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☆ US embassy in London refuses to pay $18.6 million in congestion charge fees
▼ + stars: | 2024-05-21 | by ( Louis Mian | ) edition.cnn.com time to read: +3 min

CNN —The US embassy in London is refusing to pay more than $18.6 million in charges from unpaid congestion fees, according to Transport for London (TfL), which oversees the city’s vast transport network. The congestion charge was introduced in 2003 in order to stem traffic and pollution in central London. However, TfL is insisting that in agreement with the UK government, London’s congestion charge constitutes a service and not tax. As of December 31, 2023, a total of 161 embassies, high commissions and consulates owed more than $182 million combined in unpaid congestion charge fees, according to TfL data. According to TfL’s figures, the Japanese embassy owes the second highest amount from unpaid congestion charge fees, at around $12.8 million.

Persons: ”, Dominic Raab Organizations: CNN, Transport, London, Drivers, TfL, International Court of Justice, Diplomatic Relations, U.S . Government, CNN “, of, Embassy, Foreign Office Locations: London, Vienna, of Japan

☆ Bank Regulator Overseeing ‘Toxic’ Culture Loses Key Supporter in Senate
▼ + stars: | 2024-05-20 | by ( Emily Flitter | ) www.nytimes.com time to read: +1 min

He called for Mr. Biden to nominate a successor and for the Senate to quickly confirm that person, who could then take over for Mr. Gruenberg. “There must be fundamental changes at the F.D.I.C.,” Mr. Brown said. “Those changes begin with new leadership, who must fix the agency’s toxic culture and put the women and men who work there — and their mission — first.”An F.D.I.C. spokesman declined to comment. Since then, Mr. Gruenberg has faced some calls to resign from members of both political parties who said they felt he had played too big a role in shaping the agency’s culture in recent years, including by making the agency’s staff fear communicating with him.

Persons: Sherrod Brown of, Biden, Martin Gruenberg, Brown, Gruenberg, ” Mr, Cleary Gottlieb Organizations: Federal Deposit Insurance Corporation, Banking Committee, Senate, Mr, Street Locations: Sherrod Brown of Ohio

The Joint Program Office declined to comment to Military.com regarding the restriction. A spokesperson for the Marine Corps could not provide details on the restriction but said efforts are underway to return the aircraft to full operations. Pedro Caballero, a spokesperson for the Marine Corps, told Military.com when asked whether the restrictions applied to its roughly 350 Ospreys, the vast majority of the military's fleet. US Marine Corps MV-22B Ospreys take off at Port Darwin in Australia. An MV-22B Osprey conducts an external lift with US Marines during helicopter support team training at Marine Corps Air Station in Miramar, California.

Persons: —, Military.com, Beth Teach, Cpl, Juan Torres, Capt, Pedro Caballero, Caballero, Colton Martin Lt, Rebecca Heyse, Amelia Kang, Brian Taylor, Taylor, Juan Paz Taylor Organizations: Service, Force, Marine Corps, Ospreys, Business, Navy, Naval Air Forces, Office, Naval Air Systems Command, Royal Australian Air Force Base, US Marine Corps, Corps, Port Darwin, Air Force Special Operations Command, Greyhound, House Armed Services, US Marines, Marine Corps Air, Services, Aviation, Air Force, Marines, Program Office, Marine, US Air National Guard, Staff Locations: Japan, Port, Australia, Miramar , California, Darwin, Washington ,, Lemonnier, Djibouti

☆ 7 tips for looking for a job in government contracting, according to recruiters
▼ + stars: | 2024-05-19 | by ( Ana Altchek | ) www.businessinsider.com time to read: +7 min

Business Insider talked to three recruiters in the field to learn the best practices for getting a job in the industry. Make sure your clearances are up to dateMany government contracting roles require clearances, which can vary depending on the role and may also expire over time. Reach out to recruiters directlySince many government contracting opportunities have specific requirements, it can make a big difference to speak with a recruiter directly to find out what you need to do for that specific job. The site allows users to browse through thousands of open roles, many of which have contact info for recruiters. Grussendorf recommends reaching out to recruiters, talent acquisition at staffing agencies, or direct employers and telling them the job and salary range you're looking for to stay on their "candidate hot list."

