after trending higher in early Friday trading as new data showed inflation slowing to its lowest annual rate in more than three years.  At the closing bell, the Dow Jones Industrial Average dropped 45 points to 39-118.  The S&P 500 lost 22 points to 54-60.  The Nasdaq fell 126 points to 17-732.  

>>Coming Up In The Business Week 

(Undated)  --  Coming up in the business week - today brings data on construction spending.  Things start to rev up on Tuesday with auto sales numbers, word on job openings and remarks from Fed Chair Jerome Powell at the ECB Forum on Central Banking.  New York Fed President John Williams speaks the following day at the same event.  ADP will also release its employment report on Wednesday and we'll get word on the Fed's June meeting as well as weekly jobless claims - released a day earlier due to the July 4th holiday.  Friday brings the monthly jobs report with most analysts expecting a decline from the previous month.

>>Judge Blocks New Overtime Rule

(Sherman, TX)  --  A federal judge in Texas is temporarily blocking a Biden Administration plan to extend overtime pay to around four million salaried workers.  A new Labor Department rule passed in April requires overtime pay to salaried workers who earn less than 58-thousand-600-dollars a year.  Currently, the limit is 35-thousand-500-dollars, set in 2019.  Texas sued over the new rule and the judge on Friday put it on hold while the challenge works through the courts.  

>>FCC Proposes New Phone Unlocking Rule

(Washington, DC)  --  The FCC is looking to make it easier for consumers to unlock their cell phones.  The agency unveiled a proposal last week that addresses when customers are looking to switch providers and they have to have their current phone unlocked.  The new rule would require those companies to free up devices within 60 days of activation. Currently, there is no timetable for providers to do so.  If approved, the FCC says it would ease headaches for consumers trying to switch plans, and bump up competition in the marketplace. An open meeting on the proposal is set for next month. 

>>CA High Speed Rail Gets Environmental Approval

(Sacramento, CA)  --  California's high speed rail project is marking a milestone.  The final segment waiting for the green light between Los Angeles and San Francisco got it just last week.  That means the entire 463-mile route is now environmentally cleared for construction.  

>>Buffett Changes Plans For His Fortune

(Omaha, NE)  --  Warren Buffett is changing the plans for his fortune after his death.  The Berkshire Hathaway CEO has established a new charitable trust that will be overseen by his three children.  The 93-year-old Buffett has earmarked about 99-percent of his wealth for philanthropic purposes once he dies.  Buffett noted that the Bill and Melinda Gates Foundation will no longer receive any of his money after his death.