The News

Wednesday, October 30, 2024

At least 72 people die in devastating flash floods in eastern Spain

October 30, 2024 0

 Flash floods in eastern Spain swept away cars, turned village streets into rivers, disrupted rail lines and highways and killed at least 72 people in the worst natural disaster to hit the European nation in recent memory.



Rainstorms that started Tuesday and continued Wednesday caused flooding in a wide swath of southern and eastern Spain, stretching from Malaga to Valencia. Muddy torrents tumbled vehicles down streets at high speeds, while pieces of wood swirled in the water alongside household items. Police and rescue services used helicopters to lift people from their homes and rubber boats to reach drivers stranded on the roofs of cars.

Emergency services in the eastern region of Valencia confirmed a death toll of 70 people on Wednesday. Another two casualties were reported in the neighboring Castilla La Mancha region.

Yesterday was the worst day of my life,” Ricardo Gabaldón, the mayor of Utiel, a town in Valencia, told national broadcaster RTVE on Wednesday. He said six residents of his town had perished and several more were unaccounted for.

Searchers worked to find survivors and victims, with countless numbers still missing. Spain’s government said it would declare three days of mourning starting Thursday for those killed in the devastating flash floods.

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Super Micro Computer Stock Plummets After Accounting Firm Resigns

October 30, 2024 0

 Super Micro Computer (SMCI) stock plunged Wednesday after the data center specialist revealed in a regulatory filing that its accounting firm resigned over financial reporting concerns.



Super Micro disclosed in a filing with the U.S. Securities and Exchange Commission on Wednesday that Ernst & Young had resigned as the company's registered public accounting firm as of Oct. 24.

In late July 2024, EY communicated to the Audit Committee concerns about several matters relating to governance, transparency and completeness of communications to EY, and other matters pertaining to the Company's internal control over financial reporting, and that the timely filing of the Company's annual report was at significant risk," the SEC filing said.

In response to EY's concerns, Super Micro's board appointed an independent special committee to review the matters. The special committee hired law firm Cooley LLP and forensic accounting firm Secretariat Advisors to perform an investigation.

EY said additional information received during the review process raised questions about whether the company was committed to integrity and ethical values. In particular, EY questioned whether the audit committee and overall board could act as an oversight body that is independent of the chief executive and other members of management.

In its resignation letter, EY said, "We are resigning due to information that has recently come to our attention which has led us to no longer be able to rely on management's and the Audit Committee's representations and to be unwilling to be associated with the financial statements prepared by management, and after concluding we can no longer provide the Audit Services in accordance with applicable law or professional obligations."

Super Micro Stock Takes A Plunge

In morning trades on the stock market today, Super Micro stock plummeted more than 27% to 35.55.

Super Micro shares reached an all-time high of 122.90 on March 8.

Concerns about the company's financial reporting and internal controls surfaced on Aug. 27 when short seller Hindenburg Research accused Super Micro of accounting manipulation, export control failures, customer issues and other problems. The next day, Super Micro announced a delay in filing its annual 10-K report with the SEC.

Mizuho Securities analyst Vijay Rakesh reiterated his neutral rating and price target of 45 on Super Micro stock on Wednesday.

"SMCI currently has a listing noncompliance letter from Nasdaq dated Sept. 17," Rakesh said in a client note. "We believe this notice gives SMCI 60 days (Nov. 16) to present a plan to return to compliance with Nasdaq requirements or face delisting (the second instance in the last 5 years)."

The lack of an auditor and the tight timeline to reach compliance with Nasdaq rules raise the prospect of Super Micro getting delisted from the exchange, he said.

Meanwhile, rival Dell Technologies (DELL) is likely to gain share in the AI server market during the period of uncertainty, Rakesh said.

Dell stock rose 6.7% to 129.77 in morning trades on Wednesday.

Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.

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Dustin Hoffman Remembers Tootsie Costar Teri Garr After Her Death: 'There Was No One Like Her

October 30, 2024 0

 Dustin Hoffman is remembering his late costar Teri Garr.



