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TradeBriefs Editorial

From the Editor's Desk

Inside the massive Bell Media downsizing that pushed out Lisa LaFlamme

","heading":"","fullWindow":false,"fullBleed":false,"showFullBleedOnMobile":false,"headColor":"","type":"html5mobile","textColor":"","mobileImageUrl":"","bgColor":"","imageUrl":"","registeredOnly":false,"linkUrl":"","aodaTitle":"BCE Inc.'s stock performance","internalScroll":false,"displayStyle":"small-up"},{"text":"In the weeks and months after Oosterman took office, Bell Media axed hundreds of workers in rapid succession — long-time employees and senior managers alike. Several former staff who spoke with the Star remember being called into abrupt virtual meetings where, in the span of roughly 90 seconds, they were fired en masse without much explanation. ","type":"text","isParagraph":true,"isHeading":false},{"text":"That kind of downsizing has, over the past year and a half, significantly reduced salary and payroll expenses for Bell Media, a move that will likely amass savings and boost revenue in the long term. But to an extent not quite seen before at the media division, it has also provoked an internal staffing crisis and an external optics nightmare that could threaten the news company’s brand. ","type":"text","isParagraph":true,"isHeading":false},{"text":"According to multiple sources close to Bell Media, the recent ousting of CTV News anchor Lisa LaFlamme, one of Bell’s most popular and accomplished journalists, is the latest example of Bell executives’ “obsession with head counts,” an unrelenting focus on how many staff work in the media division, how much money they make, and how to shrink those numbers fast. ","type":"text","isParagraph":true,"isHeading":false},{"type":"ad","heading":"ARTICLE CONTINUES BELOW","name":"ArticleSecondBigBox","display":"medium-down","pos":"2","interstitial":true,"sizes":[[300,250]]},{"text":"(Bell Media did not respond to the Star’s requests for comment by press time.)","type":"text","isParagraph":true,"isHeading":false},{"type":"textBreakPoint","insertAt":"contentMiddleBreakPoint"},{"text":"Now, after fearsome public backlash over LaFlamme’s departure, Bell executives have been forced to reckon with their own business model. ","type":"text","isParagraph":true,"isHeading":false},{"text":"“They’ve long thought that they could offer quality and competitive products with fewer people,” said Mark Sikstrom, a former head of CTV News Channel who now works as a media consultant.","type":"text","isParagraph":true,"isHeading":false},{"type":"stn-smart-player"},{"text":"“But it’s a dangerous game to play. How much can they cut before it starts hurting their business?”","type":"text","isParagraph":true,"isHeading":false},{"captionPosition":"overlay","origImageSize":"1200x675","fullWindowGenericImage":false,"lastmodified":1662749585300,"forceoriginal":false,"caption":"After fearsome public backlash over Lisa LaFlamme's departure, Bell executives have been forced to reckon with their own business model.","type":"genericimage","credit":"Toronto 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penny dropped at the Olympics’","type":"text","isParagraph":true,"isHeading":false},{"type":"slimcut"},{"text":"For the executives at BCE Inc., the prospect of owning a television network as ubiquitous as CTV was so nice that, in just over a decade, they bought it twice. ","type":"text","isParagraph":true,"isHeading":false},{"text":"The first purchase came in 2000, when then-Bell CEO Jean Monty bought the network for $2.3 billion to draw advertising revenue and drive cable subscriptions. But, a few years later, after a series of diminishing returns, Monty’s successor, Michael Sabia, sold off chunks of the network to focus instead on the company’s more lucrative business: telephone and internet services.","type":"text","isParagraph":true,"isHeading":false},{"type":"ad","heading":"ARTICLE CONTINUES BELOW","name":"ArticleThirdBigBox","display":"medium-down","pos":"3","interstitial":true,"sizes":[[300,250]]},{"text":"Still, the allure of media ownership was hard to ignore. The mid-to-late aughts marked the beginning of television on the internet; upstart streaming services like Netflix and Hulu and tv.com, most of them owned by American media conglomerates, offered customers an easier way to consume movies, TV shows and news. At the same time, telecom companies viewed ownership over sports and media content as a way to generate cash flow while they invested heavily in their internet and wireless networks.","type":"text","isParagraph":true,"isHeading":false},{"text":"Then-Bell CEO George Cope — Sabia’s successor and, at six-foot-seven, a literal and figurative titan of the telecom world — wanted to capitalize on the moment. In 2010, not long after Shaw Communications bought Global TV for $2 billion, he sought to reacquire CTV in its entirety for $1.3 billion. In subsequent interviews, Cope said he made the decision while watching live clips of the Vancouver Winter Olympics on his smartphone — a novel concept.","type":"text","isParagraph":true,"isHeading":false},{"text":"“The penny dropped at the Olympics,” he told financial analysts at the time.","type":"text","isParagraph":true,"isHeading":false},{"text":"While the deal gave Bell national distribution rights over a litany of crowd-pleasing shows like “Grey’s Anatomy” and “The Big Bang Theory,” and must-watch sporting events like the NFL Super Bowl, it also handed Bell the tricky business of news broadcasting.","type":"text","isParagraph":true,"isHeading":false},{"text":"Even before Netflix and Amazon Prime went mainstream, television broadcasters were struggling to maintain profits. Advertising dollars were in steep decline, and the number of Canadians watching the evening news was shrinking on an annual basis. The rise of social media and streaming services throughout the 2010s only accelerated an already-existent shift from the traditional mode of consumption.","type":"text","isParagraph":true,"isHeading":false},{"text":"Within months of Bell’s purchase of CTV, the company’s executives were flipping through an unflattering balance sheet. In 2013, the television network lost $15 million before taxes. Two years later, amidst a bitter feud between BCE Inc. and Canada’s national TV regulator, a scandal broke out in the CTV newsroom.","type":"text","isParagraph":true,"isHeading":false},{"type":"textBreakPoint","insertAt":"contentLongBreakPoint"},{"text":"Determined to turn a profit in the struggling media division, the executives sent in some of their own people to shake things