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☆ These 28 regional and community banks exceed regulators' threshold for high commercial real estate concentration risk: here's what's really at stake.
▼ + stars: | 2024-03-09 | by ( Laila Maidan | ) www.businessinsider.com time to read: +12 min

But where banks' exposure to commercial real estate is concerned, locating that fire may be difficult. Rising interest rates quickly increased the cost of borrowing for investors in commercial real estate, including offices and multifamily homes. It doesn't reveal details such as borrowers' track records, said Mark Hillis, a former chief risk officer for commercial real estate at JPMorgan. There's also varying concentration risk: the largest banks with commercial real estate exposure are more diversified, meaning that any losses won't be as devastating, Baker said. "We think very few banks will run into issues just from their commercial real estate exposure," Reidy said.

Persons: Michael Barr, Jerome Powell, Todd Baker, Mark Hillis, Clifford Rossi, Robert H, Rossi, Baker, There's, Hillis, multifamily, haven't, You'll, Banks, you'll, Rebel Cole, NYCB, Matt Reidy, Reidy, Cole Organizations: Federal Reserve, Business, York Community Bank, SEC, Richman Center for Business, Law, Columbia University, JPMorgan, Smith, Smith School of Business, University of Maryland, Mortgage Banker's Association, Bank, Signature Bank, First, Countrywide Bank, Washington Mutual, Citigroup, multifamily, Florida Atlantic University, Federal, Regulators, TCRE, Equity RCRE, Community Bank, Provident Bank NJ, Merchants Bank of Indiana, Apple Bank for Savings, Oceanfirst Bank, Independent Bank, Lakeland Bank NJ, Ozk, Washington Federal Bank WA, Axos Bank, Sandy Spring Bank, Columbia Bank NJ, Farmers, Merchants Bank of CA, Popular Bank, Pacific Premier Bank, United Bank, Trust, Rockland Trust, Umpqua Bank, ServisFirst Bank, Bell Bank, Stellar Bank, National Bank of, National Bank of Florida FL, New York Community Bank Locations: multifamily, Basel, CRE, California, Rockland, National Bank of Florida

☆ US aims to show Trump's history of vote fraud claims at 2020 election trial
▼ + stars: | 2023-12-05 | by ( Andrew Goudsward | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +2 min

Former U.S. President Donald Trump attends a Manhattan courthouse trial in a civil fraud case in New York, U.S., October 18, 2023. The case in Washington federal court is one of four criminal prosecutions facing Trump as he seeks to challenge Democratic President Joe Biden in the 2024 election. Trump continues to argue that his 2020 loss to Biden was the result of widespread fraud, a false claim that was rejected by multiple courts, state reviews and members of Trump's own administration. Trump is scheduled to stand trial beginning in March on charges that he interfered in the counting of votes and sought to block Congress’ certification of the 2020 election. Prosecutors have accused Trump of spreading “destabilizing lies” about widespread voter fraud to sow distrust in the election.

Persons: Donald Trump, Michael M Santiago, Jack Smith's, Trump, Barack Obama, Mitt Romney, Hillary Clinton, Joe Biden, Biden, Andrew Goudsward, Scott Malone, Nick Zieminski Organizations: U.S, Rights, Republican, Democratic, Trump, Prosecutors, Thomson Locations: Manhattan, New York, U.S, Washington

☆ Meta sues FTC to block tough new restrictions on kids’ data
▼ + stars: | 2023-11-30 | by ( Brian Fung | ) edition.cnn.com time to read: +1 min

Thursday’s lawsuit in Washington federal court calls for a halt to the FTC’s proceeding, arguing that it is an unconstitutional abuse of government power. Meta appealed that decision on Tuesday, but Thursday’s lawsuit expands the company’s pushback further. The FTC declined to comment on the new suit. After alleging new violations of Meta’s 2020 consent order, the FTC proposed in May to expand the terms of the company’s settlement to include significant new restrictions barring it from monetizing the personal data of users under age 18. If approved, the restrictions could significantly limit Meta’s data-driven business, particularly as it seeks to court younger users and to grow in new product areas, such as virtual reality.

