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☆ Boeing may be prosecuted after breaking safety agreement that prevented criminal charges for 737 crashes, US DOJ says
▼ + stars: | 2024-05-14 | by ( Evan Perez | ) edition.cnn.com time to read: +5 min

CNN —The US Justice Department on Tuesday notified Boeing that it breached terms of its 2021 agreement in which the company avoided criminal charges for two fatal 737 Max crashes. The notification comes as the Justice Department conducts a new investigation into Boeing’s operations in the wake the door plug incident. The earlier deal had resolved a fraud investigation related to the company’s development of its 737 Max aircraft. Under its deferred prosecution agreement from January 2021, Boeing paid $2.5 billion in penalties and promised to improve its safety and compliance protocols. In March, the FAA identified more potential safety issues with the engines of the 737 Max and 787 Dreamliner.

Persons: Max, “, Reed O’Connor, Biden, Paul Cassell, ” Cassell, ” Organizations: CNN, US Justice Department, Boeing, Alaska Airlines, Department of Justice, Justice Department, Max, Lion, Justice, Air Force, Transportation Safety Board, Federal Aviation Administration, FAA Locations: United States, Fort Worth , Texas

☆ Shein promised to tackle overwork. A new report claims 75-hour weeks are still common
▼ + stars: | 2024-05-13 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

“The 75-hour weeks that we found out about two years ago still seem to be common at Shein,” the Swiss organization said. Public Eye interviewed 13 textile workers employed at six factories in Guangzhou, a region in southern China, last summer. Shein does not reveal the identity of its suppliers, Public Eye said in its report. The group said it established that the factories were Shein suppliers through interviewees’ responses as well as the presence of Shein products. I can’t afford any more days off because it costs too much,” Public Eye cited one worker as saying.

Persons: London CNN —, Shein, “, ”, ” Shein Organizations: London CNN, Workers, Public, Public Eye, Wage, CNN Locations: Swiss, Guangzhou, China, ”

☆ MDMA therapy could be legalized by summer. Why are so many advocates sounding the alarm?
▼ + stars: | 2024-05-13 | by ( Anna Silman | ) www.businessinsider.com time to read: +52 min

Last summer, thousands of tie-dyed Burners and Patagonia-clad tech founders converged on the MAPS Psychedelic Science conference in Denver. The experience "broke the spell of this trauma, and she was able to rebuild her life," Doblin told The Guardian . The video team's job was to store recordings of every MDMA therapy session performed in the clinical trials. Grof believes in something called an "inner healing intelligence," an innate capacity for self-healing that psychedelic therapy helps unleash. Another time, a patient who had come to an MDMA therapy session later acknowledged they had been under the influence of LSD during treatment.

Persons: Jaden Smith, Aaron Rodgers, bro, Andrew Huberman, Rick Doblin, Doblin, mainstreaming psychedelics, influencers, Johnson, Elizabeth Nielson, Aubrey Marcus, ayahuasca, Matthew Stockman, Helena —, Timothy Leary, —, Hitler, Stanislav Grof, zombified, Brad Burge, Michael Mithoefer, Annie Mithoefer, Oprah, Sen, Joe Biden, MDMA's neurotoxicity, they'd, Albert Hofmann, David Bronner, Dr, Joe's, Bronner, Bronner's, Richard Rockefeller, John D, Rockefeller Jr, Rockefeller, Neşe, Johns Hopkins, who's, Devenot, Rick Friedman, Betty Aldworth, MAPS's multimillionaire, Tim Ferriss, Cody Swift, Zendo, Aldworth, Erica Siegal, Seth Whitelaw, Amy Emerson, JULIE JAMMOT, Ifetayo Harvey, Harvey, Lauren Unger, Unger, Casey Hardison, Harvey didn't, Hardison, Doblin's, Baylee Ybarra Gatlin, Gatlin, negligently, There's, Michael Pollan's, Steve Jurvetson, Elon Musk's who's, Genevieve, Steve Cohen, Alexandra, Mark Zuckerberg's, Dustin Moskovitz, Cari, Gwyneth Paltrow, Paltrow, Sergey Brin, Joe Green, Green, Zuckerberg, Genevieve Jurvetson, Michael Pollan, Jonathan Lubecky, he'd, Rebekah, Robert Mercer, Elizabeth Koch, Charles Koch, Rachel Nuwer, Koch, she'd, MAPS's, Elizabeth Crystal, Joe Rogan, didn't, Jesus Christ, Crystal, Meaghan Buisson, Richard Yensen, Donna, Yensen, Buisson, weren't, Robert, Rebekah Mercer, Sean Zanni, Grof, They've, Kayla Greenstien, it's, George Sarlo who'd, Vicky Dulai, Sarlo's, Dulai, Gul Dolen, Michael Mullette, who'd, Marla Aufmuth, Mullette, Lily Kay Ross, David Nickles, Ross, Greenstien, Rick, Lenny Ignelzi, biostatisticians, Lykos, Peter Thiel, Kara Swisher, Kris Lotlikar, Federico Menapace, Mo Septimus, Handout, Monnica, Williams, Lotlikar, Henry Elkus, Helena ., Elkus, Emerson, ICER Organizations: Science, New York Jets, rockstar, Multidisciplinary Association for Psychedelic Studies, Lykos Therapeutics, and Drug Administration, FDA, Business, Florida's New College, Jewish Telegraphic Agency, Sarasota Herald, Tribune, New College, Guardian, Drug, Harvard's Kennedy School of Government, eBay, Nevada, Doblin, Pentagon, Department of Veterans Affairs, Department of Defense, Staff, Corporation, PBC, pharma, New Yorker, New York Mets, Bloomberg, CBS, Breitbart, CBC News, BI, Porsche, Santa Cruz, New York Times, longtime, Mullette Corporation, New York, Health Canada, Compass, Sciences, Psychedelic Science, Whole Foods, McKinsey, Big Pharma, Vine Ventures, Lucid, Street Journal, Investments, Gawker, Publicly, PBC alums, Numinus, US Army Locations: Patagonia, Denver, Harvard, Colorado, Skokie , Illinois, Ireland, Czech, Sarasota, Arcturus, Florida, Swiss, Vietnam, Washington, Santa Cruz, Chicago, California, Iraq, British Columbia, New York, Hawaii, Santa, Nature, Moderna, Europe, Helena, Yale, Australia, Canada, Israel, Ukraine, ICER, . Upper

