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The World Bank’s internal watchdog on Thursday criticized the organization’s handling and oversight of its investment in a chain of Kenyan schools that were subject to an internal investigation after allegations that students were abused. The investigation, which started in 2020, has consumed World Bank officials and shareholders in recent months and led to scrutiny of its investment arm, the International Finance Corporation, which invested in the educational project a decade ago. While the scandal predates the tenure of Ajay Banga, the World Bank’s new president, it has emerged as one of the first tests of his management. Mr. Banga will be responsible for directing any changes related to how the bank invests in private-sector projects. was interfering in the investigation, and U.S. lawmakers have told him that the bank’s future funding could hinge on his handling of the matter.
Persons: Ajay Banga, Banga Organizations: Bank, International Finance Corporation
The federal judge overseeing former President Donald J. Trump’s prosecution on charges of mishandling classified documents on Thursday rejected one of his motions seeking to have the case dismissed, the first time she has denied a legal attack on the indictment. In a two-page order, the judge, Aileen M. Cannon, rebuffed arguments by Mr. Trump’s lawyers that the central statute in the indictment, the Espionage Act, was impermissibly vague and should be struck down entirely. The decision by Judge Cannon followed a nearly daylong hearing in Federal District Court in Fort Pierce, Fla., where she entertained arguments from Mr. Trump’s legal team and from prosecutors in the office of the special counsel Jack Smith about the Espionage Act. The government says the former president violated that law 32 times by removing a trove of highly sensitive classified material from the White House after he left office. Mr. Trump’s lawyers had claimed that certain phrases in the text of the law — for instance, its requirement that prosecutors prove defendants took “unauthorized possession” of documents “relating to the national defense” — were so ambiguous and open to debate as to be unenforceable.
Persons: Donald J, Aileen M, Cannon, Judge Cannon, Jack Smith, ” — Organizations: Federal, Court, White Locations: Fort Pierce, Fla
GCHQ, the UK’s largest intelligence agency, is looking for new recruits and has released a new visual puzzle to test the skills of anyone interested in a role. GCHQThe answer to the puzzle has been released on the new GCHQ LinkedIn page. The puzzle is part of a recruitment drive by the agency, which says it offers a number of different careers, some of which do not require a degree. GCHQ director Anne Keast-Butler said the agency needs “the right mix of minds” to deal with the challenges of a complex world. “For us, that means bringing in people with different backgrounds, different experience, different insights, different knowledge, and creating a team where all of us can play our part.
Persons: James Bond, Justin Eagleton, , , GCHQ, Alan Turing, Anne Keast, Butler, Keast, who’ve Organizations: CNN, LinkedIn Locations: Cheltenham, Bletchley, London, GCHQ
In San Francisco, a 20-story office tower that sold for $146 million a decade ago was listed in December for just $80 million. And in Washington, a 12-story building that mixes office and retail space three blocks from the White House that sold for $100 million in 2018 recently went for just $36 million. Such steep discounts have become normal for office space across the United States as the pandemic trends of hybrid and remote work have persisted, hollowing out urban centers that were once bustling with workers. But the losses are hitting more than just commercial real estate investors. Cities are also starting to bear the brunt, as municipal budgets that rely on taxes associated with valuable commercial property are now facing shortfalls and contemplating cutbacks as lower assessments of property values reduce tax bills.
Organizations: House Locations: San Francisco, Chicago, Washington, United States
Donald Trump’s New York hush money case — the only one of his four criminal cases that looked as if it would soon go to trial — suddenly faced the likelihood of delay on Thursday when a big batch of potential new evidence abruptly became available. The news of the likely postponement arrived as the former president was in federal court in Florida for a separate hearing in a different case — the one in which he stands accused of mishandling classified documents, which even now has no solid start date. The judge there rejected one of a multitude of motions from Mr. Trump to dismiss the case. And in Washington, prosecutors and Mr. Trump’s lawyers are preparing for a showdown at the Supreme Court, which will hear arguments next month on his claim that he is immune from charges in the federal indictment that accuses him of plotting to overturn his 2020 election loss. That case was originally supposed to go in front of a jury this month.
