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☆ How the House GOP’s Biden impeachment effort fell apart
▼ + stars: | 2024-04-24 | by ( Annie Grayer | Melanie Zanona | ) edition.cnn.com time to read: +14 min

“To me, success is impeachment from the House,” GOP Rep. Brian Mast said. Comer’s co-leads, House Judiciary Chairman Jim Jordan and House Ways and Means Chairman Jason Smith, are also fully behind the work. I don’t think that’s an impeachable offense,” GOP Rep. Jodey Arrington said. Even GOP Rep. Darrell Issa remarked after the first hour of questioning that Hunter Biden was prepared for the interview. There’s an election in seven months from now,” GOP Rep. Nick LaLota, who represents a New York district Biden won in 2020, told CNN.

Persons: James Comer, Joe Biden, –, Comer, Biden, “ Comer, Jesus, Alejandro Mayorkas, Comer –, “, Anna Paulina Luna –, Hunter Biden, it’s, ” Luna, ”, missteps, Brian Mast, Mike Johnson, Comer’s, Jim Jordan, Jason Smith, ” Johnson, Steve Scalise, Elise Stefanik, Kevin McCarthy, ” Bruce Dubinsky, McCarthy, Samuel Corum, Johnson, Jodey Arrington, Darrell Issa, …, Doug LaMalfa, Mayorkas, Tony Gonzales, Austin Scott, ” Comer, Donald Trump, Jordan, doesn’t, There’s, Nick LaLota, Jamie Raskin, Raskin Organizations: Washington CNN —, Republican, CNN, Kentucky Republican, Homeland, Biden, GOP, Republicans, Getty, White, Democratic, ”, Department of Justice Locations: Kentucky, ”, Washington , DC, –, Texas, New York

☆ China's housing bust is happening at 'a historically rapid pace' only seen in the worst collapses of the last 3 decades
▼ + stars: | 2024-02-07 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Most pressing, however, is its real estate trouble, which the International Monetary Fund characterized as a historic bust matching levels only seen in the worst collapses of the last three decades. AdvertisementYears of overreliance on real estate as an engine of the economy has led to a buildup of risks, the researchers said. Now, Beijing must clean up distressed developers like Evergrande and Country Garden, support falling real estate prices, and figure out how to put the sector on a more sustainable path. The collapse has transpired at "a historically rapid pace only seen in the largest housing busts in cross-country experience in the last three decades," researchers said. "Large public subsidies in the previous decade helped millions of people move to newer housing from older buildings lacking modern amenities.

Persons: Henry Hoyle, Sonali Jain, Chandra, homebuyers Organizations: International Monetary, Business, Housing, IMF Locations: Beijing, China

☆ NY AG sues Citibank for failing to protect customers from fraud
▼ + stars: | 2024-01-30 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —New York Attorney General Letitia James filed a lawsuit against Citibank on Tuesday, alleging the big bank failed to do enough to protect and reimburse victims of fraud. The lawsuit argues that New York customers lost millions of dollars — in some cases their entire lifesavings — to scammers and hackers because of Citi’s weak security and anti-fraud measures. According to the NY AG, Citi does not do enough to prevent unauthorized account takeovers, illegally refuses to reimburse fraud victims and “misleads” customers about their rights after their accounts are hacked. “Our actions have reduced client wire fraud losses significantly, and we remain committed to investing in fraud prevention measures to help our clients secure their accounts against emerging threats,” the Citi spokesperson said. Last year, federal regulators alleged Citi illegally discriminated against Armenian Americans for years, singling them out on credit card applications based on their last names.

Persons: Letitia James, “, Banks, James, “ Banks, ” Organizations: New, New York CNN — New York, Citibank, NY AG, Citi, Court, Southern, of, AG, “ Citi, CNN, Armenian Locations: New York, of New York

☆ The IPO market should pick up in 2024. Here are the hottest companies set to make their debut
▼ + stars: | 2024-01-20 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

After a tepid year in the IPO market, investors are hopeful 2024 will bring about a return to form. But the IPO market cratered in 2022 after the Federal Reserve's aggressive rate hiking campaign collapsed investor demand for growth stocks. But happier days could be ahead for the IPO market in 2024. According to Linqto's 2024 IPO Sentiment Survey released Thursday, only a little more than half, 52%, of 2,500 traders polled are anticipating a significant recovery in the IPO market this year, suggesting "cautious optimism" ahead. "There's a lot more optimism for the IPO market," said Akshata Bailkeri, head of research at EquityZen, a platform for pre-IPO activity.

