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☆ Mark Cuban Has a New Job: Working at an Online Discount Pharmacy
▼ + stars: | 2022-12-09 | by ( Joseph Walker | ) www.wsj.com time to read: 1 min

DALLAS—When Mark Cuban got an email in 2018 from a stranger asking if he wanted to invest in a company dedicated to bringing down the cost of prescription drugs, he replied: “Tell me more.”Today, the Dallas Mavericks owner and entrepreneur is helping steer the fledgling startup as it takes aim at high prescription drug prices and the industry middlemen who he says keeps them that way.

☆ Many security lapses led to escape of Texas inmate accused of killing 5 while on the run, reports find
▼ + stars: | 2022-12-09 | by ( The Associated Press | ) www.nbcnews.com time to read: +6 min

The Texas Department of Criminal Justice, or TDCJ, conducted an internal review of the escape and also hired an outside firm to do an independent review. Texas Department of Criminal JusticeAdditionally, two officers had falsified search logs indicating Lopez’s cell had been searched when it had not. Attorneys for the Collins family have notified the Texas agency that they plan to file a lawsuit against it over the deaths. CGL also made several recommendations, including suggesting TDCJ reconfigure transport buses to improve security and develop strategies to reduce its staff vacancies. In the month before Lopez’s escape, 43% of correctional officer jobs at the Hughes Unit were vacant.

☆ FTX founder Sam Bankman-Fried committed 'out and out fraud,' investment firm says
▼ + stars: | 2022-12-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFTX founder Sam Bankman-Fried committed 'out and out fraud,' investment firm saysMark Carnegie of MHC Digital Group discusses the fallout from FTX's collapse.

[1/2] BNP Paribas logo and stock graph are seen in this illustration taken, May 1, 2022. Investment banks typically use standardised job titles to mark career milestones, starting at analyst and culminating at managing director. "BNP Paribas is communicating corporate titles to employees in the London Branch that reflect their existing roles to standardise terminology across all business lines," a spokesperson told Reuters. A broker at BNP Paribas in London was awarded 2 million pounds ($2.45 million) in January, one of the biggest payouts in a UK equal pay suit. Deploying standardised job titles should make it easier for employees to understand where they rank on the bank's career ladder.

Oil companies are facing faltering prices and Canadian firms are also absorbing an unusually punishing discount for their heavy-grade crude. Net debt represents a company's gross debt minus cash and cash-like assets. It faced an existential threat in 2020 when the COVID-19 pandemic crushed oil prices. Canadian producers also absorb a $29 per barrel discount due to distance from U.S. refineries and lower heavy oil demand. If oil prices dip below $65, companies may tighten spending but opt to reduce capital budgets before shareholder returns, Bushell said.

☆ Check out the 12-page pitch deck that raised $5 million for a live events startup backed by Mark Cuban
▼ + stars: | 2022-12-08 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Recess, an experiential marketing platform, just raised $5 million in Series A funding. It matches marketers like DoorDash and Milk Bar with events and venues such as WeWork, SoulCycle, and concerts. Backed by Mark Cuban, Recess is trying to grow the market by automating what's traditionally been a manual process. Events and venues can list themselves on its platform for free, and marketers enter parameters like date, event type, and reach. Recess grew out of a media and events company, The Recess Music & Ideas Festival, started by Indiana University alums Jack Shannon and Deuce Thevenow.

☆ Campbell’s Turnaround Has Reached Full Boil
▼ + stars: | 2022-12-07 | by ( Aaron Back | ) www.wsj.com time to read: 1 min

Campbell Soup has gone from one of the most troubled companies in the packaged-food sector to one of the strongest. That may be partly luck, as both the pandemic and the current inflationary environment turned out to be favorable for its portfolio of soup, sauce and snack brands. But it is also a vindication of the leadership of Chief Executive Mark Clouse , who chose to invest in some of the company’s aging brands that prior leaders seemed nearly ready to give up on.

Dec 6 (Reuters) - An Oklahoma man was charged with four counts of murder in the killing and dismemberment of four men he believed were stealing from his salvage yard, according to court documents. Joseph Lloyd Kennedy, 67, was charged in Okmulgee County court on Monday. Kennedy was already on probation for shooting a man in 2012 who he believed was stealing from his salvage yard. Okmulgee County district attorney Carol Iski, who announced the charges against Kennedy on Monday, was asked by reporters whether the men were stealing from Kennedy's salvage yard. She replied that it would not matter as "we don't have a death penalty in Oklahoma for stealing."

