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☆ SAS slides 95% as Scandinavian airline's shareholders wiped out
▼ + stars: | 2023-10-04 | by ( Louise Rasmussen | ) www.reuters.com time to read: +2 min

COPENHAGEN, Oct 4 (Reuters) - SAS shares slumped by as much as 95% on Wednesday after the airline announced a financial restructuring on Tuesday to prevent bankruptcy, bringing on board big new investors and wiping out the stakes of its more than 250,000 owners. SAS (SAS.ST) said U.S. investment firm Castlelake and Air France-KLM (AIRF.PA) would become new major shareholders alongside the Danish state, and that the airline's stock will be delisted from the Stockholm, Copenhagen and Oslo exchanges. Scandinavian Airlines (SAS) flights are seen listed at Copenhagen Airport Kastrup in Copenhagen, Denmark, July 3, 2022. Shares in SAS, which have tumbled in recent years, traded down 83% at 1144 GMT to 0.05 Swedish crowns ($0.0045). "Management itself has come out to say there was a risk that the shares will become worthless.

Persons: Andrew Kelly, Lind, Jacob Pedersen, Pedersen, Louise Breusch Rasmussen, Anna Ringstrom, Terje Solsvik, Alexander Smith Organizations: SAS, Air France, KLM, France, Scandinavian Airlines, Copenhagen, REUTERS, Lind Invest, Thomson Locations: COPENHAGEN, United States, Danish, Stockholm, Copenhagen, Oslo, Amsterdam, Paris, Denmark

☆ This family bought a cheap house in Italy because the US is too expensive
▼ + stars: | 2023-10-04 | by ( Silvia Marchetti | ) edition.cnn.com time to read: +8 min

Cost of living impactChris and Jennifer Tidroski purchased a €26,000 home in a building in the village of Latronico, Italy after becoming frustrated with life in the US. The couple say that the cost of living in the US has become too high, especially when it comes to healthcare. Chris explains that the political polarization in the US has been a contributing factor in their decision to relocate to Italy. Although the costs were slightly more than they estimated, the Tidroskis say they couldn’t have afforded a similar house in the US. While his mother was Italian, Chris’ father was Polish-Lithuanian.

Persons: they’ve, Chris, Jennifer Tidroski, who’ve, Chris Tidroski, “, Lidia, ” Chris Tidroski, ”, Vincenzo Castellano, Mariangela Tortorella, expats, Jennifer, Chris Tidroski “, She’ll, They’ve, Chris Tidroski He’s, Castellano, Chris ’, he’d, don’t Organizations: CNN Locations: America, Italy, Prescott , Arizona, Latronico, Southern Italian, Basilicata, States, “, Arizona, Italian, Polish

Sam Bankman-Fried Trial appears at Federal Court in New York on Oct. 4th, 2023. Two years later, Julliard stood as the prosecution's first witness in the criminal fraud trial against FTX founder Sam Bankman-Fried, who's accused of misusing billions of dollars in client money. He and thousands of other FTX customers were practically wiped out when the exchange went belly up late last year. Allan Joseph Bankman, father of FTX Co-Founder Sam Bankman-Fried, and Barbara Fried, mother of FTX Co-Founder Sam Bankman-Fried, arrive at court in New York, US, on Wednesday, Oct. 4, 2023. WATCH: Sam Bankman-Fried criminal trial begins in New York

Persons: Sam Bankman, Claudia Johnson Marc, Antoine Julliard, Julliard, who's, FTX, Gisele Bündchen, Fried, Jane Rosenberg, Sam, Mark Cohen, Cohen, Attorney Thane, Rehn, Alameda's, Caroline Ellison, Allan Joseph Bankman, Barbara Fried, Stephanie Keith, Ellison's, Sam Trabucco, Trabucco, Rein, Adam Yedidia, Bankman, Yedida, hadn't, Gary Wang Organizations: Court, FTX, Federal Court, Reuters Defense, Alameda Research, Bankman, Assistant U.S, Attorney, Capitol, U.S, Bloomberg, Getty, MIT, Massachusetts Institute of Technology, Prosecutors Locations: New York, London, Manhattan, FTX, New York City, U.S, Alameda, Attorney Thane Rehn, Rehn

☆ Sam Bankman-Fried’s crypto empire was ‘built on lies,’ US prosecutor says
▼ + stars: | 2023-10-04 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —In their opening statements to a newly sworn-in jury in Manhattan federal court, lawyers laid out previews of their cases, offering two divergent narratives for the collapse of Sam Bankman-Fried’s crypto empire. The US government has charged Bankman-Fried with multiple counts of fraud and conspiracy, following the implosion of his crypto-trading platform, FTX, last year. But as his own lawyer, Mark Cohen, stepped up to speak, Bankman-Fried’s demeanor softened and his focus shifted to the jury box. “Sam didn’t defraud anyone,” he told jurors, arguing that his client acted in good faith throughout the rise and fall of his startups. Legal experts say Bankman-Fried’s lawyers have their work cut out for them.

