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☆ Mitch McConnell might be freezing up in public because he's having small seizures, doctors suggest
▼ + stars: | 2023-08-31 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +4 min

Mitch McConnell froze once again during a press conference on Wednesday. Doctors have speculated that the Senate Minority Leader may be experiencing seizures. Last month, McConnell had a similarly awkward moment when he abruptly stopped speaking during a press conference at the Capitol. AdvertisementAdvertisementThe supposed seizures could be connected to a series of falls and a concussion in March experienced by McConnell, Thaler told WCVB-TV. Vossel said that age is a major risk factor for these types of seizures, more so than experiencing a fall, per DailyMail.com.

Persons: Mitch McConnell, Doctors, McConnell, David Thaler, Thaler, WCVB, Keith Vossel, DailyMail.com, Vossel, Jonathan Reiner Organizations: Wednesday, Service, CNN, Capitol, Tufts Medical Center, WCVB, University of California, Johns Hopkins Medicine, George Washington University Locations: Wall, Silicon, Los Angeles

☆ I'm a millennial with dreams of owning my own home, but the cutthroat real-estate market has kept me living with my parents in Florida
▼ + stars: | 2023-08-29 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +6 min

PR account executive David Triana, 27, moved back in with his parents in Clermont, Florida, in 2019. He and his fiancé want to live in Davenport or Clermont, Florida, where the median home sales prices are $363,000 and $475,000, respectively, according to Redfin. I'm an account executive at a PR firm and I currently live in Clermont, Florida, a town that is 45 minutes southwest of downtown Orlando. The real-estate market in Orlando is hotThe greater Orlando area has become busier and there's a lot of new real-estate development. A sidewalk in Clermont, Florida.

Persons: David Triana, homeownership, I've, We're Organizations: Service, Disney Locations: Clermont , Florida, homeownership, Wall, Silicon, Florida, Davenport, Orlando, Puerto Rico, Cuban, United States, Texas, Winter, Clermont

☆ Abbott's Texas National Guard set up a secret spy operation and treated the border like it was the war in Iraq: whistleblowers
▼ + stars: | 2023-08-29 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +3 min

Texas National Guardsmen set up a secret spying mission by using WhatsApp to snoop on migrants, a watchdog found. Top brass in Operation Lone Star — a state-run effort to combat illegal immigration — "wanted to pretend it was like Iraq," one servicemember told The Texas Tribune and The Military Times. Insider has reached out to the Texas National Guard for comment. After whistleblowers reported the WhatsApp surveillance, leaders in the Texas National Guard shut down Operation Lone Star's intelligence unit, the report said. The Texas Military Department's inspector general also investigated the activity and determined it was an unauthorized foreign intelligence operation, the outlets reported.

Persons: snoop, Greg Abbott, Greg Abbott's, Tuesday's, weren't, David Tyler Organizations: Texas National Guardsmen, Lone Star, The Texas Tribune, The Military Times . Texas Gov, National Guardsmen, Service, Gov, Texas Tribune, The Military Times, The Tribune, Operation Lone Star, Tribune, Texas National Guard, Star, Texas Gov, Department of Homeland Security, feds, DHS, The Texas Military Locations: Iraq, Wall, Silicon, Texas, Rio Grande, Lt

☆ The CEO of an investment research firm who correctly called the crashes of Coinbase and Snap warns that Nvidia trades at a 'ridiculously high' valuation and is almost 400% above fair value. Here are 3
▼ + stars: | 2023-08-24 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Nvidia has captured the hearts of investors, but at least one market veteran refuses to show the artificial intelligence pioneer any love. "Nvidia is the stock market's new Tesla, where the market blindly assigns a ridiculously high and unrealistic valuation," Trainer wrote in an email to Insider on August 24. Trainer continued: "Investors should not be chasing Nvidia stock, as it is way too expensive. "While we recognize that artificial intelligence is an exciting technology and Nvidia is a great company, investors must pay attention to a company's valuation," Trainer wrote. To live up to its current valuation, Nvidia would have to increase revenue by 20% per year for the next 25 years, the investment research firm CEO wrote.

