• Goldman Sachs says this ASX gold stock is a buy

    A woman in a business suit sits at her desk with gold bars in each hand while she kisses one bar with her eyes closed. Her desk has another three gold bars stacked in front of her. symbolising the rising Northern Star share price

    Bellevue Gold Ltd (ASX: BGL) shares had a tough session on Monday.

    The ASX gold stock dropped 5% to close the day at $1.93.

    While this is disappointing for shareholders, analysts at Goldman Sachs believe it could be a buying opportunity for the rest of us.

    What is the broker saying about this ASX gold stock?

    The team at Goldman Sachs notes that Bellevue Gold achieved its production guidance in the second half of FY 2024. Though, it does concede that the gold miner fell a touch short of its estimates. It said:

    BGL reported gold production of ~43koz, in line with 2H guidance though slightly below GSe/Visible Alpha Consensus on lower mill rates as the production ramp up stabilises (commercial production declared early May).

    The broker also notes that later this month more will be revealed on its production plans for FY 2025. Goldman is expecting a large increase on FY 2024’s total production of 80k ounces. It said:

    FY25/multi-year production and cost guidance is set to be released later this month (likely around the site visit on 31st July), with BGL forecasting recoveries to improve as a more consistent stockpile blend grade is maintained (following higher stoping/mine grades in the quarter), where we factor in production/AISC of 192koz/~A$1,515/oz, respectively.

    Time to buy

    In response to the update, the broker has reaffirmed its buy rating and $2.15 price target on the ASX gold stock. Based on its current share price of $1.93, this implies potential upside of approximately 11.5% for investors over the next 12 months.

    Goldman likes the company due to its low cost production expansion opportunity and strong free cash flow generation. It explains:

    We rate BGL a Buy, where low cost expansions support production upside. On valuation, while now trading broadly in line with peers at our LT gold price of US$1,800/oz (peer average ~1.1x NAV and ~US$1,900/oz), near-term FCF yields of c. 10% in FY25/26 remain attractive vs. peers (despite ~25% of medium-term gold sales being hedged at ~A$2,700-2,900/oz). We note mine optionality supports further exploration upside, where a 5-year resource extension adds ~A$0.4bn/A$0.5bn (~20%/25%) to our valuation under a 1.2Mtpa and 1.5Mtpa processing scenario, respectively, for which we capture some upside in our nominal value.

    All in all, the broker believes this could make Bellevue Gold a good ASX gold stock to buy if you are looking for exposure to this side of the market right now.

    The post Goldman Sachs says this ASX gold stock is a buy appeared first on The Motley Fool Australia.

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    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes could be the ‘five best ASX stocks’ for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now…

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    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Why I’d still call the FANG+ ETF a buy

    Cubes placed on a Notebook with the letters "ETF" which stands for "Exchange traded funds".

    The Global X Fang+ ETF (ASX: FANG) has been a very strong-performing exchange-traded fund (ETF), but I think it still has a lot of return potential from here.

    The FANG ETF owns a portfolio of 10 of the largest and most compelling technology and tech-related businesses in the US.

    Those ten names are: Tesla, Snowflake, Amazon.com, Apple, Alphabet, Meta Platforms, Microsoft, Netflix, Broadcom and Nvidia.

    Collectively, those companies have done very well, and it’s showing for the fund’s returns.

    FANG ETF performance

    The performance of an ETF is dictated by the returns of the underlying holdings.

    This ETF was created in February 2020 and has done well since then. Since its inception, the FANG ETF has returned an average of 32.6% per annum. Over the past three years, it has returned an average of 21.4% per annum. In the last 12 months, it has returned 42%.

    Those are very strong returns. But first, we should be very clear that past performance is not a guarantee of future performance or even a reliable indicator of future returns.

    When share prices rise rapidly, it could mean that the subsequent shorter-term returns aren’t quite as good because the returns may have been front-loaded.

    The annual management fee of the FANG ETF is just 0.35%, so the costs aren’t too much of a detractor.

    Why I think good returns can continue

    These stocks have been significant drivers of the US share market and the global share market.

    Many of them are at the forefront of new products and services, with excellent tailwinds that seem nowhere near finished blowing.

