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☆ Jeep-maker Stellantis reports sharp fall in revenue as it shifts car portfolio
▼ + stars: | 2024-04-30 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

Maserati's first GranCabrio convertible since 2019 is scheduled to go on sale this summer in the U.S. Global automaker Stellantis on Tuesday reported a 12% decline in revenue in the first quarter, citing lower sales and foreign exchange effects, even as net pricing held firm. Chief Financial Officer Natalie Knight said year-over-year shipment and net revenue comparisons were difficult due to the company's transition to a "next generation product portfolio manufactured on new platforms." This is a breaking news story and will be updated shortly.

Persons: Maserati's, Natalie Knight Organizations: U.S . Global, Stellantis Locations: U.S

☆ Shari Redstone is playing M&A war games with removal of Paramount CEO Bob Bakish
▼ + stars: | 2024-04-29 | by ( Alex Sherman | ) www.cnbc.com time to read: +5 min

The decision to remove Bakish as CEO comes as Paramount Global closes in on a merger agreement with Skydance Media. A number of large common shareholders, including Gamco Investors, Ariel Investments, Matrix and Aspen Sky Trust have publicly criticized the deal, arguing it destroys value for common shareholders. Paramount Global shares jumped about 5% in premarket trading Monday. Typically, Paramount Global shareholders, such as Gabelli, would compare an offer to the standalone company's prospects — hence his comments about not seeing a sale at all. But by removing Bakish, Redstone and the Paramount Global board are now throwing the status quo into chaos.

Persons: Bob Bakish, CNBC's David Faber, Shari Redstone, David A, Skydance, Mario Gabelli, That's, —, Bakish Organizations: Paramount, CNBC, Paramount Global, Skydance Media, Gamco Investors, Ariel Investments, Aspen Sky Trust, National Amusements, Allen & Company Sun Valley, Grogan, Amusements, New York Post, Bloomberg, Street Journal, Skydance, Apollo Global, Sony, New York Times, Apollo, Foreign Investment, U.S, Communications, Charter Locations: Sun Valley , Idaho, U.S, United States

☆ Julian Assange’s mission was to change the world - but at what cost?
▼ + stars: | 2024-04-27 | by ( Lauren Said-Moorhouse | Claudia Rebaza | ) edition.cnn.com time to read: +14 min

Julian Assange leaves a Melbourne court after facing charges of computer hacking in 1995. WikiLeaks/ReutersUnder a global spotlightAs WikiLeaks continued its disclosures, Assange found himself the latest cause célèbre – his every movement intensely scrutinized. … He liked the fuss that (the disclosures) caused but he was oddly incurious actually about the documents.”Others offer alternative explanations for Assange’s eccentricities. There were mounting calls for Assange to leave WikiLeaks and, when he didn’t, many cut ties with it. Outside the confines of his diplomatic shelter, the world questioned whether Assange was trying to circumvent justice.

Persons: London CNN — Julian Assange, ”, He’s, Chelsea Manning, Joe Biden, Assange’s, Anthony Albanese, Assange, “, ” –, Julian Assange, Ian Kenins, Sarah Palin’s, Atika Shubert, Shubert, ” Shubert, célèbre, Fidel Narvaez, “ Assange, ” Narvaez, James Ball, Joe Raedle, ” Ball, Ball, …, Narvaez, Hans Crescent, Lenin Moreno, Moreno, Abu Hamza al, Masri, Stella Assange, Daniel Leal, Stella, “ I’m, Nick Vamos, It’s, Alice Jill Edwards, Agnès Callamard, El País, Der Spiegel, Jameel Jaffer, Xiaofei Xu, Alex Stambaugh Organizations: London CNN, WikiLeaks, Court, Ecuadorian, Army, Australian, Pentagon, NASA, University of Melbourne, Fairfax Media, of Scientology, Republican, CNN, Chelsea, Apache, Reuters, Guardian, Ellingham, Hans, London’s Metropolitan Police, US Justice Department, of Justice, Britain's, Getty, Peters & Peters, Prosecution Service, Human Rights, UN, Amnesty, The New York Times, Columbia University Locations: United States, Australian, London’s, Australia, Townsville, Queensland, cybercrime, Melbourne, Guantanamo Bay, Cuba, Iraq, London, Afghanistan, ”, Sweden, Ecuador, UK’s, Belmarsh

