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☆ How investors should play Wells Fargo stock after newly announced regulatory action
▼ + stars: | 2024-09-13 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

"This is the bank stock to buy, if you want to buy a bank stock," Jim offered, arguing that the regulatory snag shouldn't be a huge surprise to the market either. The agency said in a statement that Wells Fargo has already started to take corrective steps to remedy these issues. During Thursday's September Monthly Meeting, he said he would consider Wells Fargo as an honorary 13 core portfolio holding . Investors appear to have brushed off worries as well, with Wells Fargo stock up more than 1% on Friday. A person walks past the entrance to a Wells Fargo bank branch on Amsterdam Avenue on June 25, 2024, in New York City.

Persons: Wells, Jim Cramer, haven't, Jim, Wells Fargo, they're, We're, Charlie Scharf, Raymond James, Jim Cramer's, Gary Hershorn Organizations: Currency, OCC, Federal Reserve, Wall, RBC Capital Markets, CNBC, Corbis, Getty Locations: Wells Fargo, Wells, Amsterdam, New York City

☆ Boar’s Head to close Virginia plant linked to deadly listeria outbreak
▼ + stars: | 2024-09-13 | by ( Jamie Gumbrecht | ) edition.cnn.com time to read: +3 min

CNN —Boar’s Head will close the Virginia plant that produced deli meat products tied to a deadly listeria outbreak, the company said on Friday. The move is part of several changes made after what it called a “dark moment in our company’s history.” Boar’s Head said it will permanently discontinue sales of liverwurst after an investigation found its production process was the root cause of the listeria contamination. It will also appoint a new food safety officer and food safety council made up of independent industry experts. But a USDA Notice of Suspension for the Virginia facility, shared by Boar’s Head, describes “inadequate controls” that allowed equipment and employees to move throughout the facility, potentially spreading bacteria. The agency called it the largest listeria outbreak since one linked to cantaloupe in 2011.

Persons: CNN — Boar’s, ” Boar’s, Boar’s, Dr, Sanjay Gupta, “, what’s Organizations: CNN, Department of Agriculture’s, CNN Health, Centers for Disease Control, listeria, CDC Locations: Virginia, Jarratt , Virginia, Jarratt

☆ Should your company pay cybercriminals after a ransomware attack? It depends.
▼ + stars: | 2024-09-13 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +7 min

Minder said some companies face going out of business if they don't pay the ransom. He said organizations might also pay when cybercriminals take sensitive or proprietary information, such as personally identifiable information, and threaten to release it. Both paying and not paying can be riskyLance said that whether to pay ransom is ultimately up to individual companies. The FBI warns against paying ransom to attackers, as there's no guarantee you'll get your data back. Seeking help is crucialLance said that if you encounter ransomware, "don't try to go at it alone without any experience."

Persons: —, Mark Lance, Kurtis Minder, Minder, Lance Organizations: FBI, Service, Google, MGM, Boeing, CDK Global, Caesars, GuidePoint, ransomware, IBM, US Securities and Exchange, cybercriminals Locations: Florida, North Carolina

☆ Americans lost a record $5.6 billion to crypto scams last year, says FBI—this is the No. 1 kind to watch out for
▼ + stars: | 2024-09-13 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

Financial losses "involving the use of cryptocurrency, such as bitcoin, ether or tether" last year totaled over $5.6 billion, per the agency's 2023 Cryptocurrency Fraud Report . Americans lost billions to cryptocurrency scams in 2023, according to a recent report from the United States Federal Bureau of Investigation. However, investment scams swindled Americans out of $4 billion, the highest loss by crypto crime type last year, per the FBI's report. They'll sometimes communicate with victims for months in order to gain their trust before offering so-called investment advice about cryptocurrency. And even after paying the fees, many victims aren't able to recover the bulk of what they've already lost, per the FBI's report.

Persons: fraudsters, they're, they've Organizations: FBI, United States Federal Bureau of Investigation

☆ West Bank: UNRWA staffer among ten killed during Israel military operation
▼ + stars: | 2024-09-13 | by ( Mohammed Tawfeeq | ) edition.cnn.com time to read: +4 min

CNN - A United Nations staff member was among 10 people killed during an Israeli military operation in the occupied West Bank, the Israeli military and the UN said on Friday. Jawwad – the first UNRWA staffer to be killed in the West Bank in more than 10 years – is survived by his wife and five children, according to UNRWA. The other people killed in the Israeli operation over the past 48 hours were killed in the areas of Tulkarem, Nur Shams and Tubas, according to the IDF. Al-Quds Brigades, the military wing of Islamic Jihad, said the five killed in Tubas were members of the Tubas Battalion in the West Bank who were “preparing ambushes and explosive devices against” Israeli forces. Operations in the West BankThe death comes amid increasing Israeli military action in the West Bank.

