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A woman visits a makeshift memorial near the former PMC Wagner Centre, associated with the founder of the Wagner Group, Yevgeny Prigozhin, in Saint Petersburg, Russia August 24. "From the point of view of Putin, as well as many among the security forces and the military, Prigozhin's death should be a lesson to any potential followers." Putin, who has spoken in the past of his hatred of traitors, described it at the time as a "stab in the back". 'GAME OF THRONES'But the death of Prigozhin, if confirmed, is not without cost to Putin. If Putin was responsible for Prigozhin's death, he said, it demonstrated he was willing to engage in brutal repression of any kind of dissent.

Persons: Yevgeny Prigozhin, Anastasia Barashkova, Putin, Wagner, Vladimir Putin, Prigozhin, Tatiana Stanovaya, Abbas Gallyamov, Gallyamov, Andrew Borene, Samuel Ramani, RUSI, Ramani, Sergei Surovikin, Surovikin, Robert Horvath, Mark Trevelyan, Gareth Jones, Andrew Heavens Organizations: PMC Wagner, Wagner Group, REUTERS, Reuters, Analysts, Kremlin, Central African, Putin, La Trobe University, Thomson Locations: Saint Petersburg, Russia, Kremlin, Ukraine, Africa, Moscow, United States, Belarus, Mali, Central African Republic, France, U.S, Melbourne

☆ Citi buys stake in Peruvian foreign exchange fintech
▼ + stars: | 2023-08-24 | by ( Tatiana Bautzer | ) www.reuters.com time to read: +1 min

NEW YORK, Aug 24 (Reuters) - Citigroup has acquired a stake in Peruvian foreign exchange startup Rextie, its first fintech investment in Latin America. Terms of the deal were not disclosed, but Citi and Rextie executives said the bank is injecting cash into the company to finance its growth. Rextie, founded in 2016, has closed so far $4.5 billion in forex transactions and expects to reach $7 billion by the end of next year. Rextie provides forex transactions through digital channels to 12,000 mid-sized and small companies in Peru and 170,000 individuals. Aldo Alvarez, Head of Institutional Strategic and Fintech Investments for LATAM at Citi, said the deal creates opportunities to offer the bank's products to Rextie clients.

Persons: Rextie, Aldo Alvarez, Mateu Batle, Tatiana Bautzer, Miral Organizations: Citigroup, Citi, Institutional, Fintech Investments, LATAM, Thomson Locations: Latin America, Peru

A woman visits a makeshift memorial near former PMC Wagner Centre, associated with the founder of the Wagner Group, Yevgeny Prigozhin, in Saint Petersburg, Russia August 24, 2023. Putin, who has spoken in the past of his hatred of traitors, described it as a "stab in the back". Prigozhin "assumed that Putin would not want to risk all this", Gallyamov said. 'GAME OF THRONES'But the death of Prigozhin, if confirmed, is not without cost to Putin. If Putin was responsible for Prigozhin's death, he said, it demonstrated he was willing to engage in brutal repression of any kind of dissent.

Persons: Yevgeny Prigozhin, Anastasia Barashkova, Putin, Vladimir Putin, Dmitry Utkin, Prigozhin, Tatiana Stanovaya, Wagner, Abbas Gallyamov, Gallyamov, Andrew Borene, Samuel Ramani, RUSI, Ramani, Sergei Surovikin, Surovikin, Mark Trevelyan, Gareth Jones, Andrew Heavens Organizations: PMC Wagner, Wagner Group, REUTERS, Kremlin, Putin, Central African, Analysts, Thomson Locations: Saint Petersburg, Russia, Kremlin, Ukraine, Africa, Moscow, Belarus, Mali, Central African Republic, France, United States, U.S

☆ Sigma Lithium, eyeing buyout, sues ex-CEO and daughter-in-law over trade secrets
▼ + stars: | 2023-08-22 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

