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☆ From 25 years in prison to just four months: Inside the final verdict on a crypto billionaire CEO archrivalry
▼ + stars: | 2024-05-05 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +18 min

Combination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance. A month earlier, on the opposite coast in downtown Manhattan, FTX's Sam Bankman-Fried received a 25-year prison sentence for his crimes. At the beginning of his trial, SBF sported a fresh haircut and wore suits, but by its end, his curls were wild again. Cryptocurrency exchange Binance founder and CEO Changpeng Zhao speaks at a Binance fifth anniversary event in Paris, France, July 8, 2022. watch nowMoney makes all the differenceUnlike SBF, CZ didn't have his wealth wiped out by bankruptcy of the crypto company he founded.

Persons: Sam Bankman, Zhao Changpeng, Mike Segar, Benjamin Girette, Changpeng Zhao, FTX's Sam Bankman, Fried, Zhao, Binance's Zhao, FTX's, Toyotas, Braden Perry, Perry, Manfred, SBF, Michael Lewis, Lewis, Sam didn't, Amr Alfiky, Sam, Caroline Ellison, —, Zhao's, Yi He, Binance, David Ryder, Yang, Rachel Zhao, Yesha Yadav, Yadav, Mark Bini, Lewis Kaplan, Bankman, Kaplan, perjured, Neama Rahmani, Rahmani, Tre Lovell, Zhao hasn't, Lovell, weren't, FTX Organizations: Reuters, Bloomberg, Getty, Department of Justice, CFTC, Stanford University's, Bankman, CZ, Staff, Reuters Prosecutors, Alameda Research, Vanderbilt University, Wall Street, CNBC, FTX, Emergency Economic, Justice Department, DOJ Locations: Seattle, Manhattan, California, Hong Kong, Bahamas, Palo Alto, U.S, New York City, Alameda, Seattle , Washington, Paris, France, Angeles, Binance, Dubai, Delaware

☆ Russia’s Brutal War Calculus
▼ + stars: | 2024-02-24 | by ( Paul Sonne | Josh Holder | ) www.nytimes.com time to read: +7 min

Russia’s Brutal War Calculus Freedoms Wages The costs of two years of war in Ukraine have been enormous. Here is a look at how Russia at war has changed — suffering enormous costs by some metrics but faring better than expected by others. But Mr. Putin has convinced many that in invading Ukraine, Russia is defending itself against an existential threat from the West. Blood and TreasureIn the early months of the war, Mr. Putin’s military made grave mistakes, but it has regrouped. But despite their stated support for the war, many Russians would be happy for it to end.

Persons: languish, Instagram, Vladimir Putin, Putin, ”, “, Putin’s, Aleksei A, Navalny Organizations: Daily Life People, Facebook, Travel, Trade, Russia, Military Locations: Ukraine, Russia, China, Soviet Union, India, Moscow, Europe, Turkey, Ukrainian

☆ Daytona 500: how to watch and what to know about Monday’s race as storms loom
▼ + stars: | 2024-02-18 | by ( Travis Caldwell | Issy Ronald | ) edition.cnn.com time to read: +5 min

CNN —The Daytona 500 has been postponed until Monday for just the third time in its history due to “inclement weather,” organizers announced Sunday. Consistent rainfall washed out Saturday’s lower-division Xfinity Series race and Sunday’s forecast is far from sunny. 6) exits the garage area during Daytona 500 practice on Friday. A two-time series champion and 2015 Daytona 500 winner, Joey Logano took the pole position with an average qualifying lap speed of 181.947 mph and will be a favorite to run up front throughout the day. Ricky Stenhouse Jr., the defending race champion and often competitive at superspeedways, will start 35th in the No.

Persons: Dwayne “, ” Johnson, –, Brad Keselowski, Mike Ehrmann, Joey Logano, Michael McDowell, McDowell, Toyotas, Sean Gardner, Ryan Blaney, Chase Elliott, Denny Hamlin, Bubba Wallace, Michael Jordan, William Byron, Kyle Larson –, Kyle Busch, gunning, Jimmie Johnson, Richard Petty, Ross Chastain, Pitbull, Ricky Stenhouse, Ryan Blaney's, Jared C, Tilton Organizations: CNN, NASCAR, Netflix, Daytona, FOX, Ford, Fords, Getty, Los Angeles Coliseum, Toyota, Hamlin, Chevrolet, of Famer Locations: Florida, Martinsville, pileups

DAYTONA BEACH, Fla. (AP) — Ford swept the front row in qualifying for the Daytona 500 with former race winners Joey Logano and Michael McDowell shocking powerhouse Hendrick Motorsports. Superspeedway qualifying is 100 percent the car,” said Logano, who won the first Daytona 500 pole for Team Penske. Logano turned a lap of 181.947 mph as the 2015 Daytona 500 winner earned his first pole since Atlanta last year. Larson was third in a Chevrolet after Hendrick drivers had won three straight Daytona 500 poles heading into Wednesday night. Dillon won the Daytona 500 in 2018.

