DIRS.INFO The most relevant business & tech news

☆ ‘60 Minutes’ rejects Trump’s claims it edited clip for Harris as former president calls for investigation
▼ + stars: | 2024-10-20 | by ( Veronica Stracqualursi | ) edition.cnn.com time to read: +3 min

CNN —CBS’ “60 Minutes” on Sunday rejected former President Donald Trump’s claims that the show edited its interview with Vice President Kamala Harris at her campaign’s direction. “Former President Donald Trump is accusing 60 Minutes of deceitful editing of our Oct. 7 interview with Vice President Kamala Harris. That is false,” the show said in a statement that noted that Trump backed out of his own “60 Minutes” interview earlier this month. “60 Minutes gave an excerpt of our interview to Face the Nation that used a longer section of her answer than that on 60 Minutes,” the statement reads. If he would like to discuss the issues facing the nation and the Harris interview, we would be happy to have him on 60 Minutes,” the show said in its statement.

Persons: Donald Trump’s, Kamala Harris, “, Donald Trump, Trump, Fox’s, Harris, Bill Whitaker, Howard Kurtz, Karoline Leavitt, CBS “, ”, ” Leavitt, Jessica Rosenworcel, Lesley Stahl, ” CNN’s Liam Reilly, Kate Sullivan, Jack Forrest Organizations: CNN, CBS, Sunday, Fox News, GOP, “, Federal Communications, Comcast, NBC News, MSNBC

☆ Fact check: Walz makes false claims about Vance, Trump and Project 2025
▼ + stars: | 2024-09-24 | by ( Daniel Dale | ) edition.cnn.com time to read: +8 min

Two of Walz’s false claims are related to Project 2025, the Heritage Foundation think tank’s detailed right-wing blueprint for the next Republican administration. Project 2025 has been the subject of multiple false or misleading claims from Vice President Kamala Harris’ campaign this summer. Project 2025 does not propose to make people register with any federal agency when they get pregnant. Project 2025 is firmly anti-abortion; it proposes, among other things, to criminalize the mailing of abortion medication and devices. In fact, Vance made the comment before Project 2025 was even created.

Persons: Tim Walz, Sen, JD Vance, Ohio, Donald Trump ., Kamala Harris ’, Walz, Trump, “, ”, ” Walz, Roger Severino, ” –, Walz didn’t, –, Vance, Harris Organizations: Washington CNN, Minnesota Gov, Democratic, Republican, Heritage Foundation, Trump, for Disease Control, Prevention, CDC, Department of Health, Human Services, United States Agency, International Development’s, Gender, “, Women, USAID, ” CNN, Federal, Biden Locations: North Carolina, Wisconsin, Minnesota, Pennsylvania, Raleigh , North Carolina

☆ America’s top central banker says the job market is back to normal. Is that true?
▼ + stars: | 2024-06-16 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Washington CNN —America’s top central banker recently said the job market now looks the way it did before the Covid-19 pandemic drastically upended society. Before the Bell spoke with Julia Pollak, chief economist at jobs site ZipRecruiter, about her views of the job market. Before the Bell: Do you agree with Chair Powell’s view that today’s job market is back to a pre-pandemic normal? Why is the job market slower now? The number of job openings is higher than it was by around 15% or so, but online job postings are actually lower by ZipRecruiter’s count.

Persons: Washington CNN —, “, Jerome Powell, Powell, it’s, Bell, Julia Pollak, they’re, They’re, Olesya Dmitracova, Emmanuel Macron, Read, Patrick Harker, Lisa Cook, Tom Barkin, Susan Collins, Adriana Kugler, Lorie Logan, Alberto Musalem, Goolsbee Organizations: CNN Business, Bell, Washington CNN, Fed, Labor, EU, National, New York Fed, Manufacturing Index, Reserve Bank of Australia, US Commerce Department, Federal Reserve, National Association of Home Builders, Accenture, Kroger, Darden, Bank of England, US Labor Department, Philadelphia Fed, Richmond Fed, Global, National Association of Realtors Locations: Washington, France, Wells Fargo

