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☆ 4 Iranians charged in scheme to hack US agencies and defense contractors
▼ + stars: | 2024-04-23 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +2 min

CNN —US prosecutors on Tuesday announced charges against four Iranian men for a sprawling hacking campaign that targeted US federal agencies and sensitive data held by American defense contractors. It was not immediately clear whether the departments of State or Treasury networks were successfully hacked in the campaign. In the indictment unsealed Tuesday, Hossein Harooni, Reza Kazemifar, Alireza Shafie Nasab and Komeil Baradaran Salmani were charged with wire and computer fraud, among other charges. Nasab had been charged in a previous indictment unsealed in the Southern District of New York in February. Prosecutors accused three of the men of working for a front company in Iran that purported to offer cybersecurity services.

Persons: ” Damian Williams, Hacking, Christopher Wray, Hossein Harooni, Reza Kazemifar, Shafie, Baradaran Salmani, Nasab, General Merrick Garland Organizations: CNN, US State, Treasury, Pentagon, of, Southern, State, Boston Children’s Hospital, Justice Department, Prosecutors, Treasury Department, Islamic Revolutionary Guard Corps, State Department, Iranian, United Nations Locations: Southern, of New York, US, Iran, Boston, Tehran

☆ US sues to block Tapestry’s Capri deal citing handbag market domination
▼ + stars: | 2024-04-22 | by ( ) edition.cnn.com time to read: +1 min

The US Federal Trade Commission said on Monday it was suing to block Coach parent Tapestry’s $8.5 billion deal to buy Michael Kors owner Capri, saying it would eliminate competition. This comes at a time when several US lawmakers have sought increased scrutiny from the FTC of several multi-billion dollar deals that might risk higher prices and affect consumers. US antitrust enforcers had also come out with new merger guidelines in December, in a bid to encourage fair, open and competitive markets. But the FTC requested more information from the firms on their deal in November. “Capri Holdings strongly disagrees with the FTC’s decision,” the company said in a statement.

Persons: Michael Kors, Capri, Tapestry, Louis Vuitton, “, Kate Spade, Jimmy Choo Organizations: US Federal Trade Commission, Capri, “ Capri Holdings, FTC, European Union, Japan

☆ Details about Jane Street's top secret, $1 billion trade revealed in court
▼ + stars: | 2024-04-19 | by ( Alex Morrell | ) www.businessinsider.com time to read: +9 min

Lawyers also revealed that the trade earned Jane Street $1 billion last year and was on pace to earn even more for the firm this year. Jane Street worried about extinguishing the trade's viability, Brown said, intentionally leaving short-term profits on the table to maintain its long-term viability. But the company's profits from the strategy plummeted in the month after the traders joined Millennium, Jane Street says, falling 50% in March. Engelmayer denied the temporary restraining order, saying Jane Street did not establish irreparable harm. Jane Street may believe irreversible harm has already taken place, given its desire to keep details of the trade secret, including the country it operates in.

Persons: —, Jane Street, Paul Engelmayer, pilfered, Doug Schadewald, Daniel Spottiswood, Jane, Deborah Brown, Quinn Emanuel, Engelmayer, Brown, Spottiswood, Andrew Levander, Levander, Jane Street's, Rollo Baker, Elsberg Baker, Maruri, Judge Engelmayer, Baker Organizations: Service, Management, Business, Millennium, Jane Street, Bloomberg Locations: Manhattan, India, Schadewald

☆ The Fed may have pumped so much money into the economy that it's now taking way longer to cut rates
▼ + stars: | 2024-04-17 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

So the Fed can keep interest rates higher for longer to cool price rises — although the central bank also has room to cut should the labor market "unexpectedly weaken," Powell added. Related storyHigher interest rates make borrowing more expensive for anything from mortgages to credit cards — it encourages people to save rather than spend, which in theory, helps bring down prices. AdvertisementConversely, lower interest rates encourage borrowing and spending — thus driving the economy when growth slows, such as during the COVID-19 pandemic when the Fed cut rates massively and pumped money into the system. But Reid thinks the excess money could be drained from the economy later this year, when money supply in the economy normalizes. AdvertisementDemand, supply chain snarls, and fiscal stimulus also contribute to inflationTo be sure, money supply isn't the only thing that contributes to inflation.

