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☆ Steve Bannon, who has ties to an indicted Chinese billionaire, says Elon Musk's 'paymasters' are Beijing and the Chinese Communist Party
▼ + stars: | 2023-04-10 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +4 min

Steve Bannon accused Elon Musk of having "paymasters" in Beijing. This isn't the first time Bannon has accused Musk of having links to the Chinese Communist Party. This isn't the first time Bannon has — without substantiation or evidence — accused Musk of serving the Chinese government. Elon Musk's ties with ChinaMusk has spared no effort to create business ties with China. Steve Bannon has been linked to China, tooMeanwhile, Bannon has long been associated with the indicted Chinese billionaire, Miles Guo Wengui.

☆ Analysts expect a big earnings drop this season. These 14 stocks are set to buck the trend
▼ + stars: | 2023-04-07 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +5 min

First-quarter earnings per share for the S & P 500 are set to decline by 7% compared with the year-ago period, Goldman Sachs said in a note to clients Wednesday. That's why we spend less time worrying what the S & P 500 will earn and focus more on how individual companies are performing . Some S & P 500 sectors, like consumer discretionary and energy, are poised to grow profits compared with 2022, according to Goldman. Within the Club's portfolio, we found 14 companies that are set to report positive earnings growth this earnings season, according to FactSet estimates. As always, we'll analyze both our companies' earnings reports and consider their guidance to ensure our investment rationale is still intact.

☆ ChatGPT reportedly made up sexual harassment allegations against a prominent lawyer
▼ + stars: | 2023-04-06 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

OpenAI's ChatGPT made up sexual harassment accusations against lawyer Jonathan Turley, WaPo reported. In its response, ChatGPT apparently cited a Washington Post article published in 2018 — but the publication said that article doesn't exist. In the post, Turley added that he initially thought the accusation was "comical," but that "after some reflection," it "took on a more menacing meaning." He said the false sexual harassment accusations could damage his reputation as a legal scholar. "As part of that reality in our age of rage, there is a continual stream of false claims about my history or statements."

☆ Study finds 45 negative health effects of added sugar
▼ + stars: | 2023-04-05 | by ( Kristen Rogers | ) edition.cnn.com time to read: +7 min

CNN —There are at least 45 good reasons to cut back on added sugar, according to a new study. Copious research has shown the negative effects of excessive sugar intake on health, which has informed recommendations to limit consumption of “free” or added sugar to less than 10% of a person’s daily caloric intake. “This means that whole, intact grains don’t cause the same spikes in blood sugar that we experience when we eat simple sugars. A doughnut has around 15 to 30 grams of sugar, according to the Cleveland Clinic. Cooking and baking at home more often is one of the best ways to reduce sugar intake, Aggarwal said.

Trump's indictment was unsealed Tuesday, revealing he was charged with 34 counts. The indictment didn't clarify the underlying crimes Trump allegedly committed to justify felony charges. Trump was indicted on 34 felony counts of falsifying business records in connection to a 2016 hush-money payment to the adult film star Stormy Daniels. "If I were the prosecution, I would ask for a gag order covering the parties and their attorneys," Neama Rahmani, a former federal prosecutor, told Insider. Indeed, House Republicans vowed revenge on Trump's behalf and said Tuesday that they would go after Bragg and President Joe Biden in light of Trump's indictment.

☆ After arraignment, Trump's lawyers have 'nothing to rely on' -analyst
▼ + stars: | 2023-04-05 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsAfter arraignment, Trump's lawyers have 'nothing to rely on' -analystPostedGeorge Washington University Law Professor Catherine Ross says former President Donald Trump's lawyers will have a hard time defending him against 34 felony counts of falsifying business records. This report produced by Alex Cohen.

