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Not only are his current approval ratings historically low, they are particularly poor given that unemployment is at its lowest in more than half a century. As a result, Biden's approval ratings could reasonably be expected to rise if inflation continues to decline. Reuters analysis suggests presidential approval ratings are rarely below 40% when inflation is 6% or lower. What will have a greater impact on consumers' and voters' well-being - unemployment pain or inflation gain? Some economists say the 'Misery Index', the unemployment rate plus the inflation rate, is a decent proxy for people's happiness and even presidential approval ratings.
Persons: Joe Biden's, Biden, Harry Truman's, Joseph Macri, Bahram Adrangi, 3pp, Andy Schneider, Lina El, Robert MacCulloch, Hamed Shafiee, David Blanchflower, Jamie McGeever Organizations: Federal Reserve, Wall, Bank of America, Atlanta, Reuters, Presidents, BNP, Dartmouth College, Bank of England, Thomson Locations: ORLANDO, Florida, U.S, Iraq
“The [Presidential Records Act] does not confer any mandatory or even discretional authority on the archivist,” wrote U.S. District Judge Amy Berman Jackson in that 2012 ruling. “These are not presidential records,” he added. The Presidential Records Act, Trump’s brief said, gave Trump the sole authority to decide how to categorize his records. Fitton told me he explained his Presidential Records Act theory to the Washington, D.C., grand jury in the Trump document case last winter. Fitton, for instance, accused the Justice Department of flipping its position on presidential discretion under the Presidential Record Act to go after Trump.
Persons: Donald Trump, Bill Clinton’s, Clinton, Taylor Branch, Clinton “ squirreled, , Amy Berman Jackson, Trump, Jason Baron, Bradley Moss, Mark S, Zaid, Moss, Baron, , Todd Blanche, Tom Fitton, ” Fitton, Fitton, Jack Smith, Margaret Kwoka of Organizations: Reuters, Watch, GQ, Branch, National Archives, Records Administration, Presidential, Judicial, Archives, , Justice Department, Mar, University of Maryland, Trump, Trump –, Presidential Records, Circuit, Records, D.C, Margaret Kwoka of Ohio State University, Thomson Locations: Mar, United States, U.S, Washington
Pierce, who allegedly received nearly $250,000 in EMax tokens as payment for touting the investment, paid $1.4 million in February to settle the SEC’s allegations of deceptive securities promotion. The new ruling, Masson said, should serve as a blueprint for crypto investors who contend they were duped by celebrity promoters. The beefed-up amended complaint convinced the judge that investors had plausibly accused the celebrity influencers of doing just that: exerting influence over their followers by endorsing EMax tokens. Fitzgerald’s previous decision dismissing claims against Kardashian and the other EMax promoters, Masson said, might have created an impression that celebrities can’t be held responsible for allegedly deceptive crypto touting. “You cannot get away with this.”Read more:Kim Kardashian, other celebrities beat EMax crypto investors' lawsuitKim Kardashian pays $1.26 million fine for paid crypto ad, SEC saysOur Standards: The Thomson Reuters Trust Principles.
Persons: Kim Kardashian, Michael Fitzgerald, Kardashian, Floyd Mayweather, famer Paul Pierce, Mayweather, Pierce “, , Fitzgerald, Hyping, you’ve, Scott, , ” Fitzgerald, Michael Rhodes, Cooley, Pierce, Joel Weiner, Katten Muchin Rosenman, James Sanders, Reed Smith, influencer Logan Paul, Paul, King & Spalding, Sean Masson, Scott —, Kardashian —, EMax, Masson, , can’t, ” Masson, ” Read Organizations: District, Los, NBA, famer, U.S . Circuit, Securities, Exchange Commission, King &, SEC, Thomson, Reuters Locations: California, , Florida
The plaintiffs' lawyer who filed that case, Kerry Miller of Fishman Haygood, told me on Wednesday that he plans to monitor the Bankman-Fried criminal case for any Fenwick & West documents that might boost the class allegations. Companies are typically reluctant to waive privilege for fear that their lawyers’ documents might be used in other cases. That assertion seems to hint that Bankman-Fried will claim that he can personally waive privilege over some Fenwick & West communications. The strongest defense case, Sandick said, would probably feature testimony from a Fenwick & West witness to bolster testimony from Bankman-Fried about his reliance on advice from FTX lawyers. But contradictory testimony from a law firm witness could undermine Bankman-Fried’s advice-of-counsel defense.