Persons: —, Jerome Powell, Powell, Jim Reid, it's, Reid, Bill Dudley Organizations: Service, Wilson Center, Business, Fed, Deutsche Bank, Federal Reserve, Bloomberg Locations: Washington, New York, Dudley

☆ Geopolitical strife is roiling Wall Street. Here’s what investors are watching
▼ + stars: | 2024-04-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Those what-ifs could further roil gas and oil prices. But if there’s further conflict, he said, “you’d see a much higher premium for oil prices. If there’s a de-escalation of tensions between Israel and Iran, they said, oil prices should come down over the next few weeks. But if there’s an escalation in conflict, they expect that oil prices could jump to more than $100 per barrel, they wrote in a note Monday. Retail sales rose 0.7% in March from the prior month, a slower pace than February’s upwardly revised 0.9% gain, the Commerce Department reported Monday.

Persons: New York CNN —, JPMorgan Chase, Jamie Dimon, ” Dimon, Jerome Powell, We’ll, Christine Lagarde, Andrew Bailey, Dave Sekera, Israel doesn’t, ”, “, Moody’s, there’s, Chris Isidore, Pete Muntean, Sam Salehpour, Read, Bryan Mena, Claire Tassin Organizations: CNN Business, Bell, New York CNN, Dow, JPMorgan, International Monetary Fund, IMF, Bank, Bank of Canada, Seven, European Central Bank, Bank of England, Morningstar, Nvidia, AMD, Wall Street Journal, Federal Reserve Bank of New, Boeing, Federal Aviation Administration, Alaska Airlines, Commerce Department, Morning, Amazon Locations: New York, Russia, Ukraine, China, United States, Washington ,, Iran, Israel, Federal Reserve Bank of New York

☆ Boeing somehow managed to get itself into even bigger trouble
▼ + stars: | 2024-04-10 | by ( David Goldman | ) edition.cnn.com time to read: +8 min

New York CNN —Boeing has achieved the unthinkable this week: It managed to fall even deeper into crisis. It ultimately approved the planes for shipments to airlines in March 2023 after becoming satisfied that Boeing had fixed the problem. Then, during the first weekend of 2024, part of an Alaska Airlines 737 Max blew off the side of the plane just after take-off, and Boeing has been in crisis mode ever since. In February, pilots on a United Airlines 737 Max reported that the flight controls jammed as the plane landed in Newark, New Jersey. The FAA is allowing the planes to continue flying and Boeing said the problem does not pose an immediate safety risk.

Persons: Sam Salehpour, Salehpour, McDonnell Douglas, Max, Boeing hasn’t, Dave Calhoun, Mike Whitaker, Whitaker, What’s, Boeing’s, Airlines, hasn’t Organizations: New, New York CNN, Boeing, US Federal Aviation Administration, FAA, New York Times, Alaska Airlines, National Transportation Safety Board, United Airlines, Airbus, Airlines Locations: New York, Newark , New Jersey

☆ The 'supercore' inflation measure shows Fed may have a real problem on its hands
▼ + stars: | 2024-04-10 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Eric Baradat | AFP | Getty ImagesA hotter-than-expected consumer price index reading rattled markets Wednesday, but markets are buzzing about an even more specific prices gauge contained within the data — the so-called supercore inflation reading. Along with the overall inflation measure, economists also look at the core CPI, which excludes volatile food and energy prices, to find the true trend. The supercore gauge, which also excludes shelter and rent costs from its services reading, takes it even a step further. Today, he added, the picture is more complicated because some of the most stubborn components of services inflation are household necessities like car and housing insurance as well as property taxes. Sticky inflation problem

Persons: Jerome Powell, Eric Baradat, Tom Fitzpatrick, Fitzpatrick, Dow Jones, Stephen Stanley, Ian Lyngen, we're Organizations: AFP, Getty, O'Brien & Associates, Dow, Santander U.S, Wall, CPI, BMO Capital Markets, Fed Locations: Washington ,

☆ Kaspersky: Biden administration preparing to prevent Americans from using Russian-made software over national security concern
▼ + stars: | 2024-04-09 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +9 min

US government agencies are already banned from using Kaspersky Lab software but action to prevent private companies from using the software would be unprecedented. It’s the latest US government effort to use its vast regulatory powers to prevent Americans from using popular technology that US officials consider a national security risk. A Kaspersky Lab spokesperson did not respond to questions about a potential prohibition or about how big the company’s market share is in the US. Commerce Department officials have to carefully consider how practical any such regulation would be for the department to enforce and for users to comply with. But the expected move from the Biden administration would go a step further by using Commerce Department authorities to prevent private companies from using Kaspersky Lab software.