☆ Here are Friday's biggest analyst calls: Nvidia, Microsoft, Alphabet, Apple, Snap, Intel, Western Digital and more
▼ + stars: | 2024-04-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Friday's biggest calls on Wall Street: Bank of America reiterates Alphabet as buy Bank of America said it is sticking with its buy rating on Alphabet following earnings Thursday. Deutsche Bank reiterates Snap as buy Deutsche Bank said it is sticking with its buy rating on the stock following earnings on Thursday. " Goldman Sachs reiterates Intel as sell Goldman Sachs said it is standing by its sell rating on Intel shares following earnings Thursday. Benchmark upgrades Western Digital to buy from hold Benchmark upgrades Western Digital following the company's "major upside" earnings report. Bank of America reiterates Nvidia as buy Bank of America said Nvidia remains a top idea at the firm.

Persons: Goldman Sachs, prioritization, Maxim, Bank of America downgrades Hertz, Raymond James, Knight, Morgan Stanley downgrades Mobileye, Morgan Stanley, Piper Sandler, Wells, Dow Organizations: Bank of America, Deutsche, Deutsche Bank, Microsoft, Intel, TAM, Apple, Barclays, Enphase Energy, Digital, " Bank of America, Sonic Automotive, underperform Bank of America, Underperform, of America, Nvidia, AMD, MU, Caterpillar, Air Defense, Swift Transportation, EPAM, IT Services, Materials, Compass Minerals, JPMorgan, Dow, Teledyne, HSBC Locations: China, underperform, Israel

CNN —Russia on Wednesday vetoed a United Nations resolution that proposed a ban on the use of nuclear weapons in outer space amid US intelligence-backed concerns that Moscow is trying to develop a nuclear device capable of destroying satellites. In February, President Joe Biden confirmed the US has intelligence that Russia is developing a nuclear anti-satellite capability. It also called on UN member states not to develop nuclear weapons or other weapons of mass destruction designed to be placed in Earth’s orbit. The White House’s comments on the prospect of a Russian nuclear space weapon have deepened those concerns. Last year, Putin deployed tactical nuclear weapons to neighboring ally Belarus, and former Russian president and deputy chairman of Russia’s Security Council Dmitry Medvedev said strategic nuclear weapons could be used to defend territories incorporated into Russia from Ukraine.

Persons: Vassily Nebenzia, Joe Biden, Linda Thomas, Greenfield, Beijing “, ”, Vladimir Putin, Putin, Dmitry Medvedev Organizations: CNN, Wednesday, United Nations, UN, Russia’s Locations: Russia, Moscow, Russian, Japan, Beijing, China, Ukraine, Belarus

☆ The TikTok divest-or-ban bill is a First Amendment disaster, but it may still stand up in court
▼ + stars: | 2024-04-24 | by ( Dan Whateley | ) www.businessinsider.com time to read: +6 min

Maybe…Earlier attempts to ban or force a sale of TikTok often haven't stood up in court. Other parties, like TikTok creators, may launch separate legal challenges in the coming weeks, as they have done in the past. AdvertisementTrump's 2020 order to ban TikTok was halted by a federal judge who said it likely exceeded executive authority. While the bill is framed around forcing US ownership of TikTok, it's likely to result in a ban, which strengthens the free-speech argument. Congress hasn't proven that an outright sale or ban of TikTok is the only way to protect national-security interests.

