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☆ Special counsel report says Biden shouldn't be charged with any crimes over mishandling of classified documents
▼ + stars: | 2024-02-08 | by ( Madison Hall | ) www.businessinsider.com time to read: +1 min

In 2022, Biden's team found classified documents in an office outside the White House. A special counsel appointed by the attorney general did not recommend charges against the president. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIn a newly released report, US special counsel Robert Hur chided President Joe Biden for his handling of classified documents but said he shouldn't be charged with any crimes. "We conclude that no criminal charges are warranted in this matter," the report said at the beginning of its executive summary.

Persons: —, Robert Hur, Joe Biden, shouldn't Organizations: Service, of Justice, Business Locations: Delaware

☆ Signs of Rare Unrest Among North Korean Workers in China, Researchers Say
▼ + stars: | 2024-02-08 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +5 min

By Ju-min ParkSEOUL (Reuters) - South Korea's intelligence agency says poor conditions for North Koreans working overseas have led to "incidents and accidents", while researchers report rare protests and unrest in China among workers from a North Korean military-linked trading company. Fed up with unpaid wages and lingering pandemic lockdowns, as many as 3,000 North Korean workers in China staged protests last month, according to two South Korean government-affiliated researchers, including a former North Korean diplomat. The North Korean embassy in Beijing and its consular office in the Chinese border city of Dandong did not respond to calls from Reuters seeking comment. South Korea's unification ministry said in a report last year that China and Russia were hosting North Korean workers despite the sanctions. That's not easy now, given the North Korean regime wants to keep them in China to raise money for the government."

Persons: Cho Han, Cho, Ko Young, Ko, Jimin Jung, Josh Smith, Eduardo Baptista, Antoni Slodkowski, Laurie Chen, Gerry Doyle Organizations: North, . State, Korea Institute for National, South, Korea's National Intelligence Service, Security, Koreans, U.S . State Department, NIS Locations: SEOUL, China, North Korean, Beijing, Dandong, North Koreans, North Korea, Pyongyang, Korean, Helong, Jilin province, Jilin, Russia, Seoul

WASHINGTON (AP) — Special Counsel Robert Hur on Thursday released his long-awaited report on President Joe Biden's handling of classified documents, concluding that Biden had “willfully” retained and disclosed highly classified materials when he was a private citizen. The special counsel report will hardly be helpful to Biden on that count. Biden’s memory was significantly limited” in interviews with the special counsel office as well as with a ghostwriter that Biden worked with. In his interview with the special counsel’s office, Hur writes, Biden twice appeared confused about when his term as vice president ended. Still, Trump can now cite special counsel Robert Hur’s finding that Biden retained and disclosed highly classified materials.

Persons: Robert Hur, Joe Biden's, Biden, “, ”, Donald Trump's, Hur, stashed, Weeks, —, he's, Beau’s, ‘, General Karl Eikenberry, Eikenberry, Mr, approvingly, Obama, it's Trump, Trump, Robert Hur’s, Jason Miller, Jack Smith’s, Hillary Clinton’s, James Comey, Clinton, Thursday’s Organizations: WASHINGTON, Democratic, Trump, FBI, Biden, TRUMP, Republican, White, U.S . Capitol, State Department Locations: Afghanistan, Delaware, Lago, Florida, Washington

☆ 11 US cities with the best mix of jobs, pay, and affordability
▼ + stars: | 2024-02-07 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Raleigh and Boise also placed high for large cities, while Idaho Falls ranked first for small cities. Per the rankings, only 11 large cities and seven small cities were classified as Tier 1, placing high among many metrics. Big cities also saw their tech sectors grow much faster than small cities. Philadelphia jumped 130 places between 2023 and 2024 in the large cities list, while Manhattan, Kansas, rose 160 places for small cities. AdvertisementFour of the top seven small cities were in Idaho, exemplified by Coeur d'Alene, Twin Falls, and Pocatello.