NEW YORK, Aug 22 (Reuters) - Sigma Lithium (SGML.V), , which produces metal used in electric vehicle batteries, has sued a former co-chief executive officer, accusing him of stealing trade secrets to undermine the company's effort to sell itself. The lawsuit said Cabral-Gardner and Gardner lead a fund, A10 Investimentos, with a 44% stake in the company, with Cabral-Gardner owning 76% of the fund and Gardner owning 24%. In a July 28 interview, Cabral-Gardner said Sigma has been looking to strengthen its "unique environmentally competitive position" in the global supply chain. The case is Sigma Lithium Corp v Gardner et al, U.S. District Court, Southern District of New York, No. Reporting by Jonathan Stempel in New York; Additional reporting by Tatiana Bautzer; Editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Calvyn Gardner, Sigma's, Ana Cabral, Gardner, Luisa Valim, Gardner's, Valim, Cabral, Sigma, misappropriated, Jonathan Stempel, Tatiana Bautzer, Jonathan Oatis Organizations: Sigma, Bank of America, Sigma Lithium Corp, Court, Southern District of, Thomson Locations: Manhattan, Vancouver , British Columbia, Brazil, U.S, Southern District, Southern District of New York, New York

☆ Citigroup mulls plan to split its largest division - source
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. The bank is unlikely to replace Ybarra, the head of its Institutional Clients Group (ICG), the source said on Monday. The plans are still being considered and have not been finalized, the source said. The ICG unit provides financial services to institutional investors and governments. Its shares fell 0.6% alongside a broader decline in the S&P bank index, which dropped 0.5% in Monday trading.

Persons: Chris Helgren, Paco Ybarra, Jane Fraser, Scott Siefers, Piper Sandler, Ybarra, Tatiana Bautzer, Saeed Azhar, Lavanya, Dhanya Ann Thoppil, Hugh Lawson, Mark Potter Organizations: Citigroup Inc, Citi, REUTERS, Citigroup, Ybarra, Group, ICG, Financial Times, Reuters, Thomson Locations: Toronto , Ontario, Canada, New York, Bengaluru

Ahead of the contest, Australian Ethan Ewing experienced Teahupo'o's ferocity, fracturing two vertebrae during a warmup and putting the world No. 3 in doubt for the one-day Rip Curl WSL Finals in California next month to decide a world champion. The win gives Robinson the remaining spot at next month's Finals to go with his Olympic qualification secured earlier in the competition. Medina just missed out on both the Finals and the Brazil Olympic team. Simmers or Marks will qualify along with reigning world and Olympic champion Carissa Moore on Team USA depending on their final ranking after the Finals at Lower Trestles in San Clemente.

Persons: Jack Robinson, Caroline Marks, Caitlin Simmers, Marks, Teahupo'o, Ethan Ewing, Robinson, Medina, pip Medina, Carissa Moore, Joao Chianca, Griffin Colapinto, John John Florence, Leonardo Fioravante, Kanoa Igarashi, Jordy Smith, Matthew McGillivray, Moore, Tyler Wright, Molly Picklum, Tatiana Weston, Johanne Defay, Brisa Hennessy, Teresa Bonvalot, Jamie Freed Organizations: Tahiti Pro, Wednesday, Paris Olympics, Olympic, Brazil Olympic, Team USA, Lower, MEN Filipe Toledo, Lincoln, Thomson Locations: California, Western Australia, Lower Trestles, San Clemente, Brazil, USA, Australia, Italy, Japan, South Africa, Webb, France, Costa Rica, Portugal, CALIFORNIA, Toledo, Hawaii, Sydney

☆ We got an early look at TikTok's new music app that hasn't arrived in the US yet. The Spotify rival made great playlists but had a few big flaws.
▼ + stars: | 2023-08-17 | by ( Kai Xiang Teo | Dan Whateley | ) www.businessinsider.com time to read: +3 min

Now, it's using that influence to kick-start its own music-streaming app, TikTok Music. Like TikTok's interface, TikTok Music includes a "For You" feed of recommended content. This sets it apart from leading streamers like Spotify and Apple Music, which have limited in-app social features. It's still very early days for TikTok Music, and its rivals have a big headstart — Apple Music and Spotify are each in more than 100 countries. TikTok has not yet said when TikTok Music will roll out to other countries including the US.

