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☆ Singapore Airlines turbulence incident offers a lesson to all in the business, says Emirates president
▼ + stars: | 2024-06-03 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

The recent Singapore Airlines turbulence incident and how the aftermath was handled offers a lesson to all in the industry, Emirates President Timothy Clark said. A Singapore Airlines flight encountered severe turbulence on its way from London to Singapore last month, leaving one person dead and several injured. The flight was forced to land in Thailand and preliminary investigation showed that the plane dropped 54 meters (178 feet) in less than five seconds. "No airline could have done more to try and - one, address the issue, and two, deal with the consequences than Singapore did," he said. Pilots engaged controls in an attempt to stabilize the aircraft while gravitational forces were fluctuating, according to the investigation report, which also noted that seat belt-fastening signals were switched on as the incident unfolded.

Persons: Timothy Clark, Clark, CNBC's Dan Murphy Organizations: Emirates, Singapore Airlines, International Air Transport, Pilots Locations: Singapore, London, Thailand, Dubai

☆ Dr Pepper just passed Pepsi as the second biggest soda brand
▼ + stars: | 2024-06-03 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +2 min

But the runner up spot, long held by Pepsi, now belongs to Dr Pepper. Dr Pepper and Pepsi both had 8.3%, with Dr Pepper technically ahead. For years a regional favorite, Dr Pepper in the 1970s marketed itself to a national audience as a unique flavor. The addition was “a standout success,” Timothy Cofer, CEO of Dr Pepper parent company Keurig Dr Pepper, said during an analyst call in April. Unlike Coca-Cola and Keurig Dr Pepper, Pepsico has a massive food business — its sprawling portfolio includes Quaker, Frito-Lay and more.

Persons: Coke, Dr Pepper, Dr Pepper inched, ”, Duane Stanford, Pepper, ” Timothy Cofer, Stanford, “ They’re, ” Stanford Organizations: New, New York CNN, Pepsi, Beverage Digest, Coca, CNN, Cola, Pepsico Locations: New York, America, United States, Waco , Texas, American

☆ Opinion: Trump verdict is a pyrrhic victory for Democrats
▼ + stars: | 2024-05-30 | by ( Opinion Cnn Contributors | ) edition.cnn.com time to read: +14 min

CNN —CNN Opinion asked our contributors to weigh in on Trump’s conviction on 34 counts of falsifying business records. Are there really that many voters whose view of Trump as a man, or politician, could be altered by bookkeeping irregularities? How many would-be Trump voters will be swayed against him because of miscategorized business expenses? Instead of validating Trump’s narcissism, Democrats should turn the camera away from Trump and toward the American people. Democrats should make the case that Trump’s policies would decimate the middle class and that ought to be a (metaphorical) crime.

Persons: Patrick Brown, Patrick T, Brown, —, Trump, Attorney Alvin Bragg, ”, Biden, Robert De Niro, Stacy Schneider, Rikers Stacy Schneider, Juan Merchan, Donald Trump, I’ve, Trump’s, There’s, ” Timothy C, Tim Parlatore Tim Parlatore, Michael Cohen’s, Karen McDougal, Daniels, today’s, Timothy C, Paul Begala, ’, Roe, Wade, kowtowing, Vladimir Putin, Bill Clinton’s, Clinton, Jennifer Rodgers, Judge Juan Merchan, Prosecutors, Donald Trump’s, Merchan, Will, it’s, they’d, he’d, “, Joey Jackson, Donald, Michael Cohen, Cohen, Cohen’s Organizations: CNN, Progressives, Trump, haven’t, Attorney, Republicans, Public Policy Center, Economic, Parlatore Law, LLP, Navy, Paul Begala CNN, Social Security, Democratic, Manhattan, NYU School of Law, Columbia Law School, Republican Party, GOP, Team Trump Locations: Manhattan, Washington , DC, New York, Trump, Russian

☆ US soldiers say running high-stress artillery ops deep in the ever-changing Arctic is unlike anywhere else
▼ + stars: | 2024-03-05 | by ( Chris Panella | ) www.businessinsider.com time to read: +8 min

Read previewDeep in the Arctic, US troops are training to conduct difficult and high-stress artillery operations in challenging cold-weather conditions. The challenges, soldiers told Business Insider, come from the freezing temperatures, harsh weather, and unpredictable ground conditions. "There's a lot more than goes into it, especially in the Arctic environment, than the rest of the world," Sgt. Soldiers with 2nd Battalion, 11th Field Artillery, 25th Infantry Division work with M119 Howitzers to enhance their basic artillery skills on Schofield Barracks, Hawaii, June 14, 2020. Troops are being proactive rather than reactive, they told BI, looking for new or alternative firing positions in real time.

