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<ul class="summary-list"><li><keyword id="12054994" type="UNKNOWN" weightage="60" keywordseo="steve-bannon" source="Orion">Steve Bannon</keyword>'s defense lawyer almost took a top role in the office now handling January 6 cases.</li><li><keyword id="12569369" type="UNKNOWN" weightage="60" keywordseo="evan-corcoran" source="Orion">Evan Corcoran</keyword> is also representing a Capitol police officer accused of obstructing DOJ's investigation.</li></ul>When Steve Bannon stepped outside a federal courthouse Monday and pledged to make his criminal prosecution the "misdemeanor from hell" for the Biden administration, he was flanked by a lawyer who had previously defended former President <keyword id="11914386" type="UNKNOWN" weightage="60" keywordseo="donald-trump" source="Orion">Donald Trump</keyword> in his second impeachment.But it wasn't that lawyer, <keyword id="12569370" type="UNKNOWN" weightage="60" keywordseo="david-schoen" source="Orion">David Schoen</keyword>, who did the talking days later during an initial court hearing before the<a href="https://www.businessinsider.com/steve-bannon-trump-judge-carl-nichols-2021-11"> Trump-appointed judge</a> presiding over Bannon's case. It was instead M. Evan Corcoran, a lower-profile defense lawyer with his own notable backstory and caseload connected to the January 6 attack on the Capitol.In early 2020, Corcoran nearly took a top role in the US attorney's office in Washington, DC, which is now prosecuting Bannon on <a href="https://www.businessinsider.com/steve-bannon-indicted-grand-jury-contempt-of-congress-2021-11">contempt of Congress charges</a> over the Trump ally's refusal to comply with a subpoena from the special House committee investigating the Capitol siege. Corcoran was in line to become the second-ranking official in the federal prosecutor's office under <keyword id="12569368" type="UNKNOWN" weightage="60" keywordseo="tim-shea" source="Orion">Tim Shea</keyword>, a top Trump-era <keyword id="11897354" type="UNKNOWN" weightage="60" keywordseo="justice-department" source="Orion">Justice Department</keyword> official whom then-Attorney General William Barr had appointed as the acting US attorney in Washington.Shea arrived as an outsider and turned to Corcoran, a law school friend who in the 1990s had served as a federal prosecutor in the office, for the role of first assistant US attorney, according to people familiar with the offer. But, within months, Shea was forced out of the US attorney role <a href="https://www.washingtonpost.com/local/legal-issues/us-attorney-timothy-sheas-role-in-roger-stone-sentencing-storm-remains-in-question/2020/02/14/947c6c30-4dc8-11ea-9b5c-eac5b16dafaa_story.html">amid outcry</a> over the Justice Department leadership's interventions in the <a href="https://www.politico.com/news/2019/11/15/roger-stone-found-guilty-of-lying-to-congress-witness-tampering-071124">prosecutions of Roger Stone</a> and former Trump national security advisor <a href="https://www.businessinsider.com/trump-pardons-former-national-security-advisor-michael-flynn-2020-3">Michael Flynn</a>.Corcoran's would-be return to the office fizzled with Shea's exit, the National Law Journal <a href="https://www.law.com/nationallawjournal/2020/07/20/inside-the-disharmony-at-the-dc-federal-prosecutors-office/">reported</a>. Shea spent the remainder of the Trump administration as the <a href="https://www.dea.gov/press-releases/2020/05/19/attorney-general-barr-announces-timothy-j-shea-new-acting-administrator">acting head</a> of the Drug Enforcement administration. <div type="image" title="Michael Riley" height="2800" width="3733" msid="87807033" hostid="261"></div><h2>Beyond Bannon, a notable January 6 case</h2>A year later, Corcoran is on the other side defending Bannon against the federal prosecutor's office in perhaps its high-profile pending case. Corcoran is also representing the longtime Capitol police officer who was indicted last month on charges that he obstructed the Justice Department's investigation into the January 6 attack by contacting a rioter and encouraging him to remove social media posts placing him at the scene of the violence that day. His client, Officer Michael Riley, pleaded not guilty last month and resigned from the Capitol police force.In a separate January 6-related case, Corcoran is representing Frank Scavo, a Pennsylvania man who pleaded guilty to participating in the Capitol riot. Scavo is set to be sentenced on November 22.Corcoran, a Baltimore-based partner at the firm Silverman Thompson Slutkin White, declined to comment.At a court hearing Thursday in Bannon's case, Corcoran pushed back against a federal prosecutor's request for Judge Carl Nichols to set a trial date. Assistant US attorney Amanda Vaugh described Bannon's prosecution as a "very straightforward case about whether or not the defendant showed up" for closed-door questioning from the special House committee."So we don't see any reason to delay setting a trial date in this matter," she said.Corcoran said the case involves "complex constitutional issues" and that the defense team hoped to obtain documents from Congress and the Biden administration in connection with the case. "I understand that there's some suggestion that the case ought to be accelerated, or it ought to be handled in a more narrow fashion, but we don't agree with that," Corcoran said. "The key here is our ability to identify the documents and the witnesses that will allow us to present a defense for Mr. Bannon."At another point, Corcoran noted that the court has been strained by the pandemic-related delays of trials and the deluge of prosecutions stemming from the January 6 attack on the Capitol."A historic number of criminal prosecutions are in the court. As a very practical matter, we're not asking to cut in line, And we understand that that is something that affects the court's docket," Corcoran said.Blocking off dates for a trial next year, Corcoran added, "would have a compounding fact on many other people, many other accused, who are seeking their day in court but, for reasons that are totally out of the control of the court, haven't been able to get there."Nichols appeared to bristle at the notion he needed help managing his docket. "I can manage the interplay between this case and the other cases on my docket," he said, "in a way that will ensure that no one will not have their day in court."