About 2,800 residents from the Northern Rockies Regional Municipality and about 450 residents from the Fort Nelson First Nation were asked to evacuate. Wildfire smoke has been linked to increases in certain cancers and heart-related issues, among other ailments. In 2023, 19 counties in 11 states had days with “very unhealthy” and “hazardous” air quality — given at least a “code purple” alert on the US Environmental Protection Agency’s Air Quality Index. Light rain showers were expected overnight Sunday with more rain forecast Monday, “which will help lower fire activity,” a Sunday update from Alberta Wildfire said. Fire restrictions will remain in effect in the area until conditions improve, according to Alberta Wildfire.

Persons: Parker, “, ” Ben Boghean, ” Cliff Chapman, Jaylene, Terry Cavaliere, ” Boghean, Paul, Crews Organizations: CNN, BC Wildfire Service, Northern Rockies Regional, Fort Nelson, Wildfire, Northern Rockies, Fort Nelson First Nation, Environment Canada, Canadian Interagency Fire Centre, Air, Environmental Protection Agency, US, Protection, British Columbia, Alberta, Reuters Residents, Estates, Lake Estates, Fort McMurray, Alberta Wildfire Locations: British Columbia, Fort Nelson, Northern Rockies Regional Municipality, Parker, Fort, Canada, Maryland, Alberta, Fort McMurray, Saskatchewan, Wisconsin, Minnesota, Minneapolis, St, United States, British, Grande Prairie Forest, TeePee Creek , Alberta, Regional, Wood Buffalo, Lake

☆ For US renters, the chance of owning a home is going from bad to worse
▼ + stars: | 2024-05-08 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +7 min

New York CNN —The American dream of homeownership is looking more like a nightmare. With inflation heating up again, the Federal Reserve is in no position to consider lowering interest rates at its upcoming meetings. That’s according to a New York Fed survey gauging consumers’ expectations of the housing market, released Monday. Consumers are gearing up for even bigger increases compared to the expected rise in mortgage rates over the next year, the New York Fed survey found. The issue of rent affordability is particularly pronounced in New York City, where housing costs have always been notoriously high compared to other parts of the country, absent a brief respite during the pandemic.

Persons: That’s, Kenny Lee, Aditya Bhave, Neel Kashkari, Bhave, ” Bhave, “, Perdue “, ”, Read, TikTok, Joe Biden, Brian Fung, Bytedance Organizations: CNN Business, Bell, New York CNN, Federal, New, Fed, Zillow, Bank of America, CNN, Minneapolis, Bloomberg, United States Department of Labor, Seaboard Triumph Foods, Perdue, Labor Department, Seaboard, Labor, Packers Sanitation Services, Appeals, District of Columbia Circuit Locations: New York, New York City, Fayette, DOL, Sioux City , Iowa, Accomac , Virginia, China

☆ I worked at SpaceX. It was the most ruthlessly efficient company I've ever worked for.
▼ + stars: | 2024-05-08 | by ( Jamie Killin | ) www.businessinsider.com time to read: +7 min

This is an as-told-to essay based on a transcribed conversation with Vincent Peters, founder of Inheritance AI and former SpaceX employee discussing his career path and experience at SpaceX. I was introduced to people on the SpaceX Mission team, and ultimately, they asked me to interview with them for a job at SpaceX. What it's like working at SpaceXSpaceX is the most efficient company I've ever worked for. AdvertisementThat mentality is how I started working on Starlink. In 2020, I asked to help and was allowed to work on their projects in addition to my work at SpaceX.