Persons: —, Zachary, Paige Behringer, Brandon Vasquez USARPAC, Charles A, Flynn, Abreanna Goodrich, Poole, Timothy Crumpler, Mike Godinez, Martinez, they're, it's, Zachary Tousignant, Stephanie Snyder It's, Tousignant Organizations: Service, Business, Zachary Poole, Artillery, Army, Pacific Multinational Readiness Center, 11th Airborne Division, 2nd Battalion, 15th Field Artillery Regiment, 2nd Brigade Combat Team, Division, Fort Drum , New York . U.S, Staff, U.S, 1st Infantry Brigade Combat Team, Airborne Division, Pacific Multinational Readiness, US Army, BI, U.S . Army, Donnelly Training, Spc, U.S . Army Spc, Co, Battalion, 509th Parachute Infantry Regiment, 2nd Infantry Brigade Combat Team, Joint Pacific Multinational Readiness, Martinez Soldiers, 11th Field Artillery, 25th Infantry Division, . Troops Locations: Fairbanks , Alaska, Fort Drum , New York, Utqiagvik, Alaska, China, Russia, North Korea, U.S, Hawaii, Ukraine

☆ Christopher Saunders: Former Australian bishop charged with historical sex offenses
▼ + stars: | 2024-02-22 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +3 min

Brisbane, Australia CNN —A senior Australian Catholic clergyman has been charged with historical sex offenses allegedly committed while he was serving as the bishop of Broome, a remote diocese in Western Australia. Emeritus Bishop Christopher Saunders was arrested on Wednesday at his home in Broome, where he became bishop in 1996, according to CNN affiliate Seven News. Saunders is the highest-ranking Australian Catholic official charged with historical sex abuse charges since Cardinal George Pell faced court over historical assaults allegedly committed in the late 1990s. Of the survivors who reported being abused in a religious institution, 61.4% said the abuse occurred in a Catholic organization. The Royal Commission into Institutional Responses to Child Sexual Abuse reported that 7% of Australian Catholic priests had been accused of abusing children.

Persons: Australia CNN —, Bishop Christopher Saunders, Saunders, Timothy Costelloe, ” Costelloe, ”, Costelloe, Cardinal George Pell, Pell Organizations: Australia CNN, Australian Catholic, CNN, Seven News . Police, Australian Catholic Bishops Conference, Catholic Bishops Conference, WA, Police, Australian, Australia’s, Catholic, Royal Commission Locations: Brisbane, Australia, Broome, Western Australia, Rome

☆ TikTok's feud with Universal has music marketers shifting campaigns to Instagram reels while some see an opportunity to plug other artists
▼ + stars: | 2024-02-13 | by ( Dan Whateley | Amanda Perelli | ) www.businessinsider.com time to read: +4 min

But for music marketers tasked with helping artists and new releases go viral on social media, the show must go on. Others are encouraging creators and performers to use unofficial, user-uploaded versions of UMG artists' songs in TikTok videos. Other marketers have similarly shifted promotional efforts from TikTok to reels for UMG songs. Still, even without UMG artists' songs, TikTok remains a critical part of the song-marketing playbook, music marketers told BI. Some marketers are asking creators to swap in these unofficial tracks into muted videos to promote the UMG artists, several of the music marketers said.

Persons: TikTok, Olivia Rodrigo, Taylor Swift, they've, Simon Friend, Timothy Collins, Benjamin Ingrosso's, Benjamin, Collins, Friend Organizations: Universal Music, Business, Round, BI, Creed Media, Universal Music Group, TikTok

☆ Can a DNA analysis help improve your fitness?
▼ + stars: | 2024-02-06 | by ( Melanie Radzicki Mcmanus | ) edition.cnn.com time to read: +7 min

Increasingly, people are interested in pursuing how their genes may be affecting their health, nutrition, fitness potential and risk of injury. The global market for these direct-to-consumer genetic tests is projected to soar in the next several years, skyrocketing from $1.9 billion in 2023 to $8.8 billion by 2030, according to a market analysis report by Grand View Research. Still, some are intriguedDespite these issues, many remain intrigued by DNA fitness tests. Balance Gym recently partnered with FitnessGenes, a UK-based company that sells genetic tests, to help its clients achieve better results from their workouts. Time, and further scientific advances, may shed more light on whether DNA fitness tests are, or can be, useful.