Steve Bannon's new lawyer went from almost joining Trump's DOJ to defending the bombastic GOP operative and January 6 defendants too

<ul class="summary-list"><li>Evan Corcoran is one of Donald Trump's most recent legal hires.</li><li>The Baltimore attorney previously represented Steve Bannon and January 6 defendants.</li></ul>M. Evan Corcoran, a once little-known, low-profile defense lawyer, has emerged in recent months as a key figure in the ongoing <a href="https://www.businessinsider.com/mar-a-lago-raid-what-we-know-search-trump-home-2022-8">Mar-a-Lago raid saga</a> as one of Donald Trump's most recent legal hires.Corcoran joined the embattled former president's legal team in April — <a href="https://www.businessinsider.com/trump-offered-lawyer-evan-corcoran-job-without-having-met-report-2022-8">Trump offered Corcoran the job without ever having met him</a>, according to <a href="https://www.washingtonpost.com/national-security/2022/08/23/trump-records-mar-a-lago-fbi/">The Washington Post</a> — and quickly entrenched himself in his client's <a href="https://www.businessinsider.com/donald-trump-key-cases-civil-criminal-investigations-lawsuits-updates-2022-7?r=US&amp;IR=T">myriad legal troubles.</a>But Corcoran himself has become headline fodder in the aftermath of the FBI's August 8 raid on Trump's South Florida residence, during which <a href="https://www.businessinsider.com/fbi-11-sets-classified-documents-mar-a-lago-raid-2022-8">agents seized 11 sets of classified documents</a>, including some marked top secret, from the former president's residence and private club.A former federal prosecutor turned white collar criminal defense attorney, Corcoran is a partner at the Baltimore law firm Silverman, Thompson, Slutkin &amp; White. According to his <a href="https://www.silvermanthompson.com/m-evan-corcoran.html">webpage on the site</a>, Corcoran represented an insurance company in a $4 billion insurance coverage case stemming from the World Trade Center collapse, and defended corporate officials in the Justice Department's cartel investigations.The lawyer apparently made a name for himself in complex business litigation and government enforcement actions before becoming ensnared in the legal woes of Trumpworld.<h2>Previous MAGA clients</h2>Corcoran joined Trump's legal team with prior experience representing bombastic figures.Most notably, <a href="https://www.businessinsider.com/steve-bannon-lawyer-evan-corcoran-justice-department-january-6-cases-2021-11">Corcoran represented Steve Bannon</a>, former chief strategist for the Trump administration, in his contempt of Congress case. Earlier this summer, A jury in Washington, DC, <a href="https://www.businessinsider.com/steve-bannon-guilty-contempt-congress-jury-trial-house-january-trump-2022-7">found Bannon guilty of the charges against him</a>, despite Corcoran's appeal that the case was unjustly fueled by politics. Corcoran found himself defending Bannon after nearly taking a top role in the same US attorney's office that would later go on to prosecute the War Room host.In early 2020, <a href="https://www.businessinsider.com/steve-bannon-lawyer-evan-corcoran-justice-department-january-6-cases-2021-11">Corcoran was in line to become the second-ranking official</a> in the federal prosecutor's office under Tim Shea, a top Trump-era Justice Department official whom then-Attorney General William Barr had appointed as the acting US attorney in Washington. Shea arrived as an outsider and turned to Corcoran, a law school friend who had served as a federal prosecutor in the office in the 1990s, for the role of first assistant US attorney, according to people familiar with the offer.But, within months, Shea was forced out of the US attorney role <a href="https://www.washingtonpost.com/local/legal-issues/us-attorney-timothy-sheas-role-in-roger-stone-sentencing-storm-remains-in-question/2020/02/14/947c6c30-4dc8-11ea-9b5c-eac5b16dafaa_story.html">amid outcry</a> over the Justice Department leadership's interventions in the <a href="https://www.politico.com/news/2019/11/15/roger-stone-found-guilty-of-lying-to-congress-witness-tampering-071124">prosecutions of Roger Stone</a> and former Trump national security advisor <a href="https://www.businessinsider.com/trump-pardons-former-national-security-advisor-michael-flynn-2020-3">Michael Flynn,</a> ultimately ruining Corcoran's would-be return to the office.Beyond his experience with Bannon, Corcoran also waded into the world of the Capitol riot, representing <a href="https://www.businessinsider.com/capitol-police-officer-michael-riley-january-6-doj-plea-deal-2021-11">the longtime Capitol police officer who was indicted on charges</a> of obstructing the DOJ's investigation into the siege, as well as defending a Pennsylvania man who pleaded guilty last year to participating in the riot. <h2>A fateful conference call</h2>Now Corcoran finds himself defending perhaps the most notorious legal client the country has seen in recent history.A person familiar with Corcoran's interaction with Trump told The Post last month that the former president offered his newfound attorney the job without ever meeting him after being introduced via a conference call by another Trump advisor.Corcoran has since found himself embroiled in Trump's most recent legal drama and <a href="https://www.theguardian.com/us-news/2022/aug/31/donald-trump-lawyers-christina-bobb-evan-corcoran">could theoretically be implicated in the mess</a>, as he and another Trump lawyer, Christina Bobb, both communicated with the DOJ during the months-long effort by government officials to retrieve boxes of classified documents from Trump's resort. Corcoran did not respond to Insider's request for comment.