up. ","type":"text","isParagraph":true,"isHeading":false},{"snippet":"#myIframe1LYV1VLexiLDyHWigpx4bpkw13_hrqcyhlcV269iWT2U1{padding:0;width:100%;border:0;overflow:hidden;} ","heading":"","fullWindow":false,"fullBleed":false,"showFullBleedOnMobile":false,"headColor":"","type":"html5mobile","textColor":"","mobileImageUrl":"","bgColor":"","imageUrl":"","registeredOnly":false,"linkUrl":"","aodaTitle":"Timeline","internalScroll":false,"displayStyle":"small-up"},{"text":"‘Cope’s right-hand man’","type":"text","isParagraph":true,"isHeading":false},{"text":"Long before he took over at Bell Media, Oosterman played high school basketball with Cope — his close friend and, eventually, his boss. As teenagers, they spent summer nights at the cottage with a young Jim Balsillie of future BlackBerry fame. After graduating from the University of Western Ontario’s Ivey Business School in the 1980s, they became pioneers of Canada’s nascent wireless communications business.","type":"text","isParagraph":true,"isHeading":false},{"text":"In their early 20s, Cope and Oosterman co-founded Clearnet Communications Inc., a company that bought two-way radio networks used mostly by taxi and bus services. They figured, quite presciently, that the technology would soon become the primary tool for cellular phones. When Telus Communications Inc. bought Clearnet for $6.6 billion in 2000, the businessmen accepted swanky new jobs in Telus’ C-suite. ","type":"text","isParagraph":true,"isHeading":false},{"text":"Cope was a rising star in the telecoms business. He was the head of Telus Mobility before being named Bell CEO in 2005, a tenure that spanned the launch of the Bell Let’s Talk Initiative and a tripling of company profits. Meanwhile, Oosterman, who followed Cope to Bell in 2006, worked quietly in marketing for wireless services as president of Bell Mobility and chief brand officer. ","type":"text","isParagraph":true,"isHeading":false},{"text":"“Oosterman really isn’t a media guy,” said Sikstrom.","type":"text","isParagraph":true,"isHeading":false},{"text":"“He’s a smart guy, for sure, but he was always more on the wireless side of the business — Cope’s right-hand man. He didn’t come (to Bell Media) equipped with an understanding of how the entertainment and news business works.”","type":"text","isParagraph":true,"isHeading":false},{"text":"Nonetheless, in 2015, when then-Bell Media president Kevin Crull was caught meddling with CTV’s news coverage, Oosterman was sent to oversee the media division. ","type":"text","isParagraph":true,"isHeading":false},{"text":"The Crull revelations, first reported by the Globe and Mail, sparked intense public backlash. The president, a figure theoretically detached from CTV’s day-to-day editorial operations, had reportedly ordered journalists not to air clips of Jean-Pierre Blais, then-chairman of Canada’s television regulator, the Canadian Radio-television and Telecommunications Commission (CRTC), because of BCE Inc.’s ongoing feud with the regulator over its telecom laws. According to the Globe’s reporting, top editors at CTV feared their jobs would be in jeopardy if they didn’t comply with Crull’s direction. ","type":"text","isParagraph":true,"isHeading":false},{"text":"Cope quickly shuffled Bell’s executive ranks. Within weeks, Crull was ousted from the company. Mary Ann Turcke, an engineer by training and Bell’s head of field operations, was tapped to replace him. Without the same operational independence afforded to Crull, Turcke was instructed to report directly to Oosterman, who Cope promoted to group president of Bell Canada and BCE. ","type":"text","isParagraph":true,"isHeading":false},{"text":"The move was designed to quiet the noise at Bell Media. Under Oosterman’s supervision, Bell Mobility had produced strong results without much turbulence. Whatever tactics worked in the wireless division could be applied in the media division, too, the company’s executives reckoned. ","type":"text","isParagraph":true,"isHeading":false},{"text":"But the Crull scandal would not be the last at Bell Media. Sources close to the media division argue that the strategy adopted by Bell Media’s new leaders laid the groundwork for more trouble later on. ","type":"text","isParagraph":true,"isHeading":false},{"text":"“From a business standpoint, you might think, ‘Why can’t we just operate Bell Media the same way we operate Bell Mobility?’” one former manager at the company told the Star. “Well, now we know why.”","type":"text","isParagraph":true,"isHeading":false},{"type":"cta","buttonText":"Sign Up Now","buttonLink":"/emails.html?nsrc=article-inline-covid","description":"Never miss the latest news from the Star, including up-to-date coronavirus coverage, with our email newsletters","title":"Get the latest in your inbox"},{"snippet":"#bell-org-structure{padding:0;width:100%;border:0;overflow:hidden;} ","heading":"","fullWindow":false,"fullBleed":false,"showFullBleedOnMobile":false,"headColor":"","type":"html5mobile","textColor":"","mobileImageUrl":"","bgColor":"","imageUrl":"","registeredOnly":false,"linkUrl":"","aodaTitle":"Structure","internalScroll":false,"displayStyle":"small-up"},{"text":"‘We’re bleeding staff’","type":"text","isParagraph":true,"isHeading":false},{"text":"In telecoms, as in most major businesses, corporate restructuring is common practice. ","type":"text","isParagraph":true,"isHeading":false},{"text":"Every few years, company leaders dive deep into the day-to-day operations of their departments to find redundancies and cut costs. They trim payroll, consolidate positions and, come earnings season, report higher revenues and profit margins to shareholders. It’s an exercise that keeps big companies nimble and attractive to investors, but it often comes at the expense of workers. ","type":"text","isParagraph":true,"isHeading":false},{"text":"The layoffs at Bell Media mimicked an approach that former company officials say is familiar at BCE Inc. ","type":"text","isParagraph":true,"isHeading":false},{"text":"Soon after Oosterman took over at Bell Media in January 2021, he enacted a restructuring campaign that axed hundreds of jobs in newsrooms and radio stations while multiplying the workloads of many.","type":"text","isParagraph":true,"isHeading":false},{"text":"Per the officials, who asked to not be named, the company ranks most staff on a numerical hierarchy based on their title and salary and cuts their jobs accordingly. The ranking starts at “CP1,” which represents the lowest tier of staff, and on to CP2, CP3, CP4, most of whom are general managers and directors. The highest number in the hierarchy represents Mirko Bibic, Bell’s CEO. (The sources who spoke with the Star did not know what ‘CP’ stands for.)","type":"text","isParagraph":true,"isHeading":false},{"text":"“The