In a statement to the New York Post published Tuesday, Oct. 29, the 87-year-old actor paid his respects to his Tootsie costar, who died on Tuesday at the age of 79.

“Teri was brilliant and singular in all she did, and had a heart of gold,” Hoffman said in his statement to the outlet. “Working with her was one of the great highs."

"There was no one like her," he added.

Dustin Hoffman and Teri Garr during American Museum of the Moving Image Honors Dustin Hoffman at Waldorf Astoria Hotel in New York City, New York, United States.
Teri Garr and Dustin Hoffman in New York City. 

Ron Galella/Ron Galella Collection via Getty 

The actress was known for her roles of Inga in 1974's Young Frankenstein and Sandy Lester in 1982’s Tootsie alongside Hoffman’s Michael Dorsey.

The latter film tells the story of Michael, an unemployed actor who disguises himself as a woman named Dorsey for a drama. However, things take a turn when he falls in love with his costar Julie Nichols, played by actress Jessica Lange.

Garr received a Best Supporting Actress Oscar nomination for her work in Tootsie. The romantic comedy later inspired a stage musical, which hit Broadway in 2019.

Santino Fontana took over the role of Michael on the Great White Way, while Lilli Cooper played Julie and Sarah Stiles played Garr's movie role of Sandy.

Teri Garr smiles at Dustin Hoffman in a scene from the film 'Tootsie', 1982.
Teri Garr and Dustin Hoffman in Tootsie (1982). 

Columbia Pictures/Getty

Speaking about her Academy Award nod in her 2005 memoir Speedbumps: Flooring it Through Hollywood, Garr wrote, per the New York Post, “I was proud. The Academy not only knew I existed, they thought I was good!”

She also previously spoke about how her mother, Phyllis Lind Garr, helped secure her role as the assistant of Dr. Frankenstein (Gene Wilder) in Young Frankenstein.

“My mother was the wardrobe woman on Young Frankenstein,” the actress told PBS in 2012. “I asked her if they’d finished casting, and she said she didn’t know.”

Garr asked her agent to get her an audition, and after four rounds of auditions, she was cast. “It was unbelievable," she said.

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Tuesday, October 29, 2024

Channing Tatum and Zoë Kravitz Split After 3 Years Together, Call Off Engagement

October 29, 2024 0

 Zoë Kravitz and Channing Tatum are calling it quits after three years as a couple. 



Multiple sources confirm to PEOPLE that the Batman actress and Magic Mike actor have called off their engagement.

The two first became an item after working together on Kravitz’s feature directorial debut Blink Twice, in which Tatum starred, and got engaged a year ago

Reps for both stars have not responded to requests for comment from PEOPLE.

Tatum, 44, joined Kravitz in seeing a production of a play by Blink Twice costar Levon Hawke in New York City's Red Hook neighborhood on Oct. 6. However, Kravitz, 35, has in recent weeks been spotted out and about without her engagement ring, including on a recent outing with Big Little Lies costar Shailene Woodley.

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Channing Tatum and Zoe Kravitz
Channing Tatum and Zoe Kravitz in 2023. 

ALEXJR / BACKGRID

"Art is our love language," Kravitz told PEOPLE upon Blink Twice’s Aug. 23 premiere when asked about collaborating with Tatum again in the future. "I think it's what we love, and we love talking about it, and experiencing it, and supporting each other.”


“This is what I'll say about creating with someone that you are with or love: I suggest it,” Tatum told PEOPLE in July. “If you are thinking about having a kid or if you're thinking about getting married, go find the hardest possible creative project with your partner.”

He added at the time, “When you can look across the room or the set and know that you have the best person that is next to you trying to solve problems, and you're really looking to them for answers just as equally as trying to solve them yourself, that is unbelievable.” 

On Tuesday, Oct. 29, Deadline reported that Kravitz and Tatum are among the actors cast in alien invasion comedy Alpha Gang, starring and produced by Cate Blanchett.

Kravitz and Tatum first sparked romance rumors when they were photographed riding through the streets of N.Y.C. on a BMX bike in August of 2021.

