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☆ ILA union and port owners held secret meeting on automation as new strike looms
▼ + stars: | 2025-01-06 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

A document produced out of the meeting indicates a focus on the creation of new human jobs to complement any new port technology. said a terminal operator. "These extra jobs are paid by increasing the price of services paid by the shipper," the terminal operator said. It remains unclear if the full USMX bargaining team will agree to document language on automation or risk another strike. "All of these decisions are controlled by the Daggett's in the end," said the terminal operator.

Persons: Paul Demaria, Kevin Price, Joe Ruddy, John Atkins, Anthony Ray, Harold Daggett, Dennis, Virgil Moldonado, Donald Trump, John Organizations: Norfolk International, NIT, International Longshoremen's Association, United States Maritime Alliance, CNBC, dockworkers, Gateway, GCT, Maher, ILA, NY Locations: Port of Virginia, Bayonne , New Jersey, of New York, New Jersey

☆ Former FTX executive Ryan Salame has prison release date moved up by more than a year
▼ + stars: | 2024-12-26 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +4 min

Ryan Salame, an ex-FTX executive, appears to have had time shaved off his scheduled release from prison. Federal prison records show Salame is scheduled to be released in March 2031. AdvertisementAnd it appears that Salame — who was in the inner circle of Bankman-Fried, the disgraced crypto tycoon and FTX founder — has already had his prison release date moved up by more than a year. Salame began his prison sentence at Maryland's medium-security Federal Correctional Institution in Cumberland on October 11. As BI recently reported, it appears Ellison also had some time shaved from her scheduled release from prison.

Persons: Ryan Salame, Salame, Sam Bankman, Salame —, —, FDM, Caroline Ellison, Bankman, Ellison, Fried Organizations: Correctional Institution, Federal, of Prisons, Business, Maryland lockup, LinkedIn, FCI Cumberland, Research, BI, Metropolitan Detention Locations: Cumberland, Bankman, Brooklyn

☆ FTX executives shave time off their sentences
▼ + stars: | 2024-12-26 | by ( David Goldman | ) edition.cnn.com time to read: +2 min

CNN —Ryan Salame and Caroline Ellison, FTX executives convicted for their roles in the notorious crypto fraud led by their former boss Sam Bankman-Fried, have both shaved time off their lengthy prison sentences. Salame, a former top executive of FTX, the now-bankrupt cryptocurrency trading platform, pleaded guilty to criminal fraud charges in September 2023, and was sentenced in May to 7 1/2 years in federal prison. But the Federal Bureau of Prisons currently lists his release date as March 1, 2031, more than a year earlier than his initial release date in April 2032. Business Insider first reported Salame’s new release date. Her current release date is listed as July 20, 2025, three months earlier than her initial release date. Bankman-Fried, who was sentenced to 25 years in prison, does not have a release date listed on the prisons website.

Persons: CNN — Ryan Salame, Caroline Ellison, Sam Bankman, Ellison, Bankman, Prisons didn’t, FTX, endorsers Organizations: CNN, FTX, Federal Bureau of Prisons, Business, Alameda Research, Prisons, Major League Baseball Locations: Alameda, Miami

☆ FTX scammer Caroline Ellison has already had nearly 4 months shaved from her scheduled release from prison
▼ + stars: | 2024-11-29 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +4 min

AdvertisementCaroline Ellison appears to have had her scheduled prison release date moved up. And it appears that Ellison — the ex-girlfriend of Bankman-Fried, the FTX and Alameda Research founder — has already had her release date moved up. Federal Bureau of Prisons records viewed by Business Insider this week show Ellison's prison release date as scheduled for July 20, 2026 — which is more than three months short of two years. But you're not inviolable," Kaplan told Ellison at the time. "On some level, my brain doesn't even comprehend all the people I harmed," Ellison told the court.

Persons: Caroline Ellison, Sam Bankman, Ellison —, —, Ellison, Lewis Kaplan, couldn't, scot, Kaplan, Fried, Bankman, Sean, Diddy, Combs Organizations: Alameda Research, Correctional Institution, Federal Bureau of Prisons, Business, of Prisons, Metropolitan Detention Locations: Danbury, Connecticut, Bankman, Brooklyn