Persons: Akshata Bailkeri, Bailkeri, Wilson, EquityZen's Bailkeri, Shein, Shein confidentially, Reddit, that's, Andrew Low Ah Kee, Low Ah Kee, Ah Kee, Skims Skims, Kim Kardashian, Andy Muir, Muir, Jordan Brand, Amer, Roxanna Islam, Troy Gayeski, Gayeski, EquityZen's Organizations: Robinhood, Ford, Amer Sports, CNBC, U.S, Reuters, National Football League, Commerce, Nike, Wilson, FS Investments, U.S . Census, World Bank Locations: Snowflake, IPOs, Silicon, China, Opendoor, U.S

After college, Sheffield worked for Amoco Corp and later joined his father-in-law's oil company and became CEO five years later. That company would become Pioneer Natural Resources. On his return, he made Permian oil its sole focus: putting natural gas processing, oilfield services and South Texas shale assets on the block. He also embraced an emerging philosophy that emphasized shareholder returns over rapid production gains, rejecting a plan to more than quadruple Pioneer's oil production by 2026. Two of Sheffield's most significant insights were the major role technology would play in reshaping U.S. oil production and the recognition that big oil companies would eventually control the Permian, he said.

Persons: Scott Sheffield, Eduardo Munoz, Texas oilman Scott Sheffield, Dan Pickering, Sheffield's, Bryan Sheffield, Scott, Boone, Daniel Yergin, Sheffield, Darren Woods, he's, Doug Sheridan, He's, Bruce Vincent, Bryan, Arathy Somasekhar, Gary McWilliams, Marguerita Choy Organizations: Natural Resources Company, REUTERS, Rights, Natural Resources, Sheffield, Exxon Mobil, Pickering Energy Partners, SCHOOL Oil, Atlantic Richfield Co, Tehran school's American, Formentera Partners, Amoco Corp, Energy, Exxon, DoublePoint Energy, EnergyPoint Research, Swift Energy, Thomson Locations: New York, Texas, U.S, TEHRAN, Atlantic Richfield, Iran, Tehran, West Texas, Boone Pickens, South Texas, Sheffield, Houston

"I'm very, very lucky because I wouldn't have had the courage to go and do that acquisition, but I give all the credit in the world to Dave Clark," Petersen said. "There's a perfect complement of skill sets," Petersen told Forbes in June 2022. Petersen told Clark he should engage with Shopify's team, according to a person with direct knowledge of the negotiations. Clark, Petersen and Wagers met in Texas in mid-August to fine-tune the forecasts. Flexport told CNBC that an employee's politics are not relevant in personnel decisions.

Persons: Dave Clark, Ryan Petersen, he'd, Petersen, Clark, excoriated Clark, we've, Clark wasn't, Jeff Bezos, It's, Flexport, Clark overspent, Flexport's, He'd, Sanne Manders, Dave, Shopify, Tobias Lutke, Lutke, Shopify's, glanced, didn't, Fund's Trae Stephens, Michael Ronen, SoftBank, Andreessen Horowitz, Bob Swan, Samyukta Lakshmi, Kenny, Stuart Leung, pare, Leung, —, Lindsey Wasson, Clark's, Stephens, Peter Thiel, Trump's, Petersen's, Sen, Joe Manchin, Chris Ferro, Ferro, Parisa Sadrzadeh, couldn't, Amazon, Sadrzadeh, Burak Yolga, Yolga, Nelly Organizations: North, Amazon, Twitter, CNBC, UPS, FedEx, Milken Institute Global Conference, Bloomberg, Getty, Forbes, Deliverr, Shopify's, Anduril Industries, Intel, Intel Corp, U.S ., Clark, Republican, Founders Fund, Democratic, Street Journal, Flexport Locations: Phoenix, Silicon, Clark, Beverly Hills , California, U.S, Flexport, Deliverr, Miami, Flexport's Bellevue , Washington, Bengaluru, India, Flexport's, Asia, U.S . West Coast, Texas, Ohio, Arizona, Thiel's, West Virginia, Seattle, integrations