Persons: Austin, —, Milken, hasn't, Richmond , Virginia —, Paso Robles, El Centro Organizations: Milken Institute, Raleigh, Idaho Falls, Service, Boise, Bureau of Labor Statistics, Idaho National Laboratory, Obispo Locations: Boise, Austin, Raleigh, Los Angeles, Long, Glendale and New York, Jersey, White, Sunbelt, Provo, Orem, Utah, Salt Lake City, Elgin , Illinois, Houston, , Texas, Richmond , Virginia, Charleston, North Charleston, South Carolina, Philadelphia, Manhattan , Kansas, Wichita, Lawrence, Kansas, Idaho, Coeur d'Alene, Twin Falls, Pocatello . Idaho, California, San Luis, Arroyo Grande, Modesto, El

WASHINGTON (AP) — The Biden administration is setting tougher standards for deadly soot pollution, saying that reducing fine particle matter from tailpipes, smokestacks and other industrial sources could prevent thousands of premature deaths a year. Soot pollution has declined sharply in the past two decades, even as the U.S. gross domestic product has increased by more than 50%, Regan said. Bakersfield tied with Visalia in California's San Joaquin Valley as the most polluted city for year-round particle pollution. Wildfires in the western U.S. were a major contributing factor to increased levels of particle pollution, the report said. Six of the 10 cities with the most soot pollution were in California, and two more were in the West: Medford, Oregon and greater Phoenix.

Persons: —, Biden, Michael Regan, Harris, “, Obama, Joe Biden, Regan, we’ve, Manish Bapna, Ben Jealous, Jeffrey Zients, Barack Obama, Donald Trump Organizations: WASHINGTON, Environmental, Environmental Protection Agency, Industry, Biden, Democratic, Administration, Natural Resources Defense Council, EPA, Sierra Club, Republican, Companies, and Paper Association, National Association of Manufacturers, White House, American Lung Association, Visalia Locations: Pennsylvania, Michigan, Wisconsin, Bakersfield , California, Fresno , California, Bakersfield, California's San Joaquin, U.S, California, West, Medford , Oregon, Phoenix

☆ 18 million rental units are at risk as climate disasters get more common, Harvard study says
▼ + stars: | 2024-02-07 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

More than 18 million occupied rental units are exposed to climate-related risks, Harvard's Joint Center for Housing Studies said in a new study. This could strain rental stock supply, boost prices, and cause a jump in evictions. Specifically, about 18.2 million units are at risk of substantial loss damage, whether from hurricanes, wildfires, floods, earthquakes and similar hazards. "Notably, newer rental units are much more likely to be vulnerable to weather- and climate-related hazards. US rental supply is now at its oldest level ever, with millions of rental units deficient in some form.

Persons: It's, DeltaTerra's Dave Burt Organizations: for Housing Studies, Service, Harvard's, NOAA National Centers for Environmental, Street Foundation

“I'm focused on the work,” Mayorkas said, “that's what brings me to Las Vegas today.”The Homeland secretary shared the reason for a seven-minute timeout that paused the AFC championship game between the Baltimore Ravens and Kansas City Chiefs on Jan 28. “Super Bowl is a no-drone zone.”Karon Ransom, U.S. Secret Service agent in charge in Las Vegas, put the number of federal law enforcement agents in Las Vegas for the Super Bowl and related events at 750. Clark County Sheriff Kevin McMahill issued a familiar call for people who see something to say something and noted that Las Vegas has hosted a series of recent headline-grabbing events: the Formula One Las Vegas Grand Prix in November; a University of Nevada, Las Vegas shooting in December; New Year's Eve fireworks that drew hundreds of thousands of revelers to the Las Vegas Strip. At least 65,000 people are expected at Allegiant Stadium for the Super Bowl, and Las Vegas tourism officials estimate the number of hotel guests and visitors in the area will top 330,000. Displaying a table piled high with fake sports memorabilia including jerseys, T-shirts, caps and a silver replica of the Vince Lombardi Super Bowl trophy, officials said investigators seized nearly $1 million worth of counterfeit merchandise over the weekend.

