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☆ Student-loan borrowers are facing 'serious risks' to their credit scores following the 'chaotic' payment resumption, 4 Democratic lawmakers say
▼ + stars: | 2023-12-04 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Four Democrats recently wrote a letter that raised concerns about student-loan repayment challenges. They said they're worried servicer errors could hurt borrowers' credit scores. AdvertisementIt's been just over two months since federal student-loan payments resumed and millions of borrowers have already faced a range of difficulties with the transition. Elizabeth Warren, Bernie Sanders, Richard Blumenthal, and Chris Van Hollen sent a letter to Education Secretary Miguel Cardona expressing concerns about challenges student-loan borrowers have faced over the past few months. "For example, we are concerned that ED's credit reporting processes may expose borrowers' credit scores to unanticipated consequences," the letter said.

Persons: they're, —, It's, Elizabeth Warren, Bernie Sanders, Richard Blumenthal, Chris Van Hollen, Secretary Miguel Cardona, it's Organizations: Education Department, Service, Democratic, Secretary, Department, Democrats, Federal Student Aid, House Republicans Locations: Sens

☆ Digital Payments Are Having a Jolly Holiday
▼ + stars: | 2023-12-02 | by ( Telis Demos | ) www.wsj.com time to read: 1 min

Buy now, pay later point-of-sale lending offered by Afterpay and others generated 42.5% more online spending on Cyber Monday this year than last year. Photo: Richard B. Levine/Zuma PressThis year’s Black Friday might not have been marked by stories of mobs of shoppers like in past years, but it made up for that drama digitally. In-store U.S. retail sales on Black Friday rose 1.1% over last year, according to Mastercard SpendingPulse, and e-commerce sales were up 8.5%. That might help give a second wind to digital payments stocks whose shares have struggled at times in the postpandemic era.

Persons: Afterpay, Richard B, Levine Organizations: Mastercard SpendingPulse

☆ Elliott Erwitt, Whose Photos Are Famous, and Often Funny, Dies at 95
▼ + stars: | 2023-11-30 | by ( Richard B. Woodward | ) www.nytimes.com time to read: +1 min

Boris later traveled to Japan to be ordained as a Buddhist priest and returned to practice his adopted religion in Manhattan. Mr. Erwitt credited “shyness” — he had arrived in New York speaking no English — with making him a photographer. He began seriously taking pictures in Los Angeles with an antique glass-plate camera when he was 16, then upgraded to a Rolleiflex. The unheroic and the offbeat had already become signature motifs for Mr. Erwitt. He made his first dog-related pictures in 1946, for a fashion story about women’s shoes for The New York Times Magazine.

Persons: Boris, Erwitt, ” —, “, ”, Capa, Steichen, Henry, Henry Luce Organizations: Hollywood High School, Los Angeles City College, New School for Social Research, Army, Army Signal Corps, New York Times Magazine Locations: New Orleans, Japan, Manhattan, New York, Los Angeles, France

☆ The Complex, Enduring Friendship of Shane MacGowan and Sinead O’Connor
▼ + stars: | 2023-11-30 | by ( Amanda Hess | More About Amanda Hess | ) www.nytimes.com time to read: +2 min

In a 2021 biography of MacGowan, O’Connor recalled performing a version of “Haunted” with him while he was using heroin. “The producers were freaking out because Shane was nodding out on smack in between the verses,” she told MacGowan’s biographer, Richard Balls. O’Connor and MacGowan first encountered each other in the 1980s in London, MacGowan told me over email in 2021, though he did not remember the exact circumstances. “In the locked ward where they put you if you’re suicidal, there’s more class A drugs than in Shane MacGowan’s dressing room,” she wrote. Shane MacGowan sounds Irish.” In our interview, MacGowan called O’Connor “a brilliant singer and a brilliant Irish singer, one of the best.”

