DIRS.INFO The most relevant business & tech news

New Labour Party MP for Blackpool South, Chris Webb (C) reacts as his win is announced at the count centre in Blackpool, north-west England on May 3, 2024, during the Blackpool South by-election. The opposition Labour Party won a Blackpool South by-election, taking the seat from the Conservatives. The Reform UK party, founded by Brexit proponent Nigel Farage, came in third. Labour leader Keir Starmer posted on the social media platform X that the "swing towards Labour in Blackpool South is historic." Angela Richardson, deputy chair of the Conservative Party, told the BBC the result "was not unexpected," especially given the circumstances that sparked the by-election.

Persons: Chris Webb, Rishi Sunak's, David Jones, Nigel Farage, Scott Benton's, Keir Starmer, Angela Richardson Organizations: New Labour Party, Blackpool South, Blackpool, LONDON, Rishi Sunak's Conservative Party, Labour Party, Conservatives, New Labour, Conservative, Reform UK, Labour, Conservative Party Locations: Blackpool, England, Britain

☆ The way AI will be sold to a skeptical public is starting to become clear
▼ + stars: | 2024-02-13 | by ( Michelle Castillo | ) www.cnbc.com time to read: +5 min

Many AI companies struggle with customers understanding how the product won't take away their ability to think for themselves. A few took the opportunity of the Super Bowl to change the narrative. There many winners and losers among the messages attempted by brands in the big Super Bowl advertising bets. In Microsoft's Super Bowl ad, a group of people overcome challenges ranging from opening their own business to getting a college degree. There's no bigger stage to get your humanizing message across than the Super Bowl, Microsoft's Kumar said.

Persons: GPT, Deacon Webster, Webster, It's, it's, Divya Kumar, Etsy, Crowdstrike, cyberattacks, Gaurav Misra, Misra, Microsoft's Kumar, David Jones, Jones Organizations: Research, Sunday, Microsoft, Google, New York Times, Super, Brandtech, America Locations: France

☆ It’s not just Taylor Swift: AI-generated porn is targeting women and kids all over the world
▼ + stars: | 2024-01-26 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +8 min

It affects everybody.”But while the practice isn’t new, Swift being targeted could bring more attention to the growing issues around AI-generated imagery. Her enormous contingent of loyal “Swifties” expressed their outrage on social media this week, bringing the issue to the forefront. … It’s a reckoning moment.”‘Nefarious reasons without enough guardrails’The fake images of Taylor Swift predominantly spread on social media site X, previously known as Twitter. Although it reportedly took 17 hours for X to take down the photos, many manipulated images remain posted on social media sites. Other social media companies also have reduced their content moderations teams.

Persons: megastar Taylor Swift, “ It’s, ”, Danielle Citron, “, We’ve, Swift, “ Swifties ”, Taylor Swift, ” Citron, …, there’s, Ben Decker, Decker, Karine Jean, Pierre, Francesca Mani, Raymond González, Anita ”, David Jones, Jones, Betsy Kline Organizations: CNN, University of Virginia School of Law, Ticketmaster, Twitter, Meta, White, Westfield High School, Westfield, Communications Locations: New Jersey, Spain, unmoderated

NEW ORLEANS (AP) — Sion James scored a season-high 22 points, and Tulane held off 10th-ranked Memphis 81-79 on Sunday to hand the Tigers their second straight loss. James hit a pivotal corner 3 that put Tulane (12-6, 3-3 American Athletic Conference) up 77-75 with 2:22 left. Kevin Cross added 21 points for Tulane, which nearly beat another ranked team 10 days earlier, when the Wave fell 85-84 to No. Tulane: It was signature victory for the Green Wave, which had lost 53 straight against AP Top 25 opponents since a 72-63 win over then-No. James' career high of 30 points also came against Memphis on Jan. 1, 2023.

