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Both children received help through telehealth therapy, a service that schools around the country are offering in response to soaring mental health struggles among American youth. The growth reflects a booming new business born from America’s youth mental health crisis, which has proven so lucrative that venture capitalists are funding a new crop of school teletherapy companies. For rural schools and lower-income students in particular, it has made therapy easier to access. Schools let students connect with online counselors during the school day or after hours from home. It now employs more than 300 clinicians providing teletherapy in over 150 school districts in 15 states.

Persons: Maria Ishoo’s, Valerie Aguirre’s, ”, Ishoo, “, ” Ishoo, Trish Wilson, that’s, Wilson, Doreen Hogans, Kevin Dahill, Hazel, Josh Golomb, Prince George’s, Golomb, ” Golomb, Ashwin Vasan, ” Vasan, Fern Yoshida, Valerie Aguirre's, Aguirre, teletherapy, ” Aguirre, ’, Sharon Lurye Organizations: Associated Press, Schools, Hazel Health, Hazel, Los, Clark County, Dade, Press, Carnegie Corporation of New, AP Locations: California, Hawaii, Lancaster , California, Lancaster, Prince George’s County , Maryland, San Francisco, Los Angeles County, Clark, Las Vegas, Miami, Houston, New York City, New York, Maui, Carnegie Corporation of New York

This case requires us to determine whether the same rule applies to police encounters that take place on a bus. The mere fact that Bostick did not feel free to leave the bus does not mean that the police seized him. This court is not empowered to forbid law enforcement practices simply because it considers them distasteful. We therefore believe the district court erred in relying on whether the conduct ‘seriously affect plaintiff's psychological well-being’ ... As for the victims, the government now has license to transfer property from those with fewer resources to those with more.

Persons: Sandra Day O'Connor, Bostick, —, James Acton, Bollinger, ”, Rumsfeld, ’, James Madison, impartially Organizations: Florida Supreme, Systems, Law, Ritz, Carlton Locations: Florida, Hudson, New York, Harris, Davis, Vernonia, Acton, America, Hamdi, City of New London, ‘

☆ Robinhood opens in UK with low-cost US trading to woo clients
▼ + stars: | 2023-11-30 | by ( Sinead Cruise | ) www.reuters.com time to read: +2 min

The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company's IPO in New York City, U.S., July 29, 2021. Since then, trading activity has shrunk as people grapple with a cost-of-living crisis caused by high interest rates and inflation. Robinhood said UK customers will have access to commission-free trading of more than 6,000 US-listed stocks and American Depositary Receipts (ADRs), without foreign exchange fees and no account minimums. "For too long, UK investors have incurred high fees to invest in the U.S. markets and earned low returns on their uninvested cash," said Jordan Sinclair, president of Robinhood UK. The online brokerage missed Wall Street estimates for third-quarter revenue earlier this month after a slowdown in trading activity.

Persons: Andrew Kelly, Robinhood, Vlad Tenev, Jordan Sinclair, Sinead Cruise, Kirstin Ridley, Jane Merriman, Barbara Lewis Organizations: Inc, REUTERS, Authority, Robinhood, U.S . Federal Deposit Insurance Corporation, Thomson Locations: New York City, U.S, Britain, United States

☆ Senate committee investigating Florida’s state-backed home insurance company as private insurers flee
▼ + stars: | 2023-11-30 | by ( Ella Nilsen | ) edition.cnn.com time to read: +6 min

CNN —The US Senate Budget Committee is launching an investigation into whether Florida’s state-backed home and property insurance company has enough money in the bank to withstand future disasters, as scientists warn warming oceans and sea level rise are making storms more destructive. Citizens Property Insurance Corporation exists as a so-called insurer of last resort - if owners cannot convince a private insurance company to cover their property, Citizens will step in. If that were to happen, the Senate Budget Committee is worried Florida might turn to the federal government looking for a bailout, Whitehouse said. State insurers of last resort were originally intended as a stopgap for consumers, ensuring their coverage wouldn’t be interrupted. Florida isn’t alone; some major private insurers have either pulled out or stopped writing new policies in wildfire-prone California.

