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☆ Inflation outlook rises, fueled by expected increases for housing costs, New York Fed survey shows
▼ + stars: | 2024-05-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

On a one-year basis, the expectation increased to 3.3%, up 0.3 percentage point from March and the highest since November 2023. However, expected increases in housing prices are particularly troublesome for policymakers who expected shelter costs to ease this year. Along with expected higher home costs, respondents see rents rising 9.1%, up 0.4 percentage point from the prior month. They expect food prices to increase 5.3% (up 0.2 percentage point from a month ago), gasoline to rise 4.8% (up 0.3 percentage point); and college education to increase by 9%, a 2.5 percentage point surge. Economists surveyed by Dow Jones expect the all-items CPI to show a 3.4% increase for April from the prior year, down 0.1 percentage point from March.

Persons: Philip Jefferson, Dow Jones Organizations: Costco, Consumers, New York Federal Reserve, University of Michigan, Labor Locations: Novato , California, New, New York

☆ Stock futures are little changed as investors brace for key inflation reports: Live updates
▼ + stars: | 2024-05-13 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Stock futures flickered near the flatline Monday evening as Wall Street braced for the release of key inflation reports. S&P 500 futures inched down 0.02%, while Nasdaq 100 futures slipped 0.08%. Another market catalyst will emerge Tuesday morning as the first of two key inflation reports will be released. "It's not unusual for Wall Street and Main Street to see the economy differently — the different perspective stems from different points of focus. Stock market movements are based on expectations of future economic performance, not necessarily current conditions," said Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management.

Persons: Dow, Dow Jones, Jerome Powell, Brent Schutte Organizations: Nasdaq, Dow Jones Industrial, New York Federal Reserve, PPI, Northwestern Mutual Wealth Management

☆ Renters' hopes of being able to buy a home have fallen to a record low, New York Fed survey shows
▼ + stars: | 2024-05-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

The share of renters as of February who possess hopes of "residential mobility," or the belief from renters that they one day will be able to afford a home, fell to a record low 13.4% in the central bank's annual housing survey for 2024. Pessimism about future prospects comes amid a confluence of factors conspiring against the likelihood of renters being able to transition to home ownership. Moreover, mortgage rates have remained high by historical standards. Survey respondents expect housing prices to increase 5.1% over the next year, nearly double the 2.6% expected rate in February 2023 and above the pre-pandemic mean of 4.2%. Despite prospects for the Fed to cut interest rates before the end of 2024, respondents think mortgage rates are only going to go higher.

Persons: Freddie Mac, There's Organizations: New York Federal Reserve, New York Fed, National Association of Realtors, Fed, Federal, Market Locations: Manhattan, New York City, New

☆ Trump campaign lawyers can't quit workplace discrimination case for now, judge rules
▼ + stars: | 2024-05-02 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

Republican presidential candidate and former U.S. President Donald Trump holds a campaign rally at Ted Hendricks Stadium in Hialeah, Florida, U.S. November 8, 2023. A New York federal judge on Thursday rejected — for now, at least — a request by a law firm to withdraw from representing the presidential campaign of Donald Trump in a discrimination lawsuit by former 2016 campaign advisor Arlene "A.J." In addition to the Trump campaign, the firm represents the other defendants in Delgado's suit: Reince Priebus, Sean Spicer, and Steve Bannon all of whom held top positions in the Trump White House. Parker's order Thursday noted that because the Trump campaign "is an entity" — not a person — "it may not represent itself." "Thus, if the motion to withdraw is granted, the Campaign will be at risk of default if it does not promptly obtain substitute counsel," the judge wrote.

Persons: Donald Trump, Ted Hendricks, —, Arlene " A.J, Delgado, Katharine Parker, Hornik, Greenberg, Kittredge, Carlin, McPartland —, Trump, Parker's, Parker, Reince Priebus, Sean Spicer, Steve Bannon, Jason Miller Organizations: New, Trump White House Locations: Hialeah , Florida, U.S, New York, Manhattan, Hornik

☆ Eight newspaper publishers sue Microsoft and OpenAI over copyright infringement
▼ + stars: | 2024-04-30 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Eight U.S. newspaper publishers filed suit against Microsoft and OpenAI in a New York federal court on Tuesday, claiming the technology companies reuse their articles without permission in generative artificial intelligence products and incorrectly attribute inaccurate information to them. The group of eight newspaper publishers takes issue with ChatGPT and Microsoft's Copilot assistant — available in the Windows operating system, the Bing search engine, and other products the software maker produces. The legal challenge comes four months after The New York Times sued OpenAI over copyright infringement in the ChatGPT chatbot that the startup released in late 2022. The New York Times case also touched on the matter of OpenAI models regurgitating information from its articles. Correction: This article has been updated to reflect the correct day the lawsuit against Microsoft and OpenAI was filed.

