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☆ 5 things to know before the stock market Monday, May 6
▼ + stars: | 2024-05-06 | by ( Michele Luhn | ) www.cnbc.com time to read: +3 min

Feeling optimisticStock futures were higher Monday after ending last week on a positive note in light of a weaker-than-expected jobs report. Last week, the Dow and Nasdaq rose 1.1% and 1.4%, respectively, while the S&P 500 added 0.5%. Buffett's back, all rightWarren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. During the meeting, Buffett also fielded questions from shareholders, opined on the future of artificial intelligence and praised Fed Chair Jerome Powell for his work steering the economy. Final verdictCombination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance.

Persons: Joseph Prezioso, Warren Buffett, Charlie Munger, Buffett, Greg Abel, Jerome Powell, Sam Bankman, Zhao Changpeng, Mike Segar, Benjamin Girette, Changpeng Zhao, Zhao, Justin Sullivan Organizations: Dow, Nasdaq, Traders, Federal Reserve, Disney, Anadolu Agency, Getty, Berkshire, CNBC, Oracle, Berkshire Hathaway's, Paramount, Reuters, Bloomberg Locations: Omaha , Nebraska, Omaha, San Rafael , California

☆ Ecuador’s Attorney General Took on Drug Gangs. Then Chaos Broke Out.
▼ + stars: | 2024-01-13 | by ( Annie Correal | ) www.nytimes.com time to read: +1 min

Just weeks before Ecuador descended into chaos, with prison riots, two escaped criminal kingpins and the brief siege of a television station, the country’s top prosecutor launched a major operation aimed at rooting out narco-corruption at the highest levels of government. The investigation, called “Caso Metastasis,” led to raids across Ecuador and more than 30 arrests. They had been implicated by text chats and call logs retrieved from cellphones belonging to the drug trafficker, who was murdered while imprisoned. When the attorney general, Diana Salazar, announced the charges last month, she said the investigation had revealed the spread of criminal groups through Ecuador’s institutions. She also warned of a possible “escalation in violence” in the days to come, and said that the executive branch had been put on alert.

Persons: kingpins, Caso, ”, Diana Salazar Locations: Ecuador

On Nov. 18, China’s Ministry of Public Security announced that authorities in northern Myanmar had handed over some 31,000 suspects. The Kokang Self-Administered Zone and the Wa Self-Administered Division both share a border with China and are heavily influenced by their bigger neighbor. The Ming family are not the only powerful Kokang families caught up in the drive. Wa police handed 194 Chinese nationals to Chinese authorities on Nov. 28, according to Wa's state media, Voice of Wa State. Others say that China is showing it won't tolerate the scams anymore, regardless of how powerful are the people behind them.

Persons: ”, Lu Jiantang, Jason Tower, Ming, Hu Xijin, ” Hu, Wei Qingtao, they’ll, ” Wei, Liu Zhengqi, Ming Xuechang, Kokang, Yin Masan, MNDAA, cyberscammers, Richard Horsey, “, Bai Suocheng, Li Kyar Wen, It’s, Wanqing Chen Organizations: China’s Ministry of Public Security, U.S . Congress, United States Institute of Peace, Communist Party, China’s Communist Party, CCTV, Global Times, of Public Security, Fully, Wa Construction Ministry, Wa Communist Party, Brotherhood Alliance, Arakan Army, Myanmar National Democratic Alliance Army, National Liberation Army, International Crisis Locations: BANGKOK, China, Myanmar, “, Wa, Kokang, Yunnan, Wa State, Shan, Arakan, cyberscams, Beijing

☆ How El Chapo’s Man in Chicago Became a Police Consultant
▼ + stars: | 2023-11-29 | by ( José De Córdoba | ) www.wsj.com time to read: 1 min

BILLINGS, Mont.—Margarito Flores has the jitters. Once one of the top kingpins in the U.S. for Mexico’s Sinaloa cartel, he is starting a second career—teaching law-enforcement officers how to catch drug traffickers. Slight of build, with short cropped hair, Flores darted back and forth at the front of a stage. About 30 law-enforcement agents from Montana and nearby states leaned in and listened intently.

