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☆ 2016 Trump campaign in $450,000 lawsuit settlement voids worker non-disclosure pacts
▼ + stars: | 2023-02-04 | by ( Jack Stebbins | ) www.cnbc.com time to read: +3 min

Former President Donald Trump's 2016 campaign, as part of a $450,000 settlement of a class-action lawsuit by a former campaign aide, agreed to void non-disclosure agreements that hundreds of campaign workers and volunteers had signed as a condition of their work. The deal, revealed Friday in a court filing, ended a lawsuit filed by former Trump campaign aide Jessica Denson in U.S. District Court in Manhattan. "This compromise is in fact a total victory for Jessica Denson, and all 2016 Trump campaign workers," said David Bowles, a lawyer for Denson. The Trump campaign will pay $450,000 in the settlement, the vast majority of which will cover Denson's lawyers' fees and costs. Prior to the settlement, the 2016 Trump campaign said it would release all employees, contractors and volunteers from any non-disclosure or non-disparagement agreements.

☆ Trump Media deal partner says shareholders approve delay of merger with Truth Social parent
▼ + stars: | 2022-11-22 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

DWAC needed 65% of its shareholders to approve an extension of the deadline to merge with Trump Media until September 2023. If a merger were to take place, it would give hundreds of millions of dollars in funding to Trump Media. Internal documents have shown that Trump Media also considered mergers and partnerships with other right-wing-friendly platforms, including Rumble and Parler. Over the weekend, Elon Musk, the new owner of Twitter, reinstated Trump on the social media platform. The special purpose acquisition vehicle has also been dealing with the fallout from a Trump Media executive's whistleblower complaint to federal regulators.

☆ Gyms and at-home fitness battle for prominence this holiday season
▼ + stars: | 2022-11-11 | by ( Jack Stebbins | ) www.cnbc.com time to read: +4 min

Michael Loccisano | Getty ImagesThe fitness industry appears headed for a strong holiday season, but not everyone will see a boost. Now inflationary pressures and a post-lockdown reset look poised to benefit traditional gyms and trade-down options — threatening connected at-home fitness equipment like the products made by Peloton and Lululemon -owned Mirror. Tarlowe, who covers Planet Fitness and Lululemon, said fitness spending remains steady, even among lower-income, inflation-squeezed consumers. People are trading down and shifting more toward value, he said, "and that bodes well for Planet Fitness." Planet Fitness CEO Chris Rondeau said members are exercising more, too: six times a month versus five times a month when Planet Fitness went public in 2015.

☆ Sam Bankman-Fried steps down as FTX CEO as his crypto exchange files for bankruptcy
▼ + stars: | 2022-11-11 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, US, on Wednesday, Aug 17, 2022. Sam Bankman-Fried's cryptocurrency exchange FTX has filed for Chapter 11 bankruptcy in the U.S., according to a company statement posted on Twitter. CNBC reached out to Adam Landis, founding partner of Landis Rath & Cobb LLP, who filed the Chapter 11 proceedings on behalf of FTX. FTX founder Sam Bankman-Fried admitted on Thursday that he "f---ed up." The Chapter 11 proceedings exclude the following subsidiaries: LedgerX LLC, FTX Digital Markets Ltd., FTX Australia Pty Ltd., and FTX Express Pay Ltd.

☆ Scaramucci talks FTX, Sam Bankman-Fried and 'the worst week in cryptocurrency history'
▼ + stars: | 2022-11-11 | by ( Jack Stebbins | ) www.cnbc.com time to read: +2 min

Anthony Scaramucci, the founder of SkyBridge Capital and short-time Trump communications director, spoke on CNBC's Squawk Box Friday morning about friend and business partner Sam Bankman-Fried, the CEO of the crumbling crypto exchange FTX. Scaramucci told Squawk Box that we went to the Bahamas to help Bankman-Fried as an investor and friend. Scaramucci said he didn't see evidence of this mishandling when he and other investors first screened FTX as a potential business partner. "Duped I guess is the right word, but I am very disappointed because I do like Sam," Scaramucci continued. "There's a lot of distress in the markets, and a lot of my friends think it's the worst week in cryptocurrency history," Scaramucci said.

☆ Shares of Truth Social merger partner fall after Trump's candidates underwhelm in midterm elections
▼ + stars: | 2022-11-09 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

This photo illustration shows an image of former President Donald Trump next to a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022. Shares of the blank check company set to take Trump Media and its Truth Social platform public fell sharply Wednesday after candidates endorsed by the former president disappointed in high-profile midterm election races. Another presidential run could drive traffic to Trump's Truth Social platform, as the ex-president has agreed to post exclusively on the social media platform for eight hours before posting it anywhere else. DWAC has been working to secure enough shareholder support to extend the deadline for the merger with Trump Media until Sept. 2023, with the vote being pushed back multiple times. The merger also faces a criminal probe into possible securities violations over discussions that took place between DWAC and Trump Media prior to the deal announcement.