Persons: — Ford, Joey Logano, Michael McDowell, ”, Logano, “, ” Hendrick, Kyle Larson, McDowell, Larson, Hendrick drivers, Austin Cindric, Chase Elliott, William Byron, Richard Childress, Austin Dillon, Kyle Busch, Ross Chastain, Harrison Burton, Dillon, Anthony Alfredo, Beard, David Ragan, Jimmie Johnson, Alfredo, ” Ragan, “ It's, I've, Ragan, Erik Jones —, Johnson, —, “ I’ve Organizations: DAYTONA, Hendrick Motorsports, Team Penske, Ford, Atlanta, Row, Hendrick, Penske, Trackhouse Racing, Wood Brothers, Beard Motorsports, RFK Racing, Motor, Chevrolet, Toyota Locations: Fla, Logano, Camaros, Chevrolets

☆ Toyota shares slide 4% after vehicle recall, Daihatsu safety issues
▼ + stars: | 2023-12-21 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Japanese automaker Toyota led losses on the Japan's benchmark Nikkei 225 index Thursday, closing lower by 4%. The sharp fall came after Toyota announced a recall of about a million vehicles on Thursday. The safety recall involved certain 2020-2022 Toyota and Lexus models in the United States. The sell-off also comes after Toyota subsidiary Daihatsu halted shipments of all its vehicles on Wednesday, after an investigation found safety issues with its cars, including cases where airbag control units used in airbag tests for some models were different from the ones sold to the public. A independent panel had been probing Daihatsu after it said in April it had rigged side-collision safety tests carried out for 88,000 small cars, most of those sold as Toyotas.

Organizations: Toyota, Lexus, Daihatsu Locations: United States

By last year, with sanctions elsewhere tightening, Russia was buying more than a quarter of Japan's used-car exports for an average price of almost $8,200. That was more than double the price in 2020, when Russia took about 15% of Japan's used-car exports. Those sales had been on track to top $1.9 billion for all of 2023 before Japan imposed its own tougher sanctions, trade data show. A system of mandatory inspections pushes the cost of maintaining used cars higher for customers in Japan. Battery recycling firm 4R Energy has seen a "significant" tailwind from declining used-car prices, including the Nissan Leaf, said chief executive Yutaka Horie.

Persons: Sergei Karpukhin, Japan's, we've, Olesya Alekseeva, Takanori Kikuchi, Wataru Nishiwaki, Yutaka Horie, Daniel Leussink, Gleb Stolyarov, Kevin Krolicki, Sonali Paul Organizations: Toyota, REUTERS, Rights, SV Alliance, Japan's Ministry, Economy, Trade, Industry, Honda, Energy, Nissan, Sumitomo, Thomson Locations: Moscow, Russia, Ukraine, Japan, New Zealand, Southeast Asia, Africa, Toyama, Russia's Vladivostok, Malaysia, Mongolia, Pakistan, Tanzania, Niigata prefecture

Denny Hamlin didn't chill Sunday with his bravado that this is indeed the year he will finally win a NASCAR championship. The day after his win at Bristol Motor Speedway hurdled Hamlin and his No. 11 team into the second round of NASCAR's playoffs, Hamlin was still pumping his chest. Hamlin shared a back-and-forth with the crowd, and that's when he first declared that this is, finally, his year. Hamlin only got the win in Bristol but was strong enough to sweep the opening two races, won by Larson and Reddick.