Persons: Vincent Peters, couldn't, Freddie Mac, I'd, Gwynne Shotwell, I've, it's, It's, We're Organizations: Service, SpaceX, Business, Federal Aviation Administration, US Government, SpaceX Mission, International, NASA, Department of Defense, SpaceX SpaceX, Elon Locations: West, cubicles, Elon

☆ Former MGM Grand casino president to be sentenced for failing to report bookie's bets
▼ + stars: | 2024-05-08 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Resorts World Las Vegas President Scott Sibella speaks during the opening of Resorts World Las Vegas on June 24, 2021 in Las Vegas, Nevada. The former president of the MGM Grand casino in Las Vegas is set to be sentenced Wednesday afternoon on a federal criminal charge related to his failure to report millions of dollars in wagers by an illegal bookmaker at his casino. Sibella's lawyers have asked that he be sentenced to probation, as have prosecutors. Sibella admitted knowing that a patron of his casino, Wayne Nix, ran an illegal bookmaking business, according to the Department of Justice. "Despite this knowledge, Sibella allowed Nix to gamble at MGM Grand and affiliated properties with illicit proceeds generated from the illegal gambling business without notifying the casino's compliance department," the DOJ said in January.

Persons: Scott Sibella, Sibella, Wayne Nix, Nix Organizations: Vegas, Resorts, MGM, Court, Department of Justice, MGM Grand, DOJ Locations: Vegas, Las Vegas , Nevada, Las Vegas, U.S, Los Angeles

☆ These are the top business-development execs competing to hire elite portfolio managers at hedge fund giants Citadel, Millennium, Point72, and more
▼ + stars: | 2024-05-08 | by ( Alex Morrell | ) www.businessinsider.com time to read: +34 min

Unlike business development in corporate America, which focuses on growing a company's prospects with partners and clients, hedge fund BD teams specialize in scouting, evaluating, and wooing investment talent. AdvertisementFew have been involved in hedge fund BD longer than Jennifer Blake, Balyasny's global head. The fund's BD department remains in close contact with PMs after they join as a resource and advisor. Vernon Yuen/Getty Images$61 billion AUM2,200+ employeesAdvertisementKen Griffin's Citadel has outperformed not just its immediate rivals but every other hedge fund. He runs a team of about 20 as head of business development in the Americas, the largest region of the largest player in this space.

Persons: —, Griffin's, Izzy Englander's, Goldman Sachs, Headcount, execs, Dmitry Balyasny, Brendan McDermid, Jennifer Blake, Balyasny's, Morgan Stanley, Dmitri Balyasny's, Blake, it's, Federico Chavarria, Balyasny, Dave Matz, Smith Hanley, Alistair Jacobs, Dave Black, Peter Appel, Federico Chavarria MD, Andrew McHugh, Jules Biolsi, Michael Platt, he's, BlueCrest, Michael Grad, Grad, Jake Lindsay, Mungo Strachan, BlueCrest's, Brevan Howard Brevan Howard, Alan Howard, Ringo Chiu, Brevan Howard, Alan Howard's, Aran Landy, Brevan, Abu, It's, Landy, Howard, Peter Hornick, David Abbou, Jonathan Candy, Gregoire Vidal, Vidal, Tim Williams, Andy Silver, Gautam, Ken Griffin, Vernon Yuen, Ken Griffin's, Griffin, Matt Giannini, Giannini, headhunter, Matt, I've, — Thomas DeAngelis, Lindsay Previdi, Rice, Dore, Eleanor Sharkey, Melinda Urban, Mark Hansen, Julian Ulmer, Mathur, Adam Sharkie, Michael Page, Eisler, Edward Eisler, Sam Wisnia, Chris Milner, Milner, Hilary Curran, Hilary Curran Global, Rebecca Zisser, Michael Gelband, Hornick, Jeff Gelband, Mike Tiano, Eric Han, Garrett Berg, Liu, APAC Blackstone, Euan Shand, Kevin Carroll, Emily, Needham, Ostendorf, Ben Levine, Stefan Renold, LMR, Marcus Fairhurst, He'd, LMR's, Izzy, Ronda, Singh, Mark Meskin, Justin Gmelich, Steve Keller, Benjamin Williams, Madhvani, Paritosh Singh, Ben Williams, Kristina Tully, Steven Cohen, Point72, Shayanne, Steve Cohen's, Harry Schwefel, Chandler, Steve Cohen, JT Shields, They're, Schwefel, Alyssa Friedman —, Chandler Bocklage, Reid Murphy, Jae Yang, Japan Goldman Sachs, Alyssa Friedman, Jackie Dai, Gabriel Sanders, Ajay, Steven Schonfeld, Michael Nagle, Steve Schonfeld's, Ryan Tolkin, Schonfeld, doesn't, Akshay Aggarwal, Alex Burns, Ryan McCort, Colin Lancaster, Mitesh, Sameer Buch, Brittany Lynch, DMFI, Goldman, Verition, Nicholas Maounis, Josh Goldstein, Brian Townes, Townes, Elizabeth Xiang MD, Vir, Steve Satenstein, Chris Svoboda, Will England, Thomas DeAngelis, DeAngelis, Jonathan Brenner, hasn't, Maureen Reed, John Sullivan, Brenner, Walleye's Organizations: Service, Management, Wall, Business, Balyasny, Balyasny Asset Management, Quadra Advisors, SAC, Macquarie, BD, UBS, Grad, Financial Times, Michael, Lascaux, Howard BD, Brevan, Argentum Advisors, BH Digital, McKinsey & Company, JPMorgan, Ken Griffin's Citadel, Citadel, Citadel's, decamping, Chicago, Citadel BD, Walleye Capital, of Surveyor, Millennium, Capital, Credit, Ashler, Rice, Deutsche Bank, LMR Partners, London, Dore Partnership, Soros, Soros Fund, Ronda Churchill, Bloomberg, Getty, Guggenheim, Industry, MLP, Americas Guggenheim, Americas Citadel, SAC Capital, SEC, Point72 Academy, Citigroup, BD Energi, Japan, EMEA, APAC BNP, Schonfeld, PAAMCO, KKR, DMC Partners, Topwater, LinkedIn, New, New Holland Capital, BD —, Walleye, Lehman Brothers, Hutchin, Putnam Investments, ~$ Locations: America, Asia, Balyasny, Blackstone, New Holland, Abu Dhabi, BlueCrest, Europe, Graticule, ExodusPoint, Hornick, Freestone, New York, Schonfeld, Brevan, he's, Aberdeen, Hong Kong, Zurich, Glasgow, Dubai, Americas, Point72, quant, Verition, London, Greenland, Minnesota, Citadel