    The global digitalisation of business operations is very helpful for the cloud computing operators of Microsoft (Azure), Alphabet (Google Cloud) and Amazon (AWS).  

    The growth of online video has been huge for Netflix, and it also benefits Alphabet (YouTube) and some of the other FANG ETF holdings to a lesser extent.

    AI has already been a huge growth area for Nvidia, Microsoft, and Alphabet. I think it could be an important earnings driver over the next few years.

    Automated cars could be one of the next major growth runways that these businesses unlock. Alphabet’s Waymo is already providing driverless taxi rides, while Tesla is still working on it.

    Augmented reality and virtual reality could be another earnings driver for some of these stocks, including Meta Platforms and Apple.

    Foolish takeaway

    The FANG ETF owns many of the stocks benefiting from global technological changes. While valuations can sometimes get ahead of themselves, these stocks are delivering more and more profit as the years go by, justifying higher share prices.

    This fund certainly doesn’t look cheap, but I wouldn’t be surprised if it beats the S&P/ASX 200 Index (ASX: XJO) over the next five years because of the collective earnings growth potential of those US shares.

    The post Why I’d still call the FANG+ ETF a buy appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

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    Scott just revealed what he believes could be the ‘five best ASX stocks’ for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now…

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    Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Netflix, Nvidia, Snowflake, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Broadcom and has recommended the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool Australia has recommended Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Netflix, and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • 5 things to watch on the ASX 200 on Tuesday

    On Monday, the S&P/ASX 200 Index (ASX: XJO) continued its charge and reached a new record close. The benchmark index rose 0.75% to 8,017.6 points.

    Will the market be able to build on this on Tuesday? Here are five things to watch:

    ASX 200 expected to fall

    The Australian share market is expected to fall on Tuesday despite a decent start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 16 points or 0.2% lower. On Wall Street, the Dow Jones rose 0.5%, the S&P 500 climbed 0.3%, and the Nasdaq pushed 0.4% higher. All three indices closed at record highs.

    Rio Tinto update

    Rio Tinto Ltd (ASX: RIO) shares will be on watch on Tuesday when the mining giant releases its second quarter update. Goldman Sachs expects the company to fall short of consensus estimates with its iron ore shipments. It said: “[W]e expect RIO’s 2Q Pilbara iron ore shipments of 79Mt vs Consensus 82Mt as a result of train derailment early in the Q.” However, it thinks Rio Tinto will maintain its full year guidance. It adds: “We think RIO can make up the lost shipments in 2H and we model 330Mt (vs. 332Mt in 2023), in the middle of the 323-338Mt guidance range.”

    Oil prices soften

    It could be a subdued session for ASX 200 energy shares such as Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) after oil prices softened overnight. According to Bloomberg, the WTI crude oil price is down 0.4% to US$81.88 a barrel and the Brent crude oil price is down 0.25% to US$84.81 a barrel. A stronger US dollar weighed on oil prices.

    Nanosonics rated as a hold

    The Nanosonics Ltd (ASX: NAN) share price is almost fully valued according to analysts at Bell Potter. In response to the infection prevention company’s second half trading update, the broker has retained its hold rating with an improved price target of $3.45. This implies potential upside of 4.2% from current levels. It said: “Pleasing to see volumes rebounding after a difficult period in 1H24 where the market for capital sales in the US hospital system was very tight. We maintain our Hold rating.”

    Gold price rises

    ASX 200 gold miners Gold Road Resources Ltd (ASX: GOR) and Regis Resources Limited (ASX: RRL) could have a good session on Tuesday after the gold price rose overnight. According to CNBC, the spot gold price is up 0.25% to US$2,426.6 an ounce. Traders were buying gold after the US Federal Reserve indicated that rate cuts could be coming very soon.

    The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

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    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Nanosonics. The Motley Fool Australia has positions in and has recommended Nanosonics. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Elon Musk says Tesla needs ‘extra time’ to redesign the front of its Robotaxi before the big reveal

    Elon Musk speaking in black blazer with hand out and fingers folded
    Elon Musk said he requested an important design change as he seemingly confirmed that Tesla's Robotaxi Day will be pushed back from August 8.

