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☆ Tesla scores court win in Sweden in month-long battle with unions
▼ + stars: | 2023-11-28 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —Elon Musk has notched a victory against Swedish workers as a court ruled that Tesla can collect license plates for its cars from the country’s transport authority after postal workers refused to deliver them. Postal workers stopped delivering them to the company last week in sympathy with Tesla’s mechanics who began an ongoing strike in late October. Musk called the postal workers’ actions “insane” in a post on X last week. “Swedish wages and working conditions should apply to all workers in Sweden,” the body said in a statement on its website earlier this month. A company that comes to Sweden must adapt to what applies here.”Musk, the world’s richest man, has been vocal about his opposition to unions.

Persons: London CNN — Elon, Tesla, Musk, ” Tesla, dockworkers, ” Musk, — Olesya Dmitracova Organizations: London CNN, CNN, Sweden’s Transport Agency, Reuters, Transport Agency, Tesla, IF Metall, Swedish Trade Union Confederation, National Labor Relations Board, IG Metall Locations: Norrköping, Sweden’s, Sweden, Swedish, “, Tesla, Berlin, Germany

WASHINGTON (AP) — Donald Trump had a “good faith” basis to question the results of the 2020 election, his lawyers said in demanding that prosecutors turn over any evidence related to voting irregularities and potential foreign interference in the contest won by Democrat Joe Biden. Political Cartoons View All 1267 ImagesBut the Trump team asserts in the 37-page filing that he had reason to question the results. It also revisits the intelligence community's effort in 2020 to discern potential interference by countries including Russia, China and Iran. It quotes from a Jan. 7, 2021 memo from John Ratcliffe, the then-director of national intelligence and a close Trump ally, that said China sought to influence the election. The Trump lawyers have already asked U.S. District Judge Tanya Chutkan to dismiss the indictment, saying he is shielded from prosecution by presidential immunity and arguing that the charges violate his First Amendment rights.

Persons: — Donald Trump, Democrat Joe Biden, Trump, President Trump, Jack Smith's, ”, Hillary Clinton, John Ratcliffe, Smith, Tanya Chutkan Organizations: WASHINGTON, Democrat, Homeland Security, Republican, Democratic, Intelligence Community, Defense, U.S . Capitol, Trump loyalists, Capitol, Trump, U.S Locations: Washington, Moscow, Russia, China, Iran, Russian

☆ Tesla strikes in Sweden are getting under Elon Musk’s skin
▼ + stars: | 2023-11-24 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +3 min

London CNN —It has taken nearly a month, but workers striking against Tesla in Sweden have finally drawn a response from the company’s famously anti-union boss. “This is insane,” CEO Elon Musk said Thursday on X, the platform formerly known as Twitter that he owns. Musk was responding to news that Swedish postal workers are refusing to deliver Tesla license plates, joining a wave of action in sympathy with mechanics who stopped servicing Tesla cars late last month. About 130 mechanics began their ongoing strike in October after their employer, a Tesla subsidiary in Sweden, announced that it would not recognize their labor union, according to Expressen, a CNN affiliate. Still, the strikes by Swedish workers may embolden Tesla’s employees in Germany, where it has a large plant manufacturing electric vehicles and battery cells.

Persons: Elon Musk, Musk, dockworkers, Tesla Organizations: London CNN, Tesla, CNN, IF Metall, National Labor Relations Board, Reuters, IG Metall Locations: Sweden, Swedish, United States, Buffalo , New York, Germany, Berlin, German Union, —, German, Wolfsburg

☆ What we know about the explosion at Rainbow Bridge near Niagara Falls
▼ + stars: | 2023-11-23 | by ( John Miller | Elizabeth Wolfe | ) edition.cnn.com time to read: +5 min

Alarms were raised from New York to Washington, DC, late Wednesday morning after the incident on the US side of the Rainbow Bridge crossing. “Two individuals died in the vehicle,” Hochul said, noting the car is associated with a western New York resident. The explosion prompted a temporary shutdown of all four bridges between Canada and the US near Niagara Falls on one of the busiest travel days of the year. Debris is scattered across the customs plaza at the Rainbow Bridge border crossing on Wednesday in Niagara Falls, New York. All cars coming into the airport were also being screened by bomb-detecting dogs, a Niagara Frontier Transportation Authority spokesperson said.