A month later, they were spotted leaving the Met Gala together before Tatum made their relationship Instagram official on Halloween, sharing a snap of him and Kravitz rocking a couple's costume from Martin Scorsese's classic 1976 film, Taxi Driver.

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Lisa Kudrow Pays Tribute To ‘Friends’ TV Mom Teri Garr Calling Her “A Comedic Acting Genius

October 29, 2024 0

 Garr died at the age of 79 due to multiple sclerosis, which was first diagnosed in 1999. Kudrow shared the small screen with Garr in multiple episodes of the NBC sitcom and paid tribute to her late co-star.



“Teri Garr was a comedic acting genius who was and is a huge influence on me and I know I’m not alone in that,” Kudrow said in a statement to People. “I feel so lucky and grateful I got to work with Teri Garr.”

Garr played the role of Phoebe Abbott on Friends, Kudrow’s Phoebe Buffay, and Ursula Buffay’s estranged mother. Her first appearance was in the 1997 Season 3 finale episode titled “The One at the Beach.” In the episode, Phoebe meets with a woman she believes is her parents’ friend. Phoebe later discovers that the woman is her biological mother.

Garr reprised the character in 1998’s Season 4, in the episodes “The One with the Jellyfish” and “The One with Phoebe’s Uterus.”

Lisa Kudrow and Teri Garr in 'The One With The Jellyfish'
Lisa Kudrow and Teri Garr in ‘The One With The Jellyfish’Warner Bros. Television / Courtesy: Everett Collection

Garr began her career in 1960s Elvis Presley movies, like Viva Las Vegas and Roustabout. The actress also appeared in the 1964 Annette Funicello beach party film Pajama Party. Garr continued to land small movie roles throughout the decade and appeared in episodes of Star TrekThat GirlMayberry R.F.D.It Takes a Thief and Room 222.

Following her Friends guest-starring role, Garr appeared in shows like ERFelicityStrong MedicineMad TVLife with BonnieGreetings from TucsonLaw & Order: Special Victims Unit, and Crumbs. She was also a voice actress for shows like Dr. Katz, Professional TherapistBatman BeyondKing of the Hill, and What’s New Scooby-Doo.

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Glassnode Report Reveals Insights on Bitcoin’s Latest Rally – Why Investors Are Paying Attention

October 29, 2024 0

 Bitcoin rose to over $71,200 early European morning on Tuesday amid a significant uptick in trading activityBTC broke through the $70,000 barrier for the first time since June on Monday, prompting $48 billion in trading volume and over $143 million in shorts being liquidated across the crypto market. Bitcoin is around 4% higher in the last 24 hours, while the broader digital asset market, as measured by the CoinDesk 20 Index, is up by over 3.2%. DOGE led the gains, jumping over 14% to around $0.165, while ETH rose above $2,600 on the back of a 3.9% rise.



DOGE futures interest is nearing record levels, thanks to increasing confidence of Donald Trump winning next week's presidential election. Traders view DOGE as an election play thanks to Elon Musk's endorsement of the Republican candidate, and by extension the possibility of Musk running a "Department of Government Efficiency," abbreviated as D.O.G.E. DOGE-denominated futures have risen 33% since Sunday to 8 billion tokens as of European morning hours Tuesday. “Elon is memeing the idea of a 'Department of Government Efficiency' into reality and is able to tie it to DOGE somehow,” influential X account @theunipcs told CoinDesk. A Trump victory next week would bring "an even more parabolic move in dogecoin," @theunipcs added.

Trading on Crypto.com has exploded this year, pushing the crypto exchange’s volumes in North America ahead of Coinbase. Crypto.com’s monthly spot trading volume soared to $134 billion in September from $34 billion in July, according to data from The Block. Overall trading volumes on North American crypto exchanges was $183 billion in September, in which Coinbase handled $46 billion. Kraken, the third-largest exchange, was way behind in October with just under $10 billion in trading activity. A key reason for its popularity could be the wide range of tokens on offer. Crypto.com lists over 378, compared to Coinbase and Kraken which offer fewer than 290 tokens each.

