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☆ Explainer: Country Garden: How bad are the Chinese property developer's debt problems?
▼ + stars: | 2023-09-01 | by ( Xie Yu | ) www.reuters.com time to read: +4 min

A view of closed shops in a mall at Country Garden's Forest City development in Johor Bahru, Malaysia August 16, 2023. Who is Country Garden and why do people care about its debt woes? Until this year Country Garden was the largest Chinese developer by sales. It faces 108.7 billion yuan ($14.9 billion) worth of debts due within 12 months, while its cash levels are around 101.1 billion yuan. It said Country Garden was facing tight liquidity and recovery prospects for bondholders could be weak.

Persons: Edgar Su, Will, Moody's, Xie Yu, Sumeet Chatterjee, David Holmes Organizations: REUTERS, HK, China Evergrande, Thomson Locations: Garden's, City, Johor Bahru, Malaysia, HONG KONG, China, Evergrande, Will Beijing, Beijing, Guangdong, Caa1

☆ When to wear masks as Covid cases rise, new variants emerge in the U.S.
▼ + stars: | 2023-09-01 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

An uptick in Covid cases and hospitalizations in the U.S., and the emergence of new variants of the virus, are prompting questions about whether Americans should start masking up again. One thing's for sure: People infected with Covid should wear masks around others to prevent the spread of the virus. That includes your personal risk level, Covid rates in your region and who you might make contact with, public health experts said. Newer Covid variants like the now-dominant EG.5, or "Eris," and a handful of XBB strains have fueled the rise. New Covid shots from Pfizer , Moderna and Novavax are slated to roll out in mid-September, and will likely provide robust protection against those variants.

Persons: Michael Nason, Donna Nason, Andrew Pekosz, Francesca Torriani, Pavitra, Axios Organizations: Centers for Disease Control, Johns Hopkins Bloomberg School of Public Health, CNBC, CDC, U.S, Pfizer, Moderna, University of California, University of Washington School of Medicine Locations: Bakersfield, Los Angeles , CA, California, U.S, Covid, San Diego

Before heading into the second international leg of her ongoing Summer Carnival Tour, the "So What" singer will also embark on a North American Trustfall Tour. Pink's Summer Carnival Tour is already well underway, as the artist kicked off her eighth concert tour in England on February 8. How to get tickets for Pink 2023 concert tourYou can get original tickets to Pink's 2023 concert tour through Ticketmaster. Pink 2023 tour schedulePink still has 10 United States concert dates remaining in her 2023 Summer Carnival Tour. Here's a breakdown of the VIP packages available for Pink's Summer Carnival Tour and Trustfall Tour on Ticketmaster's website.

Persons: we've, Pink, Montréal, KidCutUp, Brandi Carlisle, Pat Benatar, Neil Giraldo, Orlando Brandi Carlisle Organizations: Pink, Ticketmaster, Pink's San, United, San, AZ, Kansas City, KY, FL Locations: American, England, Toronto, Canada, Oceania, Pink's San Antonio, Houston, United States, North America, Philadelphia, Nashville, TN, Antonio, Arlington, TX, San Diego, Inglewood, CA, Las Vegas, Phoenix, Sacramento, San Francisco, Tacoma, WA, Vancouver, BC, Denver, Kansas, York, NY, Indianapolis, Cleveland, Louisville, Charlotte, NC, Miami, Orlando, Philadephia, San Antonio, Paradise, Denver , Kansas City, Montréal , New York City, Cleveland , Louisville, Sunrise, Montréal, Australia, New Zealand

Country Garden is China's largest private developer. Country Garden has been in talks with onshore creditors to extend payments on the private bond and has proposed to repay in instalments over three years instead of meeting its obligations by the deadline on Saturday. "Country Garden may be able to extend its debts, but it does not mean the company and property sector are out of the woods unless home sales rebound." On Wednesday, creditors holding 10.5% of the outstanding principal, added a new proposal where they can vote to immediately call the company in default. The company's extension plan for the onshore private bond calls for payments in seven instalments ending in September 2026.