Persons: — Margarito Flores, Flores darted Locations: Mont, U.S, Sinaloa, Montana

☆ Private equity superstores overstock the shelves
▼ + stars: | 2023-11-08 | by ( Liam Proud | ) www.reuters.com time to read: +8 min

LONDON, Nov 8 (Reuters Breakingviews) - Private equity investors seem happier these days shopping for returns at specialty shops over supermarkets. U.S. private equity funds raised some $240 billion in the first nine months of 2023, according to research outfit PitchBook, 13% less than a year earlier. New York-based CD&R in August raised $26 billion for its 12th-generation private equity fund while Eurocentric CVC managed an even more eye-popping $29 billion in July. A better explanation, from the consultants who advise LPs on where to put their cash, is that private equity supermarkets may be cannibalising themselves. Until they can prove otherwise, the more scattered private equity superstores risk losing more ground to the specialists.

Persons: Clayton, Blackstone, Steve Schwarzman, Marc Rowan, don’t, Rowan, Rob Lucas, Blackstone’s, they’re, Lucas, Jeffrey Goldfarb, Thomas Shum Organizations: Reuters, Rice, CVC Capital Partners, Apollo Global Management, Blackstone Capital Partners IX, “, IX, CVC, Apollo, Blackstone, U.S, Thomson Locations: Dubilier, New York, Blackstone, Asia, Luxembourg, Europe, Americas

☆ Opinion: Trump testifies in court. Nothing has prepared him for this moment.
▼ + stars: | 2023-11-05 | by ( Monica Sarkar | Dennis Aftergut | ) edition.cnn.com time to read: +9 min

On the issue of intent, in last week’s testimony, Donald Trump Jr. and Eric Trump both attempted to shift the blame onto their accountants. First, the judge has already rejected a key route Trump tried to avoid an admission that he intended to defraud the victims. He fined Trump’s lawyers for doing just that. Again, the attorney general wins whether Trump denies it, or whether he doubles down on what the judge has called Trump’s “fantasy world” financial claims. If the past is prologue, Trump likely will continue to deny liability: Blowing smoke is simply in the nature of a narcissist.

Persons: Dennis Aftergut, —, kingpins, Donald Trump, Letitia James, ”, Jack Smith, Fani Willis, James, James ’, Arthur Engoron, Trump, Donald Trump Jr, Eric Trump, Ivanka Trump, Trump’s, Mary ”, ” Trump, don’t, Michael Cohen, brag, there’s, that’s Organizations: Defending American Democracy, CNN, New York, Trump Organization, Trump, US Justice Department, District, Prosecutors, Newsweek, Forbes, Department Locations: Fulton County , Georgia, York, New York, ”

☆ Opinion | The Israel-Gaza War: ‘Innocent Lives Being Lost on Both Sides’
▼ + stars: | 2023-10-31 | by ( ) www.nytimes.com time to read: +4 min

Any nation (including the United States) would react if attacked by a neighboring entity, especially one aiming to destroy it. In attacking Gaza, however, Israel most likely will lose in the American and world court of public opinion — and ultimately could lose United States backing, a disaster for Israel. The substantial increase in antisemitic acts being committed in the United States and other countries contributes to this worrisome dynamic. I care about the innocent lives being lost on both sides. The road to their salvation lies not with reproof of Israel; Israel’s first responsibility is to her citizens.

Persons: Israel, —, Benjamin Netanyahu, Paul Menitoff Stockbridge, ”, Nicholas Kristof, Kristof’s, Mr, Kristof, Matt Tanguay Ann, Nicholas Kristof’s, Israel’s, Sheldon Stohl, Re “ Netanyahu, Bruce Ellerstein, York Matthew Perry, ’ Organizations: United, Israel’s Labor Party, Likud, National Interfaith Initiative for Peace, Central Conference of American, Islamic Locations: Gaza, Iran, Israel, United States, Mass, Matt Tanguay Ann Arbor, Mich, Hope, Sheldon Stohl Beersheba, York

Some Republican contenders for their party's 2024 presidential nomination have turned to a blunt policy proposal to tamp down on crime: killing criminals. Crime, meanwhile, is a greater concern for voters than it has been in previous elections, even as crime trends are mixed. The former president has reiterated previous calls for drug dealers to receive the death penalty, despite legal scholars questioning its constitutionality. For instance, the U.S. Supreme Court holds that the application of the death penalty for crimes that do not result in the death of the victim is generally unconstitutional. In 2008, the court left open the possibility of the death penalty for "drug kingpin activity," though it has never been applied.

