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☆ Twitter alleges "unauthorized" data usage by Microsoft
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +2 min

May 18 (Reuters) - Twitter Inc has alleged that Microsoft Corp (MSFT.O) violated an agreement over using the social media company's data, according to a letter seen by Reuters on Thursday. Twitter owner Elon Musk's lawyer leveled accusations of "unauthorized" usage of Twitter's data by Microsoft, including sharing data with government agencies without permission in some cases. A Microsoft spokesperson said the company on Thursday heard from a law firm representing Twitter with some questions about its previous use of the free Twitter APIs. Twitter's accusations come at a time when Elon Musk is at odds with Microsoft over its artificial intelligence platform. Musk said in April he will launch AI platform "TruthGPT" to challenge the offerings from Microsoft and Google.

Twitter on Thursday sent a letter to Satya Nadella, Microsoft’s chief executive, accusing the tech giant of improperly using the social media company’s data. In the letter, which was reviewed by The New York Times, Twitter said Microsoft had violated an agreement over its data and had declined to pay for that usage. In some cases, the letter said, Microsoft had used more Twitter data than it was supposed to. Microsoft also shared the Twitter data with government agencies without permission, the letter said. The letter may be a prelude to Twitter trying to charge Microsoft for its data.

Twitter is accusing Microsoft of using the social media company's data in ways that were unauthorized and never disclosed. However, for one of the Microsoft services using Twitter data, "account information outright states that it intends to allow its customers to 'go around throttling limits,'" Spiro wrote. A Microsoft spokesperson acknowledged receipt of the letter and told CNBC the company will review it and "respond appropriately." "Today we heard from a law firm representing Twitter with some questions about our previous use of the free Twitter API," the spokesperson said in an email. Read the full letter from Twitter to Microsoft, here.

☆ Elon Musk told a Twitter advisor at 4 a.m. that the company would only pay rent over his 'dead body,' lawsuit says
▼ + stars: | 2023-05-18 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

It alleges Musk told an advisor at 4 a.m. that "he would only pay rent over his dead body." In a 4 a.m. conversation, Elon Musk allegedly told one of this his investors that the company would only pay rent on its offices "over his dead body," per a new lawsuit. Over the last few months, Twitter's landlords in London, New York, and San Francisco have all sued the company for failing to pay rent. Mendoza allegedly responded: "Elon told me he would only pay rent over his dead body." Musk told CNBC on Tuesday that he sleeps around six hours a night, and previously told the BBC he's "shot myself in the foot" by tweeting after 3 a.m.

☆ Elon Musk still needs a 'Twitter sitter' to review Tesla tweets, judges rule
▼ + stars: | 2023-05-16 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Elon Musk has lost an appeal to get rid of his "Twitter sitter" for tweets about Tesla. In 2018, Musk agreed that his Tesla-related tweets would be reviewed by other company executives. Elon Musk has lost an appeal against an SEC agreement that landed him with a "Twitter Sitter." To settle the suit, Musk and Tesla also each agreed to pay $20 million worth of fines and Musk agreed to step down as chair of Tesla's board. "To the contrary, the record indicates that the SEC has opened just three inquiries into Musk's tweets since 2018."

Musk's decree resolved an SEC lawsuit accusing him of defrauding investors with an Aug. 7, 2018, tweet that he had "funding secured" to take his electric car company private. Musk and Tesla each also paid $20 million in civil fines, and Musk gave up his role as chairman. But the three-judge appeals court panel said the SEC had opened just two subsequent inquiries into Musk's tweets, and those tweets "plausibly violated" the decree's terms. It also said Musk chose to allow screening of his tweets, and had no right to revisit the matter "because he has now changed his mind." The case is SEC v Musk, 2nd U.S.

Musk has litigated with the SEC for years over the consent decree, which was revised in 2019 after the SEC charged Musk with making "false and misleading" statements in his Aug. 2018 "funding secured" tweets. The agreement required "pre-approval" for tweets by Musk that contained information material to Tesla, and which extended to "certain senior executives," according to the judgment. A February letter from Musk attorney Alex Spiro said the terms of the consent decree, which was revised in 2019, amounted to "unconstitutional" infringement of his free speech rights. Far from being "bad-faith," the court wrote that "each tweet plausibly violated the terms of the consent decree." Musk was found "not liable" in a February securities fraud trial over his "funding secured" tweets.