Persons: MacGowan, O’Connor, Shane, ”, MacGowan’s, Richard Balls, “, Moya Brennan, Joey Cashman, Joey, “ Rememberings, ” O’Connor, Shane MacGowan’s, Bob Geldof, ” Geldof, “ Bono, Shane MacGowan Organizations: Pogues, “ Locations: London, St, Dublin, Irish

☆ Oil Producers Fail to Agree on More Production Cuts
▼ + stars: | 2023-11-30 | by ( Stanley Reed | More About Stanley Reed | ) www.nytimes.com time to read: +1 min

The oil producers group known as OPEC Plus met on Thursday and failed to announce new production cuts in the face of sagging prices, but Saudi Arabia later said that it would continue to trim output by one million barrels a day through March, in coordination with some other countries that were not named. Oil traders, who may have expected more substantial cuts, had a chilly response to the news. Futures fell for the day, with Brent crude down 0.4 percent, to $82.80 a barrel, and West Texas Intermediate falling more than 3 percent, to $75.25. News reports of production cuts preceded the meeting. OPEC Plus said that Brazil, an oil giant that until now has not been part of the producers group, was expected to join next year.

Persons: Brent, ”, Richard Bronze, Alexandre Silveira de Oliveira Organizations: West Texas, Plus Locations: Saudi Arabia, Brazil

☆ Bankrupt Bed Bath & Beyond Seeks $300 Million From MSC Line for Pandemic Shipping Charges
▼ + stars: | 2023-11-29 | by ( Costas Paris | ) www.wsj.com time to read: 1 min

Bed Bath & Beyond filed for bankruptcy protection in April. Photo: Richard B. Levine/Zuma PressThe bankruptcy estate of Bed Bath & Beyond has filed the largest ever lawsuit with the Federal Maritime Commission, seeking around $300 million from Mediterranean Shipping Co. for allegedly overcharging to move its cargo during the pandemic. The bankrupt retailer wants Geneva-based MSC, the world’s largest boxship operator in terms of capacity, to pay around $150 million for damages and an equal sum for what it described as exploitative and coercive behavior. Complaints by American companies are handled by the FMC , the U.S. maritime regulator.

Persons: Richard B, Levine Organizations: Zuma, Bed, Federal Maritime Commission, Mediterranean Shipping Co, FMC Locations: Geneva, U.S

Senate Democrats are discussing the possibility of attaching conditions to future Israel military aid amid humanitarian concerns in Gaza resulting from the country’s aggressive prosecution of its war against Hamas. “I do think that Israel needs to be more careful in the way it is conducting these operations,” Murphy added. Sen. John Fetterman of Pennsylvania told reporters he doesn’t support restrictions, saying that Hamas has to be “eliminated,” necessitating that there be no conditions on military aid to Israel. Senate Republicans were likewise largely opposed to conditions on aid to Israel, like Senate Minority Leader Mitch McConnell, who called the idea “ridiculous.”“Our relationship with Israel is the closest national security relationship we have with any country in the world,” McConnell said. “We all support Israel.

Persons: Benjamin Netanyahu, Chuck Schumer, ”, Sen, Chris Coons, Bernie Sanders, Netanyahu’s, ” Sanders, Chris Murphy, ” Murphy, Joe Biden, Richard Blumenthal, who’s, ” Blumenthal, John Fetterman of, “, ” Fetterman, Mitch McConnell, ” McConnell, Israel –, “ We’ve, ” Sen, Peter Welch, we’re Organizations: CNN, Senate Republicans, Vermont Democrat, Israel Locations: Israel, Gaza, Chris Coons of Delaware, Vermont, Connecticut, U.S, Richard Blumenthal of Connecticut, John Fetterman of Pennsylvania

☆ The first commercial transatlantic flight powered completely by green fuels is in the air, but critics say it's a gimmick and a joke
▼ + stars: | 2023-11-28 | by ( Pete Syme | Taylor Rains | ) www.businessinsider.com time to read: +3 min

Virgin Atlantic is operating the first transatlantic flight on a commercial airliner powered by 100% SAF. But it costs more than double conventional jet fuel, and production is lagging behind demand. Virgin Atlantic is operating the Boeing 787-9 Dreamliner to New York's JFK Airport, where it's expected to arrive around 2 p.m. "And if we didn't prove it can be done, you would never, ever get sustainable aviation fuel." On Monday, Emirates flew the world's first Airbus A380 demonstration flight using 100% SAF.