Persons: —, Matt Grussendorf, Grussendorf, Lauren Irizarry, you've, Irizarry, it's, Quadesha Bynum, Bynum Organizations: Service, Business, Judge, —, Recruiting, Group, D.C, Employers Locations: Seattle, Southern California , Alabama, Denver

☆ 7 tips to help you get a job in government contracting, according to recruiters
▼ + stars: | 2024-05-19 | by ( Ana Altchek | ) www.businessinsider.com time to read: +7 min

While lower pay in government jobs is sometimes viewed as a drawback of the sector, contracting companies tend to pay better than the federal government, and opportunities in this field are also increasing. Business Insider talked to three recruiters in the field to learn the best practices for getting a job in the industry. Make sure your clearances are up to dateMany government contracting roles require clearances, which can vary depending on the role and may also expire over time. Reach out to recruiters directlySince many government contracting opportunities have specific requirements, it can make a big difference to speak with a recruiter directly to find out what you need to do for that specific job. The site allows users to browse through thousands of open roles, many of which have contact info for recruiters.

☆ Robots and AI are being used to help women get pregnant. Is this the future of IVF?
▼ + stars: | 2024-05-18 | by ( Blake Dodge | ) www.businessinsider.com time to read: +21 min

There, a startup called Conceivable Life Sciences is automating the IVF lab from start to finish. Conceivable Life SciencesEleven women so far have become pregnant with help from one or more of these Conceivable robots. Conceivable Life Sciences"No baby, no fee"Today, IVF demand is surging, despite the treatment being slow, uncertain, and expensive. Conceivable's future IVF lab. Conceivable Life SciencesFrom prayer to AIHalf a continent away, a physician was growing frustrated by the constraints of his job.

Persons: —, robotically, embryologist Jacques Cohen, Cohen, Joshua Abram, Conceivable's, Abram, Lora Shahine, Emma wasn't, Emma, Alan Murray, Murray, — embryologists, that's, Alejandro Chávez, Badiola, REI, didn't, Conceivable's cofounders, Dr, REIs, What's, Langham, Conceivable's cofounders tinker, Tesla, Brian Bixon, Gerardo Mendizabal, Ruiz, Bixon, Carla Patricia Barragan Álvarez, OBGYNs, aren't, Eduardo Hariton, Hariton Organizations: Service, Business, Sciences, BI, New York City, pipettes, Life Sciences, San, Langham Hotel, Quest Diagnostics Locations: Guadalajara, Mexico, New York, Seattle, pipettes, Petri, San Francisco, London, Abram, Mexico City

☆ Why the biggest real estate funds still struggle
▼ + stars: | 2024-05-17 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +8 min

Read previewBlackstone, the world's largest landlord, contends the worst is over for commercial real estate. In the first quarter, shareholders in Blackstone Real Estate Income Trust, or BREIT, its $59 billion flagship real estate investment fund, pulled out almost a billion dollars a month on average, according to the company's first-quarter earnings statement. A similar investment fund operated by Barry Sternlicht's Starwood Capital has had an even greater retreat by investors. Share pricing is determined through appraisals of the value of the underlying real estate holdings. In May, Blackstone Real Estate Partners X also completed the $3.5 billion acquisition of Tricon Residential, an owner of single family rental homes.

