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☆ Mark Cuban mocks Trump for going even further than Bernie Sanders on capping credit card interest rates
▼ + stars: | 2024-09-24 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

Read previewBillionaire investor Mark Cuban on Tuesday teed off on Donald Trump's proposal to cap credit card interest rates at 10% and the former president's broader economic agenda. is the 10% price cap on credit card interest rates," Cuban said during a press call hosted by Vice President Kamala Harris' campaign. AdvertisementDuring a rally last week in New York, Trump floated the idea of temporarily capping credit card interest rates at "around 10%." AdvertisementExperts have said credit card companies would likely respond to an interest cap by making it harder for some people to access credit. The interest rates Americans pay on that debt are also higher now than they were before the COVID-19 pandemic.

Persons: —, Mark Cuban, Donald Trump's, Kamala Harris, Harris, I've, it's, Donald Trump, Trump, Sen, Bernie Sanders, Alexandria Ocasio, Cortez, Donald, Steven Cheung, Josh Hawley, Messrs, Sanders, Matt Schulz, Karoline Leavitt Organizations: Service, Business, Cuban, Rep, Trump, Republican, CNN, Financial, New York Federal Reserve Locations: Savannah , Georgia, New York, Alexandria, Cortez of New York, Cuban, Josh Hawley of Missouri

☆ Trump Media payday: What Truth Social executives got paid in stock and compensation
▼ + stars: | 2024-04-08 | by ( Dan Mangan | ) www.cnbc.com time to read: +12 min

Those thresholds for the share price are well below where Trump Media stock was trading on Monday, when it closed at $37.17, down more than 8%. The filing disclosed that Trump Media awarded company stock to Nunes, chief financial officer Phillip Juhan, and chief operating officer Andrew Northwall. The three top executives, like Trump himself, are currently barred from selling any of their common stock in Trump Media for the next six months. CNBC asked a spokeswoman for Trump Media why promissory notes were used to grant stock to the executives. Legal battlesBesides Trump, the biggest shareholders in Trump Media are two corporate entities.

Persons: Dado Ruvic, Donald Trump, Devin Nunes, Trump, Kevin Murphy, Murphy, Nunes, Phillip Juhan, Andrew Northwall, Juhan, Northwall, DWAC, we've, Tom Williams, Kash Patel, Patel, Dan Scavino, Scavino, Department of Defense Kash Patel, Justin Sullivan, Sandro De Moraes, Vladimir Novachki, Scott Glabe, Novachki, Glabe, De Moraes, Eric Swider, beneficially, Renatus, Swider, Andy Litinsky, Wes Moss, Moss, Patrick Orlando, Mike Pont Organizations: Trump Media, Trump . Trump Media, Nasdaq, Corp, Trump, University of Southern, Securities and Exchange Commission, DWAC, SEC, CNBC, Partners, Northwall, Juhan, Trump Media's, U.S, Capitol, CQ, Inc, Getty, Equity, Messrs, Republican, Hudson Digital, Trump White House, Staff, Department of Defense, Digital, Renatus, ARC Global, United Atlantic Ventures, Twitter, Facebook, NBC, FilmMagic Locations: Juhan, California, Minden, Minden , Nevada, Orlando, New York City

☆ ‘Ripley’ review: Andrew Scott stars in a very slow-burn Netflix series based on the Tom Ripley books
▼ + stars: | 2024-04-04 | by ( Brian Lowry | ) edition.cnn.com time to read: +3 min

CNN —Moving slowly, indeed almost hypnotically, “Ripley” takes a few episodes to kick in, but once it does there’s no turning back. Set in the early 1960s, the format provides the latitude to luxuriate in uncomfortable moments and build palpable tension around situations in Patricia Highsmith’s books, a sensation that becomes more intense once it’s demonstrated how ruthless Scott’s Tom Ripley can be. Living an idyllic life with his girlfriend Marge (Dakota Fanning), Dickie resists the notion but foolishly invites Tom into his orbit. Marge might be suspicious of Tom’s motivations, but he quickly wins over Dickie despite his occasionally strange behavior. If they do, give the credit, primarily, to the talented Messrs. Zaillian and Scott.