Persons: it's, Shai Weiss, Sir Richard Branson, There's, Weiss, Critics, Cait Hewitt Organizations: Virgin, SAF, Service, Virgin Atlantic, Boeing, New York's JFK, International Air Transport Association, BBC, Aviation Environment Federation, CNN, Guardian, UK's Department for Transport, Monday, Emirates, Airbus, Gulfstream, Gulfstream G600 Locations: New, Georgia, England

It follows the successful transatlantic crossing by a Gulfstream G600 business jet using the same fuel last week. SAF is key toward reducing those emissions, but it is costly and accounts for less than 0.1% of total global jet fuel in use today. The fuel used to power Tuesday's flight is mostly made from used cooking oil and waste animal fat mixed with a small amount of synthetic aromatic kerosene made from waste corn, Virgin Atlantic said. Yet the 2030 target looks challenging given SAF's small volumes and its high cost, right now about three to five times as much as regular jet fuel. Virgin said the engines on the flight would be drained of SAF and tested before it returns to service using regular fuel.

Persons: Virgin, Richard Branson, Shai Weiss, Mark Harper, John F, Magdalena Heuwieser, Sarah Young, Joanna Plucinska, Tomasz Janowski Organizations: Virgin Atlantic, Virgin Boeing, Royce, Trent, Gulfstream G600, London Heathrow, Kennedy International Airport, Virgin, SAF, Boeing, BP, Aviation, British Airways, Air France, Union, Thomson Locations: London, New York, Dubai

☆ Rape at sea: How a broken system is failing passengers and darkening the cruise industry
▼ + stars: | 2023-11-24 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +12 min

Cruise ship companies are failing sexual assault victims, lawsuits seen by Business Insider show. Carnival told the Washington Post last year that the alleged assailant was fired from the cruise line but that he was never charged. "The truth is, cruise companies don't know much about the employees they hire," he told BI. "I don't know how they sleep at night, I really don't"Jamie Barnett, from the organization International Cruise Victims (ICV), told BI that the behavior of cruise companies makes victims feel "lost and very isolated." Cruise companies, she said, "will fight tooth and nail before they would roll over and not do what they needed to do, to keep the public from knowing."

Persons: —, Ryan, Patrick Connolly, Ross Klein, They'll, they'll, Klein, they've, Justin Sullivan, Jane Doe, Jim Walker, Walker, Jamie Barnett, Barnett, Democratic Sen, Richard Blumenthal Organizations: Business, Service, MSC, MSC Cruises, MSC Meraviglia, Orlando Sentinel, Tribune, Getty, BI, US Department of Transportation, Disney Cruise Line, Disney Cruise, Memorial University of Newfoundland, Cruise, Federal Bureau of Investigations, Vessel Security, Safety, FBI, Princess Cruises, BuzzFeed, Carnival, Washington Post, International Cruise, Democratic Locations: Port Canaveral, Port of Oakland, California, Caribbean, Miami, Key West , Florida

☆ Tech Stocks Sink Ahead of Nvidia Earnings
▼ + stars: | 2023-11-22 | by ( Eric Wallerstein | ) www.wsj.com time to read: 1 min

Best Buy shares fell after the retailer said consumers are hunting for deals and demand has been hard to predict. Photo: Richard B. Levine/Zuma PressArtificial intelligence powered the stock market for much of the year. Now it is testing U.S. stocks’ November rally. The S&P 500 slipped 0.2%. The Dow industrials fell 0.2%, or 63 points.