Persons: CNN —, Biden, Joe Biden, Donald Trump, Kaspersky, Trump, ”, ” Henry Young, Young, Eugene Kaspersky, ” Kaspersky, hasn’t, Harold Martin, ” CNN’s Zachary Cohen, Phil Mattingly, Evan Perez Organizations: CNN, Commerce Department, Kaspersky, Commerce, Trump, Emergency Economic, Street, Companies “, Business Software Alliance, Department, McAfee, Symantec, Lab, —, Russian Ministry of Defense, West, National Security Agency, Politico, NSA, Wall Street Locations: Russian, America, Commerce, Moscow, Russia, Israel, Eugene, Ukraine

☆ These plane crash survivors and victims’ loved ones are becoming scared to fly again after years of travel. They’re not alone
▼ + stars: | 2024-04-06 | by ( Elizabeth Wolfe | ) edition.cnn.com time to read: +13 min

Others, however, said they are still confident in flight safety, pointing out that commercial air travel remains one of the safest modes of transportation. Cara and Erin Ashcraft survived the crash of American Airlines Flight 1420, operated on a McDonnell Douglas MD-82, during a landing at Little Rock National Airport on June 1, 1999. “I’ve never had concerns (about air travel safety) before. This is the hole left behind when the plug door of an Alaska Airlines flight blew off midflight on January 5, 2024. Pierson is wary of attitudes around the apparent safety of American air travel, he said.

Persons: Barb Handley, –, ” Handley, Handley, ”, ‘, Mary Handley, Alice, Barb Handley Miller, Pat Gabrielse, Dan Handley, Beth Handley McMall, Kathleen Handley Salemi, Cara, Erin Ashcraft, “, I’m, ” Cara, ” Cara Ashcraft, ’, McDonnell Douglas, Andy Scott, “ I’m, ” Erin Ashcraft, ” ‘ I’ve, Trey Smith, “ I’ve, ” Smith, Smith, Scott Kirby, United, Boeing Aubrey, Max, Aubrey, they’re, ” Anthony Brickhouse, Florida’s Embry, Brickhouse, Ed Pierson, Pierson, That’s, ” CNN’s Chris Isidore, Jacopo Prisco Organizations: CNN, Alaska Airlines, United Airlines Boeing, Boeing, –, National Transportation, NTSB, Federal Aviation Administration, United Airlines, American Airlines, McDonnell, Little Rock National Airport, Dallas Morning News, International Air Transport, United, Reuters United, Airbus, “ Airlines, Delta Air Lines, Hawaiian Airlines, Florida’s, Riddle Aeronautical University, Alaska Airlines Max, US Federal Aviation Administration, National Transportation Safety Board, Foundation for Aviation Safety, Air Canada, San Francisco International Airport Locations: Alaska, Little Rock , Arkansas, United States, Virginia, Los Angeles, East, Southwest

☆ Boeing CEO Dave Calhoun was paid $32.8 million in 2023
▼ + stars: | 2024-04-05 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Boeing CEO Dave Calhoun received total compensation of $32.8 million for 2023, a 45% increase from the $22.6 million he received for 2022. Boeing did enjoy improved results in 2023 from Calhoun’s first two years running the troubled aircraft manufacturer. Whatever conclusions are reached, Boeing is accountable for what happened.”Last month Calhoun announced he would be retiring at later this year and that the company had launched a search for a new CEO. But stock and other compensation he had already received when taking the job brought his 2020 total compensation to $21.7 million. It climbed slowly steadily in the two subsequent years, bringing his total compensation to $64.6 million heading into 2023.

Persons: Dave Calhoun, Calhoun’s, Max, Calhoun, . Calhoun Organizations: New, New York CNN, Boeing, Alaska Airlines, National Transportation Safety Board Locations: New York, .