☆ 2022 midterm elections: Here are the states where recounts are likely
▼ + stars: | 2022-11-08 | by ( Jack Stebbins | ) www.cnbc.com time to read: +7 min

Is the recount automatic? Is the recount automatic? Is the recount automatic? Is the recount automatic? Is the recount automatic?

☆ Democrat Josh Shapiro wins Pennsylvania governor's race, NBC News projects
▼ + stars: | 2022-11-08 | by ( Jack Stebbins | ) www.cnbc.com time to read: +3 min

(C) Democratic candidate for Governor Pennsylvania Attorney General Josh Shapiro poses with supporters following a joint rally with Democratic candidate for U.S. Senate John Fetterman at Norris Park on October 15, 2022 in Philadelphia, Pennsylvania. Josh Shapiro won the Pennsylvania governor's race, defeating Republican Doug Mastriano and keeping the swing-state office in Democratic hands, NBC News projected. Shapiro led Mastriano by about 11 percentage points with roughly 64% of the vote in, according to NBC. The Democrat Shapiro has served as Pennsylvania's attorney general since 2017 and was previously a state representative. Act 77 is the voting law that allows for no-excuse mail-in voting in Pennsylvania.

☆ Shares of Trump-linked SPAC soar 66% as former president hints at 2024 run
▼ + stars: | 2022-11-07 | by ( Jack Stebbins | ) www.cnbc.com time to read: +2 min

The social media app will be developed by Trump Media and Technology Group (TMTG). Shares of Digital World Acquisition Corp ., the company set to take Trump Media and Technology Group public, spiked Monday after former president Donald Trump hinted at a 2024 presidential run. The stock is still down 43% year to date as the special purpose acquisition company navigates financial and legal troubles. However, the company still faces a hurdle to completing its acquisition of Trump Media and the Truth Social platform. Internal documents revealed that he was approached with opportunities from alternative platforms Gettr and Parler before committing to the Trump Media enterprise.

☆ While building Truth Social, Trump spoke with rivals about competing partnerships
▼ + stars: | 2022-11-07 | by ( Jack Stebbins | ) www.cnbc.com time to read: +1 min

The TRUTH Social website is seen on a mobile device with an image of former US president Donald Trump in the background in this photo illustration in Warsaw, Poland on 23 February, 2022. Months after Donald Trump began building his social media platform, Truth Social, he considered jumping ship and backing a competitor, according to an insider account. Litinsky and Moss officially partnered with Trump through their company, United Atlantic Ventures, in February 2021 to build Trump Media and Technology Group, the company behind Truth Social. Months after the initiation of the Trump Media and Truth Social project, Trump met with Gettr. He was offered $5 million a year for his participation, and, according to Wilkerson's daily log, the Truth Social co-founders wondered if Trump would strike a "side deal."

☆ Puma CEO Bjorn Gulden in talks to succeed Kasper Rorsted as chief of Adidas
▼ + stars: | 2022-11-04 | by ( Jack Stebbins | ) www.cnbc.com time to read: +1 min

Adidas announced Friday that it is in talks with Bjorn Gulden, the departing CEO of Puma , to succeed Kasper Rorsted as its chief executive. Adidas confirmed the talks with Gulden as a potential successor, but declined to comment beyond that release. Puma declined to comment. The company terminated its partnership with Ye's Yeezy brand after a series of antisemitic remarks from the rapper. They became rivals and broke off after World War II to start Adidas and Puma, respectively.

☆ Jeff Bezos is interested in bidding for the NFL's Washington Commanders, reports say
▼ + stars: | 2022-11-03 | by ( Jack Stebbins | ) www.cnbc.com time to read: +2 min

Jeff Bezos is interested in bidding for the NFL's Washington Commanders, multiple news outlets reported Thursday. The Washington Post is owned by Jeff Bezos. People reported Bezos' interest earlier Thursday. The reports came a day after current owner Dan Snyder hired Bank of America to explore a sale of the team. Bezos has a home in Washington, D.C., which is near the Commanders' stadium in Maryland.

☆ Trump Media deal partner DWAC adjourns shareholder meeting for sixth time as it seeks votes to delay merger
▼ + stars: | 2022-11-03 | by ( Jack Stebbins | ) www.cnbc.com time to read: +2 min

The Truth social network logo is seen displayed behind a woman holding a smartphone in this picture illustration taken February 21, 2022. Digital World Acquisition Corp ., the shell company set to take Trump Media and Technology Group and its Truth Social platform public, adjourned a shareholder vote on the planned merger for a sixth time Thursday as its Dec. 8 liquidation date nears. DWAC needs 65% of its shareholders to approve an extension of the Trump Media merger to September 2023, a year beyond its original deadline. At least $138 million of the $1 billion that would go to Trump Media has been pulled by these investors. The former president, however, has indicated he will be staying exclusively on Truth Social.