Persons: “ Ripley ”, Ripley ”, Andrew Scott, “, Matt Damon, Steven Zaillian, ” “ Ripley ”, Patricia Highsmith’s, Tom Ripley, Ripley, Dickie Greenleaf, Johnny Flynn, Marge, Dakota Fanning, Dickie, Scott, Maurizio Lombardi, Ravini, ”, “ Ripley, –, it’s, deceptions, Zaillian Organizations: CNN, New Yorker, Netflix Locations: Italy, Ripley, Flitting

☆ DeSantis vs. Newsom: a Scorecard
▼ + stars: | 2023-11-29 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Journal Editorial Report: Despite denials, the California governor is acting like a candidate. Images: AP/Composite: Mark KellyGavin Newsom and Ron DeSantis are set to square off Thursday evening in a Fox News debate, and it should be instructive. Sacramento has rushed to the left in recent decades while Tallahassee has moved to the right. Since winning election in 2018, Messrs. Newsom and DeSantis have advanced sharply different policies on Covid lockdowns, taxes, school choice and climate regulation, among other things. In case you’ll be keeping track at home, here is a scorecard of policy results.

Persons: Mark Kelly Gavin Newsom, Ron DeSantis, Joe Biden, Donald Trump, Newsom, DeSantis Organizations: Fox, Messrs Locations: California, Florida, Sacramento, Tallahassee

☆ Hunter Biden lawyers seek subpoenas for Trump, former AG Barr in gun case
▼ + stars: | 2023-11-15 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

Hunter Biden, son of U.S. President Joe Biden, departs federal court after a plea hearing on two misdemeanor charges of willfully failing to pay income taxes in Wilmington, Delaware, July 26, 2023. The criminal probe of Hunter that led to the pending case in Delaware federal court began in late 2018, during the Trump administration. Weiss soon afterward was appointed special counsel in the case by Attorney General Merrick Garland. The prosecutor has been criticized by Trump and his allies for the initial plea deal and for not charging Hunter with more serious crimes. Hunter's lawyers, in turn, argue that the current gun charges are barred by the diversion agreement.

Persons: Hunter Biden, Joe Biden, Donald Trump, Bill Barr, Hunter, Mr, Biden, Biden's, Trump, Barr, Jeffrey Rosen, Richard Donoghue, Rosen, Donoghue, General Donoghue, General Rosen, he's, David Weiss, Weiss, General Merrick Garland Organizations: Department of Justice, Trump, Justice Department, DOJ, Messrs, Republican, U.S, Attorney Locations: Wilmington , Delaware, Delaware

☆ Mike Pence Edges Closer to Presidential Bid as Super PAC Forms to Back Him
▼ + stars: | 2023-05-16 | by ( John Mccormick | Alex Leary | ) www.wsj.com time to read: +2 min

Aides to Mike Pence say the former vice president’s strategy in a White House run would stress Iowa, where the first nominating contest will be held next year. Photo: Michael Palmer/Zuma PressFormer Vice President Mike Pence is taking more concrete steps toward running for the 2024 Republican presidential nomination, including supporting the launch of a super PAC to back a potential bid that he has said he would decide on by late June. “People know Mike Pence, they just don’t know him well,” Mr. Reed said. An April Wall Street Journal poll put Mr. Pence at 1% in a hypothetical GOP primary field that included a dozen candidates. Mr. Pence, who was a radio talk-show host before being elected to Congress and later Indiana’s governor, has hawkish foreign-policy views that are at odds with some segments of the GOP.

☆ House Leaders Call for Release of Evan Gershkovich, Paul Whelan
▼ + stars: | 2023-05-04 | by ( Eric Bazail-Eimil | ) www.wsj.com time to read: 1 min

Wall Street Journal reporter Evan Gershkovich was detained in Russia on March 29 while on a reporting trip and accused of spying. Here’s a breakdown of the events surrounding his arrest and what comes next. Illustration: Todd JohnsonDemocratic and Republican leaders in the House of Representatives condemned Russia’s detention of journalist Evan Gershkovich and businessman Paul Whelan , calling for the prompt release of the two Americans. “We strongly condemn Russia’s ongoing and illegal detention of journalist Evan Gershkovich and call for his immediate release,” House Speaker Kevin McCarthy (R., Calif.) and House Minority Leader Hakeem Jeffries (D., N.Y.) said Thursday in a joint statement . Messrs. McCarthy and Jeffries called the charges against Mr. Gershkovich “manufactured.”