☆ The only way you'll see Donald Trump's mugshot is if someone leaks it or he shares it himself
▼ + stars: | 2023-04-03 | by ( Natalie Musumeci | John Haltiwanger | ) www.businessinsider.com time to read: +4 min

Donald Trump will pose for a mugshot ahead of his Tuesday arraignment in New York City. But don't expect his mugshot to be released; under New York law, mugshots are not public record. Trump's mugshot won't be made public unless it is leaked or released by Trump himself. It's possible that Trump's mugshot could be leaked as other prominent figures' booking photos have been in the past. Meanwhile, fake artificial intelligence-generated images of Trump's mugshot and bogus photos of the former president's arrest have already spread like wildfire across social media.

☆ 9 Middle Eastern funds and investors pouring money into US media, sports, and entertainment
▼ + stars: | 2023-04-03 | by ( Lucia Moses | Claire Atkinson | ) www.businessinsider.com time to read: +9 min

Governments and investors in the Middle East are pouring money into Western media and entertainment. Sovereign funds and other entities in Saudi Arabia, Qatar, and the UAE are pouring millions into US media and entertainment, and they're finding plenty of takers. The channels for money from Saudi Arabia and other parts of the Middle East are complex. Insider broke down the key entities — their owners, leaders, and high-profile investments and joint ventures — in the top three Middle Eastern nations pouring money into US entertainment and media. It describes itself as the largest media company in the Middle East and North Africa and runs one of the largest TV news channels, Al Arabiya.

☆ If Trump's mugshot is made public it would cement him as an 'outlaw' and could make him a folk hero like Al Capone, presidential historian says
▼ + stars: | 2023-03-31 | by ( John Haltiwanger | ) www.businessinsider.com time to read: +4 min

If Trump's mugshot is made public, it could turn him into a folk hero, historian Douglas Brinkley says. New York law generally bars the release of mugshots but it's possible that Trump's could be leaked. During an episode of his YouTube show "Justice Matters" on Thursday, legal analyst Glenn Kirschner suggested that Trump's mugshot "will become publicly available pretty promptly." If the public does get a chance to see the mugshot, it would cement Trump's status as an "outlaw" among presidents and could make him a folk hero for some Americans, Brinkley said. "But Trump fits very easily into a narrative of folk heroes, like outlaw folk heroes like Al Capone and Dillinger, Billy the Kid."

☆ Swipe your badge or get fired? Employers and workers face a reckoning over returning to the office.
▼ + stars: | 2023-03-29 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +7 min

Employers are hardening demands for workers to return to the office and quashing resistance. Apple is tracking employee attendance and has threatened action against staff who don't work from the office at least three days a week. Today, though, as a recession looms, companies are rolling back perks and demanding workers return to their desks or risk termination. After 2020's COVID-19 lockdowns forced office workers to work from home, many of them discovered the benefits of remote work. Many of the same companies demanding workers return to the office have recently conducted mass layoffs — some more than once.

☆ Rep. Andy Ogles defends his gun-filled family Christmas message after Nashville shooting
▼ + stars: | 2023-03-29 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +3 min

Rep. Andy Ogles defended his gun-filled Christmas message after Nashville's school shooting. A reporter for Sky News asked Ogles if he regretted "parading" his family "wielding weapons " on the Christmas message. "Why would I regret taking a family photo with my family and exercising my Constitutional rights?" After the shooting, Ogles posted a statement on Twitter, saying he and his family were "devastated by the tragedy." Asked about the message on NBC's Today show, Nashville Mayor John Cooper said the Ogles' Christmas message isn't "appropriate."

☆ Rep. Andy Ogles, who represents the Nashville district involved in deadly school shooting, posted a gun-toting family photo for Christmas
▼ + stars: | 2023-03-28 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +2 min

Rep. Andy Ogles represents the district where a school shooting happened in Nashville on Monday. In 2021, he posted a Christmas message with a photo of his family holding guns. "My family and I are devastated by the tragedy that took place at The Covenant School in Nashville this morning," he wrote. Dozens of Twitter users, however, responded to Ogles' statement by reposting the Christmas photo that he shared on Facebook in 2021. "This response is offensive given your Christmas family photo," wrote Tweets for Democracy.

