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Nvidia’s Stock Surges, Beats Microsoft to Crown It Wall Street’s Most Valuable Company

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Nvidia’s Stock Surges, Beats Microsoft to Crown It Wall Street’s Most Valuable Company

Nvidia’s staggering stock run carried it to the market’s mountaintop on Tuesday, as it became the most valuable company on Wall Street. The chipmaker’s shares rose 3.5%, lifting its total market value further above $3 trillion and grabbing the top spot from Microsoft, which had been trading the crown back and forth with Apple.

Nvidia’s ascent is driven by the wave of artificial intelligence (AI), with its chips playing a crucial role in developing the technology. The company’s revenue routinely triples every quarter, and its profit is skyrocketing at even more breathtaking rates. Nvidia’s stock is up nearly 174% this year and has been responsible for nearly a third of the S&P 500’s entire gain through May.

Stock Indexes Edge Up to More Records

Meanwhile, stock indexes ticked to more records following the latest signal that the U.S. economy’s growth may be slowing without cratering. The S&P 500 added 0.3% to set an all-time high for the 31st time this year, while the Nasdaq composite edged up by less than 0.1% to set its own record. The Dow Jones Industrial Average added 56 points, or 0.1%.

Treasury Yields Fall After Retail Sales Data

Stocks broadly got a lift from easing yields in the bond market. Treasury yields fell after a report showed sales at U.S. retailers returned to growth last month but remained below economists’ expectations. This could be an encouraging signal for the Federal Reserve, which is trying to slow the economy just enough through high interest rates to get inflation under control without triggering a painful recession.

Mixed Corporate News

In corporate news, homebuilder Lennar fell 5% after citing “challenged consumer sentiment” and swings in interest rates as challenges. Electric-vehicle maker Fisker more than halved to 2 cents after filing for Chapter 11 bankruptcy protection. On the winning side, La-Z-Boy jumped 19.4% after reporting stronger profit and revenue than expected, and Silk Road Medical surged 24% after agreeing to be acquired by Boston Scientific for roughly $1.26 billion.

Global Markets Recover

In stock markets abroad, indexes continued to recover in Europe following last week’s rout, with France’s CAC 40 rising 0.8% for a second straight gain. In Asia, Japan’s Nikkei 225 rose 1%, and heavyweight Toyota Motor climbed after its shareholders rejected a proposal to force the automaker’s chairman to leave his post.

As Nvidia’s star continues to rise and stock indexes reach new heights, investors will closely monitor the U.S. economy’s growth trajectory and the Federal Reserve’s interest rate decisions in the coming months.

AP

Ukraine Admits to Drone Attack on Russian Oil Facility, Causing Massive Blaze

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Ukraine Admits to Drone Attack on Russian Oil Facility, Causing Massive Blaze

In a significant escalation of cross-border strikes, Ukraine claimed responsibility for an overnight drone attack on a Russian oil facility in the Rostov region, which sparked a massive blaze. The attack is the latest in a series of long-range aerial assaults by Kyiv’s forces targeting Russian soil, aimed at hindering the Kremlin’s war efforts.

Russian fire servicemen putting out fire caused by the drone attack.

According to a Ukrainian official speaking anonymously due to lack of authorization to share the information with the media, the attack was a special operation conducted by Ukraine’s Security Service (SBU). The drones targeted two Rostov oil depots housing 22 oil reservoirs. Kyiv officials typically refrain from commenting on attacks within Russian territory, although they sometimes make oblique references to them.

The blaze, which covered an area of 5,000 square meters (55,000 square feet), was attended to by more than 200 firefighters, as stated by Rostov Governor Vasily Golubev. Russia’s Emergencies Ministry reported no casualties resulting from the attack.

Russian fire servicemen putting out fire caused by the drone attack.

Ukraine has been incrementally increasing the range of its drone capabilities over the past few months, as it seeks to compensate for its battlefield disadvantages. These unmanned aerial vehicles provide an affordable option for Kyiv while it awaits the arrival of more substantial Western military aid.

The escalation of aerial assaults on Russian soil comes as Moscow’s army presses hard along the front line in eastern Ukraine, where a shortage of troops and ammunition in the third year of the war has left defenders vulnerable.

Russian fire servicemen putting out fire caused by the drone attack.

As the conflict continues, Ukraine’s use of drones to target Russian infrastructure and slow down the Kremlin’s war machine is likely to remain a key strategy. The international community will closely monitor the implications of these cross-border strikes and their potential impact on the ongoing conflict.