Persons: Richard B, Levine, Dow industrials Organizations: Nasdaq

☆ Senate committee subpoenas Live Nation, Ticketmaster after months-long probe
▼ + stars: | 2023-11-20 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

In a statement Monday, Blumenthal said, "Live Nation has egregiously stonewalled my Subcommittee's inquiry into its abusive consumer practices — making the subpoena necessary." A Senate investigative subcommittee on Monday said it has issued a subpoena to Live Nation Entertainment and its Ticketmaster subsidiary for information regarding ticket pricing and fees after a months-long probe that had not been previously announced. A Live Nation spokesperson, in an email to CNBC, said, "Live Nation has voluntarily worked with the Subcommittee from the start, providing extensive information and holding several meetings with staff." Live Nation, an event promoter, and the ticket vendor Ticketmaster now control 70% of the market for tickets and live event venues after their merger more than a decade ago. The Senate Judiciary Committee this summer held a hearing about Live Nation and the lack of competition in event ticketing's primary and secondary markets.

Persons: Blumenthal, Sen, Richard Blumenthal, Conn, Michael Rapino, we've, Taylor Swift, Bruce Springsteen, Rapino, Amy Klobuchar Organizations: Nation Entertainment, Ticketmaster, CNBC, Investigations, Committee, CNBC PRO

☆ Live Nation issued subpoena regarding ticketing, fees by US Senate panel
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +2 min

The logo and trading information for Live Nation Entertainment is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2019. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsWASHINGTON, Nov 20 (Reuters) - Live Nation (LYV.N) and its subsidiary Ticketmaster is being sent a subpoena for documents regarding ticket pricing, fees and secondary sales, a U.S. Senate panel said on Monday. "Live Nation has egregiously stonewalled my Subcommittee’s inquiry into its abusive consumer practices — making the subpoena necessary," Senator Richard Blumenthal, Democratic chair of the U.S. Senate Permanent Subcommittee on Investigations, said in a statement. In a cover letter that accompanied the subpoena, Blumenthal said Live Nation had failed to fully comply with document requests sent in March. A Live Nation spokesperson said the company had provided "extensive information" to the subcommittee and met with staff several times.

Persons: Brendan McDermid, Taylor, Richard Blumenthal, Blumenthal, we’ve, Diane Bartz, Lisa Shumaker, David Gregorio Our Organizations: Live, New York Stock Exchange, REUTERS, Rights, Ticketmaster, U.S, Senate, hardball, Democratic, U.S . Senate, Investigations, Thomson Locations: New York, U.S

☆ Senate panel investigates US airline baggage, seat selection fees
▼ + stars: | 2023-11-20 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Between 2018 and 2022, total revenue across major U.S. airlines from baggage fees increased from $4.9 billion to $6.8 billion, the senator said. Blumenthal also cited a report by a travel consultancy that found that eight leading U.S. airlines last year collected an estimated $4.2 billion in fees for seat selection. "U.S. airlines increasingly charge ancillary fees that obscure the actual cost of air travel," Blumenthal said in the letters. Airline CEOs in 2018 lobbied against bipartisan legislation to mandate "reasonable and proportional" baggage and change fees and convinced Congress to drop the plan. The U.S. Transportation Department last year proposed requiring airlines to disclose fees for baggage, ticket changes and family seating the first time an airfare is displayed.