Persons: — Sion James, James, Collin Holloway, David Jones, James ', Kevin Cross, Malcolm Dandridge, Holloway, —, Jones, He's, Dedric Lawson, Kendric Davis, DeAndre Williams, ___ Organizations: ORLEANS, Tulane, Memphis, Tigers, American Athletic Conference, Florida Atlantic, The Tigers, Green, AP, North Carolina State, UAB, UTSA Locations: Florida, Memphis, South Florida

Kasean Pryor made a go-ahead free throw with 4 seconds left, and South Florida rallied from a 20-point deficit to stun the Tigers 74-73 on Thursday night. Pryor finished with 21 points and 10 rebounds, and reserve Selton Miguel led USF with 23 points, going 5 of 10 from 3-point range. David Jones led Memphis with 25 points and Quinerly finished with 15. Jones had 18 points in the first half — including a run of 11 straight — for Memphis, which led 47-32 at the break. BIG PICTURESouth Florida: The Bulls, who improved to 1-3 on the road this season, upped their intensity in the second half and didn't panic when Memphis took its big lead.

Persons: Kasean Pryor, Pryor, Selton Miguel, hadn't, Penny Hardaway, Amir Abdur, Rahim, “ It’s, ” Abdur, “, Nae’Qwan Tomlin, Quinerly, Tulsa —, Tomlin, ”, David Jones, Chris Youngblood, Kobe Knox, Brandon Stroud, Jayden Reid, Jones, ” Hardaway, “ We're, they've, ___ Organizations: —, Memphis, Tigers, USF, Bulls, American Athletic Conference, Mississippi, Louisville, Georgetown, University of South, SMU, Tulsa, Pryor, “, Wichita State, Tulane, AP Locations: MEMPHIS, Tenn, South Florida, Memphis, University of South Florida, Florida

☆ British tax cut spells trouble in store for next government
▼ + stars: | 2023-11-22 | by ( William Schomberg | ) www.reuters.com time to read: +4 min

UK Parliament/Jessica Taylor/Handout via REUTERS Acquire Licensing RightsLONDON, Nov 22 (Reuters) - British finance minister Jeremy Hunt's big tax cut surprise could help the ruling Conservatives recover some favour among voters, but it threatens to store up budget problems for whichever party wins power after the expected 2024 election. Combined with his decision to make permanent the incentives for business investment announced earlier this year, Hunt's package of tax cuts would be worth about 20 billion pounds ($25 billion)a year by the 2028/29 tax year. "The giveaways announced today are funded by handing whoever wins the next election implausibly large spending cuts," Torsten Bell, chief executive of the Resolution Foundation, said. Hunt is likely to remain under pressure from within his party to go further with more tax cuts in a final pre-election budget statement expected in March. "There's a material risk that those plans prove undeliverable and today's tax cuts will not prove to be sustainable," Johnson said.

Persons: Jeremy Hunt, Jessica Taylor, Handout, Jeremy Hunt's, Hunt, Liz, Rishi Sunak, Labour Party's, Rachel Reeves, Torsten Bell, Investec, David Jones, Paul Johnson, Johnson, William Schomberg, Elizabeth Piper, Alexander Smith Organizations: REUTERS Acquire, Wednesday, Labour, Conservative, Bank of England, Institute for Fiscal Studies, Thomson Locations: London, Britain, British

☆ Exclusive: Law firm tied to bankruptcy judge resignation did not make conflict disclosures -data analysis
▼ + stars: | 2023-10-30 | by ( Tom Hals | Thomson Reuters | Tom Hals Is An Award-Winning Reporter With Years Of Experience Working In Asia | ) www.reuters.com time to read: +8 min

Freeman also worked as a contract lawyer for Jackson Walker after leaving the firm. Jones and Jackson Walker signed off on the arrangement without disclosing the relationship, court papers show. Until then he was the busiest bankruptcy judge in the United States, overseeing the dissolution or restructuring of corporate titans ranging from Neiman Marcus to J.C. Penney. Bankruptcy judges often serve as mediators in complex cases that are being run by other judges. In the GWG bankruptcy, Jackson Walker on Nov. 30 asked the judge overseeing the case to appoint Jones as mediator.