☆ FTX's Bankman-Fried hires white collar defense attorney Mark Cohen
▼ + stars: | 2022-12-06 | by ( Chris Prentice | ) www.reuters.com time to read: +3 min

Bankman-Fried has retained Cohen, of Cohen & Gresser, Bankman-Fried's spokesperson Mark Botnick said in an emailed statement. In recent weeks, U.S. authorities have sought information from investors and potential investors in FTX, according to two sources with knowledge of the requests. Federal prosecutors in New York are asking for details on any communications such firms have had with the crypto firm and its executives, including Bankman-Fried, the sources said. The Securities and Exchange Commission has been asking for similar information from investors as well, one of the sources said. "I didn't ever try to commit fraud," Bankman-Fried said, adding that he doesn't personally think he has any criminal liability.

☆ Moscow and other Russian cities are scaling back or canceling New Year parties to spend the money attacking Ukraine
▼ + stars: | 2022-12-06 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +3 min

Russia's military is still struggling with a number of problems on the frontlines in Ukraine. As a result, some Russian cities have canceled or scaled down their New Year's celebrations. Moscow is still holding a New Year celebration — but it will not include fireworks, its mayor said. In Moscow, Mayor Sergey Sobyanin said the capital would hold a toned-down celebration, forgoing the usual firework show and mass concert. Some Russian activists last week accused him of spending billions on Russia's military while many of them freeze back home, The Daily Beast reported.

☆ Mark Cuban cold-called the Dallas Mavericks' CEO to get her to take the job
▼ + stars: | 2022-12-06 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +4 min

Finally returning his messages eventually led to her appointment as CEO of the Dallas Mavericks, Cuban's NBA team. "I honestly didn't know who Mark Cuban was," Marshall told the Dallas Observer in 2018. Marshall told Fortune in October of her thinking at the time. Since the two were initially strangers, their first phone call simply involved "getting to know a little about each other," Marshall told Yahoo Finance. Cuban laid out the issues facing the Mavericks' workplace on the phone, Marshall said.

☆ 17-year-old 'Shark Tank' contestant made slime in his garage, sold it to his friends, brought in $1 million in just 3 years
▼ + stars: | 2022-12-05 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

Since 2020, Mark Lin has brought in at least $1.2 million selling food-scented slime from his garage in Burbank, California. Lin's company Sliimeyhoney was profitable almost from its inception, despite being run by a high school student at the time. Lin made the slime himself, hired 11 friends to help package and ship it, and sold $50,000 worth of product in his first year, he said on the show. Wonderful," said he'd invest $150,000 for 30% of the company if Lin could create a "Wonder Slime" flavor for his followers. John suggested that Lin stick with $150,000, because Sliimeyhoney already had a healthy cash flow.

☆ Grimes says her 2-year-old son with Elon Musk says the f-word when his 'fake' rockets fail to take flight
▼ + stars: | 2022-12-04 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

Grimes said her two-year-old son with Elon Musk gets frustrated when playing with his toy rockets. After one toy failed to reach orbit, she said X Æ A-12 exclaimed: "Fuckin rocket is too fuckin heavy." Grimes, the mother of two of the SpaceX CEO's children, tweeted that their son gets frustrated when playing with toy rockets: "'fuckin rocket is too fuckin heavy' – my 2 ur old son after his toy rocket failed to reach orbit." Their son, X Æ A-12, was born in May 2020. Mark Cuban texted Musk after the birth of one of his children asking how many offspring he was planning to have.

☆ More Foreclosures, Easier Mortgages Would Help Fix America's Housing Market
▼ + stars: | 2022-12-03 | by ( James Rodriguez | ) www.businessinsider.com time to read: +15 min

These standards are based on factors including the borrower's financial stability and the state of the housing market and economy. Finding the right size for the credit box is much easier said than done. A tidal wave of foreclosures followed, plunging the US housing market — and the global economy — into chaos. Even just stabilizing the credit box over time could also help smooth out some of the boom-and-bust cycles that have come to define the housing market. "If we do not address this intrinsic cyclicality, the housing market will continue to experience boom-bust cycles, leaving destruction in their wake," the paper said.