Persons: Donald Trump, Jonathan Ernst, Trump, Doug Heye, David Kochel, Ron DeSantis, DeSantis, kingpins, Mike Pence, Pence, Bryan Griffin, they're, Thomas Zeitzoff, Gram Slattery, Nathan Layne, Tim Reid, Ross Colvin, Howard Goller Organizations: Des Moines, Iowa State Fairgrounds, REUTERS, Rights, Republican, Federal Bureau of, Reuters, Trump, U.S, Supreme, American University, Thomson Locations: U.S, Des Moines , Iowa, Mexico, United States, California, Florida, America, Indiana, Washington, Wilton , Connecticut, Los Angeles

☆ What is RICO and why are prosecutors using it against Trump?
▼ + stars: | 2023-08-15 | by ( Jack Queen | ) www.reuters.com time to read: +3 min

The main requirements under the federal RICO law are at least two underlying crimes and participation in a criminal enterprise over a long period of time. WHY ARE PROSECUTORS USING RICO? That means prosecutors would not necessarily have to prove Trump personally broke the law but knowingly coordinated with others who did. RICO cases are inherently more complex because prosecutors must first prove the existence of a criminal enterprise. Prosecutors will need to prove that Trump and his co-defendants worked together towards a common criminal purpose, which is not always as straightforward as proving an underlying RICO crime.

Persons: Donald Trump, Fani Willis, Reba Saldanha, Willis overreached, kingpins, Trump, Rudy Giuliani, Mark Meadows, John Eastman, Jack Queen, Noeleen Walder, Howard Goller Organizations: U.S, Prosecutors, Trump, Republican, REUTERS, Thomson Locations: Georgia, U.S, Fulton County, Windham , New Hampshire, New York

☆ Retailers are shaping a wave of laws to crack down on organized theft — here's how they do it
▼ + stars: | 2023-08-11 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +13 min

Since 2022, at least nine states – six so far this year – have passed laws to impose harsher penalties for organized retail crime offenses. The new and proposed laws aim to deter brazen retail crime and go after the so-called kingpins who lead organized theft groups. But critics say the measures may not actually reduce organized retail crime, and could disproportionately harm marginalized groups. Plus, dozens of states already have organized theft laws on the books and the crime is still increasing, according to trade associations. Retailers and lawmakers say the misdemeanor charges have emboldened theft groups and allowed organized retail crime to spread.

Persons: Scott Olson, Doug McMillon, shoplifters aren't, Adrian Hemond, It's, they're, Chuck Grassley, Catherine Cortez Masto, CORCA, Cortez Masto, Cortez, Grassley, Sen, Anna Moneymaker, David Johnston, Jake Horowitz, Horowitz, criminologists, JC Hendrickson, Hendrickson, it's, cleaver, Manhattan, Manhattan DA Alvin Bragg, Barry Williams Organizations: CNBC, National Retail Federation, Walmart, U.S . Senate, Grassroots, eBay, Target, Coordination Center, Nevada Democrats, Cheyenne High School, Pew Charitable Trust, Justice Action Network, Walgreens, Manhattan DA, New York Daily, Getty Locations: Chicago , Illinois, U.S, Iowa, North Las Vegas , Nevada, Florida, Manhattan , New York, New

☆ Opinion: Trump has dug himself into the deepest possible hole
▼ + stars: | 2023-08-02 | by ( Opinion Michael Gerhardt | ) edition.cnn.com time to read: +9 min

Trump has now been indicted on nearly 80 felony counts and has dug himself into the deepest possible hole. Michael Gerhardt Deborah R. GerhardtThe ramifications of these charges for Trump and the country are enormous. But the third indictment goes further — for the first time — by charging Trump with criminal attempts to undermine American democracy. Each set of indictments tests the country’s commitment to the rule of law, which is the foundation of our democracy. In contrast, as each set of indictments shows, there is an abundance of actual evidence of Trump’s misconduct.

