Category: Minneapolis, Minnesota Local News

Dec 10 : Gemini, the crypto platform founded by billionaire twins Tyler and Cameron Winklevoss, said on Wednesday it had received a license from the Commodity Futures Trading Commission to offer prediction markets to U.S. customers.

Shares of the New York-based company jumped 10.8 per cent in extended trading. The stock has more than halved from its IPO price as of last close.

Gemini joins a growing number of companies venturing into the nascent and burgeoning corner of finance that has exploded in popularity in recent years.

Digital sports firm Fanatics last week announced its entry into the prediction markets, while Robinhood and Susquehanna teamed up in November to take over exchange LedgerX in their push to establish a stronghold in the space.

Prediction markets, which allow investors to bet on everything from major sports tournaments to monetary policy, have gained major traction since a U.S. federal court last year dismissed a CFTC prohibition on election betting.

“Prediction markets have the potential to be as big or bigger than traditional capital markets,” said Gemini President Cameron Winklevoss.

While critics liken prediction markets to gambling, proponents see the asset class as an accurate gauge of market expectations compared to traditional methods.

The approval is also a major boost for Gemini, which has had a rough start as a public company since its New York debut in September.

“Today’s approval marks the culmination of a 5-year licensing process and the beginning of a new chapter for Gemini,” CEO Tyler said, adding the firm had first applied for the license in March 2020.

Gemini customers in the U.S. will be able to participate in prediction markets on the web interface shortly, while trading events contracts through the mobile app will be made available later.

Gemini said it will also explore expanding its derivatives offering for U.S. customers to include crypto futures, options and perpetual contracts down the line.

(Corrects to remove reference to number of subscribers in paragraph 5)

Dec 10 : YouTube said on Wednesday it will roll out new genre-based subscription plans for YouTube TV in the U.S. early next year, underscoring the platform’s growing clout in the American pay-TV market and its push to lock in sports fans.

The new “YouTube TV Plans” will offer more than 10 genre-based packages, including a sports plan featuring broadcasters such as ESPN, FS1 and NBC Sports Network.

Viewers will also be able to add NFL Sunday Ticket and RedZone, while keeping features such as unlimited DVR and multiview, which allows them to watch four live streams on a single screen.

Sports has become a critical battleground for streaming platforms as they seek to attract and retain subscribers and advertisers amid rising competition and cord-cutting.

YouTube TV, which offers more than 100 channels in its main plan, is betting on sports to strengthen its position against rivals as the Google-owned platform deepens its push to boost engagement and attract advertisers.

The company now accounts for the largest share of TV viewing in the U.S., ahead of streaming rival Netflix and traditional media companies such as Disney, according to Nielsen.

The company did not provide any pricing details.

YouTube TV said the move aims to give users more control over their viewing choices, whether they prefer a general entertainment package or one focused on niche genres such as news or family content.

In a separate update, YouTube said it will begin serving ads on Shorts for the mobile web, extending the format beyond its website and will also add comments on eligible Shorts ads.

Dec 10 : Oracle forecast sales and profit that missed analyst estimates on Wednesday, while saying that spending would rise by $15 billion compared with earlier estimates – a sign that big capital outlays to chase AI cloud-computing customers is not turning into profit as fast as Wall Street had expected.

Shares of the Austin, Texas-based company slumped 10 per cent in extended trading.

Oracle has leapt to renewed prominence with grand plans to build AI cloud data centers, and its results are viewed as a sign of whether there is an AI bubble and how it will raise money to build that infrastructure.

Oracle said that adjusted profit for the current fiscal third quarter would be $1.64 to $1.68 per share, below analyst estimates of $1.72 per share, according to LSEG data. Oracle’s third-quarter revenue growth forecast of between 16 per cent and 18 per cent also missed analyst estimates of 19.4 per cent growth to $16.87 billion, according to LSEG data, and Oracle’s entire forecast range of cloud sales growth also missed LSEG estimates of $8.87 billion.  

At the same time, Oracle executives said that capital expenditures for fiscal 2026 are now expected to be $15 billion higher than the $35 billion figure the company estimated in September during its first-quarter earnings call.

“The ramp in capex and unclear debt needs are causing uncertainty among investors,” said Melissa Otto, head of research at S&P Global’s Visible Alpha.

For the just-ended fiscal second quarter, Oracle reported total revenue of $16.06 billion, compared with analysts’ average estimate of $16.21 billion, according to data compiled by LSEG. Adjusted operating income of $6.7 billion also missed Wall Street’s average target of $6.8 billion, according to LSEG data.

“Although Oracle’s shares are buoyed by its September surge, this revenue miss will likely exacerbate concerns among already cautious investors about its OpenAI deal and its aggressive AI spending,” eMarketer analyst Jacob Bourne said in a statement.

Oracle’s closely watched metric for future cloud contracts also missed Wall Street estimates.

Oracle also reported $523 billion in future contracts, up 14.94 per cent from the $455 billion it reported in September, when it revealed a slew of cloud-computing deals with ChatGPT creator OpenAI and others that sent its shares skyrocketing. But the $523 billion figure fell below analyst estimates of $526 billion, according to Visible Alpha data. 

On a conference call with analysts, Chief Executive Officer Clay Magouyrk fielded questions on how Oracle would finance building the data centers needed for its cloud contracts.