☆ Man allegedly confessed to slayings of 4 Oklahoma bicyclists, court records show
▼ + stars: | 2022-12-02 | by ( Minyvonne Burke | Minyvonne Burke Is A Senior Breaking News Reporter For Nbc News. | ) www.nbcnews.com time to read: +3 min

A man arrested in connection with the slayings of four Oklahoma bicyclists’ allegedly told a friend that he killed and dismembered them because "they were stealing from him," court documents show. From left, Alex Stevens, Mark Chastain, Billy Chastain, and Mike Sparks. Court documents state that Kennedy parked his Chrysler PT Cruiser across the street from the scrap yard around 3 p.m. on Oct. 9, before the killings. Kennedy allegedly traveled back and forth from the scrap yard several times. Bloodied items belonging to Mark Chastain were also found in the vacant lot, the document says.

☆ Venezuela and Chevron sign oil contract in Caracas
▼ + stars: | 2022-12-02 | by ( Kareem El Damanhoury | ) edition.cnn.com time to read: +2 min

CNN —The Venezuelan government and American oil company Chevron have signed a contract in Caracas on Friday to resume operations in Venezuela, according to the country’s state broadcaster VTV. “This contract aims to continue with the productive and development activities in this energy sector, framed within our Constitution and the Venezuelan laws that govern oil activity in the country,” said Venezuelan oil minister Tareck El Aissami, who was slapped with United States sanctions in 2017. He attended the signing ceremony along with representatives from Venezuelan state-owned oil and natural gas company PDVSA and Chevron. April 2023 will mark Chevron’s 100th anniversary in Venezuela, El Aissami said at the event. In 2017, OFAC said El Aissami had played a “significant role in international narcotics trafficking,” according to a news release.

SummarySummary Companies G10 central banks deliver 350 bps of rate hikes last monthEmerging central banks tightened policy by 400 bpsHiking cycle coming to an end in many developing economiesLONDON, Dec 2 (Reuters) - The pace and scale of rate hikes delivered by central banks in November picked up speed again as policy makers around the globe battle decade high inflation. Central banks overseeing six of the 10 most heavily traded currencies delivered 350 basis points (bps) of rate hikes between them last month. The European Central Bank, the Bank of Canada, the Swiss National Bank and the Bank of Japan did not hold rate setting meetings in November. The latest moves have brought total rate hikes in 2022 from G10 central banks to 2,400 bps. "Central banks' determination to bring down inflation suggests that policy rates need to go higher still."

☆ Cramer’s week ahead: Markets need a strong job market, tame inflation to stay up
▼ + stars: | 2022-12-02 | by ( Krystal Hur | ) www.cnbc.com time to read: +4 min

But if the job market stays strong and inflation stays tame, we could be in for still one more very good week," he said. Tuesday: AutoZone, Toll Brothers, SentinelOneAutoZoneQ1 2023 earnings release at 6:55 a.m. Wednesday: Campbell Soup, Ollie's Bargain Outlet Holdings, Brown-Forman, Lowe'sCampbell SoupQ1 2023 earnings release at 7:30 a.m. Brown-FormanQ2 2023 earnings release at 8 a.m. ETProjected EPS: $1.96Projected revenue: $1.81 billionCramer said he's betting Lululemon will beat Wall Street expectations in its latest quarter.

☆ Mark Cuban: Former FTX CEO Sam Bankman-Fried should be ‘afraid of going to jail’
▼ + stars: | 2022-12-01 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +4 min

Billionaire Mark Cuban isn't giving up on crypto, despite the implosion of FTX, one of the world's largest cryptocurrency exchanges. However, Cuban says former FTX CEO Sam Bankman-Fried should be "afraid of gong to jail for a long time," in an interview with TMZ. Alameda research, the trading firm founded by Bankman-Fried, was borrowing billions of dollars from FTX users' accounts and trading those funds without their knowledge, CNBC reports. FTX and Bankman-Fried did not immediately respond to CNBC Make It's requests for comment. Don't miss: FTX’s Sam Bankman-Fried lost billions and the company filed for bankruptcy—it could signal the ‘demise’ of crypto, expert says

☆ Pence Praises Musk for Buying Twitter
▼ + stars: | 2022-11-30 | by ( The New York Times | ) www.nytimes.com time to read: 1 min