Persons: David Jones, Jones, Jackson Walker, Elizabeth Freeman, Freeman, Neiman Marcus, J.C, Tom Kirkendall, Jackson, Debtwire, Tehum, Bruce Markell, Tom Hals, Dietrich Knauth, Alexia Garamfalvi, Amy Stevens, Grant McCool Organizations: Reuters, REUTERS, Staff, McDermott International, Houston, GWG Holdings, Wall Street, U.S, Circuit, Appeals, U.S . Department of, Tehum Care Services, Corizon, U.S ., Thomson Locations: Houston , Texas, U.S, WILMINGTON , Delaware, Texas, Houston, United States, Penney, GWG, Wilmington , Delaware, New York

☆ 6 troubling questions about the Corizon bankruptcy deal
▼ + stars: | 2023-10-26 | by ( Dakin Campbell | Nicole Einbinder | ) www.businessinsider.com time to read: +20 min

The bankruptcy of prison health provider Corizon has faced pressure from senators and a federal regulator in recent weeks. Other troubling questions surrounding the bankruptcy involve payments to insiders, "dishonest" testimony, and a secret data breach. The other company, Tehum, was saddled with most of Corizon's liabilities and, in February, filed for bankruptcy. AdvertisementAdvertisementNine US senators have written to Corizon successor companies Tehum Care Services and YesCare demanding answers about Corizon's efforts to "manipulate bankruptcy law." AdvertisementAdvertisementLefkowitz repeatedly said under oath during a June creditor call that he didn't know who owned Geneva Consulting — the company Corizon paid $5.5 million.

Persons: Corizon, —, Christopher Lopez, David Jones, Elizabeth Freeman, YesCare, Jones, Tehum, Judge Jones, Freeman, Ian Cross, Elizabeth Warren, Bernie Sanders, Cory Booker, Dick Durbin, Lopez, they're, Kevin Eckhardt, Hector Garcia Jr, Hector Garcia, Belen Lowery, Garcia's, Jeff Sholey, Isaac Lefkowitz, Lefkowitz, Sara Tirschwell, Jeffrey Scott King, Ayodeji, Michelle Rice, Jennifer Finger, Sholey, Edward Janger, Janger, he's, didn't, Geneva, Russell Perry, Baker, Hostetler, Tehum's, Tracey Grissom, Grissom, Julia Tutwiler, Roman, Sannikov, CISA, Tehum hadn't, What's, it's Organizations: Service, Tehum Care Services, Justice Department, Corizon, Arizona Department of Corrections, Rehabilitation, Geneva Consulting, Tehum, University of Missouri Health Care, Brooklyn Law School, Geneva, Genesis Healthcare, Department, US, Court, Southern, Southern District of, Baker, FBI, Infrastructure Security Agency, of Health, Human, CISA, HHS, HIPAA, Women Locations: Houston, Texas, YesCare, Reorg, New Mexico, Corizon, Geneva, Southern District, Southern District of Texas, Alabama, Wetumpka , Alabama, Rivers, bitcoin, Tehum

☆ Powerful senators fire off letter decrying 'abusive' tactics in Corizon bankruptcy
▼ + stars: | 2023-10-25 | by ( Dakin Campbell | Nicole Einbinder | ) www.businessinsider.com time to read: +10 min

Nine US senators including Elizabeth Warren, Dick Durbin, and Bernie Sanders have sent a letter to Corizon leaders demanding answers on its bankruptcy. The letter says Corizon has sought "to manipulate bankruptcy law" and calls the strategy "abusive." Citing Insider's reporting, the senators gave Corizon two weeks to turn over details about its use of the Texas Two-Step to shield assets from creditors. AdvertisementAdvertisementA powerful group of senators have pressed for answers about the bankruptcy of the private prison healthcare provider formerly known as Corizon Health. "The Texas Two-Step is a distorted use of the U.S. bankruptcy system by corporations to evade mass tort liability," the senators write.

Persons: Elizabeth Warren, Dick Durbin, Bernie Sanders, Corizon, —, Cory Booker, Ron Wyden, Tehum, Jeffrey Sholey, Isaac Lefkowitz, Tehum's, Sholey, Lefkowitz, Sen, Warren, YesCare, Hector Garcia, Adria Malcom, excoriate Corizon, Hector Garcia Jr, David Jones, Jones, Christopher Lopez, Durbin, Johnson, Sanders, Booker, Wyden, Democratic Sens, Richard Blumenthal, Mazie, Jeff Merkley, Peter Welch of Organizations: Service, Tehum Care, Finance, Corizon, Detention, Genesis Healthcare, Geneva Consulting, Genesis, Geneva Consulting —, Genesis HealthCare Inc, US, Texas, Committee, Democratic Locations: Texas, Ana, Las Cruces , New Mexico, New Mexico, Alabama, Richard Blumenthal of Connecticut, Hawaii, Oregon, Peter Welch of Vermont

