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☆ Life insurers binge on US financing aimed at helping housing
▼ + stars: | 2023-12-05 | by ( Koh Gui Qing | ) www.reuters.com time to read: +8 min

It has been predominantly used by life insurers, because they need to boost their investment returns with cheap funding to meet long-term liabilities. They provide the cheap funding to banks and insurers in exchange for collateral to ensure they get their money back. Insurers are entitled to tap FHLB funding. Insurers’ borrowing from FHLBs picked up in 2008 financial crisis, as those that spread themselves thin with aggressive investments scrambled for cash. They did not explain why insurers need FHLB funding to invest in mortgages.

Persons: Sarah Silbiger, Ryan Donovan, CMBS, Lawrence White, White, Graphics JUICING, Cynthia Beaulieu, Cornelius Hurley, Hurley, FHLBs, ’, Michael Ericson, Jack Dolan, Koh Qui, Greg Roumeliotis, Anna Driver Organizations: REUTERS, Loan, Federal Housing Finance Agency, of Federal Home Loan, FHLBs, FHLB, National Association of Insurance, New York University, MetLife Inc, Equitable Holdings Inc, Corebridge, Brighthouse Financial, MetLife, TIAA, Equitable, Graphics, Wellington Management, Boston University School of Law, Coalition, Silicon Valley Bank, First, American, of, Insurance Coalition, Reuters, Thomson Locations: Washington , U.S, U.S, Boston, Silicon, First Republic, Chicago, New York

☆ Georgia will be first US state where pharmacies sell medical cannabis
▼ + stars: | 2023-10-20 | by ( Jen Christensen | ) edition.cnn.com time to read: +8 min

CNN —For the past year and a half, medical cannabis company CEO Gary Long has spent a lot of his time reassuring Georgia’s small-town mayors about what will soon be coming to their local pharmacy: medical marijuana. The Georgia Board of Pharmacy is currently processing applications from pharmacies around the state that want to sell low-dose THC products. National chains such as CVS and Walmart won’t be selling THC products in Georgia, but Long said 130 local pharmacies have already agreed to sell his product exclusively. Making medical cannabis so accessible in such a traditionally conservative Deep South state like Georgia caught some by surprise. Californians have been able to buy medical cannabis since 1996 and adults there got the right to use it recreationally in 2016.

Persons: Gary Long, that’s, ”, Long, Coke, Andrew Turnage, Jimmy Kimmel, “ I’ve, ” Long, Jonathan Marquess, ” Marquess, it’s, Jay Wexler, “, Brian Kemp, Marquess ’, Marquess, there’s, ” Turnage, Aaron Smith, ” Smith, Dr, Sanjay Gupta, Turnage, I’ve Organizations: CNN, Botanical Sciences, Georgia, of Pharmacy, CVS, Walmart, Medical Cannabis Commission, Georgia General Assembly, US Drug Enforcement, Boston University School of Law, Justice, Gov, Pharmacy, Georgia Pharmacy Association’s Academy of Independent Pharmacy, National Cannabis Industry Association, Get CNN, CNN Health Locations: Georgia, United States, Connecticut, Massachusetts

☆ Fact Check-Trump not facing death penalty in Jan. 6 federal indictment
▼ + stars: | 2023-08-18 | by ( Reuters Fact Check | ) www.reuters.com time to read: +5 min

Elizabeth Moore, VP of PR and Communications at Breitbart, told Reuters, “We never indicated that the DOJ is seeking or will seek the death penalty. “The Eighth Amendment rules out the death penalty unless the defendant intended or had a high degree of culpability with respect to the death of the victim. “Nor does it plead any of the aggravating factors -- from a list in the federal death penalty statute --that need to be specified. When seeking the death penalty, the indictment must include special findings as detailed in the DOJ’s Justice Manual (here). Donald Trump is not facing the death penalty in the federal indictment brought by Special Counsel Jack Smith on overturning the 2020 election.

Persons: Donald Trump, Trump, Jack Smith, Fani Willis, “, Breitbart, Smith, Jack Smith’s, Elizabeth Moore, ” Moore, Joel Pollak, ” Daniel Richman, Paul J, Kellner, ”, Jack Beermann, Philip S, Beck, Peter Carr, Read Organizations: U.S, U.S . Department of Justice, U.S . Capitol, TRUMP, “ TRUMP, “ Trump, Communications, Breitbart, Reuters, DOJ, Trump, U.S ., Capitol, USC, Columbia Law School, Justice Department, Boston University School of Law Locations: Washington, Georgia, Fulton County, GEORGIA, Prison, U.S

☆ 401(k) plans have never been hotter. That’s changing the stock market
▼ + stars: | 2023-06-21 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

The bill, signed into law late last year, requires employers to automatically enroll all eligible workers into their retirement plans at a savings rate of 3% of salary. Americans had pension plans, Social Security benefits, and their own savings through plans like the 401(k). Those funds tend to be controlled by large asset managers. But through a process called proxy voting, large asset managers are able to vote on shareholder resolutions on behalf of their clients. Asset managers have “significant influence over company practices,” wrote shareholder advocacy group ShareAction in a recent report.