Meet Evan Corcoran — Trump's most recent lawyer who previously represented Steve Bannon and Jan. 6 defendants

Washington, May 18 (AP) The US attorney who oversaw the reversal of a sentencing recommendation for Trump ally Roger Stone and the motion to dismiss charges against ex-national security adviser Michael Flynn will become the nation's top drug enforcement official, according to an administration official.The official says Tim Shea, a former senior adviser to Attorney General William Barr, will become the administrator of the Drug Enforcement Administration. Shea will be replaced be Justin Herdman, the U.S. attorney in Cleveland, who will move into the role as top federal prosecutor for the District of Columbia.The current DEA administrator, Uttam Dhillon, will take on a role as a senior official at the Justice Department, the official said.The official could not discuss the matter publicly before a formal announcement and spoke to The Associated Press on condition of anonymity.Shea has led the U.S. attorney's office in Washington, the largest in the country, since February. The office has historically been responsible for some of the most significant and politically sensitive cases the Justice Department brings in the United States.In February, Barr and Shea overruled prosecutors in Stone's case, arguing that an initial recommendation from the prosecutors was excessive. The entire Stone trial team quit the case, and one of the prosecutors left the Justice Department altogether.Shea also signed a motion seeking to drop the charges against Flynn earlier this month. In court papers, the Justice Department said a review of the case uncovered troubling legal issues, including what Barr believes were irregularities in the FBI's 2017 interview of Flynn, who pleaded guilty to lying to agents about his conversations with the Russian ambassador.The judge presiding over Flynn's criminal case has appointed a retired jurist to evaluate whether the former Trump administration national security adviser should be held in criminal contempt. (AP) RS RS

Source: Trump admin. to name new DEA head, US attorney in DC

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Marcio Jose Sanchez/APTim Cook, CEO of Apple, which is widely expected to launch a subscription streaming video service next month.</div></div></div><ul class="summary-list"><li><a href="https://www.businessinsider.com/category/apple">Apple's</a> impending video service is getting a lot of hype.</li><li>But even if it's smash hit, the video service won't be able to make up for Apple's declining iPhone sales, Jefferies analyst Tim O'Shea shows in a new report.</li><li>In a best case scenario, a video subscription service would only provide about 5% of Apple's revenue, according to O'Shea's estimates.</li><li>And there are reasons to think Apple could have a tough time luring customers to its video service.</li></ul>Apple's upcoming streaming video service won't do much to boost the company's flagging financial fortunes, even if it's wildly successful.That's the assessment of Tim O'Shea, an analyst who covers the iPhone maker for Jefferies. In a research report late Thursday, O'Shea estimated that if Apple's video service had 250 million subscribers in 2023, it still would account for only about 5% of the company's revenue that year - and wouldn't make up for its declining smartphone sales. By point of reference, after offering streaming video for 12 years, Netflix has 139 million subscribers."It's going take a long time for this type of service to really move the needle," O'Shea told Business Insider.To figure out the potential of the video service, which Apple widely expected to launch next month, O'Shea estimated that Apple would charge customers $15 a month for the offering and would take a 30% cut of the revenue, giving the rest to video production partners.If the service was extremely successful and hit 250 million subscribers, it would yield $13.5 billion in revenue for Apple. That's nothing to sneeze at. After all, Netflix's total sales last year were $15.8 billion.But in the context of Apple, such a figure would be just a drop in the bucket. In fiscal 2018, the company posted revenue of $265 billion. Although O'Shea and other analysts expect Apple's sales to drop sharply this year before slowly recovering in coming ones, $13.5 billion would still represent only a small fraction of the company's revenue.<h2>Apple could have a tough time in the video business</h2>Apple has shown with its Apple Music service that it can grow such offerings relatively quickly by tying them closely to iOS, the software underlying the iPhone, O'Shea said. Apple Music now has 50 million paid subscribers and reached that total much quicker than market leader Spotify, he said.But it's likely that Apple will have a tougher time in video, O'Shea said. The iPhone maker is just one of numerous companies that have or will launch streaming video services in the near future. And it's unclear how many services consumers will sign up for.Apple's spending a fraction of what Netflix is spending on original shows and movies, meaning that at least at first it will likely be far more dependent than the streaming video giant on third-party content. But the company's plans to take a 30% cut on revenue may not sit well with many Hollywood studios and networks, he said."It's hard see how those economics fly," O'Shea said.Even before the launch of Apple's video service, Netflix has been trying to avoid having to pay the similar commission Apple charges app store developers for subscriptions that come in through their iPhone apps. Netflix instead has been encouraging customers to sign up for its service via its web site.Apple could find it hard to sign up customers to its own video service if too many production companies balk at offering shows and movies through it. Already Netflix <a href="https://www.businessinsider.com/apple-video-streaming-service-netflix-hbo-report-2019-2">has balked at being a part of Apple's service</a> and HBO has yet to commit to it, <a href="https://www.cnbc.com/2019/02/13/apple-targets-april-launch-for-video-service.html?__source=twitter%7Cmain">CNBC reported</a>."There are only a handful of players that make content that matter," O'Shea said. "If you lose one or two of them, it makes your service much less attractive."<h2>The decline of the iPhone business is really hurting Apple</h2>But even if Apple overcomes such obstacles, it faces an even bigger problem - the iPhone. Apple's smartphone sales accounted for $167 billion in sales last year, and the iPhone may be the single biggest product business of any company ever, O'Shea said.Because it's so huge, even a small percentage drop in its sales can more than wipe out big gains in other parts of Apple's business. And that's exactly what O'Shea and other analysts are expecting to happen this year after Apple <a href="https://www.businessinsider.com/apple-q1-2019-earnings-iphone-sales-revenue-eps-analysis-2019-1">saw a 15% drop in iPhone revenue</a> in its first fiscal quarter. For his part, O'Shea expects Apple smartphone sales to fall to $135 billion this year, a drop of more than $30 billion. Read this: <a href="https://www.businessinsider.com/bernstein-toni-sacconaghi-iphone-upgrade-rate-replacement-cycle-2019-2">One of Apple's best-known analysts says an all-time low iPhone upgrade rate is going to cause more pain than investors realize</a>O'Shea is optimistic about Apple's services offerings in general. In addition to Apple Music and the upcoming streaming video business, the company's services include its app store business, the licensing revenue it gets for making Google the default search engine on the iPhone, and its iCloud storage offerings.The services business "is big, real, and growing," he said. "It's going to be big over time."But right now, the deterioration in the iPhone business is overwhelming everything else."These iPhone declines are by far the dominant trend," O'Shea said, continuing, "Services at this point are not big enough to offset that pressure."<ul class="read-more-links"><li>Read more about Apple:</li><li><a href="https://www.businessinsider.com/apple-must-reverse-angela-ahrendts-luxury-brand-strategy-2019-2" data-read-more-link="" data-e2e-name="read-more-link">Here's why Angela Ahrendts' departure could be a good thing for Apple</a></li><li><a href="https://www.businessinsider.com/apple-facebook-twitter-iphone-sales-monthly-daily-users-investors-2019-2" data-read-more-link="" data-e2e-name="read-more-link">Facebook and Twitter are following in Apple's footsteps by hiding some of their most important numbers. Here's why investors should be concerned</a></li><li><a href="https://www.businessinsider.com/most-important-things-apple-earnings-call-2019-1" data-read-more-link="" data-e2e-name="read-more-link">The most important things we learned from Apple's earnings call</a></li><li><a href="https://www.businessinsider.com/apple-q1-2019-earnings-iphone-sales-revenue-eps-analysis-2019-1" data-read-more-link="" data-e2e-name="read-more-link">iPhone sales crater 15% in Apple's worst holiday results in a decade, and the forecast looks just as grim</a></li></ul> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/samsung-galaxy-s10-phone-launch-what-to-expect-2019-2">Everything we know about the Galaxy S10, which is shaping up to be Samsung's best phone yet</a></h3> <div> </div> </div>