“We have some other interesting models that we’ve been working on,” he said. “One of them is that customers can actually bring their own chips, and in those models, Oracle obviously doesn’t have to incur any capital expenditures upfront for that model.”

He added: “Similarly, we have different models that we’re working on with different vendors, where some vendors are actually very interested in a model where they rent their capacity rather than selling that capacity.”

Oracle posted fiscal second-quarter adjusted profit of $2.26 per share, above analyst estimates of $1.64, according to LSEG data. However, Oracle said both adjusted and unadjusted profits were higher on a one-time $2.7 billion pretax gain on selling its stake in chip designer Ampere Computing.

Larry Ellison, Oracle chairman, said the firm chose to sell its shares in Ampere because it plans to have a policy of neutrality about which chips it uses in its data centers and that “we no longer think it is strategic for us to continue designing, manufacturing and using our own chips in our cloud datacenters.”

Ellison said that Oracle would continue to buy Nvidia’s latest chips, but that “we need to be prepared and able to deploy whatever chips our customers want to buy.”

Oracle is building massive data centers for OpenAI, which Reuters has reported is working with Broadcom to develop its own custom AI chip.

Shares of Nvidia and Broadcom were both down less than 1 per cent after Oracle’s results.

WASHINGTON, Dec 10 : Microsoft, Meta, Google and Apple were among the 13 companies that received a warning from a bipartisan group of state attorneys general, according to a letter from the state leaders, who said their chatbots’ “delusional outputs” could be violating state laws.

The letter was made public on Wednesday. In it, dozens of attorneys general said the chatbots “encouraged users’ delusions,” creating mental health risks for kids and adults. They pointed to media reports about a teen confiding in an AI chatbot about his suicide plan. They called on the companies to allow independent audits of their products, adding that state and federal regulators should be able to review them. 

Microsoft and Google declined to comment on the letter. Meta and Apple did not immediately respond to a request from Reuters for comment.  

States are locked in a battle with Washington over AI regulation. The Trump administration is seeking to bar states from passing their own laws governing the technology. Dozens of state attorneys general from both political parties have pushed back, urging congressional leaders to reject the ban. 

SYDNEY, Dec 11 : Westpac non-executive director Peter Nash was reelected to the bank’s board on Thursday, surviving a sizeable investor backlash over his ties to the troubled Australian Securities Exchange.

About 40 per cent of investors voted against his reelection as a board director at the annual meeting of Australia’s second-largest bank by market value, the results lodged with the stock exchange showed.

Nash needed at least 50 per cent support, and the high protest vote was the second he faced in the past month.

About 28 per cent of Mirvac Group investors voted against his reelection at the property developer’s annual meeting on November 20.

At least two influential proxy advisors recommended investors vote against Nash rejoining the Westpac board because until exiting in September, he served as an ASX director for six years during a period of upheaval.

ASX, Australia’s stock exchange operator, is facing increasing regulatory pressure over a string of failures in recent years, including a trading and settlement outage last year.

At Westpac’s annual meeting in Sydney on Thursday, climate protesters gathered outside to protest the bank’s lending to fossil fuel companies.

During the meeting, Westpac CEO Anthony Miller called for stronger action from social media companies such as Meta to curb online scams, saying banks could not tackle the growing threat to consumers on their own.

Miller said Westpac had spent more than A$500 million ($333.55 million) over the past five years on scam and fraud prevention, including new detection tools and customer-protection systems.

“But what’s clear to me is that Westpac, and the other banks, can’t solve the scams scourge alone,” Miller said. “To help keep Australians safe, we need more action from other players in the ecosystem, including social media companies like Meta.”

Meta did not immediately respond to a request for comment.

Miller told the meeting the Australian economy was in a “good position” and previous rate cuts had led to increased consumer spending and confidence levels.

The Reserve Bank of Australia on Tuesday ruled out further policy easing after holding interest rates steady at 3.6 per cent, warning the next move could be up if inflation pressures proved stubborn.

“While risks persist, including lingering inflation and geopolitical uncertainty, there are more opportunities than threats,” Miller said.

($1=A$1.4990)

SAN FRANCISCO, Dec 10 : When the chairman of AI chip startup Rivos wanted Intel to bid for the company, he had no need to phone the chip giant. That’s because the chairman of Rivos was also Intel’s CEO: Lip-Bu Tan.

Tan had pitched Intel’s board on buying Rivos in the summer of 2025, but he had no luck. The board told Tan he had a conflict in representing both Rivos’ interests and Intel’s, and he lacked a strategy on artificial intelligence to justify a deal, three people familiar with the events told Reuters.

Tan asked one of his lieutenants at Intel to pitch a new AI plan, leading to partnership talks with Rivos, the people said. But now there was a problem: social media giant Meta had been stalking Rivos and made an offer for the company.

Meta’s interest spurred Intel to make its own offer. Meta  countered with a sweetened bid. The competition for the startup drove the deal and incentives above the $2 billion valuation that Rivos had sought in fundraising earlier this year. Some of the sources pinned this package at around $4 billion.

Meta announced plans to buy Rivos in September. By then the bidding process had boosted the startup’s returns at Meta’s expense.

Reuters was unable to determine how much the Intel CEO profited personally as a Rivos shareholder because the financials are not public. But in a blog post on its website, Tan’s venture-capital firm, Walden Catalyst, touted how he had delivered a “successful outcome” for its investors and congratulated the Rivos team for their “remarkable achievement.”