Persons: New York CNN —, That’s, ”, Dave Stinnett, What’s, ShareAction, Tesla, Torsten Slok Organizations: CNN Business, Bell, New York CNN, BlackRock, Vanguard Group, Fidelity Investments, Street Global Advisors, Vanguard, Social Security, Social, Social Security Agency, Security, Lawmakers, Blackrock, Fidelity, Boston University School of Law, Harvard Law School, Vanda Research, EV, Apollo Global Management Locations: New York, United States

☆ Warner Bros. Discovery CEO David Zaslav gets booed during commencement speech: 'Pay your writers!'
▼ + stars: | 2023-05-22 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +2 min

Discovery CEO David Zaslav was met with boos and shouts during his commencement speech. Zaslav was speaking at Boston University, where some graduates stood up and turned away from him. Discovery CEO David Zaslav returned to his alma mater to deliver its 2023 commencement speech — and was met with boos amid the writers' strike in Hollywood. The AP reported that a plane with a banner reading, "David Zaslav — pay your writers." Discovery CEO David Zaslav while he delivered the #BU2023 commencement address."

☆ The Optimist’s Guide to Artificial Intelligence and Work
▼ + stars: | 2023-05-20 | by ( Sarah Kessler | Ephrat Livni | ) www.nytimes.com time to read: +2 min

Brynjolfsson and his co-authors of a study compared the call center employees who used the tool to those who didn’t. Customer sentiment was also higher and employee turnover lower in the group that used the tool. “That offers an opportunity to enable more workers to do valuable work that relies on some of that expertise,” he said. tool for some tasks may free up workers to expand their work on tasks that can’t be automated. Of course, there’s no guarantee that workers will be qualified for new jobs, or that they’ll be good jobs.

Postal Service for alleged religious discrimination is set for U.S. Supreme Court review on April 18, poses in an undated handout image taken at an unknown location. Postal Service over his refusal to work on Sundays gives the Supreme Court another chance to widen religious rights but also has led to a debate over whether religious people are more legally deserving than others to weekend days off from work. The court, with its 6-3 conservative majority, has a track record of expanding religious rights in recent years, often siding with Christian plaintiffs. The Postal Service in 2013, in a bid to remain profitable, contracted with Amazon.com to deliver packages, including on Sundays. His absences caused tension among other carriers who had to cover his shifts, the Postal Service said.

☆ Fed up with facial recognition cameras monitoring your every move? Italian fashion may have the answer
▼ + stars: | 2023-01-16 | by ( Elliott Gotkine | ) edition.cnn.com time to read: +7 min

Facial recognition software immediately identifies the man as … a giraffe? While there, she read about how tenants in Brooklyn had fought back against their landlord’s plans to install a facial recognition entry system for their building. “This was the first time I heard about facial recognition,” she says. Whichever route they took, they had to test the images on a well-known object detection system called YOLO, one of the most commonly-used algorithms in facial recognition software. At the recent World Cup in Qatar, creative agency Virtue Worldwide came up with flag-themed face paint for fans seeking to fool the emirate’s legion of facial recognition cameras.

The Supreme Court is scheduled to hear arguments in the two cases on Monday, with rulings due by the end of June. Blum's goal is for the Supreme Court to overturn its own precedents allowing race as a factor in admissions. Blum raised more than $8 million from 2015 to 2020 for Students for Fair Admissions, most going to covering legal fees. No Students for Fair Admissions members served as plaintiffs or testified in court in the Harvard and UNC cases as the group lost in lower courts. The Supreme Court in January agreed to hear appeals backed by Blum in both cases.

☆ Senator Ted Cruz says that transporting migrants is illegal, but commends GOP governors for it anyway
▼ + stars: | 2022-09-18 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +4 min

Ted Cruz praised GOP governors for transporting migrants to Democratic areas. The legality of governors transporting migrants is murky, legal experts have said. Greg Abbott transporting migrants to Democratic areas such as Martha's Vineyard in Massachusetts and Washington DC. Ron DeSantis speaks during a press conference held at the Cox Science Center & Aquarium on June 08, 2022 in West Palm Beach, Florida. The law is unclear on the legality of governors' transporting migrants, The Washington Post said, with legal experts saying not enough information is known to draw conclusions.

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