Here's why Apple's upcoming streaming video service won't rescue it from plunging iPhone sales

<ul class="summary-list"><li>The <keyword id="6361805" type="UNKNOWN" weightage="60" keywordseo="NBA">NBA</keyword>'s season outside of the bubble is off to a rough start.</li><li>Seven games have been postponed in the first 24 days, while several teams have played with only eight players available.</li><li>The NBA introduced new protocols to slow the spread of COVID-19, and they were mocked by players and analysts alike.</li><li>The NBA is reportedly determined not to pause its season, but the situation may become untenable as the pandemic worsens.</li></ul>The NBA, like MLB and the NFL before it, is attempting to <a href="https://www.insider.com/when-next-nba-season-starts-league-players-debate-december-2020-10">conduct its 2020-21 season</a> outside of a bubble. The early results are not encouraging.Seven games have been postponed through 24 days of the season, including two Tuesday night and one on Wednesday, due to teams not having enough players between injuries and COVID-19 protocols.<div type="image" title="jayson tatum bradley beal" height="1499" width="1999" msid="80255903" hostid="261"></div>A third game on Tuesday, between the <keyword id="564486" type="ORGANIZATION" weightage="60" keywordseo="Philadelphia-76ers">Philadelphia 76ers</keyword> and <keyword id="509520" type="ORGANIZATION" weightage="60" keywordseo="Miami-Heat">Miami Heat</keyword>, was played with only eight Heat players available - the minimum requirement to play a game. Seven Heat players were inactive due to injury or COVID-19 protocols.The scene between the Heat and 76ers has become a familiar one this season: the 76ers recently played a game with only eight available players. The 76ers head coach Doc Rivers told reporters he didn't believe the game should be played. The <keyword id="166490" type="ORGANIZATION" weightage="60" keywordseo="Boston-Celtics">Boston Celtics</keyword> and Dallas Mavericks have also played games short-handed.On Tuesday, the NBA and players union announced new, stricter protocols to slow the spread of the novel <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword> within the league. The rules include more mask-wearing during games and away from the court, more space during travel, and fewer interactions during the game, such as hugging after games or high-fiving between free throws. The new rules also call for players to stay home or in their hotels except for team business at arenas or team facilities and emergencies. Players are no longer allowed to go out to pre-approved restaurants or bring non-team guests to their hotel rooms.The new rules were met with mocking around the NBA world.On Tuesday, Oklahoma City Thunder guard George Hill openly defied the new rules and questioned if the NBA should be playing."I'm a grown man. I'm gonna do what I want to do," Hill said. "If I want to go see my family, I'm going to go see my family. They can't tell me I have to stay in a room 24/7. If it's that serious, then maybe we shouldn't be playing. But it's life; no one's going to be able to just cancel their whole life for this game."Hill added: "I don't understand some of the rules. We can sweat 48 minutes with a guy next to us for 48 minutes, but we can't talk to them afterwards. It makes no sense."<h2>Another bubble was "untenable," but the current setup may be, too</h2>In a December media call, NBA Commissioner Adam Silver said the prospect of another <a href="https://www.insider.com/lakers-champions-nba-bubble-surreal-season-2020-10">"bubble" like the NBA ran in Disney World</a> to finish the 2019-20 season was "untenable."Indeed, those involved in the bubble process bemoaned the isolation, lack of freedom, and repetitiveness of the schedule. It wasn't just the players - there were coaches, training staff, and league employees all separated from family for large chunks of time, confined to hotel rooms and resort grounds.<div type="image" title="nba bubble" height="1666" width="2222" msid="80255906" hostid="261"></div><a href="https://messaging-custom-newsletters.nytimes.com/template/oakv2?campaign_id=48&amp;emc=edit_msb_20210112&amp;instance_id=25933&amp;nl=marc-stein-on-basketball&amp;productCode=MSB&amp;regi_id=85763681&amp;segment_id=49111&amp;te=1&amp;uri=nyt%3A%2F%2Fnewsletter%2Fed21973d-65fb-5f7c-8079-2a207fcbbbf8&amp;user_id=a5cb0a04c317e35cc7851293399e51f9_id=a5cb0a04c317e35cc7851293399e51f9">The New York Times' Marc Stein reported</a> on Tuesday that the league initially proposed regional bubbles to reduce travel, at least until the COVID-19 vaccine is more widely available. The players union shot the idea down.The NBA expected that the early part of the season would bring cases and postponements. The league has not yet announced the second half of the schedule to keep flexibility to make up lost games.<a href="https://theathletic.com/2315639/2021/01/11/amid-nba-covid-surge-league-optimistic-after-we-get-through-the-darkest-days/">The Athletic's Shams Charania reported</a> that Silver told the players that he projects circumstances to improve in February. The idea of pausing the season was not even brought up. Stein noted that the league is "determined" not to pause the season.Yet, there are reasons to believe that the NBA's current situation is likely to continue, even into the spring when vaccines may be more widely available. Unlike football and baseball, all NBA games are played indoors, in close contact. The NBA schedule rivals MLB's in the frequency of games, but baseball is primarily played outdoors, with less contact between players.The behavior of the NBA's population may be a factor, too. <a href="https://t.co/W0No9lIfls?amp=1">ESPN's Brian Windhorst said on the "Hoop Collective" podcast</a> on Monday that much of the NBA has had the novel coronavirus, and their lifestyles reflect it."There's a lot of NBA players who have had COVID," Windhorst said. "In stories I wrote before the start of the season, from talking to people, people were saying they thought, they were guestimating, around 30%. It's probably significantly higher than that."As a result, there are players who have antibodies and are living their life, and even people in their family, differently than those who don't."Windhorst added: "It's hard enough to get these guys to live under the restrictions they're putting on them anyway ... Some of the guys feel like, 'If I get this, I'll be sick for a few days and I'll be fine.'"This was the case with <keyword id="581561" type="PERSON" weightage="60" keywordseo="James-Harden">James Harden</keyword>, who skipped the start of Houston Rockets training camp <a href="https://www.insider.com/james-harden-lil-babys-bday-party-misses-rockets-practice-2020-12">to attend rapper Lil' Baby's birthday party</a>. Videos on social media showed him maskless in a large gathering, and he faced a week of quarantine and negative tests before he was allowed to return to the floor.Brooklyn Nets guard <keyword id="688692" type="PERSON" weightage="60" keywordseo="Kyrie-Irving">Kyrie Irving</keyword> is facing a similar situation. <a href="https://www.insider.com/kyrie-irving-out-personal-reasons-nets-2021-1">Irving has been away from the team</a> for "personal reasons." He also was recently seen in videos posted to social media at a mask-less gathering that appeared to be a birthday party. The NBA is now investigating the video, but Irving faces quarantine when he returns to the team and must return negative tests.These lengthy lay-offs also increase injury risk, as players will have to work out on their own, then return to the team. In some cases, the one- or two-week self-isolation periods could be extended if players fall out of shape or suffer an injury while ramping up to gameplay.The NBA's new protocols are set to last for two weeks. Without a significant improvement in the situation, the league may have to face pausing. However, that is not without risks also. According to Stein, the NBA believes players are as likely to contract the virus away from the game as they are with the season in session.