Persons: Sam Altman, Microsoft's, OpenAI, Axel Springer Organizations: Economic, U.S, Microsoft, Bing, Southern, of, New York Daily News, Chicago Tribune, Orlando Sentinel, Sun Sentinel, The Mercury, The Denver Post, Orange County Register, Pioneer Press of Minnesota, CNBC, New York Times, OpenAI's, Financial, Google Locations: Davos, Switzerland, New York, U.S, of New York, Florida, California, Orange

☆ Trump trial set to pick final alternate jurors for hush money case
▼ + stars: | 2024-04-19 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

Former U.S. President Donald Trump appears ahead of the start of jury selection at Manhattan Criminal Court on April 15, 2024 in New York City. The New York criminal hush money trial of Donald Trump is poised to get its final five alternate jurors Friday after a full 12-person panel and one alternate were seated a day earlier. Judge Juan Merchan anticipates opening arguments in the Manhattan Supreme Court trial to begin Monday. Trump has said that he would testify in the hush money trial. The presumptive Republican presidential nominee has fumed that the trial is a "scam" and a "witch hunt" aimed to damage his electoral chances against President Joe Biden.

Persons: Donald Trump, Juan Merchan, Alvin Bragg's, Trump, E, Jean Carroll, defaming, Carroll, Merchan, Sandoval, Joe Biden Organizations: U.S, Manhattan Criminal, New, Manhattan Supreme, Trump, Manhattan Locations: New York City, New York, Manhattan

☆ New York jury convicts man in first-ever cryptocurrency market manipulation case
▼ + stars: | 2024-04-18 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

A New York federal jury on Thursday convicted a Puerto Rico man of a $110 million scheme that was the Department of Justice's first-ever cryptocurrency open-market manipulation case, prosecutors said. The man, 28-year-old Avraham Eisenberg of San Juan, faces a maximum possible sentence of 20 years in prison for the charges of wire fraud, commodities fraud, and commodities manipulation. Prosecutors said Eisenberg fraudulently obtained about $110 million worth of cryptocurrency from the Mango Markets exchange and its customers by artificially and dramatically driving up the price of both futures contracts and the MNGO crypto token, and then borrowing cryptocurrency based on the value of the inflated assets. "When Eisenberg borrowed and withdrew this cryptocurrency, he had no intention of repaying the borrowed funds but rather intended to steal those funds," the Manhattan U.S. Attorney's Office said in a statement when he was indicted in February 2023.

Persons: Avraham Eisenberg, Prosecutors, Eisenberg Organizations: Department of, Mango Markets, Manhattan U.S, Attorney's Locations: York, Puerto Rico, Department of Justice's, San Juan

☆ China's plan for reinvigorating its economy has the West worried, but others still see an opportunity
▼ + stars: | 2024-04-08 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at how China's plan for reinvigorating its economy has the rest of the world worried . The country is overproducing goods and then flooding global markets with them to save its struggling economy, writes Business Insider's Huileng Tan. Decades ago, as the country opened up its economy, China underwent rapid industrialization, allowing it to produce cheap goods. AdvertisementUS Treasury Secretary Janet Yellen has already warned China shock 2.0 could destabilize the global economy, specifically impacting green-energy exports . He pointed to China's GDP growth outpacing the US when the numbers are adjusted for disinflation and inflation in each country, respectively.

