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☆ Diving in the Titan ‘was never supposed to be safe,’ mission specialist says of the experimental submersible
▼ + stars: | 2024-09-20 | by ( Alaa Elassar | Graham Hurley | ) edition.cnn.com time to read: +6 min

CNN —Four days of hearings on the 2023 implosion of the Titan submersible which killed all five people on board concluded this week with more damning testimony recounting multiple safety incidents over the years. Lahey said he saw the Titan in March 2019 while in the Bahamas and was “not impressed,” and told OceanGate staff members how he felt about it. I saw evidence where they were crimping cables to hold on weights, it just looked amateurish in its execution,” he said. “Anyone that felt safe going to depths in the Titan was deluded or delusional, it was an experimental vessel, it was clear that it was dangerous,” said Hagen. David Lochridge, a former director of marine operations for OceanGate who expressed safety concerns about the ill-fated Titan submersible, said during his testimony earlier this week the Titan tragedy could have been prevented if US safety authorities had investigated his complaints.

Persons: Patrick Lahey, Lahey, “, ”, OceanGate, ” OceanGate, Rush, ” Fred Hagan, Corey Connor, ” Lahey, Fred Hagen, Hagen, Antonella Wilby, Wilby, that’s, ” Steven Ross, Ross, OceanGate . Rush, David Lochridge, ” Lochridge Organizations: CNN, Titan, Triton, Triton Submarines, Stockton Rush, imploding, Marine Technology Society, MTS, OSHA Locations: Bahamas, North Charleston , South Carolina

☆ Titan submersible malfunctioned days prior to the fatal dive, former scientific director testifies
▼ + stars: | 2024-09-19 | by ( Alaa Elassar | Graham Hurley | ) edition.cnn.com time to read: +2 min

CNN —A former OceanGate scientific director said the Titan submersible suffered a malfunction six days before imploding in June 2023, killing all five people on board. The dive was aborted because, upon resurfacing, a platform malfunction caused by an issue with the variable ballast tank, which controlled the submersible’s buoyancy, caused the platform to invert to 45 degrees with the back bow facing upward. Because the platform malfunction took considerable time to correct, the dive was aborted and they returned to the surface to fix the issue. He said he knew the Titan submersible had not been inspected by the United States Coast Guard in 2021, 2022 or 2023. Ross also mentioned two incidents during the 2022 Titanic expedition dives, including a loud bang heard while surfacing in Dive 80.

Persons: CNN —, Steven Ross, ” Ross, Rush, Ross, could’ve, Scott Griffith, Griffith Organizations: CNN, Titan, imploding, Stockton Rush, United States Coast Guard

☆ John Lansing, Who Guided NPR Through Tumultuous Times, Dies at 67
▼ + stars: | 2024-08-23 | by ( Clay Risen | ) www.nytimes.com time to read: +1 min

John Lansing, who as chief executive of NPR from 2019 until earlier this year guided the broadcasting organization through a global pandemic, an imploding media landscape and widening political polarization that called into question some of its journalistic principles, died on Aug. 14 at his home in Eagle River, Wis. An NPR representative confirmed the death but did not cite a cause. Mr. Lansing, who had been in the news business since he graduated from high school, arrived at NPR with a mission to broaden its reach beyond traditional radio into media like podcasts and newsletters. He also announced what he considered his “north star”: a commitment to expand NPR’s audience to include a younger and more diverse demographic, and a parallel commitment to diversify, equity and inclusion in its coverage, sources and staff. His changes included documenting the diversity of sources, introducing unconscious bias training and hiring people of color for both on- and off-air positions.

Persons: John Lansing, Lansing Organizations: NPR Locations: Eagle River, Wis

☆ Secret to Startup Success: Being an Obnoxious Risk-Taker
▼ + stars: | 2024-08-13 | by ( Nate Silver | ) www.businessinsider.com time to read: +11 min

Of the billionaires on the 2023 Forbes 400 list — the 400 richest people in the United States — 70% are basically self-made. In 1982, only 40% of the Forbes 400 had started their own business; the majority were simply scions of inherited wealth. The Forbes 400, however, is the extreme right tail of the curve. But you're not sniffing the Forbes 400 list, where the bidding starts at about $3 billion. I don't think VCs are deliberately picking founders they think are unreliable, although sometimes it seems like it.