Persons: Matthew Pestronk, Goldman Sachs, Moody's, Kaven Tsang, Gary Ng, Ng, Xie Yu, Clare Jim, Li Gu, Matt Tracy, Sumeet Chatterjee, Anne Marie Roantree, Jacqueline Wong, Kim Coghill, Susan Fenton Organizations: HK, Post, People's Bank of China, Thursday, Asia Pacific, Thomson Locations: China, HONG KONG, SHANGHAI, Beijing, Hong Kong, Philadelphia, Guangzhou, Shenzhen, Caa1, Asia, Shanghai

☆ U.S. health officials want to loosen marijuana restrictions. Here's what it means
▼ + stars: | 2023-08-31 | by ( Stefan Sykes | ) www.cnbc.com time to read: +4 min

Jeenah Moon | Bloomberg | Getty ImagesThis week, the Department of Health and Human Services asked the Drug Enforcement Agency to consider easing restrictions on marijuana upon a review of its classification under the Controlled Substances Act. It could be a significant catalyst for an industry hemmed in by federal regulations even as legalization picks up on the state level. Marijuana is legal in 39 states medically and 23 states recreationally. If marijuana moves down to a Schedule III substance, this will effectively ease a number of restrictions holding the sector back. While many states have legal markets within their borders, transporting Schedule I substances across state lines in illegal, resulting in a glut of marijuana in some states.

Persons: What's, Roth, Scott Fortune, Fortune, Jeff Schultz, Foley Hoag Organizations: ACB, Housing, Cannabis Co, Bloomberg, Getty, Department of Health, Human Services, Drug Enforcement Agency, Aurora, Tilray Brands, DEA, Marijuana, HHS, Regulators, Internal Revenue Locations: New York

☆ Sunrun could rally almost 40% from Tuesday's close, Citigroup says
▼ + stars: | 2023-08-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Residential solar energy company Sunrun is now trading at an attractive valuation, according to Citigroup. The bank upgraded Sunrun to buy from neutral at the same time it actually lowered its price target by $4 to $21, which still implies almost 40% upside against Tuesday's close. Shares were up 8.5% in premarket trading Wednesday after slumping nearly 37% year to date through Tuesday. Sunrun is "not getting due credit" for numerous catalysts set to drive the stock higher, analyst Vikram Bagri said in a Wednesday note. Sunrun also has a 37% stake in Lunar and potential from SnapNrack and virtual power plants, Citigroup said.

Persons: Tuesday's, Sunrun, Vikram Bagri, Bagri, — CNBC's Michael Bloom Organizations: Citigroup

Learn moreIf you're looking for help on where to buy Metallica tickets for their ongoing M72 World Tour, we have you covered. Metallica's M72 World Tour kicked off on April 27 in Amsterdam. Metallica 2023/2024 tour scheduleThere are still seven more concert dates across five cities in the U.S. for the second leg of Metallica's tour. Since Metallica's M72 World Tour primarily consists of two shows at each location, you can also get deals for two-day passes cheaper than buying separate tickets for those dates. Metallica's M72 World Tour features various opening acts across multiple dates.

Persons: James Hetfield, Lars Ulrich, Kirk Hammett, Robert Trujillo, Foxborough, Greta Van Organizations: Metallica, IL, Ticketmaster, Mammoth, Nine, Architects Locations: Amsterdam, Europe, North America, East Rutherford , New Jersey, StubHub, U.S, Detroit, Germany, Glendale, AZ, Indio, CA, Louis, St, MI, Detroit ,, Munich, Helsinki, Finland, Copenhagen, Denmark, Warsaw, Poland, Madrid, Spain, Foxborough, Chicago, Chicago ,, Minneapolis, Minneapolis ,, Edmonton, Canada, Seattle, WA, Seattle , WA, Mexico City, Mexico, Louis , Missouri, Michigan, Seattle , Washington, Detroit , MI, MN

☆ Weekend episode: Jackson Hole and the Powell Rorschach test, Zambian rock returns and Europe reins in Big Tech
▼ + stars: | 2023-08-26 | by ( ) www.reuters.com time to read: +1 min

We check in on the state of the global economy at the annual economic symposium in Jackson Hole. And a Zamrock legend returns after 40 years. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Our Standards: The Thomson Reuters Trust Principles.