way the cuts at Bell Media work is they start with the higher numbers and then trickle down,” said one former manager familiar with the process. ","type":"text","isParagraph":true,"isHeading":false},{"text":"“They cut the CP5s, and then the CP4s, and then the CP3s, CP2s and CP1s.”","type":"text","isParagraph":true,"isHeading":false},{"text":"Even before Oosterman took office, former managers at Bell Media recalled higher-ranking officials routinely asking them to make cuts.","type":"text","isParagraph":true,"isHeading":false},{"text":"“Directors would often come to our division and say, ‘OK, you have to lose, like, three CP4s, three CP3s and eight CP2s,’” said one former manager.","type":"text","isParagraph":true,"isHeading":false},{"text":"Early in January 2021, Oosterman abruptly cut seven presidents and vice-presidents at Bell Media. A few weeks later, several executive producers and general managers were shown the door. And by the end of the month, the company had axed the lowest rung: radio hosts, editors, digital producers and reporters, all in a couple of days.","type":"text","isParagraph":true,"isHeading":false},{"text":"In a memo to staff in February 2021, Oosterman acknowledged the departures were “unfortunate,” but a “reflection of the change necessary for Bell Media to prevail in a transforming sector that has also been uniquely impacted by COVID-19.”","type":"text","isParagraph":true,"isHeading":false},{"type":"relatedStories","relatedStories":[]},{"text":"For investors, Oosterman’s choices paid off. By the end of 2021, Bell Media’s results exceeded the company’s financial goals. Revenue grew by 10.4 per cent to $3.04-billion year-over-year, ending a revenue decline exacerbated by the COVID-19 pandemic. The media division’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) — a key indicator of financial success — rose 4.3 per cent to $725 million. Meanwhile, thanks to Bell Media’s focus on streaming services like Crave, subscriber revenue increased 4.8 per cent in 2021 while overall subscriptions to Crave grew by 200,000. ","type":"text","isParagraph":true,"isHeading":false},{"text":"But staff at Bell Media say the cuts threw the company’s newsrooms into disarray. So many key employees and managers lost work that the stations were having difficulty retaining institutional knowledge.","type":"text","isParagraph":true,"isHeading":false},{"text":"“There’s so much turnover that it’s hard to develop any kind of long-term strategic vision,” one source close to the company told the Star.","type":"text","isParagraph":true,"isHeading":false},{"text":"While the workforce shrunk, the company kept producing the same volume of content. “There are constant cuts, but the same content is delivered. That just means more people have more weight and more responsibility on their shoulders. How long can you sustain that?” the source said. ","type":"text","isParagraph":true,"isHeading":false},{"text":"At an internal town hall in August, employees at CTV confronted their bosses. “Morale in the newsroom has been horrible for months. We’ve been bleeding staff. I can name at least a dozen people who’ve left. If this is a company so keen on promoting mental health, why is no one checking on the mental health of its own staff?” one employee asked. ","type":"text","isParagraph":true,"isHeading":false},{"text":"According to former managers in Bell Media, many of the company’s decision-makers have long governed with the belief that their most popular brands — channels like CTV News, CP24, BNN Bloomberg — are of greater importance to the company than the personalities on TV or radio. Several former anchors at Bell Media news stations described instances where senior managers, including CTV vice-president of news Michael Melling, who reportedly ousted long-time CTV anchor LaFlamme, told them they were “replaceable.”","type":"text","isParagraph":true,"isHeading":false},{"text":"“Bell knows that every broadcast journalism student wants to be on TV, and that there are tons of broadcast schools in the GTA churning out graduates every year,” said a former manager at Bell Media. ","type":"text","isParagraph":true,"isHeading":false},{"text":"“If your weather reporter doesn’t want to do the job for less than $80,000, Bell can get a (Toronto Metropolitan University) grad to do it for $50,000 instead.”","type":"text","isParagraph":true,"isHeading":false},{"text":"For years, the company had laid off senior staff and high-profile figures with little trouble. Most managers, many of whom have nondisclosure agreements in their contracts, left without a public fuss. Mass cuts at Bell Media could reliably blend in with the deluge of downsizing that has so typically dogged the news industry.","type":"text","isParagraph":true,"isHeading":false},{"text":"In August, though, it was a single TV personality — and the transformative force of social media that, over two decades, have dramatically weakened broadcasting — whose departure swiftly plunged BCE Inc. into a public relations crisis.","type":"text","isParagraph":true,"isHeading":false},{"text":"“I was informed that Bell Media made a ‘business decision’ to end my contract, bringing to a sudden close my long career with CTV News,” said LaFlamme, in a two-minute-15-second homemade video, which she recorded on a phone and posted to Twitter, where she has more than 133,000 followers.","type":"text","isParagraph":true,"isHeading":false},{"text":"“I was blindsided, and I’m still shocked and saddened by Bell Media’s decision.”","type":"text","isParagraph":true,"isHeading":false},{"text":"LaFlamme’s video scored more than 4.6 million views, vastly outperforming the viewership of CTV News’ evening news segment. ","type":"text","isParagraph":true,"isHeading":false},{"text":"The moment underscored a shift in the balance of power. ","type":"text","isParagraph":true,"isHeading":false},{"type":"textBreakPoint","insertAt":"contentEndBreakPoint"},{"text":"“CTV as a brand is bigger than any one personality. But the personalities become the torchbearers of the brand, with platforms of their own that exist outside the company,” said Sikstrom. ","type":"text","isParagraph":true,"isHeading":false},{"text":"Jacob Lorinc is a Toronto-based reporter covering business for the Star. Reach him via email: jlorinc@thestar.ca","author":{"author":"Jacob 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When I heard about the re-release of the classic Nokia 3310 phone (in select markets), a wave of nostalgia engulfed me. I was reminded of simpler times when my face didnt cringe at the prospect of an incoming phone call. A time when I took simple pleasure in a ravenous 2D Snakes appetite instead of []