Persons: Washington CNN —, Meta Organizations: Washington CNN, Meta, Federal Trade Commission, FTC, Supreme Locations: Washington

Former U.S. President Donald Trump delivers remarks after exiting the courtroom as he attends his Manhattan courthouse trial in a civil fraud case in New York, U.S., October 18, 2023. Future violations by Trump could be punished by steeper fines and possible imprisonment, Justice Arthur Engoron said in an order. Engoron said in the order that a social media post by Trump attacking the judge's clerk - which was deleted from the former president's Truth Social platform - had remained visible on his campaign website two weeks after he had ordered it taken down. Trump at times has appeared in person at the ongoing trial, attacking James and Engoron in inflammatory remarks to reporters outside of the courtroom. Trump, who has sought to portray the case as intended to hurt him politically, has denied wrongdoing and defended his asset valuations.

Persons: Donald Trump, Brendan McDermid, Arthur Engoron, Engoron, Trump, Joe Biden, Letitia James, Chuck Schumer, James, James accused Trump, Jasper Ward, Jack Queen, Costas Pitas, Will Dunham, Noeleen Organizations: U.S, REUTERS, Trump, Republican, Democratic, Thomson Locations: Manhattan, New York, U.S, Washington

☆ Going Easy on a Tax-Return Heist
▼ + stars: | 2023-10-19 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Photo: mandel ngan/Agence France-Presse/Getty ImagesThe Justice Department has finally found the man who stole thousands of private federal tax records and leaked them to the media. But the potential deterrent effect is going to be muted by the plea deal negotiated with Internal Revenue Service contractor Charles Littlejohn. In a hearing last week in Washington federal court, Mr. Littlejohn admitted to stealing tax returns for President Trump and thousands of wealthy Americans, before leaking them to two separate media outlets. He gave Mr. Trump’s information to the New York Times , even as the President was fighting demands for his tax returns by Democrats in Congress. The leak of wealthy taxpayer information to ProPublica coincided with a progressive campaign to impose a new tax on assets.

Persons: mandel ngan, Charles Littlejohn, Littlejohn, Trump, Littlejohn’s Organizations: Agence France, The, Department, Internal Revenue Service, New York Times, Congress Locations: Washington

Charles McGonigal, a former FBI official who has been charged with working for sanctioned Russian oligarch Oleg Deripaska, arrives at Federal Court in New York City, U.S., March 8, 2023. Charles McGonigal, who led the FBI’s counterintelligence division in New York before retiring in 2018, is scheduled to appear at a plea hearing in Washington federal court at 2 p.m. (1800 GMT). He pleaded guilty to a conspiracy charge in federal court in Manhattan last month in a separate case related to his work for Russian oligarch Oleg Deripaska while Deripaska was under U.S. sanctions. McGonigal’s lawyer and a spokesperson for the U.S. Attorney’s Office in Washington declined to comment ahead of the hearing. U.S. prosecutors say the former Albanian intelligence officer had business interests in Europe and was a source for an FBI investigation involving foreign lobbying that McGonigal supervised.

Persons: Charles McGonigal, Oleg Deripaska, Brendan McDermid, Deripaska, McGonigal, Andrew Goudsward, Scott Malone, Grant McCool Organizations: FBI, Court, REUTERS, Rights, U.S, Attorney’s, Thomson Locations: Russian, New York City, U.S, Albanian, New York, Washington, Manhattan, Europe

☆ Trump seeks disqualification of US judge in federal election case
▼ + stars: | 2023-09-11 | by ( Andrew Goudsward | ) www.reuters.com time to read: +3 min

Former U.S. President and Republican presidential candidate Donald Trump speaks at a South Dakota Republican party rally in Rapid City, South Dakota, U.S. September 8, 2023. Trump, the front-runner for the 2024 Republican presidential nomination, said last month he planned to seek Chutkan's recusal as well as a change of venue for the case. Trump has frequently criticized Chutkan on his social media site since she was randomly assigned to preside over the election case in Washington federal court. The judge also previously warned Trump about attempting to influence potential witnesses in the case. "Presidents are not kings, and Plaintiff is not president," Chutkan wrote in that ruling.