Persons: Ron DeSantis, “, Sen, Sheldon Whitehouse, ” Whitehouse, Michael Peltier, Whitehouse, ”, Benjamin Keys, ” Keys, ’, Keys, “ It’s Organizations: CNN, Citizens Property Insurance Corporation, Republican Gov, Citizens, Democrat, ”, Munich Re, Swiss, Wharton School, University of Pennsylvania, Senate, FAIR, Florida’s Citizens, Budget Locations: After Florida, Rhode Island, Florida, Miami, Tampa, “ Florida, Munich, riskiest, California

Until the embittered end, Henry Kissinger was one of the trusted few of a distrusting Richard Nixon. Political Cartoons View All 1273 Images“No doubt my vanity was piqued,” Kissinger later wrote of his expanding influence during Watergate. Two years later, Saigon fell to the communists, leaving a bitter taste among former U.S. allies who blamed Nixon, Kissinger and Congress for abandoning them. “The emigration of Jews from the Soviet Union is not an objective of American foreign policy,” Kissinger tells Nixon. And so they did — the Quaker-born Nixon, the Jewish-born Kissinger, on the floor, Nixon in tears about the unfairness of his fate.

Persons: Henry Kissinger, Richard Nixon, Kissinger, Nixon, Gerald Ford, ” Kissinger, ” Ford, “, ”, Donald Trump’s, Trump, ” —, —, — Kissinger, Robert Dallek, Walter Isaacson, David Frost, Isaacson, scrawled, Susan Mary Alsop, Stanley Kutler, “ Henry Kissinger, Jeffrey Kimball, starlets, Kissinger squired, Jill St, John, Shirley MacLaine, Marlo Thomas, Candice Bergen, Liv Ullmann, ” Nixon, H.R, Haldeman, Henry, It’s, Nancy Maginnes, Nelson Rockefeller, Gallup, Le Duc Tho, Tho, Walter, ” Walter, “ Kissinger, Ford, you’ve, ” “, ABC’s George Stephanopoulos, Kissinger demurred, Chile’s, Eisenhower, Augusto Pinochet, Pinochet, ” Peter Kornbluh, ” Heinz Alfred Kissinger, Heinz, Joe DiMaggio ”, Kennedy, Johnson, he’d “, William Rogers, Melvin Laird, Townsend Hoopes, deflating, ” Isaacson, Jimmy Carter, Ronald Reagan’s, diplomat’s Kissinger, George W, Bush, Long, didn’t, Bush “, Anneliese Fleischer, Elizabeth, David, extol Nixon, ” ___, Barry Schweid Organizations: WASHINGTON, Republican, Democratic, “ PBS, ”, National Security Council, State Department, Vietnam, Nixon, Hollywood, Playboy, Newsweek, America, Columbia University, Senate Armed Services Committee, White, Washington Post, New York Times, Yankee, Army, Harvard, Weapons, Rogers, Defense, Manhattan, New York Giants, Lincoln, diplomat’s Kissinger Associates, GOP Locations: U.S, Vietnam, China, Nazi Germany, Southeast Asia, Latin America, United States, Saigon, Soviet Union, White, Cambodia, South Vietnam, Khmer Rouge, Soviet, America, Chile, London, Pinochet, Bavarian, Fuerth, Manhattan, Germany, Pakistan, Beijing, Iraq, Afghanistan, American

☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, Eli Lilly, Salesforce, Snowflake, Snap, Pinterest and more
▼ + stars: | 2023-11-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Jefferies upgrades Pinterest and Snap to buy from hold Jefferies sees growth upside in 2024 for both stocks. " Wolfe upgrades Ally Financial to outperform from peer perform Wolfe said in its upgrade of the financial company that it's well-positioned. "In an environment where the probability of a mild recession or soft landing both appear plausible, we believe ALLY is well positioned to outperform in either scenario and upgrade shares to Outperform." "We continue to believe that Salesforce is on track to become the next quality [growth at a reasonable price] stock." Goldman Sachs reiterates Snowflake as buy Goldman Sachs stood by its buy rating on Snowflake after earnings on Wednesday.