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A Professor Who Wrote a Book on Spotting Talent Explains Why He Loves to Hire People With Imposter Syndrome
A Professor Who Wrote a Book on Spotting Talent Explains Why He Loves to Hire People With Imposter Syndrome
Economist and author Tyler Cowen runs through all the reasons hiring managers should see imposter syndrome as a positive thing.




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45% of New Businesses Fail Within 5 Years: Here Are the 7 Reasons Why
45% of New Businesses Fail Within 5 Years: Here Are the 7 Reasons Why
Risk is an unavoidable part of life at a startup. Some new businesses start strong before hitting a rut, while others crash and burn in just a few months. The lucky few that go on to become the success stories we share over drinks with our partners are few and far between. There are several []


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Texas governor Greg Abbott sends 2 busloads of migrants to VP Harris neighborhood
Texas governor Greg Abbott sends 2 busloads of migrants to VP Harris neighborhood
Texas Gov. Greg Abbott continues to busing migrants out of Texas to cities with Democratic mayors as part of a political battle over the Biden administration's immigration policies.




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How Asian business leaders can prepare for a volatile future
How Asian business leaders can prepare for a volatile future
During the pandemic, many Asian companies reinvented the way they operated. Those who embrace this moment to strengthen their resilience could position their companies to succeed.


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Goldmans Apple Card business has a surprising subprime problem
Goldmans Apple Card business has a surprising subprime problem
Goldman's consumer business has had a bumpy ride as of late, marked by mounting losses, leadership turnover and missed product deadlines.




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Experts slam 'pittance' in aid to Pakistan as they find climate crisis played a role in floods
Experts slam 'pittance' in aid to Pakistan as they find climate crisis played a role in floods
An analysis of Pakistan's devastating floods has found "fingerprints" of the human-made climate crisis on the disaster, which killed more than 1,500 people and destroyed so much land and infrastructure it has plunged the South Asian nation into crisis.


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French air traffic control strike affects thousands of passengers
French air traffic control strike affects thousands of passengers
The Civil Aviation Authority has issued guidance which means that air passengers whose flights are cancelled or badly delayed on Monday because of Heathrow\'s changes will not legally be entitled to financial compensation. That is because these are likely to be deemed extraordinary circumstances.




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The surprising details behind DeSantis' and Abbott's immigration stunts | CNN Politics
The surprising details behind DeSantis' and Abbott's immigration stunts | CNN Politics
(CNN)Republican governors are in a cynical competition to outdo each other and send migrants from the US border by bus to New York, Washington, DC, Chicago and, now, by plane to Martha\'s Vineyard.


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Retired Mexican general arrested over Ayotzinapa students who vanished in 2014 | CNN
Retired Mexican general arrested over Ayotzinapa students who vanished in 2014 | CNN
"It is presumed that six of the students remained alive for four days after the events and that they were killed and disappeared on the orders of the presumably then-Colonel José Rodríguez Pérez," said Mexico's top human rights official Alejandro Encinas during the August press conference alongside Lopez Obrador.


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Trump Says Americans Won't 'Stand' For Charges Against Him, Warns Of Trouble
Trump Says Americans Won't 'Stand' For Charges Against Him, Warns Of Trouble
Big error by Trump. His words could be used against him if he is charged.Staking out the position that he “declassified” everything he brought to Mar-a-Lago may sound like it helps him, but actually it locks him into a story and makes it harder to pivot later if he is charged. https://t.co/ryYM1JhVzQ


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Save America PAC Pays Attorney $3 Million Advance To Defend Trump: Reports
Save America PAC Pays Attorney $3 Million Advance To Defend Trump: Reports
Several lawyers Trump’s team approached last month refused to represent the former president because they said he has a reputation for not following his attorneys’ advice and reneging on bills, the Journal reported.