The events show one of at least three instances where Intel has pursued deals that benefit Tan financially either by exploring bids for startups or investing in them directly through Intel’s investment arm, Intel Capital, said two of the sources. 

Intel declined to make Tan available for an interview for this story. Meta did not respond to requests for comment, and Rivos declined to comment.

VENTURE CAPITALIST AS CEO

Intel hired Tan in March in part for his experience as a venture capitalist and unparalleled industry connections as a longtime investor in tech companies. Those connections have helped Intel clinch a $5 billion investment from Nvidia and a $2 billion investment from SoftBank.

Since Tan’s arrival, Intel has implemented policies requiring Tan to recuse himself from participating in investment decisions where he might benefit, two sources said. Specifically, Tan cannot attend or vote in decision meetings of Intel’s board or Intel Capital’s investment committee if he has a conflict in a venture or company-wide transaction, the sources said.

Such recusals are commonplace in industry. But they had not been an issue to the same degree at Intel because its leadership prior to Tan had fewer potentially conflicting investments, three of the sources said.

In the event of a Tan recusal for Intel Capital, the first two sources said, decision-making authority for the venture unit’s investment committee goes to Chief Financial Officer David Zinsner, who reports to Tan.

Intel declined to make Zinsner available for an interview.

Intel’s board knew when it appointed Tan that his web of investments in chip and technology companies could create conflicts, but the board accepted this, hoping that Tan can revive the iconic U.S. chipmaker, which lost $19 billion last year, one of the people said.

Intel’s 11 independent board directors did not individually comment on Tan, but in response to Reuters queries, an Intel spokesperson said: “The Board of Directors believes it’s important that Intel fully leverage his vast network and position Intel to capture the next wave of industry innovation and opportunity.”

Tan’s dealmaking comes as the administration of President Donald Trump agreed to make an $8.9 billion investment for what would be the largest ownership stake in the chipmaker, designating it as strategic to the U.S. and effectively making its citizens shareholders.

Some chip-industry analysts have said in research notes that they welcomed Tan’s industry relationships. “He has a wide view across the ecosystem,” said Bernstein analyst Stacy Rasgon in an interview with Reuters. “And that’s helpful for Intel.”

Tan does not perceive his dealmaking at Intel to be conflicted, said two of the sources, who are familiar with his thinking. Tan believes that his roles at these startups and at Intel make him uniquely able to negotiate transactions that benefit all parties, the people said.

In a statement, an Intel spokesperson disputed that Tan’s dealmaking posed any problem. “The company has an unwavering commitment to the highest standards of corporate governance, integrity, and accountability,” the spokesperson said. Tan’s “extensive relationships across the global semiconductor ecosystem are invaluable as Intel positions itself to capitalize on a rapidly evolving industry landscape.”

The Securities and Exchange Commission would not require Intel to disclose related-party transactions that could involve Tan until the spring of 2026, a year after its last disclosure, which took place the week after his start date.

U.S. regulations require such disclosures when transactions personally benefiting corporate officers exceed $120,000, though experts have said smaller dollar amounts can be material to investors if the information would inform a decision to sell or purchase stock.

DEALS TO REVIVE INTEL’S AI STRATEGY

Tan believed Intel needed to buy Rivos because earlier in-house efforts to enter the AI chip market had failed, one of the sources said. In the statement, the Intel spokesperson said Tan was “advancing its AI strategy” and “revitalizing its engineering-centric, customer-first culture.”

Rivos was one of the major targets for Intel where Tan had interests on both sides of the deal. Tan also pitched Intel’s board on buying the troubled AI computing startup SambaNova, where Tan served as executive chairman, the first three sources said.

The rationale – debated inside Intel – was that SambaNova also could provide more tech and talent to build AI chips, the sources said.

SambaNova declined to comment on any talks between the startup and Intel. “While we’re always exploring strategic options, our focus remains on accelerating the roadmap, delivering products to market, and supporting our customers,” a spokesperson said.

Intel also declined to comment on the SambaNova talks.

Tan’s portfolio has drawn scrutiny before. In April, Reuters documented how Tan’s investment firms had stakes in more than 600 Chinese companies, some with military ties, drawing a rebuke by Trump that the U.S. chip manufacturer’s CEO was “highly CONFLICTED.”

According to a White House official, Tan subsequently cleared up Trump’s concerns in an Oval Office meeting, which paved the way for collaboration on U.S. national and economic security. In September, Trump publicly celebrated Intel’s rising share price following Tan’s Nvidia deal.

Intel’s share price has roughly doubled since Tan’s appointment, outpacing the percentage gains of the S&P 500 and chip leader Nvidia in that time. 

TAKING CONTROL OF INTEL CAPITAL

Soon after his appointment as CEO, Tan took direct control of Intel’s investment arm, Intel Capital, reversing a plan to spin it off. Instead, he reorganized the company so that Intel Capital would report to him, according to two of the sources, for reasons Intel has not disclosed. Its investment committee would be composed solely of Tan and one of his direct reports, finance chief Zinsner, said three people familiar with the change.

Since then, Intel Capital has invested in several companies in which Tan has a stake through his investment vehicles or venture capital firms, which include A&E Investment LLC, Celesta Capital and Walden International, three of the sources said. Some Intel staff have felt an obligation to explore such deals to win Tan’s support, two of them said.