☆ Robinhood climbs after reporting record earnings for first quarter
▼ + stars: | 2024-05-08 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Shares of Robinhood rose in extended trading Wednesday afternoon after the retail brokerage announced stronger-than-expected first-quarter results. Robinhood reported net income of $157 million, or 18 cents per share, for the first quarter. Cryptocurrency transactions accounted for $126 million in revenue in the quarter, the company said. Robinhood said that its number of funded customers rose by 810,000 year over year to 23.9 million. Shares of Robinhood were up nearly 40% year to date before Wednesday's earnings announcement.

Persons: Robinhood, Dan Gallagher, Robinhood's Organizations: LSEG, Securities and Exchange Commission

☆ I worked at SpaceX where Elon Musk was a cubicle away. At Elon's companies, it's add value or leave.
▼ + stars: | 2024-05-08 | by ( Jamie Killin | ) www.businessinsider.com time to read: +8 min

Vincent Peters worked in military compliance when he was poached to work at SpaceX. So I graduated on medical leave, couldn't be deployed, and continued on medical leave for another six months before being discharged. I was introduced to people on the SpaceX Mission team, and ultimately, they asked me to interview with them for a job at SpaceX. AdvertisementThat mentality is how I started working on Starlink. In 2020, I asked to help and was allowed to work on their projects in addition to my work at SpaceX.

Persons: Vincent Peters, —, couldn't, Freddie Mac, I'd, Gwynne Shotwell, I've, it's, It's, We're Organizations: SpaceX, Service, Federal Aviation Administration, US Government, SpaceX Mission, International, NASA, Department of Defense, SpaceX SpaceX, Elon Locations: West, cubicles, Elon

The information for the following product(s) has been collected independently by Business Insider: Capital One Spark 1% Classic†, Bank of America Business Advantage Unlimited Cash Rewards Secured Business Credit Card, FNBO Business Edition® Secured Mastercard® Credit Card, Capital One Spark Cash Select for Excellent Credit†. Introduction to the Capital One Spark 1% ClassicThe Capital One Spark 1% Classic† credit card is designed for small business owners with fair credit who need a business credit card for company purchases, bookkeeping and tax preparation management. Capital One Spark 1% Classic OverviewThe Capital One Spark 1% Classic† could be considered the entry level card in Capital One's line of small business cards, which are all branded with Spark name. Spark vs. QuicksilverMany people online compared the Capital One Spark business cards to the consumer-targeted Capital One Quicksilver cards. Capital One Spark 1% Classic Frequently Asked QuestionsWhat are the main features of the Capital One Spark Classic card?

Persons: Cardholders, it's, cardholders, Redditors, Jason Steele Jason Steele, Jason, Miles, Guy, Read, Angela Fung Organizations: Business, Bank of America Business, Credit, Mastercard, Capital, Accounting, Business Management, Abacus, Travel Insurance, Quicksilver, Chevron, Conference, Credit Card Media, Finance Locations: One's, Xero, Chevron, Denver , Colorado

☆ China’s booming electric vehicle companies eye U.S. competitors they see as ‘not ready’
▼ + stars: | 2024-05-07 | by ( Janis Mackey Frayer | Jennifer Jett | ) www.cnbc.com time to read: +8 min

Despite lower price tags, Chinese EVs often have more powerful batteries and more advanced technology. The competition among hundreds of Chinese EV makers has spurred rapid innovation. Even Tesla CEO Elon Musk, who made a surprise visit to Beijing last week, has said that without trade barriers Chinese EV makers would "demolish" their competitors. Chinese EVs tend to be smaller, cheaper and more accessible to the masses — BYD's Seagull, a small all-electric hatchback, starts at less than $10,000. It would take time to set up a sales and distribution network, Fields said, and Chinese EV makers could face a perception issue among American consumers.