The NBA's new COVID-19 protocols are being mocked as the pandemic season starts to spiral out of control

<ul class="summary-list"><li><keyword id="6534156" type="UNKNOWN" weightage="60" keywordseo="Democrats">Democrats</keyword> are seeking to raise the federal minimum wage to $15 an hour as part of a $1.9 trillion <keyword id="45304" type="COMPANY" weightage="60" keywordseo="Stimulus">stimulus</keyword> package. </li><li><keyword id="42111" type="COMPANY" weightage="60" keywordseo="Wall-Street">Wall Street</keyword> sees the proposed hike in minimum <keyword id="6355283" type="UNKNOWN" weightage="60" keywordseo="Pay">pay</keyword> from $7.25 an hour facing an uphill battle in the Senate. </li><li>Vaccinations and further fiscal stimulus are stoking prospects for double-digit earnings growth for S&amp;P 500 companies. </li></ul>Raising the federal minimum wage to $15 an hour is a proposal being floated as part of the $1.9 trillion stimulus package that's headed for a vote next week in Washington. Meanwhile, the spotlight on American pay conditions landed on <keyword id="80487" type="COMPANY" weightage="60" keywordseo="walmart">Walmart</keyword> after the retail behemoth this week said it will raise wages for some of its workers.But Wall Street by and large appears unconcerned about the proposed federal wage increase. Here are a few reasons why that's the case:Walmart can afford its pay pushWalmart said its pay raises for some workers will go into effect in March. It will, however, keep the starting rate at $11 an hour. The initiative is set to bring the pay for 425,000 associates to between $13 and $19 an hour.The pay raises are aimed at <a href="https://www.businessinsider.com/walmart-pay-minimum-wage-ceo-why-not-15-per-hour-2021-2">creating a "ladder" system</a> to help employees move up in the company, Chief Executive Doug McMillon told investors Thursday. Also, the investment is aimed at supporting a new structure that puts an <a href="https://www.businessinsider.com/walmart-sees-remarkable-shift-in-shopper-behavior-as-sales-surge-2020-8?utm_source=yahoo.com&amp;utm_medium=referralrral">emphasis on digital sales</a>, an area that's strengthened since the start of the COVID-19 pandemic."Walmart is not doing this out of altruism. They are doing it because they think it's good business," said Brad McMillan, chief investment officer at Commonwealth Financial Network, in a telephone interview Thursday."When you look at Walmart's cost structure, they are a low-margin business by design. They are a high-staffed business by design and they can still afford to do this. Is this going to have an effect on Apple? I don't think so." <a href="https://markets.businessinsider.com/stocks/wmt-stock">Walmart's stock</a> dropped 6.5% on Thursday <a href="https://markets.businessinsider.com/news/stocks/walmart-q4-earnings-stock-price-profit-guidance-ecommerce-raises-wmt-2021-2-1030097421">after warning</a> it expects slower revenue growth through the next fiscal year and for its profit to decline slightly. "We acknowledge the company's tempered guidance for FYE 2022, with some COVID-19 impact," wrote Charlie O'Shea, vice-president at Moody's, in a media statement. "[H]owever it is our continued view that the investments Walmart continues to make will, like the past cycle, generate increasing traction on all fronts, and are therefore prudent and sensible."The minimum wage proposal is unlikely to pass   Democrats are pushing for the federal minimum wage to be <a href="https://www.businessinsider.com/democrats-push-for-15-federal-minimum-wage-but-economists-are-mixed">increased to $15 by 2025</a>. The minimum rate has been $7.25 since 2009. President Joe Biden this week reiterated his support for the wage-hike proposal. "It's about doing it gradually," and stair-stepping increases, he <a href="https://www.cnn.com/2021/02/17/politics/15-dollar-minimum-wage-biden/index.html">said at a CNN Town Hall</a>.But Biden also has cast doubt on the proposal's chances of success within the larger stimulus package. "I put it in, <a href="https://www.cbsnews.com/news/biden-trump-intelligence-briefings/">but I don't think it's going to survive</a>," he told CBS News earlier this month.The proposal needs the support of 60 Senators, and it appears unlikely that 10 <keyword id="66537" type="ORGANIZATION" weightage="60" keywordseo="Republicans">Republicans</keyword> will join 50 Democrats to pass the measure."Forcing a $15 minimum wage into a coronavirus relief <keyword id="19032" type="PERSON" weightage="60" keywordseo="Bill">bill</keyword> would do nothing but shutter the millions of small businesses already on life support and would force those that survive to lay-off employees," said Senator Tim Scott of South Carolina, <a href="https://thehill.com/policy/finance/534543-bidens-minimum-wage-push-faces-uphill-battle-with-gop">according to The Hill</a>. The non-partisan Congressional Budget Office <a href="https://www.cbo.gov/publication/56975">in an analysis</a> of the Democrats' Raise the Wage Act found that the pay increase could lead to 1.4 million lost jobs, while lifting 900,000 people out of poverty.Vaccines, cash to consumers, and earnings growth are at handWhile Washington is still wrangling over pay for American workers, some big players in Corporate America have been moving forward.For a handful of companies, "higher minimum wage could negatively impact earnings but we have seen a trend over the last several years where a number of companies were already stepping up to raise their starting wages," Paul Hickey, co-founder of Bespoke Investment Group, told Insider.Amazon, Best Buy, Costco and Target have increased their starting pay to $15 an hour. Amazon exec Jay Carney earlier this year wrote a letter <a href="https://www.businessinsider.com/amazon-vp-jay-carney-letter-support-raise-minimum-wage-2021-1">in support of the proposed minimum wage increase to $15</a>."In general...you're seeing companies within economic data and survey data finding qualified labor at current prices. It could be a trend down the road where we see increased labor-cost pressures," said Hickey.Whether or not the wage-hike proposal wins Congressional approval, companies facing labor-cost headwinds "are either going to have to increase wages or find other ways, through technology, to use less labor," he said. Meanwhile, the topic of the federal minimum wage proposal has barely come up during recent earnings calls.John Butters, senior earnings analyst at FactSet, ran a search for the term "minimum wage" in the earnings-call transcripts of all the S&amp;P 500 companies that have conducted calls from December 15 through Wednesday.Only 10 companies have cited or used the term "minimum wage" on their calls over that period, Butters wrote in emailed comments. Rather, what has Wall Street's attention is the likelihood of continued economic recovery from the devastating coronavirus crisis."By comparison, 333 S&amp;P 500 companies have cited or used the term 'covid' over this same period," Butters wrote.More than 57 million Americans <a href="https://covid.cdc.gov/covid-data-tracker/#vaccinations">have received COVID-19 vaccinations</a> and with millions more in line, bolstering the view that more businesses will be able to reopen and stay open.Washington may send out $1,400 checks to millions of households if the new stimulus package is passed. This week, retail sales in January showed a jump of 5.3%, outstripping expectations of 1%. Many analysts noted the spending surge followed the December approval of a <a href="https://www.businessinsider.com/trump-signs-coronavirus-relief-bill-after-calls-stimulus-checks-2020-12">$900 billion aid package</a> that included $600 direct payments and expanded unemployment benefits.<a href="https://markets.businessinsider.com/news/stocks/economic-outlook-coronavirus-economy-stimulus-aid-savings-rate-pandemic-bofa-2021-2-1030099001">Economic recovery prospects</a> have helped push <a href="https://markets.businessinsider.com/news/stocks/stock-market-today-global-stocks-trading-record-highs-vaccine-stimulus-2021-2-1030085719">stocks to record highs </a>and drive up corporate earnings expectations. The percentage of S&amp;P 500 companies that have issued positive first-quarter earnings guidance is 64%, running above the five-year average of 33%, according to weekly analysis from Butters at FactSet. Analysts are also anticipating double-digit earnings growth for all four quarters of 2021.If Wall Street is concerned about the minimum-wage proposal, "it's pretty well-hidden by other factors," said McMillan at Commonwealth.

3 reasons why Wall Street isn't worried about a $15 minimum wage hike, according to 3 experts

