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It's a familiar story: A young child is diagnosed with cancer. His desperate parents ask for emotional and financial support, netting thousands of dollars in donations and the attention of organizations moved by the child's plight.It's a story of human struggle and kindness. And in this case, authorities say, it was a complete lie.Last summer, Martin and Jolene LaFrance of Port Byron, New York, began claiming their then-9-year-old son CJ had cancer. They raised more than ,000 and wrangled a visit to a Syracuse University football practice before the truth came out: CJ didn't have cancer at all. 611
It’s week one of pro football, during the second game of a doubleheader Monday night and fans are packed in at Society Sports and Spirits in Denver.Despite the hometown team being three point underdogs, many people hope they just cover the spread.“What we’ve known for a long time is Americans like to bet on sport,” said Casey Clark of the American Gaming Association.Clark says more than 33 million Americans will bet on professional football this year. After a recent Supreme Court ruling, gambling on games will be a lot easier.Sports betting is now legal in 18 states plus Washington, D.C.Clark says four other states have passed bills legalizing sports betting and he expects more to follow suit for financial reasons.“About 1 million has been generated in tax revenue across those states in that short amount of time,” he said. “So, you’ve seen significant uptick in opportunity for states and counties and local jurisdiction.”One state that’s seeing immediate pay off after legalizing sports betting in May, is Colorado.“Colorado has a 10 percent tax on the wins,” said Dan Hartman, director of the Colorado Division of Gaming. Hartman predicts legal sports betting will generate millions of dollars in tax revenue, and it has already created more jobs in a few months in Colorado.“One of the operators from Australia is they’re moving their entire North American headquarters to Denver -- bringing 200 jobs,” he said.Many fans are betting on games through apps on their phones.“It’s been a challenging few months with the COVID and tax receipts are down,” said Mike Raffensperger with FanDuel the largest online real money gaming company in the US.Raffensperger is now seeing more government leaders reach out about generating extra income through gambling.“We’ve been speaking with regulators and legislators around the country and they’re looking for new sources of tax revenue and they been seeing the success,” he said.Success so financially tempting that it could lead to more states betting on legal gambling to help financially during this worldwide pandemic. 2086
In the congressional debate over gun control, all eyes are on the Cabinet Room in the White House for a Wednesday afternoon meeting.As House Republicans made clear, any and all gun restrictions were off the table, and senators still grappled with what, if any, path forward they had. It's President Donald Trump who will dictate the next steps in the gun debate.Bottom line: Sweeping gun restrictions -- at this point, any gun restrictions -- are not in the cards in the Republican-led Congress. That much seems clear. But the top aides in both parties continue to acknowledge that the President can scramble the direction of things if the meeting takes some kind of unexpected turn toward, say, the comprehensive background checks measure that's hanging out in the Senate. 787
In the 45 weeks since the year began, 43 law enforcement officers across the US have been shot and killed in the line of duty, including a sheriff's deputy responding to a mass shooting at a bar in California this week.The parameters CNN followed in this count are: 273
Investors were in a rotten mood Tuesday.Seemingly good results from Dow components Caterpillar, Coca-Cola and United Technologies didn't please Wall Street. The Dow closed down 425 points, or 1.7%, after opening with a 130-point gain. At its worst point of the day, the Dow was down more than 600 points.The Dow has fallen for the past five straight days — its longest losing streak in more than a year — and has given up its gains for the year.Why the nearly 650-point swing in the Dow in a matter of hours? Once investors took a closer look at the results, they focused on the negatives.Caterpillar, for example, warned that profit margins would probably not get any higher this year than they are now.And Coke investors were disappointed that lower prices may have helped drive sales -- even though Diet Coke finally returned to growth. Shares of Caterpillar plunged 6% while Coke's stock lost 2%.Verizon was one of the few companies that posted strong results Tuesday that didn't seem to have any caveats -- and it was rewarded for it. Shares of Verizon rose 2%.But other earnings reports were downright gloomy. 3M, another Dow component, lowered its outlook for the year. That sent its stock plunging 7%. Insurance company Travelers, also in the Dow, fell 3% after its earnings missed forecasts.All this negativity dragged down other old-school, classic industrial Dow companies too. Boeing and DowDuPont both fell about 3%.And tech investors were disappointed by increased expenses at Google parent Alphabet.Related: Why everyone is stressing about the 10-year Treasury Even though Alphabet posted solid gains in earnings and revenue that easily topped Wall Street's estimates, the stock fell 5% — and that helped drag down the S&P 500, Nasdaq and tech titans Apple, Amazon, Microsoft and Facebook.It didn't help that the yield on the 10-year US Treasury note rose above 3% for the first time in more than four years Tuesday morning.If this benchmark bond rate keeps climbing, it may make it more expensive to borrow money for mortgages and auto loans and could eat into profits at big US companies — especially since the Federal Reserve is expected to keep raising short-term rates.Still, one expert said investors may be overreacting to the moves in the bond market."I don't know that there is any magic to the 3.0% level other than it is a nice round number," said Jeff Mills, co-chief investment strategist for PNC Financial Services Group. "There is no rule that says rising rates are bad for the stock market."Mills added that since 1928, stocks have actually done a little bit better when rates have gone up. The market has gained about 11% on average during years that rates have gone up and 9% in years of falling rates.But jittery investors don't seem to care about historical market facts right now. They are selling first and asking questions later.The-CNN-Wire 2887