Persons: They're, Stella Li, America's Tesla, Tesla, BYD, Mark Fields, Elon Musk, Musk, Fields, they've, Li, Biden, Musk's, That's Organizations: Alliance for American Manufacturing, U.S, BYD, NBC News, Western, Communist Party, Ford, International Energy Agency, Western automakers, United States, Lawmakers, World Trade Organization, European, Rhodium Group, EV, China Association of Automobile Manufacturers Locations: China, EVs, U.S, BYD Americas, BYD, Shenzhen, United States, Beijing, Europe, United, Union, Chinese, Mexico, South Korea, Japan

☆ A high-stakes report looms over Biden on whether Israel violated international law
▼ + stars: | 2024-05-07 | by ( Kylie Atwood | Jennifer Hansler | ) edition.cnn.com time to read: +19 min

Nic Antaya/Getty Images Pro-Palestinian protesters demonstrate on the New York University campus in New York on Friday, May 3. Mike Blake/Reuters Pro-Palestinian protesters stand their ground after police breached their encampment at UCLA on May 2. Before police were deployed to campus, pro-Palestinian protesters and Israel supporters were clashing at the school , according to multiple reports. Joseph Prezioso/AFP/Getty Images Columbia University students gather for a picket organized by the Student Workers Union (UAW Local 2710) on Monday, April 29. Stefan Jeremiah/AP Israeli flags are reflected in the sunglasses of a demonstrator in front of Columbia University on April 22.

Persons: CNN —, Biden, Joe Biden, Benjamin Netanyahu, Antony Blinken, “, Matthew Miller, Adam Schultz, Netanyahu, Israel, Mahmud Hams, It’s, ”, Democratic Sen, Chris Van Hollen, Sen, Alex Brandon, Van Hollen, Miller, ” Miller, Melissa Overton, Nic Antaya, Seth Harrison, Jenny Kane, Chip Somodevilla, Mathieu Lewis, Rolland, Craig Hudson, Emma, Roberto Schmidt, Etienne Laurent, Mike Blake, Spencer Platt, Frederic J . Brown, Caitlin Ochs, David Dee Delgado, Charly Triballeau, Kena Betancur, Seyma, Alex Kent, Joseph Prezioso, Suzanne Cordeiro, Diane Handal, Cliff Owen, Qian Weizhong, Mike Stewart, Sarah Reingewirtz, Jay Janner, Brandon Bell, Brian Snyder, Mike Johnson, Timothy A, Clary, Matthew Hatcher, Nuri Vallbona, Jordan Vonderhaar, Zaydee Sanchez, Cameron Jones, Stephanie Keith, Andres Kudacki, Tayfun, Joe Buglewicz, Fatih Aktas, Michael M, Mary Altaffer, Scott Eisen, Columbia's, Stefan Jeremiah, Selcuk Organizations: CNN, State Department, Israeli, Congress, Hamas, Capitol, ”, National Security, Getty, State Department’s Bureau, Political, Military Affairs, Defense Department and National Security Council, Biden, Israel, Palestinian, Israel Defense Forces, United Nations Office, Human Rights, Biden Democrats, Democratic, Democratic Party, Republican, Department, Protesters, University of Michigan's, New York University, Westchester County Journal, USA, Network Police, Portland State University, AP, George Washington University, The George Washington University, AFP, Police, University of California, UCLA, Reuters, Fordham, Lincoln Center, Getty Images Police, Hamilton, Columbia University, Reuters Police, Columbia, The City College of New, Getty Images, Columbia Students, Justice, Hamilton Hall, Brown University, Getty Images Columbia University, Student Workers Union, UAW, University of Texas, Low, Sunday, Rueters Georgia State Patrol, Emory University, MediaNews, Los Angeles Daily News, Austin Statesman, Network, Austin, University, Emerson College, Swarthmore College, Bloomberg, University of Southern, Reuters New York, Reuters Columbia, New York Times, Sproul Hall, Yale University, University police, York University, The New School, Massachusetts Institute of Technology, Library, USAID Locations: Israel, Gaza, Rafah, Capitol Hill, Iran, Palestinian American, Jabalia, AFP, Ann Arbor , Michigan, New York, Westchester, Portland , Oregon, Washington ,, Portland, The, Los Angeles, The City College of New York, Columbia, Columbia's, Palestine, Providence , Rhode Island, Texas, Austin, New, Rueters Georgia, Atlanta, Getty Images Texas, Boston, Swarthmore , Pennsylvania, University of Southern California, Berkeley, Sproul, Anadolu, New Haven , Connecticut, Cambridge

☆ Behind Nigeria’s Arrest of Binance Employee, Claims of a Bribe Request
▼ + stars: | 2024-05-07 | by ( David Yaffe-Bellany | Emily Flitter | ) www.nytimes.com time to read: +1 min

Mr. Gambaryan, a former U.S. law enforcement agent, understood the message as a request for a bribe from someone in the Nigerian government, according to five people familiar with the matter and messages reviewed by The New York Times. He and a group of his Binance colleagues had just met with Nigerian legislators, who accused the company of tax violations and threatened to arrest its employees. Later that month, Mr. Gambaryan wrote a three-page report describing the payment request and gave it to Binance’s lawyers, two people familiar with the report said. The episode was the backdrop for a second trip to Nigeria that Mr. Gambaryan took in February. On his return, he and a colleague, Nadeem Anjarwalla, were arrested by the Nigerian authorities, setting off a crisis at Binance.