Persons: Donald Trump’s, , Trump Organizations: Supreme Locations: York, Florida, Georgia, Washington
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe economic data haven't been 'as bad as expected', says Regions Bank CIO Alan McKnightAlan McKnight, Regions Bank CIO, joins 'Money Movers' to discuss McKnight's reaction to the week's economic data, what to expect from next week's Federal Reserve meeting, and if the economy has successfully avoided a recession.
Persons: haven't, Alan McKnight Alan McKnight Organizations: Regions Bank CIO, Reserve
At the World Bank’s annual meetings last year in Morocco, the organization’s new president, Ajay Banga, outlined a sweeping vision for how he wanted to rid the world of poverty while keeping the planet habitable. The challenge is related to an investment that the World Bank made a decade ago in a chain of schools in Kenya. The educational project was partially funded through the International Finance Corporation, the bank’s investment arm. It became a source of controversy when allegations emerged in 2020 about widespread sexual abuse at the schools, prompting an investigation by the bank’s internal watchdog. has been reviewing a revised “action plan” that could take effect as soon as this week.
Persons: Ajay Banga, Banga Organizations: World Bank, International Finance Corporation Locations: Morocco, Kenya
The "Growing Pains" star Joanna Kerns told the producers of "Quiet on Set" that her letter was based on misinformation. He appeared in minor roles in the 1980s, '90s, and early aughts, including in the sitcoms "Growing Pains" and "Boy Meets World," the film adaptation of "Holes," and the blockbuster "X-Men." AdvertisementStrong and Friedle discussed their support of Peck on a February episode of "Pod Meets World," the "Boy Meets World" rewatch podcast they cohost with their former costar Danielle Fishel. The "Boy Meets World" actors said on the podcast that Peck acknowledged he was guilty of something involving a minor. They said that when they asked him about the case, Peck "simply replied that 'the problem had been resolved.'"
Persons: Drake Bell, Brian Peck's, Peck, Bell, " Peck, Maxine, James Marsden, Alan Thicke, Friedle, Rider Strong, Taran Killam, — Rich, Beth Correll —, Zack, Cody, Joanna Kerns, Leonardo DiCaprio, Dan Schneider, Drake, Josh, Strong, Danielle Fishel, Forrest Gump, Bell's, Dylan, Cole Sprouse, Rich Correll, Beth Correll, Corrells, Disney, Jason Handy, Kate Taylor, Mary Robertson, Emma Schwartz Organizations: Service, Kids, Maxine Productions, Hollywood, Disney, Nickelodeon, Los Angeles Times, Disney XD, Nickelodeon Studios, Ezell, Sony Pictures, Business Locations: Hollywood
Another threat to election officialsAt least four swatting incidents have been aimed at the homes of senior officials who oversee or work to secure elections since December. Separately, a Department of Justice taskforce launched in 2021 has reviewed more than 2,000 allegations of hostility, harassment, abuse, or threats to election officials and staffers, a department spokesperson said. Swatting was featured in a tabletop exercise for election officials in New Jersey last month, a spokesperson for the secretary of state told CNN. Such incidents have prompted The Elections Group, a consulting group led by former election officials, to begin sharing resources on swatting with election workers and incorporating the topic into trainings. A wave of election officials have departed their roles since November 2020, when false claims of a stolen election proliferated.
Persons: Jay Ashcroft, ” Ashcroft, State Jay Ashcroft, Kacen Bayless, , Ashcroft, Gabriel Sterling, , we’ll, Sterling, Justin Bieber, Ashton Kutcher, swatting, ” Jennifer Doebler, Alan Winston Filion, Filion “, Filion, Jennifer Doebler, Lauren R, Shapiro, Republican Sen, Rick Scott of, Scott’s, Sen, Rick Scott swatting, “ Sir, there’s, “ It’s, Swatting, State Shenna Bellows, Bellows, Donald Trump, Trump, Ashcroft’s, Joe Biden, Tina Barton, ” Barton Organizations: CNN, Missouri’s, Republican, State, Kansas City Star, TNS, Getty, FBI, of Justice, Local, Sandy, John Jay College of Criminal, swatting, , Naples Police, , Trump, Elections, Commission Locations: Jefferson City , Missouri, Missouri, Maine , Georgia, Virginia, Sterling, Britain, Sandy Springs, Kansas, Tennessee, California, Rick Scott of Florida, Naples , Florida, Naples, New Jersey, Georgia, Maine
In the last decade, it has proved surprisingly hard to put politicians accused of corruption behind bars. And juries have occasionally thought the officeholders’ behavior didn’t meet the high standard for corruption. Senator Bob Menendez of New Jersey, who was arraigned yesterday in a federal bribery case, is both an example of the conundrum and a test of whether federal prosecutors now know how to overcome it. In the senator’s last corruption trial, in 2017, jurors couldn’t make sense of the gifts and favors he’d received from a wealthy eye doctor. In exchange, prosecutors say, he attempted to disrupt criminal cases and used his position on the Senate Foreign Relations Committee inappropriately.