Persons: —, Barry Sternlicht's, Kevin Gannon, BREIT, reinvigorating, anemic, REITs, Jonathan Gray, Blackstone Heidi Gutman, NBCUniversal, Jon Gray, they're, Gray, outperformance, redemptions, Blackstone, Gannon, They're, Sternlicht, Todd Henderson, REIT, Henderson, It'll Organizations: Service, Investors, Income Trust, Business, Barry Sternlicht's Starwood Capital, Starwood Real, Blackstone, Starwood, KKR, Apollo, Federal Reserve, Communities, Blackstone Real Estate Partners, Tricon Locations: Blackstone, Brookfield, BREIT, Tricon, Nashville, DWS

☆ Viral ‘courtesy’ letter American Airlines gives flight attendants shows how little they make
▼ + stars: | 2024-05-17 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +5 min

An employment verification letter American Airlines gives to some newly hired flight attendants documenting their salary has been circulating on Reddit, drawing attention to their low wages. The union says that flight attendants’ low salaries compared to top airline executives is a prime example of “corporate greed.”New flight attendants at American Airlines start at $27,000 per year. Robert Isom, the CEO of American Airlines, earned $31.4 million last year — 1,162 times more than a new attendant. American Airlines flight attendants have not gotten a raise since 2019, and the union is escalating its push for a new contract to raise wages. Flight attendants for United Airlines, Alaska Airlines and other carriers are also pushing for new contracts to raise wages.

Persons: haven’t, “, –, Robert Isom, Paul Hartshorn, APFA, Joe Biden, ” Hartshorn, ” Organizations: New, New York CNN, American Airlines, Association of Professional, Nutrition Assistance, SNAP, CNN, United Airlines, Alaska Airlines, Bureau of Labor Statistics, Railway Labor, Board, Airlines, “ Management, Southwest Airlines Locations: New York, Massachusetts

☆ How Google CEO Sundar Pichai shook up his leadership team for the AI era
▼ + stars: | 2024-05-16 | by ( Hugh Langley | ) www.businessinsider.com time to read: +11 min

It came almost 12 months after Google combined two key AI groups, DeepMind and Google Brain. Google's AI MVPGoogle DeepMind CEO Demis Hassabis GoogleDemis Hassabis might be the most important person at Google right now. Then, in April last year, Pichai announced he would merge DeepMind with Google's in-house AI unit, known as Brain, into a supergroup named Google DeepMind. Reid reports directly to Raghavan, the ads and search senior vice president, and is shepherding a dramatic transition of Google Search. Fears of chatbots eating into Google's search dominance have yet to be realized, giving Google time to reinvent its most hallowed product.

Persons: —, Sundar Pichai, Pichai, Susan Wojcicki, Demis, Hassabis, Larry Page, DeepMind, OpenAI, it's, accrues, ED JONES, Rick Osterloh, Sameer Samat, he'll, Hiroshi Lockheimer, Osterloh, Prabhakar Raghavan, Siri, Tim Cook, Hiroshi, SAJJAD HUSSAIN, Liz Reid, Reid, Raghavan, Pandu Nayak, Venkatachary, It's, chatbots, Bernstein, Mark Shmulik Organizations: Service, Google, Business, Google's, BI, Research, Hassabis, Android, Apple, Apple's Vision, CNBC, Google Local Locations: Raxium

☆ Slovakia's prime minister no longer in life-threatening condition after assassination attempt
▼ + stars: | 2024-05-16 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Slovakia's Prime Minister Robert Fico walks during the European Council summit at the EU headquarters in Brussels, on April 18, 2024. Slovakia's populist Prime Minister Robert Fico is expected to survive a multiple-shot assassination attempt following surgery, according to the country's deputy prime minister. The Slovakian premier's condition has stabilized but remains serious, Reuters cited a hospital official as saying on Thursday. "The shooting of the prime minister is first and foremost an attack against an attack on a human being – but it's also an attack on democracy," she said in an officially translated video. Fico has served as prime minister of Slovakia for around 10 years across three mandates, heading the Smer (Direction) party.