Persons: Raj Chetty, That's, Chamath Palihapitiya, Palihapitiya, Josh Wolfe, Wolfe, Elon Musk, Thiel, Jeff Bezos, we're, Sam Bankman, Andreessen Horowitz, A16z, Adam Neumann, Neumann, WeWork, Marc Andreessen, Ben Horowitz, Horowitz, they've, Benchmark's Gurley, Gurley, Nate Silver Organizations: Forbes, United States —, Social Capital, Burger, Lux, VCs, New York Times, Penguin Press, Penguin Publishing, Penguin Random Locations: United States, America, Sri Lanka, Canada, Coney, Israeli, Silicon, Canyon Point , Utah

☆ The US economy faces a new threat
▼ + stars: | 2024-07-10 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

‘The labor market may be turning’To be clear, the jobs market is by no means imploding. Powell highlighted these changes, telling lawmakers that recent indicators “send a pretty clear signal that labor market conditions have cooled considerably” from two years. The current risk is that the Fed is injecting inflation-fighting medicine into an economy that no longer needs it. “A balanced labor market with too restrictive rates from the Fed will not remain balanced for long,” Brusuelas said. “Equally as worrisome for the Fed should be the potential for a sharper deterioration in the labor market and economic activity.

Persons: it’s, ”, Joe Brusuelas, Mark Zandi, ” Zandi, “, Jerome Powell, ” Powell, Jobs, Powell, ” Brusuelas, Ken Kim, Kim, ” Kim, Donald Trump’s, Zandi, Fed Organizations: New, New York CNN, Federal, RSM, “, Moody’s, Fed, CNN, KPMG Locations: New York, Russia, Ukraine

☆ Venture firms could be the latest target for AI disruption, and that's not the only threat to VCs
▼ + stars: | 2024-06-24 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at how AI could completely upend venture capitalism amid a wider shakeup for the industry . The generative AI boom was a welcome change for a venture industry looking for a new trend to back (and hopefully profit from). Some of the adjustments aren't novel to the VC industry. ACME Capital; Getty Images, Chelsea Jia Feng/BIThe VC industry might be doomed with or without AI. AdvertisementScott Stanford, a cofounder and partner at early-stage VC firm ACME Capital, told BI's Blake Dodge that half of today's VC firms will shutter in the next decade .

Persons: —, VCs zentilia, Jenny Chang, Rodriguez, Insider's Ben Bergman, Ben, Long, Scott Stanford, Chelsea Jia Feng, BI's Blake Dodge, Hany Nada, Jared Siskin, Bobby Jain's, Jonathan Barton, Jain, Rebecca Zisser, OpenAI, Apple, Elif, Jeff Bezos, Robert Winnett, Will Lewis, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Grace Lett, Amanda Yen Organizations: Service, Business, ACME, Getty, ACME Capital, Stanford, BI, Madison, Conservancy, Jain, EV, Ford, European, Regulators, Anadolu Agency, Getty Images, Washington, Harvard, Leagues Locations: today's, Wall, Saudi, Saudi Arabia, Europe, Brazil, Southeast Asia, London, American, Paris, New York, Chicago

☆ Jeff Bezos' plan for The Washington Post is imploding
▼ + stars: | 2024-06-21 | by ( Kieran Corcoran | Chris Johnston | ) www.businessinsider.com time to read: +1 min

Jeff Bezos is trying to end a financial catastrophe at The Washington Post, employing new leaders. But on Friday a crucial player, Robert Winnett, decided not to join and helm the newsroom after all. AdvertisementJeff Bezos has grand plans to remake The Washington Post. The incoming editor for the newsroom — Robert Winnett, the golden boy of the UK's Daily Telegraph newspaper — pulled out of the job Friday morning. He ditched the role after a slew of revelations about his own past as a writer in London and that of Will Lewis, the Washington Post publisher and old friend who tapped him for the top job.