☆ Summer travel could be extra chaotic as United pilots take unpaid leave and Boeing issues pile up
▼ + stars: | 2024-04-02 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

United Airlines has asked its pilots to take unpaid leave this summer and possibly into the fall. Across airlines, summer fliers may see disrupted flight schedules and pricier tickets. AdvertisementIn an early blow to summer travel, United Airlines has asked its pilots to take an unpaid leave next month, citing delayed aircraft deliveries from Boeing. Related storiesThe specific changes to United's summer flight lineup were not immediately available. Last week, the US Federal Aviation Administration said it was increasing scrutiny of United to ensure the airline's compliance with safety regulations.

Persons: —, Richard Aboulafia, Scott Kirby Organizations: Airlines, Service, United Airlines, Boeing, CNBC, United, Air Line Pilots Association, Business Insider, Ryanair, Transportation, Southwest Airlines, Alaska Airlines, US Federal Aviation Administration Locations: Frankfurt, Oregon, San Francisco, Japan

☆ Baltimore bridge collapse reveals a gap in federal government port protection powers
▼ + stars: | 2024-04-02 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Tugboats guide the Maersk Atlanta container ship at the Port of Newark in Newark, New Jersey, US, on Saturday, March 30, 2024. As the Dali container ship neared the Francis Scott Key Bridge after losing power and with no ability to navigate, there were no tug boats to guide it. It is unclear if the tugs remained with the Dali, a collision could have been averted. But maritime experts say that new tugboat regulation would be a reasonable response for the government to consider. The next day, the Coast Guard referred CNBC to the Joint Information Center (JIC) for the Key Bridge Casualty 2024 incident in Baltimore.

Persons: Dali, Francis Scott Key Organizations: Maersk, Port, Francis Scott Key Bridge, CNBC, Infrastructure Security Agency, Department of Homeland Security, Department of Transportation, U.S . Coast Guard, Coast Guard, Joint Information Center, U.S . Immigration, Customs, . Customs, Border Patrol Locations: Maersk Atlanta, Newark, Newark , New Jersey, US, Port of Baltimore, Baltimore

☆ Russia is rounding up more journalists a year after the arrest of Evan Gershkovich
▼ + stars: | 2024-03-29 | by ( Radina Gigova | Olesya Dmitracova | ) edition.cnn.com time to read: +3 min

London CNN —Six journalists working for independent media outlets in Russia were arrested in a span of just a few hours this week on the eve of the anniversary of American reporter Evan Gershkovich’s detention in the city of Yekaterinburg. The journalists include Antonina Favorskaya, who covered the late Russian opposition leader Alexey Navalny, Reporters Without Borders (RSF) said Thursday. On Friday, Gershkovich marked the grim milestone of one year in Russian detention. Shortly after his arrest, the Wall Street Journal reporter was charged with espionage — an accusation vehemently denied by Gershkovich, his employer and the US government. APThe six journalists, including Favorskaya, were arrested on Wednesday and Thursday, RSF said.

Persons: Evan Gershkovich’s, Antonina Favorskaya, Alexey Navalny, Favorskaya, Gershkovich, Navalny, Alexey Navalny's, RSF, “, ”, Jeanne Cavelier, “ RSF, ” Cavelier, ” RSF, Alexandra Astakhova, Anastasia Musayeva Organizations: London CNN —, Wall Street, US Federal Bureau of, TASS Locations: Russia, Yekaterinburg, Russian, Moscow, Eastern Europe, Central Asia

☆ Don't sweat the prospect of no Fed rate cuts, economist says — markets will still march higher
▼ + stars: | 2024-03-28 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +4 min

Federal Reserve Bank Chair Jerome Powell speaks during a news conference at the bank's William McChesney Martin building on March 20, 2024 in Washington, DC. His comments come as investors await the release of further U.S. economic data and closely monitor clues from Fed officials about the expected number of interest rate cuts in 2024. Asked on Thursday about the likelihood of one or no Fed interest rate cuts this year, Blitz said that it's "getting pretty good. Blitz said markets will likely continue to march higher, even if the Fed decides not to impose any interest rate cuts this year — a prospect that U.S. asset manager Vanguard named as their base-case scenario. Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, DC, US, on Friday, March 22, 2024.