Persons: Robert Fico, Tomas Taraba, Šutaj Eštok, Zuzana Caputova, it's, Fico Organizations: Slovakia's, EU, BBC, Reuters, CNBC, Slovakian Ministry of Interior, Ministry of Foreign Affairs, Slovakian, Sky News, Russia, RTVS Locations: Brussels, Slovakian, Slovak, Handlova, Banska Bystrica, Slovakia, Ukraine

☆ Top bond fund manager Ford O'Neil of Fidelity reveals his 'secret sauce' to generate outperformance
▼ + stars: | 2024-05-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

He previously took home the title of Morningstar fixed-income manager of the year in 2016. Generating long-term outperformance The largest among the many funds O'Neil co-manages is the Fidelity Total Bond Fund (FTBFX), which has $35.8 billion in assets and a 5.32% 30-day SEC yield. From December 2004 through the end of March 2024, Fidelity Total Bond Fund's 3.7% annualized gain topped the typical intermediate core-plus bond Morningstar Category fund's 3.3% and the 3.1% of its benchmark, the Bloomberg U.S. The 'secret sauce' The fixed-income team also benefits from teaming up with equity analysts when they talk to corporate executives, public agencies and government issuers. "If you're a buyer of nominal yields, you're finding the market very attractive.

Persons: Fidelity's Ford O'Neil, O'Neil, O'Neil —, Morningstar, Ford …, Dan Culloton, Morningstar's Culloton, FTBFX, it's Organizations: Fidelity, Harvard University, One, CNBC, Harvard, Bond Fund, SEC, Bloomberg U.S, Total Bond, Bond, Federal Reserve, Fed, Treasury Locations: Wharton, U.S

☆ Putin axes defense minister, replaces him with an economist
▼ + stars: | 2024-05-13 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Putin replaced his longtime defense minister Sergei Shoigu with an economist Andrey Belousov. AdvertisementRussian leader Vladimir Putin is replacing his longtime defense minister Sergei Shoigu, 68, with an economist. On Sunday, Putin named former deputy prime minister and economic development minister Andrey Belousov, 65, as his new defense chief. Shoigu, who served as defense minister since 2012, now runs Russia's Security Council instead, taking over from Putin ally Nikolai Patrushev. Representatives for Russia's defense ministry didn't immediately respond to a request for comment from BI sent outside regular business hours.

Persons: Vladimir Putin, Putin, Sergei Shoigu, Andrey Belousov, Belousov, —, Dmitry Peskov, Shoigu, Nikolai Patrushev, Peskov, Timur Ivanov, Admiral Sir Tony Radakin, Wagner, Yevgeny Prigozhin, Prigozhin, Shoigu's, It's, didn't Organizations: Sunday, Service, TASS, Russian Ministry of Defense, Security, Putin, Industrial Commission, CNN, BI Locations: Shoigu, Russia, Ukraine

☆ New Rules to Overhaul Electric Grids Could Boost Wind and Solar Power
▼ + stars: | 2024-05-13 | by ( Brad Plumer | ) www.nytimes.com time to read: +1 min

Federal regulators on Monday approved sweeping changes to how America’s electric grids are planned and funded, in a move that supporters hope could spur thousands of miles of new high-voltage power lines and make it easier to add more wind and solar energy. The new rule by the Federal Energy Regulatory Commission, which oversees interstate electricity transmission, is the most significant attempt in years to upgrade and expand the country’s creaking electricity network. A big reason for the slow pace of grid expansion is that operators rarely plan for the long term, the commission said. The nation’s three main electric grids are overseen by a patchwork of utilities and regional grid operators that mainly focus on ensuring the reliability of electricity to homes and businesses. When it comes to building new transmission lines, grid operators tend to be reactive, responding after a wind-farm developer asks to connect to the existing network or once a reliability problem is spotted.