Persons: TikTok, Tatiana Cirisano, Cirisano, It's, MIDiA Organizations: Spotify, Apple Music, MIDiA Research, TikTok, TikTok Music, YouTube Locations: Singapore, Brazil, Indonesia, Australia, Mexico

☆ JPMorgan, US Virgin Islands trade accusations over Epstein
▼ + stars: | 2023-08-15 | by ( Us Appeals Judge Faults Probe Of Federal Circuit'S Pauline Newman | Andrew Goudsward | Law Firm Clifford Chance Posts Increased Revenue | ) www.reuters.com time to read: +4 min

REUTERS/Mike Acquire Licensing Rights Read moreCompanies JPMorgan Chase & Co FollowNEW YORK, Aug 15 (Reuters) - JPMorgan Chase (JPM.N) and the U.S. Virgin Islands traded new accusations this week in legal filings over their relationships with the late disgraced financier Jeffrey Epstein. The largest U.S. bank detailed how Epstein allegedly funneled hundreds of thousands of dollars in payments and loans to a former U.S. Virgin Islands governor and his wife. The territory in a separate filing cited a 2011 email from a senior JPMorgan executive about suspicious cash withdrawals by Epstein. The filing containing the U.S. Virgin Islands accusations was more than 680 pages. The U.S. Virgin Islands also failed to show that the bank committed obstruction, JPMorgan said.

Persons: JP Morgan Chase, Mike, JPMorgan Chase, Jeffrey Epstein, Epstein, John de Jongh, Cecile, John Duffy, JE, Duffy, Mary Erdoes, “, Erdoes, Jonghs, USVI, JPMorgan, Nupur Anand, Tatiana Bautzer, Lananh Nguyen, David Gregorio Our Organizations: JP, Co, JPMorgan Chase, REUTERS, JPMorgan, U.S . Virgin Islands, U.S . Virgin, Thomson Locations: New York, U.S, Manhattan

☆ We tried TikTok's new music streaming app. Here's how it could win over users — and what it needs to fix.
▼ + stars: | 2023-08-14 | by ( Kai Xiang Teo | Dan Whateley | ) www.businessinsider.com time to read: +3 min

Now, it's using that influence to kick-start its own music-streaming app, TikTok Music. Like TikTok's interface, TikTok Music includes a "For You" feed of recommended content. It's still very early days for TikTok Music, and its rivals have a big headstart — Apple Music and Spotify are each in more than 100 countries. But other relative newcomers like YouTube Music have shown there's room to break into music streaming, particularly for platforms that can leverage another popular app to drive sign-ups. TikTok has not yet said when TikTok Music will roll out to other countries including the US.

☆ Yevgeny Prigozhin: Where in the world is the Wagner warlord?
▼ + stars: | 2023-08-13 | by ( Nathan Hodge | ) edition.cnn.com time to read: +8 min

It was a stark contrast to the fate of Yevgeny Prigozhin, the head of the Russian mercenary group Wagner. Back in June, Prigozhin led the abortive mutiny that presented the biggest challenge to Russian President Vladimir Putin in over two decades of rule. Speaking after Wagner fighters relocated to Belarus, Prigozhin suggested he remained focused on this core African market. In a recent Telegram message, Prigozhin hinted that Wagner might be ready to offer its services there. “And this is the (the reason for the) love for PMC Wagner, this is the high efficiency of PMC Wagner.

Persons: Alexey Navalny, Yevgeny Prigozhin, Wagner, Prigozhin, Vladimir Putin, Putin, ”, Prigozhin hasn’t, –, CNN’s Christiane Amanpour, Andrei Kelin, Kelin, “, ” Kelin, Vladimir, Kara, Murza, … Prigozhin, CNN's Christiane Amanpour, Candace Rondeaux, Rondeaux, it’s, ” Rondeaux, Mateusz Morawiecki, Morawiecki, ” Prigozhin, Sudan –, PMC Wagner, Mohamed Bazoum, Tatiana Stanovaya Organizations: CNN, Central African Republic, Kremlin, Amanpour, Putin’s, NATO, Polish, Wagner Group, PMC Wagner, PMC, Russian Foreign Ministry, Carnegie Russia Eurasia Center, Putin Locations: Russian, Moscow, Russia, Africa, St . Petersburg, Orchestra_W, United Kingdom, Ukrainian, Bakhmut, America, Prigozhin, Putin’s Russia, Poland, Belarus, Lithuania, Sudan, Libya, Niger, Putin Russia

☆ Rihanna drops Savage X Fenty maternity line
▼ + stars: | 2023-08-09 | by ( Kristen Rogers | ) edition.cnn.com time to read: +2 min