    • Tesla's Robotaxi Day has been delayed to October, Bloomberg previously reported.
    • Elon Musk on social media confirmed Tesla needed "extra time" to redesign the front of the vehicle.
    • Musk has said Tesla's driverless taxi business will function like "a combination of Airbnb and Uber."

    Elon Musk has seemingly confirmed Tesla's Robotaxi event has been delayed and revealed one reason the company needs more time before the big reveal.

    Bloomberg reported last week that the event had been delayed from August 8 to October. The delay was relayed internally and the design team was told to modify some aspects of the vehicle, according to the report.

    Musk spoke publicly about the delay for the first time in a social media post on Monday.

    "Requested what I think is an important design change to the front, and extra time allows us to show off a few other things," Musk said on X.

    The Tesla CEO's post was in response to a video posted by Tesla shareholder Warren Redlich examining the potential reasoning behind a delay.

    Musk has said Tesla's driverless taxi business — which will eventually allow Tesla drivers to opt into adding their vehicles to the fleet when not in use — is meant to function like "a combination of Airbnb and Uber."

    So far, we've only seen a preview of what the app element of the service could look like.

    A few weeks ago, Tesla released a demo clip showing Rosalie Nathans, whose profile says she's a senior manager for used cars and online sales at Tesla, requesting the service on the app and getting in the vehicle. The app display in the video seemed to allow passengers options to personalize their experience by listing the car temperature, audio volume, and song playing on the display.

    The apparent reveal event delay isn't a complete shock — Musk often underestimates how long it will take to bring the ideas he has to market, saying he tends to be optimistic about product timelines. The same happened with the Cybertruck, Tesla's Full Self-Driving software, and Starlink's high-speed internet access in remote areas.

    Not much is known about Tesla's Robotaxi event aside from that the public will get a glimpse at whatever the company has been working on. Tesla's Full Self-Driving software, which would power the Robotaxis, is still in beta and a work in progress — it currently requires human oversight at all times in case an intervention is needed. Tesla is also facing a number of lawsuits and regulator scrutiny related to safety concerns over its self-driving software.

    Tesla has yet to officially announce a new date for the Robotaxi event. The EV company did not immediately respond to a request for comment.

    Read the original article on Business Insider
  • Trump goes all in by selecting JD Vance as his MAGA heir apparent

    JD Vance and Donald Trump shake hands during a 2022 political rally
    In selecting Sen. JD Vance of Ohio as his running mate, former President Donald Trump has made clear who is his heir apparent.

    • Former President Donald Trump picked JD Vance as his running mate.
    • Vance was favored by the likes of Elon Musk and Donald Trump Jr.
    • In selecting Vance, Trump has made clear he wants to cement his takeover of the GOP.

    Former President Donald Trump is running like he has nothing to lose.

    On Monday, Trump announced that he had selected Sen. JD Vance of Ohio as his vice presidential pick. In selecting Vance, Trump stiff-armed the establishment and Wall Street voices that settled on another finalist, North Dakota Gov. Doug Burgum. Instead, the voices of Tesla CEO Elon Musk and Donald Trump Jr. held the most sway.

    "I've seen him on TV," Trump Jr. told CNN on the convention floor shortly after Vance's selection was announced. "I've seen him prosecute the case against the Democrats. No one is more articulate than that."

    While he was once an outspoken "Never Trumper," Vance is now the MAGA heir apparent. As the senator alluded to earlier this year, Trump can serve at most four more years as president. It means the 39-year-old is now in the prime position to cement the populist takeover of the Republican Party.

    Trump's selection shows he is confident in his lead. In national polling, he is in the best place for a Republican presidential nominee in over two decades. His opponent, President Joe Biden, also threw the Democratic Party into chaos after a disastrous debate performance. It remains to be seen how the assassination attempt on Trump will alter the race. But almost immediately, Republicans have embraced Trump's defiant response.

    Vance is a firebrand who rarely embraces subtlety. In May, he expressed skepticism that former Vice President Mike Pence's life was ever truly in danger during the Capitol riot. Hours after Trump survived an assassination attempt, Vance suggested that it was Democrats to blame for the shots being fired even before a suspect had been named or a motive identified. And yes, Vance once compared his now running mate to Hitler.