Persons: Alejandro Mayorkas, Mayorkas, “ I'm, ” Mayorkas, “, Cathy Lanier, Karon Ransom, ” Spencer Evans, Evans, Kevin McMahill, ” McMahill, Harry Reid, Vince Lombardi Organizations: Vegas, —, NFL, ” League, FBI, Secret Service, Homeland, Allegiant, . House, Biden Administration, AFC, Baltimore Ravens, Kansas City Chiefs, T Bank, Authorities, “, Super, Las, Prix, University of Nevada, Las Vegas Metropolitan Police Department, Harry, Harry Reid International, Customs, Border, Transportation Security Administration Locations: U.S, Mexico, Las Vegas, Pennsylvania, Vegas, Clark County

Bolts that helped secure a panel to the frame of a Boeing 737 Max 9 were missing before the panel blew off the Alaska Airlines plane last month, according to accident investigators. The report included a photo from Boeing, which worked on the panel, which is called a door plug. In the photo, three of the four bolts that prevent the panel from moving upward are missing. The investigators said that the lack of certain damage around the panel indicates that all four bolts were missing before the plane took off from Portland, Oregon. A text between Boeing employees who finished working on the plane after the rivets were replaced included the photo showing the plug with missing bolts, according to the report.

Persons: David Calhoun, ” Investigators, Max, Michael Whitaker, —, “ what’s Organizations: Boeing, Max, Alaska Airlines, National Transportation Safety, Pilots, NTSB, ”, Alaska, United Airlines, Federal Aviation Administration, FAA, Spirit Locations: Portland , Oregon, Boeing’s, Seattle, Alaska

☆ Alaska Airlines 737 May Have Left Boeing Factory Missing Bolts, N.T.S.B. Says
▼ + stars: | 2024-02-06 | by ( Sydney Ember | Mark Walker | ) www.nytimes.com time to read: +1 min

The panel, known as a door plug, was opened to repair damaged rivets on the plane’s body, known as the fuselage. The report did not say who removed the bolts keeping the door plug in place. But the safety board said it appeared that not all the bolts were put back once the door was reinstalled on the plane after the rivets had been repaired. provided a photograph of the door plug after it was reinstalled but before the plane’s interior was restored. In the image, three of the four bolts appear to be missing.

Organizations: Alaska Airlines, National Transportation Safety Board, Boeing Locations: Alaska, Boeing’s, Renton, Wash

BANGKOK (AP) — Shares were mixed Tuesday in Asia, where Chinese stocks surged after a government investment fund said it would step up stock purchases and a report said leader Xi Jinping was set to meet with officials to discuss the markets. The fund periodically steps up buying of shares in big state-owned banks and other companies to counter heavy selling pressure in the Chinese markets. On Monday, benchmarks in Shanghai and the smaller market in Shenzhen bounced between small gains and big losses, while share prices of state-run banks and other big companies rose. The Fed has yanked the federal funds rate to its highest level since 2001 to bring down high inflation. But there's also an upside for stocks from the U.S. economy's blasting through worries about a possible recession.

Persons: Xi Jinping, Xi, Hong, Seng, Australia's, India's, Jerome Powell, there's Organizations: Bloomberg, CSI, Central Huijin Investment, Nikkei, Dow Jones, Nasdaq, Federal Reserve, Institute for Supply, New York Mercantile Exchange, Brent Locations: BANGKOK, Asia, Shanghai, Shenzhen, South Korea, Bangkok

☆ Missing bolts were the culprit behind the Alaska Airlines blowout, preliminary investigation finds
▼ + stars: | 2024-02-06 | by ( Lauren Steussy | Taylor Rains | ) www.businessinsider.com time to read: +1 min

The National Transportation Safety Board's published a preliminary report on Alaska Airlines' blowout Tuesday. The report said several bolts were missing from a door plug that separated mid-flight. Bolts on the door weren't installed to begin with, the report said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSeveral bolts were missing from a door plug that blew out mid-flight from an Alaska Airlines Boeing 737 Max 9 plane in January, a preliminary report from the National Transportation Safety Board said Tuesday.

Persons: Transportation Safety Board's, Bolts, —, weren't Organizations: Transportation Safety, Alaska Airlines, Service, Alaska Airlines Boeing, Max, National Transportation Safety, Boeing, NTSB

☆ Watch as a plane skids off a runway and into the snow at a Lithuanian airport
▼ + stars: | 2024-02-06 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +2 min

The Airbus 320 model, belonging to the airline carrier Avion Express, veered off to the right as it landed at Vilnius Airport but slowly returned to the runway. Representatives for Vilnius Airport confirmed that videos circulating online were of the incident. AdvertisementVilnius Airport ceased operations for hours following the incident to inspect the runway but resumed flights soon after. "Please be informed that following the incident this afternoon, the runway at Vilnius Airport will be reopened for operations from 17:00, and flights will continue as normal," the airport wrote on Saturday. Representatives for Vilnius Airport told Business Insider they had no further information to provide.