Now, as the singer and businesswoman and her partner, rapper A$AP Rocky, expect their second child, she’s expanding upon her pregnancy — and parenthood — aesthetic by designing and releasing a maternity capsule collection through lingerie brand Savage X Fenty. “The new maternity capsule is about bringing that confidence and comfort to moms at every stage of their journeys,” Rihanna said in a news release. “I want to remind people that you can still channel sexiness and feel-good while being a parent.”Model Essence Tatiana breastfeeds while wearing the Savage X Fenty Floral Lace Maternity Bralette in the color Black Caviar. Sophia WilsonThe new line features an oversized graphic tee with the cheeky message “Make More Babies” and three bralettes, all of which were both inspired by (and named after) Savage X Fenty’s most popular silhouettes — Savage X Cotton, Floral Lace and Savage Not Sorry. “I’m not going to let that part disappear because my body is changing.”Tatiana wears Savage X Fenty's Savage Not Sorry Lace Maternity Bralette in the color Purple Lavender.

Persons: Rihanna, baring, ” Rihanna, “, Tatiana breastfeeds, Sophia Wilson, Savage, it’s, ‘, Vogue, “ I’m, ” Tatiana, Sophia Wilson Savage, ” Organizations: CNN, Rocky

Brazilian President Luiz Inacio Lula da Silva has been advocating for a common regional policy to end deforestation by 2030, promising his country will reach zero deforestation. However, the failure to agree on a common policy to end deforestation in the Amazon is concerning, as the fate of the rainforest is critical to the health of the planet. It is home to a unique array of animal and plant life, and is crucial to maintaining a global climate balance because it stores a huge amount of carbon and strongly influences global weather patterns. According to CNN affiliate CNN Brasil, Guyana, Suriname and Bolivia left the meeting refusing to agree on a goal. On Monday, Colombia backed an indigenous-led global pact to protect 80% of the Amazon by 2025.

Persons: Luiz Inacio Lula da Silva, Lula da Silva’s, Jair Bolsonaro, haven’t, ” Lula da Silva, Evaristo Sa, Susana Muhamad Organizations: CNN, Amazon Cooperation Treaty Organization, Brazilian Amazon, Peoples of, Getty, Amazon Alliance, CNN Brasil, Brazil’s National Institute for Space Research, Colombian Locations: Brazil, Brazilian, Belém, Para State, AFP, Colombia, Peru, Bolivia, Ecuador, Venezuela, Guyana, Suriname, Amazonia

The logo of credit rating agency Moody's Investor Services is seen outside the office in Paris October 24, 2011.REUTERS/Philippe Wojazer/File PhotoNEW YORK, Aug 8 (Reuters) - Ratings agency Moody's said the U.S. banking sector is still strong even after it downgraded several small to mid-sized lenders and warned it might cut the ratings of several major banks. "What we're doing here is recognizing some headwinds - we're not saying that the banking system is broken," Ana Arsov, managing director of financial institutions at Moody's, told Reuters in an interview. An S&P index of bank stocks slid 2% after Moody's took action on 27 lenders on Monday, highlighting the challenges of higher interest rates, climbing funding costs and a looming recession that would weigh on profits. "As you look ahead, it doesn't feel like the pressure from interest rates being higher and overall monetary policy tightening is close to abating," said Jill Cetina, an associate managing director at Moody's. Reporting by Lananh Nguyen and Tatiana Bautzer; Editing by Mark Porter and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Philippe Wojazer, Moody's, we're, Ana Arsov, Jill Cetina, Lananh Nguyen, Tatiana Bautzer, Mark Porter, Jan Harvey Organizations: Moody's Investor Services, REUTERS, Reuters, Thomson Locations: Paris, Moody's, abating

By increasing the degree of risk attributed to certain assets, the proposed rules would require banks to hold proportionately more capital, potentially eating into returns on equity and profits. Making such lending more expensive will shrink credit available to historically under-served borrowers, something the industry is likely to fight, he said. Chen Xu, an attorney in the financial institutions group at Debevoise & Plimpton, said the new rules viewed high-revenue business lines as higher risk. Morgan Stanley (MS.N) analysts say the largest banks may take up to four years to set aside profits to comply with the new capital rules. Dennis Kelleher, head of the financial reform advocacy group Better Markets, said the banking industry had made similar complaints in the past which he believed had proven unfounded.