AP

Russian President Vladimir Putin Makes Rare Visit to North Korea, Strengthening Ties with Old Ally

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Russian President Vladimir Putin Makes Rare Visit to North Korea, Strengthening Ties with Old Ally

Russian President Vladimir Putin arrived in North Korea early on Wednesday for a rare visit, aiming to strengthen cooperation with the country’s leader, Kim Jong Un, in the face of intensifying confrontations with the United States. The visit, Putin’s first to North Korea in 24 years, comes amid growing concerns about an arms arrangement between the two nations.

Upon his arrival in Pyongyang, Putin was greeted by Kim at the airport, where they shook hands and embraced. The North Korean leader personally guided Putin to the Kumsusan State Guest House, a gesture described by the Korean Central News Agency as a historic event demonstrating the “invincibility and durability” of the two nations’ friendship and unity.

In comments published by North Korean state media hours before his arrival, Putin expressed his appreciation for the country’s firm support of his military actions in Ukraine, which Russia invaded in 2022. He emphasized the countries’ shared goal of opposing Western ambitions to hinder the establishment of a multipolar world order based on justice, mutual respect for sovereignty, and consideration of each other’s interests.

The visit has raised concerns about a potential arms deal, in which North Korea would provide Russia with much-needed munitions for its war in Ukraine in exchange for economic assistance and technology transfers that could enhance the threat posed by Kim’s nuclear weapons and missile program.

In Pyongyang, the streets were adorned with portraits of Putin and Russian flags, with a banner on a building welcoming the Russian President. Putin also stated that Russia and North Korea would develop trade and payment systems not controlled by the West and jointly oppose sanctions against their countries, which he described as “illegal, unilateral restrictions.”

Both North Korea and Russia are grappling with economic sanctions imposed by the United States and its Western partners. North Korea is under heavy U.N. Security Council sanctions due to its nuclear weapons and missile programs, while Russia faces sanctions over its aggression in Ukraine.

Putin, accompanied by top officials including Deputy Prime Minister Denis Mantrurov, Defense Minister Andrei Belousov, and Foreign Minister Sergey Lavrov, is expected to sign several documents during the visit, possibly including an agreement on a comprehensive strategic partnership.

U.S. and South Korean officials have noted a sharp increase in military, economic, and other exchanges between North Korea and Russia since Kim and Putin’s meeting in September 2019 in the Russian Far East.

As the two leaders seek to strengthen their ties and counter U.S.-led sanctions, the international community will closely monitor the developments and potential implications of this rare visit.

AP

Texas Megachurch Pastor Robert Morris Steps Down After Admitting to ‘Sexual Behavior’ with a Child

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Texas Megachurch Pastor Robert Morris Steps Down After Admitting to ‘Sexual Behavior’ with a Child

Robert Morris, the 62-year-old founder and senior pastor of Gateway Church in Southlake, Texas, has resigned from his ministry following allegations that he sexually abused a 12-year-old girl in the 1980s. The accusations come from former family friend Cindy Clemishire, who claims the abuse occurred between 1982 and 1987 when she was between the ages of 12 and 16.

Robert Morris, the 62-year-old founder and senior pastor of Gateway Church in Southlake, Texas.

Morris, who previously admitted to “inappropriate sexual behavior with a young lady” without specifying Clemishire’s age, has made no public statement since his resignation. Gateway Church’s Board of Elders accepted Morris’ resignation on Tuesday, issuing a blistering statement condemning his actions and expressing their “deep sympathy to the victim and her family.”

The church, which claims a weekly attendance of 100,000, had initially backed Morris, stating that he had been “open and forthright about a moral failure he had over 35 years ago.” However, after discovering the victim’s age, they now deem his behavior unacceptable. The church has hired an independent law firm to review the accusations.

Pastor Morris recently hosted Trump in his church.

Clemishire, now 54, went public with her accusations and revealed her identity on Friday. She alleges that the abuse began in December 1982 when Morris, then a traveling preacher, stayed at her family home in Tulsa, Oklahoma. She recounts a disturbing incident in which Morris touched her inappropriately, telling her she could never tell anyone because it would “ruin everything.”

Morris, in a statement to The Christian Post on Saturday, admitted to “inappropriate sexual behavior” involving “kissing and petting” with a “young lady” but did not acknowledge Clemishire’s underage status at the time. He claims to have repented in 1987 and received counseling, stating that Clemishire’s family had forgiven him.

Randy Pastor Morris confessed to the act years ago and apologized to victim and her family.