☆ The Tennessee Bullhorn Isn’t Democracy
▼ + stars: | 2023-04-21 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Addressing the NYSE, House Speaker Kevin McCarthy rejected President Biden's push for further debt, outlining a 3-point fiscal path that 'limits, saves and grows.' Images: Bloomberg News Composite: Mark KellyDemocrats are free to argue that the Tennessee House went too far this month when it expelled Reps. Justin Jones and Justin Pearson for disrupting the chamber’s business. Yet it’s astounding to see prominent Democrats now justifying and outright endorsing the pair’s tactic of derailing legislative proceedings with a bullhorn to demand gun control. Next week President Biden will roll out the White House red carpet for Messrs. Jones and Pearson, along with Rep. Gloria Johnson , who participated in the disruption to a lesser extent, and who was narrowly spared expulsion.

☆ China Sentences Human-Rights Activists to Prison for Subversion
▼ + stars: | 2023-04-10 | by ( Keith Zhai | Sha Hua | ) www.wsj.com time to read: 1 min

In sentencing Xu Zhiyong, left, and Ding Jiaxi, the Chinese government is silencing two of the most influential critics of its approach to law. SINGAPORE—A Chinese court sentenced two of the country’s most prominent human-rights activists to prison terms of more than a decade each for subversion, slamming the door on an era of activism that briefly carved out space for liberal values in the authoritarian country. Xu Zhiyong was sentenced to 14 years in prison and fellow lawyer Ding Jiaxi was sentenced to 12 years on Monday by the Linshu County Court in eastern China’s Shandong province, said Mr. Ding’s wife, Luo Shengchun, citing information from their lawyers. Messrs. Xu and Ding had earlier been found guilty in a secret trial in Linshu in June, she said.

☆ Bernard Newcomb, Blind Software Engineer, Helped Launch E*Trade
▼ + stars: | 2023-04-09 | by ( James R. Hagerty | ) www.wsj.com time to read: 1 min

Bing Newcomb was mostly self-tauhgt as a software engineer. In the early 1980s, William A. Porter had an outlandish idea: People should be able to trade stocks via their home computers. For software expertise, he turned to Bernard Newcomb, a legally blind programmer who grew up in the small town of Scio, Ore. In 1982, Messrs. Porter and Newcomb founded Trade Plus Inc., a Palo Alto , Calif.-based firm that evolved into E*Trade, a pioneer in electronic trading that is now part of Morgan Stanley.

☆ Many Startups Operate Without a CFO. That Was a Challenge as SVB Collapsed
▼ + stars: | 2023-03-29 | by ( Anna Mutoh | ) www.wsj.com time to read: +1 min

Silicon Valley Bank marketed itself to startups, which may have leaned more heavily on it for financial guidance in the absence of an in-house chief financial officer. When Kevin Lee on the morning of March 9 first heard that Silicon Valley Bank could be in trouble, the 32-year-old co-founder of Immi instant ramen frantically called his partner. “I’m concerned there will be a bank run,” Mr. Lee said he told Kevin Chanthasiriphan , 34, who soon after wired their entire $15 million in capital out of SVB and into fintech provider Brex Inc. where they also had a business account. Messrs. Lee and Chanthasiriphan, who call themselves the “the Kevins,” launched Immi three years ago, reinventing ramen as a low-carb, high-protein and fully plant-based instant food. Just a week before the run on SVB, the Kevins announced a $10 million series A funding that included a bevy of celebrity investors such as tennis player Naomi Osaka , R&B singer Usher and speedskater Apolo Ohno , and were poised for a period of rapid growth with revenue up sixfold last year.

☆ Lyft’s New Boss Quickly Loses His Signing Bonus
▼ + stars: | 2023-03-28 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Lyft’s past two quarterly reports have disappointed investors and sparked major stock selloffs. David Risher helped an online bookseller figure out how to also move DVDs, toys, stereos and garden supplies. Lyft announced late Monday that co-founders Logan Green and John Zimmer are stepping down from their respective roles as chief executive and president of the ride-sharing company to hand the wheel to Mr. Risher. The change takes place on April 17 when Mr. Risher will take over the CEO post and Messrs. Zimmer and Green become chair and vice chair of the company’s board, respectively. Mr. Risher has been serving on Lyft’s board since 2021.

☆ China’s Xi to Speak to Zelensky, Meet Next Week With Putin
▼ + stars: | 2023-03-13 | by ( Keith Zhai | ) www.wsj.com time to read: 1 min

SINGAPORE—Chinese leader Xi Jinping plans to speak with Ukrainian President Volodymyr Zelensky for the first time since the start of the Ukraine war, likely after he visits Moscow next week to meet with Russian President Vladimir Putin, according to people familiar with the matter. The meetings with Messrs. Putin and Zelensky, the latter of which is expected to take place virtually, reflect Beijing’s effort to play a more active role in mediating an end to the war in Ukraine, some of the people said.