Persons: “, ”, Kathy Hochul, ” Hochul, Hochul, Rickie Wilson, Derek Gee, Trini Ross, Matthew Miraglia, We’re, Pete Muntean, Raja Razek, Dave Alsup, Josh Campbell, Sabrina Souza Organizations: CNN — Investigators, FBI, New Yorkers, ” New York Gov, Customs, CNN, AP FBI, Western, of, Buffalo Niagara International, US Federal Aviation Administration, Niagara Frontier Transportation Authority, Amtrak, Terrorism Task Force, Niagara, Niagara Falls Police Department Locations: New York, Canada, Niagara Falls, Washington, DC, Buffalo, Niagara Falls , New York, of New York, Toronto

☆ Opinion: A Trump second term would be dangerous because he’s told us it would be
▼ + stars: | 2023-11-22 | by ( Julian Zelizer | ) edition.cnn.com time to read: +8 min

On Veteran’s Day, Trump called his enemies “vermin” and spoke of his intention to go after opponents should he regain power. Presidential power has been a bipartisan affair. Frustrated with the Republican Congress, for instance, President Bill Clinton used executive action to expand the environmental programs of the federal government. Most recently, Biden leaned on executive power to advance a student loan forgiveness program that the courts ultimately overturned. When presidents use presidential power in dangerous ways, not only does this present a dangerous stress test at the moment, but it also means that over time, the expansions of power are rarely cut back.

Persons: Julian Zelizer, Donald Trump’s, it’s, Trump, ”, Joe Biden, Richard Nixon, “ Mr, Franklin Roosevelt, Nixon, Arthur M, Schlesinger Jr, George W, Bush, Bill Clinton, Biden, It’s, Mike Pence Organizations: CNN, Princeton University, The New York Times, America, Republican, Heritage Foundation, Department of Justice, New York Times, White, Times, Federal Communications Commission, Federal Trade Commission, ”, Trump Locations: ”, —

☆ The US dollar is central to Argentina's plan to fix its broken economy. There's just one hitch.
▼ + stars: | 2023-11-22 | by ( George Glover | ) www.businessinsider.com time to read: +5 min

Argentina's new president Javier Milei wants to adopt the US dollar to tame sky-high inflation. There's a major problem with his plan to revive the ailing South American economy. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRight-wing economist Javier Milei won Argentina's presidential runoff Sunday – and that means the country could soon ditch the peso for the US dollar. Under the president-elect's plan, the government would scrap the peso and replace it with the dollar.

Persons: Javier Milei, doesn't, —, Milei, Mary, Read, John Hopkins, Steve Hanke, Guillermo Ortiz, Nora Mazzini, Lucila Bonilla Organizations: Service, Central Bank of, US Federal Reserve, International Monetary Fund, Bank, Reuters, Bloomberg, Bank of Mexico, Economics, Oxford Economics Locations: Central Bank of Argentina, Ecuador, El, Panama, Argentina, Mar del Plata, Argentine

☆ There are now more central banks cutting interest rates than those hiking them: Deutsche Bank analysis
▼ + stars: | 2023-11-22 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

There are now more central banks cutting rates than those hiking rates, per a Deutsche Bank analysis. For the first time since January 2021, there are more central banks cutting rates than those hiking them, according to an analysis by Jim Reid, a research strategist at Deutsche Bank, MarketWatch reported on Tuesday. The trend started last month, with 10 central banks cutting rates — outnumbering those that hiked rates in the same time period, according to Reid's analysis of 81 central banks around the world. The trend continued this month with five central banks — including include those in Brazil and Peru — cutting rates so far. AdvertisementWhile major central banks like the US Federal Reserve and the European Central Bank are keeping rates steady right now, there are bets that they, too, will start to hike rates in the months ahead.