Persons: Mike Segar, Joe Saas, Chen Xu, Plimpton, Michael Barr, JPMorgan Chase, Jamie Dimon, Wells Fargo, Kevin Stein, Morgan Stanley, Richard Ramsden, Goldman Sachs, Ramsden, Dennis Kelleher, Douglas Gillison, Tatiana Bautzer, Nupur Anand, Saeed Azhar, Megan Davies, Anna Driver Organizations: Wall, New York Stock Exchange, REUTERS, Industry, Financial Services, Bank Policy Institute, Securities Industry, Financial Markets Association, Debevoise, JPMorgan, CNBC, Citigroup, Bank of America, Klaros Group, Banking Supervision, Better, Thomson Locations: Manhattan, New York City , New York, U.S, Washington, Wells, Basel

☆ Watching Simone Biles this weekend will show how women’s gymnastics has changed
▼ + stars: | 2023-08-05 | by ( Elle Reeve | ) edition.cnn.com time to read: +7 min

Simone Biles, photographed practicing this week, is set to compete for the first time since the Tokyo Olympics in July 2021. Stacy Revere/Getty ImagesAt 26, you might hear commentators call Biles “old” for her sport. “To do gymnastics, you have to have good strength-to-weight ratio,” said Jessica O’Beirne, host of the long-running GymCastic podcast. You can’t do the gymnastics required if you don’t have power.”In the bad old days, the emphasis was on weight. “One of the things that has totally changed is the fact that people understand now how important nutrition is.

Persons: Simone Biles, ”, she’s, Stacy Revere, Biles, Jessica O’Beirne, Bela Karolyi’s, Nadia Comaneci, Comaneci, Frank Barratt, Svetlana Boginskaya, Tatiana Lysenko, Jennifer Sey, Mattie Larson, Nick Laham, “, ” Larson, Podcaster O’Beirne, Ellie Black, Jade Carey, Jordan Chiles, Carey, Chiles, O’Beirne, ” O’Beirne, I’ve Organizations: CNN —, Tokyo, ”, Olympic, CNN, USA

A view shows the logo of Credit Suisse on a building near the Hallenstadion where Credit Suisse Annual General Meeting took place, two weeks after being bought by rival UBS in a government-brokered rescue, in Zurich, Switzerland, April 4, 2023. REUTERS/Pierre AlbouyNEW YORK, Aug 2 (Reuters) - UBS Group (UBSG.S) is laying off employees from Credit Suisse's investment bank this week in New York, a source familiar with the situation said. Bloomberg reported about the closure of the Houston office late on Tuesday. The job cuts come after UBS closed a government-backed deal to buy Credit Suisse in June. Since the announcement of the deal, UBS has made clear it will reduce the risk of Credit Suisse's investment bank.

Persons: Pierre Albouy, Tatiana Bautzer, Chris Reese, Diane Craft Organizations: Credit Suisse, UBS, REUTERS, Credit, Bloomberg, Thomson Locations: Zurich, Switzerland, New York, Houston

☆ JP Morgan CEO says capital regulations are disappointing, will curb lending
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +2 min

Jamie Dimon, Chairman of the Board and Chief Executive Officer of JPMorgan Chase & Co., speaks during the event Chase for Business The Experience - Miami hosted by JP Morgan Chase Bank for small business owners at The Wharf in Miami, Florida, U.S., February 8, 2023. REUTERS/Marco Bello/File PhotoNEW YORK, Aug 2 (Reuters) - JPMorgan (JPM.N) CEO Jamie Dimon said on Wednesday bank regulators risk making mortgages and small-business loans less affordable with the capital raises proposed by the Federal Reserve and the FDIC. "It's hugely disappointing," Dimon said of the capital requirements, adding the "operational risk capital is based on a model that makes no sense." The JPMorgan CEO said the Fed should be "cautious" about their models, which he said are not perfect. Dimon added it will become harder to extend a small mortgage to a consumer with a lower credit score.

Persons: Jamie Dimon, JP, Marco Bello, Dimon, Fitch, Tatiana Bautzer, Baranjot Kaur, Chris Reese, Sandra Maler Organizations: JPMorgan Chase &, Chase, Business The, Miami, JP Morgan Chase Bank, REUTERS, JPMorgan, Federal Reserve, CNBC, Thomson Locations: Miami , Florida, U.S, China, New York, Bengaluru

Sergey Vladimirovich Cherkasov is accused of entering the US under a false identity to spy on Americans in the lead up to Russia’s invasion of Ukraine. Russia’s request was made before the US extradition request, the Brazilian statement emphasized. This image shows Vladimirovich Cherkasov upon arriving in Brazil, according to the complaint filed by the US Attorney's Office of the District of Columbia. He allegedly operated under the alias Victor Muller Ferreira after establishing the fake identity in Brazil, according to US prosecutors handling the case. The DOJ accused Cherkasov of working for Russia’s military intelligence service.