Persons: Joe Biden, ByteDance, TikTok, haven't, TikTokers, Matthew Schettenhelm, Hans, Lena Shapiro, Ramya Krishnan Organizations: Service, Business, ACLU, Bloomberg Intelligence, Cornell Law School, TikTok, University of Illinois College of Law, Chinese Communist Party, Intelligence Law, CCP, Columbia University Locations: Montana, Texas, Washington, China

☆ How TikTok’s Chinese parent company will rely on an American right to keep the app alive
▼ + stars: | 2024-04-24 | by ( Hadas Gold | ) edition.cnn.com time to read: +5 min

In recent months, the company has foreshowed it plans to challenge the law on First Amendment grounds. Krishnan said even the national security argument will not withstand legal scrutiny because the Chinese government could easily purchase the same data on Americans through the open market. TikTok’s looming legal challenge will be one of several that could eventually reach the US Supreme Court that could completely redefine online speech. Other high-profile cases that will determine whether social media companies can moderate content on their platforms are also likely to be decided this year. “The rules for online speech are being written by the Supreme Court this year,” Persily said.

Persons: CNN —, Joe Biden, ”, Shou Chew, TikTok, Ramya Krishnan, Nate Persily, Persily, “, Christopher Wray, ” Wray, ” TikTok, ” Persily, Krishnan Organizations: CNN, Communist Party, Columbia University, Stanford, Stanford Cyber Policy, American, FBI, NBC, Supreme Locations: China, Montana, TikTok, American

☆ Congress just passed a potential TikTok ban. Here’s what happens next
▼ + stars: | 2024-04-23 | by ( Brian Fung | ) edition.cnn.com time to read: +5 min

Washington CNN —Congress finalized legislation on Tuesday that could lead to a nationwide TikTok ban, escalating a massive threat to the company’s US operations. What does the TikTok legislation do? The earlier TikTok bill had been passed by the House, but it stalled in the Senate. In a procedural move, House Republicans this month attached the revised TikTok bill to the foreign aid package in hopes of forcing the Senate to vote on the TikTok legislation. Bundling the bill with the foreign aid — a top US priority — fast-tracked the TikTok bill and made it more likely to pass.

Persons: Joe Biden’s, Biden, there’s, Will Biden, Jennifer Gay, Mariam Zuhaib, —, TikTok, Shou Chew, ”, Nadine Farid Johnson, ByteDance Organizations: Washington CNN —, Republicans, Senate, White, U.S . Capitol, U.S, TikTok, Columbia University, “ Locations: Israel, Ukraine, United States, Washington, China

☆ In San Francisco, a Home Renovation Can Become a Battle Royale
▼ + stars: | 2024-04-23 | by ( Heather Knight | ) www.nytimes.com time to read: +1 min

The project complies with city codes, and the San Francisco Planning Commission gave unanimous approval months ago; in many cities that would have been good enough for the remodel to move forward. But in San Francisco, neighbors wield unusual power over next-door renovations and modest improvements and can appeal even the replacement of rotted front steps. So on Tuesday, 11 members of San Francisco’s Board of Supervisors will serve as judges in home construction, hearing from Ms. Park and Mr. McDonald, their neighbors, lawyers, Planning Department experts and any members of the public who care to weigh in. The feud between wealthy neighbors is emblematic of the city’s languor when it comes to building anything. San Francisco has already drawn the ire of state housing officials, who have demanded that the city add 82,000 units in the next seven years, a goal that seems out of reach when many projects draw multiple rounds of challenges and years of delays.

Persons: Julie Park, Tom McDonald, McDonald Organizations: San Francisco Planning, San, Supervisors, Planning Department Locations: Francisco’s, San Francisco, San Francisco’s

☆ Terry Carter, Barrier-Breaking Actor and Documentarian, Dies at 95
▼ + stars: | 2024-04-23 | by ( Robert D. Mcfadden | ) www.nytimes.com time to read: +1 min

His death was confirmed by his son, Miguel Carter DeCoste. Mr. Carter was raised in a bilingual home next door to a synagogue in a predominantly Italian neighborhood in Brooklyn. In his first stage role, at 9, Mr. Carter played the Portuguese explorer Vasco da Gama on a voyage of discovery. It was not him but a much younger Terry Carter who had died in a hit-and-run accident in Los Angeles by a pickup truck driven by the rap mogul Marion “Suge” Knight. Slightly misquoting Mark Twain, Mr. Carter posted on social media: “Rumors of my death have been greatly exaggerated.”