Persons: Denny Hamlin, hurdled Hamlin, Hamlin, ” Hamlin, Bubba Wallace, Joe Gibbs, Gibbs, He's, Hamlin didn't, Ross Chastain, Kyle Larson, Tyler Reddick, Joey Logano, Kevin Harvick, Hamlin gnawed, I've, I’m, I’ve, Ned Jarrett, Junior Johnson, “, ”, Martin Truex Jr, Christopher Bell, Truex, Logano, ” Truex, William Byron, Kyle Busch, Richard Childress, Chastain, Ford, Ryan Blaney, Brad Keselowski, Chris Buescher, Reddick, doesn't, Chris Gabehart Organizations: NASCAR, Bristol Motor, 23XI Racing, Darlington, Bristol, of Fame, JGR, ” Chevrolet, Hendrick Motorsports, Trackhouse, Team Penske, RFK Racing, Larson Locations: Tennessee, Phoenix, Kansas, Bristol

☆ EVs are running out of customers — and some dealers don't want them anymore
▼ + stars: | 2023-08-23 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com time to read: +5 min

AdvertisementAdvertisementMore electric vehicles are being pumped out of car factories than ever before – but some dealers don't want them. Electric car inventory has been piling up on dealership lots this year as companies up their EV production, leading some dealers to say enough is enough. Some are telling automakers they don't want any more until they can sell what's sitting, several dealers told Insider. AdvertisementAdvertisementIn the EV plateau, dealers are left in the lurchIn this round of growing pains for the electric car market, dealers are set up for the most trouble . "Dealers know in real time with real-time feedback what the market is doing," Karl Brauer, an automotive analyst for iSeeCars, previously told Insider.

Persons: Scott Kunes, Kunes, It's, Sam Fiorani, Fiorani, EVs, Tesla, Adam Lee, he's, Lee, Karl Brauer Organizations: Morning, Kunes, RV Group, Nissan, Mitsubishi, AutoForecast Solutions, Coast Ford, Midwest, Hyundai, Lee Auto, iSeeCars Locations: Detroit, West Coast, Maine

☆ Toyota’s Land Cruiser to Return to U.S.
▼ + stars: | 2023-08-01 | by ( River Davis | ) 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/toyotas-land-cruiser-to-return-to-the-u-s-7b2eb343

Persons: Dow Jones

☆ These tiny Japanese pick-up trucks that cost about $5,000 are winning fans in America
▼ + stars: | 2023-06-18 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Tiny Japanese trucks that cost as little as $5,000 are winning over some Americans. It's not just tiny homes taking America by storm – now tiny trucks made in Japan are becoming increasingly popular too. The tiny trucks are a common sight on Japanese roads, but they've also won over some Americans wanting a versatile, compact – and cheap – vehicle. The cheapest Kei truck sold by Japan Car Direct is about $5,000, with shipping costs accounting for much of that sum. Japan Car Direct and its competitors will walk customers through the import process, which requires several forms to be completed.

Persons: they've, It's, Kei, Subaru Sambar, Suzuki, Matt Matusiak, we've, Matusiak, there's Organizations: Japan, Morning, Daihatsu, Subaru, Mitsubishi, Honda, Nissan, of Transportation, Environmental Protection, Vehicles, Twitter Locations: America, Japan, Pennsylvania

☆ New York City files lawsuit blaming Hyundai, Kia for 'spiraling epidemic' of car thefts after 'Kia boys' viral TikTok thefts cause spike in stolen cars
▼ + stars: | 2023-06-08 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +6 min

New York City joins a growing list of cities and states taking legal action against Kia and Hyundai. New York City has joined a growing list of cities and states to take legal action against Hyundai and Kia. TikTokers have suggested a "hack" to get a Kia or Hyundai car started without the key. In New York City, the suit cited, Kia thefts increased about 241% between 2021 and 2022. Hyundai thefts similarly increased by 179%.

Persons: Kia, Kias, Louis, Hyundais, TikTokers Organizations: Kia, Hyundai, Morning, Progressive, European Union, America, New York Police Department, Mercedes, Apple Locations: York City, New York City, Cleveland, Milwaukee, San Diego, Columbus, St, Seattle, New York, Canada

Ships in the Autonomous Port of Cotonou in Benin, West Africa. Prosper Dagnitche/AFP/Getty ImagesThe stream of used cars heading to West African ports is only expected to increase with the West’s shift to electric vehicles. “It’s not like people want to drive used cars; it’s an affordability issue.”Experts say demand for used cars could explode further as the take up of electric cars in the West increases the supply of used cars to African countries. Those states also have robust port operations, making them an ideal place to ship used cars to Africa. “In terms of where Africa goes, the transition shouldn’t necessarily be from used cars to brand new combustion engines, it should be from used cars to EVs,” Ipke said.