Persons: Sam Bankman, Thane Rehn, ” Rehn, Fried, “, ”, Elizabeth Williams, Rehn, Mark Cohen, Cohen, Sam didn’t, Sam, ” Cohen, FTX’s, FTX, “ It’s Organizations: New, New York CNN, Prosecutors Locations: New York, Manhattan, Bahamas

☆ NTT Docomo forms capital tie-up with Monex to strengthen financial business
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Oct 4 (Reuters) - Japanese mobile operator NTT Docomo said it formed a capital tie-up with fintech firm Monex Group (8698.T) on Wednesday to build a new financial services business centred on managing its customers' assets. Monex's brokerage unit Monex Inc will form an intermediate holding company in which Docomo will take a 49% stake and make its consolidated subsidiary, Docomo said. Docomo will buy shares of the intermediate holding company from Monex Group for 46.56 billion yen ($312.00 million) and subscribe to a third-party allotment of shares worth 2 billion yen, Monex said. ($1 = 149.2300 yen)Reporting by Satoshi Sugiyama Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

Persons: Docomo, Monex, Satoshi Sugiyama, Chang, Ran Kim Organizations: NTT Docomo, Monex Group, Thomson Locations: TOKYO

☆ Sam Bankman-Fried's trial to resume with jury selection, opening statements
▼ + stars: | 2023-10-04 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +2 min

Indicted FTX founder Sam Bankman-Fried arrives at the United States Courthouse in New York City, U.S., July 26, 2023. REUTERS/Amr Alfiky/File Photo Acquire Licensing RightsNEW YORK, Oct 4 (Reuters) - Sam Bankman-Fried's trial on charges of stealing billions of dollars from customers of his now-bankrupt FTX cryptocurrency exchange is set to resume on Wednesday, with the judge aiming to finish selecting a jury and move on to opening statements. That would pave the way for prosecutors and the defense to proceed to opening statements, in which each side would lay out their case. Bankman-Fried has pleaded not guilty and is likely to argue that while he failed to adequately manage risk, he did not steal money. Reuters GraphicsReporting by Luc Cohen in New York Editing by Amy Stevens and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Fried, Amr Alfiky, FTX, District Judge Lewis Kaplan, Caroline Ellison, Nishad Singh, Gary Wang, Kaplan, Ellison, Luc Cohen, Amy Stevens, Matthew Lewis Organizations: United, REUTERS, District, Prosecutors, U.S, Alameda Research, Alameda, Metropolitan Detention, Thomson Locations: New York City, U.S, Manhattan, Brooklyn, New York

☆ Why Wall Street investors are freaking out
▼ + stars: | 2023-10-04 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Here’s why investors are freaking out:Rates and the Fed: A surge in corporate debt sales and rising bond yields have sent stocks lower. Moody’s, the only major credit rating firm to keep a perfect score for the United States, has warned that a government shutdown would be “credit negative” for the United States. Geopolitical risks are still elevated as Russia’s war on Ukraine continues and relations between the United States and China remain tense. October also marks the end of the fiscal year for many mutual funds in the United States. Statistical evidence doesn’t quite support the phenomenon, but the level of superstitious caution on Wall Street is real.

Persons: Kevin McCarthy, ”, Michael Reinking, Mark Twain, ” Sam Bankman, Sam Bankman, Allison Morrow, Judge Lewis Kaplan, “, ” Kaplan, SFB, SBF, Caroline Ellison, Bernie Madoff, Chris Isidore, Vanessa Yurkevich Organizations: CNN Business, Bell, New York CNN, Dow, Federal Reserve, Fed, Markets, Republicans, “, Prosecutors, GM, Ford, Motors, United Auto Workers, Michigan Assembly, Jeep, Dodge, Chrysler, UAW Locations: New York, America’s Congress, United States, Ukraine, China, Manhattan, Fairfax, Kansas City , Kansas, Toledo, Lockport, Michigan, Wayne , Michigan, Kokomo , Indiana

☆ There could be many more tie-ups between South Korean and Chinese battery materials companies: UBS
▼ + stars: | 2023-10-04 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere could be many more tie-ups between South Korean and Chinese battery materials companies: UBSTim Bush of UBS discusses South Korea's electric vehicle battery industry and the U.S. Inflation Reduction Act.