Persons: Berenberg, Eli Lilly, Lilly, Wells, BTIG, Jefferies, Bernstein, Burger, Wolfe, TD Cowen downgrades Okta, Cowen, Stifel, Raymond James, Morgan Stanley, Bilibili, BILI, Baird, Pat Shanahan, Wells Fargo, Salesforce, Goldman Sachs, Snowflake, DUK Organizations: pharma, Nvidia, NVIDIA, Jefferies, SNAP, BK, UBS, Service Corporation, Deutsche Bank, Lattice Semiconductor, Apple, JPMorgan, Nokia, Infineon, Watch, Hewlett Packard Enterprise, Barclays, GE Healthcare, Airbus, Bank of America, Duke Energy, HSBC, Molson Coors Locations: FTCH, North America, China

☆ Where Will CD Rates Go in 2024?
▼ + stars: | 2023-11-29 | by ( Mallika Mitra | ) www.wsj.com time to read: +7 min

Interest rates that banks pay on certificates of deposit are closely tied to short-term interest rates set by the Federal Reserve. Now that the inflation rate has come down, many investing pros see two possible outcomes for interest rates in 2024: one in which the Fed has little choice but to cut rates steeply, and another in which the Fed can cut rates modestly. Either scenario would eventually result in CD rates decreasing, since rates on CDs tend to quickly follow Fed moves. Where will CD rates go in 2024? But if investors are correct that rate cuts are coming, those high CD rates will come down over the next few years, too.

Persons: Mallika Mitra, “, ”, Lili Vasileff, Leslie Falconio, “ They’re, you’ll, you’re, Jeremy Keil, ” Keil, Keil, “ You’ve, Ally Organizations: Federal Reserve, UBS, Wall, Federal Credit Union, Minnequa Works Credit Union, Federal Deposit Insurance Corporation, National Credit Union Administration Locations: Greenwich, Conn, U.S, Milwaukee, APYs

☆ How 3 big Supreme Court cases could derail the government
▼ + stars: | 2023-11-29 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

On Wednesday, the Supreme Court is hearing a case challenging the authority of federal agencies. AdvertisementThree major Supreme Court cases could upend the way the government works — and put Americans' federal benefits and consumer protections at risk. These are the other big cases to follow on the Supreme Court's docket. AdvertisementChanging how the federal government is allowed to make regulationsAnother Supreme Court challenge has big implications for the way all federal agencies function. AdvertisementThe Supreme Court will likely issue final decisions on these cases by June.

Persons: —, George Jarkesy, Jarkesy, Sheila Bair, Loper, Raimondo Organizations: Service, SEC, Securities and Exchange Commission, Center, American Progress, Social Security, Social Security Administration, Financial, Community Financial Services Association of America Ltd, Federal, Fifth Circuit, Federal Deposit Insurance, Loper Bright Enterprises, National Marine Fisheries Locations: Chevron

The U.S. Federal Deposit Insurance Corporation reported bank profits at $68.4 billion in the most recent quarter, down 3.4% from the prior quarter. Year over year, bank profits were down 4.6%, due in large part to banks setting aside more funds in provision expenses for potential loan losses, which were up 33.2% in the last four quarters. Noninterest income was down $4.1 billion, or 5.2%, in the third quarter, while realized losses climbed $3 billion, the FDIC said. "The banking industry continued to show resilience in the third quarter," said FDIC Chairman Martin Gruenberg in a prepared statement. Gruenberg, who typically holds a press conference following the release of the quarterly report on bank profits, was not made available to reporters Wednesday.

Persons: Sheila Bair, Jason Reed, Martin Gruenberg, Gruenberg, Sen, Joni Ernst, Pete Schroeder, Chizu Organizations: Federal Deposit Insurance Corp, REUTERS, Rights, U.S, Federal Deposit Insurance Corporation, FDIC, Republicans, Republican, Thomson Locations: Washington, Iowa

☆ The 'Korea discount': Value stock or value trap?
▼ + stars: | 2023-11-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +6 min

A cameraman takes video footage of a stock index board showing South Korea's benchmark stock index (L) after a ceremony celebrating the New Year's opening of the South Korea stock market at the Korea Exchange in Seoul on January 2, 2023. Chaebol challengeIn South Korea, most market heavyweights are corporations called "chaebols," large family-owned global conglomerates that are usually controlled by the founder's family. However, IHS Markit highlighted in June last year that in South Korea, the ex-dividend date comes before the companies' dividend announcement dates. With such challenges, should investors be putting their money into South Korea stocks — or should they stay away? "If authorities continue to improve the investment environment further, the chances for the South Korean stock index to be included in the [MSCI World Index] will grow," he said.