Organizations: Federal Energy Regulatory Commission

☆ In Maryland’s Democratic Senate primary, a high-stakes clash between a history-making pick and a candidate with deep pockets
▼ + stars: | 2024-05-11 | by ( Simone Pathe | ) edition.cnn.com time to read: +11 min

Silver Spring, Maryland CNN —The farmers market in this suburb of Washington, DC, was a ripe crowd for Angela Alsobrooks, who’s locked in an increasingly contentious Senate Democratic primary on Tuesday. “I would really like to see a Black woman in the Senate. If elected in November, Alsobrooks, the executive of Prince George’s County, could become only the third Black woman ever elected to the Senate. (The one Black woman currently serving — California’s Laphonza Butler — was appointed and isn’t running to stay beyond this year.) “Electing women is not just good for Maryland,” Alsobrooks told supporters assembled outside her campaign office.

Persons: Angela Alsobrooks, who’s, “, Kathy Pruitt, California’s Laphonza Butler —, Alsobrooks, David Trone, ”, Mileah Kromer, Trone, Larry Hogan, ” Pruitt, Hogan, Brian Snyder, “ I’ve, ” —, it’s, ” Alsobrooks, ” Ellen Malcolm, —, Maryland’s Barbara Mikulski, Wes Moore, Sen, Ben Cardin, Barbara Lee, Lisa Blunt Rochester, Pamela Luckett, “ It’s, that’s, he’ll, Alsobrooks hasn’t, doesn’t, Joanne Benson, Donald Trump, It’s, Prince, Krystal Oriadha, you’re, — who’s, — doesn’t, ” Benson, She’s, Glynda Carr, Black, ” Carr, hasn’t, Pruitt Organizations: Maryland CNN, Democratic, Takoma Park, Prince, Senate, Goucher College Poll, Maryland, House Democratic, GOP Gov, Maryland Gov, Saint Anselm College, Reuters, Bowie, Democrats, PAC, Washington Post, Gov, California Rep, Spring, Republicans, NBC, CNN, Capitol, ”, GOP, AFI, NRA, Higher Locations: Maryland, Washington, Alsobrooks, Prince George’s County, George’s, Manchester , New Hampshire, Black, America, who’s, Delaware, Prince George’s, Higher Heights

CNN —Florida A&M University is putting a purported $237.75 million donation “on pause,” after media reports and college board leaders raised concerns about the actual value of the stock gift—and the details surrounding the donor’s previous donations. South Carolina’s Coastal Carolina University had announced a $95 million donation from an anonymous donor, who then backed out months later. At an emergency board meeting on Thursday, FAMU board of trustee and foundation members expressed their concerns and frustration about the school’s vetting process involving Gerami’s donation. He referred questions to the university and agreed to answer CNN’s questions on the following day, but he couldn’t be reached. FAMU’s Special Board of Trustees, which oversees the full school and the foundation, has scheduled a meeting for May 15 to discuss the donation.

Persons: ”, Larry Robinson, It’s, Gregory Gerami, Robinson, Gerami, Deveron Gibbons, ” Gibbons, “, Gibbons, Kristin Harper, ” Harper, FAMU, Stroud, Terry Arnold Organizations: CNN, Florida, M University, Batterson Farms Corp, Politico, Carolina’s Coastal Carolina University, Myrtle Beach Sun News, FAMU Foundation, university’s, Trustees, Foundation Board, University Advancement Shawnta, FAMU Locations: Texas, Carolina’s, Florida

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

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

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

☆ Former students say a California school district 'ignored and concealed' sexual abuse
▼ + stars: | 2024-05-08 | by ( Matt Drange | ) www.businessinsider.com time to read: +14 min

Three former students have filed suit, saying a SoCal school district failed to protect them from "rampant" sexual abuse. AdvertisementA group of sexual abuse survivors have filed suit in Los Angeles Superior Court, saying their high school district failed to protect them from predatory teachers for years. Administrators failed to properly supervise employees, the lawsuit claims, and repeatedly "ignored and concealed the sexual abuse of minor students." "It's about protecting the interests of the school district over protecting children." After leaving a job as PE teacher in the Lake Washington School District outside of Seattle, Scott Nelson was coaching basketball in the Issaquah school district.