Persons: they’re, there’s, Timothy Caulfield, “ I’ve, ” Caulfield, Caulfield, “, Eva, Dylan MacKay, ” MacKay, ”, Devin Maier, Maier, ” Maier, MacKay, Melanie Radzicki McManus Organizations: CNN’s, CNN, Grand View Research, Indian, Australia’s National Rugby League, University of Alberta, University of Manitoba, FitnessGenes Locations: Europe, Orthopaedics, Uzbekistan, China, Edmonton, Winnipeg , Canada, Washington ,, —

Part motel, part new-age clinic, the facility offers nightly rentals in rooms that come equipped with “BioHealers” –- canisters that the company claims exude “life force energy,” or biophotons. “There are some forces driving that: obviously the internet and social media, and distrust of traditional medicine, traditional science. Given the primary importance of health, it’s hardly surprising that unproven medical claims and products that seem too-good-to-be-true have a long history in America. “ Distrust of government and distrust of major institutions makes people vulnerable,” said Stephen Barrett, a psychiatrist and expert in unproven medical claims who launched the organization Quackwatch in the 1970s to highlight medical scams. As a result, low-level hucksters or those peddling unproven treatments often don’t get as much attention.

Persons: BUTLER, exude, Tesla, Dr, James Liu, ”, Liu, Timothy Caulfield, Medbeds, Donald Trump, “ I’m, medbeds, ” Liu, it’s, John Brinkley, they’ve, Alex Jones, Trump, Stephen Barrett, Elon Musk, Nikola Tesla, Seth Robinson, Robinson doesn’t, We’re, Tesla’s, I’ve, Caulfield, ” Caulfield, “ It’s, ” Tesla’s, Bahman Anvari, It’s Organizations: Tesla, MedBed, Penn State University, “, University of Alberta, Walmart, Associated Press, Drug Administration, Elon, FDA, AP, University of California Locations: Pa, Pittsburgh, China, New Jersey, Butler, Tennessee, America, Florida, Delaware, Riverside

These days, however, conspiracy theories and those who believe them seem to be playing an outsize role in politics and culture. On the left, Robert F. Kennedy Jr. has exploited conspiracy theories about vaccines to wage his own campaign for the presidency this year. The Associated Press has examined the history of conspiracy theories in the United States. “I was suicidal before I got into conspiracy theories,” said Antonio Perez, a Hawaii man who became obsessed with Sept. 11 conspiracy theories and QAnon until he decided that they were interfering with his life. Russia, China, Iran and other U.S. adversaries have worked to amplify conspiracy theories as a way to destabilize democracy further.

Persons: Robert F, Kennedy Jr, ”, John Llewellyn, Melissa Sell, Antonio Perez, “, I’ve, they've, —, Nash, peddlers, Trump, Timothy Caulfield Organizations: Associated Press, Illuminati, Wake Forest University, AP, Sandy, Elementary, Capitol, Business, U.S, University of Alberta Locations: United States, Pennsylvania, Connecticut, Hawaii, U.S, Russia, China, Iran

☆ NASA's $93 billion moon-landing program looks really bad right now
▼ + stars: | 2024-01-09 | by ( Associated Press | ) www.businessinsider.com time to read: +4 min

The first human moon landing in more than 50 years also got bumped, from 2025 to September 2026. CHANDAN KHANNA/Getty ImagesLaunched on Monday as part of NASA's commercial lunar program, Astrobotic Technology's Peregrine lander was supposed to serve as a scout for the astronauts. Related storiesNASA is relying heavily on private companies for its Artemis moon-landing program for astronauts, named after the mythological twin sister of Apollo. SpaceX's Starship mega rocket will be needed to get the first Artemis moonwalkers from lunar orbit down to the surface and back up. In a test flight of its new moon rocket in 2022, the space agency sent an empty Orion capsule into lunar orbit and returned it to Earth.