☆ Menendez defense lawyer denies bribery scheme and says gold bars found at senator’s home belonged to his wife
▼ + stars: | 2024-05-15 | by ( Holmes Lybrand | Gregory Krieg | ) edition.cnn.com time to read: +7 min

Menendez is not running for reelection in next month’s Democratic primary but has said he would consider an independent bid should he be exonerated. “Evidence will show Nadine’s family had a lot of gold,” Weitzman said, asserting that she did not discuss money with the senator and kept financial problems she had from him. Weitzman also said the gold bars were found in Nadine’s locked closet, which the senator didn’t have access to. The potential jurors – an array of New Yorkers, including pastors, a standup comedian and amateur musicians – were pressed on whether they could be unbiased and fairly consider testimony from law enforcement officers or convicted criminals. One potential juror spoke about being a “news junkie” who couldn’t sit on the trial because “I’ve learned about the case significantly.

Persons: CNN — Sen, Bob Menendez’s, “, ” Menendez, Avi Weitzman, Nadine, Menendez, Wael Hana, Fred Daibes, Donald, Lara Pomerantz, “ Robert Menendez, ” Pomerantz, Nadine Menendez, Weitzman, ” “, ”, ” Weitzman, Menendez “, ” Nadine, didn’t, Hana, whittle, “ I’ve, Sidney Stein, they’ve, ” Stein, Bob Menendez, Stein, Robert F, Kennedy Jr, I’m Organizations: CNN, New, New Jersey Democrat, Jersey businessmen, Democratic, United, White House, Egypt’s Ministry of Foreign Affairs Locations: Manhattan, New Jersey, Egypt, Qatar, Jersey, Egyptian American, United States, Lebanon, Paris

☆ Under Half of Illegal Gun Cases Tracked by A.T.F. Were Involved in Black Market Sales
▼ + stars: | 2024-04-04 | by ( Glenn Thrush | ) www.nytimes.com time to read: +1 min

Four in 10 illegal gun cases tracked by the Bureau of Alcohol, Tobacco, Firearms and Explosives were involved in black market sales, including from shadow dealers who used a legal loophole to evade background checks, according to an analysis of firearms trafficking released on Thursday. About another 40 percent of gun investigations initiated by federal officials centered on illegal “straw” purchases made by proxies hired by criminals, or other people prohibited from legally buying weapons for themselves because of drug use or mental illnesses. The report, part of a broader effort by the Biden administration to make public previously undisclosed firearms data, offered an expansive portrait of the country’s growing illegal firearms market — including the origin of weapons and trafficking patterns. investigations from 2017 to 2021 — a period that included the biggest surge in gun violence in decades. But it is likely to undercount more recent developments, such as the rapid proliferation of deadly homemade weapons known as “ghost guns,” federal officials said.

Persons: Biden Organizations: Bureau, Alcohol, Tobacco, Firearms, Explosives

☆ Regional banks were all ‘guilty until proven innocent’ after Silicon Valley Bank, Citizens CEO says
▼ + stars: | 2024-03-10 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +9 min

Other regional bank stocks got slammed: By the end of the day, most saw their stock down by double-digit percentages. Kori Suzuki/ReutersIt’s been exactly one year since that fateful day marked the start of a string of subsequent bank failures. Because of that, “there will be bank failures,” Federal Reserve Chair Jerome Powell warned senators in his semi-annual testimony last week. Bruce Van Saun: People like to call last year’s bank failures regional bank failures. Office real estate is just one component of commercial real estate, albeit the most worrisome to banks and economists.