Persons: Nvidia's, David Trainer, We're, SIMO Organizations: Nvidia, Bank of America, Rosenblatt Securities, KLA Corporation, Motion Technology Locations: Santa Clara, Nashville

☆ Hedge funds are embracing these near-term AI beneficiaries, according to Goldman
▼ + stars: | 2023-08-22 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Hedge funds showed great enthusiasm toward tech stocks tied to artificial intelligence during the second quarter, including Nvidia , according to Goldman Sachs. Goldman equity analysts then identified 11 stocks as near-term AI beneficiaries. The smart money hedge funds continued to load up on Nvidia at a rapid pace last quarter following the chipmaker's blowout forecast. Hedge funds also piled into Big Tech names Microsoft , Meta and Amazon, which all have recently made developments surrounding AI. Several hedge funds also added a lesser-known semiconductor name, Credo Technology , last quarter.

Persons: Goldman Sachs, Management's David Tepper, Meta, Goldman, Value's Jeffrey Smith, there's, — CNBC's Michael Bloom Organizations: Nvidia, Big Tech, Microsoft, Meta, OpenAI, Technology, Semiconductor, Marvell Technology

☆ China launches drills in angry response to Taiwan vice president's trip to U.S.
▼ + stars: | 2023-08-19 | by ( ) www.cnbc.com time to read: +4 min

The U.S. says it's closely monitoring China's drills around Taiwan after Beijing began three days of military exercises around the island. Greg Baker | AFP | Getty ImagesChina launched military drills around Taiwan on Saturday as a "serious warning" to separatist forces in an angry but widely expected response to Vice President William Lai's visit to the United States, drawing condemnation from Taipei. Taiwan's government strongly condemned the drills, with the defense ministry saying it had the ability, determination, and confidence to ensure national security. "The Republic of China, Taiwan, is a sovereign country and has a legitimate and legal right to conduct normal diplomatic interactions with friendly countries," it added in a statement, using the island's formal name. Taiwan's defense ministry released a short video of undated footage showing Taiwanese forces at sea, on city streets and across the countryside.

Persons: Greg Baker, William Lai's, Joseph Wu, Joe Biden Organizations: PLA Navy, Beijing, AFP, Getty Images China, Eastern Theatre Command, Mainland Affairs Council, U.S, Taiwan Locations: Taiwan, China's, Fujian, U.S, United States, Taipei . Lai, Paraguay, China, Beijing, Republic of China, South Korea, Japan

☆ Huy Fong Foods' sriracha shortage has been ongoing for three years. Here's why it could have been prevented
▼ + stars: | 2023-08-19 | by ( Ryan Baker | ) www.cnbc.com time to read: +3 min

Huy Fong Foods' sriracha hot sauce, in the green-capped bottle with the rooster label, has been hard to find for the past few years. Strained supplier relations coupled with adverse agricultural conditions have left Huy Fong Foods' sriracha out of stock at many grocers nationwide. Underwood Ranches, a farm owned by Craig Underwood based in Ventura County, California, supplied Huy Fong Foods' peppers for 28 years. Huy Fong Foods claimed it overpaid Underwood Ranches for its crops from the 2016 season. Huy Fong Foods declined CNBC's request for an interview.

Persons: Huy Fong, Underwood, Craig Underwood, David Tran, Jane Wells, Fong, Stephanie Walker Organizations: Huy Fong Foods, Huy Fong, CNBC, New Mexico State University Locations: Ventura County , California, Huy, Ventura County, California, California , New Mexico, Mexico, North America

☆ WeWork announces 1-for-40 reverse stock split to avoid getting kicked off the New York Stock Exchange
▼ + stars: | 2023-08-18 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

The troubled company, which operates co-working spaces, said it will proceed with a 1-for-40 reverse stock split of its outstanding shares, meaning that 40 shares of WeWork stock will be swapped for a single share. The reverse stock split is a bid to boost WeWork’s ailing stock price and save its shares from getting delisted. WeWork’s reverse stock split will be effective at 4:01 pm Eastern Time on September 1 and begin trading post-split at the market open on September 5. As part of the plan, WeWork said it will try to lower rent costs by renegotiating more favorable lease terms for its office spaces. Members pay to rent desks at WeWork’s office spaces.