Persons: Shelby Tauber, Richard Blumenthal, Blumenthal, David Shepardson, Will Dunham, Chris Reese Organizations: Dallas Love Field Airport, REUTERS, Rights, U.S, Senate, Democratic, Investigations, American Airlines, United Airlines, Delta Air Lines, Spirit Airlines, Frontier Airlines, Airlines for America, U.S . Transportation, Aviation, Thomson Locations: Dallas , Texas, U.S, Delta

☆ Senate subcommittee issues subpoena to Live Nation and Ticketmaster after Taylor Swift ticketing fiasco
▼ + stars: | 2023-11-20 | by ( Ramishah Maruf | Morgan Rimmer | ) edition.cnn.com time to read: +5 min

“Live Nation has egregiously stonewalled my Subcommittee’s inquiry into its abusive consumer practices—making the subpoena necessary,” said Sen. Richard Blumenthal, a Democrat, who chairs the subcommittee. Ticketmaster has drawn the ire of Congress since its botched handling of presale tickets for Taylor Swift’s Eras Tour. Pre-sale tickets for “The Eras Tour” frustrated Swift fans across the country in a debacle that stayed in the headlines for weeks. Lawmakers grilled a top executive of Live Nation in January in a three-hour hearing. “I want to congratulate and thank you for an absolutely stunning achievement,” Blumenthal said to Live Nation president and CFO Joe Berchtold during the January hearing.

Persons: Taylor Swift, Bruce Spingsteen, ”, Sen, Richard Blumenthal, Taylor, Swift, “, couldn’t, ” Blumenthal, Joe Berchtold, ” Berchtold, concertgoers, – CNN’s Samantha Kelly, Jennifer Korn, Camila Bernal Organizations: New, New York CNN, Investigations, Nation, Ticketmaster, Democrat, Capital One, Live Nation, Democrats Locations: New York, Los Angeles

☆ AI investment is growing, and so are the career opportunities
▼ + stars: | 2023-11-17 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Within two months of OpenAI launching its AI chatbot ChatGPT last November, it surpassed 100 million monthly users. Major tech companies like Microsoft, Amazon, and Google have invested billions in deals with AI companies like OpenAI and Anthropic, while venture capital firms have placed eight-figure bets on AI startups. AdvertisementMore money in AI means more jobs in AI, and companies big and small are now on the hunt for AI talent. These AI jobs range from software developers and machine learning engineers building in-house AI tools to prompt engineers that fine tune AI chatbots to produce the best outputs. Generative AI has even created a cottage industry of side hustles like ChatGPT course instruction, AI content editing, and newsletters focused on AI-news.

Persons: —, chatbot ChatGPT, Goldman Sachs, Karin Kimbrough, LinkedIn's, Daron Acemoglu, Zer, Richard Baldwin, Aaron Mok Organizations: Service, Microsoft, Google, LinkedIn, Meta, Netflix, Apple, MIT, Nvidia, IBM

☆ You can stay on Richard Branson's private island this holiday season—rates start at $5,400 a night
▼ + stars: | 2023-11-15 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

Have you ever wanted to walk in Sir Richard Branson's shoes? The business mogul is inviting people to visit Necker Island, his famous private island in the Caribbean. Sir Branson typically has friends and family stay during the holiday season or rents out the entire island for over $100,000. But this year, Sir Branson and his team at Necker Island are expanding their offerings. For stays from November 18-25 and December 11-20, rates start at $5,400 a night per room, while stays from December 20-26 start at $5,850.

Persons: Sir Richard Branson's, Sir Branson, they've, James Basson, Necker Island's Organizations: CNBC Locations: Necker, Caribbean

☆ US senators demand documents from Meta over its handling of teen mental health
▼ + stars: | 2023-11-15 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

Washington CNN —A group of US senators is demanding that Meta CEO Mark Zuckerberg hand over troves of emails and documents that could show how the company handled the knowledge that its platforms could harm the mental health of teens. The company didn’t immediately respond to a request for comment on the letter. Meta spokesman Andy Stone said that the company is in touch with the members who signed the letter. The letter further accuses Meta of showing an “apparent willful disregard” for young people’s well-being, of “misrepresentations to Congress” and of “profiting from threats” to user safety. The letter requests a response by Nov. 30 and calls for Meta to provide its correspondence related to Bejar’s warnings to executives, as well as senior leaders’ own correspondence with Zuckerberg about proposed investments in user well-being.