Persons: Fed's Powell Organizations: Apple, Google, Reuters, Thomson, EU Digital Services Locations: Jackson, Silicon

☆ JPMorgan: The world's food supplies face a bleak future. These are the 3 biggest threats, and the companies best-positioned to tackle food insecurity.
▼ + stars: | 2023-08-25 | by ( Mark Reeth | ) www.businessinsider.com time to read: +10 min

Investors need to know exactly where the threats to the world's food supply are coming from, what themes are beginning to emerge in this new reality, and how they should be investing. New threats to the world's food supplyIn her report, Chang highlighted the ongoing problems affecting the world's food supply: war, weather, and the weaponization of food. One of the most devastating recently implemented restrictions on food supply is India's decision to ban the exportation of non-Basmati white rice. The combination of war, weather, and the weaponization of food has taken a toll on the world's food availability. And within food innovation, JPMorgan analysts like Philippine food and beverage maker Monde Nissin (MONDE PM) and Thailand-based seafood producer Thai Union (TU TB).

Persons: UNICEF — that's, Global Research Joyce Chang, Chang, El, Hilary, CJ Cheiljedang, Mengniu Dairy, Kubota, Jeronimo Martins SGPS Organizations: JPMorgan, Hurricanes, UNICEF —, Global Research, Grain Initiative, Food Policy Research, Food, Agriculture Commodities, ASEAN, Mahindra, LG, Thai Union, TU, Jeronimo Martins SGPS SA, Tesco PLC, J Sainsbury PLC, Koninklijke Ahold Delhaize, Carrefour SA, Yara International ASA, OCI, OCI NA, Bayer AG, PepsiCo Locations: Ukraine, California, Canada, East Coast, Russia, Africa, Asia, India, El, South Korean, HK, South Korea, Philippine, Thailand, Europe

Stick with us, and we'll show you the best options for where to buy Beyoncé tickets today. The 2023 Renaissance World Tour kicked off with an international leg in Sweden on May 10, 2023. If you're aiming to buy tickets for the final performances of Beyoncé's Renaissance World Tour, we've got you covered. See also: Where to buy Bruce Springsteen ticketsBeyoncé 2023 Renaissance tour scheduleThe Renaissance World Tour still has 13 concert dates across nine cities, including three shows in Inglewood, California. Vivid Seats offers similar price ranges for standard Renaissance World Tour tickets, ranging from about $100 in Las Vegas to $375 in Houston.

Persons: Beyoncé, Bey, we've, Bruce Springsteen, Santa, Kevin Mazur Organizations: Las, Kansas City, Ticketmaster, Vivid, Beyoncé's, showtime Locations: Sweden, North America, United States, Canada, StubHub, Inglewood , California, Vancouver, Houston , Texas, Las Vegas, Santa Clara, Inglewood, CA, BC, Seattle, WA, Arlington, TX, Houston, Orleans, LA, Kansas, Las Vegas , Nevada, Stockholm, Beyoncé's, Kansas City , Missouri

☆ Fact Check-Fox News did not report Newsom tried removing Trump from future ballots
▼ + stars: | 2023-08-23 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

Fox News did not report that California Governor Gavin Newsom was removing Trump’s name from future ballots, contrary to a claim circulating on social media. Social media users have shared the following text: “BREAKING NEWS: FOX News reports Ca. Gavin Newsom is the first Governor to say Donald Trump is not eligible for future presidential elections & has asked the California’s State Assembly to pass a bill that will remove Trumps name on any future ballots.”Examples can be seen (here), (here), (here). A search through the governor’s official social media accounts also returned no results matching the claim (www.facebook.com/CAgovernor/), (www.instagram.com/gavinnewsom/), (twitter.com/GavinNewsom). Fox News did not report that Gavin Newsom was removing Trump’s name from future ballots.

Persons: Gavin Newsom, Donald Trump, Brandon Richards, Newsom, Read Organizations: Fox, Social, FOX, Gov, Assembly, Fox News, Reuters Locations: California, California’s

As of January 2023, residential mortgage debt stood at C$2.08 trillion ($1.53 trillion), according to the Canada Mortgage and Housing Corporation (CMHC). Mortgage rates tend to track moves in the bond market with a lag. At 6.79%, the five-year mortgage rate posted by major Canadian banks has climbed to its highest since November 2008, data from the Bank of Canada shows. When it is time for renewal, options for homeowners hoping to shop for better interest rates might be limited as they would have to re-qualify for the stress test at the latest interest rates with their new lender. "It certainly is going to be problematic for the Canadian economy if rates stay at this level."