One such investment was in proteanTecs, which announced a late-stage, Series D funding round in September. Intel Capital upped its existing stake in the startup, helping increase the value of Tan’s holdings through A&E Investment and Celesta Capital, funding data shows.

ProteanTecs declined to comment. A&E Investment, Walden Catalyst and Walden International did not respond to requests for comment. In a statement, Celesta Capital said Tan “has always acted with integrity and a commitment to doing what is right for all stakeholders.”

Before Tan became CEO, Intel Capital co-invested with him or his investment firms at least 12 times since 2019, funding announcements show.

Intel is not alone in having a venture capital arm. That’s common at large technology companies, including Nvidia, Microsoft, Alphabet and Qualcomm. But unlike those other companies, Intel is unusual in having a CEO who oversees its venture unit while also leading unrelated investment firms, a Reuters review of leadership at those companies shows.

Reuters was unable to determine how much Intel’s recent investments had in total increased Tan’s net worth, estimated to be well over $500 million.

Two corporate governance experts consulted by Reuters said Tan’s dealmaking raises red flags due to the conflicts inherent in forging deals with his own portfolio companies.

One of them also said that Intel could benefit from Tan’s connections. “You don’t want to preclude making good investments because your CEO is well connected,” said Daniel Taylor, a professor at the Wharton School specializing in corporate disclosures and insider trading.

TAN TOUTS HIS BOOK 

   The Intel CEO has consistently highlighted his portfolio in public appearances. In one of his first presentations as the Intel chief in March, he talked up his 251 chip-related investments, an online video from the occasion shows.

At an October chip conference in Phoenix, Tan gave a speech representing Intel that featured slides touting still more holdings, including in proteanTecs and SambaNova.

Intel’s code of conduct encourages executives to disclose potential conflicts to the company’s board and top legal and compliance officers for resolution. “We avoid situations that interfere or appear to interfere with our ability to act in the best interests of Intel,” the code of conduct states. It adds that staff must mind conflicts arising from “an ownership interest in an Intel supplier, customer, or competitor” and from “outside employment that interferes with your obligations to Intel.”

The two corporate governance experts said Tan should have dropped his portfolio investments, placed them in a blind trust or set up a special committee of the board to remove potential conflicts with his investment portfolio. Some lawyers have said special committees are not always necessary, and some scholars argue outside board roles apprise executives of strategic information.

Intel declined to say if Tan had taken any such measure.

The Intel board’s independent Audit Committee “actively monitors, reviews, and approves, as appropriate, any related-party transactions in strict accordance with Intel’s rigorous Related-Party Transactions Policy,” the company spokesperson said.

The policy has exceptions. Transactions in which an Intel executive owns less than 10 per cent of a company that is party to a deal, whose value does not exceed $1 million or 2 per cent of that company’s revenue, are deemed to be “pre-cleared,” the policy states. It was not clear how many investments by Intel, if any, fell under this policy, which pre-dated Tan’s leadership. 

INTEL EXPLORES BID FOR A STRUGGLING STARTUP

In 2018, SambaNova was a startup with lofty ambitions to build an AI computing system that could rival Nvidia’s AI hardware and software ecosystem. Tan’s venture firm Walden International co-led SambaNova’s $56 million Series A funding round that year, which secured Tan’s position on its board. 

Over the years, SambaNova hoovered up money from investors: more from Tan’s venture firm and, around 2021, a big check from SoftBank, where Tan served as a board director until 2022. The $676 million Series D round led by SoftBank valued SambaNova at around $5 billion and gave Tan’s holdings a healthy increase on paper.

SoftBank declined to answer if Tan had a role in persuading it to invest in SambaNova. 

But the startup’s ambitious vision wasn’t panning out, three people familiar with the matter said. Customers had more demand for Nvidia’s chips, which are good for a wide variety of uses in AI. That contrasts with the silicon from SambaNova, which is designed for more specific AI applications.

In 2024, Tan stepped in as SambaNova’s new executive chairman in the hopes that he could help grow its business faster. The company was poised to run out of its cash, three people familiar with the matter said. It laid off 77 people in California, or reportedly about 15 per cent of its staff, in April. 

The chip startup tried to drum up interest for another funding round, but found few takers, two sources said. Its revenue meant it would have to fundraise or go up for sale at a lower valuation, said the people and a third source. Bankers pegged its worth at $2 billion to around $3 billion at most, two of the sources said.

Tan asked Intel to look at a deal with the chipmaker over the summer, three sources said. 

In recent weeks, some of SambaNova’s investors provided additional financing to tide over the startup, two people familiar with the insider round said.  

In a statement to Reuters, a SambaNova spokesperson confirmed the startup recently secured additional funding, adding its business “is performing really well.”

Deal talks with SambaNova are ongoing, two of the sources said. Intel and SambaNova have signed a non-binding term sheet, one of them said.

JACKSONVILLE, N.C. — An officer believed to be one of the longest-serving in the country has retired after 68 years on the force, The Daily News reported.

James “XY” Brown is a U.S. Army World War II veteran. He joined the Jacksonville Police Department in 1971 as a full-time officer after years of volunteering, and served in that role until 1985.