☆ The GOP just tried the fast-track route to block Biden's student-debt relief. Here's why it probably won't work.
▼ + stars: | 2023-03-26 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

But the debt relief still faces challenges ahead as the Supreme Court decides its legality. Chip Somodevilla/Getty ImagesOther roadblocks student-debt relief could faceA CRA resolution might not work, but Republicans have still put forth other legislation. "We will continue to fight this cruel Republican attempt to end student debt relief with everything we have," he said. Amid potential challenges, Biden's administration has not relented in its confidence student-debt relief will reach borrowers this year. "Our student debt relief plan is necessary in the wake of the pandemic," Education Secretary Miguel Cardona wrote on Twitter.

☆ The No. 1 best U.S. city to live in is Cambridge, Massachusetts—see which other cities made the list
▼ + stars: | 2023-03-26 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

Niche released its list of the best U.S. cities to live in 2023. This month, Niche released its ranking of the best cities to live in America in 2023. The list ranked 228 cities by using data from the U.S. Census, FBI, Bureau of Labor Statistics and CDC in combination with millions of resident reviews. Like Cambridge, the second city on the list, Arlington, Virginia, is home to top-class universities like Georgetown and George Washington University. Arlington, Virginia also ranks as one of the best cities to raise a family and retire.

☆ Silicon Valley Bank red flags: Why did almost everyone fail to predict its collapse?
▼ + stars: | 2023-03-26 | by ( Allison Morrow | ) edition.cnn.com time to read: +8 min

A bank run took down Silicon Valley Bank on March 10, as depositors withdrew $42 billion in a single day. To embrace a uniquely Silicon Valley ethos that champions boldness, growth and disruption. Silicon Valley Bank held 55% of its customers' deposits in long-dated bonds whose value eroded as interest rates went up. Silicon Valley Bank held an unusually large proportion (55%) of its customers’ deposits in long-dated Treasuries. And for most of that year, Silicon Valley Bank was operating with a massive vacancy in its corporate leadership team: a chief risk officer.

☆ The Manhattan DA's likely case against Trump would be far from a 'slam dunk conviction'
▼ + stars: | 2023-03-23 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +8 min

New York state prosecutors have never brought an election law case involving a federal campaign, per NYT. If the DA's office brings a criminal case against Trump, it would be far from a "slam dunk conviction," one ex-prosecutor said. Among the charges Trump could face is violating New York's business records statute, which bars individuals from falsifying business records with an intent to defraud. Some legal experts have pointed out that New York has a long history of bringing felony prosecutions based on falsifying business records. If Trump is charged with falsifying business records, "expect to see this defense."

☆ DeSantis implies Trump is a loser by suggesting the former president give him a new nickname: 'Winner'
▼ + stars: | 2023-03-22 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +6 min

DeSantis hit back at Trump in the New York Post after he made salacious insinuations on Truth Social. DeSantis' comments to the Post mark an escalation against Trump, who the Florida governor could challenge for the GOP nomination for president. All weekend, DeSantis had stayed silent on Trump, only to dig at him Monday over his alleged affair. Trump was president when the federal government fast-tracked the vaccine and conservative voters have been more likely to reject boosters. "The approach to Covid was different," DeSantis told the New York Post.

☆ Junk fees cost consumers tens of billions annually, according to the White House
▼ + stars: | 2023-03-21 | by ( Chelsey Cox | ) www.cnbc.com time to read: +5 min

Fees on concert tickets, airfares, hotels and other so-called junk fees cost Americans tens of billions of dollars every year, often obscuring the full price of purchases from consumers, top economic experts said at the White House on Tuesday. Biden also called on state legislators to address junk fees at a March 8 virtual meeting with the White House. The eradication of junk fees is also a bipartisan issue with positive benefits for the economy, Brainard will say. She says recent surveys show 75% of consumers support cutting junk fees, "with strong support across party lines." "As an economist, I know that regulating junk fees has a strong foundation in decades of scholarship.