Persons: that's, James Laird, Laird, Daniel Foch, Foch, Stephen Brown, Nivedita Balu, Fergal Smith, Denny Thomas, Jonathan Oatis Organizations: TORONTO, Bank of Canada, Canada Mortgage, Housing Corporation, Ratehub.ca, Bank of, Toronto Regional Real Estate Board, Greater Toronto Area, Reuters, North, Capital Economics, Thomson Locations: United States, Toronto, Greater Toronto, Canada, North America

☆ Canadian Officials Condemn Facebook for News Ban as Wildfires Burn
▼ + stars: | 2023-08-22 | by ( Remy Tumin | More About Remy Tumin | ) www.nytimes.com time to read: +1 min

But instead of simply sharing a link to a story about the wildfires from CPAC, the Cable Public Affairs Channel, the city instructed residents to look up the information on a search engine. “Google: CPAC Canada or www . In the midst of a natural disaster, Yellowknife had to navigate around Facebook’s decision to block news articles on its platform in Canada. Meta, Facebook’s parent company, began rolling out the ban on Aug. 1 in response to a new Canadian law that requires tech companies to pay news outlets for using their content. Canadian lawmakers passed the Online News Act in June, requiring social media platforms like Meta and search engines like Google to negotiate with news publishers to license their content.

Persons: Meta, ” Organizations: Northwest, Facebook, Cable Public Affairs Channel, Google, Meta Locations: Yellowknife, Northwest Territories, Canada, CPAC

☆ Take a look inside this $615,000 abandoned inn turned desert getaway
▼ + stars: | 2023-08-22 | by ( Ernestine Siu | ) www.cnbc.com time to read: 1 min

Sara Combs, 36, and Rich Combs, 37, quit full-time jobs as web designers to start The Joshua Tree House, a hospitality company, in 2015. Three years later, they purchased an abandoned inn in Tucson, AZ for $615,000. The couple took out a hard money loan and renovated the entire property into a luxurious desert getaway. Today, the six-suite inn is available to rent year-round and offers views of Saguaro National Park. The couple also owns three other commercial properties located in Joshua Tree, CA.

Persons: Sara Combs, Rich Combs, Joshua Tree, Joshua Tree , Locations: Tucson, AZ, Joshua Tree

☆ A fast-food restaurant splashed out $12,000 on a bizarre sandwich costume that was auctioned off by a provincial government
▼ + stars: | 2023-08-21 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

A Canadian restaurant spent nearly $12,000 on a donair-sandwich costume in an Alberta government auction. CBC reported that the costume was made for a traffic-safety video but was never worn. It was eventually won by 25-store Alberta chain PrimeTime Donair and Poutine, which made the winning bid of CA$16,025. Other donair stores, including the King of Donair, Blowers & Grafton, and Swiss Donair, also placed bids, auction records showed. The listing said the costume was made from various latexes, vulcanized rubbers, and synthetic materials, and had adjustable shoulder straps.

Persons: Adil Asim, Donair, Peter Gamalakos, Gamoulakos Organizations: CBC, Service, CTV News, Canadian, Food Network, Halifax Locations: Alberta, Wall, Silicon, Grafton, Swiss, Canadian, Edmonton

☆ The top 20 areas real-estate investors are piling into for high population growth, increasing rental demand, or price appreciation, according to a property-data firm
▼ + stars: | 2023-08-20 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

When it comes to single-family homes, it's predominantly investors, according to recent data from CoreLogic, a property-data firm that tracks real-estate transactions. But whether they are small or large investors, they are targeting specific areas, according to the data. "All the others make sense as these have been hot real estate investment areas that have been hot for a very long time in terms of investment. Small investors are active all around the country and make up most of the investors, he said. The below table is based on CoreLogic public records data for single-family transactions.