Persons: CNN —, WeWork, Adam Neumann, Sandeep Mathrani, David Tolley Organizations: CNN, New York Stock Exchange, NYSE

☆ Biden nods to Camp David history by inviting Yoon, Kishida
▼ + stars: | 2023-08-17 | by ( Steve Holland | ) www.reuters.com time to read: +4 min

Most famously, President Jimmy Carter brokered the Camp David accords in 1978 between Egyptian President Anwar al-Sadat and Israeli Prime Minister Menachem Begin. The first foreign leader to visit Camp David, then known as "Shangri-La," was British Prime Minister Winston Churchill who was there for World War Two talks with Roosevelt. Eisenhower, who named Camp David for his father and grandson, would grill steaks for family and friends. One time George W. Bush hosted Russian leader Vladimir Putin at Camp David and introduced Putin to his Scottish terrier, Barney. The seemingly mundane at Camp David can sometimes erupt into major headlines, like the time President George H.W.

Persons: Joe Biden, Vladimir Putin, Biden, David, Camp David, Japan's Fumio, Korea's Yoon Suk Yeol, Franklin Roosevelt, Jimmy Carter, Anwar al, Sadat, Menachem Begin, Winston Churchill, Roosevelt, Churchill, Nikita Krushchev, Dwight Eisenhower, Bill Clinton, Ehud Barak, Yasser Arafat, Arafat, Clinton, ” Clinton, “, ”, Harry Truman, Ronald Reagan, Donald Trump, Eisenhower, George W, Bush, Carter, Putin, Barney, George H.W, Marlin, Marlin Fitzwater, Steve Holland, Heather Timmons, Grant McCool Organizations: U.S, ., ROK, Works Progress Administration, Israeli, British, Cuban Missile Crisis, White, Camp, Thomson Locations: Ukraine, Camp, Thurmont, WASHINGTON, Japan, South Korea, Maryland, U.S, Laurel Lodge, Aspen Lodge, Roosevelt . U.S, Catoctin, Soviet, Russian, Russia

CNN —President Joe Biden is using the presidential retreat at Camp David to help with a diplomatic mission – hosting the first-ever trilateral summit with Japan and South Korea, two countries that are putting aside a fraught history in the face of shared security challenges. The gathering will mark the first time Biden is hosting foreign leaders at the Camp David retreat, a site of historic diplomatic negotiations for past presidents. From the start of his administration, Biden has sought to draw Asian allies like Japan and South Korea closer, in part, to counter an ascendant China. Biden’s first foreign leader visits at the White House were Japan and South Korea, and he visited the countries back-to-back in May 2022. Biden has worked to foster his individual relationships and cooperation with South Korea and Japan.

Persons: Joe Biden, David, Fumio Kishida, Yoon Suk, Biden, ”, Camp David, Yoon, ” Rahm Emanuel, Biden’s, Jake Sullivan, Kishida, “, ” Biden, serenaded, Don McLean, Yoon’s, Yoon Ki Jung, Franklin D, Roosevelt, Dwight D, Eisenhower, Winston Churchill, Jimmy Carter’s, Bill Clinton, Ehud Barak, Yasser Arafat, Barack Obama, Donald Trump Organizations: CNN, Japanese, South, Camp, Japan, Brookings Institution, ”, White, NATO, Korean, US, White House, South Korean, British, Camp David Accords, Israeli Locations: Japan, South Korea, North Korea, China, Catoctin, Maryland, Seoul, Tokyo, Korea, Korean, Pyongyang, Beijing, Madrid, Hiroshima, Annapolis , Maryland, Ukraine, Washington, Delaware, Israel, Egypt

☆ Are office buildings the next 'Big Short' or the next widow-maker trade? The trader behind the ubersuccessful mall short shares his playbook for making money without flaming out.
▼ + stars: | 2023-08-17 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +16 min

Dan McNamara's Polpo Capital is shorting office real estate, a risky move that could be lucrative. If you're looking for a doomsday vision of commercial real estate, you can find it there. "I don't think this is the 'Big Short,'" McNamara told me. This doesn't mean he doesn't have a game plan to make money off cultural shifts that could forever change the state of commercial real estate. Lucas Jackson/ReutersWhere he's going longOne risk of shorting real estate is that it's more susceptible to what's known in real-estate circles as "extend and pretend."