☆ Here are 4 things we're watching closely in the stock market this week
▼ + stars: | 2024-08-04 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Stocks had a rough week, topped off with a pummeling Friday after the July jobs data came in weaker than expected. Until then, bad economic news was good news for the stock market, because it meant the Federal Reserve would start cutting interest rates sooner. On Thursday, a drop in U.S. manufacturing activity for July and a jump in initial jobless claims dragged down the market. Next week is light on economic data, so expect earnings reports and CEO commentaries to drive the market action. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Dow Jones, Jim Cramer, would've, Eli Lilly, Mounjaro, Berkshire Hathaway, Krystal, Tyson, BAX, Owens, Walt, Oscar Health, CRON, Krispy, Papa, Jim Cramer's, Jim Organizations: Nasdaq, Dow, Reserve, Broadcom, Devices, Palo Alto, PMI, Wynn Resorts, Investors, Wynn, Wynn Palace, U.S . Disney, Management, and Drug Administration, Carlyle Group, Krystal Biotech, Tyson Foods, TSN, Alpha Metallurgical Resources, BioCryst Pharmaceuticals, Axsome Therapeutics, Technologies, Clover Health, Realty Income Corp, Avis Budget Group, CSX Corp, CSX, Simon Property Group, Sterling Construction Company, Teradata Corp, Yum China Holdings, ZoomInfo Technologies, Holdings, Caterpillar, Baxter International, Vulcan Materials Company, Allegheny Technologies Incorporated, Constellation Energy Group, Marathon Petroleum Corp, Owens Corning Inc, Duke Energy Corp, GXO Logistics, Brands, Builders, Wynn Resorts Ltd, WYNN, Rivian Automotive, Devon Energy Corp, GigaCloud Technology Inc, Lumen Technologies, VF Corp, Walt Disney Co, Novo Nordisk, CVS Health, Aurora Cannabis Inc, Emerson Electric Co, Sony Group Corporation, SONY, Inc, ODP Corporation, Icahn Enterprises, MannKind Corp, ACM Research, Brink's Company, AppLovin Corporation, Digital Turbine, Sarepta Therapeutics, Occidental Petroleum Corp, Bros, SolarEdge Technologies, Aspen, Coeur D'Alene Mines Corp, Co, Vistra Energy, Cheniere Energy, Cronos, Himax Technologies, Properties Trust, Papa John's, Paramount Global, Trade, Lab, B2Gold Corp, Honest Company, Gilead Sciences, Growth, Nikola Corporation, Embraer, New Fortress Energy, Construction, Jim Cramer's Charitable, CNBC, Disney, Pixar Locations: Palo, Macau, Las Vegas, Boston, Vegas, Wynn Macau, China, Novo, Coeur, Gilead

☆ Elizabeth Holmes shaves more time off her sentence
▼ + stars: | 2024-05-07 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Disgraced former Theranos CEO Elizabeth Holmes could be out of prison several months earlier than expected, according to the projected release date posted by the Bureau of Prisons. The Bureau of Prisons’ online database currently shows that Holmes’ expected release date from a Texas prison is August 16, 2032 — a slight reduction from her previous release date of December 29, 2032. It’s her second reduction in less than a year: She previously had her 11-year-and-three-month sentence by about two years last July. These factors that go into calculating an estimated release date are not unique to Holmes’ case, but standard for inmates, a bureau spokesman previously told CNN. Holmes is currently serving out her sentence at Federal Prison Camp Bryan, a minimum security federal prison camp that is approximately 100 miles from Houston.

Persons: New York CNN —, Elizabeth Holmes, Holmes, It’s, Prisons didn’t, Theranos, –, Catherine Thorbecke Organizations: New, New York CNN, Bureau of Prisons, Prisons, CNN, Federal Prison, Street Locations: New York, Texas, Houston, Silicon Valley

☆ Earnings will drive the market next week — what we expect from 2 portfolio stocks
▼ + stars: | 2024-05-04 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

With the Fed, Apple earnings and the jobs report passing with flying colors this week, the runway to more gains looks a lot less cluttered. This past week was chock full of Club earnings: 12 portfolio companies, including Apple , delivered results. Analysts expect Wynn's earnings per share of $1.27 versus 29 cents a year ago when China was not fully back from Covid. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jerome Powell, we're, Jim Cramer, Jim, Apple, Eli Lilly, Estee Lauder, Stanley Black, Decker, Bausch, FactSet, It's, Bob Iger, Iger, Nelson Peltz, We're, Krystal, Berkshire Hathaway, Tyson, Jones Lang, Walt, Ferrari N.V, WK Kellogg, Wynn, Vishay, CRON, MARA, RICK, Ginkgo, Jim Cramer's, David Paul Morris Organizations: Federal Reserve, Apple, GE Healthcare, DuPont, Linde, Bausch Health, Coterra Energy, Club, Disney, Wynn Resorts, CNBC, Revenue, Vegas Sands, Cotai, Boston, Airlines, Krystal Biotech, Alpha Metallurgical Resources, Axsome Therapeutics, Tyson Foods, TSN, Bowlero Corp, CNA Financial Corp, CNA, Jones Lang LaSalle Incorporated, Technologies, Realty Income Corp, Lab, Teradata Corp, Technology, FMC Corporation, FMC, Paymentus Holdings, Shockwave, Vertex Pharmaceuticals, Goodyear Tire & Rubber Company, Simon Property Group, Sterling Construction Company, Apple Hospitality, Boise Cascade Corporation, BellRing Brands, Coty, COTY, Fidelity National Information Services Inc, Vornado Realty, Walt Disney Co, Holdings, Madrigal Pharmaceuticals, Nikola Corporation, BP, Rockwell Automation, MarketAxess Holdings, Jumia Technologies, GEO Group, Builders FirstSource Inc, Duke Energy Corp, WYNN, Rivian Automotive, Arista Networks, Occidental Petroleum Corp, Astera Labs, Bros, Flywire Corporation, B2Gold Corp, Kinross Gold Corp, Virgin Galactic Holdings, iRobot Corp, Electronic Arts Inc, McKesson Corp, ACM Research, Avadel Pharmaceuticals, Toyota Motor Corp, Emerson Electric Co, Perion, Editas, Brink's Company, Sinclair Corporation, New Fortress Energy, Starwood Property Trust, Animal Health, ELAN, Farms, IM Cannabis Corp, Fox Corporation, Formula One, Icahn Enterprises, Teva Pharmaceutical Industries, Arm Holdings plc, ARM, AMC Entertainment Holdings, Trade, AppLovin Corporation, Sciences Corp, SolarEdge Technologies, Roblox Corporation, GigaCloud Technology Inc, Warner Bros ., Properties Trust, Growers, Constellation Energy Group, Cronos, Fiverr, Solar Inc, EPAM Systems, Cedar Fair Entertainment, Digital Holdings, RCI Hospitality Holdings, Akamai Technologies, Semiconductor, Insulet Corp, NuScale Power Corporation, Ginkgo Bioworks Holdings, Bloom Energy Corporation, Construction, AMC Networks, CRH Public Ltd . Company, Jim Cramer's Charitable, Allen, Co . Media, Technology Conference, Bloomberg, Getty Locations: China, Eaton, Amazon, Covid, Macao, Vegas, Sun Valley , Idaho