Persons: Michael Gerhardt, Burton Craige, Donald Trump’s, Jack Smith’s, Michael Gerhardt Deborah R, Gerhardt, Trump, Bill Barr, Barr, Jason Miller, ”, Joe Biden, Hunter Biden, Biden, “ you’ll, Chris Christie, Asa Hutchinson, Will Hurd, Theodore Roosevelt, “, fuming Organizations: University of North Carolina School of Law, CNN, Capitol, Trump, Trump’s, Justice Department, Electoral, Republican Party, New, New Jersey Gov, Arkansas Gov, Republican, Twitter Locations: Manhattan, Trump, New Jersey, Arkansas, Texas, Georgia, Atlanta, Michigan, Arizona

☆ AI’s regulation naysayers protest too much
▼ + stars: | 2023-06-21 | by ( Karen Kwok | ) www.reuters.com time to read: +7 min

As venture capitalist Marc Andreessen notes, AI models are made up of codes and algorithms just like other computer programmes. Moreover, AI models’ ability to extrapolate from data at high speed explains why almost every industry is deploying the technology in the hope of boosting productivity. Precisely because AI models can replicate tasks done by humans, it’s harder to spot which is which. The EU’s proposed law advocates placing AI applications into four different buckets. AI systems that could be used to influence voters and the outcome of elections and systems used by social media platforms with over 45 million users are labeled “high-risk”.

Persons: Sam Altman, Marc Andreessen, Joe Biden, Altman, ChatGPT, “, ”, Peter Thal Larsen, George Hay, Katrina Hamlin Organizations: Reuters, Organisation for Economic Co, OECD, Microsoft, Watchdogs, Facebook, Meta, Twitter, Union, Bloomberg, Thomson Locations: EU, China, Canada, India, United Kingdom, United States, Brussels, Paris, Europe

☆ How El Chapo’s sons built a fentanyl empire poisoning America
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +23 min

Headed by Iván, El Chapo’s oldest son, the siblings have emerged as key figures in the Sinaloa Cartel, U.S. and Mexican anti-narcotics officials said. But he was killed in 2008 in Culiacán in a hail of bullets amid infighting between warring factions of the Sinaloa Cartel. The agency in April placed Iván on the list of its 10 Most Wanted Fugitives, joining Jesús Alfredo and Ismael “El Mayo” Zambada, a Sinaloa Cartel legend and El Chapo’s alleged former business partner. They also kidnapped eight soldiers and surrounded military housing where wives and children of Mexican soldiers lived, Mexican officials said. Despite that blow to the Sinaloa Cartel, fentanyl keeps flowing north.

☆ Former Indian lawmaker slain live on TV while in police custody, state restricts gatherings
▼ + stars: | 2023-04-16 | by ( Saurabh Sharma | ) www.reuters.com time to read: +3 min

[1/2] Police officers escort Atiq Ahmed, a former lawmaker in India's parliament, accused in several criminal cases, outside a court in Prayagraj, India, April 13, 2023. A gunman is seen reaching over the shoulders of police to point a pistol at the temple of the former lawmaker, Atiq Ahmed, whose turban is blown off as the gun discharges. Fearing the possibility of violent unrest in the wake of the killings, the Uttar Pradesh government barred gatherings of more than four people across the entire state. He had been wanted in connection to a murder case that was being investigated as part of a wider crackdown into a land mafia operating in Uttar Pradesh. Police in Uttar Pradesh have killed more than 180 suspected criminals during encounters over past six years.

☆ Alibaba hands parched dealmakers a glass half-full
▼ + stars: | 2023-03-30 | by ( Antony Currie | ) www.reuters.com time to read: +4 min

Then New York- and Hong Kong-listed Alibaba (9988.HK) revealed it was creating six independently run businesses. That will keep dealmaking teams busy for months if, as CEO Daniel Zhang envisions, multiple listed companies emerge from the $250 billion parent. And if a breakup is good for Alibaba, they can dust off pitchbooks for its domestic rivals. Follow @AntonyMCurrie on TwitterCONTEXT NEWSAlibaba CEO Daniel Zhang said on March 29 that he hopes multiple listed companies will emerge from the group. “I hope there will be multiple listed companies emerging from the Alibaba system, and that they will continue to nurture their own sons and daughters, and cultivate more listed companies”, Zhang said, according to the South China Morning Post.