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Seth Meyers Suspects Mike Lindell's FBI Order Isn't All It's Cracked Up To Be
Seth Meyers Suspects Mike Lindell's FBI Order Isn't All It's Cracked Up To Be
“I bet that piece of paper isn’t even an order from the FBI. In fact, if you zoom in, you can see it’s actually just a letter from Hardee’s that reads: ‘Your behavior was rude, your voice was too loud, you were in the drive-thru without a car, and as our staff repeatedly told you, you cannot bring a pillow case and demand that it be filled with breakfast sausages. Please do not patronize this establishment again,’” Meyers joked.


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Fox News and Republicans try to shift attention to crime as midterms loom
Fox News and Republicans try to shift attention to crime as midterms loom
Despite claims that Joe Biden has done nothing to address crime, the president recently signed both the first federal gun safety bill in nearly 30 years and the American Rescue Plan, under which he successfully pushed for $10bn for policing and public safety.


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Apple is now the market's most-shorted stock. If Tesla is an example, that's bullish.
Apple is now the market's most-shorted stock. If Tesla is an example, that's bullish.
The North American International Auto Show, better known as the Detroit Auto show, typically names a car, truck and utility vehicle of the year. There are a few strong candidates for the award.


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AI Isnt Ready to Make Unsupervised Decisions
AI Isnt Ready to Make Unsupervised Decisions
AI has progressed to compete with the best of the human brain in many areas, often with stunning accuracy, quality, and speed. But can AI introduce the more subjective experiences, feelings, and empathy that makes our world a better place to live and work, without cold, calculating judgment? Hopefully, but that remains to be seen. The bottom line is, AI is based on algorithms that responds to models and data, and often misses the big picture and most times cant analyze the decision with reasoning behind it. It isnt ready to assume human qualities that emphasize empathy, ethics, and morality.


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French Designer Laura Gonzalez Explains How She Reinvented The Saint James Chateau-Hotel In Paris
French Designer Laura Gonzalez Explains How She Reinvented The Saint James Chateau-Hotel In Paris
To put it in a nutshell, I would say that Patrice Dangel is particularly remarkable for having made the plaster chandeliers that may be found in practically every guestroom. The fresco in the reception area is also particularly representative of the Saint James. One may also notice the custom-made sconces and vases by Jean Roger Paris that may be found throughout the hotel, as a common motif in all the spaces. I’d also like to mention Sofrastyl, which sculpted a three-meter-high screen bas-relief in the lobby, and Pierre Mesguish, who created the decoration of the orangery in marble mosaic in the bar at the back of the garden.


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Patagonia say it's owned by the Earth now. Here's what that looks like.
Patagonia say it's owned by the Earth now. Here's what that looks like.
Impressively, Chouinard doesn’t get a tax break for the move. Instead, he will pay about $17.5 million in taxes on the gift of shares to the trust. The family will no longer receive any profits from the company.


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Carrot emojis hide anti-vax posts on Facebook
Carrot emojis hide anti-vax posts on Facebook
US President Joe Biden has criticised the tech giants for not doing enough to tackle the spread of misinformation about the vaccine online. \"They\'re killing people,\" he said of the companies in 2021.


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Retail sales fall as rising cost of living bites
Retail sales fall as rising cost of living bites
Ms Cross said that because of the government\'s Energy Price Guarantee, which will see annual household energy bills capped at £2,500 for typical use, any recession would be \"smaller and shorter than we did before\".


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A purchase at a small town sale turned out to be a 'priceless' de Kooning painting stolen in 1985
A purchase at a small town sale turned out to be a 'priceless' de Kooning painting stolen in 1985
The story of \"Woman-Ochre\" has now been made into a movie. Miller said the filmmakers did a \"great job\" and that she was \"especially impressed with how many interviews they secured, including … people who knew Jerry and Rita personally.\"


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Patagonia founder just donated the entire company, worth $3 billion, to fight climate change
Patagonia founder just donated the entire company, worth $3 billion, to fight climate change
Ryan Gellert will continue to serve as Patagonia\'s CEO, and the Chouinard family will remain on Patagonia\'s board following the apparel maker\'s expanded philanthropic strategy. After informing its employees on Wednesday about this move, the company updated its website to state that \"Earth is now our only shareholder.\"


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What to know about Raymond Dearie, the judge who will serve as Mar-a-Lago search special master | CNN Politics
What to know about Raymond Dearie, the judge who will serve as Mar-a-Lago search special master | CNN Politics
The agency had challenged the need for a special master in court before Cannon sided with Trump. In legal filings, the DOJ said it had identified "a limited set of materials" from its search of documents taken from Mar-a-Lago that potentially contained material covered by attorney-client privilege and that it was already in the process of addressing privilege disputes.


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At least 440 graves found at Izium burial site, Ukraine says
At least 440 graves found at Izium burial site, Ukraine says
Zelensky said on Tuesday that 8,000 square kilometers (3,088 square miles) of territory had now been liberated by Ukrainian forces so far this month, with roughly half the area still undergoing "stabilization" measures.


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Communities along Alaska's western coast are expected to face hurricane-force wind gusts and flooding Friday | CNN
Communities along Alaska's western coast are expected to face hurricane-force wind gusts and flooding Friday | CNN
While most areas will see around 1 inch of rain with this storm, some areas could pick up as much as 2 to 3 inches through the weekend. Even if Anchorage picks up 1 to 2 inches from this storm, it will push this year into the top five wettest years on record.