Persons: —, Jim Reid, Reid, That's Organizations: Deutsche Bank, Service, MarketWatch, US Federal Reserve, European Central Bank, UBS Locations: Brazil, Peru, Swiss

☆ Can Argentina really move from the peso to the dollar?
▼ + stars: | 2023-11-20 | by ( Hanna Ziady | ) edition.cnn.com time to read: +7 min

2 economy and ditch its peso currency in favor of the US dollar. Milei must tackle inflation above 140%, a shortfall in foreign currency reserves and the prospect of another painful recession. Argentina’s financial markets are closed Monday for a local holiday, but the peso weakened slightly in partial trade to stand at around 353.58 to the US dollar. Bruno Gennari, Argentina expert at fixed income broker dealer KNG Securities, said the peso was trading at $1,009 versus the dollar on crypto exchanges Monday, considerably weaker than the $869 and $975 rates seen on Friday. Dollarization means Argentina would give up the peso and use the US dollar as its currency, effectively wresting control of monetary policy from the country’s central bank and handing it to the US Federal Reserve.

Persons: London CNN — Javier Milei, Sergio Massa, Milei, ” —, —, ” Milei, ”, “, Bruno Gennari, Javier Milei, Natacha, dollarization, ” William Jackson, “ It’s, Thierry Larose, ” Larose, Kristalina Georgieva, Jackson, — Valentina Gonzalez, Stefano Pozzebon, Olesya Dmitracova Organizations: London CNN, Libertad Avanza, Peronist, “, ” Financial, Argentine, State, Banco, Grupo Financiero Galicia, KNG Securities, US Federal Reserve, AP, Capital Economics, Vontobel, Management, CNN, Monetary Fund, Bank, IMF, Reuters Locations: Argentina, New York, Brazil, Mexico, Dollarization, Argentina’s, Zurich, dollarization, Washington, DC, Argentine

☆ Argentina election: Will Milei’s plan to ditch peso for the dollar be a vote-winner against Massa?
▼ + stars: | 2023-11-16 | by ( Analysis Stefano Pozzebon | ) edition.cnn.com time to read: +8 min

To fix the problem, Argentina should abandon the peso and adopt the dollar, whose value is set by the US Federal Reserve and cannot be printed at will. Massa has criticized the plan for dollarization as a surrender of national sovereignty and attempted to show that the government’s current actions are already paying dividends. Other mainstream politicians, including former the President Mauricio Macri and another former election candidate, Patricia Bullrich, have endorsed Milei despite sharing some reservations on dollarization. ET) and the vote count is expected to be quick – barring any unforeseen problems or objections, that is. Milei appeared to question the results of the first round of voting in October, although his party did not formally appeal.

Persons: Argentina’s, Sergio Massa, Javier Milei, Milei, Massa, dollarization, Pope Francis, “, Satan ”, Francis, Tucker Carlson, Milton Friedman, Argentinians, Mauricio Macri, Patricia Bullrich, Brazil’s Luiz Inácio Lula da Silva, Colombia’s Gustavo Petro, Spain’s José Luis Rodriguez Zapatero, Jair Bolsonaro, Mario Vargas Llosa, Mariano Rajoy, Donald Trump Organizations: CNN, Massa, Union por la Patria, Union, La Libertad, US Federal Reserve, Cato Institute Locations: Buenos Aires, Argentina, South America, Latin America, Ecuador, El Salvador, US, Argentina’s, Peruvian, Spanish

☆ IRS announces new income tax brackets
▼ + stars: | 2023-11-10 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +3 min

New York CNN —If you are someone who likes to plan ahead on your taxes, the IRS this week released the new inflation-adjusted income tax brackets and standard deduction amounts that will be in effect for tax year 2024. The IRS makes inflation adjustments annually to tax brackets, the standard deduction and some other tax breaks. New income tax bracketsThe US federal income tax code currently has seven tax rates – 10%, 12%, 22%, 24%, 32%, 35% and 37%. For tax year 2024, each of the seven rates will apply to the following new income tax brackets:10%: Income up to $11,600 ($23,200 for married couples filing jointly)12%: Income over $11,600 ($23,200 for joint filers)22%: Income over $47,150 ($94,300 for joint filers)24%: Income over $100,525 ($201,050 for joint filers)32%: Income over $191,950 ($383,900 for joint filers)35%: Income over $243,725 ($487,450 for joint filers)37%: Income over $609,350 ($731,200 for joint filers). Taxable income, remember, is your gross income minus the various tax breaks for which you’re eligible.