Persons: Sam Bankman, Gresser, Fenwick, Fried, West, FTX, , , Bankman, District Judge Lewis Kaplan, Kaplan, Kerry Miller, Fishman Haygood, Cohen, Sullivan, Cromwell, Harry Sandick, Patterson Belknap Webb, Tyler, ” Sandick, Sandick, , ’ ”, Alison Frankel Organizations: Cohen, Fenwick & West, Alameda Research, Silvergate Bank, West, U.S, Prosecutors, Alameda, District, District Judge Lewis Kaplan of, Fenwick &, Manhattan U.S, Companies, Defense, Thomson, Reuters Locations: Fenwick, FTX, Alameda, Manhattan, California, District Judge Lewis Kaplan of Manhattan
Uwill zeroed in on ensuring college students can access those treatments. The company announced in May that it raised a $30 million Series A round. UwillUwill, founded in 2020, is focused on providing virtual mental-health services to college students. Before Uwill, London started companies focused on education technology, including Examity, an online-testing platform, and College Coach, which Bright Horizons Family Solutions owns today. In May, Uwill announced it had raised a $30 million Series A round from the education-focused private-equity firm Education Growth Partners.
The IRS is preparing to test a free online direct filing system for some taxpayers — and while pre-populated returns with certain details already filled in aren't part of the initial plan, research shows it may be possible for certain filers. As directed by the U.S. Department of the Treasury, the pilot program will launch during the 2024 filing season for some taxpayers to assess the platform's broader viability. "We do not expect pre-population or pre-determining tax obligations to be part of it," IRS commissioner Daniel Werfel told reporters on a press call Tuesday, noting the project's limited scope. The paper was based on a random sample of roughly 350,000 individual tax returns from 2019, and accuracy was highest among low- to moderate-income filers. Errors were more likely to occur as itemized deductions increased.
Hindenburg said Icahn Enterprises LP (IEP) (IEP.O) valued a meat packing company in which it owns a 90% stake three times over its market value. IEP cited "the lack of material trading volume" in Viskase's stock as grounds for the valuation mark-up in the filing. Viskase's shares are traded in the over-the-counter market rather than a major exchange such as Nasdaq or the New York Stock Exchange. On Thursday, IEP said after the stock market closed that it would preserve its dividend at $2 per unit for the first quarter. IEP's stock rose 10% in afterhours trading on the announcement.
The county auctioned Fox's property for about $25,000 — and kept the $22,000 difference between the sale price and Fox's tax obligation. But Fox’s class action did not name only Gratiot County as a defendant. Circuit Court disagreed. The 6th Circuit in the Fox case agreed with the 2nd Circuit's holding that trial courts must consider constitutional standing issues ahead of class certification. The Michigan counties that challenged class certification were represented at the 6th Circuit by Douglas Curlew of Cummings, McClorey, Davis & Acho.
But the agency will have to provide a more detailed response if Ripple, Coinbase or crypto groups that have filed friend-of-the-court briefs pushing major questions doctrine arguments manage to pique a judge’s interest. Former Coinbase manager Ishan Wahi expanded on the major questions theory last February in his motion to dismiss the SEC’s insider trading case. Under the major questions doctrine, they said, the SEC does not have the requisite Congressional authority to regulate digital assets. Coinbase’s contention in that paper, released last Thursday, is all-encompassing: The major questions doctrine, according to Coinbase counsel at Sullivan & Cromwell, “forecloses” regulation of the trillion-dollar crypto industry. But if the SEC moves ahead with a case against Coinbase, the major questions doctrine could turn out to be, well, a major question.
A new study from researchers at Dartmouth found at least 500 home runs since 2010 likely caused by climate change. It attributed at least 500 home runs since the 2010 season to warmer temperatures. The study from researchers at Dartmouth College offers the newest examples of how global warming could affect recreation nationwide in the future. The Dartmouth researchers acknowledge that the climate change factor is likely minor, as MLB teams hit 5,215 home runs last season, meaning the warmer temperatures only account for about 1% of the long balls. Different baseballs, faster pitches, stronger batters, and generally altered strategy with an emphasis on certain metrics like launch angle have a greater influence on home runs than climate change, the researchers said.