Persons: Bruce Van Saun, NYCB, Kori Suzuki, Reuters It’s, it’s, Jerome Powell, Van Saun, Richard Drew, didn’t, Michael Nagle, Joseph Otting, Otting, CARLOS BARRIA, we’re, we’ve Organizations: New, New York CNN, Citizens Financial Group, New York Community Bank, NYCB, Reuters, CNN, Signature Bank, Silicon Valley Bank, Citizens Financial, Providence, Financial Group, Bloomberg, SVB, we’re, SoFi, Citizens, OneWest Bank, CIT Group, REUTERS Locations: New York, Silicon, San Francisco , California, Providence , Rhode Island, Covid

☆ Alexander Smirnov told investigators he got Hunter Biden dirt from Russian intelligence officials
▼ + stars: | 2024-02-20 | by ( Hannah Rabinowitz | ) edition.cnn.com time to read: +5 min

CNN —The former FBI informant charged with lying about the Bidens’ dealings in Ukraine told investigators after his arrest that Russian intelligence officials were involved in passing information to him about Hunter Biden, prosecutors said Tuesday in a new court filing, noting that the information was false. They said he previously told the FBI that he has longstanding and extensive contacts with Russian spies, including individuals he said were high-level intelligence officers or command Russian assassins abroad. The story, prosecutors noted, matches the story Smirnov told his handler about Hunter Biden being recorded in a foreign hotel. And, prosecutors wrote, Smirnov claims to have met with Russian intelligence officials as recently as November and December 2023. “He is actively peddling new lies that could impact U.S. elections after meeting with Russian intelligence officials in November.

Persons: Hunter Biden, Prosecutors, Alexander Smirnov, ” Smirnov, David Weiss ’, Smirnov, “ Smirnov, Joe Biden’s, Smirnov’s, Weiss, “ Mr, ”, “, CNN’s Holmes Lybrand, Cheri Mossburg Organizations: CNN, FBI, Prosecutors, House Republicans, ” Prosecutors Locations: Ukraine, Russia, United States, Kyiv, Russian

☆ Anthony Farrer of LA’s The Timepiece Gentleman accused of scamming $3 million from customers
▼ + stars: | 2023-11-15 | by ( Faith Karimi | ) edition.cnn.com time to read: +7 min

According to federal court documents, Farrer’s life started unraveling months before his arrest. His watch business started in Dallas and moved to LAIn court documents, federal agents detailed Farrer’s downfall from luxury watch seller to alleged scammer. Investigators said Farrer pocketed customers’ money from the watch sales and used it to maintain his lavish lifestyle. At times, court documents said, Farrer would send customers pieces that were different from what they’d requested. Court documents state the Rolex actually belonged to another customer who’d given it to Farrer to sell on consignment.

Persons: CNN — Anthony Farrer’s, Farrer, ”, Erica Choi, scammer, “, Anthony Farrer, they’d, who’d, he’d, “ I’ve, I’ve, …, Ciaran McEvoy, he’s Organizations: CNN, Lamborghini, Ducati, Business, YouTube, Office, Central, Central District of, Rolex, US Locations: Beverly Hills, Santa Monica, Las Vegas, Central District, Central District of California, Dallas, LA, Los Angeles, California, South Carolina , Colorado , Texas, Florida, Beverly, Swiss, Texas

LOS ANGELES (AP) — Arson was the cause of a massive weekend fire that charred and indefinitely closed a vital section of a Los Angeles freeway, causing major traffic headaches for hundreds of thousands of commuters, California authorities said. Los Angeles residents were urged to avoid travel to the area Monday and to work from home if possible. Ertugrul Taciroglu, chair of the civil and environmental engineering department at the University of California, Los Angeles, said part of the challenge is how expensive real estate has become. The city and county of Los Angeles in 2020 agreed to provide housing for almost 7,000 people living under freeways and near exit and entrance ramps. Associated Press writer Christopher Weber in Los Angeles contributed to this report.

Persons: Gavin Newsom, “, ” Newsom, Crews shored, Joe Biden, Karen Bass, ” Bass, Newsom, ”, it’s, Shailen Bhatt, we’re, ” Bhatt, Blair Besten, Kristin Crowley, Daniel Berlant, They’ve, Mainak, ” D’Attaray, Ertugrul Taciroglu, ___ Watson, Christopher Weber, McMurray Organizations: ANGELES, Gov, ” LA, Associated Press, Business, Flames, California Fire, Apex Development, Inc, University of California, Transportation Locations: Los Angeles, California, LA, Long Beach, Angelenos, ”, Angeles, Philadelphia, downtown, She’s, —, San Diego, Chicago