April 20 (Reuters) - New Mexico prosecutors have decided to drop criminal charges against actor Alec Baldwin in the fatal shooting of cinematographer Halyna Hutchins on the set of the Western movie "Rust" in 2021, Baldwin's lawyers said on Thursday. Baldwin, 65, was charged in January with two counts of involuntary manslaughter in connection with Hutchins' death and the injury of "Rust" director Joel Souza, who was also shot. He pleaded not guilty in February after prosecutors downgraded the seriousness of the charges, reducing the potential prison time. Baldwin settled a lawsuit in October with the cinematographer's husband, Matt Hutchins, in a deal that made Hutchins an executive producer on the movie. Gutierrez-Reed has blamed the shooting on other factors including possible sabotage, Baldwin's lack of training and a failure by Halls and Baldwin to ask her for extra checks.

☆ Alec Baldwin: Prosecutors plan to dismiss charges against actor in 'Rust' shooting, Baldwin's attorney tells CNN
▼ + stars: | 2023-04-20 | by ( Chloe Melas | ) edition.cnn.com time to read: +3 min

CNN —Prosecutors in the “Rust” fatal shooting case plan to file a notice to dismiss involuntary manslaughter charges against Alec Baldwin, his attorney, Luke Nikas, tells CNN. CNN has contacted the special prosecutor in the Santa Fe, New Mexico case for comment. Baldwin and “Rust” armorer Hannah Gutierrez Reed were both charged with involuntary manslaughter in January. An attorney for Gutierrez Reed has previously said she will plead not guilty. Prosecutors already removed a firearm enhancement charge against Baldwin and Gutierrez Reed, reducing a potential prison sentence from 5 years to a maximum of 18 months.

Baldwin, who is also a producer on the film, was charged with two counts of manslaughter in the death of "Rust" cinematographer Halyna Hutchins. Though Baldwin's manslaughter case has been dropped, the actor still faces other legal woes as a result of the accidental shooting. In early February, Hutchins' parents and sister filed a lawsuit against Baldwin, "Rust" producers and other crew members, accusing them of negligence and intentional infliction of emotional distress, among other charges. Halls' hearing was the first to be conducted under the supervision of special prosecutors Kari Morrissey and Jason Lewis. In her place, she appointed Morrissey and Lewis as special prosecutors.

☆ Frank's founder just got hit with federal charges, but questions remain about JPMorgan's handling of the deal
▼ + stars: | 2023-04-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Drop any Wall Street (or non-Wall Street) questions you have for me here. A quick refresher: JPMorgan accused Javice of juicing Frank's customer numbers in a lawsuit filed at the end of last year. Prosecutors charged Javice with wire fraud affecting a financial institution, securities fraud, bank fraud, and conspiracy. I've joked about it before, but Taylor Swift really should teach a class on this stuff for Wall Street. It's not the president or Wall Street or Congress that's to blame.

Companies JPMorgan Chase & Co FollowNEW YORK, April 4 (Reuters) - The U.S. government on Tuesday filed criminal charges accusing Charlie Javice, the founder of the now-shuttered college financial planning company Frank, of defrauding JPMorgan Chase & Co (JPM.N) into buying the startup for $175 million in 2021. Prosecutors said that when JPMorgan asked for a list of names, Javice paid an unnamed data science professor $18,000 to concoct a sham list of names. JPMorgan shut down Frank in January, and Chief Executive Jamie Dimon branded the acquisition a "huge mistake" in a Jan. 13 conference call with analysts. In December, JPMorgan sued Javice and Olivier Amar, who was Frank's chief growth officer, in Delaware federal court. Javice filed counterclaims in February, accusing JPMorgan of having "compromised her reputation" and wrongfully withheld $28 million of retention payments and equity.