Clemishire disputes Morris’ account, asserting that he never had her family’s blessing to return to ministry and that his statement lacks true repentance. She previously sued Morris in 2005, seeking $50,000 for therapy costs, but did not accept a $25,000 settlement offer that included signing an NDA.

Pastor Morris in black suit.

Morris, who was part of Donald Trump’s “evangelical advisory board” during his 2016 presidential campaign, was never criminally charged, and the statute of limitations has expired. Clemishire has hired attorney Boz Tchividjian, grandson of evangelist Billy Graham, to represent her in a potential new lawsuit.

As the church grapples with the fallout of these revelations, Clemishire hopes that her story will bring freedom to other victims and ultimately lead to something good for the church and God’s glory.

Dailymail.com

Conor McGregor Not in Rehab, Despite Chael Sonnen’s Allegations

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Conor McGregor Not in Rehab, Despite Chael Sonnen’s Allegations

UFC superstar Conor McGregor is not currently receiving treatment for substance abuse, contrary to the claims made by Chael Sonnen on his “Good Guy/Bad Guy” show with Daniel Cormier. A representative for McGregor has firmly denied the allegations, stating that the fighter’s withdrawal from his bout against Michael Chandler was due to an injury sustained during training.

During the show, Sonnen, known as the American Gangster, suggested that McGregor’s reason for backing out of the fight was not the injury he claimed, but rather a stint in rehab. Sonnen and Cormier discussed the irony of both McGregor and Chandler having massive interests in alcohol products, with Sonnen hinting that one side was “in the middle of rehab for substance abuse, including alcohol.”

Sonnen went on to make several thinly veiled references to McGregor, mentioning his Proper No. 12 whiskey and joking about being in a “proper facility” watching himself not have drinks. He also claimed that people around McGregor have been “sworn to secrecy” about the real reason behind the fight cancellation.

However, McGregor’s representative, Karen Kessler, was quick to shut down Sonnen’s accusations. “The fight was cancelled after an injury he sustained during training,” Kessler told TMZ Sports. “He is looking forward to a new date.”

The cancellation of the highly anticipated fight between McGregor and Chandler has raised many questions, including the extent and nature of McGregor’s injury. While Chandler has expressed his disappointment in an emotional video, McGregor’s social media accounts have remained active, although this does not necessarily prove his personal involvement in the posts.

As speculation continues to swirl around the reasons behind the fight cancellation, fans and the MMA community await further updates on McGregor’s condition and the rescheduling of the bout. The UFC superstar’s representative remains adamant that the cancellation was due to an injury and not any substance abuse issues or rehab, as suggested by Chael Sonnen.

TMZ

Police Release Mugshot of Justin Timberlake After Arrest for Drink-Driving in New York

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Police Release Mugshot of Justin Timberlake After Arrest for Drink-Driving in New York

Pop star Justin Timberlake’s mugshot has been released after he was charged with drink-driving in Sag Harbor, Long Island, New York. The 43-year-old singer was reportedly having dinner with friends before leaving a restaurant and being pulled over by police at 12:37 am on Tuesday.

According to Sag Harbor Police Chief Robert Drake, Timberlake failed to stop at a stop sign and was unable to stay in his lane while driving a 2025 BMW. Court documents revealed that the singer’s eyes were “bloodshot and glassy” when he was pulled over, and officers noted a strong odor of an alcoholic beverage emanating from his breath. Timberlake also displayed slowed speech, was unsteady on his feet, and performed poorly on all standardized field sobriety tests.

Mugshot of Justin Timberlake after arrest for DUI in New York.

The “SexyBack” singer told officers he had consumed one martini and was following some friends home. He refused to take a breath test after being arrested and taken to a police station in nearby East Hampton. Timberlake was arraigned later on Tuesday in Sag Harbor and released, with his next court date scheduled for July 26.

Timberlake’s representatives have not yet responded to requests for comment on the incident.

The arrest comes as Timberlake is in the midst of his “The Forget Tomorrow World Tour,” with upcoming dates in Chicago, New York, Boston, Baltimore, and Cleveland. He is also set to perform in Europe later this summer, starting in Krakow, Poland, on July 26, before moving on to Birmingham, Manchester, and London in August.

Timberlake rose to fame as a member of the popular boy band NSYNC and has since enjoyed a successful solo career, winning 10 Grammy awards and four Primetime Emmy Awards. He has also garnered acclaim for his acting roles in movies such as “The Social Network” and “Friends With Benefits.”

The singer’s personal life has been in the spotlight recently, following the release of his ex-girlfriend Britney Spears’ memoir, “The Woman In Me,” which includes intimate details about their relationship and breakup.