Chart of the Day

COD FMA, Oct. 29 2024 (MacroMicro)
(MacroMicro)
  • The chart shows Donald Trump's chances of victory in next week's presidential election, as per Polymarket, against the U.S. dollar index.
  • The possibility of higher tariffs imposed by a Trump presidency is seen as unfavorable for emerging markets, with capital flows favoring the dollar and leading to a short-term increase in USD's value.
  • "With Trump's stance on imposing high tariffs, enacting tax cuts, and expanding fiscal spending, inflation is likely to increase," MacroMicro added "This could lead to a higher volume of bond issuance, driving up Treasury yields."
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Steve Bannon is released from prison in time for the last-week push to Election Day

October 29, 2024 0

 Steve Bannon was released from federal prison Tuesday, according to a source with knowledge, emerging just a week before Election Day to retake the helm of his weakened right-wing media platform.



Bannon, a right-wing podcast host and the chief executive of Donald Trump’s 2016 presidential campaign, has remained a strident supporter of the former president. Even as he reported to federal prison in Connecticut in July, Bannon insisted he would influence the presidential race from behind bars and that his “War Room” podcast would continue to energize the Trump base.

Bannon was met early Tuesday morning by his daughter Maureen. He is expected to host his radio program later Tuesday morning.

He was convicted in 2022 on two counts of contempt of Congress for refusing to comply with a subpoena from the House Select Committee that investigated the January 6, 2021, attack on the US Capitol. He is continuing to appeal his conviction.

While in prison, Bannon digitally kept in touch with a small group of loyalists, including some who served as guest hosts for the podcast, according to two sources familiar with the matter. Bannon would in part discuss news of the day and politics including topics he thought about for the show.

However, Bannon’s MAGA megaphone has suffered in his absence. “War Room,” which frequently appeared in Apple’s Top Podcasts before Bannon reported to prison, fell off the charts by early July, according to data from Podchaser. By another measure, the podcast was once near the top of the Apple political podcast charts and has since fallen out of the top 25, per Podchaser data.

There are some signs that it’s ticking up slightly as Bannon prepares to return.

“Though we’ve been seeing election denial activists coming on the show still as a central hub, you see that ‘War Room,’ it wasn’t able to sustain itself without Bannon,” said Madeline Peltz, deputy director for rapid response at Media Matters, a progressive nonprofit that does extensive media monitoring.

Peltz still predicted Bannon would be a prominent voice for election denialism if it appears Trump is coming up short after Election Day.

“I think it’s going to take some time to bring the audience back and to mobilize them,” Peltz said. “I don’t think the one-week period between now and the election is enough time to complete that, but I think really, you’ll see it kick into high gear in the post-election chaos that we’re all sort of anticipating.”

While Bannon’s show is mainly seen as an energizer for the Trump base, data from Edison Research’s podcast metrics found that nearly half of Bannon’s audience was made up of Republicans but about a third of listeners were independents.

On the “War Room” podcast, a cast of fill-in hosts cheered Bannon’s return.

Prominent election conspiracy theorist Mike Lindell offered a deal on his MyPillow products to celebrate Bannon’s release (free pillows, plus shipping and handling, with the relevant discount code.)

“It’s less than 24 hours until Stephen K. Bannon is back a free man and preaching the gospel of MAGA here in the ‘War Room,’” Natalie Winters, one of the podcast guest hosts said Monday.

Winters then turned her focus to the presidential race, claiming, “It’s not an election, it’s ballot warfare.” It’s the kind of incendiary rhetoric Bannon embraced and promoted as an early voice in the “Stop the Steal” movement in 2020.

In May, Bannon claimed on his podcast that “they’re going to do everything to steal this election,” as he reiterated the baseless claim that the 2020 presidential election was stolen.

“Bannon is one of the most talented broadcasters among his peers, in terms of taking current events, pulling out a kernel of truth from them, and then spinning an elaborate conspiracy theory on top of it, which then becomes the fuel for the action that’s taken by the grassroots in response to these lies,” Peltz from Media Matters said. “There’s really no one who has quite the same level of talent for that particular misinformation approach.”

To mark his release, Bannon’s team said he plans to hold a press conference Tuesday afternoon in New York.

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