Persons: UBS Tim Bush Organizations: UBS, South, U.S

☆ Arsenal suffer double blow with Saka injured in loss to Lens
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +1 min

Oct 4 (Reuters) - Arsenal manager Mikel Arteta said he is worried about Bukayo Saka's availability for Sunday's league game against Manchester City after the forward went off injured in the first half of their 2-1 Champions League defeat by RC Lens. The 22-year-old also limped off the pitch in Arsenal's 4-0 league win at Bournemouth - which was his 87th consecutive Premier League appearance. Arteta has been criticised for not resting Saka often enough but the Spanish manager said all the players had been keen to play against Lens. "It was a big Champions League night," he added. But the Champions League is so difficult to win ... and today we take a big lesson as well."

Persons: Mikel Arteta, Fabio Vieira, Arteta, hasn't, Aadi Nair, Peter Rutherford Organizations: Arsenal, Manchester City, League, RC Lens, Bournemouth, Brentford, Tottenham Hotspur, League Cup, Lens, Thomson Locations: Spanish, Bengaluru

☆ The founder of Tesla's biggest China rival reportedly drank a glass of battery fluid to impress one of Warren Buffett's lieutenants
▼ + stars: | 2023-10-04 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Its founder, Wang Chuanfu, once drank battery fluid to impress big-name investors, the Wall Street Journal reported. AdvertisementAdvertisementThe founder of Chinese automaker BYD, Tesla's biggest global EV rival, once drank battery fluid in front of a big-name investor to show just how serious he was about his company, the Wall Street Journal reported Wednesday. David Sokol, a lieutenant of Warren Buffett's Berkshire Hathaway, noticed BYD's momentum and visited the company in Shenzhen as early as 2008, according to the Wall Street Journal. BYD saw some hiccups as other Chinese EV makers entered the market and Tesla shored up its Chinese operations. Aside from BYD's unique business achievements, its two head executives also have a noteworthy and fascinating dynamic, the Wall Street Journal reported.

Persons: Elon Musk, Wang Chuanfu, BYD, —, Stella Li, Tesla, David Sokol, Warren Buffett's Berkshire Hathaway, Sokol, Wang Organizations: Elon, Wall Street Journal, Service, EV, Wall Street, Sony, Wall, Motorola, Nokia, Toyota Corolla Locations: China, Shenzhen, Berkshire, BYD, Europe, Southeast Asia, Munich

ANTWERP, Belgium (AP) — Led by Simone Biles, the U.S. women won a record seventh consecutive team title at the gymnastics world championships on Wednesday night. The American team of Biles, Shilese Jones, Skye Blakely and Leanne Wong combined for a total of 167.729 points to edge Brazil and France. The U.S. women have won gold in the team event at every world championship that included a team competition since 2011. Biles now has 26 world championship medals, 20 of them gold, to go with her seven Olympic medals, including the 2016 Olympic title. Biles capped off a successful night for the U.S team with a spectacular floor routine rewarded by a 15.166.

Persons: Simone Biles, Shilese Jones, Skye Blakely, Leanne Wong, Biles, Larisa Latynina, Joscelyn Roberson, Wong, Jones, Cheng, Pike, ___ Organizations: American, The U.S, Soviet Union, China, U.S Locations: ANTWERP, Belgium, U.S, Brazil, France, The, Antwerp

REUTERS/Jane Rosenberg Acquire Licensing RightsCompanies Champion Trust Llc FollowNEW YORK, Oct 3 (Reuters) - Sam Bankman-Fried's father and brother, as well as Donald Trump's former spokesman Anthony Scaramucci, are among possible witnesses at the cryptocurrency exchange founder's fraud trial, according to a list read by a prosecutor in court on Tuesday. There is no guarantee that Scaramucci, Bankman-Fried's father Joseph Bankman or his brother Gabriel Bankman-Fried will testify during the trial, which is expected to last six weeks and kicked off on Tuesday with jury selection. Prosecutor Danielle Sassoon read the list of dozens of names - which included both proposed prosecution and defense witnesses - to see if any prospective jurors knew them. Scaramucci's alternative investment firm SkyBridge Capital once owned a stake in FTX, Bankman-Fried's cryptocurrency exchange which declared bankruptcy in November 2022 amid a flurry of customer withdrawals. The now-bankrupt fund is fully owned by Bankman-Fried and former FTX executive Gary Wang, court filings show.