Persons: Jung Yeon, JUNG YEON, Vikas Pershad, Jiang Zhang, Jeremy Tan, Zhang, Hebe Chen, Chen, Ryota Abe Organizations: South, Korea Exchange, Getty, Management, North, CNBC, Samsung Electronics, LG, SK, Hyundai, Samsung, Tiger Fund Management, IHS, South Korea's Financial Services Commission, IG International, Sumitomo Mitsui Banking Locations: South Korea, Korea, Seoul, North Korea, Korea's, Southeast Asia

☆ Berkshire Hathaway vice chairman Charlie Munger dies at 99
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +12 min

Nov 28 (Reuters) - Charlie Munger, the longtime vice chairman and second-in-command to Warren Buffett at Berkshire Hathaway (BRKa.N), died on Tuesday morning at a California hospital. For stock-pickers like us to lose Charlie Munger, would be like if you’re a basketball fan and you lose Bill Russell. "I wouldn't think Berkshire will look much different, apart from Buffett no longer being able to share ideas with Munger. CATHERINE SEIFERT, VICE-PRESIDENT, CFRA RESEARCH, NEW YORK“Berkshire Hathaway shareholders are not going to be directly or negatively impacted from the passing of Charlie Munger. Therewass already a transition plan in place and there's a transition plan in place when Warren Buffett passes away.

Persons: Charlie Munger, Warren Buffett, Charlie, WHITNEY TILSON, BRIAN MOYNIHAN, Charlie Mungerwass, ” BURNS MCKINNEY, Bill Russell, ”, Berkshire Hathaway, ” PHIL ORLANDO, FEDERATED HERMES, BILL, Buffett, Munger, PHILLIP, —, STEVE SOSNICK, “, ” WIN MURRAY, DIAMOND, MARY JO, BILL SMEAD, Warren, ” “ Buffett, Todd Combs, Ted Weschler, ” PAUL LOUNTZIS, Greg Abel, I've, you'll, STEPHEN DODSON, hewass, ” PAUL NOLTE, FOR MURPHY, Warren Buffet, they've, QUINCY KROSBY, RICK MECKLER, CHERRY, NEW VERNON, Hewass, obviouslywass, DOUG KASS, ” THOMAS RUSSO, GARDNER RUSSO, QUINN, CATHERINE SEIFERT, he's, ” ANTHONY SAGLIMBENE, THOMAS HAYES Organizations: Berkshire Hathaway, COOK, APPLE, WHO, KASE, OF, FEDERATED, Berkshire, ” WIN, THE BRETTON, SAN, SYLVEST, NEW, Buffett, GREAT, Global Finance, Markets, Thomson Locations: California, Munger, Berkshire, American, DALLAS , TEXAS, GLENVIEW, CALIFORNIA, CONNECTICUT, DIAMOND HILL, COLUMBUS , OHIO, PHOENIX, ” “ Berkshire, , PENNSYLVANIA, ELMHURST, IL, CHARLOTTE, NC, CHERRY LANE, NEW JERSEY, LANCASTER , PENNSYLVANIA, Munger . Berkshire, TROY , MICHIGAN, GREAT HILL

☆ This is the best place to park cash to use for your next stock buys
▼ + stars: | 2023-11-26 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

According to money market tracker Crane Data , the average yield of the 100 largest money market funds is 5.19%. Money market funds vs. money market accounts Not to be confused with money market accounts (and other types of deposit accounts), money market funds are low-risk investments — and as such, they are not backed by the Federal Deposit Insurance Corporation (FDIC). Forbes put together a list of top money market funds from some of the biggest brokerages in the nation. To be sure, as CNBC Select points out, there are high-yield savings and money market accounts out there with yields approaching those from money market funds. But we want to emphasize that these were rare events and money market funds are considered very low-risk investments.