☆ Former Freepoint Commodities Trader Charged With Bribing Brazilian Officials
▼ + stars: | 2023-02-17 | by ( Dylan Tokar | ) www.wsj.com time to read: +2 min

A former employee of U.S. oil trader Freepoint Commodities LLC and its Brazilian agent were indicted Friday for their alleged role in a scheme to bribe Brazilian officials to win contracts with the country’s state-owned oil company, Petróleo Brasileiro SA. Mr. Innecco, who acted as a broker for the firm, remains at large, the spokesman said. A lawyer for Mr. Oztemel said his client denied the allegations. Mr. Oztemel began working for Stamford, Conn.-based Freepoint around 2012. A spokeswoman for Freepoint, which wasn’t named in the indictment, said Mr. Oztemel had retired from the company more than two years ago.

Tensions over the U.S. military’s downing of a suspected Chinese spy balloon are set to culminate this weekend in Munich, where Secretary of State Antony Blinken and top Chinese diplomat Wang Yi are scheduled to attend a security conference. In recent days, the U.S. and China have been discussing setting up a meeting between Messrs. Blinken and Wang, according to people familiar with the matter. The meeting could take place at the Munich Security Conference, which runs Feb. 17-19, the people said, though they cautioned that nothing had been decided and the negotiations are fluid. Vice President Kamala Harris is set to attend and give a speech on supporting Ukraine, officials said.

☆ Brett Favre Sues Shannon Sharpe, Pat McAfee and Mississippi Auditor for Defamation
▼ + stars: | 2023-02-10 | by ( Alyssa Lukpat | ) www.wsj.com time to read: 1 min

Brett Favre and around 30 others were sued last year for allegedly misusing welfare funds. He has denied wrongdoing. Former NFL quarterback Brett Favre sued the Mississippi state auditor and two sports commentators, Shannon Sharpe and Pat McAfee , for defamation, saying they made false statements about him on TV and online shows. Mr. Favre alleged that the auditor, Shad White , and Messrs. Sharpe and McAfee made defamatory statements about him last year in connection with his ongoing welfare fraud case. The state sued him last year for allegedly misusing federal welfare aid meant for poor families.

☆ Netanyahu, Macron to Discuss Iran’s Nuclear Ambitions in Paris
▼ + stars: | 2023-02-02 | by ( Noemie Bisserbe | Shayndi Raice | ) www.wsj.com time to read: 1 min

PARIS—Israeli Prime Minister Benjamin Netanyahu is expected to meet Thursday with French President Emmanuel Macron to discuss the threat posed by Iran’s military and nuclear ambitions. During a dinnertime meeting at the Élysée Palace, Messrs. Netanyahu and Macron are also expected to talk about how to reinforce and extend the Abraham Accords—a series of deals signed by Israel and nearby Arab countries to normalize their relations—according to an Israeli official.

☆ ‘Shrinking’ Review: When a Therapist Needs Therapy
▼ + stars: | 2023-01-25 | by ( John Anderson | ) www.wsj.com time to read: +1 min

The delicate polarities that exist within the world of “Shrinking” would certainly include the close-to-antic performance of Jason Segel vs. that of a dryly hilarious Harrison Ford. And the comic dynamic between the glorious Jessica Williams and the askew characters played by Messrs. Ford and Segel. But more essential to the 10-episode series is the seesawing sensation it maintains between profoundly dysfunctional people and feel-good comedy. But the overall sense is a little like laughing at a funeral; the human impulses are familiar, a little perverse and somehow comforting. Ms. Miller is wonderfully droll; Liz’s good deeds do not go unpunished.

☆ Justice Department Faces Accusations It Outsourced a Corporate Investigation in Bribery Case
▼ + stars: | 2022-12-22 | by ( Dylan Tokar | ) www.wsj.com time to read: +7 min

PREVIEWThe case against Messrs. Coburn and Schwartz was presented as a model for the Justice Department’s approach to corporate crime when it was announced in 2019. The department’s investigation into Messrs. Coburn and Schwartz was prompted by one such tipoff. The Deutsche Bank ruling was heavily cited in the motions filed by Messrs. Coburn and Schwartz. Since Messrs. Coburn and Schwartz launched their legal challenge, the Justice Department has doubled down on its bid to recruit companies as corporate crime watchdogs. The judge earlier in December heard oral arguments by both sides related to the executives’ motions.