Persons: Donald Trump, Jonathan Ernst, Tanya Chutkan, Trump, Chutkan, ” Trump, Jack Smith, Democrat Joe Biden, Barack Obama, Andrew Goudsward, Kanishka Singh, Jack Queen, Rami Ayyub, Scott Malone Organizations: U.S, Republican, South, South Dakota Republican, REUTERS, Rights, Former U.S, Trump, Capitol, Democrat, White, U.S . House, Thomson Locations: South Dakota, Rapid City , South Dakota, U.S, Former, Washington, Georgia

Jenna Ellis, a former lawyer for Trump who challenged the 2020 election results, also pleaded not guilty on Thursday. The 98-page Georgia indictment filed in mid-August charges Trump and 18 other defendants with a total of 41 criminal counts. The Georgia case is Trump's fourth indictment. He faces a New York state trial in March involving a hush money payment to a porn star and a federal trial in May in Florida for allegedly mishandling federal classified documents. Another indictment, in federal court in Washington, accuses him of illegally seeking to overturn his 2020 election defeat.

Persons: Donald Trump, mugshot, Trump, Joe Biden's, Kenneth Chesebro, Trump's, Sidney Powell, Trevian Kutti, Ray Smith, Jenna Ellis, Ellis, Kanishka Singh, Andrew Goudsward, Scott Malone, Howard Goller, Jonathan Oatis Organizations: U.S, Sheriff's, Washington Federal Inc, WASHINGTON, Former U.S, Fulton County, Fulton County Superior Court, Republican, House, Thomson Locations: Fulton, Atlanta , Georgia, U.S, Former, Georgia, Fulton County, Atlanta, New York, Florida, Washington

The plea means that Trump, the front-runner for the 2024 Republican nomination, will not appear in person in court next week to face the charges. The 98-page Georgia indictment filed in mid-August charges Trump and 18 other defendants with a total of 41 criminal counts. He faces a New York state trial in March involving a hush money payment to a porn star and a federal trial in May in Florida for allegedly mishandling federal classified documents. Another indictment, in Washington federal court, accuses him of illegally seeking to overturn his 2020 election defeat. Trump has pleaded not guilty in all criminal cases and could spend much of next year in court, even as he campaigns to retake the White House.

Persons: Donald Trump, mugshot, Trump, Joe Biden's, Trump's, Sidney Powell, Trevian Kutti, Ray Smith, Kanishka Singh, Scott Malone, Howard Goller Organizations: U.S, Sheriff's, Washington Federal, Former U.S, Fulton County Superior Court, Republican, Democratic, Fulton, House, Thomson Locations: Fulton, Atlanta , Georgia, U.S, Former, Georgia, Fulton County, New York, Florida, Washington

☆ 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

Mark Meadows, Trump's former White House chief of staff, and lawyers Rudy Giuliani and John Eastman were among those charged. "Rather than abide by Georgia's legal process for election challenges, the defendants engaged in a criminal, racketeering enterprise to overturn Georgia's presidential election result," Willis said at a press conference. A third indictment, in Washington federal court, accuses him of illegally seeking to overturn his 2020 election defeat. Trump persists in falsely claiming he won the November 2020 election although dozens of court cases and state probes have found no evidence to support his claim. Willis's investigation drew on testimony from Trump advisers including Giuliani, who urged state lawmakers in December 2020 not to certify the election, and Republican state officials like Raffensperger and Governor Brian Kemp, who refused to echo Trump's false election claims.