Persons: Terry Carter, Duke Ellington, Katherine Dunham, Miguel Carter DeCoste, Carter, Cecil Taylor, Vasco da Gama, Marion “ Suge, Mark Twain Locations: Midtown Manhattan, Italian, Brooklyn, Portuguese, China, Europe, Los Angeles

☆ Trump cedes control of the cash collateral for his $175M civil-fraud bond under new agreement with NY officials
▼ + stars: | 2024-04-22 | by ( Laura Italiano | ) www.businessinsider.com time to read: +1 min

NY took Trump and his bond underwriters to court Monday, three buildings south of his criminal trial. The parties agreed to limit Trump's access to $175M collateralizing his civil fraud appeal bond. The NY Attorney General's Office had been concerned that Trump maintained some control of the cash. AdvertisementLawyers for Donald Trump and the New York Attorney General's Office struck a deal Monday that will now keep the GOP frontrunner from having any access to the cash collateral for his $175 million civil-fraud bond. The agreement reached in civil court in Manhattan essentially moves the all-cash collateral to a Trump-proof lockbox.

Persons: Trump, —, Donald Trump Organizations: NY, Trump, General's, Service, New York, Specialty Insurance, Business Locations: Manhattan

☆ Trump and Attorney General Agree on Minor Changes to $175 Million Bond
▼ + stars: | 2024-04-22 | by ( Matthew Haag | ) www.nytimes.com time to read: +1 min

The deal will keep the bond largely unchanged, with the $175 million in cash that Mr. Trump deposited as collateral remaining in a money-market account, while adding new terms stipulating that the $175 million must remain as cash, and not be transferred into mutual funds, for example. The dispute over the bond was overshadowed on Monday by the start of Mr. Trump’s criminal trial in another Lower Manhattan courthouse a few blocks away. The attorney general, Letitia James, accused Mr. Trump in the civil case of fraudulently inflating his net worth. After a monthslong trial last year, the judge in the case, Arthur F. Engoron, agreed and imposed the massive penalty. But subsequently, an appeals court lowered the judgment to $175 million while it considered Mr. Trump’s appeal of the ruling.

Persons: Donald J, Trump, Letitia James, Mr, Arthur F, Engoron Organizations: New, Knight Specialty Insurance Company Locations: New York, California, Lower Manhattan

CNN —The first criminal trial of Donald Trump is officially underway. Prosecutors and Trump’s attorneys delivered opening statements and the first witness – a former National Enquirer publisher – was called Monday in the historic and unprecedented criminal trial of a former president. “The defendant Donald Trump orchestrated a criminal scheme to corrupt the 2016 presidential election,” said prosecutor Matthew Colangelo told jurors. At the hearing, Trump’s attorneys came to an agreement with the New York attorney general’s office on the terms of that $175 million bond. Trump’s attorneys representing him in the civil matter later stopped by the criminal trial and spoke to cameras in the hallway outside the courtroom where Trump sat at the defense table.

Persons: Donald Trump, –, Stormy Daniels, Trump, ” Trump, Judge Juan Merchan, ”, Matthew Colangelo, “, ” Colangelo, Cohen, David Pecker, Colangelo, it’s, Todd Blanche, “ Donald Trump, ” Blanche, he’s, Blanche didn’t, It’s, Blanche, Cohen’s, Trump ”, Trump’s, Michael Cohen, President Trump, He’s, Pecker, Karen McDougal –, Letitia James, James ’, ” Alina Habba, Merchan, Chris Conroy, Emil Bove Organizations: CNN, Prosecutors, National Enquirer, Trump, American Media Inc, Defense, AMI, Pecker’s AMI, New, Specialty Insurance Locations: New York