☆ Peloton shares tumble after company offers weak holiday quarter outlook
▼ + stars: | 2022-11-03 | by ( Jack Stebbins | ) www.cnbc.com time to read: +4 min

Peloton posted a wider-than-expected loss for its fiscal first quarter, as a steep decline in connected fitness products revenue outweighed an increase in subscription revenue. Loss per share: $1.20 vs. 64 cents, expected$1.20 vs. 64 cents, expected Revenue: $616.5 million vs. $650.1 million, expected. Peloton's revenue outlook for the holiday quarter, between $700 million and $725 million, would mark a quarter-to-quarter increase, but it's well below analysts' estimates of $874 million. Peloton reported 6.7 million total members, up from 6.3 million last year, but down from 6.9 million the prior quarter. The company reported $199 million in first quarter recall reserves, restructuring and impairment expenses as it continues embarking on its turnaround.

☆ Trump Media documents suggest Parler, Rumble as possible merger partners
▼ + stars: | 2022-11-02 | by ( Jack Stebbins | ) www.cnbc.com time to read: +3 min

The Rumble video platform logo on a laptop computer arranged in Hastings on Hudson, New York, on Saturday, Jan. 23, 2021. Trump Media and Technology Group executives named Parler and Rumble as theoretical acquisitions or partners, according to documents provided by co-founder and whistleblower, William Wilkerson, through his counsel. Wilkerson was one of the early executives at Trump Media and its Twitter-esque social media platform Truth Social. DWAC and Trump Media are also the subject of a criminal probe into possible securities violations relating to conversations that occurred between the two parties prior to the merger announcement. While the photo names these possible acquisition targets, it also names a number of other ventures for Trump Media that have yet to come to fruition, including "Trump Faith/Classic Films," "Trump Book Publishing" and "Trump Documentaries."

☆ CVS Health raises outlook as third quarter results beat estimates
▼ + stars: | 2022-11-02 | by ( Jack Stebbins | ) www.cnbc.com time to read: +3 min

CVS Health reported third quarter earnings Wednesday morning that beat Wall Street's expectations. CVS' Health Care Benefits segment grew nearly 10% compared to the same quarter last year, driven in part by an increase in its medical memberships from 2021. CVS encompasses a large swath of health care services, including its prescription and over-the-counter medicine sales, its MinuteClinic patient care services and its pharmacy benefits manager, CVS Caremark. The retailer has signaled a renewed focus on health care this quarter, announcing its purchase of Signify, an at-home health care company, for $8 billion in September. The move mirrors Amazon and Walgreens own expansions further into health care services.

☆ Brooklyn Nets part ways with head coach Steve Nash after 2-5 start
▼ + stars: | 2022-11-01 | by ( Jack Stebbins | ) www.cnbc.com time to read: +1 min

Brooklyn Nets head coach Steve Nash reacts to a call during the second quarter of the game against the Indiana Pacers at Barclays Center on October 31, 2022 in New York City. The Brooklyn Nets parted ways with head coach Steve Nash on Tuesday, following the star-laden team's 2-5 start to the NBA season. Nash, a Hall of Fame player who won two NBA MVP awards, has coached the Nets since 2020, leading them on two unsuccessful playoff runs. "Since becoming head coach, Steve was faced with a number of unprecedented challenges, and we are sincerely grateful for his leadership, patience and humility throughout his tenure." Marks said it was "an immensely difficult decision" to part ways with Nash, but that, after evaluating the beginning of the season, the change was deemed necessary.

☆ Taylor Swift holds all top 10 spots in Billboard Hot 100 as she announces first major tour in nearly 5 years
▼ + stars: | 2022-11-01 | by ( Jack Stebbins | ) www.cnbc.com time to read: +2 min

Taylor Swift performs on the stage in concert at Mercedes-Benz Arena on May 30, 2014 in Shanghai, China. Taylor Swift said Tuesday she's heading back out on tour, as she occupies all of the top 10 spots of the Billboard Hot 100 with songs from her new album "Midnights." "Taylor Swift | The Eras Tour" is scheduled for 27 dates at U.S. stadiums beginning in March. Along with "Midnights," Swift has yet to tour with her albums "Folklore" and "Evermore" which were released in 2021. She also released "Red (Taylor's Version)" and "Fearless (Taylor's Version)" the same year, as she looks to reclaim the rights to her early works.