Persons: —, Chelsea Jia Feng, Huileng Tan, Huileng, China's, Janet Yellen, Tyler Le, Ray Dalio, that's, it's, Dalio's, Nicholas R, Lardy, Donald Trump, M, There's, Angus Deaton, Walter Huang, Sevonne Huang, Justin Sullivan, Alyssa Powell, Tesla, Hubspot, Mikel Jaso, Zers, That's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Business, West, New York Federal Reserve, Bridgewater Associates, Getty, Apple, Reuters, Google, McKinsey Locations: China, Glendale, Ariz, New York, London, Chicago

☆ Google says crypto fraudsters are making it look bad
▼ + stars: | 2024-04-04 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

Google is suing two crypto scammers it says threatened the integrity of its platforms. Scammers tricked Google Play into hosting 87 fake crypto apps, conning over 100,000 users, Google says. The lawsuit alleges the fraudsters tricked Google into accepting their apps on its app store, Google Play, by misrepresenting their identity, location, and intent. Advertisement"By using Google Play to conduct their Fraud Scheme, Defendants have threatened the integrity of Google Play and the user experience," the lawsuit states. "Defendant's scheme has thus impaired Google users' confidence and trust in Google, its services, and its platforms."

Persons: Scammers, —, Halimah DeLaine Prado Organizations: Google, Service Locations: New York, Shenzhen, China, Hong Kong

☆ Shvartsman brothers plead guilty to insider trading on Trump Media merger plans
▼ + stars: | 2024-04-03 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

"I've made a terrible mistake," Gerald Shvartsman, 46, told Judge Lewis Liman in Manhattan federal court as he pleaded guilty, according to the Associated Press. Michael Shvartsman, 53, and Gerald Shvartsman, who owns a furniture manufacturing company, are scheduled to be sentenced on July 17. Sentencing guidelines recommend that Gerald Shvartsman, who netted about $4.6 million in illegal trading profits, receive a prison term of between 33 and 41 months. Alan Futerfas, a lawyer for Michael Shvartsman, declined to comment on the guilty plea. A lawyer for Gerald Shvartsman did not immediately respond to a request for comment.

Persons: Donald Trump's, Michael Shvartsman, Gerald Shvartsman, DWAC, I've, Judge Lewis Liman, Bruce Garelick, Michael Shvartsman's, Liman, Damian Williams, Alan Futerfas Organizations: Trump Media & Technology Group, Trump Media, Associated Press, Rocket, Manhattan U.S Locations: Florida, New York, Manhattan, Michael Shvartsman's Miami

☆ A group of NY inmates are so desperate to see the upcoming solar eclipse that they're suing to witness the phenomenon
▼ + stars: | 2024-04-02 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +4 min

Read previewA rare solar eclipse will soon cross the United States — and six inmates at a New York prison are so desperate to witness the phenomenon that they're suing the state corrections department over it. Related storiesThe lawsuit argues that the corrections department's decision to lock down its prisons statewide on April 8 "illegally prohibits" the group of inmates from observing the solar eclipse. Though Woodbourne Correctional Facility is not included on that list, an interactive map by NASA shows that the prison will be impacted by the solar eclipse. No inmates will be allowed outside to watch the solar eclipse, according to Mailey. The lawsuit says that the atheist plaintiff was granted a special request to view the solar eclipse, but that was before the lockdown rules were put in place.

Persons: —, they're, Sharon Steinerman, Alston, Bird, Thomas Mailey, Mailey Organizations: Service, Business, of Corrections, Adventist, Department of Corrections, Community Supervision, Woodbourne, NASA Locations: United States, New York, Woodbourne, Sullivan County

☆ China's attempts to revive its economy could cause a 'sugar high' that pushes US inflation higher, new research says
▼ + stars: | 2024-03-25 | by ( Aruni Soni | ) www.businessinsider.com time to read: +1 min

China's attempts to revive its economy could push US inflation higher, new research says. To stimulate its economy, China policymakers are encouraging investments in the manufacturing sector. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . A period of manufacturing-led growth would create a short-term "sugar high," a report from the New York Federal Reserve said. This story is available exclusively to Business Insider subscribers.

Persons: China's, — Organizations: Service, New York Federal Reserve, Business Locations: China

☆ FTX's victims may get all their money back. The judge sentencing Sam Bankman-Fried might not care.
▼ + stars: | 2024-03-24 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +12 min

Sam Bankman-Fried bilked FTX customers out of over $8 billion, according to prosecutors. AdvertisementAccording to federal prosecutors, Sam Bankman-Fried orchestrated one of the biggest criminal frauds in the history of the world. According to his lawyers, FTX's customers might get all their money back. According to prosecutors, Bankman-Fried was responsible for more than $11 billion in fraud overall between FTX customers and investors in FTX and Alameda Research. The recovered calculations, too, distort how much money customers are actually getting back.