    Like Trump, Vance has embraced conspiracies about the 2020 election. The Ohio Republican has also clearly stated that he would have done the opposite of what Pence did on January 6. A Vice President Vance would have allowed lawmakers to consider alternative slates of electors even if that meant that the certified election results of a particular state could be rejected.

    President Joe Biden's campaign wasted no time tearing into Vance, illustrating the extent to which the president's reelection campaign may try to focus on him.

    "Donald Trump picked J.D. Vance as his running mate because Vance will do what Mike Pence wouldn't on January 6: bend over backwards to enable Trump and his extreme MAGA agenda, even if it means breaking the law and no matter the harm to the American people," Biden-Harris 2024 Chair Jen O'Malley Dillon said in a statement.

    Trump is betting that Vance will help him lock down states like Pennsylvania by extolling his blue-collar roots that were at the center Vance's New York Times bestseller "Hillbilly Elegy."

    Vance was just sworn into the Senate last year. In terms of elected office experience, he would be one of the least experienced vice presidents in history.

    Even in his short time in the chamber, Vance has staked out clear territory for himself. Among a group much closer to the Reagan-era GOP, the Ohioian has been an unrepentant populist in favor of protectionist trade policies. Like Trump, Vance has also strongly questioned sending defense aid to Ukraine.

    Vance took his case against Ukraine aid to the Munich Security Conference in February. The gathering of the West's top defense officials was once a major stop for Sen. John McCain, who, more than any Republican, embodied the interventionist foreign policy that prized Europe's role in shaping the post-Cold War world.

    In addressing the gathering, Vance said it was "time for a wake-up call."

    Trump delivered one to the party he has forcibly molded in his image. Vance could make sure the GOP never goes back.

    Read the original article on Business Insider
  • I was at the Copa America final in Miami. Getting in was chaotic and I worried about a stampede.

    Couple posing in Argentina gear at Miami stadium during Copa America final
    Andrea Persson went to see the final match with her husband and described the chaotic scenes trying to enter the stadium.

    • Andrea Persson is a 44-year-old Argentina football supporter who was given tickets to Copa America.
    • There was nowhere to park at the stadium, so she paid $50 to park outside of someone's house.
    • She described huge crowds of people with parents taking their children away to get air.

    This as-told-to essay is based on a conversation with Andrea Persson. It has been edited for length and clarity.

    My husband and I were so excited to watch Argentina — where my family is from — against Colombia in the Copa America final. We were given tickets and couldn't wait.

    We had gone to a previous Argentina game, so we knew there would be a lot of traffic getting to the stadium. We left plenty of time to get there in time for the 8:00 p.m. start. My GPS showed it would take us 35 minutes to get to the stadium from where we were.

    As we approached the stadium, there weren't any signs pointing traffic toward parking lots. At the first parking lot entrance we reached, someone parked and directed traffic to another entrance. This happened another two times. Although we weren't told the parking lots were full, I assume that is why we were being redirected. The traffic between each of the parking lots was moving incredibly slowly.

    We were getting concerned about the time because it was close to 7:00 p.m. People were standing outside houses on the street near the stadium with signs offering parking for $50. So we paid in cash and parked.

    The car journey that was meant to take 35 minutes took us two hours. That's the start of when we realized how poorly organized the event was.

    There were so many people waiting outside the stadium to get in

    As we approached the stadium, we saw a wave of people trying to get inside. We went to the first gate. It was closed. A second gate. It was closed. A third. Closed.

    People were moving slowly to try to get from one entrance to the other. We were stuffed together like sardines. I walked right behind my husband with my hand on his back, and my friend's hand was on my back. We were afraid of getting separated.

    Although I didn't see anyone who had fallen in the crowds, I was so scared of people falling and starting a stampede we'd get caught in.

    People outside stadium in Miami Copa America final
    Thousands of people waited outside the stadium during the Copa America final.

    It felt like there was no air. The heat and humidity were worse than usual, and everyone was packed in so close together.

    Around me, I could see parents with terrified looks. This was meant to be a family event, but parents were thinking about the safety of their children in the crowds. Many families were moving back, away from the stadium. I saw some jumping over bushes and fences to get away.

    Two kids wearing Messi jerseys at the Copa America final
    The author saw parents worried for their kids as the crowd against the stadium entrance grew larger.