Persons: —, Bill Nelson, Peregrine Lunar Lander, CHANDAN KHANNA, Astrobotic, Peregrine, Artemis, Timothy Clary, Elon Musk's, Amit Kshatriya Organizations: NASA, Service, Artemis, United Launch Alliance, Houston, Getty, SpaceX Locations: Pittsburgh, Texas, of Mexico, AFP

Interest rates for long-term borrowing for capital improvements also would be less costly for Pine Tree Power. The anger and frustration from electric ratepayers in Maine is a far cry from the days when Iberdrola bought Central Maine Power, the state’s largest electric utility. The privately operated, nonprofit Pine Tree Power utility would contract with a private grid operator through a competitive bidding process. But Pine Tree Power would face some of the same constraints as CMP and Versant. And, like the existing utilities, Pine Tree Power would have no control over the actual cost of electricity, which comprises about half of consumers' monthly bills.

Persons: Mainers, ”, Timothy Cox, Janet Mills, William Harwood, Seth Berry, Harwood, Ann, Ursula Schryver, Schryver, Mike Jacobs, Jacobs, who's, Christie Decker, “, Decker, Freed, Willy Ritch, ” Al, David Sharp, @David_Sharp_AP Organizations: Central Maine Power, Energy Partners, Democratic Gov, Maine Public, CMP, Nationwide, American Public Power Association, Union of Concerned Scientists, Iberdrola, Maine, Tree, Maine Affordable Energy Coalition Locations: PORTLAND, Maine, U.S, Washington, Tree, Francisco, San Diego, Ann Arbor , Michigan, Rochester , New York, Nebraska, Boston, Wilton, Pine, ” Al Cleveland

☆ Norway’s Ingebrigtsen family is ripped apart by allegations of ‘aggression and physical punishment’
▼ + stars: | 2023-10-27 | by ( George Ramsay | ) edition.cnn.com time to read: +8 min

Such was the case for Gjert Ingebrigtsen, who was the coach to three of his seven children: Henrik, Filip and Jakob, the one who raced to Olympic gold in Tokyo two years ago. Because he’s anxious and he has nerves and he responds by getting irritated and angry about the little stuff.”CNN has contacted representatives for the Ingebrigtsen brothers for further comment. Team Ingebrigtsen, a documentary series first aired in 2016, has shed light on the family dynamic, particularly the father-coach relationship between Gjert and his sons. “I would say that after the royal family, I think they are the most famous family in Norway,” said Folvik. In two separate statements, the federation said that it wants to create a “safe environment” for athletes and made reference to comments made by the Ingebrigtsen brothers in the media.

Persons: Timothy Cheruiyot, Gjert Ingebrigtsen, Henrik, Filip, Jakob, ” Henrik, ” Jakob Ingebrigtsen, Matthias Hangst, “, Elden Advokatfirma, ”, Terese Braut Våge, ” John Christian Elden, Filip Ingebrigsten, Michael Steele, Martin, Gjert, Norway’s, ’ Henrik, Erling Haaland, Martin Ødegaard, Viktor Hovland, ” Herman Folvik, it’s, Team Ingebrigtsen, Narve Gilje Nordås, Narve, Nordås, Sam Mellish, – Organizations: CNN, Kenyan, Tokyo, CNN Sport, New York Times, VG, Team, Norwegian Athletics Federation Locations: Tokyo, Berlin, Norway, Budapest, Hungary

CNN —For the victims of the mass shooting Wednesday night in Lewiston, Maine, it was an ordinary night out. Even on her night off on Wednesday, Asselin was at Just-in-Time, her brother told CNN. He was one the victims lost in the shooting in Maine,” the organization wrote in a Facebook post Thursday. Arthur “Artie” StroutArthur "Artie" Strout Strout family/WBZArthur “Artie” Strout, 42, was at Schemengees during the shooting, his father, Arthur Bernard, told CNN affiliate WBZ. His death has left his family in “shock and profound grief,” his family member Cecile Francoeur Martin told CNN.