Persons: didn’t, Bob Menendez, he’d, Menendez Organizations: Bob Menendez of New, Democrat, Benz, Senate Foreign Relations Locations: Bob Menendez of, Bob Menendez of New Jersey, Egypt
The White House denied on Tuesday that President Biden had set any “red lines” for Israel in its campaign against Hamas in Gaza but warned again that Israel should not attack the city of Rafah, the southernmost city in the enclave, without protections for more than a million people sheltering there. “The president didn’t make any declarations or pronouncements or announcements,” said Jake Sullivan, the president’s national security adviser, referring to an interview Mr. Biden gave over the weekend in which he was asked whether he had a “red line” Israel should not cross in its prosecution of the war. In the interview, with MSNBC, Mr. Biden rebuked Prime Minister Benjamin Netanyahu of Israel over the rising civilian death toll in Gaza, saying that “he must pay more attention to the innocent lives being lost” and that “he’s hurting Israel more than helping Israel.”Mr. Netanyahu later dismissed that contention as “wrong,” and on Tuesday he again defended Israel’s efforts to minimize civilian casualties. Mr. Sullivan, who met on Tuesday with Israel’s ambassador, Michael Herzog, declined to discuss reports that Mr. Biden, if Israel proceeded with the Rafah operation, might impose restrictions on how Israel can use the arms the United States is supplying it. “We’re not going to engage in hypotheticals about what comes down the line, and the reports that purport to describe the president’s thinking are uninformed speculation,” Mr. Sullivan said.
Persons: Biden, didn’t, , Jake Sullivan, Benjamin Netanyahu, Israel, , ” Mr, Netanyahu, Sullivan, Michael Herzog, “ We’re Organizations: White, Hamas, MSNBC, American Israel Public Affairs Committee, Israel, Israel’s Locations: Israel, Gaza, Rafah, Washington, United States
The firm battling Musk previously helped Twitter in a legal conflict with the billionaire. The billionaire is set to face off again with a lawyer who helped Twitter sue Musk after he attempted to back out of the $44 billion purchase. One of the lawyers from the Wachtell firm, William Savitt, helped lead Twitter's case against Musk. AdvertisementMusk helped found OpenAI in 2015 and has said he invested tens of millions of dollars into the AI venture. Representatives for Musk and OpenAI did not immediately respond to a request for comment.
Persons: OpenAI, Elon Musk's, Musk, , Elon Musk, Lipton, Katz, Foerster, Sam Altman, William Savitt, Morrison, Ragesh Tangri —, Morgan Chu, Alan Heinrich, Chu, Tesla, Altman Organizations: Twitter, Service, Reuters, Wachtell, Rosen, Morrison, — Jordan Eth, Ragesh, Bloomberg, Microsoft, Musk Locations: — Jordan
President Biden in his budget this week staked out major economic battle lines with former President Donald J. Trump, the presumptive Republican presidential nominee. The proposal offers the nation a glimpse of the diverging directions that retirement programs, taxes, trade and energy policy could take depending on the outcome of the November election. During the past three years, Mr. Biden has enacted key pieces of legislation aimed at bolstering the green energy economy, making infrastructure investments and reinforcing America’s domestic supply chain with subsidies for microchips, solar technology and electric vehicles. Few of those priorities are shared by Mr. Trump, who has pledged to cut more taxes and erect new trade barriers if re-elected. Here are some of the most striking differences in the economic policies of the two presidential candidates.