Persons: Sufyan Jaber Abed Jawwad, “, Jawwad, ” Juliette Touma, Nadav Shoshani, ” Shoshani, –, Philippe Lazzarini, Jawwad’s, Nur Shams, Tubas, Nur, UNWRA, Antony Blinken, Aysenur Ezgi, Eygi, CNN’s Mounira Elsamra Organizations: CNN, United Nations, West Bank, UN, United Nations Agency for Palestinian Refugees, Israel Defense Forces, UNRWA, Jordan’s Ministry of Foreign Affairs, IDF, Quds Brigades, Tubas Battalion, Operations, Palestinian Ministry of Health Locations: El Far’a, Gaza, Israel, Tulkarem, Al, Quds, El, Nur Shams, Jenin, Ramallah

☆ Southwest and Alaska Airlines planes nearly collide on Nashville airport runway, spurring FAA investigation
▼ + stars: | 2024-09-13 | by ( Pete Muntean | ) edition.cnn.com time to read: +3 min

The crew of Alaska Airlines flight 369 “discontinued their takeoff” at Nashville International Airport around 9:15 a.m. CT when Southwest Airlines flight 2029 “was cleared to cross the end of the same runway,” according to the FAA. The Alaska Airlines flight carrying 176 passengers and six crew members braked so suddenly that the crew “reported blown tires during the braking,” the FAA said. “The Alaska aircraft, on its way to Seattle, had received clearance for takeoff from Air Traffic Control,” Alaska Airlines said in a statement. The incident in Nashville also comes just two days after two Delta Air Lines planes collided as both were taxiing for takeoff from Atlanta’s busy Hartsfield-Jackson International Airport. The wheels of a plane are seen after a near-collision involving a Southwest Airlines flight and an Alaska Airlines flight at Nashville International Airport Thursday morning.

Persons: “, braked, “ We’re, John F, Kyle Forrester Organizations: CNN, Federal Aviation Administration, National Transportation Safety, Alaska Airlines, Nashville International Airport, Southwest Airlines, FAA, Alaska, Air Traffic Control, NTSB, Employees, Boeing, Delta Air Lines, Hartsfield, Jackson International, New, Syracuse Hancock International, Kennedy International Airport, Nashville, FedEx, Investigators Locations: Nashville, “, Seattle, Syracuse, JFK, Austin , Texas

Aid workers reached more than 90% of targeted vaccine coverage in the first phase of the UN-led campaign, according to the UN’s agency for Palestine refugees, UNRWA. Israel’s offensive in Gaza, launched after the Hamas-led October 7 attacks, has precipitated a humanitarian crisis and flattened critical infrastructure. Meanwhile, Israeli aid restrictions have severely depleted fuel stocks, chlorine and spare parts, stifling water production, purification and sewage pumping, according to the agency. Then in August, an 11-month old boy became the first person in Gaza in 25 years to be diagnosed with polio. Relief workers described repeated challenges to the campaign rollout – especially in northern Gaza – citing Israeli evacuation orders, roads damaged by bombardment, increased hostilities and scant fuel supplies.

Persons: “, Tedros Adhanom Ghebreyesus, ”, ” Mahmoud Shalabi, ” Shalabi Organizations: CNN, World Health Organization, WHO, UN, UNRWA, Humanitarian Affairs, United, WHO . Relief, Aid, MAP Locations: Gaza, Palestine, United Nations, Israel

☆ Trooper suspended over Karen Read investigation won't testify in another high-profile murder case
▼ + stars: | 2024-09-12 | by ( Tim Stelloh | Gemma Dicasimirro | Tim Stelloh Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +3 min

Michael Proctor, the Massachusetts state trooper suspended over his conduct while he was investigating Karen Read, will not testify in another high-profile case on which he was a lead investigator, prosecutors said. The department devoted dozens of additional officers to investigating the case, the filing says. The filing cites Proctor’s testimony in the Read case, in which he testified that he made derogatory comments about Read to his family, friends and supervisors, and it says the prosecutor’s office is reviewing data extracted from the trooper’s cellphone. The agency had opened an internal affairs investigation into allegations of "serious misconduct" raised at trial, a state police official said at the time. He pleaded guilty to wire fraud, interstate transportation for a scheme to defraud and unlawful monetary transaction, the prosecutor's office said.