Persons: Robert Card, Michael Sauschuck, Tricia Asselin Tricia Asselin, CNN Tricia Asselin, Asselin, I’m, ” DJ Johnson, ”, Johnson, Stephen “ Steve ” Vozzella Stephen Vozzella, Megan Vozzella Stephen Vozzella, Vozzella, Brian L, Renfroe, “, Governor Baxter, Karen Hopkins, ” Vozzella, NEDC, Steve Vozzella, he’d, Peyton Brewer, Ross Peyton Brewer, Ross, CNN Peyton Brewer, Ralph Brewer, Brewer, cornhole, Schemengees . Brewer, Ross “, Elle, Thomas “ Tommy ” Conrad Tommy Conrad, Timothy Conrad Tommy Conrad, Conrad, Michael Deslauriers, Vicki Deslauriers Roy, Michael Deslauriers II, Michael Deslauriers Sr, Deslauriers, ” Deslauriers, ” Jason Walker Jason Walker, Mike Sauschuck, Bryan MacFarlane Bryan MacFarlane, Keri Brooks Bryan MacFarlane, Keri Brooks, MacFarlane, Brooks, Arthur “ Artie ” Strout Arthur, Artie, Strout, WBZ Arthur, Artie ” Strout, Arthur Bernard, Bernard, Joseph “ Joey ” Walker Joseph Walker, CNN Leroy Walker, Joseph Walker, Walker, Joseph, ” Leroy Walker, it’s, ” Joshua Seal Lewiston, Joshua Seal, Seal, Janet Mills, Nirav Shah, Elizabeth Seal, Joshua, ” Seal’s, ” Keith Macneir Keith Macneir, Maxx Hathaway Maxx Hathaway, Kelsay Hathaway, GoFundMe Maxx Hathaway, ” Kelsay Hathaway, “ Brenda, Maxx, Brenda Hathaway, Lilian, Brenda, ” Kelsay, Courtney Hathaway, she’s, he’s, ” Courtney Hathaway, “ Maxx, Robert “ Bob ” Violette Bob Violette, Violette, CNN Bob Violette, “ Bob’s, Brandon Dubuc, ” Witnesses, Cassandra Violette, Lucille Violette Lucille Violette, Bob Violette, William “ Bill ” Young, Aaron Young, Bill Young, Aaron, Kayla Putnam, CNN Bill Young, Young, Putnam, Bill, “ He’s, ” Putnam, WCVB, “ It’s, Rob, ” Rob, Ronald “ Ron ” Morin, Ron Morin, Ron Morin Ron Morin, Cecile Francoeur Martin, Martin, Morin’s, Morin, ” William Frank Brackett William Frank Brackett, CNN’s Caroll Alvarado, Elizabeth Wolfe, Sara Smart, Afshar, Amanda Jackson, Cara Lynn Clarkson, Aya Elamroussi Organizations: CNN, Public, New, Deaf, National Association of, Carriers, U.S . Postal Service, Governor, Governor Baxter School, Deaf Cornhole, “, Schemengees, WMTW, Facebook, Historical Society, of Public, WBZ, WGME, Tree Society, Maine Gov, Boston Globe, Portland Press Herald, Press Herald, WCVB, Bangor Daily News Locations: Lewiston , Maine, Lisbon Falls, United States, Uvalde , Texas, Lewiston, Maine, Schemengees, Auburn , Maine, “

☆ PNC Financial to cut jobs after profit drops, revenue misses estimates
▼ + stars: | 2023-10-13 | by ( Jaiveer Shekhawat | ) www.reuters.com time to read: +2 min

[1/2] A person walks past a branch of PNC Bank, a subsidiary of PNC Financial Services Group, in Washington, U.S. April 30, 2023. REUTERS/Ashraf Fahim/File Photo Acquire Licensing RightsOct 13 (Reuters) - PNC Financial Services Group (PNC.N) said on Friday it has started reducing its staff by about 4% as part of a cost-cut initiative after the U.S. lender's third-quarter profit declined and revenue missed estimates. Average deposits at the bank fell 3.8%, to $422.5 billion. PNC posted a profit of $3.60 per share, compared to analysts' estimate of a profit of $3.11 per share, according to LSEG IBES data. Its third-quarter NII fell 1.6% from a year earlier.