Persons: Donald Trump, Democrat Joe Biden, Fani Willis, Mark Meadows, Rudy Giuliani, John Eastman, Willis, Trump, Drew Findling, Jennifer Little, Marissa Goldberg, Georgia's, Brad Raffensperger, Trump's, Prosecutors, Giuliani, Meadows, Scott Morgan, Brian Kemp, Kemp, Raffensperger, Jean Carroll, Sarah N, Lynch, Rami Ayyub, Jack Queen, Tim Ahmann, Andrew Goudsward, Kanishka Singh, Nilutpal, Andy Sullivan, Scott Malone, Howard Goller Organizations: Former U.S, Democrat, Fulton, Trump, Republican, White House, Reuters, U.S . Capitol, Electoral College, Fair, REUTERS, Thomson Locations: Former, Georgia, Fulton County, Trump's, Arizona , Pennsylvania, Iowa, Des Moines , Iowa, U.S, New York, Florida, Washington

"Trump and the other defendants charged in this indictment refused to accept that Trump lost, and they knowingly and willfully joined a conspiracy to unlawfully change the outcome of the election in favor of Trump," the indictment said. A third indictment, in Washington federal court, accuses him of illegally seeking to overturn his 2020 election defeat. Trump denies wrongdoing in this case as well, and a trial date has yet to be set. Willis's investigation drew on testimony from Trump advisers including Giuliani, who urged state lawmakers in December 2020 not to certify the election, and Republican state officials like Raffensperger and Governor Brian Kemp, who refused to echo Trump's false election claims. While many Republican officials have echoed Trump's false election claims, Kemp and Raffensperger have refused to do so.

Persons: Donald Trump, Evelyn Hockstein, Democrat Joe Biden, Fani Willis, Mark Meadows, Rudy Giuliani, John Eastman, Trump, Georgia's, Brad Raffensperger, Trump's, Prosecutors, Willis, Giuliani, Brian Kemp, Kemp, Raffensperger, Jean Carroll, Jack Queen, Tim Ahmann, Jacqueline Thomsen, Andy Sullivan, Scott Malone, Howard Goller Organizations: Fair, REUTERS, Former U.S, Democrat, Trump, Republican, White House, U.S . Capitol, Electoral College, Giuliani, Meadows, Reuters, Thomson Locations: Iowa, Des Moines , Iowa, U.S, Former, Georgia, Fulton County, Trump's, Georgia county, Arizona , Pennsylvania, New York, Florida, Washington, York

☆ Factbox: The legal troubles of former US President Donald Trump
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +6 min

Republican presidential candidate and former U.S. President Donald Trump campaigns at the Iowa State Fair in Des Moines, Iowa, U.S. August 12, 2023. REUTERS/Scott Morgan/File PhotoAug 15 (Reuters) - Here is a list of legal troubles facing former U.S. President Donald Trump, the front-runner for the 2024 Republican presidential nomination. On Jan. 6, 2021, Trump supporters attacked the U.S. Capitol in a failed bid to prevent certification of Biden's victory. Trump pleaded not guilty to 34 counts of falsifying business records. Cohen pleaded guilty to campaign finance violations and other crimes and was sentenced to three years in prison in 2018 during Trump's presidency.

Persons: Donald Trump, Scott Morgan, Trump, Democrat Joe Biden, Mark Meadows, Rudy Giuliani, John Eastman, Jack Smith, Walt Nauta, Carlos De Oliveira, De Oliveira, Nauta, Trump's, Michael Cohen, Stormy Daniels, Daniels, reimbursing Cohen, Cohen, Jean Carroll, Carroll, Letitia James, James, Donald Jr, Eric, Joseph Ax, Luc Cohen, Karen Freifeld, Susan Heavey, Sarah N, Lynch, Jonathan Stempel, Jacqueline Thomsen, Noeleen Walder, Howard Goller Organizations: Fair, REUTERS, Democrat, Trump, White House, CAPITOL, U.S, Capitol, Prosecutors, Congress, White, Mar, Trump's, CNN, NEW, GENERAL, New York, Trump Organization, Thomson Locations: Iowa, Des Moines , Iowa, U.S, GEORGIA, Georgia, Trump's, Washington, Miami, Lago Florida, New Jersey, York, Manhattan, Lago, Florida, New York