Persons: Jeff Bezos, Robert Winnett, —, Will Lewis Organizations: Washington Post, Service, Daily Telegraph, Business Locations: London

☆ Op-ed: How activist investors are deactivating with proxy battle losses
▼ + stars: | 2024-05-23 | by ( Jeffrey Sonnenfeld | Steven Tian | ) www.cnbc.com time to read: +7 min

Whether today's activist investors contribute any genuine economic value is open for debate. As this year's proxy season draws to a close, defeat after defeat for activist investors in proxy fights this year – most prominently at Disney and Norfolk Southern – raises the question: Are activist investors increasingly getting de-activated, losing their credibility and power? These self-styled "activist investors" are distinct from the original activists who helped catalyze needed governance reforms two decades back. Many of today's activist investors are a far cry from the original, heroic crusaders for shareholder value who pioneered the activism space decades ago. However, given the failing financial performance of many of today's activist investors, their losing streak in proxy fights and increasing public rejection of their bullying tactics, the credibility and value of activist investors writ large is increasingly imperiled.

Persons: Nelson Peltz's, Ed Garden, Ralph Whitworth, John Biggs of TIAA, John Bogle of, Ira Millstein, Weil, Nell Minow, Bob Monks, Harvard's Stephen Davis, Carl Icahn's, Aubrey McClendon, –, Bill Cohan, Jamie Dimon, Glass Lewis, resoundingly, Mason Morfit's ValueAct, Jeffrey Sonnenfeld, Lester, Steven Tian Organizations: CNBC, Salesforce, Dow Jones, Disney, Norfolk Southern, Relational Investors, John Bogle of Vanguard, Services, Chesapeake, Norfolk, JetBlue, Elanco, of Institutional Investors, United Shareholders Association, Responsibility Research, ISS, Lester Crown, Management, Yale University, Yale's, Institute Locations: Norfolk Southern, greenmailers, America

☆ Johnson Needs Democrats on Ukraine, Handing Them Power to Shape Aid Plan
▼ + stars: | 2024-04-17 | by ( Annie Karni | ) www.nytimes.com time to read: +1 min

Speaker Mike Johnson’s elaborate plan for pushing aid to Ukraine through the House over his own party’s objections relies on an unusual strategy: He is counting on House Democrats and their leader, Representative Hakeem Jeffries of New York, to provide the votes necessary to clear the way for it to come to the floor. Given Republicans’ tiny margin of control, Mr. Johnson will need their support on the aid itself. But before he even gets to that, he will need their votes on a procedural motion, known as a rule, to even bring the legislation to the floor — an unconventional expectation of the minority party. That puts Democrats once again in a strange but strong position, wielding substantial influence over the measure, including which proposed changes, if any, are allowed to to be voted on and how the foreign aid is structured. After all, Mr. Johnson knows that if they are unsatisfied and choose to withhold their votes, the legislation risks imploding before it even comes up.

Persons: Mike Johnson’s, Hakeem Jeffries, Johnson Organizations: Democrats Locations: Ukraine, New York

☆ Jim and Pam Knew How to Survive a Soul-Crushing Office
▼ + stars: | 2024-04-08 | by ( Alexandra Molotkow | ) www.businessinsider.com time to read: +20 min

Office crushes, in all their mercurial glory and pain, continue to shape our working lives in deeply meaningful ways. But through all these changing norms, workplace crushes remain remarkably common. Jim, after all, doesn't even ask Pam on a date until the season-three finale of "The Office." That most workplace crushes never lead to consummated relationships doesn't make them any less powerful. An admitted serial crusher, she still gets work crushes — last year she counted "a solid eight."