Mansplaining is still often a man's game, but it's something women can do, too. Studies suggest that mansplaining is more than a workplace frustration; it can have serious consequences both for companies and careers. Insider spoke with three workplace experts for advice on how managers and employees can deal with the office mansplainer. And if the mansplaining continues, you might need to shut it down in real time. Without an ally, it can be hard to put a stop to mansplaining as it's happening, Woolley said.
Every previous boom and bust in tech over the decades has resulted in winners and losers. The ones that survived were those that stayed agile, kept focused on innovation, and made sure their foundations were solid. Whichever way you slice it, one thing is certain, the valuations of most major tech companies were high — and now they're not. For Dr. Govindarajan, the theme is austerity, telling Insider that tech "can't afford to be wasteful" anymore. Some people would've lost," said Dr. Govindarajan.
It's something that the Treasury and regulators did in the depths of the 2008 global financial crisis, but regulatory reforms in 2010 required a streamlined approval from Congress. Meanwhile, hardline Republicans oppose any increase in the current $250,000 Federal Deposit Insurance Corp insurance limit. Yellen explained to the U.S. Senate on March 16 that there would be no guarantee for deposits in banks not deemed a systemic threat, spooking community banks. A temporary systemwide deposit guarantee is needed to stop the bleeding," Ackman said on Twitter after Yellen's testimony to a Senate committee on Wednesday. Yellen is due to testify later on Thursday before the U.S. House of Representatives Appropriations Subcommittee on Financial Services and General Government.
For the Time Capsule series, we spotlight a cherished restaurant, hotel or landmark that’s changed remarkably little over the years. This week, we visit Lou’s Restaurant & Bakery in Hanover, N.H.THENLike the men who streamed to Dartmouth College in the sleepy town of Hanover, N.H., on the GI Bill, Lou Bressett returned from World War II with high hopes. He opened an eatery—part doughnut shop, part diner, part informal town hall—on the east side of Main Street in 1947 and before long Lou’s Restaurant & Bakery was where town met gown.
The tech sector has already cut nearly 100,000 jobs this year. But for tech workers who were sold on the glamorous lifestyle these companies have provided over the last few decades, this is a blow to their self-image. It's unfortunate, Govindarajan said, but he added that these tech companies have disrupted other industries like photography, automobiles, and department stores. "There are many industries the tech sector disrupted where people got laid off. But now it's the turn of the tech sector itself," he told Insider.
Judicial Panel on Multidistrict Litigation, that the judge overseeing their Miami cases, U.S. District Judge Michael Moore, has already proven in their brand ambassador cases that he can steer FTX cases quickly and efficiently. Not everyone pursuing claims on behalf of FTX customers agrees with Boies and Moskowitz. (To be clear, these private cases are different from cases that could be brought by a court-appointed receiver or trustee in FTX’s Chapter 11 bankruptcy.) If the cases go to California, the California slate is a likelier candidate. It will be a few months before any ruling on the Boies and Moskowitz consolidation petition.
CompaniesCompanies Law firms Meta Platforms Inc FollowFeb 10 (Reuters) - To Facebook parent Meta Platforms Inc (META.O) and its lawyers at Gibson, Dunn & Crutcher, $925,000 isn't a whole lot of money. Chhabria, as you've probably heard, ordered Facebook and its lawyers to pay that sum to plaintiffs' lawyers as recompense for their bad-faith litigation tactics. "Does anyone really think that Facebook was planning on taking this case to trial?" This is, by far, the most likely explanation for Facebook and Gibson Dunn’s conduct." Facebook and its lawyers fell into their roles with ease, and then they took things way too far.”Gibson Dunn and Meta both declined to provide a statement on Chhabria’s order.
Right now, Wahi argued, crypto users are simply left guessing about their exposure to SEC enforcement — and that's not sustainable. That strategy, Hodl Law asserted, didn't give token-holders fair notice about whether their coins are securities. Otherwise, Hodl Law said, Ethereum users have no idea if the SEC will swoop in with an enforcement action. The SEC also said that it's not obliged to warn crypto users about its interpretation of securities laws. It also, however, provides the first robust explanation of an argument I expect to see more often in SEC crypto cases: SEC enforcement, according to Wahi, is precluded by the Supreme Court’s recently articulated major questions doctrine.