Persons: Thomas Malone, Goldman Sachs, who's, Malone, upticks, There's Organizations: CoreLogic, Investor, Mega, McAllen, El, San Bernardino -, Thousand Oaks, Beaumont, UT, KS Locations: CoreLogic, California, Jose, Sunnyvale, Santa Clara, CA, Angeles, Long, Anaheim, Edinburg, Mission, Brownsville, Harlingen , TX, Atlanta, Sandy Springs, Roswell, Francisco, Oakland, Hayward , CA, El Paso , TX, Diego, Carlsbad, Fresno, Modesto, Riverside, San Bernardino, San Bernardino - Ontario, Oxnard, Ventura, Santa Rosa, Stockton, Lodi , CA, Albuquerque, NM, Port Arthur, TX, Memphis, TN, Salt Lake City, Christi , TX, Wichita

☆ Self-driving car company Cruise agreed to reduce its driverless fleet by 50% after a spate of recent crashes. San Francisco officials previously pushed for a slower rollout of robotaxis.
▼ + stars: | 2023-08-20 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

City officials previously told Insider the approval would be "premature." Cruise, a self-driving car company, agreed to slash its driverless taxi operation in San Francisco by half on Friday following reports of two separate crashes involving its vehicles. One Cruise vehicle also drove into wet concrete at a construction site. Another collision occurred that evening, in which another vehicle ran a red light "at a high rate of speed," the company told Insider. Tilly Chang, executive director of the San Francisco County Transportation Authority (SFCTA), previously told Insider that her agency believes approving the permits would be "premature."

Persons: Alphabet's Waymo, Darcie Houck, robotaxis, Cruise, San Francisco, Tilly Chang, Chang, We've, Joe Castiglione, SFCTA's, CPUC, Castiglione Organizations: California Department of Motor Vehicles, DMV, California Public Utilities Commission, CBS, City, San, San Francisco County Transportation Authority Locations: California, San Francisco, San Francisco County, —

☆ TikTokers aren't McLovin' a 'trash' McDonald's clothing collaboration with skate brand Palace
▼ + stars: | 2023-08-19 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

McDonald's launched a clothing range in collaboration with British skate brand Palace this week. The McDonald's x Palace pop-up is loading. TikTok user Sneaker Supplier said it's "outrageous" that McDonald's and the skateboarding and clothing company are charging £118 ($150) for a hoodie with its logo. "£118 to put a McDonald's logo and type out Palace is kind of outrageous," Sneaker Supplier said. McDonald's and Palace didn't immediately respond to requests for comment from Insider, made outside normal working hours.

Persons: McDonald's, TikToker Ryan Sullivan, Kayhooz, didn't Organizations: British, Service, McDonald's, Always Air Forces Locations: Wall, Silicon, Downey , California, Downey , CA

☆ 8 of the world’s best new theme parks
▼ + stars: | 2023-08-18 | by ( Kate Springer | ) edition.cnn.com time to read: +13 min

Peppa Pig Theme Park, FloridaFlorida's Peppa Pig Theme Park opened in 2022. Peppa Pig Theme ParkThe world’s first Peppa Pig Theme Park opened last year in Winter Haven, Florida, and has been delighting children with wholesome fun ever since. Look out for another Peppa Pig Theme Park, opening in Dallas, Texas, next year. Peppa Pig Theme Park. Genting SkyWorlds Theme Park, MalaysiaMalaysia's Genting SkyWorlds Theme Park offers 26 attractions across nine themed areas.

Persons: we’re, Katmandu, Kilgore Goode, Kyle Grillot, Peach’s, Mount Beanpole, Mario, Bowser, Bowser Jr, Tomohiro Ohsumi, Miyazaki’s, There’s, LEGOLAND, gil, Aquaverse, there’s, Chang, Potato’s, Grandad, Wynter, ” Organizations: CNN, Northern, Columbia Pictures, Super Nintendo, California Mario Kart, Universal Studios Hollywood, Bloomberg, Universal Studios Japan, Mushroom Kingdom, Toadstool, Nintendo, Universal City Plaza, Universal, Ghibli, Ghibli Park, South Korea LEGOLAND, LEGOLAND, Thailand Columbia Pictures, Columbia, Lotte, Adventure, South Korea Lotte, Adventure Busan Lotte, Tinker, Potato’s Showtime, Genting, Andromeda Base, Plaza, Genting SkyWorlds Locations: Japan, Thailand, Punta Cana, Dominican Republic, Caribbean, Nepal, Av, Alemania, California, Bowser’s, Mount, Universal City , CA, Nagoya, Nagakute, Aichi, Korea, South Korea, York, Legoland, LEGOLAND Korea, Chuncheon, Seoul, Gangwon, Asia, Pattaya, Bangkok, Transylvania, Chon, Adventure Busan, Tinker Falls, “ Queen, “, Busan, Florida, Winter Haven , Florida, Dallas , Texas, Wynter Haven , Florida, Malaysia, Resorts, Kuala Lumpur, Rio, Liberty Lane, Central Park, Genting, Genting Highlands, Pahang