☆ Cricket, a big business in India, brings star power to the U.S. with the country's first world cup
▼ + stars: | 2024-04-21 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +5 min

USA Cricket Vice-Captain Aaron Jones poses next to a giant cricket ball, installed at a marketplace to mark 100 days to go for the ICC Men's T20 World Cup, in Miami, Florida, on Feb. 22, 2024. But the sport has boomed in India, the world's most populous country, as well as some other former British colonies. And now, the U.S. men's national cricket team will represent the home country in this year's International Cricket Council Men's T20 World Cup. While traditional cricket matches can last as long as five days, a T20 match typically lasts around three hours. The early June world cup matchups will bring some of that star power to the U.S., with a high-profile India-Pakistan competition and culminating in a U.S.-India match.

Persons: Aaron Jones, Chandan Khanna, Peter Della Penna, it's, Disney, Forbes, RedBird, Jay Shah, Della Penna, —, Liam Plunkett, Dwayne Bravo, Mike Stobe, Tasmai Krishnan, Tasmai, he's Organizations: USA Cricket, ICC, Afp, Getty, U.S . Cricket, Major League Cricket, Los Angeles Knight Riders, MI, San Francisco Unicorns, Seattle, Seattle Orcas , Texas Super Kings, Washington, team, International Cricket Council, U.S, West, New York —, ESPN, Cricket, Disney Star Network, Indian Premier League, IPL, Rajasthan Royals, Control, NFL, BCCI, Angeles Olympic, Times, Icc, U.S . Locations: Miami , Florida, U.S, England, India, MI New York, Seattle Orcas , Texas, West Indies, —, Texas , Florida, New York, Success, Australia, New Zealand, Pakistan, South Africa, New York City

☆ What to know about the TikTok ban bill the House passed
▼ + stars: | 2024-04-20 | by ( Brian Fung | ) edition.cnn.com time to read: +6 min

CNN —House lawmakers have once again passed legislation that could lead to a nationwide TikTok ban, renewing a massive threat to the company’s US operations. In March, House lawmakers approved a bill that would give TikTok roughly six months to sell. Another factor that’s shaking things up is how House Republicans inserted the TikTok bill into a much larger foreign aid package. Biden endorsed the prior version of the TikTok bill, which suggests he may quickly sign any foreign aid package that includes similar language targeting TikTok. In addition to complying with the legislation, TikTok could challenge it in court and has made no secret that it might do so.

Persons: TikTok, Joe Biden, there’s, who’ve, Washington Democratic Sen, Maria Cantwell, Paul Gallant, Cowen, Gallant, Joe Biden’s, Biden, —, Shou Chew, ”, Nadine Farid Johnson, ByteDance Organizations: CNN —, White, Washington Democratic, Republicans, House, Senate, Inc, Columbia University, “, TikTok Locations: United States, Ukraine, Israel, China

☆ Billionaires like Mark Zuckerberg and Bill Gates have transitioned to their spring looks
▼ + stars: | 2024-04-20 | by ( Jordan Hart | ) www.businessinsider.com time to read: +5 min

Tech billionaires are stepping it up from the basic t-shirt and jeans they're known for donning. AdvertisementLook no further than Meta CEO Mark Zuckerberg as a real example of this fashion upgrade to his techy street style. Here's what Zuckerberg and his fellow wealthy tech titans are wearing this spring, according to style experts. Clive Brunskill/Getty ImagesIn March, Bill Gates was spotted in a navy top while sitting in the crowd of a tennis match. Victoria Hitchcock; Oscar HeymanAs for her female clients, Hitchcock said they're going for understated shoe options and eye-catching jewelry.