Persons: Mark Zuckerberg, Zuckerberg, ”, Connecticut Democrat Richard Blumenthal, Tennessee Republican Marsha Blackburn, Dick Durbin, South Carolina Republican Lindsey Graham, South Carolina Republican Lindsey Graham ; Massachusetts Democrat Elizabeth Warren, Missouri Republican Josh Hawley, Meta, Arturo Bejar, Andrea Joy Campbell, didn’t, Andy Stone, people’s, ’ Organizations: Washington CNN, Facebook, Connecticut Democrat, Tennessee Republican, South Carolina Republican, South Carolina Republican Lindsey Graham ; Massachusetts Democrat, Missouri Republican, Meta Locations: Massachusetts, Connecticut, Tennessee, Illinois, South Carolina Republican Lindsey Graham ; Massachusetts, Missouri

☆ AI is going to force millions of workers to train for new jobs. The US has historically been terrible at this.
▼ + stars: | 2023-11-14 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Experts say many of those workers will need to be retrained for new jobs to avoid being left behind. The US economy has struggled in recent decades to help workers adjust to job disruptions. Emerging generative AI technologies like ChatGPT could eliminate or change the nature of millions of jobs over the next decade. AdvertisementWhen Donald Trump promised to bring back manufacturing jobs before the 2016 election, he was speaking to the Americans who had been left in the lurch. But many overseas jobs aren't likely to return anytime soon, among the reasons job retraining was — and remains — necessary for impacted workers.

Persons: —, Richard Baldwin, Seth Carpenter, Morgan Stanley, hasn't, Donald Trump, Michael Chui, Chui, Ethan Mollick Organizations: Service, Global, Economic, Institute, McKinsey Global Institute, University of Pennsylvania's Wharton School, PricewaterhouseCoopers, IBM, Schools Locations: United States, Mexico

☆ Is the UK space industry about to take off?
▼ + stars: | 2023-11-14 | by ( ) www.cnbc.com time to read: +1 min

The failure of Virgin Orbit's maiden commercial satellite launch from British soil, and the company's subsequent filing for bankruptcy protection, may have seemed like a fatal blow for the U.K.'s nascent space sector. But a range of companies hope to play a key role in the business of building, launching and operating satellites, a $281 billion industry which has been growing rapidly over the past decade. Billionaire-backed companies like Elon Musk's SpaceX, Jeff Bezos's Blue Origin and Richard Branson's Virgin Orbit have been revolutionizing the space industry over the last decade, which has seen advances in re-usable rockets, the deployment of thousands of small communication satellites and new launch sites opened. To find out how smaller U.K.-based firms are looking to compete, CNBC visited a spaceport being built in the far north of the Shetland Islands, an established satellite-builder and a startup aiming to see one of its re-usable satellites finally make it into space.

Persons: Virgin, Jeff Bezos's, Richard Branson's Virgin Organizations: Elon, SpaceX, CNBC Locations: Shetland

Experts say Trudeau's carbon pricing scheme, known as the carbon tax, works well and cannot be easily replaced. Even the left-leaning New Democrats, who support Trudeau's government in parliament and have previously defended the carbon tax, are calling for the exemption. Analysts said the carbon tax carve-out is another example of inconsistent policy. CARBON TAX REBATEThe carbon tax is intended to discourage use of fossil fuels and accelerate a switch to clean energy, but the recent carve-out underlines how fragile climate policy is in the face of pressing political calculations. In September, Bank of Canada governor Tiff Macklem said the carbon tax contributes about 0.15 percentage points to the inflation rate, which was 3.8% that month.