Persons: —, Clara, Wing Chan, Alex Rai, Jane Doe, Eduardo Escobar, Escobar, I've, Michael Carrillo, Carrillo, Mark Abramson, Edward Zuniga, Chan, Rai, Edwin Reyes Villegas, Villegas, David Pitts, Pitts, Cindy, Ross Perry, Pitts didn't, didn't, Kristy, Sofia Hernandez, EMUHSD, Lee, William Riddell, Riddell, Lee couldn't, they'd, Jason Miyares, Erin Sucher O'Grady, Sucher O'Grady, Tony Arnold, Eric Burgess, she'd, David Brobeck, Brobeck, he'd, Nicole Miller, Burgess, Scott Nelson, He'd, Nelson, Lax, Matt Drange Organizations: Business, Rosemead, Service, Los Angeles Superior Court, Southern, Los, Los Angeles County Sheriff's Department, El Monte Union High School District, Business Insider, LA County Probation Department, Gabrielino, Ceanothus, High School, Fairfax County Police, Virginia Attorney's, Virginia, Fairfax County Police Department, Clayton High School, Laguna Beach High School, Laguna Beach Unified School District, Associates, Lake Washington School District, Issaquah, of Education, Los Angeles County Sheriff's, Temple City Locations: Los Angeles, Southern California, LA, California, Loudoun County , Virginia, Spokespeople, Fairfax, Louis County , Missouri, Laguna, Rosemead, Seattle, Issaquah, Lake Washington, Temple

☆ Inquiry Finds a Toxic Culture at the F.D.I.C., and Takes Aim at Its Leader
▼ + stars: | 2024-05-07 | by ( Emily Flitter | ) www.nytimes.com time to read: +1 min

A report on workplace culture at the Federal Deposit Insurance Corporation released on Tuesday revealed a broad, yearslong pattern of sexual harassment, discrimination and abuse of mostly women and members of minority groups by senior officials. The findings are likely to lead to another potentially bruising round of questions for the agency’s chair, Martin Gruenberg, who is scheduled to testify in Congress later this month. It described “fiefdoms” in regional offices, where senior managers protected other longtime employees from potential consequences stemming from more junior employees’ claims of mistreatment. Examples of the behavior, including senior examiners texting junior women pictures of their genitalia or taking them to brothels, were first reported by The Wall Street Journal in November. Tuesday’s report was the result of an independent investigation by Cleary Gottlieb, which was hired by a special committee created by the agency’s board after The Journal’s report.

Persons: Martin Gruenberg, ”, “, Cleary Gottlieb, ’, Tuesday’s Organizations: Federal Deposit Insurance Corporation, Wall Street

☆ Giant Batteries Are Transforming the Way the U.S. Uses Electricity
▼ + stars: | 2024-05-07 | by ( Brad Plumer | Nadja Popovich | ) www.nytimes.com time to read: +17 min

Uses Electricity They’re delivering solar power after dark in California and helping to stabilize grids in other states. Peak demand average daily generation, by fuel type Peak demand 25k 25k megawatts megawatts Imports 20k 20k 15k 15k Gas Solar power Batteries Solar power 10k 10k Wind 5k 5k Hydro Nuclear 0 0 12a.m. Peak demand average daily generation, by fuel type Peak demand 25k 25k megawatts megawatts Imports 20k 20k 15k 15k Gas Solar power Batteries Solar power 10k 10k Wind 5k 5k Hydro Nuclear 0 0 12a.m. Ga. Ga. Texas Texas La. By The New York TimesMost grid batteries use lithium-ion technology, similar to batteries in smartphones or electric cars.