"The Boss" is on tour with the E Street Band through December 2023, with tour tickets still on sale for prospective attendees. If you're aiming to buy Bruce Springsteen tickets for the last leg of his 18th headlining tour, we've got you covered. Bruce Springsteen 2023 tour scheduleThe fall tour dates for Bruce Springsteen include 27 remaining shows in the U.S. and Canada. The cost of original Bruce Springsteen tickets vary depending on location and date. Mat Hayward/Getty ImagesThe final leg of Bruce Springsteen's 2023 concert tour includes international dates in Canada.

Persons: Bruce Springsteen, Springsteen, we've, Foxborough, Bruce Springsteen's, Sam Fender, Frank Turner, Tash Sultana, Steven Van Zandt, Mike Weinberg, Garry Tallent, Roy Bittan, Nils Lofgren, Patti Scialfa, Mat Hayward Organizations: Broadway, NY, San, Ticketmaster, Vivid, showtime, Garden, Getty Locations: U.S.A, United States, North America, U.S, Canada, Rutherford, NJ, Syracuse, Baltimore, Pittsburgh, Uncasville, Albany, NY, Columbus, Washington, Vancouver, BC, Edmonton, Calgary, AB, Winnipeg, Toronto, ON, Kanata, Montréal, Quebec, Phoenix, AZ, San Diego, Inglewood, CA, San Francisco, Springsteen's Rutherford , New Jersey, Columbus , Ohio, White Buffalo, Boston , Massachusetts, Europe

Senator Dianne Feinstein (D-CA) attends a Senate Judiciary Committee executive business meeting to vote on legislation and pending nominations before the committee, on Capitol Hill in Washington, U.S., May 11, 2023. REUTERS/Kevin Lamarque/File Photo Acquire Licensing RightsWASHINGTON, Aug 15 (Reuters) - U.S. Democratic Senator Dianne Feinstein has filed a lawsuit alleging financial elder abuse and breach of trust by the trustees of her late husband's estate, with the legal filing seeking their removal over the alleged wrongdoing. The lawsuit alleges that the trustees committed "financial abuse" of Feinstein by "wrongfully withholding distributions to which (her late husband's) trust entitles her in bad faith and diverting assets that they should have used to fund" the senator's trust. The attorney added: "The trustees have always respected Senator Feinstein and always will. First elected to the Senate in 1992, Feinstein has said she will not seek re-election in 2024.

Persons: Dianne Feinstein, Kevin Lamarque, Katherine Feinstein, Feinstein, Richard Blum, Steven Braccini, Michael Klein, Marc Scholvinck, Kanishka Singh, Sandra Maler Organizations: Capitol, REUTERS, Rights, Democratic, California Superior Court, Democrats, Senate, San Francisco Chronicle, Committee, Thomson Locations: Washington , U.S, California, County, San Francisco, Washington

☆ Hawaiian Electric shares drop 30% on concern about potential liability from Maui wildfires
▼ + stars: | 2023-08-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +1 min

A Mercy Worldwide volunteer makes damage assessment of charred apartment complex in the aftermath of a wildfire in Lahaina, western Maui, Hawaii on August 12, 2023. Shares of Hawaiian Electric tumbled more than 35% on Monday amid Wall Street concerns about the company's potential liability in the Maui wildfires. On Saturday, a class-action lawsuit was filed against the utility company, which oversees Maui Electric, that alleged the destruction "could have been avoided" if the company shut down its power lines before the high winds hit, NBC News reported. At least 96 people have died in what is now the deadliest U.S. wildfire in more than a century. Wells Fargo subsequently lowered its price target on the stock to $25 per share from $35 on Sunday.