    People were yelling out warnings about staying calm and not making any sudden movements as kids were around. Even though I would have loved my daughter to have come with us, I would have been terrified if she had.

    We debated leaving

    By 8:00 p.m., we moved away from the stadium to decide whether to leave to watch the game somewhere else. We weren't sure if we'd miss it waiting to be let in. Around the same time, people inside the stadium were texting to say the stadium was half full, so we decided to stay, hoping they'd open the doors soon.

    Everyone was talking about how poorly organized the whole event was.

    Eventually, an entrance gate opened, and we slowly made our way to it with the rest of the crowd. Although there were police present at the security points, no one's tickets or bags were checked.

    Argentine and Colombian fans trying to enter the stadium in Miami
    Crowds trying to enter the stadium during the Copa America final.

    It was only later, once we were safely in, that I thought how dangerous it was that no one knew what was inside these bags people were bringing in.

    Instead of taking the elevator, which was jam-packed, we took a ramp to our section. When we arrived at the entrance of section 318, someone asked for our tickets. We showed him our phone, but nothing was scanned, and no bags were checked.

    At 8:20 p.m., we sat down in our seats. The game hadn't started, and the stadium was still only half-full. About an hour later, the game finally started.

    During the game, I saw officers trying to take people without tickets out of the stadium.

    We loved being there, watching so many Colombians and Argentinians mixed together in one place. The mood was cheerful and respectful. It was a night to remember.

    While the game itself was great, the event's organization was a total failure. If we're going to host the World Cup here, something has to change.

    Read the original article on Business Insider
  • Ex-NRA leader who helped legalize AR-15s offers ‘hearts and prayers’ to Trump shooting victims from his 2nd corruption trial

    A close-up photograph of the face of former National Rifle Association CEO Wayne LaPierre, seen as he attended the first day of his second civil corruption trial in New York.
    Former National Rifle Association CEO, Wayne LaPierre at the first day of his second civil corruption trial in New York.

    • Wayne LaPierre is back on trial in Manhattan, fighting for the right to return to the NRA.
    • LaPierre led the gun group's fight to legalize AR-15s, the kind of weapon used against Trump.
    • During a break in testimony Monday, he offered his 'hearts and prayers' for the victims' families.

    Former National Rifle Association leader Wayne LaPierre — who arguably did more than any single person to keep AR-15s legal — offered his "hearts and prayers" for the victims of Saturday night's assassination attempt against Donald Trump.

    LaPierre, 74, spoke to Business Insider briefly from the hallway outside his second civil-corruption trial, which began Monday in Manhattan.

    "I am thankful that President Trump appears to be okay," he said. "God Bless his family. I know our hearts and prayers go out to the Buffalo fireman that lost his life, and his family."

    "Also, we pray for the well-being and recovery of the victims," he added.

    LaPierre declined to answer questions about his role in legalizing AR-15s, the kind of assault weapon used in Saturday's assassination attempt. He also declined to comment on President Joe Biden's ongoing efforts to reinstate a ban on assault weapons.

    "That's all I have to say," he said, walking away.

    LaPierre resigned from the NRA's helm in January, in the middle of his first corruption trial, at which a jury ordered him to repay the gun lobby $4.35 million. He cited his chronic Lymes disease in stepping down.

    LaPierre is now fighting New York Attorney General Letitia James, who attended Monday's trial and who hopes a judge will ban him for life from any future fiscal role in the gun lobby.

    This second trial's witness list is shaping up to be a who's who of assault-rifle proponents, just days after the attempt on Trump's life by a 20-year-old carrying a legally purchased AR-15,

    First to be subpoenaed to the witness stand by James' side was longtime gun-rights advocate Charles Cotton, who has fought against assault rifle bans and universal background checks for decades.

    The former NRA president and current board member once lamented, "Too bad we lost the civil war," in a post to an online forum, as reported by Slate.

    Under questioning Monday, Cotton tried to refute the AG's contention that the NRA is in large part only pretending to shape up its finances and distance itself from LaPierre.

    The NRA has yet to press LaPierre for the $4.35 million he now owes them, or to demand he repay millions more in legal fees the gun lobby has spent on him, James has complained in court filings.