Persons: Derek, Brendan, Michael Rosenfeld, Manny, Sean Horan, we're, she'd, Karis, Stefan, Darcy, —, Helen Fisher, Lakshmi Rengarajan, Rengarajan, smolder, Jim, Pam, I've, it's, I'd, Slack, Mikel Jaso, didn't, couldn't, weirdly, they'd, Johnny C, Taylor Jr, MeToo, Ayear, Tiana Reid, texted Derek, Alexandra Molotkow Organizations: Society for Human Resource Management, Stanford, Fairfield University, Match.com, BI Karis, Society for Human, York University Locations: New York City, Singapore, Brendan's, New York, Chicago, Toronto

☆ Citadel's relocation to Miami was a success. But can Ken Griffin get the rest of Wall Street to do it?
▼ + stars: | 2024-03-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at how two of the most powerful Wall Street firms are doing two years after relocating to Miami . Nearly two years ago the billionaire uprooted his hedge fund, Citadel, and market maker, Citadel Securities, from their Chicago headquarters to Miami. Employees at Citadel and Citadel Securities spoke to Business Insider's Emmalyse Brownstein about life in the new HQ . Shares tumbled 55% after The Wall Street Journal reported that Fisker had hired restructuring advisors to assist with a possible bankruptcy filing.

Persons: —, we're, sarayut Thaneerat, Tyler Le, Ken Griffin, Samantha Lee, San Francisco, Griffin, Anita Kot, Dogecoin, Elon Musk, Ned Davis, Fisker, Patrick Pleul, Andrew Cabellero Reynolds, Jenny Chang, Rodriguez, Sam Altman, Muhammad Ali, Steven Mnuchin, BI's Peter Kafka, Ezra Bailey, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Business, Wall, Citadel, Citadel Securities, Sunshine State, Miami, New York, Ned Davis Research, Street Journal, Elon, OpenAI, Google, KKR, Benz Locations: Miami, Florida, Chicago, New York, London, York, Plenty, San, Austin, He's, Blackstone

☆ China's economy looks like a mess — but some sectors are quietly doing well in its '2-speed economy'
▼ + stars: | 2024-02-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

Meanwhile, its financial markets are bleeding, the property market has gone up in smoke, local government debt appears alarming, and foreign investors are exiting in droves. Real estate — which was a huge part of China's economy — has been hit badly, he said. AdvertisementTravel has picked up after years of pandemic lockdownServices is another pillar of China's economy that Beijing has been trying to build up. AdvertisementThis is in part because new growth industries are not able to take the place of real estate — yet. Because the property market accounts for one-quarter of China's GDP and more than two-thirds of household wealth, its overall drag on China's economy is much greater than whatever is doing well right now.

Persons: —, Rory Green, GlobalData.TS Lombard, AllianceBernstein, John Lin, Lin, Donald Trump's, Louise Loo, Wood Mackenzie, AllianceBerstein's Lin, Nomura, Loo Organizations: Service, Business, Bloomberg TV, Oxford Economics, Nomura, Oxford Locations: China, GlobalData.TS, Real, COVID, Beijing, Europe, Taiwan, South Korea

☆ Why Congressional Republicans are imploding before our eyes
▼ + stars: | 2024-02-07 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +6 min

Look no further than Tuesday night when House Republicans plowed ahead with two votes that they didn't have to hold. AdvertisementAcross the Capitol, Senate Minority Leader Mitch McConnell is facing increasing calls for him to step aside after conservatives nuked a bipartisan border security-Ukraine aid deal that some Republicans themselves said they had wanted. After all, it was Trump who instructed Republicans to kill the bipartisan immigration deal before the text was actually released. "Politics used to be the art of the possible," Sen. Mitt Romney, a Utah Republican, told reporters, per Semafor. "Some of them have been very clear with me that they have political differences with the bill," Lankford said in a floor speech on Wednesday.