Persons: Ashraf Fahim, Timothy Coffey, Janney Montgomery Scott, Scott, Jaiveer Shekhawat, Pritam Biswas, Pooja Desai, Sriraj Kalluvila, Vinay Dwivedi Organizations: PNC Bank, PNC Financial Services Group, REUTERS, PNC Financial Services, U.S, PNC, Thomson Locations: Washington , U.S, Pittsburgh, Bengaluru

☆ Lukaku backs Belgium return for Courtois after spat with coach
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

BRUSSELS, Oct 11 (Reuters) - Belgium's stand-in captain Romelu Lukaku said he would welcome Thibaut Courtois back into the national team with open arms after the goalkeeper walked out of the squad in June. Courtois tore knee ligaments and underwent surgery in August, delaying any resolution, but earlier this week Belgium fullback Timothy Castagne said he did not think Courtois could return to the squad without any explanation. “The day Thibaut decides to return, he will simply return. You know, I would like to call on the media not to constantly write that Thibaut Courtois or any other player said this or did that. Lukaku was chosen ahead of Courtois as captain in June, standing in for the injured Kevin De Bruyne.

Persons: Romelu Lukaku, Thibaut Courtois, Courtois, Domenico Tedesco, Timothy Castagne, “, ”, Thibaut, “ Thibaut, Lukaku, Kevin De Bruyne, Castagne, I've, Mark Gleeson, Toby Davis Organizations: Estonia, Real Madrid, Austria, Thomson Locations: BRUSSELS, Belgium, Vienna, Paris

NEW YORK (AP) — D’Wayne Wiggins and Timothy Christian Riley didn’t realize that Raphael Saadiq was planting the seeds for a Tony! “We have to be us first before we could talk to anybody because that’s what happened the last time.”Cut to last month, when Tony! “I think it’s been really cool to hear younger kids sample our music and make new songs with our music,” Riley said. “We did always feel the love from our peers and fans and people just in general — it felt really good,” he said. He remembers a younger Beyoncé asking to hear some of the music he was working on.

Persons: — D’Wayne Wiggins, Timothy Christian Riley didn’t, Raphael Saadiq, Tony, Toni, “, ”, Wiggins, ” Saadiq, …, Saadiq, Riley, Toné, Raphael Saddiq, Tone, It’s, that’s, “ There’s, Little Walter, Jack Swing, DJ Quik, ” “, “ I’ve, Nat King Cole, Tonyies, ‘, We’d, ” Wiggins, Amar Khalil, Will Smith, Alicia Keys, Badu’s, Lady ”, Whitney Houston, Mary J, Blige, Dawn Robinson, Ali Shaheed Muhammad, Lucy Pearl, it’s, ” Riley, ” RAPHAEL SAADIQ, Raphael Saadiq's, D’Wayne Wiggins, Beyoncé, who’s, Knowles, Solange’s, she’s, Oscar, ’ ” Saadiq, Gary Gerard Hamilton Organizations: Music, TLC, En, Associated Press Locations: Oakland, Oakland , California, Southern California, @GaryGHamilton

☆ Leaked photos show a Dollar General store with rat-chewed products, a dead rodent, and fecal matter covering the stockroom floor.
▼ + stars: | 2023-08-15 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

Photos at a Dollar General store in Texas show evidence of a rat infestation. It's the latest Dollar General store to face problems with rodents — and resulting health hazards. Rat waste is seen on the floor of the stockroom at the Dollar General store in Texas. A worker said he found this dead rat at the Dollar General store in Texas. On Tiktok, Dollar General workers and customers have also complained about products contaminated by rodents.

Persons: Timothy Organizations: Service, Dollar, Cities Health District, Employees, US Food and Drug Administration, CNN, New York Daily News Locations: Texas, Wall, Silicon, East Texas, Hutto, Austin, Williamson County, Maryland, Massachusetts, Bessemer , Alabama, West Memphis , Arkansas, New York's Queens

It will be based in Los Angeles and led by Banc of California CEO Jared Wolff. Shares of PacWest surged 34% after the market close, while Banc of California jumped 9%. PacWest stockholders will receive 0.6569 Banc of California shares for each PacWest share they currently own. Meanwhile, the two private equity firms will be issued new Banc of California stock worth $400 million at a price of $12.30 per share. PacWest had total assets of $44 billion at the end of March, while Banc of California had assets of $10 billion, according to separate company filings.