Persons: —, They're, Victoria Hitchcock, Mark Zuckerberg, he's, Hitchcock, Zuckerberg, Bill Gates, Clive Brunskill, it's, Gates, Paul Altieri, Sergey Brin, George Esquivel, Nicole Pollard Bayme, Gen, It's, Phil Knight, they're, Manolo Blahnik, Oscar Heyman, Manolo Blahnik — Organizations: Service, Tech, Business, Microsoft, LA, Nike, Getty Locations: San Francisco Bay, Silicon, San Francisco, Silicon Valley

☆ New York AG says $175 million Trump fraud bond isn't properly backed, should be voided
▼ + stars: | 2024-04-19 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Former President Donald Trump returns from a lunch break at Manhattan criminal court as jury selection continues in New York, NY on Thursday, April 18, 2024. The filing opposes a joint motion by Trump and KSIC to justify the insurer as the surety company holding the bond. Lawyers for AG Letitia James asked Judge Arthur Engoron to require Trump and other defendants to put up a replacement bond within seven days of ruling on the issue. Trump personally was ordered to pay $454 million in damages, an amount that is growing every day with interest. Trump was required under New York law to post a bond to guarantee the judgment as he appeals the decision.

Persons: Donald Trump, Trump, KSIC, AG Letitia James, Judge Arthur Engoron, Engoron Organizations: Manhattan, The New York Attorney, Knight Specialty Insurance, Trump, AG, Trump Organizations, New Locations: New York, NY, Manhattan

CNN —A Polish man has been charged over claims he assisted an alleged Russian plot to assassinate Ukraine’s President Volodymyr Zelensky, according to authorities in Poland and Ukraine. Prosecutors said the man agreed to provide information to Russian spies about security at Rzeszów-Jasionka airport, in southeastern Poland, about 100 kilometers (62 miles) from the border with Ukraine. Ukrainian authorities said they uncovered the plot and handed key evidence to Polish officials, who then detained the accused on Polish territory. “Our security authorities have prevented possible explosive detonations that were intended to affect and undermine our military aid to Ukraine. The Russian Embassy in Berlin dismissed the accusations as an “outright provocation,” Russian state news agency TASS reported.

Persons: Volodymyr Zelensky, “, Ukraine Volodymyr Zelensky, Prosecutors, Zelensky, Nancy Faeser Organizations: CNN, Ukrainian Security Service, Federal Public Locations: Poland, Ukraine, Jasionka, Zelensky, Ukrainian, Europe, Russia, Mykolaiv, Russian, Bavarian, Bayreuth, Karlsruhe, Germany, Berlin

☆ Here are Thursday's biggest analyst calls: Tesla, Nvidia, Apple, Amazon, eBay, Zoom, JetBlue, BJ's & more
▼ + stars: | 2024-04-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

"We are initiating coverage of Samsara (IOT) with a Buy rating and $42 price target." Deutsche Bank adds a catalyst call buy on Estee Lauder Deutsche added a short-term buy rating on shares of the beauty giant. Bernstein reiterates Apple as market perform Bernstein said it's getting more "constructive" on Apple shares but is sticking with its market perform rating for now. "We are initiating coverage of AES with a Buy rating and $21PT. "We are initiating coverage on shares of Beacon Roofing Supply (BECN), a leading roofing products distributor in the United States, with a Buy rating and $135 PT."

Persons: Goldman Sachs, Goldman, Oppenheimer, JPMorgan, Lauder Deutsche, Mizuho, TD Cowen, Cowen, it's, Bernstein, Jefferies, Kite, Kite Realty Jefferies, GE Vernova, Tesla, Needham, Andy, BTIG, Davidson, Barnes, Morgan Stanley downgrades, Morgan Stanley, Etsy, Rosenblatt, Swift, Janney Organizations: Bank of America, Cisco Systems, Goldman Sachs, P, JPMorgan, JetBlue, Bancorp, SPT, Oracle, Deutsche Bank, Linde, Mizuho, LIN, Nvidia, Apple, Kite Realty, GE, Metro NY, SSS, Deutsche, Infrastructure, FTAI Infrastructure, BMO, New, AMC, Barnes Group, AES Corporation, AES, eBay, EBAY, UW, ZS, Comcast, CNBC, Benchmark, Beacon Locations: New York City, OW, United States