☆ Frank founder criminally charged with fraud over $175 million JPMorgan deal
▼ + stars: | 2023-04-04 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

The Justice Department on Tuesday charged Charlie Javice, founder of college financial planning platform Frank, with defrauding JPMorgan Chase of $175 million. The one-rising tech star – who was once named as one of Forbes' 30 Under 30 – was arrested Monday night in New Jersey and is expected in court Tuesday afternoon. They include one count of conspiracy to commit bank and wire fraud, one count of wire fraud affecting a financial institution, one count of bank fraud and one count of securities fraud. The Securities and Exchange Commission on Tuesday also sued Javice for fraud in connection with the alleged scheme. The charges come months after JPMorgan filed a lawsuit against Jarvice alleging she duped the bank into believing Frank had more than four million customers.

☆ Frank founder Charlie Javice, who allegedly defrauded JPMorgan out of $175 million, hit with federal charges
▼ + stars: | 2023-04-04 | by ( Katherine Long | Jack Newsham | ) www.businessinsider.com time to read: +4 min

Charlie Javice, who sold her student-aid startup Frank to JPMorgan Chase, was charged with fraud. The bank claimed Javice faked millions of customers to convince it to buy Frank for $175 million. Federal prosecutors in Manhattan charged Javice with wire fraud affecting a financial institution, securities fraud, bank fraud and conspiracy on Tuesday. JPMorgan acquired Frank in 2021 for $175 million, but began to question the authenticity of the startup's purported 4 million users after an email marketing campaign ended in "disaster," according to the bank's lawsuit and a filing by prosecutors. Out of 400,000 emails sent to Frank users, more than 70% bounced back and only 103 were opened, the bank claimed.

A judge agreed with that jury that Tesla was liable but said the award was excessive. He ordered a new trial on damages after Diaz declined the reduced $15 million award. But it could be cut even further because punitive damages are typically capped at no more than nine times the amount of damages for emotional distress and other injuries, Saba said. The punitive damages awarded by the jury on Monday were nearly 20 times the damages for emotional distress. The first jury in 2021 awarded Diaz $7 million in damages for emotional distress and a staggering $130 million in punitive damages.

He opted for a new trial on damages after a judge agreed with that jury that Tesla was liable but significantly reduced the award to $15 million. Tesla and lawyers for Diaz did not immediately respond to requests for comment on the verdict. The first jury in 2021 awarded Diaz $7 million in damages for emotional distress and a staggering $130 million in punitive damages. On Friday, Orrick denied a motion by Diaz's lawyers for a mistrial. Orrick said those questions were related to other incidents discussed in the first trial, and that Diaz's lawyers had not shown that the questioning prejudiced the jury.

☆ Jury orders Tesla to pay more than $3 million to Black ex-worker who endured racist abuse
▼ + stars: | 2023-04-03 | by ( Lora Kolodny | ) www.cnbc.com time to read: +4 min

Diaz, a Black man, was hired as a contract worker at Tesla in 2015 through a staffing agency. Diaz and Tesla sought a retrial to decide damages after Judge William H. Orrick reduced the amount to $15 million. "No Black man in 2015 should ever be subjected," Alexander said, "to this plantation mentality workplace." The plaintiffs asked the jury to consider punitive damages around $150 million for Tesla, and to award Diaz $6.3 million in past non-economic damages, and $2 million in future non-economic damages. As CNBC has previously reported, where it is legal to do so, Tesla has compelled employees to agree to mandatory arbitration.

“It made me feel less than a man (and) it made me question my worth,” Diaz said. Diaz rejected the lower payout and opted for a new trial on damages before a different jury. Tesla has maintained that it does not tolerate workplace harassment and takes discrimination complaints seriously. The lawyer testified that while Tesla had adopted adequate anti-bias policies, the company failed to properly investigate and respond to complaints from Diaz and other Black workers. Reporting by Daniel Wiessner in Albany, New York Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ The second day of Tesla's racial bias trial included testimony from a former worker who said he found feces on a factory cart
▼ + stars: | 2023-03-29 | by ( Grace Kay | ) www.businessinsider.com time to read: +6 min

It was part of a retrial for an ex-contractor who filed a racial discrimination lawsuit against Tesla. Wheeler was one of a handful of former Tesla workers that testified on Tuesday regarding their experience as Black workers at Tesla's Fremont factory. Wheeler said that the incident occurred one evening during his night shift at the factory after he took a 30-minute break. Wheeler had testified about the alleged incident in the initial trial in 2021. His complaints echo similar lawsuits from other Tesla factory workers.