Persons: Alex Durante, ”, Robert McClelland Organizations: New, New York CNN, IRS, The Tax, Tax, Center Locations: New York

☆ Foreign exchange funds double average returns due to the biggest divergence in central bank rates since 2008
▼ + stars: | 2023-11-08 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

Foreign exchange funds are headed for an annual return of around 7%, according to Bloomberg. AdvertisementAdvertisementCurrency investors are seeing big returns this year as differences in interest rates across the top 10 global economies are at their widest since 2008. Foreign exchange funds are looking at an annual return of around 7%, according to data from BarclayHedge cited by Bloomberg. Currency carry trades are one of the most popular trades in the foreign exchange market, but they have been quaking as returns have become harder to maintain. Many foreign exchange funds have closed over the years, unable to defend paltry growth.

Persons: — Organizations: Bloomberg, Service, Nomura's Group, US Federal, Bank of Japan

☆ Automakers Delay Electric Vehicle Spending as Demand Slows
▼ + stars: | 2023-11-07 | by ( Jack Ewing | More About Jack Ewing | ) www.nytimes.com time to read: +1 min

But when the number of electric vehicles sold in the United States grew that much during the third quarter from a year earlier, it was a disappointment. Instead of celebrating, auto executives worried that demand for electric vehicles was slackening, raising questions about their plans to invest tens of billions of dollars to develop new models and build factories. In recent weeks, General Motors, Ford Motor and Tesla cited slower sales and signs that the economy was weakening in announcing that they would delay that spending. future is as strong as ever,” Mary T. Barra, the chief executive of G.M., told analysts on a conference call last month. is waiting several months to begin selling some new electric models, including a battery-powered incarnation of the Chevrolet Equinox sport utility vehicle.

Persons: Carmakers, Tesla, Biden, Mary T, Barra Organizations: General Motors, Ford Motor, Chevrolet Locations: United States

☆ Cross-Tabs: October 2023 Times/Siena Poll of the 2024 Battlegrounds
▼ + stars: | 2023-11-06 | by ( ) www.nytimes.com time to read: +19 min

[READ LIST]Thinking about the investigations into Donald Trump, do you think that Donald Trump has or has not committed any serious federal crimes? (Split 2) Do you think Donald Trump has the mental sharpness to be an effective president? (Split 2) Do you think Donald Trump has the personality and temperament to be an effective president? (Split 2) Do you think Joe Biden has the personality and temperament to be an effective president? [READ LIST]Do you think Donald Trump is good for democracy, bad for democracy, or neither good nor bad for democracy?

Persons: †, Donald Trump, Joe Biden, Donald Trump's, Tell, Donald Trump’s, Joe Biden’s, Trump, Biden, Fielding, ReconMR Organizations: Pennsylvania, Wisconsin Party, Siena College Research Institute, Republican, Trump, Democratic, Democrat, New York Times, The New York Times, statehouse, Research, University of North, Institute for Policy, Roanoke College, The Times, • Party, Times Locations: Arizona, Georgia, Michigan, Nevada, Dominican, Puerto Rican, American, Ukraine, China, America, U.S, Mexico, United States, Siena, Arizona , Georgia, Nevada , Pennsylvania, Wisconsin, Arizona , Michigan, Pennsylvania, University of North Florida, State

The world's biggest offshore wind farm company on Tuesday said it would cease all development on the Ocean Wind projects even as it moves forward with developments off neighboring New York, triggering an angry response from New Jersey Governor Phil Murphy. "People did not anticipate (Orsted) backing out of Ocean Wind," said Timothy Fox, VP at research firm ClearView Energy Partners. Nipper told analysts that unlike Ocean Wind, Orsted is still pursuing Sunrise for several reasons, including the fact that the company has already lined up a vessel to build it. Under the most accelerated proposal, the New York State Energy Research & Development Authority said it could release the next offshore wind request for proposals in late November or early December. The Ocean Wind cancellation was the latest setback for the nascent U.S. offshore wind industry in recent months, which U.S. President Joe Biden and several states have counted on to fight global warming.