☆ Live Updates: Columbia’s President to Testify in Antisemitism Hearing
▼ + stars: | 2024-04-17 | by ( Sharon Otterman | ) www.nytimes.com time to read: +4 min

From left, Claudine Gay, president of Harvard University; M. Elizabeth Magill, president of Penn; Pamela Nadell, a professor at American University; and Sally Kornbluth, president of M.I.T., at a congressional hearing in December. When Nemat Shafik, the president of Columbia University, was asked to appear before Congress to testify about antisemitism on college campuses in December, she cited a scheduling conflict and said she could not attend. The president of the University of Pennsylvania, M. Elizabeth Magill, resigned four days after her appearance at the hearing, where she delivered evasive answers about campus antisemitism. Harvard’s president, Claudine Gay, similarly gave vague responses and faced fierce backlash for weeks up to her resignation in January. Lawyers who prepare clients to testify before Congress said that while there are risks to not appearing, it is always an option.

Persons: Claudine Gay, Elizabeth Magill, Penn, Pamela Nadell, Sally Kornbluth, Nemat Shafik, Shafik, Minouche, Christopher Armstrong, “, you’re, ”, it’s, ” Mr, Armstrong, There’s, Emily Loeb, Block, ” Sharon Otterman Organizations: Harvard University, American University, Columbia University, University of Pennsylvania, Massachusetts Institute of Technology, Education, Workforce, United Nations, Change, Lawyers, Holland, Knight, Jenner Locations: Dubai

☆ Big names are leaving Tesla. An analyst says Elon Musk has to quickly lay out what the layoffs mean.
▼ + stars: | 2024-04-16 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +4 min

Elon Musk has been urged to lay out a vision for Tesla as senior staff leave amid layoffs. AdvertisementElon Musk must set out a vision for Tesla after investors were spooked by high-profile departures amid layoffs, an analyst has said. Tesla stock fell 5.6% on Monday after Elon Musk announced over the weekend that more than 10% of its workforce would be laid off. Those departing Tesla worked on critical projectsBoth Baglino and Thurston worked on critical projects at the Texas factory. In an X post earlier this month, Musk said Knight was "going to join OpenAI, so it was either xAI or them."

Persons: Elon Musk, Tesla, Musk, —, Elon, Dan Ives, Ives, Drew Baglino, he'd, Rohan Patel, Anthony Thurston, Electrek, Thurston, Fred Lambert, Amir Mirshahi, Zachary Kirkhorn, Tesla's, Ethan Knight, Musk's, Knight Organizations: Service, Elon, Energy, Tesla, Business, OpenAI Locations: Texas

☆ Trump defends 'respected' company behind his $175M civil fraud bond
▼ + stars: | 2024-04-16 | by ( Laura Italiano | ) www.businessinsider.com time to read: +4 min

Trump's lawyers defended his $175M civil fraud bond — and Knight Specialty — in court filings. AdvertisementLawyers for Donald Trump are defending the "respected" insurers behind his $175 million civil fraud bond in a series of new court filings. Trump's bond was underwritten by Knight Specialty Insurance Company, based in Los Angeles, run by billionaire Trump supporter Don Hankey, a so-called king of subprime car loans. "KSIC is a respected, well-capitalized, Delaware-domiciled insurer that has long underwritten surety bonds and other types of insurance placed around the country," Trump's lawyers wrote. Beyond that, the insurer "has access to more than $2 billion in assets and $1 billion in equity" through its parent company, Knight Insurance Company," the filings say.