Persons: Dan McNamara's, McNamara, it's, It's, shorting, Carl Icahn, Jim Chanos, Brendan McDermid, Dan McNamara, McNamara's, Braver Stern, Dan McNamara McNamara's, suede loafers, McNamara didn't, Josh Nester, Polpo, he's, Morgan Stanley, Kamil Sadik, Lucas Jackson, Manus Clancy, You've, David Tepper's, Trepp's Clancy, Clancy, David Tepper Organizations: Central Park, New, Polpo, New York University, Columbia, Kynikos Associates, Enron, Asset Management, Reuters, UBS, Co, Societe Generale, Securitized Credit Partners, Credit Suisse, MP, Fund, Bloomberg, of America, Simon Property, Federal Locations: Manhattan, Sixth, Central, New York City, New York, MatlinPatterson, America, China, Italy, Westchester , New York, Tribeca, York, Westchester, Waterford , Connecticut, Baltimore, San Francisco

☆ Activists ease up on Salesforce — plus, 10 other Club stocks traded by Wall Street pros
▼ + stars: | 2023-08-16 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +10 min

The extraordinary activist-investor interest in Salesforce (CRM) eased further in the second quarter, according to the latest regulatory filings from influential Wall Street pros. His firm still owned about 2 million Salesforce shares as of June 30. Tepper also bought 2.3 million shares of Advanced Micro Devices (AMD) and 480,000 shares of Apple (AAPL) during the second quarter. As a result, Appaloosa's holdings as of mid-August may differ significantly from the conclusion of the second quarter. GOOGL YTD mountain Alphabet YTD performance Bets on Google's parent company, Alphabet (GOOGL), varied in the second quarter.

Persons: Dan Loeb's, Jeff Smith's, Salesforce, Jeffrey, Starboard's Jeff Smith, Smith, he's, 13Fs, it's, Marc Benioff, Mason Morfit, Paul Singer's Elliott, Elliott, Elliott —, Nelson Peltz's, Bob Iger, Peltz, David Tepper, Tepper, Bill Ackman's, Seth Klarman, Loeb, Klarman, Stanley Druckenmiller, Druckenmiller, Eli Lilly, That's, Jim Cramer's, Jim Cramer, Jim, Kim Kulish Organizations: Inclusive Capital, CNBC, Paul Singer's Elliott Management, Constellation, Club, Constellation Brands, Corona, Modelo, DIS, Disney, Management, Walt Disney Co, Peltz, Nvidia, Appaloosa Management, Microsoft, Micro Devices, Apple, AMD, Bill Ackman's Pershing, Capital Management, Oracle, Duquesne Family Office, Jim Cramer's Charitable, Corbis, Getty Locations: Salesforce, Tuesday's

☆ Hedge funds bought these Chinese technology stocks in the second quarter
▼ + stars: | 2023-08-16 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Big investors took a selective approach to China-based technology stocks in the second quarter, recent regulatory filings suggest. Technology stocks continued their upward trend during the second quarter, including a slew of 2022's China-based tech losers. The fund scooped up a fresh position in e-commerce company JD.com worth nearly $64 million, and bought up China-focused exchange-traded funds KraneShares CSI China Internet (KWEB) and iShares China Large-Cap (FXI) . Other hedge funds raising bets on the company included Third Point's Dan Loeb, while Viking Global's Ole Andreas Halvorsen opened a minor stake worth $77.7 million. Not every investor bet big on the sector during the second quarter.