Persons: Phil Murphy, Timothy Fox, Mads Nipper, Nipper, Orsted, Joe Biden, Murphy, Scott DiSavino, Jarrett Renshaw, Nichola Groom, Bill Berkrot Organizations: ClearView Energy Partners, Sunrise, New York State Energy Research, Development Authority, Analysts, BP, U.S, Thomson Locations: New Jersey, New York, U.S, Massachusetts, Connecticut, Culver City , California

☆ UK officials close antitrust probes into Amazon’s and Meta’s retail platforms
▼ + stars: | 2023-11-03 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —The United Kingdom’s competition watchdog has wrapped up its antitrust investigations into Amazon’s and Meta’s retail platforms, saying it has secured commitments from the US tech giants that will ultimately benefit consumers. In theory, the more businesses are able to fairly compete for consumers’ cash, the more choice consumers ultimately have. Meta’s competitors will have the option to “opt out” of the tech firm using some of their data to improve Facebook Marketplace, the CMA said. That commitment, along with others, means Meta “cannot exploit advertising customers’ data to give itself an unfair advantage — and as such distort competition,” Pope said. A spokesperson for Meta told CNN it welcomed the CMA’s decision to close its investigation into Facebook Marketplace.

Persons: Ann Pope, ” Pope, Meta Organizations: London CNN, Markets Authority, CMA, Amazon, Facebook, CNN, Meta, Global, Big Tech, US Federal Trade Commission, European Union

☆ JPMorgan CEO Jamie Dimon says he suspects the Fed isn't done with interest-rate hikes, just hours after Powell hit pause again
▼ + stars: | 2023-11-02 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

JPMorgan Chase CEO Jamie Dimon suspects the Fed may not be done hiking rates, per Yahoo. On Wednesday, the Fed said it would hold federal funds at rates steady in the 5.25% to 5.5% range. Dimon said the Fed may still hike rates by 0.25 percentage point to 0.75 percentage point. "I think they're right to pause here and see what happens," Dimon told Yahoo Finance Live just hours after the central bank's decision. On Wednesday, the Fed said it would hold the federal funds rate steady in the 5.25% to 5.5% range.

Persons: Jamie Dimon, Dimon, —, JPMorgan Chase Organizations: JPMorgan, Yahoo, Service, Federal Reserve, Yahoo Finance, Fed

☆ UK household wealth has tanked and it's a sign of what could happen in the US
▼ + stars: | 2023-11-01 | by ( Cork Gaines | ) www.businessinsider.com time to read: +7 min

UK's household wealth dropped due to rising interest rates, with regions like Scotland hit hardest. The US faces a similar risk with many Americans' wealth tied up in home equity and retirement accounts. Decline in UK household wealth since the start of 2022. Scotland, Wales, and the North of England had the biggest drops of 24% to 26% in total household wealth. Similar factors are seen in the USThe factors leading to declining household wealth in the UK cast a long shadow over the US.

Persons: —, Jeremy Grantham, Grantham, Daniel Bustamante, boomers Organizations: Service, Bank of England, Foundation, Federal Reserve's Survey, Consumer Finances, Treasury, Brigade, Bustamante, Co Locations: Scotland, Wales, England, East, North

☆ Design revealed for space toilet with a view
▼ + stars: | 2023-10-31 | by ( Francesca Street | ) edition.cnn.com time to read: +4 min

CNN —A restroom with an out-of-this-world view could be the surprise highlight for travelers adventuring with space tourism start-up Space Perspective. “Why not have a loo with a view?” Jane Poynter, Space Perspective“That’s why the toilet seat itself has a cushion, so you can sit there,” adds Poynter. And trips to the “edge of space” – like those proposed by Space Perspective and Zephalto – are different again. Space Perspective hopes to start transporting groups of up to eight passengers on flights by the end of 2024. Space Perspective intends to start tests fights imminently.