Persons: Jerome Powell, William McChesney Martin, Chip Somodevilla, Steven Blitz, Blitz, They're, CNBC's, it's, Christopher Waller, Waller, Raphael Bostic, Jerome, Powell Organizations: Bank, Getty, Federal Reserve, TS Lombard, Traders, Fed, Vanguard, Economic, of New, Atlanta Federal Reserve, US Federal Reserve, Bloomberg Locations: Washington ,, U.S, of New York, Atlanta, Washington , DC

☆ Owner of ship that crashed into Baltimore bridge will likely try to invoke 1851 law used to cap damages after Titanic disaster
▼ + stars: | 2024-03-28 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +7 min

The owner of the ship that crashed into the Baltimore bridge faces a mountain of potential lawsuits. Experts say the owner will likely try to invoke an 1851 law to try to cap potential damages. The Limitation of Liability Act was successfully used by the Titanic owner after the 1912 sinking. "If they're fully successful, it will cap how much they have to pay in damages," Michael Sturley, an expert in maritime law and professor at the University of Texas at Austin's School of Law, told BI. However, I must say that the way things look at present, it seems unlikely that a limitation petition will be successful."

Persons: —, Maryland's Francis Scott Key, Dali, Michael Sturley, Sturley, Michael A, McCoy, it's, Martin Davies, Davies, Gordon Carey —, Carey, It's Organizations: Titanic, Service, University of Texas, Austin's School of Law, Private Ltd, Grace Ocean Private, Business, Washington Post, Wall Street, Titanic Inc, Maritime Law Center, Tulane University School of Law, White Star, Reuters, Synergy Marine Group, Synergy Marine Locations: Baltimore, Singapore, Sri Lanka, Patapsco, United States, , Oregon, Oregon

☆ It's March Madness time — and we mean business
▼ + stars: | 2024-03-21 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we've made a March Madness bracket to decide the biggest topics in business, tech, and innovation, and we need you to vote . [2] Interest rates vs. [7] US-China relations: The biggest question in the market is when the Federal Reserve will lower rates. China doesn't have as direct an impact on US businesses as interest rates, but it's not far behind. Anna Moneymaker/Getty ImagesThe Fed holds the line on interest rates.

Persons: —, Jensen, we've, ya, Kevin Frayer, Chelsea Jia Feng, it's, Elon Musk, Jerome Powell, Anna Moneymaker, he's, Goldman Sachs, Russell Horwitz, hasn't, Greg Doherty, Mustafa Suleyman, Karén Simonyan, Sam Altman, Alex Nabaum, It's, Elon Musk's Neuralink, Noland Arbaugh, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Service, Federal Reserve, EV, Boomers, Fed, UBS, BI, Wall, Variety, New York Stock Exchange, Microsoft, Amazon, FedEx, Nike Locations: China, VCs, Valley, New York, London

☆ WindRunner: Gigantic new aircraft design aims to create the largest plane ever to fly
▼ + stars: | 2024-03-19 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +3 min

Larger wind turbines produce more power than standard ones, but the components are too big to be transported by road. Meet the WindRunner airplane, whose mission will be to deliver gigantic 300-foot-long blades directly to wind farms. So WindRunner will have a cargo bay volume of 272,000 cubic feet, enough to hold three Olympic swimming pools. That’s 12 times the volume of a Boeing 747-400 and – at 356 feet in length, it’s 127 feet longer too. Currently, turbine blades today are ordinarily 230 feet or less (70 meters), but Radia wants to deploy blades of up to 104 meters (341 feet).