☆ Elizabeth Holmes could be released from prison two years earlier than expected
▼ + stars: | 2023-07-11 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

CNN —Disgraced former Theranos CEO Elizabeth Holmes could be out of prison nearly two years earlier than expected, according to the projected release date posted by the Bureau of Prisons. The Bureau of Prisons online database now reports, however, that Holmes’ expected release date is December 29, 2032 – which would take roughly two years off of her full sentence. The discrepancy appears to be due to how the Bureau of Prisons calculates its estimated release date. These factors that go into calculating an estimated release date are not unique to Holmes’ case, but standard for inmates. Holmes is currently serving out her sentence at Federal Prison Camp Bryan, a minimum security federal prison camp that is approximately 100 miles from Houston.

Persons: CNN —, Elizabeth Holmes, Holmes, Theranos Organizations: CNN, Bureau of Prisons, Prisons, Federal Prison, Street Locations: Texas, Houston, Silicon Valley

☆ Port of New York shatters trade record, but latest shipping data hints at California comeback
▼ + stars: | 2023-01-25 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Containers sit at the GCT New York container terminal on Staten Island on October 20, 2022, in New York City. The Port of Long Beach moved 9.13 million TEUs last year. "These 9.5 million TEUs is more than 27% of 2019 levels," said Bethann Rooney, port director of the Port of New York and New Jersey. "This is not sustainable if we are going to handle 14 million TEUs in the not too distant future," she said. If they have stability on the West Coast, it doesn't really make sense to spend the extra two weeks crossing to go to the East Coast.

☆ France contends with widespread strikes as unions take to streets against pension reform
▼ + stars: | 2023-01-19 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +4 min

French unions and demonstrators have taken to the streets on Thursday in widespread industrial action against the government's projected pension reforms. The pension reform is "just and responsible" and must be carried out, Macron said Thursday, according to Reuters. The organizations will convene Thursday evening to determine convening further industrial action. Rail operator SNCF warned train travel will be "severely disrupted" by industrial action between 7 p.m. local time on 18 Jan. and 8 a.m. on Friday. He reiterated his objections to the reform plan and stressed the syndicates' willingness to continue strikes beyond the first day of industrial action, "It is a first day, therefore, we will have others."

French container line CMA CGM sees the ownership of cargo terminals at U.S. ports as the next step in its bid to extend its shipping business into greater inland logistics. “Port terminals are an essential piece of the supply-chain efficiency, being at the crossroads of sea and land operations,” said Christine Cabau Woehrel, CMA CGM Group’s executive vice president of operations and assets. CMA CGM earned $17.9 billion in net profits in 2021 and its earnings in the first three quarters of this year reached more than $20.4 billion. The purchases come as CMA CGM is spending billions to buy logistics operations and more recently launch an airfreight service. China’s Cosco Shipping Ports has expanded its terminal operations around the world in concert with expansion by state-owned Cosco Shipping Lines.

☆ France's CMA CGM to buy New York, New Jersey terminals from Canada's GCT
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

Dec 6 (Reuters) - CMA CGM, one of the world's largest container shipping lines, said on Tuesday that it has agreed to acquire two container terminals at the port of New York and New Jersey from Global Container Terminals (GCT), which will extend its presence in a crucial hub for trade. According to Bloomberg, which first reported the news, the deal could fetch around $3 billion. In a statement, CMA CGM said acquired ports in Staten Island, New York, and Bayonne, New Jersey, have a combined capacity of 2 million twenty-foot-equivalent units per year, and has a potential for further expansion, up to almost double capacity. Like its shipping rivals, CMA CGM has extended its presence along the logistics chain in port infrastructure and non-maritime transport services. Reporting by Kanjyik Ghosh and Akriti Sharma in Bengaluru; Editing by Christian Schmollinger and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

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