Persons: Biden, Donald J, Trump Organizations: Mr Locations: United States
For Mr. Biden, tax policy has been at the center of his efforts to make the economy more equitable and to counter Republican tax proposals that Democrats deride as giveaways to the wealthy. “Does anybody really think the tax code is fair?” Mr. Biden asked during his address last week. Overall, Mr. Biden is proposing $5 trillion in additional taxes on corporations and high earners over the next decade. Here’s what those increases would entail:Corporate tax increasesThe budget employs a mix of approaches to make American corporations pay more in federal taxes. Mr. Biden also calls for increasing what’s known as the corporate minimum tax to 21 percent from 15 percent.
Persons: Biden, Donald J, Trump, deride, Mr Organizations: Mr, White
Mr. Biden offered a blitz of policies squarely targeting the middle class, including efforts to make housing more affordable for first-time home buyers. The president used his speech to try and differentiate his economic proposals with those supported by Republicans, including former President Donald J. Trump. Those proposals have largely centered on cutting taxes, rolling back the Biden administration’s investments in clean energy and gutting the Internal Revenue Service. Many of Mr. Biden’s policy proposals would require acts of Congress and hinge on Democrats winning control of the House and the Senate. From taxes and housing to inflation and consumer protection, Mr. Biden had his eye on pocketbook issues.
Persons: Biden, Donald J Organizations: Republicans, Trump, Biden, Internal Revenue Service
THE ENIGMA GIRLS: How Ten Teenagers Broke Ciphers, Kept Secrets and Helped Win World War II, by Candace FlemingAs war raged in Europe in 1941, Sarah Norton, the 18-year-old daughter of an English lord, received a letter in a plain brown envelope with no return address. “You are to report to Station X at Bletchley Park, Buckinghamshire in four days’ time,” said the letter, signed by a mysterious “Commander Travis.” “That is all you need to know.”Little did Sarah realize she was being recruited for Britain’s top-secret wartime code-breaking operation. “This is the story of a handful of young women — teenagers really — who left their childhoods behind and walked into the unknown,” Candace Fleming writes in “The Enigma Girls,” her beguiling new account of their contributions. “For most of their lives, they never breathed a word about their war experiences.”We learn about 10 of these real-life conscripts. And there was Diana Payne, just 17, who helped operate the massive “Bombe” machines, which sped up the process of breaking the enemy’s ever-shifting codes.
Persons: Candace Fleming, Sarah Norton, , Travis, ” Little, Sarah, , ” Candace Fleming, Mavis Lever, Dilly Knox, , Patricia Owtram, Diana Payne Organizations: Bletchley, Britain’s, British Museum Locations: Europe, Bletchley Park , Buckinghamshire, Bletchley
The decision to blow open five tank cars and burn the toxic chemical inside them after a freight train derailed in Eastern Ohio last year wasn't justified, the head of the National Transportation Safety Board told Congress Wednesday. “There was another option: let it cool down.”However, that information was never relayed to Ohio Gov. But the agency won't release its final report on what caused the Feb. 3, 2023, derailment until it holds another hearing this June. "The successful controlled release prevented a potentially catastrophic uncontrolled explosion.”Krissy Ferguson, 49, has not been able to return home since the derailment. The NTSB has said that it appears an overheating bearing on one of the railcars caused the derailment.
Persons: wasn't, Jennifer Homendy, ” Homendy, Mike DeWine, Dan Tierney, ” Tierney, “ Nobody, Keith Drabick, Homendy, Oxy, Drew McCarty, Republican Sen, JD Vance, Drabick, , Vance, Norfolk, ” Krissy Ferguson, ” Misti Allison, ” Allison, , Alan Shaw, Patrick Orsagos Organizations: National Transportation Safety, Norfolk Southern, , Ohio Gov, Palestine Fire, Professional Services, Republican, NTSB, Associated Press Locations: Eastern Ohio, East Palestine , Ohio, East Palestine, Columbus , Ohio
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe broad movement in interest rates is what matters for the economy, says former Fed vice chairAlan Blinder, former Federal Reserve vice chairman and Princeton University professor, and CNBC's Steve Liesman join 'Squawk on the Street' to discuss Jerome Powell's testimony on Capitol Hill, how the Federal Reserve will know when it's time to cut rates, and more.