Persons: …, ”, Helen Kou, Conn ., Mo ., R.I, Conn . Conn ., . Kan ., “, Andrés Gluski, Mike Blake, John Phipps, Phipps, Stephanie Smith, Aaron Mitchell, Natalie McIntire, Tamir Kalifa, Emma Konet, Max Kanter, BloombergNEF, you’ve, Meredith Fowlie, Nate Blair, “ We’re, Ross D Organizations: Hydro Nuclear, Hydro, The New York Times, “, United States U.S, Conn . Pa . Iowa Neb, N.J . Ohio Nev, Del . Utah Ill, Texas, Fla ., Vt, Wis ., Wis . Idaho Idaho S.D, Pa . Iowa Iowa Neb, Neb . N.J . N.J . Ohio Ohio Nev, Del . Utah Utah Ill, . Energy, AES Corporation, Reuters, California, Georgia Power, Natural Resources Defense Council, Nationwide, The New York Times Grid, University of California, National Renewable Energy Laboratory, Franklin, Associated Locations: California, The New York Times California, China, Texas , California, Arizona, Wash . Maine, Minn, Ore, N.H, N.Y, Mass, Wis . Idaho S.D, Mich, Wyo, R.I, Conn, Conn . Pa . Iowa, N.J . Ohio, Del . Utah, Calif, Md, Colo, W.Va . Va, Mo, Mo . Kan, Ky, N.C, Tenn, Ariz, ., S.C . California, Ala, Miss ., Fla, Alaska Texas, Hawaii, Wash . Maine Maine Mont, Mont, Vt, Wis, Wis . Idaho Idaho, S.D . Mich, Conn . Conn, Conn . Conn . Pa, Pa . Iowa, Neb . N.J . N.J . Ohio, Nev . Ind, Ind, Del, W.Va, W.Va . Va . Va, . Kan . Kan, S.C . Ala . Ala . Miss, . Texas Texas, La, Fla . Alaska Alaska Hawaii Hawaii California, Texas, Menifee, . California, ” In Texas, Fort Worth, West Texas, Georgia, Sweetwater , Texas, Tierra, Berkeley, Sacramento

☆ 10 of the biggest moments in Met Gala history
▼ + stars: | 2024-05-06 | by ( Mykenna Maniece | ) www.businessinsider.com time to read: +2 min

The Met Gala is home to some of history's biggest fashion and pop-culture moments. Zendaya's Joan of Arc-inspired look from 2018's Gala remains one of her most iconic fashion moments. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Throughout the years, the Met Gala has transformed into a multimillion-dollar fundraiser — last year's event reportedly raised $22 million — filled with unforgettable fashion, controversies, and canon-level pop-culture moments. AdvertisementAs the world awaits all that this year's party has to offer on May 6, here's a look back at 10 memorable moments in Met Gala history.

Persons: Taylor, Joan of Arc, —, What's, Eleanor Lambert, who's, Diana Vreeland, Pat Buckley, Anna Wintour, Condé Nast, Wintour Organizations: Service, New York, Metropolitan Museum, Art's, Vogue, Party

☆ Opinion | The Case for Letting Mortgages Move With Us
▼ + stars: | 2024-05-06 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

At the moment, the market for existing homes is partly frozen because people who have 3 percent mortgage loans don’t want to give them up for 7 percent loans on new homes. Making mortgages portable sounds unrealistic. After all, mortgages are tied by contract to particular pieces of property. “We’re getting this question a lot, even from our own members,” Mike Fratantoni, the group’s chief economist, told me. Nevertheless, he said he couldn’t imagine that owners of securitized loans would go along with the idea.

Persons: Fannie Mae, Freddie Mac, “ We’re, ” Mike Fratantoni, there’s Organizations: Federal Housing Finance Agency, Mortgage Bankers Association

☆ Meet nuclear power's newest fans: data centers
▼ + stars: | 2024-05-06 | by ( Daniel Geiger | Ellen Thomas | ) www.businessinsider.com time to read: +11 min

The deal illustrates data centers' new-found interest in nuclear power. Joe Dominguez, the CEO of Constellation, the nation's largest operator of nuclear plants, said in a March earnings call that powering data centers with nuclear energy was "kind of a perfect marriage." AdvertisementVistra, another nuclear owner, also indicated it was arranging data center deals for a nuclear plant it owns in Ohio and one in Texas. Greg Poulos, the executive director of a PJM watchdog group, said that "one of my highest priority, highest radar items" is how data centers could push costs onto consumers and also whether nuclear data centers deals could reduce grid reliability. Beyond the nuclear optionNot all data centers, of course, are seeking out nuclear power to seize their energy independence.