Karen Karniol-Tambour will join co-CIOs Greg Jensen and Bob Prince to oversee the hedge fund's investment strategy. Despite a breakout year for many multi-strategy and macro hedge funds, Bridgewater lagged behind its peers. Nir Bar Dea, co-CEOBar Dea. Bridgewater AssociatesAs cochief investment officer, Jensen oversees Bridgewater's investment strategies and research efforts as well as its investment talent. Since joining Bridgewater in 1986, he has been a partner in building the hedge fund's investment process and products.
In Kabul, the capital of Afghanistan, mannequins were once a symbol of fashion and culture. But in the past year, shop owners have resorted to displaying them headless or covered in cloth, just to keep their stores open. AP Photo/Ebrahim NorooziIn August 2021, the Taliban announced that shop owners must remove the heads of their mannequins, or do away with them all together. But several shop owners pleaded with the Taliban to let them keep their mannequins intact. Azizi told Insider that the Taliban forced locals to deface banners displaying photos of fashion models before trying to totally ban the use of mannequins.
In Kabul, the capital of Afghanistan, mannequins were once a symbol of fashion and culture. But in the past year, shop owners have resorted to displaying them headless or covered in cloth, just to keep their stores open. AP Photo/Ebrahim NorooziIn August 2021, the Taliban announced that shop owners must remove the heads of their mannequins, or do away with them all together. But several shop owners pleaded with the Taliban to let them keep their mannequins intact. Azizi told Insider that the Taliban forced locals to deface banners displaying photos of fashion models before trying to totally ban the use of mannequins.
Against a backdrop of slowing economic activity and demand, these "base effects" strongly suggest broader inflation has peaked and could fall rapidly in the coming months. Gregory Daco, chief economist at EY-Parthenon, reckons that these disinflationary dynamics will intensify, so much so that headline U.S. consumer price inflation may fall below 2% by the end of this year. Brent oil is below $80 a barrel, and on Wednesday its year-on-year price differential turned negative for the first time in two years. This trend is likely to continue due to base effects - Brent hit a 14-year peak around $130/bbl last March and was above $100/bbl as recently as July. According to the Bureau of Labor Statistics, the non-seasonally adjusted average monthly rate of consumer price inflation in the first half of last year was 1%.
That was apparently not what the Boies and Moskowitz firms were hoping. In mid-November, the firms filed the first of their three FTX lawsuits in federal court. On Nov. 21, the Boies and Moskowitz firms filed a second FTX class action, this time on behalf of non-U.S. FTX customers. The day after Bloom’s assignment to the case, the Moskowitz and Boies firms voluntarily dismissed the two previously-filed FTX class actions before Moore and Gayles. “As we got more cases, we filed more cases,” Moskowitz said.
[1/2] The logo of FTX is seen at the entrance of the FTX Arena in Miami, Florida, U.S., November 12, 2022. Ellison, who ran trading firm Alameda Research, has hired Washington-based law firm Wilmer Cutler Pickering Hale and Dorr to represent her, a source familiar with the matter told Reuters. Semafor previously reported Mills' advisory work for Bankman-Fried. FTX secretly transferred customer funds to its affiliate Alameda Research to fill a shortfall at the crypto trading firm, Reuters has previously reported. The Wall Street Journal has previously reported that Ellison and senior FTX officials knew the crypto exchange had dipped into its customer funds to help Alameda meet liabilities.
US President Joe Biden disembarks from Air Force One upon his arrival at the airport of Egypt's Red Sea resort city of Sharm El-Sheikh, to attend the COP27 climate conference, on November 11, 2022. It's soon time for Joe Biden, 80 on Sunday, to decide whether he has one more mountain to climb — the one to a second term as president. Getty: President Joe Biden gives remarks on student debt relief at Delaware State University on October 21, 2022 in Dover, Delaware. "While President Biden may chronologically be 80 years old, biologically he probably isn't," he said. U.S. President Joe Biden smiles during a rally with Democratic nominee for Maryland Governor Wes Moore, U.S.
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