☆ Stocks making the biggest moves midday: Uber, Abiomed, Peloton, Carvana, Molson Coors and more
▼ + stars: | 2022-11-01 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Uber – Shares of Uber jumped 12% after the company reported revenue that exceeded Wall Street's expectations. J&J shares fell 1%. Molson Coors Beverage – Shares of Molson Coors fell 3.8% after the beer giant reported earnings that fell short of expectations. Goodyear Tire – Shares fell 13% after the tire company's earnings fell short of expectations due in part to higher costs and a surging dollar. Gartner – The research firm was up 7.5% after it beat per-share earnings expectations, according to StreetAccount, and issued positive full-year guidance.

☆ Truth Social merger partner's shares slip after Trump weighs in on Elon Musk Twitter deal
▼ + stars: | 2022-10-28 | by ( Jack Stebbins | ) www.cnbc.com time to read: +3 min

Shares of Digital World Acquisition Corp. , the blank check company set to take Trump Media and Technology Group and its Truth Social platform public, slipped Friday as Elon Musk took the reins at Twitter. The former president had around 88 million followers on Twitter, but he's amassed only 4.37 million on Truth Social. Barring legal intervention, Trump Media currently has until December to complete the merger with DWAC and go public. Trump posted on Truth Social Friday praising Musk's acquisition, but also touting his own platform. "TRUTH SOCIAL has become somewhat a phenomena.

☆ Trump criticizes PGA Tour, says 'Saudis have done a fantastic job' with LIV
▼ + stars: | 2022-10-27 | by ( Jack Stebbins | ) www.cnbc.com time to read: +3 min

Former President Donald Trump stands on the 18th green during the Pro-Am tournament before the LIV Golf series at Trump National Doral, Oct. 27, 2022. He also criticized the PGA Tour. LIV Golf has been fighting to compete with the PGA Tour, even without a media deal. Trump said he thinks the PGA Tour and LIV could work something out. The PGA Tour declined to comment.

☆ New York Post website hacked, with racist and sexist headlines targeting politicians
▼ + stars: | 2022-10-27 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

The New York Post's website and Twitter account were hacked Thursday, as racist and sexually explicit headlines about Rep. Alexandria Ocasio-Cortez and President Joe Biden were published. A New York Post spokesperson confirmed in an email to CNBC that the posts resulted from a hack. Representatives for the president, Ocasio-Cortez and Adams didn't immediately respond to requests for comment. Content management system Wordpress, which enables publishing to the New York Post site, didn't immediately respond to comment, either. The company, which also uses WordPress, suspended its website immediately.

☆ Defendant in NJ deli stock fraud case makes $2,500 a month from similar shell company
▼ + stars: | 2022-10-26 | by ( Jack Stebbins | ) www.cnbc.com time to read: +4 min

Med Spa, which wasn't named in the indictment, also pays $2,500 a month in consulting fees to Patten's firm Benchmark Capital. Patten's name hasn't appeared in Med Spa filings. Authorities also said they artificially inflated the market value of Hometown International and E-Waste by 939% and 19,900% respectively. Like the other two shell companies, Med Spa Vacations had an initial business goal—in this case, "specialized wellness vacation packages"—that was abandoned in favor of initiating a reverse merger. Med Spa is currently in search of a company with which to complete a reverse merger.

☆ Justice Department's antitrust investigation of PGA Tour includes U.S. Golf Association
▼ + stars: | 2022-10-26 | by ( Jack Stebbins | ) www.cnbc.com time to read: +2 min

The Justice Department's antitrust investigation of the PGA Tour's actions against the upstart LIV Golf league has also ensnared the Augusta National Golf Club and the United States Golf Association. The managing director of LIV Golf, Majed Al Sorour, had warned that LIV would start its own majors, but later walked back the comment on Twitter. Mickelson, meanwhile, told Sports Illustrated that he "wholeheartedly" expects to play at the Masters despite his LIV Golf affiliation. Both the PGA Tour and LIV Golf have been lobbying in Washington D.C. to state their case against the other. LIV Golf also filed its own antitrust suit against the PGA Tour in September, and the tour subsequently countersued, alleging that LIV Golf was anticompetitive because of its restrictive player contracts.

☆ Hawaii couple charged with securities fraud over 'semi-sub' watercraft company
▼ + stars: | 2022-10-25 | by ( Jack Stebbins | ) www.cnbc.com time to read: +2 min

A Hawaii couple was criminally charged with defrauding investors out of more than $28 million with bogus claims about building a watercraft that could partially submerge to give passengers underwater views, federal prosecutors said Tuesday. The couple was charged with securities fraud, conspiracy, mail fraud and wire fraud in an indictment unsealed this week. The couple was also sued by the Securities Exchange Commission for fraud in August over their actions in connection with their company, Semisub Inc., based in Hawaii. An attorney for Jamey Jackson was not listed. The couple reportedly sold securities for the company to investors across the country, including in Pennsylvania and California, where they had been barred from selling securities in 2008 and 2009, respectively.

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