Persons: Sam Bankman, Fried, Christian Everdell, Jane Rosenberg, Donald Trump's, Anthony Scaramucci, Joseph Bankman, Gabriel Bankman, Danielle Sassoon, District Judge Lewis Kaplan, Bankman, Kaplan, Gary Wang, Nicolas Roos, Caroline Ellison, Nishad Singh, Ellison, Jody Godoy, Luc Cohen, Amy Stevens, Lincoln, Nick Zieminski Organizations: Federal Court, REUTERS, SkyBridge, Alameda Research, District, Insight Partners, Bankman, Manhattan U.S, Thomson Locations: FTX, New York City, U.S, Alameda, Alameda ., New York

☆ Judge in Trump fraud trial imposes gag order after Trump lashes out at clerk
▼ + stars: | 2023-10-03 | by ( Jack Queen | ) www.reuters.com time to read: +4 min

NEW YORK (Reuters) -The judge overseeing Donald Trump’s civil fraud trial on Tuesday imposed a gag order - promising sanctions for any violations - after the former U.S. president used social media to lash out against the judge’s top law clerk. The trial could lead to the dismantling of Trump’s business empire as he seeks to regain the presidency in 2024. Engoron had ruled before the trial that Trump committed fraud, and canceled business certificates for companies that control crown jewels of Trump’s portfolio, including Trump Tower and 40 Wall Street in downtown Manhattan. The trial will review six additional claims including falsifying business records, insurance fraud and conspiracy, and address how much the defendants should pay in penalties. He also faces a January civil damages trial for defaming a writer who accused him of rape, which he denies.

Persons: Donald, Donald Trump, Letitia James, Shannon Stapleton, Arthur Engoron, Engoron, James, Trump, Chuck Schumer, ”, Joe Biden, Donald Bender, Kevin Wallace, James ’, Bender, Donald Jr, Eric, “, ” Trump, Trump’s, Christopher Kise, Michael Cohen Organizations: YORK, Former U.S, Trump Organization, REUTERS, Pool, Trump and New York, Republican, Democratic, Trump, Democrat Locations: Manhattan, New York City, U.S, New York

☆ NY attorney general presses case against Trump in trial's second day
▼ + stars: | 2023-10-03 | by ( Jack Queen | ) www.reuters.com time to read: +4 min

Former U.S. President Donald Trump attends the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James, at a Manhattan courthouse, in New York City, U.S., October 3, 2023. REUTERS/Shannon Stapleton/PoolThe trial, now in its second day, could lead to the dismantling of Trump’s business empire as he seeks to regain the presidency in 2024. Before testimony resumed, Trump renewed his attacks on James, telling reporters outside the courtroom that she was “grossly incompetent” and had concocted a bogus case. “Her numbers are fraudulent,” said Trump, the frontrunner for the Republican nomination to face Democratic President Joe Biden in the 2024 election. The trial’s second day began with the government’s first witness Donald Bender, Trump’s former accountant at Mazars USA, resuming his testimony.

Persons: Donald Trump, Letitia James, Shannon Stapleton, Trump, James, ”, Joe Biden, “, ” James, Donald Bender, Kevin Wallace, Bender, Donald Jr, Eric, Arthur Engoron, Wallace, Christopher Kise, Michael Cohen, James ’ Organizations: YORK, New York, Former U.S, Trump Organization, REUTERS, Republican, Democratic, USA, Trump Locations: New, Former, Manhattan, New York City, U.S, New York, “

☆ Trump hit with gag order after lashing out at court clerk in NY fraud case
▼ + stars: | 2023-10-03 | by ( Jack Queen | ) www.reuters.com time to read: +4 min

The trial could lead to the dismantling of Trump’s business empire as he seeks to regain the presidency in 2024. Trump referred to the clerk as “Schumer’s girlfriend.”“How disgraceful!” added Trump, the frontrunner for the Republican nomination to face Democratic President Joe Biden in the 2024 election. Engoron ruled before the trial that Trump committed fraud, and canceled business certificates for companies that control crown jewels of Trump’s portfolio, including Trump Tower and 40 Wall Street in downtown Manhattan. Earlier in the day, Trump renewed his attacks on James, telling reporters that the Democrat was “grossly incompetent” and had concocted a bogus case. He also faces a January civil damages trial for defaming a writer who accused him of rape, which he denies.