Persons: skidding, —, skidded, Communications Rolanda Lipneviciute Organizations: Service, Airbus, Avion Express, Vilnius Airport, Facebook, Ministry, Justice, Business, Avion, Communications Locations: Milan, Vilnius, Lithuanian, Republic of Lithuania, Lithuania

☆ Gen Z prefers paychecks over promotions, survey says
▼ + stars: | 2024-02-06 | by ( Allie Kelly | ) www.businessinsider.com time to read: +4 min

Advertisement"Since 2021, Gen Z has been living with rates of inflation not seen in the US in decades," the Standard reported. AdvertisementAccess to loans, a strong 401(k) retirement account, and reliable insurance coverage are benefits that Gen Zers expect from employers. Over 90% of Gen Zers and millennials said they're considering leaving their jobs, per a 2023 LinkedIn survey. AdvertisementBy offering intentional tools toward sustained economic stability, The Standard said companies will have better luck recruiting and retaining Gen Z workers. Are you a Gen Z worker and willing to share details about your economic stability goals and how you plan to achieve them?

Persons: —, Zers, Gen Z, Gen Zers, X, millennials Organizations: Service, Business, Bureau of Labor Statistics, Standard Locations: homebuying

Over the last several years, such upstart consumer brands have been gaining market share in China and South Korea, according to a report from Bain and Company released Monday. China and South Korea stood out as markets where insurgent brands were doing particularly well. In South Korea, incumbent brands dominated just four sectors — fragrances, confectionery, diapers and bottled water, the report showed. High penetration of e-commerce in Indonesia (26%) and Singapore (13%) also gave insurgent brands a boost. Incumbent brands still hot

Persons: David Zehner, Bain, Zehner, There's, It's Organizations: Future Publishing, Bain and Company, Bain, CNBC Locations: Qingzhou city, East China's Shandong, Asia, China, South Korea, Pacific, South, Indonesia, Singapore, Malaysia, Philippines, India, confectionary

☆ Digital ad market shows signs of sharp rebound as Meta, Amazon point to growth
▼ + stars: | 2024-02-05 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +4 min

During that period Meta's ad revenue fell 4%, and Google's ad business suffered a similar drop . A year ago, Meta finance chief Susan Li offered chilling commentary about the state of the digital ad market, telling analysts that the struggling industry would remain in a slump. Meanwhile Alphabet, still the market leader, saw its Google ad business rise 11% to $65.5 billion, boosted by 16% growth at YouTube. Investors will get additional data on the digital ad market when Snap and Pinterest report earnings this week. On the whole, "digital advertising is continuing to eat up share" of worldwide advertising, Williamson said.

Persons: Li, Susan Li, Debra Aho Williamson, William Blair, Williamson, Meta Organizations: Google, YouTube, Insider Intelligence, CNBC, Intelligence, Meta, Investors, Bank of America Global Research Locations: Paris, Russia, Ukraine, China, Red

☆ Russian prisoners sent to Ukraine must now fight until the end of the war rather than for 6 months, report says
▼ + stars: | 2024-02-05 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

Read previewRussian prisoners who are sent to fight in Ukraine are now being made to serve until the war ends instead of just for six months, the BBC reported. Russia has sent tens of thousands of prisoners to fight in Ukraine since it launched its full-scale invasion in February 2022. AdvertisementOthers who have family members in Storm V units also say their relatives will have to stay until the war is over, the report said. AdvertisementSome of the recruited prisoners were convicted of violent crimes, and some of those pardoned have been accused of crimes since returning to Russia. Some Storm V soldiers get just three to five days of training before they are despatched to Ukraine, the BBC reported.