    Cotton was questioned by an assistant attorney general, Steve Shiffman, about remarks he made during the NRA's annual meeting in May.

    In addressing the meeting, Cotton had inaccurately claimed the NRA "won" the first trial and that the NRA was not found liable for any wrongdoing, according to transcripts shown in court.

    Asked if LaPierre had been punished in any way, Cotton responded from the witness stand, "We were keeping a lot closer eye on him. He knew there was a spotlight on him."

    Cotton had high praise for fellow board member Ronnie Barrett, who is on the defense witness list.

    "Ronnie Barrett literally is a rock star in our community," Cotton said, praising his colleague's fundraising and business experience.

    Barrett is also the inventor of the Barrett .50 caliber sniper rifle, Cotton said, noting from the witness stand, "It was adopted by the military — all military services use his rifle. He literally designed the gun," Cotton added.

    According to Barrett's own NRA profile, the sniper rifle is so effective, Al Qaeda purchased them in the 1980s, and Irish Republican Army snipers used them to kill British police officers and Irish constables during "The Troubles" in Northern Ireland.

    The AG's lawyers will likely also ask Barrett about also downplaying the jury's findings at the May meeting.

    While speaking at the meeting, Barrett brushed aside the jury's finding that NRA Corporate Secretary John Frazer failed to uphold his duties and lied in regulatory filings.

    Barrett called Frazer's actions "a little mistake," and likened it to stepping in "cow piles," according to a transcript excerpt included in an AG court filing.

    This second, non-jury trial is being held before state Supreme Court Justice Joel Cohen.

    In addition to the ban on LaPierre, James is asking that Cohen install an independent monitor who would audit and supervise how the NRA uses contributions and donations, something the gun lobby's lawyers liken to a state takeover.

    James's office oversees charitable and nonprofit organizations in New York. In 2020, she sued the NRA, LaPierre, and three other longtime top executives, alleging a leadership culture of fraud, greed, and retaliation against whistleblowers.

    At his first corruption trial in January, LaPierre, who successfully lobbied against even modest, popular gun-control laws for three decades, was found liable by a jury living lavishly on the NRA's dime and was found to have caused $5 million in harm to the organization.

    The trial is expected to last two weeks.

    Read the original article on Business Insider
  • Mark Cuban worries algorithms will decide the president in 2024

    Mark Cuban at a basketball game, wearing a black shirt.
    Mark Cuban

    • Mark Cuban warned that social media algorithms could determine the president.
    • "This is the first AI driven election season where policy and personalities mean nothing," he wrote.
    • He also called the impact of algorithms on children "terrifying."

    Will social media decide who becomes president? That's what Mark Cuban is worrying about.

    The billionaire "Shark Tank" investor warned about social media's outsized influence this election cycle.

    "This is the first AI driven election season where policy and personalities mean nothing and algorithms drive everything," Cuban wrote on X on Monday.

    Cuban argued that "narratives delivered by the algorithms" — whether factual or not — are now more important to voters than "actual events."

    This means employees at social media companies who design algorithms have "the most influential positions in politics," Cuban said — followed by campaign staffers "who can figure out how to reverse-engineer the algos."

    Cuban outlined his argument on X, but said the thesis applies to all social platforms "that are tuned to maximize engagement and or revenue."

    Beyond politics, he called the impact of unpredictable algorithms on children today "terrifying" — and even more influential than their parents.

    Cuban did not immediately respond to a request for comment from Business Insider.

    Cuban similarly warned of social media's ills Sunday after the attempted assassination of former president and GOP nominee Donald Trump.

    Cuban warned users to watch out for scammers and grifters like people creating fake fundraisers. He also wrote he hoped the former president was okay, and thanked the Secret Service for putting themselves in harm's way.

    The famed entrepreneur has previously voiced his support for President Joe Biden in November's election.

    Cuban's also publicly feuded with Elon Musk, the billionaire owner of the X platform itself — as well as CEO of SpaceX and Tesla — who endorsed Trump for president after the former president was shot during a campaign rally on Saturday.

    Bloomberg also reported that Musk sent money to a pro-Trump group even before the attempted assassination.

    Musk had previously said he wasn't donating to any candidate in the 2024 election.