Persons: Alan Blinder, Steve Liesman, Jerome Powell's Organizations: Fed, Federal Reserve, Princeton University, Capitol
Cummings started working on the Voyager mission when he was a graduate student at Caltech in 1973, about four years before the two spacecraft launched. Voyagers' enduranceThe Voyager mission has been gathering groundbreaking data and photos since the beginning. Before Voyager, Cummings was part of an experiment to measure cosmic rays using a balloon. "It was very fortunate for me," he said, because he was able to then join the Voyager mission. NASA/JPL-CaltechIn 2012, Voyager 1 became the first human-made spacecraft to enter interstellar space and Voyager 2 followed six years later.
Persons: , Alan Cummings, Cummings, Alan Cummings Voyagers, Saturn, Carl Sagan, Voyagers, they'll, JPL Cummings, There's Organizations: Service, Caltech, Business, Hubble, NASA, Engineers, JPL Locations: Manitoba, Canada, Russia
CNN —Rep. Virginia Foxx, the Republican chairwoman of the House Education Committee, said Tuesday that Harvard University has failed to comply with her unprecedented subpoena for documents on campus antisemitism. Harvard turned over another trove of documents about campus antisemitism to Congress on Monday evening. Foxx argued that heavy redactions by Harvard made several documents “useless,” while many others were duplicates of documents previously submitted. The Education Committee did not detail specifically which steps lawmakers are now considering to enforce its subpoena. “Harvard denounced antisemitism on our campus and have made clear that the University will continue to take actions to combat antisemitism in any form,” Newton said.
Persons: Virginia Foxx, Foxx, ” “, ” Foxx, Harvard, , , Alan Garber, Penny Pritzker, There’s, Jason Newton, “ Harvard, ” Newton Organizations: CNN — Rep, House Education, Harvard University, ” “ Harvard, Ivy League, Harvard, Harvard Corporation, Harvard Management Company, CNN, University Locations: Newton
All the opinions focused on legal issues, and none took a position on whether Mr. Trump had engaged in insurrection. In an interview on a conservative radio program, Mr. Trump said he was pleased by the ruling. The Colorado Supreme Court affirmed the first part of the ruling — that Mr. Trump had engaged in an insurrection. Mr. Trump asked the U.S. Supreme Court to intervene, setting out more than half a dozen arguments about why the state court had gone astray and saying his removal would override the will of the voters. 23-719, is not the only one concerning Mr. Trump on the Supreme Court’s docket.
Persons: Donald J, Trump, Sonia Sotomayor, Elena Kagan, Ketanji Brown Jackson —, , , John G, Roberts, ” “, Amy Coney Barrett, Barrett, Bush, Gore, George W, Mr, ” Mr, Trump’s, Anderson, Michael Gold Organizations: Trump, Congress, Jackson, Health Organization, Colorado, Republican, United, The, The Colorado Supreme, Colorado Supreme, Mr, U.S, Supreme Locations: Dobbs v, United States, Colorado, The Colorado, New York
CNN —Harvard University turned over another trove of documents about campus antisemitism to Congress on Monday evening in response to an unprecedented subpoena from the House Education and Workforce Committee. Harvard was facing a 5 pm ET Monday deadline to respond to the subpoena, the first issued since the House Education Committee was founded in March 1867. “Harvard has produced documents in response to the Committee’s subpoena,” Nick Barley, a spokesperson for the House Education Committee, told CNN on Monday evening. “The Committee is currently reviewing those documents.”If Harvard had not responded, the committee would have had to consider further steps to enforce its subpoena. “Harvard denounced antisemitism on our campus and have made clear that the University will continue to take actions to combat antisemitism in any form,” Newton said.