Persons: Michael Proctor, Karen Read, Proctor, Brian Walshe, fraudster, Ana Walshe, Read, Read’s, Andy Warhol Organizations: Attorney’s, Prosecutors, Massachusetts State Police, Attorney's Office, New, U.S Locations: Massachusetts, Norfolk County, Boston

The Summary Boeing officials have made few public comments about the company's Starliner spacecraft over the last six weeks. Just over an hour after Boeing’s Starliner capsule made its uncrewed return to Earth, NASA convened a standard post-landing briefing to discuss the end of the tumultuous test flight. The capsule’s first crewed test flight, the mission was expected to last around eight days. The pair is scheduled to stay at the space station until February then return with members of an upcoming ISS crew. In 2019, an uncrewed test flight to the space station was cut short because of technical glitches and the company was forced to repeat it in 2022.

Persons: Eric Berger, Joel Montalbano, ”, Mark Nappi, “, NASA’s, Starliner, Butch Wilmore, Suni Williams, Wilmore, Williams, Boeing’s Organizations: Boeing, NASA, Space Center, Ars Technica, NBC, NASA’s Kennedy Space Center, International Space Station, Agency, SpaceX, ISS, Crew Locations: Houston, Florida

☆ Ripple's XRP jumps as much as 9% as Grayscale introduces XRP trust that could pave way for an ETF
▼ + stars: | 2024-09-12 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The price of Ripple's XRP token jumped Thursday after Grayscale announced the launch of a new trust that gives accredited investors direct exposure to the cryptocurrency. XRP was last higher by more than 3% at 56 cents a coin, according to Coin Metrics. XRP is the native token of Ripple's XRP Ledger, whose main purpose is to facilitate cross-border financial transactions. Grayscale made history shortly after when a court ruled that the SEC was wrong to deny crypto investment giant permission to convert its popular bitcoin trust into an ETF. The Grayscale Bitcoin Trust and the Grayscale Ethereum Trust began trading in January and July of this year, respectively, as ETFs.

Persons: XRP, Rayhaneh Sharif, Analisa Torres, cryptocurrencies, Bitcoin, MicroStrategy, —, Jesse Pound Organizations: Metrics, Securities and Exchange Commission, District, SEC Locations: London, England, Bitcoin, U.S

☆ High lead levels found in cinnamon and spice blends from 12 brands, report finds
▼ + stars: | 2024-09-12 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +9 min

The next highest level was found in cinnamon powder from EGN (2.91 ppm), followed by Mimi’s Products ground cinnamon (2.03 ppm), ShopRite Bowl & Basket ground cinnamon (1.82 ppm), Rani Brand ground cinnamon (1.39 ppm), Zara Foods cinnamon powder (1.27 ppm), Three Rivers cinnamon stick powder (1.26 ppm), Yu Yee Brand five spice powder (1.25 ppm), BaiLiFeng five spice powder (1.15 ppm), Spicy King five spices powder (1.05 ppm), Badia cinnamon powder (1.03 ppm) and Deep cinnamon powder (1.02 ppm). told CNN via email that the company’s ground cinnamon products comply with all federal and international law. These include ground cinnamon and organic ground cinnamon sold by 365 Whole Foods Market, which contained 0.12 ppm and 0.02 ppm of lead, respectively. Morton & Bassett San Francisco 100% organic ground cinnamon, Loisa organic cinnamon and Sadaf cinnamon powder tested at 0.04 ppm of lead. The latest, published in August, listed 10 different cinnamon products with levels as high as 3.93 ppm of lead.

Persons: Paras, Rani, Yu Yee, EGN, Mimi’s, Nuria Lambert, Karen O’Shea, Alina Lasta, ” Guitar, Bassett, James Rogers, ” Rogers, Rogers, ”, Dr.Pieter Cohen, Cohen, we’re, ” Cohen, Courtney Rhodes, Rhodes Organizations: CNN, Consumer Reports, Mimi’s, ShopRite, Consumer, Mimi’s Products, Wakefern Food Corp, Badia Spices, FDA, American Spice Trade Association, World Health Organization, Food and Agriculture Organization, United, New York State Department of Health, US Environmental Protection Agency, WHO, Morton, Bassett San, WanaBana, Weis, Food and Drug Administration, Cambridge Health Alliance, Biden, Food Locations: Zara, Badia, United Nations, New York, Connecticut , New Jersey, Bassett San Francisco, Ecuador, Schnucks, Somerville , Massachusetts