Persons: Sam Bankman, —, Fried, FTX, John J, Ray III, Ray, Lewis Kaplan, Kaplan, Sarah Krissoff, Cozen O'Connor, Krissoff, it's, Sarah Silbiger, Bankman, bitcoin, Rachel Maimin, Lowenstein Sandler, Barbara Fried, Mark Cohen, Jane Rosenberg Bankman, Maiman, Maimin, Caroline Ellison Organizations: Service, FTX, Bankman, Alameda Research, US, United States, Second Circuit, U.S . House Financial, Capitol, Reuters, K5 Global, Prosecutors, Wall, REUTERS, Business, of Prisons, Alemda Research Locations: FTX, Manhattan, New Jersey, New York, Washington , U.S

☆ The best- and worst-paying college majors, 5 years after graduation
▼ + stars: | 2024-03-24 | by ( Mike Winters | ) www.cnbc.com time to read: 1 min

If you want to make the most money possible right after college, study to be an engineer. Engineering degrees occupy nine of the top 16 college majors with the highest incomes five years after graduation, a recent New York Federal Reserve study reveals. Computer engineering majors ranked first with an annual median salary of $80,000, followed by chemical engineering and computer science — the only two other majors that earn more than $75,000 annually. They make roughly double that of the lowest-paid majors, which tend to be degrees in the liberal arts or humanities. Here are the 16 highest-paying college majors, five years after graduation:

Organizations: York Federal, Computer

☆ The 16 worst-paying college majors, five years after graduation
▼ + stars: | 2024-03-16 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

All three majors made a median annual income of $38,000, the lowest out of the 75 majors in the study. Other low-paying majors include leisure and hospitality, history, fine arts and psychology, all of which made $40,000 or less per year. With liberal arts degrees, graduates tend to get paid less overall, for various reasons. Education majors tend to be paid less, as well. When looking at "mid-career" graduates — those ages 35 to 45 — education majors are the worst paid among all majors.

Organizations: York Federal, Census, Economic Locations: U.S

☆ Ron Insana: A market shake-up could be around the corner as inflation remains sticky
▼ + stars: | 2024-03-15 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

Here's a question on the minds of investors amid recent hotter-than-anticipated inflation readings and this powerful rally: Are we due for a stock market scare? However, as of late, there have been some early warning signs that the declines in inflation may be slowing. Other areas have also sent up some flags that could adversely affect stocks and bonds in the short run. However, it is unwise to ignore what market signals are suggesting, at least in the short run. But in the short run, we should remain on heightened alert for changes in this year's outlook.

Persons: It's, I'm, John Maynard Keynes, Ron Insana Organizations: Federal Reserve, New York Federal Reserve, West Texas, Atlanta Federal, CNBC, Financial Partners Locations: York

☆ This week provided a reminder that inflation isn't going away anytime soon
▼ + stars: | 2024-03-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

From consumer and wholesale prices to longer-term public expectations, reports this week served up multiple reminders this week that inflation isn't going away anytime soon. Data across the board showed pressures increasing at a faster-than-expected pace, causing concern that inflation could be more durable than policymakers had anticipated. The bad news began Monday when a New York Federal Reserve survey showed the consumer expectations over the longer term had accelerated in February. It continued Tuesday with news that consumer prices rose 3.2% from a year ago, and then culminated Thursday with a release indicating that pipeline pressures at the wholesale level also are heating up. The latest jolt on inflation came Thursday when the Labor Department reported that the producer price index, a forward-looking measure of pipeline inflation at the wholesale level, showed a 0.6% increase in February.