The five-day trial on damages, in federal court in San Francisco, comes after a jury in 2021 found Tesla liable for discrimination and ordered the company to pay Diaz $137 million. Diaz rejected the lower payout and opted for a new trial on damages before a different jury. Tesla has maintained that it does not tolerate workplace harassment and takes discrimination complaints seriously. The lawyer testified that while Tesla had adopted adequate anti-bias policies, the company failed to properly investigate and respond to complaints from Diaz and other Black workers. Reporting by Daniel Wiessner in Albany, New York Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Diaz's lawyers rejected the lower payout and opted for a new trial on damages. Alex Spiro, a lawyer for Tesla, told the jury that any racist conduct at the plant was indefensible. As at the last trial, Diaz and several employees and managers at the Fremont plant are expected to testify. U.S. District Judge William Orrick last year reduced the compensatory damages to $1.5 million and the punitive damages to $13.5 million. The U.S. Supreme Court has said punitive damages typically should be no more than 10 times compensatory damages.

☆ Citigroup's top ideas from here for the next 12 months
▼ + stars: | 2023-03-16 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Citi refreshed its highest conviction ideas for the next 12 months, as the market enters a new period of volatility. Citi highlighted several equity strategies for the coming months, adding four new buy names to its focus list: Targa Resources , Bruker , Criteo , and Comerica . The natural gas company's shares are down 6.9% year-to-date, but have gained 4.2% during the past 12 months. The stock is up about 7% in 2023 and more than 10% during the past 12 months. But the stock is still down more than 28% year to date, given the recent declines in regional bank stocks.

☆ Read the email billionaire Ron Baron sent Elon Musk telling him to stop tweeting when angry: 'Get an ice cream cone. Just don't use Twitter'
▼ + stars: | 2023-03-10 | by ( Grace Kay | Sindhu Sundar | ) www.businessinsider.com time to read: +4 min

Tesla investor Ron Baron once emailed Elon Musk and told him to stop tweeting when upset. Baron told CNBC that Musk has made him "$5 billion so far, on a $400 million investment." In his 2018 email, Baron told Musk to turn the other cheek. When an attorney for the plaintiffs showed him the email, Musk offered his own take on Baron's message to him. "He's not saying don't use Twitter, he's saying I shouldn't respond to criticism in the news on Twitter," Musk said on the stand at the time.

☆ Prosecutors deny claim by Alec Baldwin's lawyers that authorities destroyed gun in 'Rust' movie set shooting
▼ + stars: | 2023-03-09 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

New Mexico prosecutors denied the claim that Alec Baldwin's lawyers made on Thursday that state authorities had destroyed the firearm that killed cinematographer Halyna Hutchins on the set of the movie "Rust." Prosecutors didn't respond to Spiro's assertion during the hearing, but in a statement to CNBC said that Spiro's claim is false. "The gun Alec Baldwin used in the shooting that killed Halyna Hutchins has not been destroyed by the state. Baldwin, star and producer of "Rust," was holding the gun when it killed Hutchins. The defendants are charged with two different types of involuntary manslaughter following the October 2021 fatal shooting of cinematographer Halyna Hutchins.

☆ How to 'layoff-proof' your job, from 6 top recruiters at Netflix, McKinsey, Walmart, and more
▼ + stars: | 2023-02-28 | by ( Aj Eckstein | ) www.businessinsider.com time to read: +6 min

AJ Eckstein hosts a podcast interviewing recruiters from major tech, retail, and finance companies. Recruiters from PwC, Walmart, Lockheed Martin, Netflix, and more share how to safeguard your job. I'm a podcast host and job-search expert who interviews leading recruiters at some of the world's largest companies including Netflix, McKinsey & Company, Accenture, and Walmart. I've interviewed more than 30 recruiters in order to pull back the curtain on the recruitment process and help job seekers. "In a constantly shifting job market, employees shouldn't be stagnant either," he said.

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