Persons: Jane Poynter, Poynter, ” Poynter, Dan, Isabella Trani, It’s, there’s, ” Jane Poynter, ”, Poynter –, Dennis Tito Organizations: CNN, CNN Travel, SpaceX, Virgin Galactic, Michelin, Space, US Federal Aviation Administration, FAA, US Coast Guard, “ Locations: Florida, British

(AP) — A federal judge has postponed sentencing for six former Mississippi law enforcement officers who pleaded guilty to a long list of federal charges for torturing two Black men in January. Lee has not yet rescheduled the sentencing hearing, but some of the former officers requested it be delayed until Dec. 15. The men admitted in August to subjecting Michael Corey Jenkins and Eddie Terrell Parker to numerous acts of racially motivated, violent torture. Political Cartoons View All 1227 ImagesThe officers taunted the men with racial slurs and poured milk, alcohol and chocolate syrup over their faces. “Michael Jenkins and Eddie Parker are urging that the sentencing for the ‘Goon Squad’ members ... take place as quickly as possible," Shabazz said.

Persons: JACKSON, Tom Lee, Lee, Michael Corey Jenkins, Eddie Terrell Parker, Jenkins, Parker, Brett McAlpin, Hunter Elward, Christian Dedmon, Jeffrey Middleton, Daniel Opdyke, Joshua Hartfield, Malik Shabazz, “ Michael Jenkins, Eddie Parker, Shabazz, Michael Jenkins, ___ Michael Goldberg Organizations: —, District, Rankin County, Associated Press, ” Prosecutors, America Statehouse News Initiative, America Locations: MISS, Mississippi, U.S, Braxton, Rankin, Richland, @mikergoldberg

☆ Sam Bankman-Fried blames top lieutenants for FTX troubles in second day of testimony in criminal trial
▼ + stars: | 2023-10-30 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +10 min

The market had already dropped 70% and if it fell another 50%, he was afraid the firm would be insolvent, Bankman-Fried told the jury. In describing the swift downfall of FTX, Bankman-Fried said that customer withdrawals had quickly increased from $50 million a day to $1 billion a day. For example, Sassoon asked Bankman-Fried if he assured people that Alameda played by the same rules as others on the FTX exchange. Sassoon asked Bankman Fried, "Would you agree you know how to tell a good story?" Sassoon asked.

Persons: Sam Bankman, Fried, Kyle Mazza, FTX, Mark Cohen, Caroline Ellison, Ellison, Gary Wang, Nishad Singh, Singh, Sun, Jane Rosenberg, Renato Mariotti, Bryan Cave Leighton Paisner, Mariotti, Danielle Sassoon, I'm, Sassoon, Bankman, Crypto, wasn't, Bankman Fried, Vox, he's, Alameda, —, Dawn Giel Organizations: Court, Anadolu Agency, Getty, Alameda Research, Alameda, Bloomberg, Apollo, Reuters, U.S . Justice Department's Securities, Commodities, CNBC, U.S, PR Locations: New York City, Alameda, New York, U.S, Chicago

☆ Biden to deploy federal agencies to monitor the risks of AI - Politico
▼ + stars: | 2023-10-28 | by ( ) www.reuters.com time to read: 1 min

AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration//File Photo Acquire Licensing RightsWASHINGTON, Oct 27 (Reuters) - U.S. President Joe Biden will issue an artificial intelligence executive order as soon as Monday, Politico reported on Friday. Citing a draft of the order, Politico reported that Biden will deploy numerous federal agencies to monitor the risks of artificial intelligence and develop new uses for the technology while attempting to protect workers. Reporting by Jasper Ward; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Joe Biden, Biden, Jasper Ward, Sandra Maler Organizations: REUTERS, Rights, Politico, Thomson

The New York Republican was scheduled to appear at a courthouse on Long Island to enter a plea to the new allegations. Santos has been free on bail while he awaits trial. He has denied any serious wrongdoing and blamed irregularities in his government regulatory filings on his former campaign treasurer, Nancy Marks, who he claims “went rogue.”Marks in turn has implicated Santos. Santos has continued to represent his New York district in Congress since he was charged, rejecting calls for his resignation from several fellow New York Republicans. During his successful 2022 run for office, Santos was buoyed by an uplifting life story that was later revealed to be rife with fabrications.