Persons: CNN —, Radia, Mark Lundstrum, Energy Ernest Moniz, Malcolm Turnbull, It’s Organizations: CNN, Boeing, FAA, Federal Aviation Administration, Bloomberg, XXL, MIT, Radia, Royce, Energy, Beluga XL, Airbus Locations: Colorado, Ukraine

☆ Japan's central bank just raised interest rates for the first time in 17 years
▼ + stars: | 2024-03-19 | by ( Yuri Kageyama | Associated Press | ) www.businessinsider.com time to read: +4 min

Read previewTOKYO (AP) — Japan's central bank raised its benchmark interest rate Tuesday for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy. The short-term rate was raised to a range of 0 to 0.1% from minus 0.1% at a policy meeting that confirmed expectations of a shift away from ultra-lax monetary policy. The negative interest rate policy, combined with other measures to inject money into the economy and keep borrowing costs low, "have fulfilled their roles," the bank said in a statement. The Japanese central bank's policy is quite different from those of the US Federal Reserve and the European Central Bank. Analysts expect the Bank of Japan to continue to move slowly on further raising interest rates.

Persons: —, Kazuo Ueda, Haruhiko Kuroda Organizations: Service, Business, Bank of, Bank of Japan, US Federal Reserve, European Central Bank Locations: Japan, Bank of Japan, U.S, China

☆ Live updates: Supreme Court hears arguments for First Amendment cases
▼ + stars: | 2024-03-18 | by ( Dan Berman | Brian Fung | ) edition.cnn.com time to read: +1 min

The US Supreme Court is hearing arguments in a case that will decide whether the Biden administration's communication with social media companies during the Covid-19 pandemic violated free speech. The legal question: Whether the US government unconstitutionally pressured social media platforms into censoring users’ speech — particularly when the government flagged posts to the platforms that it believed violated the companies’ terms of service. How we got here: The states of Missouri and Louisiana, along with five social-media users, brought the lawsuit against various federal officials. In July 2023, a federal judge issued a preliminary injunction ordering federal agencies and more than a dozen top officials not to communicate with social media companies about taking down “content containing protected free speech." The Supreme Court paused that injunction from going into effect in October 2023 until it heard the case.

Persons: Biden Organizations: Biden Locations: Missouri, Louisiana

☆ If Peter Navarro goes to prison, he’ll hear the lions roar
▼ + stars: | 2024-03-18 | by ( Katelyn | ) edition.cnn.com time to read: +5 min

“Not only can you hear the lions … you can hear the lions roar every morning,” said Sam Mangel, Navarro’s prison consultant. Navarro is still appealing, asking the Supreme Court to intervene before he turns himself in on Tuesday morning. Another Trump adviser, Steve Bannon, has also been sentenced to four months in prison for contempt of Congress related to the same investigation, but his prison report date is on hold as he too pursues appeals. Mangel said Navarro will have to take classes and get a job inside the prison. US Federal Bureau of PrisonsDOJ asks Supreme Court to reject Navarro’s last-ditch effortThe Justice Department asked the Supreme Court on Monday to reject Navarro’s last-ditch effort to avoid reporting to prison.

Persons: Peter Navarro –, –, Navarro, “, ”, Sam Mangel, ” Mangel, Steve Bannon, ” Stanley Brand, doesn’t, Mangel, Navarro “ acclimate, He’ll, Navarro’s, Elizabeth Prelogar, meritless ”, ” Prelogar, ” CNN’s Devan Cole Organizations: CNN, Trump White House, White House, of Prisons, Trump, White, Congress, Prisons, US Federal Bureau of Prisons, FCI Miami, US Federal Bureau of, DOJ, Justice Department Locations: Miami, Puerto Rico

☆ Menendez Leaves Re-Election Plans Murky, But Dormant Campaign Gives Hints
▼ + stars: | 2024-03-16 | by ( Tracey Tully | Nicholas Fandos | ) www.nytimes.com time to read: 1 min

Plagued by legal trouble and abandoned by his allies, Senator Robert Menendez has made clear what he will not do: quit before his term is over in January. He has taken to the Senate floor to profess that he is innocent of what he insists are trumped-up bribery charges pursued by overzealous federal prosecutors. And he has ignored widespread, sometimes mocking calls for his resignation. But when it comes to whether Mr. Menendez, a New Jersey Democrat, intends to seek re-election, he has been uncharacteristically coy. “I don’t think announcing it in a courtroom would be the best idea,” he said after being arraigned Monday in Manhattan for the third time on charges that he participated in a yearslong bribery conspiracy.