☆ A Mexico soccer icon entered politics. Prosecutors say narcos followed
▼ + stars: | 2023-02-03 | by ( Cuernavaca | ) www.reuters.com time to read: +27 min

Regional politicians, officials and military officers gathered in the Morelos state capital of Cuernavaca for breakfast in February 2022 to mark Mexico’s annual Army day. Mexican drug lords have a long tradition of buying off politicians in exchange for government protection of their illicit trade. Attempts to reach two of the alleged drug traffickers in the photo – Figueroa and Irving Solano Vera – were unsuccessful. Prosecutors in April asked the Morelos state congress to impeach Blanco so that he could be stripped of that shield. “He likes me very much because I’m not a politician,” Blanco told Reuters, in reference to the president.

☆ Elon Musk has been in several TV shows and movies over the years. See his 11 cameos from 'South Park' to 'Rick and Morty'
▼ + stars: | 2023-01-28 | by ( Grace Kay | ) www.businessinsider.com time to read: +1 min

Elon Musk has become a media personality in his own right, from his viral tweets to appearances on a slew of TV shows and movies. Elon Musk has been featured in several TV shows and movies over the years. Musk is close friends with Endeavor CEO Ari Emanuel, one of Hollywood's most powerful agents and the inspiration for the character of Ari Gold on HBO's "Entourage." The billionaire is also reportedly friends with comedian Nathan Fielder and the creators of "Rick and Morty," to name a few of his Hollywood connections. Sources: The New York Times, The Wall Street Journal, Insider

☆ Sicilian mafia boss arrested after 30 years on the run — the last of Italy's most-wanted crime lords
▼ + stars: | 2023-01-16 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

Matteo Messina Denaro, the boss of Sicily's Cosa Nostra mafia group, was arrested on Monday. He became a fugitive on Italy's most-wanted list in 1993, tied to a series of murders and bombings. His capture followed the arrests of other crime kingpins who had been on the run for decades. He is the last of Italy's three most-wanted mafia bosses who eluded capture for decades, per Sky News. Mafia "boss of bosses" Salvatore Riina, who spent 23 years as a fugitive, was captured in 1993.

Sept 28 (Reuters) - A federal judge in New York has frozen the assets of dozens of people and entities accused of operating a massive nationwide scheme to distribute counterfeit bottles of Gilead Sciences Inc (GILD.O) HIV drugs, including two alleged "kingpins." HIV drugs accounted for $7.6 billion of Gilead's $12.6 billion revenue in the first half of the year. read moreThe newly added defendants include alleged "kingpins" Lazaro Roberto Hernandez, who was arrested on drug counterfeiting and money laundering charges in June as part of a related federal investigation and remains under house arrest, and Armando Herrera, who lives in Florida. The Foster City, California-based company first announced it was pursuing counterfeiters in August 2021, shortly after filing its lawsuit. read moreIn addition to the alleged kingpins, the case now includes alleged mid-level leaders and a complex web of shell companies, distributors and pharmacies.

☆ A new generation of narcos is rising in Mexico, and they're bringing a new style of music to celebrate their exploits
▼ + stars: | 2022-09-15 | by ( Luis Chaparro | ) www.businessinsider.com time to read: +6 min

A new generation of narcos are taking over in some of Mexico's most powerful criminal groups. They're bringing some changes to the drug trade, including new music to celebrate their exploits. "This music was a consequence of the Sinaloa Cartel's plugs [contacts] in Atlanta, where Trap music first went viral," a Flechas commander told Insider. The songs provide a different — and maybe more accurate — version of what is happening inside Mexico's criminal underworld, Ramírez added. At the top of this new generation of narcos are the "narco juniors" who are following their fathers into the business.

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