☆ Ex-Army sergeant charged with trying to pass US secrets to China
▼ + stars: | 2023-10-06 | by ( Holmes Lybrand | ) edition.cnn.com time to read: +4 min

CNN —A former US Army sergeant who allegedly lived in China for several years was arrested Friday on charges of keeping national defense information and attempting to share it with the Chinese government. If convicted, the two charges Schmidt faces – attempting to deliver national defense information and retention of national defense information – each carry up to 10 years in prison. While in China, Schmidt allegedly created other documents detailing US Army intelligence practices over training, intelligence collection, interrogations methods as well as a hand-drawn diagram of an Army computer network. The former Army sergeant allegedly contacted Chinese companies run by the government there to advertise his services and access to sensitive material. The arrest comes after several members of the US armed forces have been charged this year with retaining or sharing military information with others, including China.

Persons: CNN —, Joseph Daniel Schmidt, –, Schmidt, ”, “, hadn’t Organizations: CNN, US Army, Human Intelligence, Justice Department, ’, Government, Army, US, National Locations: China, California, Beijing, Turkey, San Francisco, Japan

So from that perspective, if I’m DOJ, I’d much rather have a Miami jury pool than a Fort Pierce jury pool,” he added. Given its sprawling geographic size, the district has five courthouses — in Key West, Miami, Fort Lauderdale, West Palm Beach and Fort Pierce. “The bigger issue is going to become, can the Fort Pierce courtroom handle this case? “And if they send it to Miami, how are they going to get the jurors there because technically it’s not a Miami case." In St. Lucie, home to Fort Pierce, he won by only 50.4%, but Republicans have continued to gain ground there, and Florida Gov.

Persons: Donald Trump, boastfully, Trump, ”, Richard Kibbey, “ It’s, Jack Smith's, —, It’s, you’re, Michael Sherwin, “, Fort Pierce, Cannon, David Weinstein, Lucie, Martin, Ron DeSantis, Richard Serafini, ___ Tucker Organizations: MIAMI, Trump, Southern District of, Attorney, DOJ, Fort, Associated Press, Southern, Highlands . Trump, Republicans, Florida Gov, Justice Department Locations: Beach, Florida, Stuart , Florida, Fort Pierce district, Washington, Southern District, Southern District of Florida, Miami, Fort Pierce, Key West, Fort Lauderdale , West Palm Beach, Fort, West Palm, Mar, St, Indian, Okeechobee, Highlands

☆ Offering Few Details, Trump Says He Knows How Republicans Should Approach Abortion
▼ + stars: | 2023-08-31 | by ( Maggie Astor | More About Maggie Astor | ) www.nytimes.com time to read: +1 min

“Yep, that’s what happened to you,” Mr. Trump replied. They’re the radicals. And I think exceptions are very important. You and I talked about that.”Ms. Dixon took a hard line on abortion during her campaign, expressing support for a total ban except in life-threatening emergencies. How, exactly, Mr. Trump wants to approach abortion is not clear.

Persons: Mr, Trump, Ms, Dixon, wasn’t —, “ I’ve, ”, Gretchen Whitmer, — Organizations: Fox, Gov, Democratic, Republican

☆ The Fed's next move after raising rates to fight inflation
▼ + stars: | 2023-08-20 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Some investors are betting on rate cuts as soon as early next year, perhaps on expectations that the economy might soon deteriorate. If unemployment spikes because of higher interest rates, for example, the Fed would likely cut rates to stem job losses under its mandate of maximum employment. The Fed’s tough talk has rattled the bond market, helping push up long-dated yields. In addition to the possibility of cutting rates because of an economic downturn, the Fed could also cut rates if inflation slows too much. “If the Fed sees that inflation goes below the 2% target, they could start decreasing interest rates, but I don’t think they are going to start decreasing interest rates until that happens,” said Eugenio Alemán, chief economist at Raymond James.