Persons: Donald, Trump, Arthur Engoron, Letitia James, ”, Engoron, James, Chuck Schumer, Joe Biden, Donald Jr, Eric, Donald Bender, Kevin Wallace, James ’, Bender, Jesus Suarez, “, ” Suarez, Michael Cohen, ” Trump Organizations: YORK, Trump and New York, Trump Organization, Republican, Democratic, Trump, TRUMP, Democrat Locations: New York, Manhattan

☆ Sam Bankman-Fried’s trial has started. Here’s what you need to know
▼ + stars: | 2023-10-03 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

New York CNN —The trial of Sam Bankman-Fried, a onetime crypto billionaire who stands accused of orchestrating a multibillion-dollar fraud, kicked off Tuesday in federal court in Manhattan. Here are the key things to know about the case, and what we might see over the next several weeks at the trial. Prosecutors opted in June to sever five other charges that were brought after Bankman-Fried’s extradition from the Bahamas, where FTX was based. Sam Bankman-Fried leaving the Bahamas on December 21, 2022, being extradited to the US to face charges. He was arrested in December in the Bahamas on charges including fraud and conspiracy and extradited to the United States in January.

Persons: Sam Bankman, Judge Lewis Kaplan, ”, “, ” Kaplan, SFB, SBF, Caroline Ellison, Bernie Madoff, FTX, Tom Brady, Larry David, Fried, Bankman, Ellison, Howard Fischer, Moses Singer, Fischer, Lewis Kaplan, he’s Organizations: New, New York CNN, Prosecutors, Alameda Research, Super, Royal Bahamas Police Force, Investors, Bankman, Coindesk, Alameda, New York Times, Securities and Exchange, Enron, Metropolitan Detention Locations: New York, Manhattan, FTX, Bahamas, Miami, Alameda, United States, Brooklyn

Companies Champion Trust Llc FollowNEW YORK, Oct 3 (Reuters) - Sam Bankman-Fried's fraud trial got under way with jury selection on Tuesday, nearly a year after his now-bankrupt cryptocurrency exchange's collapse shocked markets and tattered his reputation. He was dressed in a suit and tie, with his once signature curly, unkempt hair cut into a neater trim. Bankman-Fried's is the highest profile case U.S. prosecutors have so far brought against a former cryptocurrency executive. Prosecutors say Bankman-Fried built that reputation on lies and bolstered it with endorsements from celebrities and star athletes. He will be brought to court early on most days to allow him to prepare with his lawyers.

Persons: Sam Bankman, District Judge Lewis Kaplan, Kaplan, Bankman, Fried, Nicolas Roos, Mark Cohen, Caroline Ellison, Gary Wang, Nishad Singh, Ellison, Jody Godoy, Luc Cohen, Amy Stevens, Lincoln, Nick Zieminski Organizations: District, Alameda Research, Manhattan U.S, Prosecutors, Thomson Locations: Manhattan, FTX, Alameda, New York

☆ Temasek units put new spin on SPAC pass the parcel
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +2 min

SINGAPORE, Oct 3 (Reuters Breakingviews) - Convincing companies to list in Singapore, the tiny Asian financial hub, has long been a tall order. Hopes that special-purpose acquisition companies would be able to help looked ill-timed: three listed on the city-state’s exchange in January 2022, just as its stock market peaked and the appeal of blank-cheque firms was waning. The SPAC is sponsored by Vertex Venture Holdings, a venture-capital firm indirectly owned by Temasek. The SPAC maintains that Temasek is not involved in the business or operational decisions of any of these entities. Investment firms like Blackstone (BX.N)have offloaded portfolio companies to SPACs in the past – just not usually to ones they set up.