Washington, May 8 (AP) In an abrupt about-face, the Justice Department said it is dropping the criminal case against President Donald Trump's first national security adviser, Michael Flynn, abandoning a prosecution that became a rallying cry for the president and his supporters in attacking the FBI's Trump-Russia investigation.The action Thursday was a stunning reversal for one of the signature cases brought by special counsel Robert Mueller. It comes even though prosecutors for the past three years have maintained that Flynn lied to the FBI in a January 2017 interview about his conversations with the Russian ambassador.Flynn admitted as much, pleading guilty before later asking to withdraw the plea, and he became a key cooperator for Mueller as the special counsel investigated ties between Russia and Trump's 2016 political campaign.Thursday's action was swiftly embraced by Trump, who has relentlessly tweeted about the "outrageous" case and last week pronounced Flynn "exonerated," and it is likely to energize supporters of the president who have taken up the retired Army lieutenant general as a cause.Trump praised Attorney General William Barr for abandoning the prosecution of Flynn."Bill Barr is a man of unbelievable credibility and courage and he's going to go down on the history books," Trump told "Fox &amp; Friends" on Friday.Trump said that if Barr had been his first attorney general, there would never have been a Russia probe."He would have stopped it immediately," Trump said.Democrats, however, have complained that Barr is excessively loyal to the president."Attorney General Barr's politicization of justice knows no bounds," House Speaker Nancy Pelosi said. She accused Barr's department of "dropping the case to continue to cover up for the president." Shortly before the filing was submitted, Brandon Van Grack, a Mueller team member and veteran prosecutor on the case, withdrew from the prosecution, a possible sign of disagreement with the decision.After the Flynn announcement, Trump declared that his former aide had been "an innocent man" all along. He accused Obama administration officials of targeting Flynn and said, "I hope that a big price is going to be paid." Going further, he said of the effort to investigate Flynn: "It's treason. It's treason." In court documents filed Thursday, the Justice Department said that after reviewing newly disclosed information and other materials, it agreed with Flynn's lawyers that his interview with the FBI should never have taken place because his contacts with the Russian ambassador were "entirely appropriate." The US attorney reviewing the Flynn case, Jeff Jensen, formally recommended dropping it to Barr last week, the course of action publicly recommended by Trump, who appointed Barr to head the Justice Department.Barr has increasingly challenged the federal Trump-Russia investigation, saying in an interview last month that it was started "without any basis." In February, he overruled a decision by prosecutors in the case of Roger Stone, a longtime Trump friend and adviser, in favour of a more lenient recommended sentence.Jensen said in a statement that he "briefed Attorney General Barr on my findings, advised him on these conclusions, and he agreed." The department's action comes amid an internal review into the handling of the case and an aggressive effort by Flynn's lawyers to challenge the basis for the prosecution. The lawyers cited newly disclosed FBI emails and notes last week to allege that Flynn was improperly trapped into lying when agents interviewed him days after Trump's inauguration.None of the documents appeared to undercut the central allegation that Flynn had misled the FBI.In recent months, Flynn's attorneys have levelled allegations about the FBI's actions and asked to withdraw his guilty plea. A judge has rejected most of the claims and not ruled on others, including the bid to revoke the plea.Earlier this year, Barr appointed Jensen, the top federal prosecutor in St. Louis, to investigate the handling of Flynn's case.As part of that process, the Justice Department gave Flynn's attorneys internal FBI correspondence, including one handwritten note from a senior FBI official that mapped out internal deliberations about the purpose of the Flynn interview: "What's our goal? Truth/admission or to get him to lie, so we can prosecute him or get him fired?" Other documents show the FBI had been prepared before its interview to drop its investigation into whether he was acting at the direction of Russia. Later that month, though, as the White House insisted that Flynn hadn't discussed sanctions with Russian Ambassador Sergey Kislyak, FBI officials grew increasingly concerned by Flynn's conversations with the diplomat and kept the investigation open to question him about that. Two agents visited him at the White House on January 24, 2017.But Thursday's filing, signed by US Attorney Tim Shea, says the FBI had no basis to continue investigating Flynn after failing to find illegality. It says there was nothing on his Russia calls "to indicate an inappropriate relationship between Mr Flynn and a foreign power." (AP) RUP