Persons: Wells Fargo, Jonathan Reeder Organizations: Mercy Worldwide, Electric, Maui Electric, NBC News, & $ Locations: Lahaina, Maui, Hawaii, CA

☆ Robotaxis get the green light to roam the streets of San Francisco at any hour of the day
▼ + stars: | 2023-08-11 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Cruise and Waymo got the go-ahead from state officials Thursday to offer driverless rides 24/7. Robotaxi companies Cruise and Waymo have been given the go-ahead from state officials to offer driverless rides in San Francisco at any hour of the day. Before it got the green light from officials, Cruise and Waymo had been authorized to offer its services from 10 p.m. to 6 a.m in limited areas of San Francisco. "Today's permit marks the true beginning of our commercial operations in San Francisco," Waymo co-CEO Tekedra Mawakana said in a blog post . San Francisco firefighters were forced to smash the front window of a Cruise driverless taxi in January to stop it from running over their hoses as they were engaged in active firefighting.

Persons: Cruise, Waymo, CPUC, Kyle Vogt, Tekedra Mawakana, Darcie Houck, Francisco firefighters, AVs, John Reynolds, Waymo didn't Organizations: California Public Utilities, Morning, California Public Utilities Commission Locations: California, San Francisco, Los Angeles, Mountain, Francisco

☆ House Republicans are furious about Hunter Biden special counsel
▼ + stars: | 2023-08-11 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

WASHINGTON — After more than two years of demanding that the Justice Department appoint a special counsel to investigate Hunter Biden, Republicans in Congress finally got their wish on Friday. "If Weiss negotiated the sweetheart deal that couldn't get approved, how can he be trusted as a Special Counsel?" Republicans argued that a special counsel probe would effectively draw a curtain around evidence they are seeking. "Now, Merrick Garland expects us to trust Weiss to be the Special Counsel that finally brings Hunter Biden to justice," said Leavitt. "The Biden Justice Department is trying to stonewall congressional oversight as we have presented evidence to the American people."

Persons: Kevin McCarthy, WASHINGTON —, Hunter Biden, General Merrick Garland's, Joe Biden's, Weiss, couldn't, McCarthy, David Weiss, Donald Trump, Biden, Department's, Karoline Leavitt, Merrick Garland, Leavitt, James Comer, coverup, Comer, Jim Jordan, Russell Dye, Dye, Hunter Organizations: National Defense, U.S, Capitol, WASHINGTON, Justice Department, Republicans, Congress, GOP, Justice, PAC, Make, Inc, CNBC, Biden Justice Department, Biden, Department Locations: Washington , DC, Delaware, Ky, Ohio

☆ Congresswoman Waters 'deeply concerned' about PayPal's stablecoin launch
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +1 min

Representative Maxine Waters (D-CA) walks in the chamber of the U.S. House of Representatives ahead of President Joe Biden's first State of the Union Address in the U.S. Capitol in Washington, DC, U.S, March 1, 2022. Sarahbeth Maney/Pool via REUTERSAug 9 (Reuters) - Democrat Congresswoman Maxine Waters said on Wednesday she was "deeply concerned" about payment giant PayPal (PYPL.O) launching its own stablecoin in the absence of a federal framework to regulate digital assets. Earlier this week, PayPal became the first major financial technology firm to embrace digital currencies for payments and transfers with the launch of a U.S. dollar stablecoin, dubbed PayPal USD. "Given PayPal's size and reach, Federal oversight and enforcement of its stablecoin operations is essential in order to guarantee consumer protections and alleviate financial stability concerns," Waters said in a statement. Similar attempts by other well-known non-crypto companies, including Meta Platforms (META.O), to launch a stablecoin have met fierce opposition from financial regulators and policymakers around the world.

Persons: Maxine Waters, Joe Biden's, Sarahbeth, Waters, Manya Saini, Shinjini Organizations: U.S . House, U.S, Capitol, REUTERS, PayPal, Meta, U.S . House Financial, Thomson Locations: Washington , DC, U.S, Bengaluru

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