☆ Trump election probe in Georgia is headed to grand jury next week
▼ + stars: | 2023-08-13 | by ( ) www.cnbc.com time to read: +3 min

Former President Donald Trump looks on before the first round of the LIV Golf Bedminster golf tournament at Trump National Bedminster, August 11, 2023. A Georgia prosecutor probing whether Donald Trump and his allies illegally sought to overturn the state's 2020 election results is expected to seek an indictment from a grand jury next week. "I'll certainly answer whatever questions are put in front of me," said Duncan, a Republican who has criticized Trump's false conspiracy theories about the 2020 election. Special Counsel Jack Smith, who brought the Washington case, has also charged Trump separately in Florida with illegally retaining classified documents after leaving office and with obstruction of justice. In a post on his Truth Social site on Saturday, Trump again called the Georgia investigation a "witch hunt."

Persons: Donald Trump, Fani Willis, Geoff Duncan, Duncan, George Chidi, Trump, Joe Biden's, Jack Smith, Willis, Republican Brad Raffensperger, Biden, Chidi Organizations: Bedminster, Trump National Bedminster, CNN, Republican, Trump Locations: Georgia, Atlanta, Fulton County, Washington, Florida

Aug 12 (Reuters) - A Georgia prosecutor probing whether Donald Trump and his allies illegally sought to overturn the state's 2020 election results is expected to seek an indictment from a grand jury next week. "I'll certainly answer whatever questions are put in front of me," said Duncan, a Republican who has criticized Trump's false conspiracy theories about the 2020 election. Special Counsel Jack Smith, who brought the Washington case, has also charged Trump separately in Florida with illegally retaining classified documents after leaving office and with obstruction of justice. In a post on his Truth Social site on Saturday, Trump again called the Georgia investigation a "witch hunt." Her investigation began soon after Trump made a phone call to the state's top election official, Republican Brad Raffensperger, and urged him to "find" enough votes to alter the outcome.

Persons: Donald Trump, Fani Willis, Geoff Duncan, Duncan, George Chidi, Trump, Joe Biden's, Jack Smith, Willis, Republican Brad Raffensperger, Biden, Chidi, Joseph Ax, Daniel Wallis Organizations: CNN, Republican, Trump, Thomson Locations: Georgia, Atlanta, Fulton County, Washington, Florida

Prosecutors, in asking for the protective order, argued that Trump could otherwise improperly disclose confidential evidence before trial. In a reply brief filed late on Monday, prosecutors said that since they had asked for the protective order, Trump's attorneys had discussed the case on major U.S. television networks. Prosecutors said Trump had a "plan to litigate this case in the media." Prosecutors in their Friday filing said they are prepared to provide Trump with a "substantial amount" of evidence once a protective order is issued. Trump lawyer John Lauro has said he will seek to transfer the 2020 election case from Washington, D.C., to West Virginia.

Persons: Donald Trump, Sam Wolfe, Donald Trump's, Trump, Joe Biden, Tanya Chutkan, Chutkan, Barack Obama, John Lauro, Jacqueline Thomsen, Dan Whitcomb, Scott Malone, Howard Goller, Leslie Adler Organizations: U.S, Republican, REUTERS, Constitution, Prosecutors, U.S . Constitution, Democratic, Trump, Saturday, Name, White, Capitol, Washington , D.C, Thomson Locations: Columbia , South Carolina, U.S, WASHINGTON, Washington, U.S ., Washington ,, West Virginia

REUTERS/Cheney OrrAug 4 (Reuters) - U.S. prosecutors flagged a threatening social media post from Donald Trump in a late-night court filing on Friday, arguing that it suggests he might intimidate witnesses by improperly disclosing confidential evidence received from the government. On his Truth Social site, the former president wrote, "IF YOU GO AFTER ME, I'M COMING AFTER YOU!" The prosecutors' filing asked U.S. District Judge Tanya Chutkan to issue a protective order prohibiting Trump and his lawyers from sharing any discovery materials with unauthorized people. Protective orders are routine in cases involving confidential documents, but prosecutors said it was particularly important to restrict public dissemination given Trump's social media statements. He faces a possible fourth indictment in Georgia, where Atlanta prosecutors have been investigating his efforts to overturn the election results there.