☆ Iran’s president defends uranium enrichment after Europeans ‘trampled on their commitments’
▼ + stars: | 2023-09-24 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +7 min

They (European states) trampled upon their commitments,” Raisi told CNN’s Fareed Zakaria in New York on the sidelines of the UN General Assembly this week. Nuclear power, which Iran says is the purpose of its nuclear program, requires uranium to be enriched to 3% to 5%. There is also concern that if Iran’s nuclear program is not kept in check, it could lead to further nuclear proliferation in the Middle East. The agreement capped Iranian uranium enrichment at 3.67% in exchange for sanctions relief. “Now, you see that the Iranians and the Americans have reached an understanding that has toned down Iran’s nuclear program, in which Europe played no role,” Vaez said.

Persons: Ebrahim Raisi, ” Raisi, CNN’s Fareed Zakaria, Saudi Arabia’s Crown Prince Mohammed bin Salman, Donald Trump, Ali Vaez, ” Vaez, Iran hasn’t, “, ” Organizations: CNN, “, UN, Assembly, International Atomic Energy Agency, IAEA, Reuters, Saudi Arabia’s Crown, European Union, US, Group, Tehran, ”, Iran’s, Agency, Crisis Locations: New York, Islamic Republic of Iran, Iran, Natanz, Tehran, Israel, East, United States, Washington, …, “, Islamic Republic, ” Tehran, France, Germany, United Kingdom, Europe, Qatar

REUTERS/Andrew Kelly/File Photo License this content on Reuters ConnectNEW YORK, Aug 1 (Reuters) - LensCrafters agreed to pay $39 million to settle a lawsuit by prescription eyeglass customers who accused the eyewear chain of misleading them about how well its Accufit technology could measure their eyes. Customers said the claims were false because LensCrafters' manufacturing processes did not support its claims, and that an update would not be clinically significant. They claimed to pay more for their glasses than if LensCrafters had not overpromised and underdelivered. The settlement covers all U.S. customers of LensCrafters who since Sept. 5, 2013, bought prescription glasses after being fitted with Accufit. LensCrafters said it operates 955 stores in 49 U.S. states, Washington, D.C., and Puerto Rico, with no stores in Wyoming.

Persons: Andrew Kelly, LensCrafters, Accufit, Allegra et, Jonathan Stempel, Jonathan Oatis Organizations: EssilorLuxottica SA, REUTERS, Reuters, Customers, D.C, Retail, Court, Eastern District of, Thomson Locations: Manhattan , New York City, U.S, Brooklyn, New York , California, Florida, Washington, Puerto Rico, Wyoming, Paris, Charenton, Pont, America, Eastern District, Eastern District of New York, New York

But Mr. Ramaswamy, now 37, made a fortune anyway. The core company Mr. Ramaswamy built has since had a hand in bringing five drugs to market, including treatments for uterine fibroids, prostate cancer and the rare genetic condition he mentioned on the stump in Iowa. Mr. Ramaswamy’s resilience was in part a result of the savvy way he structured his web of biotechnology companies. He’s a sort of a Music Man,” said Kathleen Sebelius, a Democrat and former health secretary during the Obama administration who advised two of Mr. Ramaswamy’s companies. For his part, Mr. Ramaswamy said that criticism that he overpromised was missing the point.

Persons: Ramaswamy, ”, Kathleen Sebelius, Obama, overpromised Organizations: Democrat Locations: Iowa

☆ Tesla's shares are up over 70% this year. One market pro is bullish — but another isn't convinced
▼ + stars: | 2023-04-11 | by ( Zavier Ong | ) www.cnbc.com time to read: +5 min

Shares of electric vehicle giant Tesla have risen more than 70% this year, after falling 65% in 2022 in its largest-ever annual decline. Bull vs. bear Ross Gerber, president and CEO of Gerber Kawasaki Wealth Management, is an unabashed Tesla bull. Gerber is excited about the prospects for Tesla's first pickup truck — the Cybertruck — which is expected to begin production by end-2023. Tesla cannot be the EV leader without cutting prices, Bido added. One of the most important components of an EV is the battery, and Gerber said Tesla is a leader in battery technology.