As the legal process unfolds, fans and the public await further developments in Timberlake’s drink-driving case.

News.Sky.com

Portugal Emerges Victorious in Dramatic Euro 2024 Match Against Czech Republic

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Portugal Emerges Victorious in Dramatic Euro 2024 Match Against Czech Republic

Portugal has secured a hard-fought 2-1 victory over the Czech Republic in a Euro 2024 match that burst into life in the final 30 minutes. The Portuguese side managed to prevail in a game that kept fans on the edge of their seats until the very last seconds.

The match reached a dramatic climax in the dying moments, with Lingr nearly equalizing for the Czech Republic in the 94th minute. The Leipzig Stadium held its collective breath as Lingr’s header looped agonizingly wide of the goal. However, the Czech player was ultimately flagged for offside, and Portugal was able to breathe a sigh of relief as the final whistle blew.

Francisco Conceicao, the 21-year-old substitute who scored Portugal’s winning goal, received a yellow card for his exuberant celebrations. The young player removed his shirt in the heat of the moment, earning a booking from the referee. Despite the caution, Conceicao is unlikely to be fazed by the yellow card, as his goal proved to be the decisive moment in the match.

The victory was a crucial one for Portugal, who had to dig deep to overcome a determined Czech Republic side. The Czechs had fought back from a goal down to equalize, setting up a tense finale to the match.

Portugal’s ability to find a winner in the closing stages of the game demonstrates their resilience and quality, as they continue their Euro 2024 campaign with a valuable three points. The Portuguese side will undoubtedly be buoyed by this hard-earned victory, which showcases their ability to grind out results even in the face of adversity.

As the dust settles on this thrilling encounter, Portugal can look ahead to their upcoming matches with confidence, knowing that they have the character and determination to succeed at the highest level. The Czech Republic, despite the defeat, can hold their heads high after pushing Portugal all the way in a closely contested match.

The Euro 2024 tournament promises to deliver more drama and excitement as it progresses, with teams battling it out for supremacy on the European stage. Portugal’s victory over the Czech Republic serves as a reminder that every match counts, and that the slightest margin can make all the difference in the pursuit of glory.

Czechia Scores Stunning Goal to Take Surprise Lead Against Portugal in Euro 2024 Clash- It’s 1-1

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Czechia Scores Stunning Goal to Take Surprise Lead Against Portugal in Euro 2024 Clash- It’s 1-1

Czechia has taken a shock lead against Portugal in their Euro 2024 match, despite Cristiano Ronaldo being denied three times as he plays in a record sixth Euros. The unexpected goal has left the Portuguese side shellshocked and struggling to maintain possession.

Lukas Provod was the hero for Czechia, curling a beautiful shot into the far corner from outside the area after receiving a pass from Vladimir Coufal. The goal came as a surprise, as it was one of Czechia’s first chances of the match.

Portugal’s manager, Roberto Martinez, responded swiftly to the setback with a double substitution, bringing on Diogo Jota and Goncalo Inacio to replace Rafael Leao and Diogo Dalot. The changes were made in an attempt to regain control of the game and find an equalizer.

The shock lead for Czechia was not in the script for Portugal, who had been dominating the match up until that point. Cristiano Ronaldo, playing in his record sixth Euros, had been denied three times by the Czechia defense and goalkeeper.

Portugal’s Equalizer Comes Quickly Through Hranac Own Goal

However, Portugal’s response was swift, as they found an equalizer just seven minutes later through an unfortunate own goal by Hranac. The Czechia defender inadvertently turned the ball into his own net, leveling the score at 1-1.

The own goal will come as a relief to Portugal, who had been stunned by Czechia’s sudden lead. The quick response shows the resilience and determination of the Portuguese side, who refuse to let the setback derail their Euro 2024 campaign.

With the score now level, the match has taken on a new intensity as both teams battle for supremacy. Portugal will be looking to capitalize on their momentum and take the lead, while Czechia will be hoping to regroup and find another breakthrough.

The remainder of the match promises to be a thrilling encounter, with both sides giving their all to secure a vital three points in their Euro 2024 campaign. As the game unfolds, fans around the world will be on the edge of their seats, eager to see which team will come out on top in this unexpected and dramatic clash.

Rudy Giuliani’s Bankruptcy Proceedings in Jeopardy as Government Considers Dismissal

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Rudy Giuliani’s Bankruptcy Proceedings in Jeopardy as Government Considers Dismissal

Rudy Giuliani’s bankruptcy case has hit a snag as creditors and a judge express growing concerns over his apparent stonewalling and questionable financial dealings. The U.S. Trustee’s office, a Justice Department watchdog overseeing bankruptcy cases, warned on Monday that the government may dismiss or convert his case, potentially jeopardizing his ability to seek protection over his assets.