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Since then, Brown has performed house checks for residents on vacation along with other part-time duties, according to the report. The role for which the community knows him best, however, is his longstanding service as a school crossing guard.

“He didn’t just direct traffic, he directed childhood,” Jacksonville Councilman Michael Yaniero, former police chief and director of public safety, told the Daily News. “He greeted the students by name, he noticed when they were having a tough morning, he celebrated their victories, encouraged their dreams and made sure they knew that someone was looking out for them.”

Officials honored Brown’s service at a Dec. 4 ceremony, remembering his love for the students and his scoldings of drivers (known as “timeouts”) who went through his crosswalk too quickly. Brown was unable to attend the ceremony, but viewed it via livestream.

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“It just amazed me how much energy he had,” Yaniero said. “He was there in the mornings, he was there in the afternoons, he did more than just a crossing guard. He was everywhere, he knew everybody in this community, and he is a great American hero.”

Brown’s 68 years of service is remarkable — and it made us wonder: Who else in the nation has served this long?
If your agency has an officer with extraordinary longevity, let us know below.

• This is an amazing testament to a full life of service. I had an exceptional officer that served with me at Ferguson (MO) PD, retired, and then came over to Calverton Park (MO) PD to serve further.
• Sgt. James Anderson with the Pasadena Police Department in Pasadena, Texas, has over 50 years of service with the same department.
• Captain Jerome W. Albritton is starting his 53rd year in law enforcement in 2026. Captain Albritton served with the United States Air Force as a Law Enforcement Specialist, Arlington Texas Police Department, Fort Worth Marshals and presently assigned as Police Commander for The Tarrant County College Police Department in Fort Worth, Texas. Captain Albritton is going on 74 years of age and still going strong!
• You might want to add one more long-serving officer — Bob Holder, a Colorado Wildlife officer who is still serving after 52 years.

The program allows Hazleton Police Department officers to hear 911 call audio and see drone video of an incident scene as they are en route to respond

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No officers were injured by the suspect’s gunfire, but shots that struck their cruisers showed they were “extremely close to getting hit,” Grand Rapids PD Chief Eric Winstrom said

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The man fired multiple shots at Stamford officers inside an armored vehicle; a possible pipe bomb and other explosives were found inside the house

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Kaufman Police Officer Austin Cooley was killed in a head-on crash while returning home from a shift; Cooley also served as deputy chief of South Hunt County Fire Rescue

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Collaboration integrates Android’s emergency live video to 911 with RapidSOS’ AI response platform supporting 600M+ connected devices, 22,000+ public safety agencies

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The US Federal Reserve announced on Wednesday that it was cutting interest rates by a quarter point for the third time this year, as the embattled central bank appeared split over how best to manage the US economy.

The Fed chair, Jerome Powell, has emphasized unity within the Federal Open Market Committee (FOMC), the board of Fed leaders that sets interest rates. But the nine-to-three vote to lower rates to a range of 3.5% to 3.75% was divisive among the committee that tends to vote in unanimity.

The split highlights the overall uncertainty within the Fed as the US economy absorbs major economic shakeups, including tariffs, changes to the labor force from Trump’s immigration crackdown and massive government cuts.

Making matters harder for Fed officials is the lack of comprehensive price and labor market data, the collection of which was halted during the government shutdown. And Trump is weighing his choice for replacing the Fed’s chair.

The latest economic data has shown slight increases to both inflation, which went from 2.3% in April to 3% in September, and unemployment, which went from 4% in January to 4.4% in September.

The dual increases, while relatively small, put the Fed in a tough spot. Keeping rates too high could stall the economy, but bringing rates down too quickly could mean higher inflation.

New projections from officials suggest hesitance to cut rates further next year, a refusal that could further rifts between the Fed and the White House. In a press conference on Wednesday, Powell said the Fed was trying to balance “significant downside risks” in the jobs market with inflationary pressures from Trump’s tariffs that are “pretty clear to see”.

Powell repeatedly said official figures were likely currently overestimating the strength of job creation in the US. He said officials will “need to be careful” in assessing economic data that will be released over the coming weeks on prices and the labor market due to the impact of the government shutdown on data collection.

“Data was not collected in October and half of November, so we are going to get data, but we are going to have to look at it carefully and with a somewhat skeptical eye,” he said.

Earlier in the year, Fed officials said they were waiting to see how Donald Trump’s tariffs would impact prices before making any changes to interest rates, pausing a rate cutting campaign that had started last fall.

For months, Trump and his allies in the White House have publicly attacked Fed officials – typically, US presidents respect the nonpartisan nature of the central bank – for not lowering interest rates. Even with rising inflation, Trump has continued to insist that any price increases are holdovers from Joe Biden’s presidency, despite some corporate leaders saying that their price increases are directly attributed to tariffs.

Next year, Powell’s term as chair will be up in May, leaving room for Trump to nominate his pick for the most influential economic role in the country. Trump has suggested Kevin Hassett, the director of the National Economic Council, could be his nominee, though it is unclear how popular Hassett is among other Republicans.

Hassett told Fox News on Wednesday that Trump will befinalizing his choice within the next few weeks.

Asked about his legacy, Powell said: “My legacy? My thought is that I really want to turn this job over to whoever replaces me with the economy in really good shape.”