☆ Federal judge hits the brakes on Corizon bankruptcy deal
▼ + stars: | 2023-10-18 | by ( Dakin Campbell | Nicole Einbinder | ) www.businessinsider.com time to read: +7 min

A Texas judge has slowed down a bankruptcy deal involving Tehum, formerly Corizon, a leading prison health provider. The judge on the case, Christopher Lopez, raised other concerns, saying "the fundamental deal has to be reconsidered." A federal judge has declined to consider expedited approval of the plan's disclosures, saying far too many questions remained unanswered. "We're not going forward today," Judge Christopher Lopez said at a hearing on Tuesday in the Southern District of Texas bankruptcy court in Houston. The settlement deal would resolve hundreds of the malpractice suits for just $5,000 each — even those from families suing on behalf of loved ones who they say died due to Corizon's neglect.

Persons: David Jones, Christopher Lopez, —, We're, Sen, Elizabeth Warren, Corizon, Lopez, it's, I've, Jason S, Lopez's, Jones, Elizabeth Freeman, Freeman, Ha Nguyen, Hector Garcia, Hector Garcia Jr Organizations: Tehum, US, Service, Southern District of, Houston, Justice Department Locations: Texas, Southern District, Southern District of Texas, Houston, YesCare, Corizon, New Mexico

☆ Houston Bankruptcy Judge David Jones Resigns Under Misconduct Investigation
▼ + stars: | 2023-10-15 | by ( Alexander Gladstone | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/houston-bankruptcy-judge-jones-resigns-under-misconduct-investigation-7784fe8c

Persons: Dow Jones Locations: houston

U.S. Bankruptcy Judge David Jones, who oversees more major Chapter 11 cases than any other U.S. judge, is seen in a screenshot from video shot during a virtual interview with Reuters done from Houston, Texas, U.S. December 11, 2020. Jones had already stepped back from overseeing large bankruptcy cases and began reassigning them to two other judges on the court. Until December 2022, Freeman had been a partner at Jackson Walker, a local law firm that filed many cases in Jones' Houston courthouse. Ethics experts have said the undisclosed relationship casts doubt on the integrity of Jones' court. "From the time we first learned of this allegation Ms. Freeman was instructed not to work or bill on any cases before Judge Jones.

Persons: David Jones, Randy Crane, Jones, Elizabeth Freeman, Freeman, Jackson Walker, Judge Jones, Shubhendu Deshmukh, Bill Berkrot, Alexia Garamfalvi Organizations: Reuters, REUTERS, Staff, U.S . Chief U.S, District, Southern, Southern District of Texas, Circuit, McDermott International, Tehum Care Services, U.S . Trustee, Department of, Thomson Locations: Houston , Texas, U.S, Houston, Southern District, New Orleans, Jones ' Houston, Debtwire, Bengaluru

☆ Top US bankruptcy judge resigns following revelation of undisclosed romantic relationship
▼ + stars: | 2023-10-15 | by ( Nicole Einbinder | Dakin Campbell | ) www.businessinsider.com time to read: +4 min

Insider recently revealed that prominent bankruptcy judge David Jones was in a romantic relationship with a bankruptcy attorney. Both Jones and the attorney had involvement with the bankruptcy case of the prison healthcare company Corizon. Jones oversaw the settlement talks in Tehum's bankruptcy; Freeman represented YesCare — and signed off on Jones' appointment as mediator in May. "Judge Jones did not disclose his relationship with Ms. Freeman to the parties, to their counsel or to the bankruptcy judge who appointed Judge Jones," the misconduct complaint says. Already, the disclosure of Jones' relationship has encouraged the US Trustee to intervene.