    Read the original article on Business Insider
  • A US warship’s Red Sea battle with the Houthis years ago helped the Navy ready for round two, its captain says

    The US Navy guided-missile destroyer USS Mason pulls alongside a fleet replenishment oiler in the Atlantic Ocean, July 17, 2021.
    The US Navy guided-missile destroyer USS Mason in the Atlantic Ocean.

    • USS Mason, a destroyer, was forced to defend itself against Houthi missile attacks in 2016.
    • Years later, in 2023 and into 2024, that same warship found itself battling the Iran-backed rebels once again.
    • The 2016 engagements helped the Navy prepare for its most recent fight, the Mason's commanding officer said.

    When USS Mason sailed into the Red Sea toward the end of last year, the US Navy warship quickly found itself in a familiar situation: defending against Houthi missile attacks.

    Unlike some other ships, the Arleigh Burke-class destroyer battled the Houthis years before they started targeting merchant shipping lanes in what has become a monthslong campaign. The Mason's commanding officer says that earlier fight helped the Navy prepare for its latest clash with the Iran-backed rebels.

    It's not quite the same fight, the commanding officer said. "They are evolving in their own tactics, techniques and procedures, but we are continuing to outpace what they are changing," Cmdr. Justin Smith told Business Insider in an interview last week.

    The Mason recently returned to its homeport in Florida after a deployment to the Middle East as part of the Dwight D. Eisenhower Carrier Strike Group, which spent months defending merchant shipping lanes in the Red Sea and Gulf of Aden from Houthi attacks.

    During its exhausting deployment, the Mason intercepted a number of Houthi drones and missiles — including some fired at the destroyer. But it actually wasn't the first time that the warship found itself in this highly dangerous situation.

    Destroyer USS Mason sails the open ocean with a helicopter trailing behind.
    USS Mason sailing the open ocean.

    The Houthis targeted the Mason with missiles on multiple occasions in October 2016 while the destroyer was operating in the Red Sea and around the Bab-el-Mandeb Strait. Some of these threats were intercepted by the warship.

    In November 2023, just over seven years later, the Houthis fired several missiles in the general direction of the Mason, this time while it was responding to an attempted hijacking of a merchant vessel in the Gulf of Aden. The projectiles landed in the water several miles away.

    Smith said that the Navy learned a lot from the Mason's first engagements with the Houthis back in 2016 and explained that the investments the sea service made since then — specifically, in training and readiness initiatives — have "paid off" during the recent deployments.

    "We took a lot of human performance factors away from the crew members and the watch team's performance during 2016, and the Navy really studied that to ensure that we are going to have this combat warrior mentality and mindset to be ready for any type of threat or engagement that can be encountered," Smith said.

    Smith said sailors first develop this mindset during boot camp, but it became an enduring aspect of training and something he sought to continue on board the destroyer to ensure that the crew was ready for a sustained threat.

    Destroyer USS Mason sails past a dock with a police vessel parked nearby.
    USS Mason passing a dock in Norfolk, VA.

    Smith said that the Navy has invested heavily in human performance and that the investment has been worth it. "Our sailors — they still remain the Navy's most powerful weapon system," he said. "If we didn't have the great training we have now, our readiness would be impacted."

    The Eisenhower carrier strike group leadership has routinely stressed that the Navy will draw lessons from the ongoing counter-Houthi mission and apply them to future combat operations, and that process is already underway.

    For instance, Rear Adm. Marc Miguez, who spent months commanding the strike group, said in a reflection on the deployment that the sea service would benefit from more training scenarios focused on unmanned systems.

    Another consideration is the threat posed by anti-ship ballistic missiles. Though long in various arsenals, these weapons had never seen combat until the Houthis launched them in late 2023. In the fighting that followed, the Eisenhower strike group intercepted a number of these missiles, giving the Navy valuable information that would be useful in a future conflict — whether that's against the Houthis or another force.

    "Everything is evolving, and things don't remain stagnant in threats," Smith said, adding that the Navy is always working to "demonstrate to the Houthis that we'll be able to challenge them currently and then moving forward in the future."

    Read the original article on Business Insider
  • Only 11 albums have spent at least 10 weeks at No. 1 on the Billboard 200 this century — here they all are

    adele drake taylor swift split thumb
    Adele, Drake, and Taylor Swift.