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Opinion: Adam Kinzinger's big regret
Opinion: Adam Kinzinger's big regret
David Axelrod, a senior CNN political commentator and host of \"The Axe Files,\" was a senior adviser to President Barack Obama and chief strategist for the 2008 and 2012 Obama presidential campaigns. The opinions expressed in this commentary are his. View more opinion on CNN.


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Perseverance rover finds organic matter 'treasure' on Mars | CNN
Perseverance rover finds organic matter 'treasure' on Mars | CNN
"I think it's safe to say that these are two of the most important samples that we will collect on this mission," said David Shuster, Perseverance return sample scientist at the University of California, Berkeley.


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Social media erupts after 'Jeopardy!' contestant allowed to change answer - CNN Video
Social media erupts after 'Jeopardy!' contestant allowed to change answer - CNN Video
Most stock quote data provided by BATS. US market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Factset: FactSet Research Systems Inc. All rights reserved. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates.


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Iowa teen ordered to pay her alleged rapist's family $150,000 is not the first sex trafficking victim penalized for killing their alleged assaulter
Iowa teen ordered to pay her alleged rapist's family $150,000 is not the first sex trafficking victim penalized for killing their alleged assaulter
"Injustice and violence against Black women and young girls are reproductive and racial justice crises, whether the harm is perpetrated by an abuser, police officer, or the courts and criminal legal system itself," Monica Simpson, executive director of SisterSong, told CNN.


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Video: See husky dog play on the roof of house in the absence of a backyard - CNN Video
Video: See husky dog play on the roof of house in the absence of a backyard - CNN Video
An Arizona husky dog that loves to hang out on the roof is becoming famous by taking being a "watchdog" to a whole new level. CNN affiliate KNXV's Christine Stanwood reports.


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What you need to know about the ethereum 'merge' | CNN Business
What you need to know about the ethereum 'merge' | CNN Business
Most stock quote data provided by BATS. US market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Factset: FactSet Research Systems Inc. All rights reserved. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates.


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Uber investigating 'cybersecurity incident' after hacker claims to access internal systems
Uber investigating 'cybersecurity incident' after hacker claims to access internal systems
Most stock quote data provided by BATS. US market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Factset: FactSet Research Systems Inc. All rights reserved. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates.


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Photos: King George VI's funeral | CNN
Photos: King George VI's funeral | CNN
When the Queen\'s coffin traveled from Buckingham Palace to Westminster Hall on Wednesday, there was a sea of smartphones above the crowd of people. The faces were more diverse and many were in casual clothes, some wearing Union Jack-themed attire. Modern technology will bring the ceremonies live to millions more around the world.


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John Kelly Read About Trump Mental Health As Officials Weighed 25th Amendment: Book
John Kelly Read About Trump Mental Health As Officials Weighed 25th Amendment: Book
Other unnamed senior officials reportedly shared Kelly’s view. “The Divider” quotes one as saying: “I think there’s something wrong with [Trump]. He doesn’t listen to anybody, and he feels like he shouldn’t. He just doesn’t care what other people say and think. I’ve never seen anything like it.”


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Jimmy Kimmel Pokes Trump's Sore Spot With An Insult He Really Hates
Jimmy Kimmel Pokes Trump's Sore Spot With An Insult He Really Hates
“He would do a swap, like it’s fantasy football or something,” Kimmel said. “You know, a lot of attention is paid to how dangerous and impulsive and vain Trump is. Sometimes we forget, also very stupid, also not very bright.”


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Glenn Youngkin Brings His 'I'm Not Thinking About 2024 Yet' Tour To Early Voting Nevada
Glenn Youngkin Brings His 'I'm Not Thinking About 2024 Yet' Tour To Early Voting Nevada
On Sept. 6, days after a clip of Youngkin awkwardly dancing to Norman Greenbaum’s “Spirit in the Sky” in his red vest at Dixon’s rally made the rounds on social media, Trump tried to take credit for Youngkin’s 2021 victory on his Truth Social web site.


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Phoenix Suns Vice Chairman Calls For Owner To Resign
Phoenix Suns Vice Chairman Calls For Owner To Resign
“There is no place in this league for that kind of behavior,” James continued. “I love this league and I deeply respect our leadership. But this isn’t right. There is no place for misogyny, sexism, and racism in any work place. Don’t matter if you own the team or play for the team. We hold our league up as an example of our values and this aint it.”


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Kanye West Says He's Splitting With Gap After 2 Years
Kanye West Says He's Splitting With Gap After 2 Years
The San Francisco retailer had been hoping the partnership with West would resonate with customers in a period of declining sales. For Yeezy, being in more than 1,100 Gap stores worldwide would have put his brand in front of more people.


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Ukraine's president says a new mass grave is found near a recaptured city
Ukraine's president says a new mass grave is found near a recaptured city
Ukrainian officials said Russian missiles late Wednesday struck a reservoir dam near Kryvyi Rih, Zelenskyy\'s birthplace and the largest city in central Ukraine. The strikes flooded over 100 homes.


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Mexico arrests a retired general in the case of dozens of missing students
Mexico arrests a retired general in the case of dozens of missing students
The organizations also called on authorities to appeal the judge\'s decision absolving Abarca and others. They said the ruling was the result of poor work by the Attorney General\'s Office that originally brought the charges, including the extensive use of torture which led much of the evidence to be excluded.


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Biden will meet with the families of Russia detainees Brittney Griner and Paul Whelan
Biden will meet with the families of Russia detainees Brittney Griner and Paul Whelan
\"While I would love to say that the purpose of this meeting is to inform the families that the Russians have accepted our offer and we are bringing their loved ones home, that is not what we\'re seeing in these negotiations at this time,\" she said.