Persons: David Jones, Jones, —, –, Elizabeth Freeman, Jackson Walker, Freeman, Corizon, Tehum, YesCare —, Michael Van Deelen, Priscilla Richman, Richman, Judge Jones, Christopher Lopez, " Jones Organizations: Fifth, Service, Southern, Southern District of Texas, Corizon Health, Tehum Care Services, Wall Street Journal, Appeals, Circuit, Fifth Circuit, Bloomberg Locations: Southern District, Texas, Corizon, Tehum's

☆ Prominent bankruptcy judge David Jones recused from cases, under investigation after exposure of undisclosed romantic relationship
▼ + stars: | 2023-10-13 | by ( Nicole Einbinder | Dakin Campbell | Esther Kaplan | ) www.businessinsider.com time to read: +7 min

Last week, Insider revealed that prominent bankruptcy judge David Jones was in a romantic relationship with a bankruptcy attorney. The Office of the US Trustee, the bankruptcy regulator, has filed an objection in the Corizon bankruptcy case, citing Jones' "admissions." The Office of the US Trustee intervenesToday the Office of the US Trustee, the federal regulator that oversees bankruptcy cases, took the unusual step of intervening in the bankruptcy case. AdvertisementAdvertisementThe office filed multiple objections to the proposed settlement plan overseen by Judge Jones, including concerns about Jones' role as mediator. The bankruptcy plan breaks creditors down into several classes.

Persons: David Jones, Jones, —, Elizabeth Freeman, Freeman, Corizon, Tehum, Michael Van Deelen, didn't, he'd, Harris, Marvin Isgur, Christopher Lopez, Lopez, Judge Jones, Hector Garcia Jr, Hector Garcia, they're, Lila Hassan Organizations: Fifth Circuit, Service, Southern, Southern District of, Court, Fifth, Tehum Care, Wall Street Journal, Houston, Corizon Locations: Southern District, Southern District of Texas, Texas, YesCare, New Mexico

☆ Lawsuit alleges undisclosed relationship involving federal judge that could cloud Corizon bankruptcy deal
▼ + stars: | 2023-10-06 | by ( Dakin Campbell | Nicole Einbinder | ) www.businessinsider.com time to read: +7 min

A civil complaint alleges that federal bankruptcy judge David Jones, who mediated the Tehum bankruptcy, is in a romantic relationship with Elizabeth Freeman, who represented YesCare in the bankruptcy. Van Deelen's case was ultimately "removed" to Jones' bankruptcy court, according to Van Deelen's complaint. The document alleges that, while working the McDermott case, Freeman was Jones' "live-in girlfriend" in a home worth more than a million dollars. According to the complaint, the letter detailed the "corruption involving Judge David R. Jones" and his romantic relationship with Freeman. Judge Marvin Isgur, another bankruptcy judge in the court, later denied it.

Persons: Tehum, —, Corizon, David Jones, Elizabeth Freeman, Isaac Lefkowitz, Freeman, Jones, Michael Van Deelen, Christopher Lopez, Van Deelen's, Michael Van Deelen Frank Ozment, Tracy Grissom, Ozment, YesCare, Deelen's, McDermott, Van Deelen, Jackson Walker, Liz Freeman, Defendant Jones, Matt Cavenaugh, didn't, David R, Marvin Isgur Organizations: Service, Southern, Southern District of, YesCare Corp, US, McDermott International Locations: Texas, YesCare, Tehum, Southern District, Southern District of Texas, Alabama, Houston, Coldspring

CNN —Millions of American homeowners could see insurance rates surge in the coming years in part due to worsening climate disasters, new data shows. It’s another alarming sign for the future of America’s homeowners’ insurance market. “We’re still kind of at the forefront of the insurance industry pricing in climate risk into the real estate market,” Porter told CNN. Premiums are at risk of surging to a lesser extent in cities across the country, First Street data shows. “I know where the places are where people are dropping their insurance — it’s Florida, Louisiana, California and Colorado,” Bach told CNN.