1:10Apple’s App Store Dominance Is ‘Problematic,’ Zuckerberg SaysNOW PLAYINGPence Praises Musk for Buying Twitter0:58Zuckerberg Says Social Media Is Still the Primary Focus of Meta1:05Amazon Will Challenge Staten Island Union Election, C.E.O. Says1:21Ben Affleck Says His New Movie Studio Will Be ‘Radically Different’LIVEDealBook DC Summit1:45DealBook Conference: AT&T, Uber and President Cuban? 1:57Jack Dorsey on Trump’s Twitter Deactivation1:47‘I Have Never Offered to Sell CNN,’ AT&T C.E.O. Says1:21Mark Cuban: ‘I’m Considering’ Running for President1:43Uber C.E.O. : ‘The Culture Went Wrong’1:53

☆ Advance Australia Fair - Leckie seals upset win over Denmark
▼ + stars: | 2022-11-30 | by ( Manasi Pathak | ) www.reuters.com time to read: +3 min

Australia finished second with six points, level with group winners France after the world champions lost 1-0 to Tunisia. Denmark were bottom on one point with Tunisia third on four. They finally broke the deadlock at the hour mark as Leckie timed his run perfectly and sent the ball through Maehle's legs before beating Schmeichel. Australia defended strongly in the closing stages to secure consecutive victories at the World Cup for the first time. For Denmark, it was the end of a disappointing and frustrating campaign, in which they scored only one goal in three games.

☆ Recession may force Fed rate cut in 2023, sending Treasury yields lower -BofA
▼ + stars: | 2022-11-29 | by ( Davide Barbuscia | ) www.reuters.com time to read: +2 min

"The Fed is likely going to show signs of becoming successful in their attempt to rein in inflation by softening the labor market," he said. "That's probably also going to be allowing for volatility within rates and across markets to compress to some extent." The Fed has raised interest rates by 375 basis points so far this year as it attempts to bring down the highest inflation in decades. Cabana expects the central bank to increase rates three more times until reaching a terminal rate of 5.25% in March. Ten-year Treasury yields - a global benchmark for a swathe of other asset classes - are set to decline from 4% in the first quarter next year to 3.25% by year end, Cabana said.

In recent years, researchers have looked for supplements, in particular to data like JOLTS, to provide more nuance about job market dynamics. "When JOLTS came along it was stepping into a data void that it has done a good job of filling. An expanded JOLTS survey may get directly at that and other issues in the future, said Paul R. Calhoun Jr., who was involved with developing the survey in the 1990s and is its current manager. "You got all these job openings," Calhoun said. "We had the unemployment rate, so we knew how many people there are who are looking for work and don't have a job.

☆ Is this the last Christmas for Sears?
▼ + stars: | 2022-11-29 | by ( Chris Isidore | ) edition.cnn.com time to read: +13 min

Easterling was at the Sears in her hometown of Jersey City, New Jersey, one of only 15 full-line Sears stores still open. The two started a catalog business selling watches and jewelry in 1888, incorporating under the Sears Roebuck name in 1893. The Sears catalog was the way many Americans first started to buy mass-produced goods. File photo/AP People shop inside a Sears store in Morton Grove, Illinois, in 1961. AP Soldiers guard a Sears store in Baltimore after riots broke out following the assassination of Martin Luther King Jr. in 1968.

☆ Argentina and Lionel Messi face crunch game against Poland
▼ + stars: | 2022-11-29 | by ( Ben Morse | ) edition.cnn.com time to read: +5 min

Argentina was stunned by Saudi Arabia in its first game, before getting its campaign back on track with a 2-0 victory over Mexico in which Messi scored the opening goal. Argentina sits second on three points, a point behind Group C leader Poland, knowing a win in its final game against the Polish will assure its progression. Ariel Schalit/APNext up Argentina takes on Poland, and Robert Lewandowski, pictured celebrating scoring his team's second goal during the Group C match between Poland and Saudi Arabia. Andrej Isakovic/AFP/Getty ImagesArgentina faces a Poland team spearheaded by its own iconic striker, Robert Lewandowski, who scored his first World Cup goal last time out against Saudi Arabia. “We are still alive.”Mexico’s hopes are much slimmer, needing to beat Saudi Arabia by at least a three-goal margin, with Poland not losing to Argentina.

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