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These photos follow the career of tennis great Roger Federer
These photos follow the career of tennis great Roger Federer
July 3, 2022: Roger Federer waves to the crowd on Centre Court during day seven of The Championships Wimbledon 2022 at All England Lawn Tennis and Croquet Club in London, England. Simon Stacpoole/Offside/Offside via Getty Images hide caption


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Judge appoints special master to review materials seized from Mar-a-Lago
Judge appoints special master to review materials seized from Mar-a-Lago
Cannon notes that Trump\'s team will bear the cost of the professional fees and expenses of the special master and any support staff or expert consultants who are engaged with the process. Trumps team had originally requested the cost be split between them and the government.


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Billions of coins feature Queen Elizabeth IIs portrait. What happens now?
Billions of coins feature Queen Elizabeth IIs portrait. What happens now?
The Bank of England, which issues the U.K.\'s banknotes, confirmed bank notes featuring the image of the queen would continue to be legal tender and said further announcements about the currency would be made \"once the period of mourning has been observed.\"


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Trussonomics? What to watch as the new UK prime minister battles multiple crises
Trussonomics? What to watch as the new UK prime minister battles multiple crises
Although Kwarteng\'s mini-budget will offer more details on how the tax cuts and energy package will be funded, many commentators and political opponents have suggested that Truss\'s opposition to levying windfall taxes on oil and gas companies — which have enjoyed record profits due to soaring energy prices — means the costs may well be recouped from taxpayers and cuts to investment in public services.


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FedEx Just Delivered Terrible Earnings News
FedEx Just Delivered Terrible Earnings News
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.


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Columbia whistleblower on exposing college rankings: They are worthless
Columbia whistleblower on exposing college rankings: They are worthless
"Also, there's been no move by the university to commission an external investigation, an investigation at arm's length by a third party such as a law firm, which is standard practice when ranking scandals erupt. If I had seen some move like that by the university, I would be more inclined to think that the errors were honest and inadvertent," he said.


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World Bank warns higher interest rates could trigger global recession
World Bank warns higher interest rates could trigger global recession
The study suggested that central banks could combat inflation without triggering a global recession by communicating their policy decisions clearly, while policymakers should put in place credible medium-term fiscal plans and continue to provide targeted relief to vulnerable households.


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Son of Fijian prime minister faces NSW court on domestic violence-related charges
Son of Fijian prime minister faces NSW court on domestic violence-related charges
The men said that the case came at a problematic time for the prime minister, who is gearing up for an election in November, which some analysts suggest could be the closest-fought election in recent Fijian history.


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Australian farmers fear exports could be hurt by new EU land-clearing laws
Australian farmers fear exports could be hurt by new EU land-clearing laws
This issue is expected to feature in a meeting on Monday between the trade minister, Don Farrell, and a delegation from the European parliament’s committee on international trade, which will discuss progress on free trade agreement negotiations.


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Courts lift suppression orders on ATO whistleblower Richard Boyles landmark case
Courts lift suppression orders on ATO whistleblower Richard Boyles landmark case
Last month, after Guardian Australia and other outlets requested access to documents in the case, commonwealth prosecutors sought suppression orders, which would have hindered the ability to report on the whistleblower case.


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Parts of Australias south-east brace for wet, cold and windy weather
Parts of Australias south-east brace for wet, cold and windy weather
In Tasmania, gusty winds were also expected about the east coast on Friday and due to continue north-westerly over the weekend and become light in the evening on Saturday. Showers were forecast for the state through to Monday.


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Calls for 50,000 new social houses in Queensland before 2032 Olympics
Calls for 50,000 new social houses in Queensland before 2032 Olympics
The Queensland government’s efforts to build more homes have largely focused on releasing more land for greenfield development. On Thursday, the state took control of the Redlands council’s housing policy, citing their negligence in, not an inability to, update the city plan of the area – southeast of Brisbane.


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Skyrocketing airfares mean diehard Collingwood fans make pilgrimage to SCG, any way they can
Skyrocketing airfares mean diehard Collingwood fans make pilgrimage to SCG, any way they can
“Currently our ewes are lambing and I’m leaving them in the hands of my wife,” he said. “Friday afternoon I’ll make the journey on my own, I plan to camp in my swag in Albury then make the rest of the way there on Saturday morning.


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Russia-Ukraine war live: reports of mass burial site outside recently liberated Izium
Russia-Ukraine war live: reports of mass burial site outside recently liberated Izium
The continuation of the business operations of the affected refineries was in danger due to the ownership of the companies. Central critical service providers such as suppliers, insurance companies, IT companies and banks, but also customers, were no longer willing to work with Rosneft.


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When mourning ends, reality will hit hard: European journalists on Britains mood
When mourning ends, reality will hit hard: European journalists on Britains mood
"A country claiming to be Global Britain has, meanwhile, since Brexit, become a narrow minded, anti-immigrant, internally divided society. Driven by a sect-like group of conservative Brexiters it has ended up with a minister of energy who is a climate sceptic. It tells you a lot about the state of the UK that Jacob Rees-Mogg is more reactionary in his environmental policies than the new king Charles III."Tessa Szyszkowitz, UK correspondent for Austrian weekly newspapers Falter and Profil


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Queen lying in state: queueing time passes 11 hours ahead of princes evening vigil live updates
Queen lying in state: queueing time passes 11 hours ahead of princes evening vigil  live updates
The Canadian prime minister, Justin Trudeau, has paid tribute to the Queen, reflecting on meeting her for the first time when he was just a child and saying Canadians "feel like they have lost a family member".