Persons: Mike Johnson, befuddled, Al Green, it's, Johnson, Mitch McConnell, nuked, McConnell, Trump, Donald Trump, George W, Bush, Sen, Mitt Romney, We've, James Lankford, Lankford, Joe Biden Organizations: Service, Republicans, Republican Party, Business, GOP, Texas Democrat, Politico, Democratic, Democratic Senate, Utah Republican, Chamber of Commerce, Border Patrol Union, Trump, Oklahoma Republican Locations: Washington, Texas, Ukraine, Iraq, Utah, Oklahoma

☆ How a botched impeachment laid bare a GOP House that cannot function
▼ + stars: | 2024-02-07 | by ( Stephen Collinson | ) edition.cnn.com time to read: +9 min

And it raised serious doubts over the GOP’s capacity to pull off another politized maneuver designed to please the former president – an impeachment of President Joe Biden. The malpractice of Johnson’s impeachment team was encapsulated by Democrats outmaneuvering them to bring a shoeless Rep. Al Green, who was recovering from surgery, to the chamber in a wheelchair to cast a dramatic vote. Losing the ability to governThe House GOP meltdown came as this divided, angry Congress’ capacity to govern at the most basic level appears to be imploding. But the most Trumpy wing of the House GOP has other concerns. But Tuesday’s confusion shows that a House majority dominated by extremism and exhibitionism is not an operable majority.

Persons: Mike Johnson’s speakership, –, Alejandro Mayorkas, Donald Trump’s, Joe Biden, outmaneuvering, Al Green, Johnson, Biden, ”, Trump, Oklahoma Sen, James Lankford, – Johnson, Mayorkas, ” It’s, it’s, “, Elise Stefanik, —, Steve Scalise, Kevin McCarthy, California — Organizations: CNN, Homeland, Israel, GOP, House Republicans, Republicans, Democratic, Trump, Congress, Capitol Locations: Ukraine, Taiwan, Oklahoma, Israel, Russia, China, California, New York, Washington, America

☆ Why Capitol Hill is a total failure right now
▼ + stars: | 2024-02-06 | by ( Zachary Wolf | Analysis Zachary B. Wolf | ) edition.cnn.com time to read: +5 min

CNN —A plague on both these houses:The Senate seems to lack the political will for a bipartisan border deal. The House lacks an effective majority for a partisan impeachment effort as GOP leaders scramble for votes. Except, as the vote approached, they seemed to realize they might not have the votes to impeach Mayorkas after all. The only other time a Cabinet member was impeached, back in 1876, it was with a unanimous House vote. With hours to go before the Mayorkas impeachment vote is set to occur, there is a real possibility it could fail, and it can only pass by the slimmest of margins.

Persons: Joe Biden, Alejandro Mayorkas, Mayorkas, Ken Buck, Ken Buck of Colorado, Tom McClintock of, “ Maladministration, ” Buck, ” McClintock, –, Donald Trump, CNN’s Dana Bash, Sen, James Lankford of, “, ”, “ I’m, ” Lankford, Mike Johnson doesn’t, ” Johnson, Biden Organizations: CNN, Republicans, Democratic, White, House Republicans, Homeland, Senate Democratic, US, Republican, Biden, MAGA Republican Locations: Ukraine, Israel, Taiwan, Mexico, Central, South America, Ken Buck of, Tom McClintock of California, James Lankford of Oklahoma, “

☆ Tesla stock drops as investors scrutinize board’s close personal ties to Elon Musk
▼ + stars: | 2024-02-05 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

Ehrenpreis is also a close friend to Kimbal Musk, Elon’s brother, who is also a Tesla board member. In another instance, the judge emphasized the role of Tesla’s general counsel Todd Maron — who was previously Musk’s divorce lawyer — in advising Tesla’s board and compensation committee. Maron was “totally beholden to Musk,” McCormick wrote in her ruling last week, adding that Maron’s admiration for Musk “moved him to tears” during both his deposition and in trial testimony. Maron’s team prepared “an aggressive timeline for approving a compensation plan,” McCormick wrote in her more than 200-page ruling. The break-neck speed of the process “reflected a reckless approach to a fiduciary process.”Robyn Denholm, the Tesla board chair, doesn’t appear to have had any personal relationship with Musk outside of her service on the board, McCormick wrote.