Persons: there’s, Rather, Austan Goolsbee, Mike Hackett, they’ve, ”, Eugenio Alemán, Raymond James, Melissa Brown, China’s ‘ Lehman, Laura, Mengchen Zhang, Technology —, Zhongrong, Read, Thomas Barkin, Michelle Bowman, Kansas City Fed’s, Jerome Powell, Christine Lagarde Organizations: CNN Business, Bell, DC CNN, Federal, Federal Reserve Bank of Chicago, Treasury, Nationwide, CNN, Fed, Service, KBC Corporation, Xianheng, Science, Technology, National Association of Realtors, Body, Nvidia, Kansas City, Global, US Commerce Department, Labor Department, Central Bank Locations: Washington, “, China, BJ’s, Abercrombie, Kansas

☆ These environmental laws are making it harder to fight climate change
▼ + stars: | 2023-08-12 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

New Jersey has sued to block New York City's congestion price law using environmental review. The environmental review process has “metastasized well beyond what anyone intended it to be,” Dourado said. “To me, it’s clearly dysfunctional.”Reform effortsThe need to reform the environmental review process has become a bipartisan issue in recent years. Some environmental groups believe these reforms are needed to advance clean energy progress and other goals. While the Environmental Defense Fund supports the Biden administration’s reforms to NEPA, it’s against a draconian rollback of environmental review, he said.

Persons: Michael Nagle, ”, Howard Slatkin, Richard Nixon, Paul Sabin, ” Sabin, Eli Dourado, “, ” Dourado, Elgie Holstein, Bill Clinton, Barack Obama, Donald Trump’s, Joe Biden’s, ” Holstein Organizations: New, New York CNN, Environmental, Bloomberg, Getty Images, Federal, Administration, NEPA, Congress, Democrats, Citizens Housing, Planning, Reform, University of California, Magna Carta, Act, Yale University, “ Public, Big Government, Richard Nixon Presidential Library & Museum, Center for Growth, Utah State University, “, Environmental Defense Fund, Biden Locations: New York, Manhattan, New Jersey, York, Jersey, London, Stockholm, United States, New York City, Berkeley, Minneapolis

☆ Dark and sinister rhetoric drenches right-wing media amid Trump indictments
▼ + stars: | 2023-08-03 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

CNN —Millions of Americans are immersed in a twisted world where language used to describe autocrats is being applied to America’s democratic institutions. The draconian rhetoric, once reserved for the likes of tyrants and dictators, has become commonplace in right-wing media when referring to President Joe Biden and the elected government he leads. It’s all part of a larger trend that has dramatically disfigured the conservative media since Trump ascended to power. Arguably, the rhetoric saturating mainstream right-wing media today is more extreme than the hyperbole used in the weeks leading up to the insurrection at the US Capitol. In those weeks, just like now, right-wing media forces set the stage and gathered the tinder for Trump — who was happy to light a match to the gasoline-soaked kindling gathered before him on January 6.

Persons: Joe Biden, Donald Trump’s, Biden, ”, —, Charlie Kirk, Trump, ” Charlie Sykes, “, aren’t, ” Sykes, leaners, America’s Organizations: CNN, Fox News, Biden, Gestapo, Department of Justice, Department of Injustice, Trump, Democratic, MAGA Media, gestapo, Republican, Trump — Locations: America, American

☆ Ex-Louisiana Trooper Acquitted of Violating Civil Rights of Black Motorist
▼ + stars: | 2023-08-03 | by ( Derrick Bryson Taylor | More About Derrick Bryson Taylor | ) www.nytimes.com time to read: +1 min

A former Louisiana state trooper was acquitted on Wednesday of a charge that he violated the civil rights of a Black man when he repeatedly clubbed him with a flashlight after a traffic stop more than four years ago. The case, involving the former trooper Jacob Brown, drew national attention and outrage after police body-camera footage of the beating emerged. The footage showed Mr. Brown striking Aaron Larry Bowman about 18 times in the head and chest with a flashlight, while Mr. Bowman was pinned to the ground after a traffic stop in May 2019. Bowman of his civil rights after a three-day trial in Monroe, La., about 100 miles east of Shreveport.