Persons: Warburg Pincus, Centerbridge, Jared Wolff, PacWest, Timothy Coffey, Janney Montgomery Scott, Janet Yellen, Ares Management, Wolff, We've, David Smith, Nomura, Niket, Nupur Anand, David French, Pete Schroeder, Tatiana Bautzer, Megan Davies, Lananh Nguyen, Arun Koyyur, Jonathan Oatis, Sonali Paul Organizations: PacWest Bancorp, Warburg, Centerbridge Partners, midsize, RARE, Bank, Pacific Western Bank, Federal Deposit Insurance Corporation, Autonomous Research, U.S, Thomson Locations: Banc, California, Los Angeles, U.S, Bengaluru, New York

☆ Banc of California and PacWest Bancorp will merge into a new bank holding $36 billion in assets
▼ + stars: | 2023-07-26 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Banc of California and PacWest Bancorp shares surged after announcing an all-stock merger. The new bank will have $36 billion in assets and $30.5 billion in total deposits. Banc of California shares jumped 8.4% to $15.85 apiece in after-hours trade, extending gains from an 11% rise on Tuesday. The all-stock deal will result in a new bank with $36 billion in combined assets, Banc of California and PacWest announced on Tuesday. It will have $25.3 billion in total loans and $30.5 billion in total deposits.

Persons: PacWest, Jared Wolff, Warburg Pincus, Wolff, We've, Timothy Coffey, Janney Montgomery Scott Organizations: PacWest Bancorp, Morning, Warburg, Centerbridge, Reuters, Silicon Valley Bank, Signature Bank, JPMorgan, First Republic Bank, First Citizens Bank, New York Community Bancorp Locations: California, Banc, Silicon, Signature Bank , New York

☆ How Fake Science Sells Wellness
▼ + stars: | 2023-07-26 | by ( Rina Raphael | ) www.nytimes.com time to read: +2 min

You can’t browse a grocery store or pharmacy without being subject to flashy labels that promote health benefits. But it’s becoming more common, said Timothy Caulfield, a research chair in health law and policy at the University of Alberta. Mr. Caulfield coined the term “scienceploitation” to describe how brands borrow language from emerging areas of science to market unproven products. Scienceploitation crops up in far more places today than ever before, including in search results, on social media platforms and from influencers, Mr. Caulfield said. But they can’t always separate fact from fiction: A 2021 study suggested that people who trust science were more likely to share false claims that contained scientific references than claims that didn’t.

Persons: Timothy Caulfield, Caulfield, Sienna Piccioni Organizations: ”, University of Alberta, Mr, Federal Trade Commission Locations: influencers

☆ When El Niño exacerbates global warming: Record heat, record flooding, record wildfires
▼ + stars: | 2023-07-15 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +11 min

Brown | Afp | Getty ImagesIf you feel like record-level extreme weather events are happening with alarming frequency, you're not alone. Global warming is making extreme weather events more severe, scientists said. But what is clear is that climate change makes it more likely that an extreme weather event will happen. "Higher temperatures from climate change are indisputable, and with each degree increase we're multiplying our changes of getting an extreme heat wave. Decreasing the greenhouse gas emissions released into the atmosphere by burning fossil fuels will help moderate the extreme weather trends.

Persons: Rai Rogers, Frederic J, Brown, Michael Mann, Brandon Bell, Phil Scott, Paul Ullrich, Mann, Ullrich, Justin Trudeau, El Niño, Timothy Canty, Canty, they're Organizations: Afp, Getty, University of Pennsylvania, CNBC, National Oceanic, Atmospheric Administration, NOAA, National Weather Service, Prediction, EMT, Emergency, Washington Post, The Washington Post, Anadolu Agency, University of California, Global, Wildfire, Bloomberg, University of Maryland, Government, Montreal Locations: Las Vegas , Nevada, California, Texas, Florida, United States, Northern, West Coast, Phoenix , Arizona, Nevada, Arizona, Montpelier , Vermont, Vermont, Canada, New York City, Anadolu, Davis, Lytton , British Columbia, El, Americas, Gulf, Pacific Northwest, Ohio, Northeastern, Ankara, Turkiye, Montreal

☆ The cult of Emily Oster
▼ + stars: | 2023-06-22 | by ( Sarah Todd | ) www.businessinsider.com time to read: +30 min

Emily Oster is sitting in the back of a car, checking her Garmin watch as we lurch through rush-hour traffic toward the Holland Tunnel. A self-described expert in data, Oster uses her economics training to dig into studies on things like circumcision and screen time and translate them for popular consumption. There doesn't seem to be much of a gap between the way Oster presents herself in her books and newsletters and the way she conducts her life. Unsurprisingly, economics informs every aspect of the way Oster sees the world. When Oster was a toddler, her mother told a Yale colleague that Oster often talked to herself before falling asleep.