Persons: New York CNN — Tesla, Elon Musk’s, Judge Kathaleen McCormick, Musk, Ira Ehrenpreis, Kimbal, Ehrenpreis, Antonio Gracias, McCormick, Tesla’s, Todd Maron —, —, Maron, “, ” McCormick, Musk “, Maron’s, Robyn Denholm, Denholm, can’t, ” Tesla, Tesla, Monday’s selloff, Piper Sandler, Gordon Johnson, ” Johnson, Elon, ” Organizations: New, New York CNN, Elon, The, Gracias, Nasdaq, GLJ, CNN Locations: New York, Delaware, Spain, Kimbal’s

☆ Facing Rematch With Biden, Trump Stays Focused – on Obama
▼ + stars: | 2023-11-24 | by ( Susan Milligan | ) www.usnews.com time to read: +6 min

For former President Donald Trump, all political signs point to a rematch with President Joe Biden, who defeated Trump in 2020 and increasingly has targeted Trump in his campaign ads. "They were interviewing [Orban] two weeks ago, and they said: 'What would you advise President Obama? He should immediately resign and they should replace him with President Trump, who kept the world safe,'" Trump said, implying that his predecessor was still in office. Editorial Cartoons on Donald Trump View All 695 Images"We did it with Obama,” Trump claimed during a speech in Washington, D.C., referring to his winning 2016 campaign against Clinton. You know Obama and Biden,” Trump said, trying to recover.

Persons: Donald Trump, Joe Biden, Trump, Barack Obama, –, Obama, Biden, Harold Holzer, " Holzer, Alexandria Ocasio, Cortez, Ilhan Omar, Minnesota, Viktor Orban, Orban, couldn't, Hillary Clinton, ” Trump, Clinton, “, couldn’t, “ It’s, Barack Hussein Obama, ”, Brian Kilmeade, ” Kilmeade, Guess, Kilmeade, He’s, Barack Obama’s, Obama lunched, Jeffrey Engel, Engel, Michal Cohen, Cohen Organizations: Trump, House, White House, Association, Roosevelt, Public, Hunter College, Republican Party, GOP, Obama, Donald Trump View, Washington , D.C, White, Fox, Fox News, Democratic, Center, Southern Methodist University in, Republican National Convention, Republican Locations: Alexandria, Cortez of New York, New Hampshire, Hungary, United States, Iowa, Washington ,, Israel, Iran, Southern Methodist University in Texas

☆ Argentina investors on edge as Milei decides who to put in economic hot seat
▼ + stars: | 2023-11-20 | by ( Jorgelina Do Rosario | Thomson Reuters | Jorgelina Do Rosario Is Emerging Markets Correspondent At Reuters Based In London | ) www.reuters.com time to read: +4 min

"Who is appointed...as central bank president and economy minister, and the details of an urgent economic stabilization plan without a majority in Congress, will be the key for asset prices in the days ahead." The Economy Ministry is always a hot seat, with Argentina a nine-time debt defaulter caught in a decades-long boom-and-bust cycle. Milei will take office on Dec. 10 after beating ruling Peronist coalition Economy Minister Sergio Massa. "Milei said that he is going to reorganize the central bank instead of imploding it or shutting it down. The new economy minister will have to negotiate a new programme with the IMF "relatively quickly" to avoid entering arrears with the fund, Morgan Stanley said on Monday.

Persons: Milei, Macri, Javier Milei, Milei's, embolden Milei, Armando Armenta, defaulter, Sergio Massa, Hans Humes, Humes, Carlos Rodriguez, Roque Fernandez, Dario Epstein, Emilio Ocampo, Mauricio Macri, Juan Manuel Pazos, Pazos, Morgan Stanley, Morgan Stanley ´, Massa, Jorgelina, Adam Jourdan, Kirsten Donovan Organizations: Monetary, Ministry, Peronist, Economy, Greylock Capital Management, Reuters, Thomson Locations: BUENOS AIRES, South, AllianceBernstein, New York, Argentina, Argentine, Buenos Aires, Washington, refinance, Santiago del Estero, Formosa, Rosario