Persons: Antony Currie, Katrina Hamlin Organizations: Reuters, Technology, Corp, Vertex Venture Holdings, Temasek . Companies, Temasek, Blackstone, Vertex Technology, Singapore Exchange, X, Thomson Locations: SINGAPORE, Singapore, Taiwan, Japan

[1/5] U.S. President Joe Biden's son, Hunter Biden, walks to appear in a federal court on gun charges in Wilmington, Delaware, U.S., October 3, 2023. Biden wore a dark suit and tie during his appearance at the federal courthouse in Wilmington, Delaware, which lasted 25 minutes. Six men wearing earpieces who appeared to be Secret Service agents sat near Hunter Biden during the court proceedings and escorted him out of the courtroom through a side door. Burke said Hunter Biden submitted to tests for illegal drug use multiple times recently and had tested negative. Reporting by Tom Hals in Wilmington, Delaware; Editing by Andy Sullivan, Scott Malone and Alistair BellOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden's, Hunter Biden, Mike Segar, Biden, Christopher Burke, Abbe Lowell, earpieces, Burke, Hunter Biden's, Biden's, Donald Trump, Maryellen Noreika, Hunter, Trump, Joe Biden, Tom Hals, Andy Sullivan, Scott Malone, Alistair Bell Organizations: REUTERS, Rights, Secret, Republican, U.S, District, Supreme, Republicans, Thomson Locations: Wilmington , Delaware, U.S, Rights WILMINGTON , Delaware, Wilmington, Lowell, Ukraine, China

☆ Premarket stocks trading: ESG has lost its meaning. One advocate says let's throw it in the trash
▼ + stars: | 2023-10-03 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Dedicated ESG funds have also lost popularity with investors. Total assets under management in ESG funds fell by about $163.2 billion globally during the first quarter of 2023 from the year before, according to data provider Lipper. According to the latest Fed projections, officials forecast just one more interest rate hike this year — and rate cuts next year. When members of his board ask him whether interest rates could really go that high, his answer is always “yes,” he told Bloomberg. There are a lot of “potential bad outcomes,” Dimon said, but the worst-case economic scenario would be stagflation, with low growth and high interest rates.

Persons: “ ESG, ESG, What’s, Lipper, Lynn Forester de Rothschild, ESG “, ”, Rothschild, King Charles II, Bill Clinton, Archbishop of Canterbury Justin Welby, ’, Stephen Hall, Philip Morris, “, Robert Jenkins, Jenkins, Jamie Dimon, Dimon, It’s, ” Dimon, “ you’re, Satya Nadella, Brian Fung, Nadella, ” Nadella, else’s Organizations: CNN Business, Bell, New York CNN, Fox News, Republican, Biden, Council, Inclusive Capitalism, “ Investment, Better, CNN, Jamie Dimon JPMorgan, Federal, Bloomberg, Times, Microsoft, Google Locations: New York, Times of India, United States

☆ Canada to pick new House speaker after fiasco involving former Nazi soldier
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +2 min

[1/4] Canada's Prime Minister Justin Trudeau casts his vote during the election of a new Speaker in the House of Commons on Parliament Hill in Ottawa, Ontario, Canada October 3, 2023. Former speaker Anthony Rota, a member of the governing Liberal party, resigned last week. The members of the 338-seat House will then vote by secret ballot, ranking the candidates in order of preference. The House speaker is meant to be an impartial arbitrator of parliamentary procedure, seeking to maintain order and decorum during debates. Among the candidates are Liberal Greg Fergus, who if elected would be the first person of color to become speaker.

Persons: Justin Trudeau, Blair Gable, Volodymyr Zelenskiy, Anthony Rota, Yaroslav Hunka, Adolf Hitler's Waffen, Zelenskiy, Rota, Liberal Greg Fergus, Liberal Sean Casey, Prince Edward Island, Chris d'Entremont, Elizabeth May, Steve Scherer, Deepa Babington 私たち Organizations: Canada's, REUTERS, Rights OTTAWA, Liberal, Adolf Hitler's Waffen SS, Liberals, Green Party Locations: Ottawa , Ontario, Canada, Nazi, Polish, Ukrainian, Ukraine, Quebec's Gatineau Hills

Christopher Kise, a lawyer for Trump, countered in his opening statement that Trump's financials were entirely legal. SIX CLAIMSFormer U.S. President Donald Trump attends the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James, at a Manhattan courthouse, in New York City, October 2, 2023. Last week, the judge found Trump, his adult sons and 10 of his companies liable for fraud, describing in scathing terms how the defendants made up valuations. In his testimony, Bender said he relied on information provided by Trump and his companies when compiling Trump's personal financial statements. "The original numbers come from the Trump Organization, and any changes that would have been made at the end would have been approved by the Trump Organization," Bender said.