Persons: Robert Menendez, Menendez, coy, “, ” Organizations: New, New Jersey Democrat Locations: New Jersey, Manhattan

☆ A federal climate jobs program could hire 20,000 workers this year
▼ + stars: | 2024-03-14 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

President Joe Biden this month made climate jobs a major focus of his reelection bid. The administration plans to launch the American Climate Corps this summer with about 20,000 workers, but the funding is pieced together from various federal agencies. These prospective voters are also the target hires for the American Climate Corps, which will focus on reducing greenhouse-gas pollution in local communities and making them more resilient to extreme weather. Stevie O'Hanlon, a spokesperson for the Sunrise Movement, which mobilizes young voters focused on the climate, said the launch of the American Climate Corps was a big win. But the chances of Congress approving more funding for the workforce program are slim, given that House Republicans last year tried to block any federal spending for the American Climate Corps.

Persons: Joe Biden, Biden, Trevor Dolan, Dolan, Stevie O'Hanlon, O'Hanlon, Donald Trump hasn't, We've Organizations: Service, Climate Corps, American, Corps, Business, Biden, American Climate Corps, Evergreen, EV, Sunrise Movement, Republicans Locations: Appalachia

☆ Opinion: What Hunter Biden and Donald Trump have in common
▼ + stars: | 2024-03-13 | by ( Opinion Andrey Spektor | ) edition.cnn.com time to read: +9 min

CNN —Hunter Biden won’t be returning to the spotlight next week as the House Oversight Committee had hoped. The problem with the Hunter Biden investigation, though, is not its potential reliance on the word of a compromised informant. And in that sense, Hunter Biden shares something in common with an unlikely person: Trump, at least with respect to his criminal case in New York. Much like the gun charge against Hunter Biden, the tax indictment has left many former federal white-collar prosecutors like me scratching their heads. That doesn’t mean that Trump or Hunter Biden are innocent; indeed, the former has more serious cases to contend with.

Persons: Andrey Spektor, Bryan Cave Leighton Paisner, CNN — Hunter Biden won’t, James Comer’s, Joe Biden, Andrey Spektor Bryan Cave Leighton, Hunter, Alexander Smirnov, Biden, you’ve, Smirnov, Hunter Biden, –, Donald Trump –, that’s, Trump, Hunter Biden’s Organizations: CNN, Republicans, Biden, Republican, Department of Justice Tax, IRS, DOJ’s Locations: New York

☆ Jamie Dimon says the Fed should wait on the rate cuts as its credibility is 'a bit at stake'
▼ + stars: | 2024-03-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

JP Morgan Chase CEO Jamie Dimon said the US Federal Reserve should delay cutting interest rates until the second half of the year. He said the Fed should wait for more data before cutting rates. Despite the market's optimism for a soft landing, Dimon says there's a 65% chance of a recession in the next two years. AdvertisementThe US Federal Reserve should wait until the second half of the year before cutting interest rates, JP Morgan Chase CEO Jamie Dimon said on Tuesday. So, the market is pricing in a 70% to 80% chance of a soft landing.

Persons: Morgan Chase, Jamie Dimon, there's, —, JP Morgan Chase, “, Dimon, ” Organizations: US, Reserve, Service, Federal, Australian Financial, Business

☆ Why it will be tough for Biden to defeat Trump
▼ + stars: | 2024-03-09 | by ( Harry Enten | ) edition.cnn.com time to read: +6 min

Joe Biden and Donald Trump are set to face off in the first presidential rematch since 1956. It’s that a lead of any margin for Trump was unheard of during the 2020 campaign – not a single poll that met CNN’s standards for publication showed Trump leading Biden nationally. It’s possible that if consumer sentiment continues to improve or border crossings decline, Biden could pick up steam against Trump. This means that it isn’t enough for Biden merely to win voters who dislike both men. For more people to turn against Trump, Biden’s best hope may lie with the four criminal indictments against the former president.

Persons: Joe Biden, Donald Trump, It’s, Biden, Trump, KFF, –, I’ve, isn’t, it’s, I’m, George H.W, George H.W . Bush Organizations: CNN, Trump, The New York Times, Siena College, CBS, Fox News, Street, Biden, Electoral College (, Democratic, Electoral College, New, New York Times Locations: Electoral College ( Arizona, Georgia, Wisconsin, Arizona , Georgia, Nevada, Michigan, George H.W ., New York

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