Persons: —, Wes Swenson, Swenson, Joe Dominguez, Jim Burke, Ralph La Rossa, La Rossa, Steve Helber, Burke, Dominguez, PJM, Michael Jacobs, Brian Janous, Greg Poulos, Poulos, Biden Organizations: Service, Susquehanna, Amazon, Business, US Energy Information Administration, Nuclear, Constellation, Public Service Enterprise Group, Microsoft, International Energy Agency, Dominion Energy, Talen Energy, Energy, Union of Concerned Locations: Pennsylvania, Salt Lake City, Ohio, Texas, New Jersey, Our, Jersey, Virginia, Chester , Va, Susquehanna, Chicago, New York City

☆ I started a business with my mom right out of college and we've grown it to 7 figures in revenue. I've never had a real job, and I love being my own boss.
▼ + stars: | 2024-05-06 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +6 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . After graduating with a psychology degree in 2010, I went into business with my mom, Ann Lightfoot. What started as a mother-daughter duo organizing closets and hauling trash has turned into a successful business with 14 employees. Clients started pouring in.

Persons: Kate Pawlowski, Ann Lightfoot, Pawlowski, —, It's, I've, Lightfoot, Julia D'Agostino, We've, we've, Decluttering Organizations: Service, Facebook Locations: Montclair , New Jersey, New York

☆ Congestion Pricing’s Billions to Pay for Nuts and Bolts of Subway System
▼ + stars: | 2024-05-06 | by ( Winnie Hu | ) www.nytimes.com time to read: +1 min

New York City’s congestion pricing program is scheduled to begin charging tolls to drive into the busiest parts of Manhattan next month, with the aim of generating a $15 billion windfall for the mass transit system. That money would not translate into lower fares or a huge subway expansion. The Metropolitan Transportation Authority, which oversees congestion pricing, has already earmarked the entire $15 billion for long-planned projects. Since congestion pricing has yet to get off the ground, the M.T.A. And now that $15 billion accounts for half the money the authority is expecting to finance its remaining projects.

Organizations: Metropolitan Transportation Authority Locations: York, Manhattan

☆ Yen gives up ground vs dollar following surge on suspected intervention
▼ + stars: | 2024-05-02 | by ( ) www.cnbc.com time to read: +3 min

An attendant holds a sample of newly-designed Japanese 10,000 yen banknote, with three-dimensional holographic technology to prevent forgery, for a photograph at the National Printing Bureau Tokyo plant in Tokyo, Japan, on Wednesday, June 28, 2023. The yen gave up ground in early trade on Thursday, reversing direction after a sudden surge against the dollar overnight that traders and analysts were quick to attribute to intervention by Japanese authorities. The dollar was 0.9% higher at 155.98 yen as of 0100 GMT, retracing about half of its late Wednesday surge from around 157.55 to exactly 153 over a period of about 30 minutes. "The 'sneak attack' element really is the MOF (Japan's Ministry of Finance) looking to punish speculators and send a warning about shorting the yen." That helped lift the dollar to a 34-year peak of 160.245 yen on Monday and also spurred a sharp reversal which official data suggested was due to Japanese intervention totalling about $35 billion.

Persons: Jerome Powell, Masato Kanda, Kyle Rodda, Sterling, Powell, Jack Mclntyre Organizations: National Printing Bureau, Federal Reserve, Reuters, Capital.com, Japan's Ministry of Finance, Bank of Japan, Brandywine Locations: National Printing Bureau Tokyo, Tokyo, Japan, U.S, Melbourne

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