    • The Billboard 200 tracks the most popular albums every week in the US.
    • Only 11 albums have spent 10 or more weeks at No. 1 on the chart so far this century.
    • Taylor Swift has three albums on this list, while Adele and Morgan Wallen each have two.
    1. "Fearless" by Taylor Swift
    fearless taylor swift album cover
    "Fearless" was released in 2008.

    Taylor Swift's sophomore album spent 11 weeks at No. 1 and was certified diamond by the RIAA. It is known as the most-awarded country album of all time.

    Prior to "Fearless," the top-charting album of the millennium was Usher's "Confessions," which reigned at No. 1 for nine weeks.

    2. "21" by Adele
    adele 21
    "21" was released in 2011.

    Adele's sophomore LP spent a whopping 24 weeks at No. 1, the biggest nonconsecutive sum for any album by a woman.

    "21" won album of the year at the Grammys and was later crowned the top-performing album in the history of the Billboard 200.

    3. "Frozen (Original Motion Picture Soundtrack)" by Various Artists
    frozen soundtrack
    "Frozen" was released in 2013.

    "Frozen" spent 13 weeks at No. 1, the most of any film soundtrack since "Titanic" in 1998.

    4. "1989" by Taylor Swift
    taylor swift 1989 album cover
    "1989" was released in 2014.

    Swift's fifth studio album spent 11 weeks at No. 1 and went on to win album of the year at the Grammys, becoming Swift's second win after "Fearless." (She has since won four times, more than anyone else in history.)

    5. "25" by Adele
    adele 25 album cover
    "25" was released in 2015.

    Adele's third album spent 10 weeks at No. 1. It also won album of the year at the Grammys, beating Beyoncé's "Lemonade."

    6. "Views" by Drake
    drake views album
    "Views" was released in 2016.

    Drake's fourth studio album spent 13 weeks at No. 1, besting Adele's "25" for the top-charting album of 2016.

    7. "Dangerous: The Double Album" by Morgan Wallen
    morgan wallen dangerous the double album
    "Dangerous: The Double Album" was released in 2021.

    Morgan Wallen's second studio album spent 10 consecutive weeks at No. 1, becoming just the third album in history to spend its first 10 weeks atop the chart, joining Whitney Houston's "Whitney" (1987) and Stevie Wonder's "Songs in the Key of Life" (1976).

    8. "Un Verano Sin Ti" by Bad Bunny
    un verano sin ti bad bunny
    "Un Verano Sin Ti" was released in 2022.

    Bad Bunny's fourth studio album spent 13 weeks at No. 1.

    "Un Verano Sin Ti" was ranked among Business Insider's best albums of 2022 and nominated for album of the year at the Grammys, but lost to "Harry's House" by Harry Styles.

    9. "SOS" by SZA
    SZA SOS album cover
    "SOS" was released in 2022.

    SZA's sophomore album spent 10 weeks at No. 1.

    "SOS" was the first R&B album by a woman to achieve the feat since Mariah Carey's self-titled debut in 1991.

    10. "One Thing at a Time" by Morgan Wallen
    morgan wallen one thing at a time album cover
    "One Thing at a Time" was released in 2023.

    Morgan Wallen's third studio album spent 19 nonconsecutive weeks at No. 1, surpassing "Un Verano Sin Ti" for the most weeks atop the chart this decade.

    It's also the biggest country album in the history of the Billboard 200; Garth Brooks previously held the record with "Ropin the Wind," which reigned for 18 weeks in the early '90s.

    Wallen's commercial success has come in spite of a string of controversies, which include canceling concerts at the last minute, using a racial slur on video, and partying without a mask during the pandemic.

    11. "The Tortured Poets Department" by Taylor Swift
    taylor swift the tortured poets department deluxe album cover
    "The Tortured Poets Department" was released in 2024.

    Swift's 11th studio album has spent its first 12 weeks at No. 1, the longest post-release run by a female artist since Houston's "Whitney."

    "The Tortured Poets Department" joins Wallen's "One Thing at a Time" and Wonder's "Songs in the Key of Life" as the only three albums to spend their first 12 weeks in the chart's top position. (Wonder holds the record with a 13-week streak.)

    Read the original article on Business Insider