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Two police officers stabbed near Leicester Square in central London
Two police officers stabbed near Leicester Square in central London
A Taser was deployed and a male arrested on suspicion of causing grievous bodily harm and assaulting an emergency worker. The suspect was taken to hospital for treatment where he remains, according to police.


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Britains lowest-paid workers say finances have never been worse
Britains lowest-paid workers say finances have never been worse
The latest inflation data, published earlier this week, showed prices rising at an annual rate of 9.9%. The government's energy measures are expected to shave up to 5 percentage points off inflation, which the Bank of England had previously expected to peak above 13%.


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Uber investigating computer network breach report
Uber investigating computer network breach  report
"I announce I am a hacker and Uber has suffered a data breach," the message read, and went on to list several internal databases that were claimed to be compromised, the report added.


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I did not identify as a lesbian: Anne Heche reflects on Ellen DeGeneres in upcoming memoir
I did not identify as a lesbian: Anne Heche reflects on Ellen DeGeneres in upcoming memoir
The book's release was first announced by Publishers Weekly. Heche had mentioned writing a memoir during a podcast earlier this year, in which she promised that "some of the truths" about her and DeGeneres would be included.


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KPMG partners in Dubai seek suspension of local leadership
KPMG partners in Dubai seek suspension of local leadership
Keep abreast of significant corporate, financial and political developments around the world.Stay informed and spot emerging risks and opportunities with independent global reporting, expertcommentary and analysis you can trust.


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Turkeys Darwinian companies ride out 80% inflation
Turkeys Darwinian companies ride out 80% inflation
Keep abreast of significant corporate, financial and political developments around the world.Stay informed and spot emerging risks and opportunities with independent global reporting, expertcommentary and analysis you can trust.


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Vladimir Putins Ukraine woes strengthen Xi Jinping in no limits partnership
Vladimir Putins Ukraine woes strengthen Xi Jinping in no limits partnership
Get local insights from Lisbon to Moscow with an unrivalled network of journalists across Europe,expert analysis, our dedicated ‘Brussels Briefing’ newsletter. Customise your myFT page to trackthe countries of your choice.


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Russias invasion of Ukraine in maps latest updates
Russias invasion of Ukraine in maps  latest updates
Cartography and development by Steve Bernard, Chris Campbell, Caitlin Gilbert, Emma Lewis, Joanna S Kao, Sam Learner, Ændra Rininsland, Niko Kommenda, Alan Smith, Martin Stabe, Neggeen Sadid and Liz Faunce. Based on reporting by Roman Olearchyk and John Reed in Kyiv, Guy Chazan in Lviv, Henry Foy in Brussels and Neggeen Sadid in London.


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Dan Loebs volte-face on ESPN shines a light on Disneys woes
Dan Loebs volte-face on ESPN shines a light on Disneys woes
Keep abreast of significant corporate, financial and political developments around the world.Stay informed and spot emerging risks and opportunities with independent global reporting, expertcommentary and analysis you can trust.


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Naked Wines lures back former chief to advise board
Naked Wines lures back former chief to advise board
Keep abreast of significant corporate, financial and political developments around the world.Stay informed and spot emerging risks and opportunities with independent global reporting, expertcommentary and analysis you can trust.


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Wait for the Year-End Rally, Says Morgan Stanley; Here Are 2 Stocks to Play That Bullish Outlook
Wait for the Year-End Rally, Says Morgan Stanley; Here Are 2 Stocks to Play That Bullish Outlook
There is always a collective groan in the classroom when the teacher turns the lesson to a subject that no student likes. In that vein, sorry, but I need to talk about the bond market today. It has been absolutely awful this year.


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Germany Seizes Assets of Russian Oil Giant Rosneft
Germany Seizes Assets of Russian Oil Giant Rosneft
My children have inherited $5 million of stock from their father (whose estate has not yet been dispersed after 11 months) leaving them with a 30% or so loss of value over which they have had no control. Is there … Continue reading → The post Ask an Advisor: My Kids Inherited $5 Million. How Should They Handle It? appeared first on SmartAsset Blog.


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Figmas Record-Breaking Sale to Adobe Delivers Billions to Top VCs
Figmas Record-Breaking Sale to Adobe Delivers Billions to Top VCs
In this piece, we will take a look at the 13 best semiconductor stocks to buy now. If you want to skip the details and jump ahead to the top five stocks in this list, then take a look at the 5 Best Semiconductor Stocks to Buy Now. The high technology sector is a double […]


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Chiefs rally to take down Chargers, seize early control of AFC West
Chiefs rally to take down Chargers, seize early control of AFC West
Eye-popping stat: Rookie Zander Horvath caught a 1-yard touchdown pass in the second quarter to put the Bolts up 10-0. A seventh-round pick from Purdue, Horvath also had a 1-yard touchdown reception in Week 1\'s 24-19 win over the Raiders. Horvath becomes the first seventh-round pick to catch a touchdown pass in each of his first two career games since Chansi Stuckey for the Jets in 2008. Stuckey caught a touchdown pass in three straight games to start his career. -- Lindsey Thiry


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'Remarkable' Thomas' huge night keeps Sun alive
'Remarkable' Thomas' huge night keeps Sun alive
\"For me, I approached the game like I approached any other game,\" Thomas said. \"I think we just wanted it. We\'ve been struggling offensively. We haven\'t really been hitting shots and tonight we came out ready.\"




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