Persons: Steven Blitz, Dow Jones Organizations: New York Federal Reserve, TS Lombard, Labor Department, department's Bureau of Labor Statistics

☆ The 16 highest-paying college majors, 5 years after graduation
▼ + stars: | 2024-03-14 | by ( Mike Winters | ) www.cnbc.com time to read: 1 min

If you're looking for a college degree with maximum earning potential, you'll want to be an engineer. Engineering degrees took nine of the top 16 rankings for college majors with the highest income five years after graduation, according to a recent New York Federal Reserve study of full-time workers. Computer engineering majors ranked first with an annual median salary of $80,000, followed by chemical engineering and computer science — the only two other majors that pay more than $75,000 annually. STEM jobs — science, technology, engineering and mathematics — are expected to grow twice as fast as non-STEM jobs through 2031. Here are the 16 highest-paying college majors:

Organizations: York Federal, Computer

☆ Opinion: What Hunter Biden and Donald Trump have in common
▼ + stars: | 2024-03-13 | by ( Opinion Andrey Spektor | ) edition.cnn.com time to read: +9 min

CNN —Hunter Biden won’t be returning to the spotlight next week as the House Oversight Committee had hoped. The problem with the Hunter Biden investigation, though, is not its potential reliance on the word of a compromised informant. And in that sense, Hunter Biden shares something in common with an unlikely person: Trump, at least with respect to his criminal case in New York. Much like the gun charge against Hunter Biden, the tax indictment has left many former federal white-collar prosecutors like me scratching their heads. That doesn’t mean that Trump or Hunter Biden are innocent; indeed, the former has more serious cases to contend with.

Persons: Andrey Spektor, Bryan Cave Leighton Paisner, CNN — Hunter Biden won’t, James Comer’s, Joe Biden, Andrey Spektor Bryan Cave Leighton, Hunter, Alexander Smirnov, Biden, you’ve, Smirnov, Hunter Biden, –, Donald Trump –, that’s, Trump, Hunter Biden’s Organizations: CNN, Republicans, Biden, Republican, Department of Justice Tax, IRS, DOJ’s Locations: New York

☆ Trump again attacks E. Jean Carroll, as he appeals rape defamation penalties
▼ + stars: | 2024-03-11 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

Donald Trump on Monday once again denied writer E. Jean Carroll's rape and defamation claims against him, despite facing nearly $90 million in civil penalties over similar denials. Carroll sued Trump in New York federal court for defaming her, after he denied the rape claim and accused her of trying to sell books. In 2022, Carroll sued Trump a second time for battery and defamation relating to the alleged rape and a subsequent denial after he left the White House. A federal civil jury last May awarded Carroll $5 million in damages in that case after finding Trump liable for sexual abuse and defamation. In January, another federal civil jury in Manhattan ordered Trump to pay $83.3 million for defaming Carroll through the statements he made as president.

Persons: Donald Trump, E, Jean Carroll's, Trump, Bergdorf Goodman, I'd, Carroll, defaming Carroll Organizations: White, Trump, CNBC Locations: Rome , Georgia, U.S, New York, Manhattan

☆ Long-term inflation expectations rise, spelling possible trouble for the Fed, survey shows
▼ + stars: | 2024-03-11 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

According to a report by the Commerce Department, consumer spending rose 0.8% in July beating expectations of 0.7%. At the three-year range, expectations rose 0.3 percentage point to 2.7%, while the five-year outlook jumped even more, up 0.4 percentage point to 2.9%. All three are well ahead of the Fed's 2% goal for 12-month inflation, indicating the central bank may need to keep policy tighter for longer. Economists and policymakers consider expectations as a key factor in viewing the path of inflation, so the Survey of Consumer Expectations for February could be bad news. "We remain committed to bringing inflation back down to our 2 percent goal and to keeping longer-term inflation expectations well anchored."

Persons: Justin Sullivan, Jerome Powell Organizations: Costco, Commerce Department, Federal Reserve, New York Federal Reserve, Capitol Locations: Novato , California

☆ Co-defendant in Sen. Bob Menendez corruption case pleads guilty
▼ + stars: | 2024-03-01 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Jose Uribe leaves the Federal Court, after a hearing on bribery charges, in New York City, U.S. September 27, 2023. A co-defendant in the criminal corruption case against Sen. Bob Menendez pleaded guilty in New York federal court on Friday and agreed to cooperate with the prosecution of the New Jersey Democrat. Menendez's co-defendant Joe Uribe pleaded guilty to seven counts, including conspiracy to commit bribery, honest services fraud, and obstruction of justice. The other defendants in the case — Menendez, the senator's wife Nadine, and two other New Jersey businessmen — are scheduled to stand trial beginning May 6 in Manhattan federal court. The Clifton, New Jersey, resident and other two businessmen men were accused of having a "corrupt relationship" with Menendez and Nadine Menendez.