Persons: Donald Trump, Cheney Orr, Democrat Joe Biden, Jack Smith, Trump, Tanya Chutkan, Joseph Ax, Simon Cameron, Moore Organizations: U.S, Republican, REUTERS, Democrat, Trump, Thomson Locations: Montgomery , Alabama, U.S, Washington, Miami, Manhattan, Georgia, Atlanta

Trump, the front-runner for the 2024 Republican presidential nomination, also waived his right to be present in Florida federal court for his arraignment on the three additional charges on Aug. 10. The action came a day after Trump appeared in federal court in Washington to plead not guilty to separate charges that he orchestrated an illegal plot to try to overturn his 2020 election loss. Trump now faces 40 charges in the documents case after originally being indicted on 37 counts last month. He was indicted for the third time on Tuesday in Washington federal court regarding his efforts to overturn his 2020 presidential election loss. That case and the documents case are being pursued by Special Counsel Jack Smith.

Persons: Donald Trump, Read, Trump, Walt Nauta, Carlos De Oliveira, Nauta, De Oliveira, Jack Smith, Katharine Jackson, Doina, Will Dunham, Tim Ahmann Organizations: U.S, White House, Trump, Mar, Prosecutors, Thomson Locations: WASHINGTON, Florida, Washington, Lago, Palm Beach , Florida, New York, Fulton County , Georgia

Citing its historical significance, he said this first hearing in the Washington case had implications for American democracy. “It’s a sad day but it’s also a day when justice begins,” he said. A resident of Ellicott City, Maryland, about an hour's drive from Washington, Arreaza aims to study political science and law in college. Trump was due to face charges he led a wide-ranging conspiracy to overturn his 2020 election loss to President Joe Biden. “We’re here to support Donald Trump, to show, you know, show our support, our love for our man," he said, declining to give his full name.

Persons: Trump, Donald Trump, Read, Donald Trump's, Sam Arreaza, “, it’s, ”, Joe Biden, Biden, Leah Krieger, Krieger, Jan, Dion Cini, Cini, they’re, Andrew Goudsward, Jacqueline Thomsen, Jack Queen, Noeleen, Howard Goller Organizations: U.S, U.S . Capitol, Trump, Democrat, Republican, Secret Service, Reuters, Thomson Locations: Washington , U.S, WASHINGTON, Washington, Ellicott City , Maryland, U.S, Denver, York, New York

Lawyers for Donald Trump were told Thursday by prosecutors to expect an indictment against the former president in connection with his efforts to reverse his loss in the 2020 election, NBC News reported. At around the same time, the grand jury that could soon vote on criminally charging Trump assembled in Washington federal court. A number of those anonymous grand jurors were spotted in the cafeteria and then going to the grand jury room on the courthouse's third floor, according to NBC. Trump last week revealed that Smith had told his lawyers on Sunday that the former president was a criminal target of that investigation and had been offered a four-day window to testify to the grand jury. Smith in early June obtained a grand jury indictment of Trump in Florida federal court on several dozen criminal counts related to his retention of classified government documents at his Mar-a-Lago club after he left office in early 2021.

Persons: Jack Smith, Donald Trump, Todd Blanche, John Lauro, Trump, Barrett Prettyman, Smith, Joe Biden, Biden, wasn't, Peter Carr Organizations: US Department of Justice, Lawyers, NBC News, Washington , D.C, Department of Justice, NBC, Justice, Electoral College, Congress, Trump Save America, Department, CNBC, Trump Locations: Washington ,, Washington, Trump, Florida, Lago

☆ Analysis: Titanic sub victims' families could still sue despite liability waivers
▼ + stars: | 2023-06-22 | by ( Jack Queen | ) www.reuters.com time to read: +4 min