Trump praises Barr for dropping Flynn's Trump-Russia case

<div class="KonaFilter image-container display-table"><div><div class="image on-image">AppleApple CEO Tim Cook</div></div></div><ul class="summary-list"><li><a href="https://markets.businessinsider.com/stocks/aapl-stock?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Apple</a> this week reclaimed its crown as the most-popular stock among millennial traders on the free-trading app Robinhood.</li><li>Shares fell 10% in the wake of the company's third-quarter results.</li><li>Robinhood investors have been snapping up shares as the stock sits at its lowest level in almost three months.</li><li><a href="https://markets.businessinsider.com/stocks/aapl-stock">Watch Apple trade live</a></li></ul><a href="https://markets.businessinsider.com/stocks/aapl-stock?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Apple</a> regained its position as the favorite stock among millennial traders after its quarterly results triggered a big sell-off.The tech giant on November 1 reported <a href="https://www.businessinsider.com/apple-q4-2018-earnings-iphone-sales-revenue-eps-analysis-2018-11?utm_source=msn.com&amp;utm_medium=referral&amp;utm_content=msn-slideshow&amp;utm_campaign=bodyurl?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">underwhelming third-quarter iPhone sales</a> and said it would <a href="https://www.businessinsider.com/apple-will-no-longer-report-iphone-sales-unit-numbers-2018-11?utm_source=msn.com&amp;utm_medium=referral&amp;utm_content=msn-slideshow&amp;utm_campaign=bodyurl" target="_blank" rel="noopener">no longer reveal unit sales</a> for its hardware. Shares dropped as much as 10% in five days following the results, pushing Apple's <a href="https://markets.businessinsider.com/news/stocks/apple-stock-price-loses-1-trillion-valuation-2018-11-1027685220?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">market capitalization below $1 trillion</a>.With Apple trading at its lowest level in almost three months, millennial investors are snapping up shares. According to data from Robinhood, a free-trading app popular with younger investors, Apple replaced Ford as the most-popular stock on the platform, with 199,221 investors currently holding the stock, up 14,013 from last week. Also, Robinhood data compiled by Markets Insider show that Apple is consistently among millennials' favorite stocks, and outranked all the others in seven of the past nine weeks on the app. It last held the crown the week through October 18.Wall Street analysts have also been bullish on the iPhone maker."We believe Apple intends to tell a compelling Services story," the Jefferies analyst Timothy O'Shea recently said in a note, adding that Apple would disclose Services gross margin for the first time - a potential catalyst for the stock. He has a price target of $265 - 27% above where shares were trading on Thursday.And Wedbush analyst Daniel Ives said that Apple's decision not to report hardware sales was a 'Houdini-like metrics move,' but his core bullish thesis on Apple remains unchanged. Ives has a price target of $310.Shares were up 21% this year.<h2>Read more stories on Apple:</h2><ul><li><a href="https://markets.businessinsider.com/news/stocks/apple-stock-price-below-200-first-time-since-august-2018-11-1027692188">Apple slides below $200 for the first time in 3 months</a></li><li><a href="https://markets.businessinsider.com/news/stocks/apple-stock-price-earnings-iphone-sales-not-revealed-2018-11-1027684723?utm_source=markets&amp;utm_medium=ingest#jefferies-we-believe-aapl-intends-to-tell-a-compelling-services-story-1" target="_blank" rel="noopener">'Houdini-like metrics move': Here's what Wall Street is saying about Apple's decision not to reveal its iPhone sales</a></li><li><a href="https://markets.businessinsider.com/news/stocks/apple-stock-price-millennials-buying-dip-ahead-of-earnings-2018-11-1027681925?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Millennials are buying the Apple dip ahead of earnings </a></li><li><a href="https://www.businessinsider.com/apple-ipad-mac-october-event-success-2018-10">Apple knocked its big iPad and Mac event out of the park</a></li></ul><div class="KonaFilter image-container display-table"><div><div class="image on-image">Markets Insider</div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/what-happens-when-you-dont-get-enough-sleep-2017-12">A sleep expert explains what happens to your body and brain if you don't get enough sleep</a></h3> <div> </div> </div>