☆ How the president of Abbot Downing tried to save the Wells Fargo unit for the ultra-rich from being folded
▼ + stars: | 2023-05-16 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Wells Fargo folded Abbot Downing, which served the bank's wealthiest clients, in late 2020. In late 2020, Wells Fargo disbanded Abbot Downing, the unit that catered to the bank's wealthiest clients. Abbot Downing was folded into Wells Fargo's private bank, which also serves rich clients, but it wasn't a safe haven. Business Wire via APGinter left Wells Fargo in September 2021 to launch a new registered investment advisor the following March. Some ex-Abbot Downing employees refer to Callan the "new Abbot Downing" for its focus on the ultra-rich set.

☆ Abbot Downing's president pitched a buyout to save the Wells Fargo unit from being folded. The bank said no, and employees have fled.
▼ + stars: | 2023-05-11 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

☆ Inside Wells Fargo's 'chaotic' journey to transform its services for the ultrarich
▼ + stars: | 2023-05-04 | by ( Hayley Cuccinello | Reed Alexander | ) www.businessinsider.com time to read: +23 min

In late 2020, some 300 Wells Fargo employees were summoned to a conference call. "I actually welcomed that, although I did like Abbot Downing," he said of folding Abbot Downing into the private bank. One team of legacy Abbot Downing employees with $3.5 billion in assets left for Hirtle Callaghan in June 2021. Today, Ginter runs a registered investment advisor called Callan Family Office, which some former Abbot Downing employees refer to as "the new Abbot Downing." Are you a current or former client of Wells Fargo Private Bank or Abbot Downing?

☆ Tiktok-inspired 'Kia Boys' car thefts could be a $600 million problem, according to a new court document
▼ + stars: | 2023-04-27 | by ( Jack Newsham | ) www.businessinsider.com time to read: +5 min

In cities across the country, thefts of Hyundai and Kia vehicles have skyrocketed. Now some drivers are trying to get Kia and Hyundai to pay the tab, saying the security features were illegally lax. And recently, auto insurers made a preliminary estimate of the total cost: $500 million to $600 million. But actually installing the updates in a reported 3.8 million Kias and 4.5 million Hyundais is another story, and state regulators have urged the carmakers to recall the impacted vehicles. She said Hyundai and Kia should move quickly to get a handle on the case and win back public trust.

☆ US government’s proposal to boost EV sales is challenging but not impossible
▼ + stars: | 2023-04-12 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

By 2032, electric vehicles would need to make up about two-thirds of all the new cars sold in America. And even as EV market share rises to two-thirds, it’s not like EVs will flood America’s roads overnight, he said. Reaching two-thirds EV market share mark by 2032 isn’t a sure thing, said Cantor, but it should be manageable. The increasing number of automakers entering the EV market will also help, said Ivan Drury, an industry analyst with Edmunds.com. General Motors also has a number of EV models coming in the next year or two.

☆ I charged a Kia at a Tesla Supercharger and saw how Elon Musk can make EV charging suck less for everybody
▼ + stars: | 2023-03-28 | by ( Tim Levin | ) www.businessinsider.com time to read: +5 min

I tested out the experience in a Kia Niro EV that Kia lent me. Charging a non-Tesla at a Tesla charging station was notably smooth and convenient. The Kia Niro EV charges at a Tesla Supercharger in Brewster, NY. The Kia Niro EV charges at a Tesla Supercharger in Brewster, NY. The Kia Niro EV charges at an EVgo charging station.

☆ Use this calculation to find the best used car for your money — plus 10 models that come out on top
▼ + stars: | 2022-12-27 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

The report then ranked those models based on the cost per remaining mile calculation to determine which used cars are the best deal. The 10 best used cars for the moneyIn the No. Overall, five Toyotas made the top 10 list of best 5-year-old used cars for the money, also including the Camry, Corolla and Avalon. He offered these five tips for anyone in the market for a used car. Being "basic" has its benefits: Going with widely popular models has an added advantage when it comes to buying a used car, Drury said.

☆ These 10 cars have the greatest potential lifespan — and 6 are Toyotas
▼ + stars: | 2022-12-04 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

watch nowNew cars are getting increasingly expensive. But they're also more durable than before, which means drivers have a better chance of getting their money's worth. Power and LMC Automotive — the average age of cars on the road also hit an all-time high of 12.2 years in 2022, a separate report by IHS Markit found. The average age had been just over 11 years a decade ago. 10 cars with the greatest potential lifespanAmong the models with the greatest potential lifespan, Toyota Sequoia topped the list, with the ability to travel nearly 300,000 miles, followed by the Land Cruiser, according to a recent iSeeCars study, which analyzed more than 2 million cars over the past 20 years to see which vehicles could last the longest.

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