Persons: Trump, —, Donald Trump, general's, Charles Schwab, KSIC, Letitia James, Knight, Arthur Engoron, Engoron, Don Hankey, Trump's Schwab, Read, Christopher Kise, Alina Habba, Clifford Robert Organizations: Service, underwriters, New York, Knight Specialty Insurance, Knight Insurance Company, Trump, Associated Press Locations: Manhattan, KSIC, New, Los Angeles, Delaware, Engoron

CNN —Lawyers for former President Donald Trump said his $175 million bond posted to satisfy the judgement in the New York civil fraud case is financially sound, and they asked the judge to set aside the attorney general’s challenge to the bond and award him costs and fees. In court filings Monday night, Trump said the bond secured by Knight Specialty Insurance Company is backed by Trump’s Charles Schwab account with more than $175 million in cash. “KSIC also has a standing agreement with its parent company, Knight Insurance Company, Ltd. (‘KIC’), by which KIC reinsures 100% of KSIC’s risk,” the affirmation said. “The $175 million bond at issue is adequately secured.”Earlier this month, the attorney general’s office challenged the financial ability of the underwriter to be able to stand in for the bond. The attorney general’s office questioned whether Knight Specialty was authorized to underwrite a surety bond in New York state and whether it lacked a certificate from the state regulator saying it is qualified.

Persons: Donald Trump, Trump, Trump’s Charles Schwab, Schwab, Gregory Serio, “ KSIC, Arthur Engoron, ” Organizations: CNN, Knight Specialty Insurance, DJT Trust, Knight Insurance Company, Ltd Locations: New York

☆ Rejoice, millennials: The vampire boyfriend is cool again
▼ + stars: | 2024-04-14 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +7 min

If you've spent time on TikTok or X in the past few months, you may have spotted a proliferation of videos and posts about two video game characters. There's Astarion from "Baldur's Gate 3," and more recently, there's Vincent Valentine, a fan-favorite character from Square Enix's "Final Fantasy VII" remake. Square Enix; Gregg DeGuire/Getty ImagesMercer's opening line in "Final Fantasy VII: Rebirth" is now a fandom legend. from within the depths of his velvet-lined coffin, longtime "Final Fantasy" fans were introduced to the super-cool, uber-goth gunslinger. "I hope viewers of the work see, too, that there's more underneath the surface of a person than the trope of this decadent, hedonistic, theatrical vampire," Newbon said.

Persons: —, hasn't, you've, There's, there's Vincent Valentine, Edward Cullen sparkled, Edward, he's, there's, Alucard, Valentine, Matthew Mercer, Neil Newbon, Matt Mercer, Zelda, Vincent Valentine, Gregg DeGuire, Vincent, Mercer, I've, Vox, Scott Garfitt, who's, Astarion, Newbon Organizations: Service, Business, BAFTA, Getty Images

☆ Niger: Russian weapons and trainers arrive, weeks after US military agreement ends
▼ + stars: | 2024-04-12 | by ( Michael Rios | Mariya Knight | ) edition.cnn.com time to read: +1 min

CNN —Russia has delivered military equipment to Niger that will provide the African country with the “latest generation of anti-aircraft defense systems,” Nigerien state broadcaster RTN said Thursday. The equipment arrived in Niamey on Wednesday along with 100 Russian military instructors who will install the system and train Nigerien soldiers to use it, RTN added. AFP/Getty ImagesThe arrival of Russian instructors followed a recent phone conversation between Russian President Vladimir Putin and Nigerien General Abdourahamane Tiani on March 26 when the two leaders discussed “ensuring security and combating terrorism.”Since seizing power in a coup last year, Niger’s junta has been strengthening military ties with Russia while turning away from the US and France. Last month, the junta said it was ending an accord with the US that allowed military personnel and civilian staff from the US Department of Defense to operate in Niger. France, Niger’s former colonial ruler, withdrew its troops from the African nation at the end of 2023.

Persons: RTN, Novosti, Seyni, Vladimir Putin, Abdourahamane Tiani Organizations: CNN, RIA Novosti, NATO, Niger's National Council, Safeguard, Getty, Nigerien, US Department of Defense Locations: Russia, Niger, Nigerien, Niamey, Africa, ”, Agust, AFP, France, Niger . France

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