☆ Federal judge allows prediction market Kalshi to offer betting on upcoming US elections
▼ + stars: | 2024-09-12 | by ( Piper Hudspethblackburn | Piper Hudspeth Blackburn | ) edition.cnn.com time to read: +3 min

CNN —A federal judge made way on Thursday for legal political gambling in the United States, rejecting a federal watchdog’s last-minute effort to delay a prediction market from offering bets on the November elections. She also denied a request by the government during Thursday’s hearing to block Kalshi from offering contracts pending its appeal. The CFTC has argued that the contracts count as illegal gambling and that it doesn’t have the resources to monitor them. Its chairman, Rostin Behnam, has also warned that election contracts would “ultimately commoditize and degrade the integrity” the electoral process. Luana Lopes Lara, a co-founder of Kalshi, celebrated the decision on Thursday, writing on X, “WE’RE LIVE.” The CFTC declined to comment.

Persons: Jia Cobb, “, ” Cobb, Kalshi, Rostin Behnam, Luana Lopes Lara, ” Organizations: CNN, Senate, Futures Trading Commission, DC, Kalshi, CFTC Locations: United States, Washington ,, Kalshi, New York

☆ Digital health company Noom to offer compounded GLP-1 drug through new weight loss program
▼ + stars: | 2024-09-12 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +5 min

Digital health company Noom on Thursday announced it will offer a compounded GLP-1 drug as part of a new weight loss product that starts at $149. Noom has offered weight loss programs for years, and consumers can already try to access those branded medications through its platform. Compounded GLP-1 medications are typically much cheaper than their branded counterparts. Most insurance plans cover GLP-1s when they are used to treat diabetes, but coverage of the weight loss drugs is less widespread. Consumers can get started with the Noom GLP-1 RX program by filling out an intake form on the website.

Persons: Wegovy, Noom, Geoff Cook, Cook, Dr, Adonis Saremi, They'll Organizations: CNBC, U.S . Food, Drug Administration, FDA Locations: U.S, United States

☆ Student-loan borrowers are getting $100 million in payments after being 'cheated' out of lower bills by a major lender, a federal consumer watchdog says
▼ + stars: | 2024-09-12 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

Read previewA yearslong legal battle with a major student-loan company has finally come to an end, and borrowers are getting their money back. The settlement permanently bans Navient from servicing federal loans and prohibits the servicer from managing most loans within the Federal Family Education Loan program. It also requires Navient to pay a $20 million penalty to the CFPB, along with $100 million to impacted borrowers. Last year, for example, Navient agreed to a $198 million settlement with private student-loan borrowers who claimed the lender was collecting debts that should have been discharged in bankruptcy. Along with Navient, the CFPB recently filed a lawsuit against student-loan company PHEAA, accusing it of illegally collecting payments from borrowers who were discharged in bankruptcy.

Persons: —, servicer, Rohit Chopra, Eric Halperin, Navient Organizations: Service, Consumer Financial, Bureau, Business, Family Education, Democratic, PHEAA

Election officials from across the country publicly accused the U.S. Postmaster General on Wednesday of failing to adequately prepare for the Nov. 5 general election. Postal Service that election officials have said could lead to fewer people voting and a loss of trust in the electoral system. “We implore you to take immediate and tangible corrective action to address the ongoing performance issues with USPS election mail service. The letter Wednesday said that election officials had repeatedly raised concerns with the USPS but had not seen adequate improvement. The election officials’ letter cited three specific concerns.

Persons: General Louis DeJoy, “ Organizations: National Association of, State, National Association of State, U.S . Postal Service, USPS, Political Mail, Customer Relations Locations: “ State, Minnesota

☆ This government-backed startup is growing blood to help fight shortages
▼ + stars: | 2024-09-11 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Last month, the American Red Cross declared an emergency blood shortage after its national supply fell by more than 25% in July. Shortages can be dire for patients since doctors have to make tough decisions about who needs blood transfusions the most. McConnell is CEO of a four-year-old startup called Safi Biotherapeutics, which is working to manufacture inexpensive red blood cells at scale. Scientists have already discovered how to grow red blood cells from stem cells, but it's a costly and complex process that typically yields small amounts at a time. Safi's goal is to build on these advancements and produce large quantities of blood that could eventually be used commercially to help care for patients and avoid blood shortages.