Persons: Tigran Gambaryan, Gambaryan, Nadeem Anjarwalla Organizations: The New York Times Locations: Nigeria, U.S, Nigerian, Binance

☆ Universities on Guard for Pro-Palestinian Protests at Commencement: Live Updates
▼ + stars: | 2024-05-06 | by ( Yan Zhuang | ) www.nytimes.com time to read: +5 min

Others, including pro-Israel professors, have sought to build other avenues of support for students. Faculty members at Emory University and Columbia University are among those who have either taken or pushed for no-confidence votes in their school presidents. Some professors, faculty and staff members have gotten caught in police sweeps and arrested as law enforcement has moved to evict students and their tent encampments from campuses. He said the letter came together as colleagues expressed outrage over seeing some of their students caught in the clash and not receiving a response from some administrators when they pleaded for intervention. “There was a very clear sense from very early on, even as things were happening yesterday, that some response was imperative — that we couldn’t let something like this go unanswered,” he said.

Persons: Jim Ryan, Ian Baucom, Annelise Orleck, —, ”, Erik Linstrum, “ there’s, Brian Coy, Ryan, Baucom, “, ” Mr, Coy, Laura Goldblatt, they’re, Thomas Jefferson, Linstrum Organizations: University of Virginia, Israel, Emory University, Columbia University, Dartmouth College Locations: Charlottesville, Gaza, aggress

☆ Dozens of former employees plan to sue Bowlero alleging discrimination after EEOC closes case, lawyer says
▼ + stars: | 2024-05-06 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +8 min

During the company's earnings call with Wall Street analysts later Monday, executives said that the EEOC investigation was now behind them and would no longer be a distraction. "Because of limited resources, we cannot file a lawsuit in every case where we find discrimination," the EEOC explains on its website. It's unclear if the question of whether to sue Bowlero made it to a vote with the EEOC's commissioners. He told CNBC he plans to sue Bowlero for $80 million, plus legal fees. In response, Bowlero's attorneys Alex Spiro and Hope Skibitsky at law firm Quinn Emanuel said they "are pleased with the outcome of the EEOC investigation."

Persons: Bowlero, Thomas Shannon, Robert Lavan, there's, it's, Daniel Dowe, EEOC, Dowe, Alex Spiro, Hope Skibitsky, Quinn Emanuel, Thomas Tanase, Tanase's, didn't Organizations: U.S, Commission, CNBC, AMF, Lucky, Wall Street, Bowlero Locations: North America, Virginia

☆ Robinhood says SEC could pursue enforcement actions over its crypto operations
▼ + stars: | 2024-05-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

The Securities and Exchange Commission could soon pursue enforcement action against Robinhood , according to the trading firm. Robinhood disclosed in a filing Monday that over the weekend the regulator sent it a warning that upon completion of an investigation the company could be charged. "We firmly believe that the assets listed on our platform are not securities and we look forward to engaging with the SEC to make clear just how weak any case against Robinhood Crypto would be on both the facts and the law," he said. Shares of the stock initially fell 2% but have reversed. They were recently trading up 1%.

Persons: Robinhood, Dan Gallagher, Robinhood's, Robinhood Crypto Organizations: Securities, Exchange Commission, Robinhood, SEC

☆ From 25 years in prison to just four months: Inside the final verdict on a crypto billionaire CEO archrivalry
▼ + stars: | 2024-05-05 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +18 min

Combination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance. A month earlier, on the opposite coast in downtown Manhattan, FTX's Sam Bankman-Fried received a 25-year prison sentence for his crimes. At the beginning of his trial, SBF sported a fresh haircut and wore suits, but by its end, his curls were wild again. Cryptocurrency exchange Binance founder and CEO Changpeng Zhao speaks at a Binance fifth anniversary event in Paris, France, July 8, 2022. watch nowMoney makes all the differenceUnlike SBF, CZ didn't have his wealth wiped out by bankruptcy of the crypto company he founded.

Persons: Sam Bankman, Zhao Changpeng, Mike Segar, Benjamin Girette, Changpeng Zhao, FTX's Sam Bankman, Fried, Zhao, Binance's Zhao, FTX's, Toyotas, Braden Perry, Perry, Manfred, SBF, Michael Lewis, Lewis, Sam didn't, Amr Alfiky, Sam, Caroline Ellison, —, Zhao's, Yi He, Binance, David Ryder, Yang, Rachel Zhao, Yesha Yadav, Yadav, Mark Bini, Lewis Kaplan, Bankman, Kaplan, perjured, Neama Rahmani, Rahmani, Tre Lovell, Zhao hasn't, Lovell, weren't, FTX Organizations: Reuters, Bloomberg, Getty, Department of Justice, CFTC, Stanford University's, Bankman, CZ, Staff, Reuters Prosecutors, Alameda Research, Vanderbilt University, Wall Street, CNBC, FTX, Emergency Economic, Justice Department, DOJ Locations: Seattle, Manhattan, California, Hong Kong, Bahamas, Palo Alto, U.S, New York City, Alameda, Seattle , Washington, Paris, France, Angeles, Binance, Dubai, Delaware