Persons: Sergey Vladimirovich Cherkasov, Cherkasov, Vladimirovich Cherkasov, District of Columbia Cherkasov, Victor Muller Ferreira, Biden, Evan Gershkovich, Paul Whelan Organizations: CNN, Brazil’s Ministry of Justice, Public Security, Federal, US, Office, District of Columbia, US Attorney's Office, US Justice Department, TASS, White, DOJ, Russia Locations: Russian, Russia, Ukraine, Brazil, United States, Washington , DC, Moscow

NEW YORK, July 27 (Reuters) - Bank of America CEO Brian Moynihan said U.S. authorities need to be careful when implementing new capital requirements of the Basel III accord to avoid reducing the ability of U.S. banks to compete globally. ... We're talking about a $30 or $40 billion bank, or a $100 billion bank, not being able to compete for a middle market loan because a bank or a supplier in Europe ... is getting a lower cost of capital", Moynihan added. U.S. banking regulators are expected to unveil on Thursday a sweeping proposal for stricter bank capital requirements. While the precise details aren't yet known, regulators have said the rules will apply to banks with $100 billion in assets or more. Bank of America expects a "slight" recession in the first part of next year and predicts the first interest rate cut will happen by mid-2024.

Persons: Brian Moynihan, Moynihan, JPMorgan, Jonathan Stempel, Tatiana Bautzer, David Goodman, Chizu Organizations: YORK, Bank of America, Basel III, Fox Business, Pacwest Bancorp, JPMorgan Chase, Thomson Locations: Basel, U.S, Europe, Banc, California

☆ US bank regulators announce sweeping proposals on capital rules
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +4 min

WASHINGTON, July 27 (Reuters) - U.S. regulators unveiled a sweeping overhaul Thursday that would direct banks to set aside billions more in capital to guard against risk. If fully implemented, the proposal would raise capital requirements for large banks by an aggregate 16% from current levels, with the brunt felt by the largest and most complex firms, regulators said. Here are key quotes about the proposal:FINANCIAL SERVICES FORUM CEO KEVIN FROMER"There is no justification for significant increases in capital at the largest U.S. ANDY DUANE, ATTORNEY AT POLUNSKY BEITEL GREEN "Raising capital requirements could see regional banks shift away from mortgage lending. Even larger bank lenders could continue to retreat from mortgage lending or impose sharp increase in fees passed along to borrowers."

Persons: KEVIN FROMER, RICK MECKLER, CHERRY, MAYRA RODRIGUEZ VALLADARES, KENNETH BENTSEN, BRIAN MOYNIHAN, ANDY DUANE, GREG BAER, Pete Schroeder, Matt Tracy, Tatiana Bautzer, Nupur Anand, Sinead Carew, Lananh Nguyen, Nick Zieminski Organizations: Regulators, NEW VERNON, NEW, MRV, AMERICA, FOX, Thomson Locations: U.S, CHERRY LANE, NEW JERSEY, Basel, United States, Washington, New York

☆ Variety faces calls for a retraction as its head-turning story about CNN drama begins to fall apart
▼ + stars: | 2023-07-27 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

CNN —Variety has a mess on its hands. Former CNN chief Jeff Zucker, The Atlantic journalist Tim Alberta, and Puck Editor-In-Chief Jon Kelly have all called for the outlet to publicly correct the record. But, thus far, Variety has resisted taking any such action, outside quietly removing the widely panned Tatiana Siegel-written feature from its online homepage. The outlet’s deafening silence comes as the piece begins to fall apart in public. (It goes without saying that Zucker’s camp denied to Siegel that this ever happened, but she printed it anyway.)