Creditors have accused Giuliani of hiding assets and entering business deals that divert income to his businesses instead of his estate. They have asked U.S. Bankruptcy Judge Sean Lane to appoint an independent trustee to manage Giuliani’s finances, citing his “preference for delay, diversion and theatrics over progress, rehabilitation and maximization of value for his creditors.”

Former Mayor of New York Rudy Giuliani.

Giuliani’s bankruptcy filings have been riddled with inconsistencies and omissions, raising red flags among creditors and the court. His reported spending exceeds his stated income, and his cash balances at the end of one month often contradict those at the beginning of the next.

The former New York City mayor filed for bankruptcy in December after being ordered to pay $148 million to two Georgia election workers, Ruby Freeman and Wandrea “Shaye” Moss, whom he defamed with baseless allegations of election fraud in the 2020 presidential election.

Giuliani Agrees to Stop Spreading Lies About Georgia Election Workers

In a related development, Giuliani has agreed to a permanent injunction barring him from making any statements suggesting that Freeman and Moss engaged in wrongdoing during the 2020 election. The agreement, filed in federal bankruptcy court on Tuesday, comes after a jury awarded the mother and daughter $148 million in damages for defamation.

The women’s attorney, Michael J. Gottlieb, hailed the injunction as an end to Giuliani’s “efforts to profit off of lies about these two heroes of American democracy.” However, Giuliani’s spokesperson indicated that while he will refrain from commenting on Freeman and Moss specifically, he will continue to make broader claims about the 2020 election being rigged against former President Donald Trump.

Giuliani’s Law License in Jeopardy as D.C. Board Recommends Disbarment

Giuliani’s legal troubles extend beyond his bankruptcy case, as the D.C. Board on Professional Responsibility recommended on Friday that he be disbarred for his role in a lawsuit challenging Pennsylvania’s 2020 presidential election results. The board found that Giuliani sought to disenfranchise hundreds of thousands of Pennsylvania voters without any factual basis.

The recommendation is the final step before the D.C. Court of Appeals decides whether to revoke Giuliani’s law license in Washington. He is already suspended from practicing law in New York due to his involvement in efforts to overturn the 2020 election.

Giuliani’s spokesperson called the recommendation “anti-American” and claimed it was meant to discourage lawyers from representing clients like Trump who challenge the political establishment.

As Giuliani’s legal and financial woes mount, he faces an uphill battle to protect his assets and salvage his reputation. The outcome of his bankruptcy case and disciplinary proceedings will have significant implications for his future prospects.

MSNBC

Former President Donald Trump Faces Setback as New York Court Rejects Gag Order Appeal

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Former President Donald Trump Faces Setback as New York Court Rejects Gag Order Appeal

In a significant development, New York state’s highest court has rejected former President Donald Trump’s appeal against a gag order imposed by Judge Juan Merchan. The decision comes as Trump separately petitions Judge Merchan to terminate the order in the wake of his recent conviction on 34 counts of falsifying business records in the first degree.

Trump loses gag order appeal.

Trump, who opposed the gag order from the outset, contends that the restrictions should no longer apply now that his trial has concluded. The order, which was put in place to safeguard the integrity of the criminal proceedings, prohibits Trump from speaking out against witnesses, jurors, lawyers, court staff, and their families. Judge Merchan previously found Trump in violation of the order on 10 occasions.

In his motion to Judge Merchan, Trump argues that it is unjust for trial witnesses such as Michael Cohen and Stormy Daniels to be able to speak about him while he is barred from commenting on them. He further alleges that President Joe Biden seeks to exploit the gag order’s limitations, particularly during their upcoming presidential debate on June 27.

While there is a potential argument that the gag order may operate differently post-trial, the extent and nature of any changes remain subject to Judge Merchan’s decision. Trump’s sentencing is scheduled for July 11, following his conviction on all charges last month.

Court says Trump can’t talk much as he wants.

The rejection of Trump’s gag order appeal by New York’s top court marks a significant setback for the former president as he navigates the legal aftermath of his trial. The case has garnered substantial public attention and has implications for Trump’s political future, particularly as he gears up for the 2024 presidential race.

As the legal battle continues, observers eagerly await Judge Merchan’s ruling on Trump’s motion to terminate the gag order. The outcome could have far-reaching consequences for the former president’s ability to speak publicly about the case and its key players in the coming months.

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