The Great Northern will take place January 28 – Februray 1, and this year it will be focused in one central location at St. Anthony Main. The festival grounds stretch from the Riverplace building to Father Hennepin Bluff Park, with satellite events across downtown St. Paul, Nicollet Mall, and East Lake Street. With a new festival pass model for ticketing, attendees will have streamlined access to more experiences including three music stages, chef demos, public art, a giant winter playground, vendor markets and climate conversations.

Passes range from $15-$125. Family Day (Sunday, February 1) is free and open to the community.

*  *  *  Activities and Events  *  *  *

The Cold Open Launch Party | Friday, January 30 | 6PM | The Warming Grounds, 420 SE Main St

Kick off the winter festival with an electrifying outdoor dance party at The Warming Grounds. Groove to the beats of DJ Sophia Eris and DJ Ruca, while experiencing dynamic dance performances choreographed by Hothouse, a premier dance studio in Minneapolis known for its inclusive and expressive movement culture. Enjoy food trucks, warming stations, and a vibrant community atmosphere. This event is free and open to all.

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The Great Northern Sauna Village presented by Superior Sauna & Steam | January 28-February 1 | Hours vary | Riverplace Patio, 1 SE Main St

The iconic Sauna Village returns, with a full schedule of curated sauna experiences including sound bathing, Aufguss, family-friendly sessions, and restorative community steams. Visitors can enjoy self-guided sessions, join expert-led guided experiences, or check out special programming including family-friendly activities and unique wellness offerings. With more than 20 unique mobile saunas to explore, attendees will find endless ways to embrace the restorative power of heat and cold.

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Culinary Demonstrations & Classes | All weekend | Hours & Locations vary

Join Beth Dooley (James Beard Award-winning food writer), Ella Daniels (Mill City Farmers Market), Emily Vikre (Vikre Distillery), chefs from Owamni Restaurant, and more.

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Live Music | Jan 30 – Feb 1 | Hours & locations vary

The Great Northern is excited to present a multi-stage celebration of local sound and talent, featuring some of the region’s most dynamic artists across both indoor venues and outdoor Warming Grounds Stage, co-presented by The Current. Performances include local favorites Porch Light, MMYYKK featuring Omar Abdulkarim, Obi Original and The Black Atlantics, DJ Sophia Eris, DJ Ruca and more.

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Climate Solutions Series | All weekend | Hours & locations vary

Featuring panel discussions, workshops, film screenings and live podcasts, highlights include a keynote by tech expert and thought leader Peter Leyden, a podcast recording of How to Survive the End of the World with Autumn Brown & adrienne maree brown, a discussion with marine biologist Dr. Ayana Elizabeth Johnson on her New York Times bestselling book What If We Get it Right?: Visions of Climate Futures, the premier of The Great Northern’s original documentary short Rooted: Stories from Minnesota’s Farming Future by Liz Tracy, and Water, Land & Relatives, a panel and film screening featuring Dr. Ken Lucero (Trust for Public Land) and Shelley Buck (Owámniyomni Okhódayapi).

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Family Day Presented by Target | Sunday, February 1 | All day | Locations vary

Family Day brings fun for all ages, with hands-on activities, performances, and experiences that celebrate the season. From puppet shows, concerts, winter runs and fat biking to interactive workshops and public art installations, there is something for everyone. 

Article by Becky Fillinger, photos provided

Brim Cafe & Coffee has a wonderful mission – create a space where people can be comfortable and offer food and beverages that are nourishing and craveable. We talked to owner Kate Sidoti about her vision for Brim, local sourcing (check the extensive list!) and expansion to other locations. Make a plan to visit the original Brim at 2919 Knox Avenue S, or in Edina if you’re out in the suburbs.

Q:  What inspired you to open Brim, and how did your vision for it take shape?

A:  Brim was born from a simple desire: to create a space that brings people together over food that makes them feel good – inside and out. I wanted to prove that wholesome, nourishing meals could still be craveable, vibrant, and full of flavor. The vision started with how I’d to cook for my private chef clients and events – fresh, seasonal ingredients, real food made from scratch, and a menu that celebrates balance rather than restriction.

Kate SidotiQ:  How did you choose the name Brim for your business?

A:  The name Brim came from the idea of fullness – not just a full plate, but a full life. It represents abundance, community, and the joy that comes from sharing good food. We wanted a name that felt warm, optimistic, and welcoming – something that invites you to fill your cup, literally and figuratively.

Q:  That’s such a lovely description – how has Brim evolved since it first opened?

A:  When we opened our first location, the goal was to serve wholesome food that didn’t compromise on flavor. Over time, Brim has grown into a community spot – a place where people linger, students study, neighbors connect, and feel at home. We’ve refined our menu, built lasting relationships with local farmers, and expanded into a second location, but the heart of Brim has stayed the same: simple, intentional food made with care.

Q:  Can you talk more about your approach to sourcing ingredients and working with local farms?

A:  We believe good food starts with good ingredients. That’s why we partner with local farmers and producers who share our values around sustainability and quality. We love working and ordering directly with Larry Schultz Farms for our poultry and eggs, Hmong Farmers Association for our vegetables in the summer and Red Lake Nations for our wild rice. The greens in our salads and the herbs in our sauces are from Revol Greens in Medford, Minnesota from their indoor greenhouses year round. Supporting local not only keeps our menu fresh and flavorful but also strengthens the community that supports us.