Persons: —, Sergei, Storm, SERGEY SHESTAK, Wagner, I've Organizations: Service, BBC, Business, Storm, Getty Images, Russia's Ministry of Defence Locations: Ukraine, Russia, Transbaikal, Russian, Bakhmut, AFP, Getty Images Russia, Ukrainian

☆ Mitsui Fudosan shares hit record high after Elliott reportedly calls for over $6.5 billion share buyback
▼ + stars: | 2024-02-05 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

Visitors in front of the Cinderella Castle at Tokyo Disneyland in Tokyo, Japan on Jan. 17, 2023. Shares of Mitsui Fudosan surged to an all-time high on Monday after a report said U.S. activist investment firm Elliott Management had demanded the company launch a massive stock buyback program. Japan's largest property developer jumped as much as 11.8% in early afternoon trading to hit a record 4,100 yen. The Financial Times reported that Elliott Management had called upon the property group to launch a 1 trillion yen ($6.74 billion) buyback plan. The report said Elliott also demanded the company sell down its $3.6 billion stake in Oriental Land , which runs Tokyo Disneyland, citing people familiar with the matter at both Elliott and Mitsui.

Persons: Mitsui Fudosan, Elliott Management, Elliott Organizations: Mitsui, Financial Times, Elliott Management, Elliott Locations: Tokyo, Japan, Oriental

Last week, Chinese stocks capped their worst week in five years. On Friday, Big Tech stocks once again carried Wall Street to a record, even though the majority of stocks fell due to renewed worries about risks of a hot economy. The Big Tech stocks, which are two of Wall Street’s most influential, also vaulted the Nasdaq composite up by 1.7%. But the Dow Jones Industrial Average, which has less of an emphasis on tech, rose by a more modest 0.3% to 38.654.42. They’re both members of a small group of Big Tech stocks known as the “Magnificent Seven” responsible for the majority of Wall Street’s run to a record.

Persons: Donald Trump, Hang Seng, Australia’s, it’s, Stocks, Jerome Powell, They’re Organizations: China Securities Regulatory Commission, Nikkei, Big Tech, Meta, Dow Jones, Nasdaq, Federal Reserve, Facebook, Amazon, Apple, Charter Communications, New York Mercantile Exchange, Brent, U.S Locations: HONG KONG, Beijing, Shenzhen, Shanghai, U.S, China, Hong, Asia

☆ Delivery Hero says it hit 2023 sales growth targets in early results after 26% stock plunge
▼ + stars: | 2024-02-05 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Delivery Hero CEO Niklas Östberg speaking at the Noah tech conference in Berlin on June 13, 2019. Delivery Hero said the results were driven by healthy order growth in many of its geographies. Most notably, Delivery Hero also gave some rosy guidance for 2024, with the delivery company forecasting group GMV growth of 7-9% for the year, higher than its performance in 2023. Delivery Hero said it would publish additional preliminary numbers for the fourth quarter in a trading update slated for Feb. 14, when it was originally due to report numbers. Delivery Hero is one of the largest food delivery services globally with more 2.2 billion users.

Persons: Niklas Östberg, Britain's Deliveroo Organizations: Noah, Analysts Locations: Berlin, Indonesia

☆ While Chinese stocks search for a bottom, analysts say these shares are poised to bounce
▼ + stars: | 2024-02-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Chinese stocks have given up much of their recent gains as investors debate whether the bottom is really in. They screened for names with more than $1 billion in capitalization and expectations for earnings growth in the next two years. Such signals come at a time when Chinese stocks have sold off sharply. Chinese stocks – whether measured by those that trade in the mainland, Hong Kong or U.S. – have fallen for more than two years. "In the past Chinese companies grew rapidly, many companies' results grew exponentially," he said in Mandarin, translated by CNBC.

Persons: Evercore, Rachel Wang, Clocktower, Ye Yuhua, — CNBC's Michael Bloom Organizations: People's Bank of China, Seng Index, Shanghai, Morningstar, CNBC, Baidu, Li Auto Locations: U.S, Beijing, Hong Kong, China, Shanghai, Guangzhou

☆ I'm a gig worker who argued for Seattle's new minimum pay laws. Now, I'm fighting for my Instacart job.
▼ + stars: | 2024-02-03 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

This as-told-to essay is based on a conversation with Michelle Balzer, an Instacart driver in Seattle. Balzer was among those who advocated for PayUp, a series of bills meant to protect gig workers passed by Seattle's city council. One of the laws, which requires companies like Instacart to pay contractors the equivalent of the city's $19.97-an-hour minimum wage, took effect on January 13. An Instacart spokesperson told BI: "Due to new regulations imposed by the Seattle City Council, we're making several changes to how Instacart operates in Seattle. AdvertisementDo you work for Instacart, DoorDash, Walmart Spark, or another gig work app and have a story idea to share?