Persons: George Santos, Santos, Nancy Marks, “, ” Marks, didn't, Santos hasn't Organizations: — U.S . Rep, New York Republican, Republican, New York Republicans, U.S . House Locations: ISLIP, N.Y, New York, Congress

☆ Elon Musk’s Twitter takeover, the platform and its cultural impact have fundamentally changed
▼ + stars: | 2023-10-27 | by ( Brian Fung | Clare Duffy | ) edition.cnn.com time to read: +16 min

Here’s a (non-exhaustive) account of how Musk has fundamentally changed Twitter since he made one of the most consequential acquisitions of the social media age. Many of Musk’s content and product decisions have also led to what civil society groups have reported as a troubling spread of hateful speech on the platform. He recommended that X users monitor the Israel-Hamas conflict by following an account known for spreading disinformation, before later deleting his post. And, in an attempt to prove that former Twitter executives deliberately discriminated against conservatives on the platform, Musk provided a handpicked group of journalists with selective access to company records. It is perhaps Musk’s all-consuming presence that has most undermined what users used to love about Twitter.

Persons: New York CNN — It’s, Elon Musk, Linda Yaccarino —, Yaccarino, ” Yaccarino, —, it’s, Here’s, Musk, he’s, Donald Trump, LeBron James, James, ”, X, General Mills, ” Weeks, “ Elon, what’s, “, Paul Pelosi, Dilbert, Scott Adams, George Soros, Joe Biden’s, Ron DeSantis ’, Robert F, Kennedy, Jr, Tucker Carlson, Vivek Ramaswamy, Benjamin Netanyahu, Hunter Biden Organizations: New, New York CNN, Elon, Twitter, US Federal Trade Commission, Securities, Exchange Commission, EU, Premium, Nintendo, NPR, PBS, Volkswagen, —, Center, Defamation League, Wall Street, Florida Republican Gov, Fox, New York, Trump Locations: New York, Israel, United States, breakeven, New

☆ Sam Bankman-Fried set to take the stand in his fraud trial
▼ + stars: | 2023-10-26 | by ( Cnn'S Allison Morrow | Nicole Goodkind | ) edition.cnn.com time to read: +1 min

FTX founder Sam Bankman-Fried attends as FBI agent Marc Troiano testifies as Bankman-Fried faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, at federal court in New York City, today. Jane Rosenberg/ReutersMost days, Sam Bankman-Fried gets up around 4 am to prep for his defense. Breakfast at the Metropolitan Detention Center in Brooklyn, where he’s been held since August, is served at 6 am. Bankman-Fried is also “friendly” with Genaro García Luna, the former head of Mexico’s FBI, who is awaiting sentencing for drug trafficking, this person said. When his trial began earlier this month, observers quickly noted changes to Bankman-Fried’s appearance.

Persons: Sam Bankman, Fried, Marc Troiano, Jane Rosenberg, he’s, Genaro García Luna Organizations: Metropolitan Detention, Southern, of, MDC, CNN, FBI Locations: New York City, Brooklyn, of New York, Honduras

☆ Deutsche Bank shares surge as it promises more cash for investors
▼ + stars: | 2023-10-25 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Shares in Deutsche Bank surged nearly 7% Wednesday after it said strong earnings meant it could pay out more cash to shareholders over the next two years than previously anticipated. The bank said it expected to buy back more of its shares — a move which typically juices a company’s stock price — next year. It marks a striking turnaround for the bank following years of scandal, mass layoffs and regulatory fines that have weighed on its reputation, and its stock price. Shares have nearly doubled since hitting a record low in March 2020 but have still cratered 67% over the past decade. The Fed found that Deutsche Bank had made insufficient progress since 2018 to tighten its anti-money laundering controls, among other failures.

Persons: “ Organizations: London CNN —, Deutsche Bank, DB, ”, US Federal Reserve Locations: €

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