☆ Opinion: Trump’s mental gaffes can’t be ignored
▼ + stars: | 2023-11-13 | by ( Opinion Dean Obeidallah | ) edition.cnn.com time to read: +7 min

CNN —Longtime political analyst Larry Sabato was asked by CNN anchor Jim Acosta this weekend about former President Donald Trump’s increasingly frequent mental lapses. In response, Sabato told Acosta the truth: Trump’s supporters “don’t care” if he’s lost a step or two. They thought Bush because Bush supposedly was a military person — great.” He then added about Bush, “He got us into the Middle East. In that same speech, Trump also erred in telling the audience that Orban’s nation shared a border with Russia. Thank you very much.”The problem was that Trump was in Sioux City, Iowa — not in Sioux Falls, a city in South Dakota.

Persons: Dean Obeidallah, CNN —, Larry Sabato, Jim Acosta, Donald Trump’s, Barack Obama — alarmingly, Sabato, Acosta, “, he’s, Trump, ” Sabato, Barack Obama, Joe Biden, Obama, ”, couldn’t, “ Hillary Clinton ’, Biden, Jeb Bush, George W, Bush, Viktor Orban, Viktor Orban —, He’s, ” Trump, Orban, Hungary, Recep Tayyip Erdoğan, Sen, Brad Zaun, Obama ”, — Obama, Florida Gov Ron DeSantis, Donald Trump, won’t, — Organizations: CNN, CNN — Longtime, White, Trump, Republican, “, South, GOP, Iowa Republican, Florida Gov, Democratic Locations: United States, South Carolina, Florida, Iraq, New Hampshire, Turkey, Russia, Hungary, Sioux, Sioux City , Iowa, Sioux Falls, South Dakota, Iowa, Sioux City, Claremont , New Hampshire

Listen and follow The DailyApple Podcasts | Spotify | Amazon MusicWarning: this episode contains some explicit language. When Adidas terminated its multibillion-dollar partnership with Kanye West over his antisemitic and other offensive public remarks, it seemed like a straightforward story of a celebrity’s suddenly imploding. But a New York Times examination has found that, behind the scenes, the collaboration was fraught from the start. Megan Twohey, an investigative reporter for The Times, talks about what she discovered when she delved into the meltdown.

Persons: Megan Twohey Organizations: Spotify, Adidas, Kanye West, New York, The Times

Prosecutors in the criminal trial against FTX founder Sam Bankman-Fried compared one of the defense's arguments to a scene in the 1994 film "Dumb and Dumber," in which actor Jim Carrey says IOUs are "as good as money." Funds also allegedly went to paying for things such as a $35 million property in the Bahamas and political donations. Customers were ultimately unable to retrieve much of their money as FTX and Alameda were simultaneously imploding. In a footnote, the prosecution writes, "A popular movie from the 1990s illustrates the point: a briefcase, once filled with money, is not the same as a briefcase later filled with IOUs." In "Dumb and Dumber," when the briefcase reaches its owner, it's filled with paper.

Persons: Sam Bankman, Jim Carrey, IOUs, Judge Lewis Kaplan, who's, Carrey, Jeff Daniels, transact, Lloyd Christmas Organizations: Prosecutors, FTX, Manhattan, Southern, of, York, Alameda Research Locations: Manhattan, New York City, Colorado, Bahamas, Alameda

People walk past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. Going by Wall Street's decline on Thursday, sparked by a spike in long-dated U.S. bond yields following a weak 30-year auction, the mood will be one of caution, at best. Annual producer price inflation has been negative for a year, although consumer inflation only briefly dipped below zero in July. On Thursday the yield curve flattened the most in a single day since March, a 'bull' flattening led by heavy buying of long-dated bonds. Here are key developments that could provide more direction to markets on Friday:- China PPI and CPI inflation (September)- China trade (September)- Singapore policy decision and GDP (Q3)By Jamie McGeever; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Jason Lee, Jamie McGeever, Stocks, Josie Kao Organizations: People's Bank of China, REUTERS, PPI, CPI, September's PPI, Reuters, Treasury, China PPI, Thomson Locations: Beijing, China, U.S, Singapore, South Korea, India