☆ Deel Speed: The inside story of a $12 billion HR startup's breakneck growth
▼ + stars: | 2023-03-20 | by ( Rob Price | ) www.businessinsider.com time to read: +32 min

Insider spoke with more than 30 current or former Deel workers about the HR company's extraordinary rise, and the unconventional tactics that made it possible. "I think if you talk to anyone, they would say that Alex is the face but all decisions run through Phillipe," one former Deel worker told Insider. "They lose every employment and labor protection," Valerio De Stefano, a professor at Osgoode Hall Law School, said of independent contractors. Alex Bouaziz, Deel on Centre Stage during day two of Collision 2022 at Enercare Centre in Toronto, Canada. The company didn't have an internal human-resources team until sometime in 2021, by which point it had grown to hundreds of people.

☆ Oath Keepers: Second seditious conspiracy trial against Oath Keepers begins with opening statements
▼ + stars: | 2022-12-12 | by ( Hannah Rabinowitz | ) edition.cnn.com time to read: +7 min

The Justice Department prosecuted the first Oath Keepers seditious conspiracy case earlier this fall with mixed success – two leaders, including Oath Keepers founder Stewart Rhodes, were convicted of the charge while three others were acquitted. That adjustment was on full display Monday, as prosecutor Troy Edwards delivered his opening argument to the jury. Prosecutors struggled at times during the first trial to explain whether Rhodes directly ordered his militia to enter the Capitol building. Rhodes told them it was now time to take their place in history,” Edwards said. When the Oath Keepers heard that the Capitol had been breached, Edwards said they hustled toward the chaos.

☆ Insiders say Elemy often couldn't deliver on its promise to provide quick access to autism care
▼ + stars: | 2022-10-16 | by ( Jordan Parker Erb | Spriha Srivastava | ) www.businessinsider.com time to read: +4 min

On the agenda today:But first: Senior healthcare reporter Shelby Livingston is giving us a behind-the-scenes look at her reporting on Elemy, a startup that insiders say often failed to provide the quick access to autism care that it had promised. This week, I reported how SoftBank-backed Elemy aimed to transform autism care — but insiders say the $1.15 billion startup overpromised on its capacity to treat kids. More than 20 former and current employees spoke with me for this story. After an initial assessment, Elemy told them they'd be in therapy in no more than eight weeks. Here's what Compass insiders told us.

☆ SoftBank-backed Elemy aimed to transform autism care. But current and former employees say the $1.15 billion startup overpromised on its capacity to treat kids.
▼ + stars: | 2022-10-11 | by ( ) www.businessinsider.com time to read: +18 min

Elemy, a $1.15 billion startup, promised families and healthcare providers quick access to autism care for kids. The current and former Elemy employees who spoke to Insider for this story requested anonymity because they feared retaliation from the company. ABA therapy, while somewhat controversial, is the most widely used treatment to teach kids with autism new skills and discourage challenging behaviors. At the direction of leadership, Elemy employees on the business-development team told those organizations to send their kids with autism, according to four former employees directly involved in forming referral relationships. Each ABA company performs its own expensive, time-consuming behavior assessments, and some insurers pay for only one assessment every six months, he said.

☆ Tesla’s ‘full self-driving’ isn’t worth $15,000, say many who bought it
▼ + stars: | 2022-09-07 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —Tesla’s price for the feature it calls “full self-driving” has increased again. CNN Business spoke with 13 people who have cars with the “full self-driving” beta and the overwhelming majority, 11 people, said they felt it wasn’t worth $15,000. Moody said he expects consumers to pay for the monthly subscription of “full self-driving” rather than pay $15,000 for the promise of the feature’s future potential. Burke spoke with CNN Business during a multi-month road trip around the United States. Burke said that if he was in the market again for a Tesla, the $15,000 price for “full self-driving” would be worth it to him.

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