June 22 (Reuters) - Liability waivers signed by passengers on a submersible lost at sea during a dive to the Titanic wreck may not shield the vessel's owner from potential lawsuits by the victims' families, legal experts said. The Titan submersible vanished on Sunday roughly two hours into its dive and was found in pieces on the ocean floor after what the U.S. Coast Guard said on Thursday was a "catastrophic implosion" of its pressure chamber. The passengers, who paid as much as $250,000 each for the journey to 12,500 feet (3,810 meters) below the surface, are believed to have signed liability waivers. If OceanGate were to fail in such a case, families would be free to file negligence or wrongful death lawsuits. Reporting by Jack Queen; Editing by Amy Stevens and Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: OceanGate, ”, Matthew D, Shaffer, Joseph Low of, David Lochridge, Jack Queen, Amy Stevens, Daniel Wallis Organizations: U.S . Coast Guard, CBS, OceanGate Expeditions, Reuters, American Bureau of Shipping, Thomson Locations: Texas, Joseph Low of California, Everett , Washington, Washington

☆ Boeing sued over alleged theft of IP, counterfeiting of tools used on NASA projects
▼ + stars: | 2023-06-07 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +4 min

The company's lawsuit centers around multiple custom-designed tools that Wilson says it created for Boeing. Boeing, in turn, "rewarded Wilson's efforts by brazenly stealing" the IP related to multiple devices, the complaint says. The company brought 10 claims against Boeing, including claims of copyright infringement, misappropriation and theft of trade secrets, and fraud. "We fully believe that there are other companies, probably small American-owned companies, that have been affected by this same activity inside Boeing," Wilson lawyer Flowers told CNBC. Read the full copy of Wilson's complaint below:

Persons: Wilson, Pete Flowers, David Wilson, Lance Astrella, Lockheed Martin, Flowers Organizations: Wilson Aerospace, Boeing, CNBC, NASA, Space Station, SLS, Space Shuttle, Lockheed Locations: Colorado, Washington

☆ A Texas judge's abortion pill ruling was 'extraordinary' because it let doctors ban a drug they neither use nor prescribe, the DOJ said in a bid to reverse the decision
▼ + stars: | 2023-04-10 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +5 min

The Justice Department filed an emergency motion seeking a stay on last week's abortion pill ruling. Anti-abortion activists lacked standing to challenge FDA approval of the drug, the department says. But anti-abortion doctors are neither in a position to use nor prescribe mifepristone, the DOJ said. Feds criticize anti-abortion studyIn their filing, Justice Department lawyers also took aim at the sources Judge Kacsmaryk cited to justify his decision. The Justice Department, in turn, described the source as "an article" that was "based entirely on fewer than 100 anonymous blog posts submitted to a website titled 'Abortion Changes You.'"

☆ 3 reasons big bank earnings are super important to the stock market in the week ahead
▼ + stars: | 2023-04-08 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

There are two big watchers on our list for the week ahead, and one of them — believe it or not — is not an inflation reading. The consumer price report (CPI), which calculates the average change over time in prices shoppers pay for goods and services, comes out Wednesday before the opening bell. Other data next week includes the producer price index report on Thursday and the retail sales report on Friday. ET: Consumer Price Index 2:00 p.m. The most important macroeconomic update of the week came on Friday while the market was closed for Good Friday.

☆ Leonardo DiCaprio Testifies at Pras Michel’s 1MDB Trial
▼ + stars: | 2023-04-03 | by ( Byron Tau | Aruna Viswanatha | ) www.wsj.com time to read: 1 min

Actor Leonardo DiCaprio, who has been friends with rapper Pras Michel for years, hasn’t been accused of any crime. WASHINGTON—Actor Leonardo DiCaprio appeared in a Washington federal courthouse on Monday to testify in a closely watched criminal case featuring a potent mix of celebrity, money and geopolitical intrigue. The Academy Award-winning star of blockbusters such as “Titanic,” “The Revenant” and “Catch Me If You Can” appeared as a witness in a sprawling Hollywood-meets-Washington trial against the rapper Pras Michel , a founding member of the hip-hop trio the Fugees.

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