Eventually, according to Ellison, Bankman-Fried chose the one that omitted a line saying "FTX borrows," hiding $10 billion in borrowed customer money. When asked by Sassoon why she continued with the scheme, Ellison said, "Sam told me to." She said Bankman-Fried told her she should have hedged and, "speaking loudly and strongly," said it was her fault. CEO Sam Bankman-Fried Bloomberg | Bloomberg | Getty ImagesEllison then went into her own emotional state. After all the movement of FTX money, the company only had $4 billion to cover $12 billion in customer holdings, she said.

Persons: Caroline Ellison, Yuki Iwamura, Sam Bankman, Saudi Crown Prince Mohammed bin Salman, Ellison, Fried, Danielle Sassoon, Genesis, Gary Wang, Nishad Singh, Bankman, FTX, Mark Cohen, District Judge Lewis Kaplan, Jane Rosenberg, Sassoon, Sam, Mohammed bin Salman, Jane Street, Slack, she'd, who'd, sloppily Organizations: Alameda Research, Bloomberg, Getty, Saudi Crown, U.S, District, Federal Court, Reuters, Stanford, Bankman, Wall, Alameda, New York Times, MBS, Vox, Forbes, Twitter, Toyota Corolla, Fried Bloomberg Locations: New York, Bankman, Alameda, FTX, New York City, U.S, San Francisco Bay, Saudi, Japan

NEW YORK (AP) — For a while, Sam Bankman-Fried tried to convince politicians and the public that he was the next J.P. Morgan. The trial of Bankman-Fried, the founder of the failed cryptocurrency brokerage FTX, will begin Tuesday with jury selection. Political Cartoons View All 1190 ImagesThe 31-year-old Bankman-Fried founded FTX in 2019, and it grew rapidly. Bankman-Fried is expected come face-to-face with his former lieutenants at FTX for the first time since its collapse. She has previously said in a statement through her lawyers that she knew funneling FTX customers' money into Alameda was wrong.

Persons: Sam Bankman, Fried, Bernie Madoff, ”, Michael Zweiback, Zweiback, Zalduendo, FTX, SBF ”, J.P, Morgan, Tiger Woods, Justin Timberlake, Bankman, John Ray III, Caroline Ellison, Gary Wang, Ryan Salame, Salame, Ellison, funneling, Christine Adams, Adams, Andrew Ross Sorkin, Judge Lewis A, Kaplan, Changpeng Zhao, Larry Neumeister Organizations: Southern, of, Republicans, “ Prosecutors, Zalduendo LLP, Stanford University, Alameda Research, Alameda, Enron, FTX, Bankman, Prosecutors, The New York Times, NFTs, Securities and Exchange Commission, Binance, SEC Locations: Morgan, of New York, Washington, cryptocurrencies, Silicon Valley, FTX, The Bahamas, Albany, Alameda, Bahamas, New York, Palo Alto , California

Oct 2 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. But Chinese purchasing managers index data over the weekend, which pointed to mixed levels of services and manufacturing activity last month, may put a dampener on that. Investors will be looking to start the fourth quarter on a positive note after a pretty awful third quarter. Monday's batch of PMI reports include the latest snapshots from Australia, Japan and Indonesia, while Japan's closely watched 'tankan' survey of business sentiment and activity will also be released. Meanwhile, the Reserve Bank of Australia, Reserve Bank of New Zealand and Reserve Bank of India are all expected to keep their key interest rates on hold at 4.10%, 5.5% and 6.5%, respectively.

Persons: Jamie McGeever, Japan's, Richard Chang Organizations: U.S . Congress, PMI, Golden, Monetary, Reserve Bank of Australia, Reserve Bank of New, Reserve Bank of, Bank of Japan, Thomson, Reuters Locations: Beijing, Australia, Japan, Indonesia, India, New Zealand, South Korea, Philippines, Thailand, Taiwan, Reserve Bank of New Zealand, Reserve Bank of India

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