☆ India's markets regulator puts seven Adani companies on notice for violations
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: +1 min

Chairperson of Indian conglomerate Adani Group, Gautam Adani, speaking at the World Congress of Accountants in Mumbai on November 19, 2022. India's markets regulator has sent notices of regulatory violations to seven companies of the Adani conglomerate, including its flagship Adani Enterprises, the group said in stock exchange filings. The regulator began probing the Adani group, led by billionaire Gautam Adani, after Hindenburg Research in January 2023 alleged improper use of tax havens and stock manipulation by the group, accusations the group has denied. Adani Green Energy, Adani Power, Adani Total Gas, Adani Energy Solutions, Adani Wilmar, and Adani Ports have also received notices from SEBI in the first quarter, the companies said in separate filings to the exchanges this week. Typically such violations attract monetary penalties or management can be barred from capital markets for a certain period.

Persons: Gautam Adani, Wilmar Organizations: Adani, World, Accountants, Adani Enterprises, Hindenburg Research, Securities and Exchange Board of India, Energy, Adani Energy Solutions Locations: Mumbai, SEBI

☆ The portfolio manager whisperers
▼ + stars: | 2024-05-03 | by ( Alex Morrell | ) www.businessinsider.com time to read: +24 min

AdvertisementHistorically, a hedge fund's chief investment office or senior portfolio manager was responsible for vetting and wooing key investment hires. They can also help hedge funds save on outside recruiting costs, which can add up to tens of millions a year. Hedge funds targeted institutional salespeople at investment banks with exposure to hedge funds, as well as asset allocators with chops in portfolio-manager selection and due diligence. Assets at multimanager hedge funds have boomed since 2018. The principle may work for fictional baseball diamonds, but the reality at hedge funds is more complicated.

Persons: Taylor Swift, Travis Kelce, Goldman Sachs, —, That's, headhunter who's, liken, Nick Saban's, Midlevel, headhunter, Ken Griffin, Michael Kovac, execs, Jennifer Blake, BD Thomas DeAngelis, Walleye Capital Paritosh Singh, Americas Michael Grad, BlueCrest Lindsay Previdi, Point72, Freestone Grove Matthew Giannini, Ken Griffin's, ExodusPoint, Brevan Howard, breakneck buildout, Michael Gelband —, Jonathan Hoffman, Alexander Phillips, ExodusPoint's, Millennium's Izzy Englander, noncompetes, Millennium Management Amanda Gordon, multimanagers, who've, Goldman, Schonfeld, Brevan Howard —, Neil Chriss, Harry Schwefel, Jonathan Brenner, Walleye's, Thomas DeAngelis, DeAngelis, Brenner, DeAngelis hasn't, Kansas City Chiefs Travis Kelce, Erick W, Rasco, Donald Trump's, America couldn't, Citadel execs Todd Barker, Daniel Morillo —, Jeff Runnfeldt, Bobby Jain, allocator Organizations: NFL, Business, Citadel, BD, University of Alabama, execs, Balyasny, Walleye Capital, Millennium, Americas, Freestone Grove, — Citadel, Walleye, BI, Costco, Millennium Management, Bloomberg, Getty, Investor, Barclays, Barclays Capital Solutions, Brookfield, Paloma Partners, Kansas City Chiefs, San Francisco 49ers, Allegiant, Getty Images, Black, Investors, ex, Fortress Locations: America, multimanagers, —, Hudson Bay, Schonfeld, Israel, multimanager, Europe, Middle East, Africa, Vegas, Balyasny

☆ Paris 2024: Ukrainian athletes urged to avoid Russians and Belarusians at Olympics
▼ + stars: | 2024-05-03 | by ( Radina Gigova | Svitlana Vlasova | ) edition.cnn.com time to read: +3 min

CNN —Ukrainian athletes have been urged by the country’s National Olympic Committee (NOC) to avoid contact with Russians and Belarusians during the 2024 Olympics in Paris so that possible “provocative actions” can be prevented. Ukrainian athletes are also asked “not to communicate or discuss on social media with individual neutral athletes from Russia and Belarus” and not to share or respond to their content. Ukrainian athletes are also urged to refrain from “participating in press conferences, live broadcasts, interviews and other promotional events with individual neutral athletes of the Russian Federation and Belarus before and after the competition,” according to the recommendations. The International Olympic Committee (IOC) announced in December that Russian and Belarusian athletes will only be eligible to compete as individual neutral athletes at this year’s Paris Games. Teams of Russian and Belarusian athletes will not be considered, while athletes who actively support the war against Ukraine will also be ineligible.