Persons: Jacob Brown, Brown, Aaron Larry Bowman, Bowman, “ I’m, Mr Organizations: The Associated Press Locations: Louisiana, Monroe, La, Shreveport

☆ California man convicted for smuggling Byzantine-era Hercules mosaic
▼ + stars: | 2023-07-01 | by ( Zoe Sottile | ) edition.cnn.com time to read: +2 min

CNN —A California man has been convicted for illegally importing an ancient floor mosaic, believed to have been made in modern-day Syria nearly two thousand years ago and valued at almost half a million dollars. The ancient artwork arrived at the port in Long Beach as part of a shipment from Turkey in August 2015. Alcharihi only paid about $12,000 for the antiquity, which an appraisal expert valued at $450,000, according to the US Attorney’s Office. The mosaic weighs a whopping 2,000 pounds and is about 15-feet long and 8-feet tall, according to the release. Alcharihi’s false declarations about the mosaic came just months after the United Nations Security Council passed a resolution condemning the destruction of cultural heritage in Syria.

Persons: Mohamad Yassin Alcharihi, Alcharihi, Prometheus Organizations: CNN, US, Office, United Nations Security, ISIS Locations: Syria, Long Beach, Turkey, Los Angeles

And while Biden’s growing list of Republican challengers differ on many issues, when it comes to the economy, they’re in agreement that Biden failed. In addition, a tight labor market has left many small businesses with ongoing hiring difficulties. Here’s what Biden can take credit for – and what he can’t. In other aspects, the labor market certainly had a boost from Biden’s fiscal policies. Since then, the American workforce has consistently outpaced the pre-pandemic workforce.

Persons: Joe Biden, “, ” Biden, Biden, Jerome Powell, ”, Ben Bernanke, Olivier Blanchard, It’s, it’s, let’s, That’s Organizations: DC CNN, Wednesday, Federal Reserve, –, Congress, American, Manufacturers, Treasury Department, P Global, Institute for Supply Management, Bureau of Labor Statistics, Republicans, Fed, International Monetary Fund, Brookings Institution, Biden, European Central Bank, Federal Reserve Bank of New Locations: Washington, Chicago, American, United States, Ukraine, Federal Reserve Bank of New York

☆ Fact check: Debunking Trump’s blizzard of dishonesty about his federal indictment
▼ + stars: | 2023-06-13 | by ( Daniel Dale | ) edition.cnn.com time to read: +16 min

Washington CNN —Former President Donald Trump has responded to his federal indictment the way he has responded to various other crises – with a blizzard of dishonesty. Here is a fact check of 10 of the indictment-related claims Trump has made since the 37 federal charges against him were unsealed on Friday. Trump and the Presidential Records ActTrump claimed in North Carolina that he had abided by the Presidential Records Act: “And we had a great – we had a wonderful operation, everything by the Presidential Records Act.”Facts First: This is false. The Presidential Records Act says that all presidential records belong to the federal government the moment the president leaves office. Margaret Kwoka, a law professor at The Ohio State University and an expert on information law, said in a Friday email that “any comparison between congressional records and presidential records is an apples-to-oranges comparison.

Persons: Donald Trump, Trump, Joe Biden’s, “, ‘, Walt Nauta, HUNT, ”, Everybody, ‘ We’ve, ’, it’s, Brandon Van Grack, Mueller, Harold Martin “, Lago, Ronald Reagan’s, didn’t, ” Jason R, baselessly musing, –, Justice Department “, Trump’s, Biden, Joe Biden, Jack Smith, Smith, General Merrick Garland, Garland, ” Trump, CNN’s Paula Reid, Margaret Kwoka, “ He’s, Biden “, “ he’s, ” Biden Organizations: Washington CNN, Records, FBI, Trump, Trump In, Justice Department, National Security Agency, National Archives, Records Administration, NARA, Presidential Records, Presidential, Mar, White, New York Times, Biden, University of Delaware, The Ohio State University, Biden – Locations: Georgia, North Carolina, Mar, Lago, United States, Florida, Delaware, Washington