☆ Google stacks its legal team with former DOJ employees as it faces antitrust cases
▼ + stars: | 2023-03-17 | by ( Lauren Feiner | ) www.cnbc.com time to read: +13 min

Former DOJ employees make up both its in-house team and members of outside counsel firms it employs. Google also uses four different outside counsel firms loaded with nearly 20 former DOJ officials, many of whom worked in the Antitrust Division at various times. The DOJ made the accusation in a legal filing after Epic Games raised the concern in its own antitrust litigation against Google. Those firms collectively have around 20 former DOJ employees on their staff, many of them working in antitrust. For example, DOJ antitrust chief Jonathan Kanter previously worked for clients including Microsoft and Yelp which have complained of Google's allegedly anticompetitive behavior.

☆ We asked CPAC attendees what they think 'woke' means. Their answers were all over the place.
▼ + stars: | 2023-03-04 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +7 min

The word "woke" has quickly shot to the forefront of Republican politics in recent years. We asked CPAC attendees what they thought the word means. The word "woke" originally emerged from African American vernacular English, signifying a general awareness of systems of injustice. For Francis, who said he homeschools his own children, the word "woke" invokes the idea of a system of education that's stoking divisions between groups. "Political correctness" appeared to be the most popular short-hand among attendees.

Around 40% of outstanding federal student loan debt is now taken on post-college for master's and PhD programs. The average student debt balance among parents was more than $35,000 in 2018-19, up from around $5,000 in the early 1990s. Meanwhile, the private student loan market has grown more than 70% over the last decade, according to the Student Borrower Protection Center. Americans now owe more in private student loans than they do for past-due medical debt or payday loans. Every year millions of new students are pumped into the student loan system while current borrowers struggle to exit it.

☆ Newly discovered letter that George Washington wrote in 1787 hints at money problems
▼ + stars: | 2023-02-20 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

A historical documents dealer announced the discovery of a long-lost letter from George Washington. The 1787 letter shows that the future first president was once hard-pressed for cash. In the letter, Washington wants to sell a 1,644-acre tract of land, called Washington's Bottom, in western Pennsylvania. "To raise money is the only inducement I have to sell it," Washington wrote. Now, the historical documents dealer is putting the letter up for sale, valuing it at $50,000, according to a press release.

☆ The CDC’s Long-Covid Deception
▼ + stars: | 2023-02-17 | by ( Allysia Finley | ) www.wsj.com time to read: 1 min

Many liberals label themselves “pro-science” as if that’s a political position. Then again, so many putatively scientific studies seem intended to promote progressive policies rather than advance scientific knowledge. Such studies then get amplified by the media and self-appointed experts on social media. Consider a recent study from the Centers for Disease Control and Prevention that claims to find that nearly 36% of Covid cases among students, faculty and staff at George Washington University resulted in “long Covid.” The study suggests that young, healthy people face a high risk of chronic debilitating symptoms after infection despite being at low risk of getting severely ill with the virus.

☆ Ted Lerner Built His Fortune With an Early Bet on Malls
▼ + stars: | 2023-02-16 | by ( James R. Hagerty | ) www.wsj.com time to read: 1 min

Ted Lerner greeted fans at the groundbreaking ceremony for the Washington Nationals baseball stadium in 2006. After grinding his way through George Washington University’s law school, Ted Lerner decided he would rather sell houses. It was the early 1950s, and he was willing to put in 18-hour days. Home builders liked his imaginative techniques. One November, he decorated a model home like a giant Christmas present.

President Joe Biden jogs across the South Lawn of the White House to speak with visitors before boarding Marine One, Friday, March 18, 2022, in Washington. President Joe Biden remains "fit" to conduct his duties as president, according to a medical memo released by the White House following a routine physical exam on Thursday. "President Biden remains a healthy, vigorous 80-year-old male, who is fit to successfully execute the duties of the Presidency," White House physician Kevin O'Connor said in a five-page memo. Biden was expected to have his exam in January, but it was postponed due to schedule conflicts, White House press secretary Karine Jean-Pierre said earlier this month. In 2021, Biden's exam included a colonoscopy, which required sedation.

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