Persons: Jeff Zucker, Tim Alberta, Puck, Jon Kelly, Tatiana Siegel, Chris Licht, ”, Byers, Zucker, Siegel, David Zaslav, ” Byers, Siegel weaved, imploring, Natalie Korach, Zucker’s, Ramin Setoodeh, Cynthia Littleton, Korach, Kelly, Puck’s, “, Jeffrey Goldberg, …, ” Goldberg Organizations: CNN, Variety, The Atlantic, Warner Bros, Penske Media Corporation, PMC, The Locations: . Alberta, ” Alberta, Miami, cabanas, ”, Russian, Littleton

CNN —At least 11 “complete bodies” and dozens of body parts, including human heads, were recovered on Wednesday from a major prison in Ecuador, after days of deadly prison clashes. The remains were collected at the Litoral Penitentiary in Guayaquil, Ecuador, where violence first erupted on Saturday. Some of the victims appeared to have been beheaded, the National Forensic Service of Ecuador told CNN en Español Wednesday. Ecuadorian President Guillermo Lasso has also signed a decree declaring a state of emergency across the country’s entire penitentiary system for the next 60 days. Over the past two years, Lasso has named five different directors of the prison service, but none have proven able to reduce the violence.

Persons: Cesar Munoz, Guillermo Lasso, Lasso Organizations: CNN, National Forensic Service, Wednesday, AP, Security, Twitter Locations: Ecuador, Litoral, Guayaquil

[1/3] FILE PHOTO: A sign is displayed on the Morgan Stanley building in New York U.S., July 16, 2018. REUTERS/Lucas Jackson/File PhotoNEW YORK, July 25 (Reuters) - U.S. banking giants may take up to four years to set aside profits to meet new capital rules, according to a report by Morgan Stanley. U.S. banking regulators will on Thursday unveil a sweeping proposal for stricter bank capital requirements known as the "Basel III endgame" aimed at ensuring the stability of big banks under international rules rolled out after the 2008 financial crisis. Holding more RWA will require banks to set aside more capital under the new standards. Most of the need to raise capital would come from assessments of the bank's operational risks and their trading books.

Persons: Morgan Stanley, Lucas Jackson, Betsy Graseck, Goldman Sachs, JPMorgan Chase, Morgan, Michael Barr, Tatiana Bautzer, Pete Schroeder, Lananh Nguyen, Chris Reese Organizations: New York U.S, REUTERS, Citigroup, JPMorgan, Bank of America, Federal, Federal Reserve, Federal Deposit Insurance Corporation, Thomson Locations: New York, Basel, Washington

It will be based in Los Angeles and led by Banc of California CEO Jared Wolff. Shares of PacWest surged 34% after the market close, while Banc of California jumped 9%. PacWest stockholders will receive 0.6569 Banc of California shares for each PacWest share they currently own. Meanwhile, the two private equity firms will be issued new Banc of California stock worth $400 million at a price of $12.30 per share. PacWest had total assets of $44 billion at the end of March, while Banc of California had assets of $10 billion, according to separate company filings.

Persons: Warburg Pincus, Centerbridge, Jared Wolff, PacWest, Timothy Coffey, Janney Montgomery Scott, Janet Yellen, Ares Management, Wolff, We've, David Smith, Nomura, Niket, Nupur Anand, David French, Pete Schroeder, Tatiana Bautzer, Megan Davies, Lananh Nguyen, Arun Koyyur, Jonathan Oatis, Sonali Paul Organizations: PacWest Bancorp, Warburg, Centerbridge Partners, midsize, RARE, Bank, Pacific Western Bank, Federal Deposit Insurance Corporation, Autonomous Research, U.S, Thomson Locations: Banc, California, Los Angeles, U.S, Bengaluru, New York

That special fee, which the FDIC proposed in May, would be assessed based on their uninsured deposits at the end of 2022. The regulator said some banks were "not reporting estimated uninsured deposits in accordance with the instructions." A July 6 report by S&P Global noted 55 banks restated their fourth-quarter uninsured deposits in FDIC reports, more than twice the norm. Specifically, the FDIC reminded banks they must report uninsured deposits backed by pledged assets as well as uninsured deposits held at their own subsidiaries. “Earlier this year, we identified certain internal or intra-bank accounts that shouldn’t have been reported,” Bank of America spokesman Bill Halldin said.

Persons: Zions, Paul Burdiss, Bill Halldin, Bank spokespeople, Niket, Pete Schroeder, Tatiana Bauzer, Shweta Agarwal, Megan Davies Organizations: U.S, Federal Deposit Insurance Corporation, Valley Bank, FDIC, P Global, Bank of America, ” Bank of America, P, Huntington National Bank, Bank, Bank Policy Institute, Thomson Locations: Bengaluru, Washington

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