Persons: ”, David Jones, Jeremy Porter, “, ” Porter, Hurricane Ian, Matias J, Jones, ” Jones, Amy Bach, Bach, ” Bach, Kyle Grillot, Reuters Jones, Porter, ‘ I’m, it’s Organizations: CNN, Foundation, UC Berkeley’s Center for Law, Energy, Hurricane, Miami Herald, Tribune, Service, Los, National Flood Insurance, FEMA, United, Residents, Reuters Locations: California , Florida, Louisiana, California, Matlacha , Florida, Florida, Texas, Vermont, Montpelier . Kentucky, West Virginia, Miami, Jacksonville, New Orleans, East Coast, Atlantic City , New Jersey, Virginia Beach, Norfolk , Virginia, Wilmington , North Carolina, Charleston , South Carolina, Savannah , Georgia, New York City, Phoenix, Chicago , Pittsburgh, Louisville, Cincinnati, West Coast, Riverside , California, Los Angeles, Gulf Coast, Plaquemines Parish , Louisiana, Collier County , Florida, Colorado, Wrightwood , California

☆ Diamond Sports calls in mediators as it pushes toward a reorganization plan
▼ + stars: | 2023-08-17 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

On Thursday, a bankruptcy judge approved Diamond's request to bring in mediators as it is negotiates with creditors to reach a reorganization plan. Two judges from the U.S. Bankruptcy Court in the Southern District of Texas — Judges David Jones and Marvin Isgur — will preside as mediators. Last week, Diamond won court approval to extend the period of time it has to come up with a reorganization plan. Diamond has until Sept. 30 to file a reorganization plan, weeks ahead of the opening of the 2023-24 NBA and NHL seasons. Besides shedding its hefty debt load, Diamond is looking to reset some of its rights deals with teams to reflect so-called market rates.

Persons: Christopher Lopez, David Jones, Marvin Isgur —, Diamond Organizations: Ohio, Bally Sports, Cincinnati Reds, Cleveland Guardians, Progressive, Diamond Sports Group, NBA, NHL, U.S, Bankruptcy, Southern District of Texas, Diamond, Nexstar Media Group, Gray Television, Scripps Co, CNBC, Phoenix Suns Locations: Cleveland, America, Southern District

[1/2] Ford Super Duty trucks are seen at the Kentucky Truck assembly plant in Louisville, Kentucky, U.S., April 27, 2023. REUTERS/Joseph WhiteLOUISVILLE, Kentucky, May 1 (Reuters) - Shutting down the assembly lines that build Super Duty pickup trucks at Ford Motor Co's (F.N) Kentucky Truck Plant is a multimillion-dollar action company managers try hard to avoid. As part of a new approach to stamping out quality demons, Kentucky Truck Plant manager Joseph Closurdo said he stopped production for as long as three days earlier this year. Slashing the tax that quality problems levy on Ford's profitability has become Job One for Chief Executive Jim Farley. We did not start shipping until we saw consistent delivery on those targets," Super Duty Chief Engineer Andrew Kernahan told Reuters.

☆ Revlon reaches lender settlement, sends bankruptcy plan to vote
▼ + stars: | 2023-02-21 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

Jones said Revlon could now send its restructuring proposal to creditors for a vote, a key milestone in the company's bankruptcy case. Tuesday's deal does not change the terms of earlier settlements that Revlon reached with its senior lenders and junior creditors. The senior lenders will receive most of the company's equity, valued at $2.75 billion to $3.25 billion. Revlon is majority-owned by Ron Perelman's MacAndrew & Forbes, which held 85% of the company's shares at the time of its bankruptcy filing. The company's stock saw a surge in interest from retail investors last year, trading above $8 per share early in the company's bankruptcy.

☆ 8 best flat irons to shop in 2022, according to experts
▼ + stars: | 2022-12-13 | by ( Mili Godio | Mili Godio Is An Associate Reporter For Select On Nbc News. | ) www.nbcnews.com time to read: +13 min

We also gathered their recommendations for the best flat irons to shop. Ceramic vs. tourmaline vs. titanium flat ironsThe three most common flat iron plates are ceramic, tourmaline and titanium. When the metal beneath — usually aluminum — is exposed, it can cause damage to your hair, according to Bertin. Best flat irons to shop in 2022We consulted experts about what to look for when shopping for a good flat iron and highlighted their recommendations below with varying plate types and sizes for different hair types and textures. Our experts agreed that flat irons should equip a button or knob that easily displays the temperature you’re using, rather than limited settings.