Persons: Jim Cramer, Louis P, Forbes, you'll, Jim Cramer's, Jim Organizations: Federal Deposit Insurance Corporation, CNBC, Jim Cramer's Charitable, New York Stock Exchange, Bloomberg, Getty Locations: New York, U.S

☆ Everybody Knows Flo From Progressive. Who Is Stephanie Courtney?
▼ + stars: | 2023-11-25 | by ( Caity Weaver | ) www.nytimes.com time to read: +2 min

According to Ad Age, in 2022 the Progressive Corporation spent more than $2 billion on advertising in the United States, pouring more money into the effort than McDonald’s, Toyota or Coca-Cola. (The insurance industry’s total annual media-ad spending is estimated to be just shy of $11 billion — more than was spent by all the top beer brands combined.) It is an interminable folk tale about buying insurance, propelled by the charisma, or connoted soothing attentiveness, or gently grating peskiness, or something, of Flo, its central character. Flo debuted in 2008, working the checkout of an eldritch white store uncannily devoid of shadows or edges. (In early ads, the store’s shelves were lined with packages of insurance — cornflakes boxes and tomato cans covered with Progressive branding.)

Persons: Progressive’s, Flo, ”, Harry Harlow’s, ” — Organizations: Progressive Corporation, Toyota Locations: United States

☆ Emmett Shear's old tweet about interning at Microsoft has come back to haunt him
▼ + stars: | 2023-11-21 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Emmett Shear tweeted in July that he once interned at Microsoft, and likened it to selling his soul. The OpenAI CEO is a prolific tweeter who posts about anything from sexual fantasies to Nazis vs AI. AdvertisementAs he announced he was taking the CEO role on Sunday, Shear tweeted a tamer nod to Microsoft. Just days before he accepted the OpenAI CEO role, he opined that the CEO job is likely one that can be replaced by computers. Microsoft did not immediately respond to a request for comment from Business Insider sent outside regular business hours.

Persons: Emmett Shear, helms, —, Shear, Twitch, he's, Altman, Satya Nadella Organizations: Microsoft, Service, Business Insider

☆ U.S. FDIC announces special committee to review allegations of sexual harassment, misconduct
▼ + stars: | 2023-11-21 | by ( ) www.cnbc.com time to read: +1 min

A special committee will oversee a review of alleged toxic workplace culture and sexual harassment, the U.S. Federal Deposit Insurance Corporation announced Tuesday, as the top banking regulator faced a reckoning following reports in the Wall Street Journal this month. "The Board supports taking all actions necessary to identify and address the root cause of the problem and to promote accountability," the FDIC's board of directors said in a statement. Citing interviews with more than 20 women who had quit, the Wall Street Journal reported last week the agency had failed to eradicate widespread harassment and misogynist behavior among staff and that FDIC Chair Martin Gruenberg himself had earned a reputation for bullying and leniency in cases of misconduct. The allegations have rocked the agency as Republican lawmakers called for Gruenberg to resign. Gruenberg has expressed dismay and vowed to address the problems as a top priority.

Persons: Martin Gruenberg, Gruenberg Organizations: U.S . Federal Deposit Insurance Corporation, Wall Street

☆ Two GOP Lawmakers Demand Records From FDIC
▼ + stars: | 2023-11-20 | by ( Rebecca Ballhaus | ) www.wsj.com time to read: 1 min

Federal Deposit Insurance Corp. Chairman Martin Gruenberg denied being subject to investigations for inappropriate workplace conduct at a House hearing, but later recanted his testimony, citing a 2008 investigation. Photo: Alex Wong/Getty ImagesTwo Republican lawmakers on the House Oversight Committee are investigating allegations of a toxic workplace at the Federal Deposit Insurance Corporation, sending a letter to the agency Monday requesting records and a briefing by senior officials. In a letter to FDIC Chairman Martin Gruenberg , Reps. Lisa McClain of Michigan and Andy Biggs of Arizona wrote that the agency “may have turned a blind eye to sexual harassment and discrimination within its staff.”