Q:  What’s your process for developing new dishes or seasonal menu items?

A:  Our menu evolves with the seasons. We start with what’s growing locally, then build around those ingredients with creativity and balance in mind. It’s a collaborative process – our kitchen team tests, tastes, and refines until each dish feels true to Brim: fresh, nourishing, and satisfying. We love finding ways to surprise guests with something new while keeping our core favorites that people come back for.

Q:  What kind of atmosphere or feeling do you want guests to experience when they walk in?

A:  Warm, calm, and connected. We designed our new Edina Brim to feel like greenhouse and a living room – a place where you can slow down, recharge, and enjoy food that fuels you. The natural light, greenery, and earthy tones are intentional; they mirror the kind of food we serve – clean and grounded.

Q:  You mention the new location in Edina – are there other sites you’re reviewing and what have you learned about being a small business owner in Minneapolis?

A:  Expanding to Edina was a big milestone for us, and we’re so grateful for the support that made it possible. Right now, we’re focused on nurturing both locations and staying true to what makes Brim special before we think about what’s next. Being a small business owner in Minneapolis has taught me the power of community – how much people want to see local businesses thrive, and how important it is to stay adaptable and consistent in your values.

Q:  Are there any new projects, collaborations, or menu directions you’re excited about?

A:  Always! We’re exploring more collaborations with local makers – from our own Brim Cafe Coffee and new offerings with collaboration from Heaven Gluten Free Sourdough to wellness pop up events – to create experiences that go beyond the cafe. On the menu side, we’re leaning into even family friendly seasonal dishes and a few exciting brunch additions that highlight our favorite fall and winter ingredients.

Q:  We are all going to want to know more about these fall and winter ingredient menu additions – how may we stay up to date with your news?

A:  Please follow us on Instagram for the latest updates, new menu additions, and collaborations.

Bridge No. 9 was constructed in 1922 by the Northern Pacific Railroad to carry freight over the Mississippi. The City of Minneapolis acquired this bridge in 1986 and converted the bridge to a pedestrian use bridge in 1999. The bridge currently provides a Mississippi River crossing for the Dinkytown Greenway bike trail.

Beginning in April, 2025, the City of Minneapolis started making repairs and improvements to Bridge 9, Abutment 1 and the approach spans on both ends of the bridge

*  *  *  Latest project news  *  *  * 

2025 Construction Phase

Public Works has been working on this bridge in phases over the past few years, starting with the substructure work (piers and abutments).

In 2025, the scope of work will focus on the superstructure, which includes removing and replacing the approach span decks, replacing the existing railing with a high-safety railing and rehabilitating the east side abutment.

Rehabilitation work on the abutment consists of the removal of degraded concrete, then repairing and strengthening the concrete to remain with new reinforced concrete. The work on the approach spans consists of the removal of the old ballast slab, aggregate and bituminous pavement, then constructing a new reinforced concrete deck.

Installing the block retaining wall on the southern approach

Bridge identification plate in the new pilaster on the north end of the bridge

The abutment work takes place within Bridge 9 right of way through University of Minnesota property. It is occurring adjacent to the U of M Main Energy Plant. Access and staging for the work were closely coordinated with University officials.

Southern approach spans, with light standards being reinstalled

Schedule

Construction activities this season started on April 7, 2025. The scheduled completion date is now January 2026. The Bridge is expected to be open January 8th, 2026, unless there are substantial disruptions due to weather over the next month.

Traffic Impact

The bridge is closed to bicyclists and pedestrians this season. The Detour route is below, and it is also posted to the project webpage.

Current Work

November saw the current phase of the Bridge 9 project near completion. The following construction operations were performed: installation of the block retaining wall on the south end of the bridge, application of surface finish to some bridge elements, paving the disturbed trail on both ends of the bridge, and restoration of material disturbed by construction.

The new railing for the bridge was not ready for delivery to the project site until the end of November. The final railing delivery should occur by mid-December.

Paving at Abutment 1

Coming Up

Bridge railing is being delivered to site and installation is set to begin. The bridge will reopen to people walking and biking shortly after the final portion of the railing is installed. Current expectations are that the bridge will be open by January 8, 2026.

Stay Connected

For more details and to sign up for email updates please visit the project page. 

 For concerns or questions about the Bridge 9 project please contact:

Contact the project engineer: Oscar Weber,
651-470-4790 or Oscar.Weber@minneapolismn.gov 

Contact the engineer: Petru Vizoli,
612-201-1905, or Petru.Vizoli@minneapolismn.gov.

Contact the design team project manager: Rich Revering,
612-718-8412 or Richard.Revering@Bolton-Menk.com

In this next Spotlight Series concert of the MacPhail Presents season, piano faculty Richard Tostenson details a story of friendship, refuge, and resistance.

Featuring Weinberg’s Piano Sonata No. 4 and a powerful piano transcription of Shostakovich’s String Quartet No. 8, this program illuminates voices that refused to be extinguished in the shadow of fear and censorship.

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Article by Becky Fillinger, photos provided

Hotel Ivy has opened two new niche experiences – Bar Edera and Thor Cigar Lounge. We spoke to Mark Maggiotto, General Manager of Hotel Ivy, to learn more about these two cozy spots at 201 S 11th Street that offer downtown visitors a break during a busy day – or evening.