Persons: Doug McConnell, McConnell, Safi Organizations: Red Cross, Cross, U.S, Safi, CNBC, U.S . Department of Defense, J2 Ventures, U.S . Food, Drug Administration, FDA Locations: U.S

The collection's existence on your credit report can severely lower your credit score and impact future loans. Here's what you need to know about the impact of collections and how to get them removed from your credit report. As it ages on your credit report, its effect on your credit score will decrease until it falls off entirely. How can you remove collections from a credit report? There are a few different — and completely legal — ways you can try to remove it from your credit report to fix your credit score.

Persons: it's, there's, you've, Markia Brown, John Owens, Brown, Owens, Rick Eicheldinger, Zarrad, Eicheldinger, Jennifer, Read Organizations: Monterey Financial Services, Business, Yahoo, Finance, CBS, MSNBC, CNBC, Forbes, Black Enterprise, USA, The Johns Hopkins University Carey School of Business, Business Journalists Locations: America, TheGrio, New York City

☆ The next big market for weight-loss drugs: children
▼ + stars: | 2024-09-11 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Novo Nordisk's American rival, Eli Lilly, has also been testing obesity-beating drugs for children as young as six. Wegovy and similar drugs for weight loss have become a huge business. The drugs' success has made Novo Nordisk the most valuable company in Europe. AdvertisementChildhood obesityAn FDA approval on weight loss drugs for children could open up a new market for Novo Nordisk. In June, US Sen. Bernie Sanders announced that Novo Nordisk CEO Lars Jørgensen would testify before the committee on September 24 at a hearing focusing on the prices that Novo Nordisk charges Americans for their drugs, Ozempic and Wegovy.

Persons: —, Saxenda, Novo, Claudia Fox, Eli Lilly, Goldman Sachs, Wegovy, Sen, Bernie Sanders, Lars Jørgensen, Sanders Organizations: Service, BMI, Business, FDA, Financial Times, Novo Nordisk, Centers for Disease Locations: Madrid, Europe

The Food and Drug Administration announced Tuesday that it has begun a research project examining the possible effects of toxic metals in tampons and that it is launching an independent review. A study published in July found a variety of metals, including arsenic, mercury and lead, in more than a dozen brands of tampons. While the study detected metals, it couldn’t conclude whether their existence led to any harm in the women. “Women use about 7,400 tampons over the course of their reproductive years, so the presence of potentially harmful metals and chemicals in these products is incredibly concerning,” caucus members wrote. “These initiatives will enable the FDA to complete a risk assessment of metals contained in tampons, based on a worst-case scenario of metal exposure,” the agency wrote.

Persons: Kathrin Schilling, “ Organizations: Drug Administration, Columbia University Mailman School of Public Health, UC Berkeley School of Public Health, Democratic Women’s Caucus, FDA Locations: tampons, U.S

A Delta aircraft clipped the tail of another plane Tuesday morning at an Atlanta airport. Video taken at the airport appears to show the Endeavor plane with its tail hanging off the side of the aircraft. There are no reports of injuries and maintenance crews are evaluating for damage, Delta Air Lines said. The Delta flight was headed to Tokyo and the Endeavor Air flight to Lafayette, Louisiana. A damaged Endeavor Air plane on the tarmac at Hartsfield-Jackson Atlanta International Airport after a collision Tuesday.

Persons: Delta, Ronald Reagan, Nathan Pike Organizations: Delta, Hartsfield, Jackson Atlanta International, Endeavor Air, Federal Aviation Administration, Endeavor, Delta Air Lines, Ronald Reagan Washington National Airport, JetBlue, Southwest Airlines, NBC News, American Airlines, FAA Locations: Atlanta, Tokyo, Lafayette , Louisiana, Ronald Reagan Washington

☆ Heavy metals found in tampons prompt FDA investigation
▼ + stars: | 2024-09-10 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +6 min

CNN —The US Food and Drug Administration announced Tuesday that it will examine the potential harm to women of heavy metals such as lead and arsenic found in tampons. The FDA’s action follows the July publication of a small pilot study that found arsenic and lead in organic and nonorganic tampons. The July study discovered only the presence of the metals and “did not test whether metals are released from tampons when used,” the FDA said in a statement Tuesday. “However, there is no reason for people to be afraid to use menstrual products at this time,” Pollack added. That advice also applies to anyone concerned about heavy metals or chemicals in their menstrual products, experts say.