Persons: Martin Gruenberg, Alex Wong, Lisa McClain, Andy Biggs, ” Organizations: Deposit Insurance Corp, Federal Deposit Insurance Corporation, Lisa McClain of Locations: Lisa McClain of Michigan, Arizona

☆ There's a new CD king after bank with prior highest yield just slashed it
▼ + stars: | 2023-11-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

There's a new top dog when it comes to yields on 1-year certificates of deposit, according to an analysis by Stephens. Bread Financial now has the highest annual percentage yield for 1-year CDs among banks in Stephens' coverage at 5.6%. However, the online bank didn't reach the top by raising its APY. Instead, it was because LendingClub slashed its 1-year CD yield by 10 basis points to 5.55%, analyst Vincent Caintic said. "Online banks had already been cutting 1yr CD rates and this may likely continue as near-term rate expectations fall," Caintic said.

Persons: Stephens, LendingClub, Vincent Caintic, Caintic, What's, Austan Goolsbee, Jerome Powell, Michael Bloom, Jeff Cox Organizations: Bread, Federal Deposit Insurance Corporation, The Fed, Investors, Chicago Fed Locations: Stephens

"Coal in North Macedonia represents 40% of the energy source, so it's very big, it's very important," EBRD President Odile Renaud-Basso told Reuters. Both of its coal-fired plants are ageing, outdated and run on lignite, the most polluting type of coal. An IFC spokesperson said the green transition, including in North Macedonia, was one of its key priorities, but that it was not in a position to confirm any plan details. "The world's richest countries need to work with the multilateral development banks to find effective, structural ways to channel significantly scaled up energy transition finance," he said. North Macedonia joined the Powering Past Coal Alliance, a group of countries committed to phasing out coal-fired power, in 2021.

Persons: Odile Renaud, Basso, COP27, REK, Renaud, Leo Roberts, E3G, Kate Abnett, Kirsten Donovan, Louise Heavens Organizations: European Bank for Reconstruction, World Bank, Reuters, Investment, United Nations, Climate Investment Funds, International Finance Corporation, IFC, Bank, Past Coal Alliance, Union, Thomson Locations: Dubai, wean, Macedonia, North Macedonia, South Africa, Indonesia, Vietnam, Senegal, North, Skopje, Europe, Macedonian, Pakistan, Colombia, Ukraine

The deal, which is expected to be announced at the COP28 climate talks in Dubai beginning on Nov. 30, will lay out a plan to close the country's two coal power plants and replace them with 1.7 gigawatts of renewable energy. "Coal in North Macedonia represents 40% of the energy source, so it's very big, it's very important," EBRD President Odile Renaud-Basso told Reuters. Both of its coal-fired plants are ageing, outdated and run on lignite, the most polluting type of coal. An IFC spokesperson said the green transition, including in North Macedonia, was one of its key priorities, but that it was not in a position to confirm any plan details. North Macedonia joined the Powering Past Coal Alliance, a group of countries committed to phasing out coal-fired power, in 2021.

Persons: Odile Renaud, Basso, REK, Renaud, Kate Abnett, Kirsten Donovan Organizations: European Bank for Reconstruction, World Bank, Reuters, Investment, United Nations, Investment Funds, International Finance Corporation, IFC, Bank, Past Coal Alliance, Union, Thomson Locations: Dubai, wean, Macedonia, North Macedonia, South Africa, Indonesia, Vietnam, Senegal, North, Skopje, Europe, Macedonian, Ukraine

☆ Environmental groups urge funding halt for TotalEnergies' Mozambique project
▼ + stars: | 2023-11-17 | by ( Wendell Roelf | ) www.reuters.com time to read: +3 min

TotalEnergies signs are seen at a petrol station in Nice, France, October 10, 2022. The letter, seen by Reuters, comes at a crucial juncture for the French energy company as it prepares to relaunch Africa's largest foreign direct investment project. Activists warn the project may worsen climate change and fuel human rights abuses in the impoverished southern African nation. TotalEnergies said before Friday's letter that arrangements for project finance remain in place despite a 'force majeure' halt in 2021 when Islamist militants threatened the project site. The project delay has led some investors to reassess their previous cost assumptions in light of inflation and global gas market swings.

