Apple unveils new iPhone 13, patches security flaw in operating system
Apple is unveiling its newest products and technology including the highly anticipated iPhone 13. It's releasing a software update to fix a serious security flaw that could allow hackers to access any Apple device without action from the device's owner. CBSN technology reporter Dan Patterson joins anchor Tanya Rivero with details.news.yahoo.com
White House Chief of Staff Ron Klain points to Europe to argue American recovery wasn't 'inevitable'
Europe's economy shrank during the first quarter of 2021 while the United States' grew, and the White House is pointing to the former as evidence the latter was not "inevitable." During the first three months of 2021, Europe's economy shrank 0.6 percent, taking it back into a recession and underlining "how the region is lagging other major economies in rebounding from the coronavirus pandemic," The Associated Press reported Friday. Meanwhile, the Bureau of Economic Analysis said Thursday the U.S. economy grew 1.6 percent in the first three months of 2021, per The Washington Post. While linking to news that Europe's economy shrank in the first quarter, White House Chief of Staff Ron Klain tweeted Friday, "There was nothing 'inevitable' or 'easy' about the turnaround we've seen in America these 100 days." MSNBC's Chris Hayes agreed with Klain's assessment, arguing that while the United States "has had one of the worst public health responses to COVID," it has had "among the best fiscal responses in the world," something Hayes said "goes back to last year" before President Biden took office. The New York Times wrote that Europe's economy shrinking in the first quarter reflected its "far less aggressive stimulus spending and a botched effort to secure vaccines," while also noting that Europe "began the crisis with far more comprehensive social safety net programs" and "limited a surge in unemployment." But CNN writes that Europe's economy is "beginning to show signs of life," with experts anticipating that, as restrictions are relaxed and vaccines continue to roll out, there will be a "strong rebound." More stories from theweek.comRepublicans reveal their red lineThere's no such thing as intellectual propertyWhat the Elon Musk backlash is really aboutnews.yahoo.com
FTC shuts down savings app Beam under tentative settlement
Beam aimed to let users earn higher interest rates on their money by engaging with its mobile savings app. Beam — the mobile savings app that imploded last year after a CNBC investigation revealed dozens of customers were unable to get their money out — has been shut down for good under a tentative settlement with the Federal Trade Commission. As part of the settlement, Beam is banned from operating a mobile banking app or any other product or service that can be used to deposit, store, or withdraw funds. Under the settlement, neither Beam nor Du admit wrongdoing. Beam, which launched in 2019, billed itself as "the first mobile high-interest savings account for the 99%."cnbc.com
North Carolina teen hit with stun gun, beaten and body slammed at hospital, lawsuit says
A North Carolina teenager taken to a hospital by his mother for help with a mental health crisis was hit with a stun gun, beaten and body slammed by hospital personnel and sheriff's deputies, then left bleeding and handcuffed outside, according to a lawsuit. The lawsuit says Jessica Long had taken her 16-year-old son to Atrium Health Lincoln in Lincolnton in December 2019 and asked security officers to help get him inside, The Charlotte Observer reported Tuesday. Atrium and Lincoln County Sheriff Bill Beam told CBS affiliate WBTV last year that the officers acted appropriately given the teen's threatening behavior. But Long's attorney, Brad Smith of Charlotte, told the newspaper that the video clearly shows that Long and her son went to the hospital "in crisis and in desperate need of medical care." The lawsuit names Atrium Health, the Charlotte-Mecklenburg Hospital Authority, deputies Justin Polson and Michael Johnson and Sheriff Beam.cbsnews.com
BEAM sees ‘historic levels of need’ amid pandemic
The Beaches Emergency Assistance Ministry continues to serve an influx of families who have been hit hard by COVID-19. The organization has supplied more than 1 million pounds of food to at-risk populations since January. Lori Richards, executive director of BEAM, said the need for assistance is unprecedented. “Since April, we have continued to see historic levels of need,” explained Richards. Since January, the organization has also supplied more than 1 million pounds of food to those in need at the beaches.
Next stimulus package may extend student loan payment pause until May
It appears that lawmakers on both sides of the aisle are in favor of extending the student loan forbearance. Student loan borrowers may not have to worry about their monthly bills until at least May of next year. In a summary of bipartisan legislation circulated on Wednesday that could become the next stimulus package, lawmakers included a provision to continue student loan forbearance through April 30, 2021. The U.S. Department of Education first said in March that the 42 million Americans with federal student loans would be off the hook from their monthly bills until September. Then President Donald Trump signed an executive order in August that continued the interest-free reprieve until the end of December.cnbc.com
Beam customers are getting money back, but savings app still faces federal investigation
Customers of mobile savings app Beam, some of whom complained that they had been unable to access their deposits for months, say they are finally getting their money back. A CNBC investigation in October found that Beam promised customers above-market interest rates on federally insured deposits, and "24/7 access" to their funds. Now, even as the company is processing those customer requests, it faces multiple lawsuits, a federal investigation and an uncertain future. "Meanwhile, we are 100% focused on making Beam customers right." The complaint was filed Nov. 10 in federal court in San Francisco by Burlingame, California, law firm Cotchett, Pitre & McCarthy, LLP.cnbc.com
FTC sues savings app Beam Financial, demanding customers get their money back
Instead, the complaint says, customers who have attempted to withdraw money are given the runaround. As CNBC first reported in October, dozens of Beam customers complained that they were unable to access their funds, in some cases for months. In a statement, the FTC said Beam "misled users about access to their funds." A spokeswoman for Beam declined to respond to the substance of the FTC complaint, but told CNBC in an e-mail that the company is making progress getting people their money back. In its complaint, the FTC said getting funds returned often required extreme action on the part of customers.cnbc.com
Despite promises, Beam depositors still can’t get access to their money. Now the lawsuits have begun
Beam aimed to let users earn higher interest rates on their money by engaging with its mobile savings app. That's according to a lawsuit filed in an Ohio court by three Beam vendors who say they are being wrongly blamed for the delays. The suit asks the court to order Beam's cooperation in getting customers' money back. The suit says that despite Beam's claims, Dwolla never placed a hold on any Beam customer funds. Under the arrangement, the customers' funds are FDIC-insured.cnbc.com
New accounts aim to help you beat inflation. But you have to work for your money
That is because the average interest rate on a traditional savings account is 0.1% annual percentage yield. To help combat that problem, more companies are providing high-interest accounts to help you get a higher return on your money. Through the account, savers can earn anywhere from 1.7% interest all the way up to 7% APY daily. If friends put money in their accounts that pushes a user's rate even higher. The idea is to give savers more control over their money, according to Aaron Du, co-founder and CEO of Beam.cnbc.com
Area back to school events
Below is a list of area events to help students and families get prepared for the upcoming school year. 10 a.m. – noon at 2078 Cassat AvenueThe Divine Intervention and Prevention Foundation will kick off the annual back to school supply and clothing giveaway. MWUGL of Jacksonville giveaway 2017Aug. 5, 10 a.m. - 2 p.m. at the Most Worshipful Union Grand Lodge, 410 North Broad StreetFree school supplies, clothing, haircuts, vision screenings, health education and more. School Supply DriveJuly 30 - Aug. 12 at Maurices in the Oak Leak Town Center at 9625 Crosshill BoulevardSchool supply drive to help children in the local community. 500 free backpacks with school supplies included.