Persons: It’s, Virginia Foxx, , Nick Barley, Jason Newton, Harvard, “ Harvard, ” Newton, , Alan Garber, Penny Pritzker, Foxx Organizations: CNN — Harvard University, House Education, Workforce Committee, Harvard, “ Harvard, CNN, Monday ., University, ” Harvard, Harvard Corporation, Harvard Management Company Locations: Newton
CNN —The Supreme Court on Monday temporarily froze enforcement of Texas’ controversial immigration law that allows state law enforcement to arrest and detain people they suspect of entering the country illegally. Justice Samuel Alito issued the administrative hold, which will block the law from taking effect until March 13. The Biden administration and several immigration groups filed an emergency application with the Supreme Court hours earlier asking the justices to block enforcement of the law. Last week, a federal judge in Austin, Texas, had blocked the state government from implementing the law. A federal appeals court over the weekend granted a temporary stay of the lower court’s decision and said the law would take effect later this week if the Supreme Court did not act.
Persons: Samuel Alito, Alito, Biden, Greg Abbott, David Alan Ezra Organizations: CNN, Justice Department, Texas Gov Locations: Texas, United States, Austin , Texas
The story of Brooksley Born is not only the tale of a remarkable regulator whose Cassandra-like warnings — if heeded — could've prevented the great financial crisis from exploding into raging, ruinous enormity. Not long after she assumed chairmanship of the CFTC, Born started to feel a lingering unease with the rapidly expanding derivatives market. So to Rubin, Born was more of an inconvenience than anything, and she certainly wasn't in his club. Not long after, Treasury officials lobbied Congress to pass legislation preventing the CFTC from being able to regulate the OTC derivatives market. In the months and years that followed, it became increasingly hard to deny that the multi-trillion-dollar OTC derivatives market was the root cause of the great financial crisis.
Persons: Lehman Brothers, jolting, — could've, It's, Potter Stewart, Henry Edgerton, Porter, she'd, Bill Clinton, Clinton, Janet Reno, Brooksley, Michael Greenberger, Born, Gibson, weren't, Robert Rubin, Goldman Sachs, Rubin, Michael Hirsh, Alan Greenspan, Greenspan, Ayn Rand, Hirsh ., Hirsh, Greenspan didn't, braggadocian machismo, lauding Rubin, Lawrence Summers, Arthur Levitt, Josie Cox, Levitt, Summers, Jim Leach, Richard Lugar, , Bethany McLean, Joe Nocera, Bob Rubin, Born's Cassandra, George W, Bush, Lauren Rivera, Christine Lagarde, Lehman, ABRAMS Organizations: Stanford University, Stanford Law School, Stanford, Appeals, District of Columbia Circuit, Arnold, Futures Trading Commission, American, CFTC, Bankers Trust, Procter, Gamble, Sumitomo, Federal Reserve, Fed, Securities and Exchange Commission, Financial Markets, Abrams, Term Capital Management, Enron, SEC, Born, Northwestern's Kellogg School of Management, Financial, International Monetary Fund, Lehman Brothers, Reuters, Street, The Washington Post, Guardian, Abrams Press Locations: California, Vietnam, United States, Washington, America, ABRAMS , New York
CNN —Manchester United legend Dwight Yorke has welcomed British billionaire Jim Ratcliffe’s investment into the club, saying that the new co-owner can restore the European powerhouse to its glory years. Yorke concedes, however, that for the time being the Red Devils will not be able to compete for the English Premier League title. Yorke would go on to win a further two Premier Leagues with the Red Devils before leaving the club in the summer of 2002. “We really should be in the [Premier League] top four relatively comfortably, and it hasn’t been that easy a ride for us. “I think Alan Shearer is still the current [record] holder in the Premier League and was a real goal machine.
Persons: Dwight Yorke, Jim Ratcliffe’s, Yorke, Darren Lewis, Ratcliffe, , ” Yorke, Sir, Jim, Alex Ferguson’s, Jim Ratcliffe, Peter Byrne, Erik ten Hag, , It’s, he’s, ” United, Erling Haaland, He’s, Clive Rose, Alan Shearer, Harry Kane –, Wayne Rooney, Andy Cole, City’s, Kevin De Bruyne Organizations: CNN, Manchester United, Red Devils, English Premier League, CNN Senior, United, FA, League –, Leagues, Premier League, Manchester City, Etihad, Tottenham, Citizens, , Fulham, Nottingham Forest, City, Liverpool, Luton Town, Bournemouth, Getty, League, Blackburn Rovers, Newcastle United, Bayern Munich – Locations: Old Trafford, , atoning, England, Germany
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