☆ IRS Audits That Included Comey, McCabe Were Random Selections, Report Finds
▼ + stars: | 2022-12-01 | by ( Richard Rubin | ) www.wsj.com time to read: 1 min

Former FBI leaders have questioned whether they were chosen on purpose for audits by the Internal Revenue Service. WASHINGTON—IRS research audits in 2017 and 2019—the years that FBI leaders James Comey and Andrew McCabe were selected for those intensive exams—were random, according to an inspector general’s report released Thursday. The report from the Treasury Inspector General for Tax Administration found no misconduct or evidence that the Internal Revenue Service’s National Research Program was manipulated to ensure that specific taxpayers would be chosen. Messrs. Comey and McCabe were both fired under then President Donald Trump and have questioned whether they were chosen on purpose.

☆ Layoffs Create Pitfalls for Finance Executives Looking to Cut Costs
▼ + stars: | 2022-11-28 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: +6 min

They are increasingly looking to layoffs as a way to preserve capital, alongside other measures, such as hiring freezes. Finance chiefs play a key role in this by determining which costs to cut and setting companies’ financial targets, said advisers who work with companies during staffing cuts. Tech business HP Inc., ride-hailing company Lyft Inc. and tool-and-appliance maker Stanley Black & Decker Inc. have announced layoffs in recent months. Finance chiefs are increasingly part of the initial discussions about whether job cuts are needed, said Hardik Sheth, a partner at Boston Consulting Group, a management consulting firm. Some employees at Twitter, which recently cut roughly half of its workforce, are now pushing back against the dismissals.

☆ Food Company Post Holdings Promotes Treasurer Matt Mainer to CFO Role
▼ + stars: | 2022-11-16 | by ( Kristin Broughton | ) www.wsj.com time to read: +2 min

St. Louis-based Post named its treasurer, Matt Mainer, as chief financial officer and promoted Jeff Zadoks, its current CFO, to operating chief, effective Dec. 1. Mr. Mainer has served as treasurer since joining the company in 2015, and will continue to hold the title after taking over as CFO. Post declined to make Mr. Mainer available for an interview. Photo: Post Holdings Mr. Zadoks has served as Post’s CFO since 2014. In his new role, Mr. Zadoks will work with the company’s business-line presidents on areas such as boosting revenue and cutting costs, said Post.

☆ Late Bed Bath & Beyond CFO Dropped From Shareholder Suit
▼ + stars: | 2022-11-02 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: +5 min

Gone are claims from the original 24-page complaint that Mr. Arnal and Mr. Cohen colluded to boost the company’s share price. Bed Bath & Beyond has said the lawsuit was without merit. Bed Bath & Beyond and Mr. Cohen, along with JP Morgan Securities LLC, are still named as defendants in the suit, which seeks class-action status. Bed Bath & Beyond shares traded around $4.05 on Wednesday, down more than 70% since the beginning of the year. Mr. Toll said he hadn’t heard from Bed Bath & Beyond or Mr. Arnal’s estate leading up to the filing of the amended complaint.

☆ Late Bed Bath & Beyond CFO Dropped From Suit Alleging Collusion With Ryan Cohen
▼ + stars: | 2022-11-02 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: +5 min

“There’s plenty of grief in his family, and us making it even worse didn’t seem worth it,” Mr. Toll said. Gone are claims from the original 24-page complaint that Mr. Arnal and Mr. Cohen colluded to boost the company’s share price. Bed Bath & Beyond and Mr. Cohen, along with JP Morgan Securities LLC, are still named as defendants in the suit, which seeks class-action status. Mr. Cohen unloaded his entire stake in Bed Bath & Beyond in mid-August. Bed Bath & Beyond shares traded around $4.05 on Wednesday, down more than 70% since the beginning of the year.

The Musk video by reAlpha included “robust disclaimers” establishing it as satire, said Christie Currie, chief marketing officer. The first Musk video went live days after reAlpha launched a public offering under regulation A+ in 2021. But the ease of creating deepfakes means some celebrities could soon be deluged by ads featuring their unauthorized, but very convincing likenesses, Mr. Moss said. At the same time, the language in contracts written years before the technology existed may be vague enough to allow marketers to use existing footage to create new deepfake videos. Companies most often request celebrity deepfake videos to use internally for training, communications, parties or other purposes—but not for ads, said Daynen Biggs, owner of Slack Shack Films, which produced the Elon Musk videos.

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