Persons: Michelle Balzer, Balzer, I've, Instacart, PayUp, It's Organizations: Service, PayUp, Business, Shoppers, Seattle, Seattle City Council, Safety, Walmart Locations: Seattle, Seattle's, Pacific Northwest, PayUp, Instacart, Washington, DoorDash

☆ China is reportedly scrubbing the internet of negative coverage of its economy
▼ + stars: | 2024-02-02 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Reports this week from The New York Times and The Wall Street Journal detail efforts by Chinese authorities to scrub the internet of negative takes on the state of its economy. According to the NYT, The Ministry of State Security said in its official WeChat account that citizens should not believe the "false narratives" about the trajectory of China, and instead should believe in President Xi Jinping's vision. The WSJ similarly reported that some of the nation's top officials have reiterated the importance of promoting the "bright prospects of China's economy." The NYT said tech platform Weibo had restricted dozens of accounts from posting after they had shared bleak economic realities with other users. The platform also warned its users in November, the report said, not to be "maliciously pessimistic" about China's economy.

Persons: Xi, Li Xunlei Organizations: The New York Times, Ministry of State Security, Zhongtai Securities, Weibo Locations: China, Beijing

☆ Bao Fan: Missing Chinese banker resigns from China Renaissance for ‘health reasons’
▼ + stars: | 2024-02-02 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Bao Fan, a star Chinese tech banker who disappeared a year ago amid Beijing’s anti-corruption crackdown, has formally resigned from the firm he founded, the company said. CNN has contacted China Renaissance for comment. China Renaissance announced a management reshuffle to replace its chairman and CEO, along with other top positions. He founded China Renaissance in 2005 in Beijing and made it one of the top dealmakers for Chinese tech firms. Shares in China Renaissance were suspended from trading last April because of issues related to Bao’s status.

Persons: Hong Kong CNN — Bao Fan, Bao, ”, Xie Yi Jing, Deloitte Touche Tohmatsu, “ Organizations: Hong Kong CNN, China Renaissance, Company, CNN, Economic Observer, Communist Party, Deloitte Locations: China, Hong Kong, Bao, Beijing, Dianping

☆ AMD bets on AI-powered PCs as artificial intelligence race with Nvidia, Intel heats up
▼ + stars: | 2024-02-02 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

SHANGHAI, CHINA - JULY 28, 2023 - Photo taken on July 28, 2023 shows the AMD logo at the 2023 ChinaJoy in Shanghai, China. U.S. chip giant Advanced Micro Devices is betting on AI PCs to take on rivals including Nvidia and Intel as the AI race heats up. "[The market for] AI PCs is going to continue to expand," said Victor Peng, president of AMD, in an exclusive interview with CNBC on Thursday. He added that the firm expects more adoption of AI PCs in the second half of the year. IDC expects the integration of AI capabilities into PCs to serve as a catalyst for upgrades, hitting shelves this year.

Persons: Victor Peng, Enrique Lores Organizations: Nvidia, Intel, AMD, CNBC, ChatGPT, HP, International Data Corporation, IDC Locations: SHANGHAI, CHINA, Shanghai, China . U.S

☆ Jeff Bezos may cash out billions in Amazon stock this year
▼ + stars: | 2024-02-02 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

CNN —Amazon founder Jeff Bezos plans to sell up to 50 million shares of Amazon stock over the next year, according to a regulatory filing posted on Friday. Bezos’ planned stock sale was included in Amazon’s annual report published on Friday due to a Securities and Exchange Commission rule requiring such disclosures. Amazon shares tumbled in 2022 amid a whiplash in pandemic-induced demand for e-commerce and broader macroeconomic uncertainty. Moreover, Bezos’ recent move to Florida from Washington state would mean he could avoid state capital gains taxes on the stock sale. Bezos’ home state of Washington upheld a capital gains tax measure last year, according to the Seattle Times.

Persons: Jeff Bezos, Bezos, fiancé Lauren Sanchez, Andy Jassy Organizations: CNN, Amazon, Securities and Exchange, Origin, Seattle Times Locations: Florida, Washington

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