Persons: Jose Uribe, Sen, Bob Menendez, Menendez's, Joe Uribe, — Menendez, Nadine, —, Uribe, Menendez, Nadine Menendez, Wael Hana Organizations: New, New Jersey Democrat, Mercedes, Benz, Agriculture Department, Senate Foreign Locations: New York City, U.S, New York, New Jersey, Jersey, Manhattan, Clifton , New Jersey, Egypt

☆ U.S. Treasury yields inch higher ahead of Fed-favored inflation measure
▼ + stars: | 2024-02-29 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the 10-year Treasury yield was up by over one basis point to 4.2915%. The yield on the 2-year Treasury was more than one basis point higher to 4.6643%. U.S. Treasury yields were slightly higher on Thursday as investors awaited the release of the Federal Reserve's preferred inflation measure. Investors looked ahead to the release of the personal consumption expenditures report for January, which could provide clues about the outlook for interest rates. If January's reading comes in higher than expected, markets may take it as a signal that inflation is stickier than previously expected and interest rates could stay elevated for longer.

Persons: Dow Jones, John Williams Organizations: Treasury, U.S, Federal, PCE, New York Federal

☆ Stock futures fall as Wall Street awaits the Fed's preferred inflation gauge: Live updates
▼ + stars: | 2024-02-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stock futures fell as Wall Street weighed the latest earnings results and looked ahead to the Federal Reserve's favored inflation gauge. Futures tied to the Dow Jones Industrial Average slipped 80 points, or 0.2%. The S&P 500 futures and Nasdaq 100 futures edged down 0.2% and 0.25%, respectively. The 30-stock Dow lost 0.06% and fell for a third consecutive session, while the S&P 500 inched down 0.17%. The S&P 500 has jumped 4.6%, while the Dow has added 2.1%.

Persons: Salesforce, Okta, Joe Mazzola, Charles Schwab's, Dow, John Williams Organizations: New York Stock Exchange, Stock, Federal, Dow Jones, Nasdaq, Dow, Hewlett Packard Enterprises, Bath, Body, New York Federal Reserve Bank Locations: Snowflake, Chicago

☆ Sean ‘Diddy’ Combs sued by male producer who alleges sexual assault
▼ + stars: | 2024-02-27 | by ( Lisa Respers France | ) edition.cnn.com time to read: +7 min

Khorram allegedly ordered prostitutes and illicit drugs for Combs and his guests and according to the lawsuit, Jones believed Khorram “aided and abetted” Combs’ sexual assault. “Our attempts to share this proof with Mr. Jones’ attorney, Tyrone Blackburn, have been ignored, as Mr. Blackburn refuses to return our calls. “This was done to ease Mr. Jones’ anxiety concerning homosexuality,” the suit alleges. In a statement to CNN, he called Jones’ allegations “false.”“My lawyer will be handling this going forward,” Stevie J added. Combs was present while Mr. Jones was being assaulted by Cuba Gooding Jr.,” the suit alleges.

Persons: CNN —, Sean “ Diddy ” Combs, ” Rodney “, Rod ” Jones, videographer, Combs, Jones, Combs ’, Kristina Khorram, Sir Lucian Grainge, Justin, Justin Combs, Khorram, Khorram “, abetted ” Combs, “, DeLeon Tequila, Grainge, Habtemarian “, ” Jones, Shawn Holley, Sean Combs, ”, ” Holley, Tyrone Blackburn, Blackburn, “ Justin Combs, Sean, Diddy, Chris Pizzello, Steven ‘ Stevie J ’ Jordan, Stevie J, ’, Oscar, Cuba Gooding, Jr, Mr, “ Mr, ” Gooding, Casandra Ventura, ” Ben Brafman, Ventura, ” Weeks, ” Combs, Rodney Jones, Lucian Grainge, Grainge “ Organizations: CNN, Universal Music Group, Motown, Ethiopia, Khorram, Billboard, Islands, Motown Records, Cuba Locations: New York, Los Angeles

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