☆ Federal Reserve officials are growing skeptical over suspending rate hikes
▼ + stars: | 2023-05-19 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Some officials are concerned inflation isn’t cooling fast enough, which could prompt an 11th consecutive rate hike when policymakers meet in June. Federal Reserve Board Chair Jerome Powell and former Federal Reserve Board Chair Ben Bernanke (R) participate in a discussion at the Federal Reserve Board building in Washington, DC, May 19, 2023. Saul Loeb/AFP/Getty ImagesEarlier this month, Fed officials voted unanimously to raise the benchmark lending rate by a quarter point to a range of 5-5.25%, while signaling a possible pause ahead. Of course, Fed officials’ thinking on monetary policy could drastically change if the United States defaults on its debt, which could happen as soon as June 1. Fed officials always mention that their views on interest rates largely depend on what economic indicators show, resisting taking an absolute stance on how they will vote.

☆ Nearly half of Americans are nervous about their money in the bank, Gallup survey finds
▼ + stars: | 2023-05-04 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

CNN —Nearly half of American adults say they are concerned about the safety of the money they keep in banks, according to a Gallup poll released on Thursday. Gallup said 48% of US adults say they are concerned about the money they have in banks and other financial institutions, including 19% who are “very” worried. Another 29% said they are “moderately” worried. Most Republicans (55%) and independents (51%) say they are at least “moderately” worried about their money in the bank, but just 36% of Democrats said so. The Gallup survey found that roughly half of Americans with an annual household income below $100,000 are worried, compared with 40% of those with higher income.

☆ Coinbase, crypto industry hope new Supreme Court doctrine is silver bullet
▼ + stars: | 2023-05-01 | by ( Alison Frankel | Thomson Reuters | Alison Frankel Has Covered High-Stakes Commercial Litigation As A Columnist For Reuters Since A Dartmouth College Graduate | ) www.reuters.com time to read: +7 min

But the agency will have to provide a more detailed response if Ripple, Coinbase or crypto groups that have filed friend-of-the-court briefs pushing major questions doctrine arguments manage to pique a judge’s interest. Former Coinbase manager Ishan Wahi expanded on the major questions theory last February in his motion to dismiss the SEC’s insider trading case. Under the major questions doctrine, they said, the SEC does not have the requisite Congressional authority to regulate digital assets. Coinbase’s contention in that paper, released last Thursday, is all-encompassing: The major questions doctrine, according to Coinbase counsel at Sullivan & Cromwell, “forecloses” regulation of the trillion-dollar crypto industry. But if the SEC moves ahead with a case against Coinbase, the major questions doctrine could turn out to be, well, a major question.

On that unredacted form, Kacsmaryk reported owning about $2.9 million in stock in the Florida-based supermarket company Publix. Federal judges are only required to report financial holdings in ranges, and don’t have to provide exact figures. One possible source of the Publix stock Kacsmaryk reported in 2017 is the judge’s grandmother. In 2020 and 2021, less than 4% of officials required to file judicial financial disclosures requested redaction, according to reports from the Administrative Office of the US Courts. In any case, experts said, the judge’s redacted report prevents transparency that litigants deserve.

☆ Today’s good economic news could spell trouble for Americans down the road
▼ + stars: | 2023-03-09 | by ( Christine Romans | ) edition.cnn.com time to read: +3 min

From the labor market to consumer spending to inflation, key readings on the economy have been running hot. Although that might sound like good news for Main Street, it’s a problem for the Federal Reserve. After a spate of stronger-than-expected economic data, buckle up for an intense few weeks of Fed guessing, especially surrounding the tight labor market. The strong labor market means workers are enjoying the best wage growth in years. The next two weeks will serve as a crucial test on how much more medicine the economy needs.

☆ Premarket stocks: SpinCos are the new SPACs
▼ + stars: | 2023-02-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

The parent company may distribute the new company’s stock to its shareholders, allowing them to own shares in both. These smaller, newly formed companies are still in the process of establishing themselves in the market and often have lower profit margins than their parent company. It costs a lot to borrow these days and investors are looking for high profits and value stocks, writes Goldman. The Federal Reserve’s interest rate hikes have added significantly to the cost of government debt. “As we add trillion after trillion to our debt, the problem only gets worse and compounds.

Search resuls for: "” Federal"

25 mentions found