Persons: ”, “, Dmytro Kuleba, ” Kuleba, Alexander Lukashenko, Vladimir Putin Organizations: CNN, country’s, Olympic Committee, Ministry of Youth, Sports, Belarus ”, Russian Federation, Paris, Games, IOC Locations: Paris, Russia, Belarus, Belarusian, Ukraine

☆ Hala Rharrit, US diplomat who quit over Biden administration’s Gaza policy, speaks out
▼ + stars: | 2024-05-03 | by ( Jennifer Hansler | ) edition.cnn.com time to read: +6 min

CNN —Hala Rharrit never expected that she would choose to leave her career as a US diplomat. About a year and a half ago, after mostly behind-the-scenes roles, Rharrit became an Arab language spokesperson for the State Department. But the US government’s policy on the war between Israel and Hamas in Gaza “unfortunately really, really changed that,” she said. Rharrit told CNN that she and her colleagues were “horrified” by the Hamas terrorist attacks on October 7, which triggered the war in Gaza. We just have not been able to say it.’”The State Department would not comment specifically on Rharrit’s case, citing personnel matters.

Persons: Hala Rharrit, Yemen —, Rharrit, “, ”, Josh Paul, Annelle, ” Rharrit, “ I’m, ‘ you’re, ’ ”, you’re, they’re, ‘, we’ve, Vedant Patel, ” “ You’ve Organizations: CNN, State Department, Biden, Israel, US, The State Department Locations: Yemen, Hong Kong, Qatar, South Africa, Arab, Israel, Gaza, United States, “

☆ Virtual reality could revolutionize mental-health treatments, including ketamine therapy, for conditions like depression and anxiety
▼ + stars: | 2024-05-02 | by ( Christine Macintyre | ) www.businessinsider.com time to read: +7 min

The tech is helping mental-health providers treat conditions such as depression, anxiety, and PTSD. In the face of this staggering prevalence, virtual reality offers transformative solutions in mental-health treatment and care. He uses FireflyVR's platform, The Sanctuary, a clinically designed VR experience that uses cognitive-behavioral therapy to reduce patients' anxiety before they undergo ketamine therapy. VR cue exposure, Siegfried said, helps reduce binge-eating habits by exposing people to triggering stimuli in a controlled environment. Both cue exposure and embodiment aim to address the complex psychological dynamics of eating disorders.

Persons: —, Shel Mann, Mann, Dr, Christopher Romig, Stella, It's, Romig, Nicole Siegfried, Siegfried Organizations: Service, Disease Control, VR, Veterans Affairs, Behavioral

☆ Johnson looks to unify GOP with crack down on college campus protests
▼ + stars: | 2024-05-02 | by ( Annie Grayer | Melanie Zanona | ) edition.cnn.com time to read: +9 min

“Anti-Israel protests on college campuses threaten Jewish students,” says the ad, which was shared first with CNN. While supporters of the legislation say it will help combat antisemitism on college campuses, opponents argue it overreaches and threatens to chill free speech. Some Democrats see the new investigative effort into college campuses and Johnson’s recent visit to Columbia University as a divisive political ploy. “Clearly it’s a very high priority for him,” GOP Rep. Frank Lucas of Oklahoma, the chairman of the House Science Committee, told CNN. House GOP Conference Chairwoman Elise Stefanik, who sits on the Education panel, is also expected to play a prominent role in the effort.

Persons: Mike Johnson, Johnson, speakership, ” Johnson, “, ”, Marjorie Taylor Greene, Donald Trump, Nick Fuentes, Pramila Jayapal, Joe Biden, James Comer, Lisa McClain, Biden, “ I’ve, Frank Lucas of Oklahoma, Virginia Foxx, Elise Stefanik, Jim Jordan, Comer, ” Comer, ” CNN’s Haley Talbot Organizations: CNN, Republican, House Democratic, GOP, Louisiana Republican, Columbia University, Democrats, White, Department, Education, International Holocaust, Alliance, Columbia, Michigan, House Education, Workforce Committee, House Science, North Carolina, Yale University, University of California, University of Michigan, House GOP, New York Republican, Science, Republicans, George Washington University, Kentucky Republican Locations: Louisiana, Israel, Marjorie Taylor Greene of Georgia, Lago, Washington, Columbia, University of California Los Angeles, “, Ohio

☆ IRS aims to more than double its audit rate for wealthiest taxpayers in strategic plan update
▼ + stars: | 2024-05-02 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Internal Revenue Commissioner Danny Werfel speaks during his swearing in ceremony at the IRS in Washington, D.C., on April 4, 2023. The agency also renewed its focus on "tax fairness" with plans to increase audits on the wealthiest taxpayers, large corporations and complex partnerships. The IRS aims to more than double the audit rate for the wealthiest taxpayers with total positive income of more than $10 million by tax year 2026. This would bring the audit rate for these individuals to 16.5% in 2026, compared to 11% in 2019. The agency also plans to "nearly triple audit rates" on large corporations with assets over $250 million and boost audit rates "by tenfold" for large, complex partnerships with assets over $10 million, Werfel said.

Persons: Danny Werfel, Werfel Organizations: Washington , D.C, IRS, Finance, Fed Locations: Washington ,

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