☆ Australia sues AmEx on alleged breach of credit card distribution laws
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

Dec 6 (Reuters) - The Australian securities regulator on Tuesday took the local unit of American Express Co (AmEx) (AXP.N) to court alleging two of its credit cards co-branded with retailer David Jones were issued and distributed without ensuring customers understood them. The Australian Securities & Investments Commission(ASIC) alleged in a lawsuit that AmEx knew some customers would be confused whether they had applied for a loyalty card or a credit card, and that it failed to limit distribution to customers looking for a card that earns points and other benefits. The card payment service provider was aware of the high cancellation rates among customers who apply for credit cards at David Jones outlets, compared with their online counterparts, ASIC said in a statement. AmEx and South Africa's Woolworths Holdings (WHLJ.J), which owns the department store chain, did not immediately respond to Reuters' request for comment. Reporting by Sameer Manekar and Himanshi Akhand in Bengaluru; Editing by Shounak Dasgupta, Uttaresh.V and Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ Australian regulator sues AmEx for alleged breaches of distribution obligations
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +1 min

Dec 6 (Reuters) - Australian corporate regulator on Tuesday filed a civil lawsuit against American Express Co's (AmEx) (AXP.N) Australian arm, seeking declarations and pecuniary penalties for alleged breaches of design and distribution obligations. The Australian Securities & Investments Commission (ASIC) said the lawsuit was related to two co-branded credit cards issued by AmEx to retail consumers in David Jones stores, owned by South Africa's Woolworths Holdings Ltd (WHLJ.J). ASIC added that AmEx continued to issue the cards despite being aware of the deficiencies in TMD, risking customers with a financial product that was not in line with their needs. AmEx and Woolworths Holdings did not immediately respond to a Reuters' request for comment. Reporting by Himanshi Akhand in Bengaluru; Editing by Shounak Dasgupta and Uttaresh.VOur Standards: The Thomson Reuters Trust Principles.

☆ Bankrupt Revlon says it is entertaining sale offers
▼ + stars: | 2022-10-27 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

Revlon is exploring a possible sale of the company and has begun sending nondisclosure agreements to interested bidders, Basta said. Revlon junior creditors argued in court that rushing toward a sale before the 2022 holiday season would only benefit senior lenders who forced the company to accept unrealistic deadlines as part of Revlon's $1.4 billion bankruptcy loan. Basta said that exiting bankruptcy quickly is "of paramount importance" because of the high fees the company is incurring. Junior creditors intend to file a legal challenge on Monday a 2020 restructuring that allowed Revlon to take on more debt while transferring its brands and intellectual property assets to a different Revlon subsidiary, Stark said. If successful, the challenge would remove some of the senior lenders' influence over the company's bankruptcy restructuring.

☆ A new study confirms it: The pandemic turned us all into jerks
▼ + stars: | 2022-10-11 | by ( Adam Rogers | ) www.businessinsider.com time to read: +11 min

Graceless under pressureTo see how the pandemic affected us, researchers looked at the so-called Big Five personality traits: agreeableness, conscientiousness, extraversion, neuroticism, and openness. But the new study found a surprising shift during the pandemic — roughly equivalent to what they'd expect from 10 years of life, not two. During the first months of the pandemic, Sutin's team found little personality change. "The only thing that went wrong," says Brent Roberts, a psychologist and expert in personality change at the University of Illinois, "is the goddamn pandemic kept going." For some Americans, the most stressful thing about the pandemic was experts telling them they should help people they don't like.

REUTERS/Peter NichollsLONDON, Sept 23 (Reuters) - Britain's main opposition Labour Party criticised the Conservative government's economic plans on Friday, describing the new prime minister and finance minister as "two desperate gamblers in a casino" who had run out of ideas. "The prime minister and chancellor (finance minister) are like two desperate gamblers in a casino chasing a losing run," she told parliament. Taking aim at the lack of independent scrutiny of the government's plans, Reeves described Kwarteng's statement as "a budget without figures, a menu without prices". While Labour and other opposition lawmakers were biting in their criticism of the government's fiscal statement, supporters of Britain's new government hailed its radicalism. Some said previous Conservative governments, in power for 12 years with five of them in coalition with the Liberal Democrats, should have adopted the policies a long time ago.

Search resuls for: "David Jones"

25 mentions found