Persons: “, Kathrin Schilling, ” Schilling, nonorganic tampons, hasn’t, ”, Anna Pollack, Pollack, ” Pollack Organizations: CNN, Food and Drug Administration, US Environmental Protection Agency, FDA, Consumer Healthcare, Association, Columbia University’s Mailman, of Public Health, American Chemistry Council, “, for Disease Control, Prevention, George Mason University Locations: tampons, U.S, United States, United Kingdom, Greece, New York City, Fairfax , Virginia

☆ How Trump vs. Harris is playing out on Wall Street ahead of the debate
▼ + stars: | 2024-09-10 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +3 min

This story is available exclusively to Business Insider subscribers. For Wall Street bankers, traders, and executives, the election also stands to affect their jobs and business prospects, from US trade relations to demand for megamergers. To see where Wall Street's top leaders stand ahead of Tuesday's debate, Business Insider scoured the Federal Election Commission website for individual donations from Wall Street leaders between 2023 and August. The data showed donations from leaders across investment banking, private equity, and hedge funds, including Blackstone and Evercore. See below to find which Wall Street tycoons are voting for which candidate in 2024 presidential election, in alphabetical order:

Persons: —, Donald Trump, Kamala Harris —, Richard Haass, Goldman Sachs, Trump, China —, Morgan Stanley, Harris, Joe Biden's, Biden Organizations: Service, Foreign Relations, Business, Centerview Partners, Wall Street, megamergers, Blackstone, JPMorgan, Citi, Bank of America Locations: China

☆ SEC charges Keurig Dr Pepper for making inaccurate claims about K-Cups' recyclability
▼ + stars: | 2024-09-10 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

The Securities and Exchange Commission has charged Keurig Dr Pepper for making inaccurate claims about the recyclability of its disposable K-Cup pods, the agency said Tuesday. As consumers have become more conscious of their carbon footprints, questions about K-Cups' environmental impact have dogged Keurig for more than a decade. The pods' inventor told the Atlantic that he feels bad "sometimes" about creating K-Cups because of the waste they generate. A 2018 lawsuit over recycling claims led to a $10 million class-action settlement. The company's claims could have swayed some consumers, boosting sales of both K-Cups and its brewers.

Persons: Dr Pepper, Keurig, recyclers Organizations: Securities, Exchange Commission, SEC, Research Locations: U.S, North America

☆ Investors are 'dramatically overestimating' an oil glut, Carlyle's Jeff Currie says
▼ + stars: | 2024-09-10 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

SINGAPORE — Global markets are severely overplaying an oil supply glut, said Jeff Currie, chief strategy officer of energy pathways at private equity giant Carlyle. China's crude oil imports in 2023 had notched a record high. China's oil demand has been declining on the back of a slump in industrial inputs, according the International Energy Agency. On the supply side, black oil production in the U.S., one of the world's top crude oil producers, has been "flat" this year, Currie said. Black oils include crude oil, fuel oil, furnace oil, asphalt and tar.

Persons: Currie, Jeff Currie, Carlyle, I've, Energean Organizations: Asia Pacific Petroleum Conference, SINGAPORE —, International Energy Agency, Reuters Locations: Stanton , Texas, Singapore, SINGAPORE, APPEC, U.S, Egypt, Italy, Croatia

☆ What business leaders should know about the SEC's cybersecurity disclosure rule
▼ + stars: | 2024-09-10 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +7 min

Last year, the SEC mandated that public companies disclose material cybersecurity incidents. "These types of cybersecurity incidents have a real impact, potentially, on shareholder value," Kate Dedenbach, a privacy and cyber attorney at Fisher Phillips in Detroit, told Business Insider. "The SEC's goal is to provide investors with more robust and timely information about cybersecurity incidents so they can make more knowledgeable investment decisions." There's a timeframe for disclosuresThe SEC says that determining a cybersecurity incident's materiality should be done "without reasonable delay" but doesn't specify a timeframe. The SEC says companies can delay disclosure if a cybersecurity incident poses a substantial risk to national security or public safety.

Persons: —, Hugh Thompson, Kate Dedenbach, Fisher Phillips, Thompson, LoanDepot, Lei Zhou, Zhou, Dedenbach, Steve Winterfeld, it's, Winterfeld, cyberattacks, Winterfield Organizations: SEC, Service, RSA Conference, US Securities and Exchange Commission, Microsoft, Forbes, University of, Akamai Technologies Locations: Detroit

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