Apple reclaims its crown as the most-popular stock among millennials

In a rebuke to President Barack Obama and his threat of veto, <a href="http://www.businessinsider.com/house-obamacare-bill-vote-keep-your-plan-fred-upton-2013-11" target="_blank">39 House Democrats earlier Friday voted for GOP-sponsored legislation</a> that would allow insurers to keep offering health plans even if they do not meet certain minimum requirements of the Affordable Care Act.
It wasn't as many as Democratic aides had privately feared earlier this week, but the defections are a significant jump from a Democratic caucus that, for the most part, has stood unified on the 40-plus House GOP attempts to repeal or alter the law. Before Friday, the largest number of <keyword id="6534156" type="ORGANIZATION" weightage="60" keywordseo="Democrats">Democrats</keyword> that had voted against the law was 35, on a July bill to delay <keyword id="6579869" type="PERSON" weightage="60" keywordseo="ObamaCare">Obamacare</keyword>'s employer mandate. 
What do the 39 Democrats have in common? Most are in competitive districts in next year's midterm election, and all are being targeted by the campaign arm of Republicans for their support of Obamacare at a time when it is <a href="http://www.businessinsider.com/obamacare-enrollment-numbers-healthcare-gov-october-affordable-care-act-aca-2013-11" target="_blank">becoming less and less popular and its rollout has been a disaster</a>.
"I will work with any member, Democrat or Republican, who is willing to work together to find common-sense solutions such as this to put the American people first," said Patrick Murphy (D-Fla.), a freshman Democrat who is a prime target for Republicans next year. 
Murphy's praise of the law went directly against many other Democrats and the White House, who painted it as a step in Republican attempts to dismantle the law. It is understandable in light of the expected attacks against him - but it definitely does not mean that Republicans will stop targeting him. 
<a href="http://www.nationaljournal.com/hotline-on-call/most-vulnerable-house-democrats-side-with-gop-on-obamacare-vote-20131115" target="_blank">The National Journal's Scott Bland has</a> some good data profiling the Democrats who voted in favor of Rep. Fred Upton's (R-Mich.) bill on Friday:
<ul>
<li>Eight of nine Democrats who hail from districts won by Mitt Romney in the 2012 presidential election voted for the bill. </li>
<li>Only two Democrats who come from districts in which Obama won less than 53% of the vote last year voted "no" on the bill. </li>
<li>28 of 36 Democrats who come from districts in which Obama won less than 55% of the vote voted in favor of the bill. </li>
</ul>
Here's the full list of Democratic defectors:
<ul>
<li>Rep. Ron Barber (D-Ariz.)</li>
<li>Rep. John Barrow (D-Ga.)</li>
<li>Rep. Ami Bera (D-Calif.)</li>
<li>Rep. Tim Bishop (D-N.Y.)</li>
<li>Rep. Bruce Braley (D-Iowa)</li>
<li>Rep. Julia Brownley (D-Calif.)</li>
<li>Rep. Cheri Bustos (D-Ill.)</li>
<li>Rep. Jim Costa (D-Calif.)</li>
<li>Rep. Peter DeFazio (D-Ore.)</li>
<li>Rep. Suzan DelBene (D-Wash.)</li>
<li>Rep. Tammy Duckworth (D-Ill.)</li>
<li>Rep. Bill Enyart (D-Ill.)</li>
<li>Rep. Elizabeth Esty (D-Conn.)</li>
<li>Rep. Bill Foster (D-Ill.)</li>
<li>Rep. Pete Gallego (D-Texas)</li>
<li>Rep. John Garamendi (D-Calif.)</li>
<li>Rep. Joe Garcia (D-Fla.)</li>
<li>Rep. Ron Kind (D-Wis.)</li>
<li>Rep. Ann McLane Kuster (D-N.H.)</li>
<li>Rep. Dave Loebsack (D-Iowa)</li>
<li>Rep. Dan Maffei (D-N.Y.)</li>
<li>Rep. Sean Maloney (D-N.Y.)</li>
<li>Rep. Jim Matheson (D-Utah)</li>
<li>Rep. Mike McIntyre (D-N.C.)</li>
<li>Rep. Jerry McNerney (D-Calif.)</li>
<li>Rep. Patrick Murphy (D-Fla.)</li>
<li>Rep. Rick Nolan (D-Minn.)</li>
<li>Rep. Bill Owens (D-N.Y.)</li>
<li>Rep. Scott Peters (D-Calif.)</li>
<li>Rep. Gary Peters (D-Mich.)</li>
<li>Rep. Collin Peterson (D-Minn.)</li>
<li>Rep. Nick Rahall (D-W.Va.)</li>
<li>Rep. Raul Ruiz (D-Calif.)</li>
<li>Rep. Brad Schneider (D-Ill.)</li>
<li>Rep. Kurt Schrader (D-Ore.)</li>
<li>Rep. Carol Shea-Porter (D-N.H.)</li>
<li>Rep. Kyrsten Sinema (D-Ariz.)</li>
<li>Rep. Filemon Vela (D-Texas)</li>
<li>Rep. Tim Walz (D-Minn.)</li>
</ul>

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