Persons: Emily Oster, doesn't, Oster, Taylor Swift, Spock, —, Mandy Moore, Emily DiDonato, Amy Schumer, " Oster, Emily, Aisha McAdams, Claudia Goldin, who's, Lori Feldman, " Feldman, Winter, It's, reopenings, Timothy Caulfield, Oster's Brown, OSTER, She's, Sheryl Sandberg's, Brown, Denis Tangney Jr, graham, Eminem, Sharon Oster, Ray Fair, Jesse Shapiro, Katherine Nelson, Carl, Choate Rosemary Hall, John F, Kennedy, Glenn Close, Ivanka Trump, Goldin, Steven Levitt —, Oster —, Paul Farmer, Steven Levitt, Oster's, Levitt, Robert Barro, demographer Monica Das Gupta, Joseph Delaney, she'd, I've, Matt Notowidigdo, Chicago Booth, hadn't, Udo Salters, Patrick McMullan, Shapiro, Jessica Calarco, Dr, Anthony Fauci, Donald Trump, Calarco, Rochelle Walensky, Delaney, University of Manitoba epidemiologist, Abigail Cartus, Justin Feldman, Delivette Castor, they're, COVID, Castor, Notowidigdo, Carter, you'd, she's, there's Organizations: Garmin, Brown University, New York Times, American Academy of Pediatrics, Yorker, Yale School of Management, Yale, Harvard, Connecticut, Choate, University of Chicago, Forbes, Wall, Publicly, University of Manitoba, Getty, Oster, Centers for Disease Control, Columbia University, Harvard Business School Locations: Holland, Montclair , New Jersey, Montclair, Harvard, Providence , Rhode Island, New Haven , Connecticut, China, Canada, Chicago, Ohio, New Jersey

☆ Why bank stocks are so unstable
▼ + stars: | 2023-05-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

New York CNN —The financial sector has been churning in rough water since the shocking collapse of Silicon Valley Bank in March. Bank insiders see this and have been buying up shares of regional lenders, according to a report by Timothy Coffey, an analyst at Janney Montgomery Scott. The Oracle of Omaha said he remains cautious about holding bank stocks and that he has reduced his own exposure to the sector. The S&P 500 financial sector, however, is down more than 12% over the same period. Economists were hoping that this year would bring better news, but instead 2023 brought the collapse of three US regional banks and a subsequent lending squeeze.

☆ This 'dirt cheap' regional bank stock could rebound more than 100%, Janney says
▼ + stars: | 2023-05-08 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Janney analyst Timothy Coffey said in a note to clients Monday that Western Alliance is now "dirt cheap" and reiterated his buy rating on the stock. "Bank stocks of all stripes have been volatile since Silicon Valley Bank and Signature Bank were closed in mid-March. However, recent volatility in WAL (and, for that matter, PACW, BUY-rated) do not indicate company-specific weakness," the Janney note said. Janney has a fair value estimate of $63 per share for Western Alliance, which is more than 100% above where the stock closed on Friday. The stock was trading above $70 per share in March before Silicon Valley Bank collapsed, triggering the sell-off for regional banks.

☆ Analysts warn regional banks stocks are in a 'negative feedback loop' and detached from fundamentals
▼ + stars: | 2023-05-04 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The latest drop for regional bank shares is causing some Wall Street analysts to back away from their recommendations on the stocks, even if they still believe in the underlying fundamentals for the companies. Other regional banks also sold off, including a 19% drop for Western Alliance. The deposit update was not enough to reassure all Wall Street analysts about the health of regional banks, and there is concern that the drops in the stocks could reignite deposit flight. Meanwhile, RBC Capital Markets' analyst Jon Arfstrom stuck with his outperform rating on PacWest, but said only investors with strong stomachs should stick around. Western Alliance Another bank stock that has taken heavy loses in recent weeks is Western Alliance .

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