Persons: Justin Trudeau, Jessica Lee, Richard Brooks, Brooke, Brooks, Chris Severson, Baker, Pierre Poilievre, clobber Trudeau, Shachi Kurl, Angus Reid, Kurl, Jonathan Wilkinson, Wilkinson, Macklem, Trudeau, Robert Asselin, Asselin, Nia Williams, Steve Scherer, Josie Kao Organizations: Canada's, Ontario Chamber, Economic Summit, REUTERS, Rights Ottawa, Canadian, Provincial, New Democrats, Pembina Institute, Liberal, Conservative, Angus Reid Institute, Atlantic, Natural Resources, Reuters, Bank of Canada, Business Council of Canada, The Business Council, Thomson Locations: Toronto , Ontario, Canada, Ottawa

☆ Corporate profit recovery is underway, says Richard Bernstein's Dan Suzuki
▼ + stars: | 2023-11-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCorporate profit recovery is underway, says Richard Bernstein's Dan SuzukiDan Suzuki, deputy chief investment officer at Richard Bernstein Advisors, joins 'The Exchange' to discuss the market outlook amid a potential government shutdown, the state of the economy, and more.

Persons: Richard Bernstein's Dan Suzuki Dan Suzuki, Richard Bernstein Organizations: Richard, Richard Bernstein Advisors

☆ Are US Treasurys still a safe-haven asset? An epic bond-market crash and rising default fears are sowing doubts.
▼ + stars: | 2023-11-12 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Financial markets have been engaged in a growing debate over the risks that lurk in Treasurys, with prominent voices raising doubts. AdvertisementAdvertisementIn March, a Richard Bernstein Advisors note said spreads on credit default swaps have climbed for Treasurys since since 2011, when the federal government was issued its first credit downgrade. Then came this spring's debt-ceiling drama and the US credit downgrade in August from Fitch, which cited the rising debt burden and political dysfunction. If a downgrade follows, then US debt wouldn't be in the safest category for default risk at any of the three major ratings agencies. Several auctions for long-dated Treasurys have seen weak demand, and buyers are demanding higher compensation for the risk of carrying Treasurys.

Persons: —, Moody's, they've, Mohamed El, Erian, Asset's Seema Shah, Treasurys, Richard Bernstein, Gennadiy Goldberg isn't Organizations: Service, Federal, CNBC, Dallas Federal, Richard Bernstein Advisors, Fitch, Penn Wharton Budget, Securities Locations: Treasurys, there's, US

Executives of some beaten-down companies, including one battered biotech name and a popular soft drinks maker, scooped up shares of their own stock in the past week. Here are the top insider buys: Energy Transfer — Executive Chairman Kelcy Warren bought one million shares Monday at $13.53 per share for a total value of $13.53 million. Shares are up more than 2% over the past month. Enstar Group CEO bought swathes of shares Wednesday, the day after the company reported its earnings for the third quarter. The stock has gained about 8% so far this year and shares are up roughly 4% over the past month.

Persons: Kelcy Warren, Dominic F, Silvester, Nigel W, Morris, Richard Barry, Verity, Douglas Ingram, Keurig Dr Pepper, Timothy P, Cofer, Dr Pepper's, Dr Pepper —, Dr Pepper, Mott's —, Enstar Organizations: CNBC Pro, —, Global, Therapeutics, Remitly, FDA, U.S . Securities, Exchange, Enstar Locations: Canada

☆ More Executives Vanish in China, Casting Chill Over Business Climate
▼ + stars: | 2023-11-09 | by ( Chun Han Wong | ) www.wsj.com time to read: 1 min

Chen Shaojie, chief executive of DouYu, in the blue suit, has been unreachable since October, a person familiar with the matter said. Photo: Richard B. Levine/Levine Roberts/ZUMA PRESSSINGAPORE—The list of business executives and political figures who have gone missing in China keeps growing. Top executives at a video-streaming platform and a pharmaceutical company were the latest to disappear, as an intensifying clampdown by Beijing on alleged corruption and malfeasance shakes business confidence in China, among local and foreign firms alike.

Persons: Chen Shaojie, Richard B, Levine, Levine Roberts, ZUMA Organizations: SINGAPORE Locations: China, Beijing

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