Persons: Trump, Donald Trump, Letitia James, Donald Jr, Eric, Donald Bender, James, Arthur Engoron, MONA LISA, Kevin Wallace, Christopher Kise, Kise, Alina Habba, Engoron, Mona Lisa, Brendan McDermid, Lago, Wallace, Michael Cohen, Bender, Habba, Cohen, Luc Cohen, Jack Queen, Doina Chiacu, Noeleen Walder, Nick Zieminski, Grant McCool Organizations: New, Trump, Trump Organization, Mazars USA, Republican, New York Democrats, SIX, U.S, REUTERS, Thomson Locations: New York, Manhattan, New, Lago, Florida, American, New York City, Washington, Georgia

Trump's election campaign used the start of the trial for fundraising, saying he was defending his family and reputation from New York Democrats it called "corrupt tyrants." Christopher Kise, a lawyer for Trump, countered in his opening statement that Trump's financials were entirely legal. Former U.S. President Donald Trump attends the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James, at a Manhattan courthouse, in New York City, October 2, 2023. Last week, the judge found Trump, his adult sons and 10 of his companies liable for fraud, describing in scathing terms how the defendants made up valuations. The trial will review six additional claims including falsifying business records, insurance fraud and conspiracy, and address how much in penalties the defendants should pay.

Persons: Trump, Donald Trump, Letitia James, Donald Jr, Eric, Donald Bender, James, Arthur Engoron, MONA LISA, Kevin Wallace, Christopher Kise, Kise, Alina Habba, Engoron, Mona Lisa, Brendan McDermid, Lago, Wallace, Michael Cohen, Bender, Cohen, Luc Cohen, Jack Queen, Doina Chiacu, Noeleen Walder, Nick Zieminski, Grant McCool Organizations: New, Trump, Trump Organization, Mazars USA, Republican, New York Democrats, Former U.S, REUTERS, SIX, Thomson Locations: New York, Manhattan, New, Lago, Florida, American, New York City, Washington, Georgia

Christopher Kise, a lawyer for Trump, countered in his opening statement that the financials for Trump and the Trump organization were entirely legal. "It is one of the most highly successful brands in the world, and he has made a fortune literally being right about real estate investments," Kise said. "It's got some of the greatest real estate assets in the world. That included Trump calculating the value of his apartment in Trump Tower as if it were three times its actual size. James accused Trump of "grossly" inflating the values of his assets, and inflated own net worth by as much as $2.2 billion.

Persons: Donald Trump, Kevin Wallace, Letitia James, Trump, Wallace, Christopher Kise, Kise, James, Donald Jr, Eric, It's, Brendan McDermid, Justice Arthur Engoron, Engoron, Michael Cohen, Jack Queen, Doina Chiacu, Noeleen Walder, Cynthia Osterman, Nick Zieminski Organizations: New, Trump, Trump Organization, Democrat, REUTERS, Republican, Thomson Locations: New York, Manhattan, American, New York City, Trump, Lago, Florida, Westchester County , New York, Washington, Georgia

☆ U.S. optimistic it will reach critical minerals deal with EU
▼ + stars: | 2023-10-02 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +2 min

REUTERS/Shelley Christians/File Photo Acquire Licensing RightsBRUSSELS, Oct 2 (Reuters) - The United States is optimistic it will conclude an agreement with the European Union to allow critical minerals mined or processed in Europe to qualify for U.S. clean vehicle tax breaks, a senior U.S. official said on Monday. The transatlantic partners are negotiating whether and how EU critical minerals, such as lithium and nickel, can qualify for green subsidies under the U.S. Inflation Reduction Act, which promotes products manufactured in North America. He added there was no plan to tie an agreement on critical minerals to the result of separate transatlantic negotiations to resolve a bilateral dispute over U.S. import tariffs on EU steel. The United States signed a minerals deal with Japan in March. Fernandez also said he was meeting EU officials to discuss an agenda for the next joint Trade and Technology Council, which the United States will host before the end of the year.

Persons: Jose W, Fernandez, Shelley Christians, Jose Fernandez, Philip Blenkinsop, Mark Potter Organizations: United, State, Economic Growth, Energy, Mining, REUTERS, Rights, European Union, U.S, State Department, Japan, EU, Trade, Technology Council, Thomson Locations: United States, Cape Town , South Africa, Rights BRUSSELS, Europe, U.S, North America, Brussels, Britain

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