Q:  Let’s first talk about Thor Cigar Lounge. What inspired its creation, and how does it stand apart from other cigar lounges in Minneapolis? 

A:  Our vision was to create an elevated outdoor cigar lounge featuring a unique and high-quality cigar program paired with handcrafted cocktails and New American dishes from Bar Edera. We wanted to introduce a concept unique to the area, and create a comfortable gathering space to attract locals and hotel guests. 

Q:  How do you curate your cigar offerings? Do you feature local or rare cigars alongside well-known brands?  

A:  Our cigar offerings align closely with the vision. We offer introductory selections made specifically for us, traditional favorites, the most popular current cigars, and a special selection of rare and hard to find cigars. This range provides options for guests new to cigars along with aficionados. 

Mark Maggiotto                      Photo Credit: The Minneapolis / St Paul Business

Q:  What role does your Bar Edera drink menu plays in the cigar experience? Do you craft cocktails or source spirits specifically to complement your cigars?  

A:  The beverage program offers a range of bourbon- and scotch-based drinks that historically pair wonderfully with cigars, as well as multiple rum drinks that are traditional beverage partners. Bar Edera also offers a thoughtful assortment of wines by the glass and a range of imported, domestic, and local craft brews so there are options for all palettes. 

Q:  Will you host special events, tastings, or educational sessions to engage the cigar community? 

A:  Yes, at our launch event we brought in an expert in cigar rolling to provide demonstrations to attendees, part of a team that is certified in cigar rolling by the country of the Dominican Republic. We also provided complimentary tastings of two cocktails that pair well with cigars. We look forward to scheduling more events like this in the future to educate and entertain the community. 

Q:  Have you noticed shifts in what customers are looking for in cigars or cigar culture over the past few years? 

A:  Yes, tastes have evolved a great deal in the past few years. We are seeing fuller body cigars becoming more popular. Examples are the Fat Bottom Belly and Crazy Alice by Deadwood. Classics are also returning in popularity, including Davidoff selections and Cohiba collections. My Father: The Judge was named the 2024 cigar of the year by Cigar Aficionado, and it offers a full body, and is very complex. These cigars and many others across a range of price points are available at Thor Cigar Lounge.

Q:  Are there any expansions, collaborations, or new offerings on the horizon for Thor Cigar Lounge? What about perks for recurring customers? 

A:  Having just opened, we look forward to customer ideas on how we can partner, innovate, and expand the offerings and experiences at our outdoor cigar lounge. Perhaps your readers can make suggestions! Looking further out, we have discussed single edition offerings made available to members and regulars, as well as bringing in celebrity cigar makers, and providing cigar etiquette and master class tastings. 

Q:  Let’s now shift to Bar Edera – what’s the inspiration behind the concept and menu?

A:  Bar Edera evokes the all-day bar culture of European bistros and cafes. The menu features New American dishes, classic craft cocktails with fresh and intriguing twists, a thoughtful wine selection and various imports, domestics, and local craft brews.

Q:  How does the bar’s identity connect to the overall style of the Hotel Ivy?

A:  Bar Edera functions as a social hub for hotel guests and locals, and enlivens the atmosphere at Hotel Ivy. Bar Edera is where you can enjoy a pre-arrival cocktail, gather before your night on the town, enjoy a final drink and conversation at the end of the night, or start your day with a freshly made Espresso and breakfast. 

Q:  The name “Edera” means “ivy” in Italian — how does that influence your brand or atmosphere?

A:  The name comes from our desire to honor and emulate the all-day bar culture of European bistros and cafes. The idea of a space evolving throughout the day to meet the changing needs of the guest or customer really appeals to us, and has been a great addition to our hotel since opening this past summer.

Q:  How do you describe the Bar Edera cocktail program — is there a signature style or ingredient focus?

A:  The cocktail program is refined, yet approachable. It’s a collection of classic and contemporary drinks, crafted to appeal to all guests. We focus on quality spirits, thoughtful garnishes and quality preparations. 

Q:  Do you have any standout drinks or dishes that have become guest favorites?

A:  One of our most popular dishes is our Suya Honey Wings. Confit and fried chicken wings tossed in a Nigerian-inspired suya spice and honey sauce and topped with crushed peanuts.

The Martini My Way is our customizable martini that ensures that no matter what corner of the world you’re from, your cocktail will be prepared to your liking. Lots of options, made to order.

Our Espresso Martini is a rich, bittersweet, and visually striking cocktail that delivers a perfect blend of a caffeine jolt and a spirited kick.

The Hibiscus Margarita is a vibrant, floral twist on the classic tequila cocktail, offering a gorgeous color and unique flavor profile.

The Strawberry Spritz is the quintessential light, bright, and effervescent summer cocktail, taking the classic Italian spritz formula and infusing it with the sweet, ripe flavor of fresh strawberries.

The menu is reworked a few times a year to reflect the changing seasons. We love highlighting local produce and suppliers whenever possible, so we expect that new customer favorites will emerge.

Q:  Are there any Minnesota or Midwest ingredients you like to showcase?

A:  Our guests really enjoy our Walleye Po’ Boy on Baguette, which features crispy local walleye filet, escabeche, tomato, pickles, and a chipotle aioli. 

Q:  How may we follow the news of everything happening at Hotel Ivy? 

A:  The social channels and websites are the best and most current ways of staying up to date with our news.