Persons: Eric Gaillard, Banks, TotalEnergies, Ntshengedzeni Maphula, Reta Jo Lewis, Wendell Roelf, Toby Sterling, Nellie Peyton, Forrest Crellin, Mathieu Rosemain, Yuka Obayashi, Tim Cocks, Olivia Kumwenda, Elaine Hardcastle Organizations: REUTERS, Reuters, ActionAid International, Greenpeace, African Development Bank, Societe Generale, Africa's Export Credit Insurance Corporation, Thomson Locations: Nice, France, Mozambique, Greenpeace France, Netherlands, U.S, Exim, Cape Town, Amsterdam, Johannesburg, Paris, Tokyo

☆ US lawmakers pressure FDIC chief over misconduct allegations
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

Friday's announcements suggest lawmakers will continue to pile pressure on Gruenberg over revelations about a key agency in the Biden administration's financial reform agenda. In a letter, Republican members of the House Financial Services Committee on Friday publicly notified Gruenberg of a probe announced earlier this week. An FDIC spokesperson told Reuters the agency would be "fully transparent and cooperative" with the committee's investigation. An FDIC OIG representative told Reuters on Friday the office had received the Senate Democrats' request and was reviewing it. "Chairman Gruenberg, the viability of your leadership is in question," wrote House Financial Services Committee Chair Patrick McHenry and senior members Bill Huizenga and Andy Barr, all Republicans.

Persons: Martin Gruenberg, Yuri Gripas, Gruenberg, Patrick McHenry, Bill Huizenga, Andy Barr, Douglas Gillison, Matthew Lewis Organizations: Federal Deposit Insurance Corporation, REUTERS, Companies U.S . House, U.S . Federal Deposit Insurance Corporation, Biden, Financial, FDIC, Reuters, Democratic, Banking, FDIC's, Democrats, Thomson Locations: Washington

☆ Pressure mounts on FDIC chief amid calls for recusal, congressional probe
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

The Federal Deposit Insurance Corp (FDIC) logo is seen at the FDIC headquarters as Chairman Sheila Bair announces the bank and thrift industry earnings for the fourth quarter 2010, in Washington, February 23, 2011. In a statement, FDIC Vice Chairman Travis Hill and board member Jonathan McKernan said that "at a minimum" Gruenberg and FDIC General Counsel Harrel Pettway should recuse themselves from the internal review of workplace conduct at the agency. "It is clear Mr. Gruenberg never should have been reappointed or confirmed in the first place," McHenry said. McHenry also said Gruenberg had "initially misled" the committee during testimony on Wednesday, at first claiming he had not been the subject of an investigation to his workplace conduct before acknowledging that he had. Reporting by Douglas Gillison; Editing by Chizu Nomiyama and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Sheila Bair, Jason Reed, Martin Gruenberg, Gruenberg, Travis Hill, Jonathan McKernan, Harrel Pettway, Patrick McHenry, McHenry, Douglas Gillison, Chizu Nomiyama, Nick Zieminski Organizations: Federal Deposit Insurance Corp, REUTERS, Republican, U.S, U.S . Federal Desposit Insurance Corporation, Financial Services, Thomson Locations: Washington, U.S .

☆ SiTime Corporation CEO Rajesh Vashist sits down with Jim Cramer
▼ + stars: | 2023-11-16 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

SiTime Corporation CEO Rajesh Vashist sits down with Jim CramerSiTime Corporation Chairman, President and CEO Rajesh Vashist joins 'Mad Money' host Jim Cramer to talk the timing chip sector, its China business, its supply chain and more.

Persons: Rajesh Vashist, Jim Cramer SiTime, Jim Cramer Organizations: SiTime Locations: China

☆ US FDIC to consider 'special assessment' for March bank failure losses
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

The Federal Deposit Insurance Corp (FDIC) logo is seen at the FDIC headquarters in Washington, February 23, 2011. REUTERS/Jason Reed/File Photo Acquire Licensing RightsNov 16 (Reuters) - The U.S. Federal Deposit Insurance Corporation on Thursday was due to consider approving the collection of bank fees to recover losses from the failures of Silicon Valley Bank and Signature Bank in March. The FDIC's board of directors had been due to conduct a public meeting to vote on the matter but the agency announced Thursday morning that board members would instead consider the matter in private. The final version may be different. (This story has been corrected throughout to say that the FDIC plans to vote without holding an open meeting)Reporting by Douglas Gillison; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Jason Reed, Douglas Gillison, Chizu Organizations: Federal Deposit Insurance Corp, REUTERS, U.S, Federal Deposit Insurance Corporation, Valley Bank, Signature Bank, Thomson Locations: Washington

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