Persons: David Tepper's, Point's Dan Loeb, Ole Andreas Halvorsen, Baidu, Management's Philippe Laffont, Dan Sundheim, Tiger Global's Chase Coleman, — CNBC's Michael Bloom Organizations: Technology, Reuters, Retail, CSI China Internet, Viking, Li, PDD Holdings, Kanzhun Locations: China, Alibaba

☆ Hedge funds beefed up A.I. bets in the second quarter
▼ + stars: | 2023-08-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

2023 has been the year for artificial intelligence stocks, and hedge funds in the second quarter beefed up their bets on the growth sector despite its sharp run up this year. Doubling down on Big Tech Despite the uptick in tech shares by the end of the first half, many hedge funds amped up their bets on Alphabet during the second quarter. David Tepper's Appaloosa bet big on AI winners , growing positions in Alphabet, Amazon , Meta Platforms and Microsoft during the period. Betting on chip stocks Nvidia shares have popped 200% as the company triumphs as AI chipmaker to beat this year. Beyond these pure-play AI bets, Coleman added to semiconductor Lam Research .

Persons: Bill Ackman's, Dan Loeb's, David Tepper's, Baupost's Seth Klarman, Philippe Laffont's Coatue, Tiger Global's Chase Coleman, Mark Zuckerberg's, Dan Sundheim's, Ole Andreas Halvorsen, Loeb, Coleman, Sundheim, Baupost, Keith Meister's, Laffont, Yun Li, Sarah Min, Brian Evans Organizations: Big Tech, Microsoft, Tiger Cub, Management, Apple, Amazon, Facebook, Meta, Nvidia, Devices, Viking, Taiwan Semiconductor, Micron Technology, AMD, Intel, Qualcomm, Broadcom, Marvell Technology, Materials, Global, Lam Research, Netflix, Viking Global, NXP Semiconductors, Semiconductor Locations: Apple, Amazon

☆ 3-Stock Lunch: DHI, DFS, LCID
▼ + stars: | 2023-08-15 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email3-Stock Lunch: DHI, DFS, LCIDDavid Trainer, New Constructs CEO, joins ‘Power Lunch’ to discuss three stocks: D.R. Horton Inc,, Discover Financial and Lucid.

Persons: David Trainer Organizations: DFS, Horton Inc, Discover

☆ David Tepper’s Appaloosa hedge fund piles into host of A.I.-related stocks
▼ + stars: | 2023-08-14 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Appaloosa Management's David Tepper doubled down on several stocks tied to the artificial intelligence boom in the last quarter, a new regulatory filing revealed. The hedge fund manager hiked his stake in Nvidia drastically, making it his biggest holding at the end of June, worth $432 million. Appaloosa's top holdings also included big-tech names Meta , Microsoft , Amazon and Alphabet , which have all recently highlighted their AI capabilities. Meta recently unveiled its own AI computer chips . Tepper remains one of the most successful and richest hedge fund managers in the world, known for his skillful maneuvers through market crises.

Persons: David Tepper, Meta, Tepper Organizations: Nvidia, Microsoft, Google, OpenAI, AMD, Intel, Qualcomm, Marvell, Broadcom, Taiwan Semiconductor

☆ Fox's legal head to step down in another major exit after Dominion settlement
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike Segar/File PhotoAug 11 (Reuters) - Fox Corp (FOXA.O) said on Friday that Chief Legal Officer Viet Dinh was stepping down, a high-profile exit that follows its $787.5 million settlement in April of a defamation lawsuit filed by Dominion Voting Systems over its 2020 U.S. election coverage. Top-rated host Tucker Carlson agreed to part ways with Fox in April, just days after the legal resolution. As part of a separation agreement, Dinh will get a lump-sum cash payment of $23 million, Fox said. He will become a special adviser to the company after leaving the role of legal head. In June, Fox Corp also settled a lawsuit by former Fox News producer Abby Grossberg, who claimed gender discrimination and accused the network's lawyers of pressuring her to make misleading statements in the Dominion Voting Systems case.

Persons: Mike Segar, Dinh, Tucker Carlson, Fox, George W Bush, Bancroft PLLC, Kirkland & Ellis, Ng, Abby Grossberg, Chavi Mehta, David Thomas, Anil D'Silva, Shilpi Majumdar Organizations: Fox, News Corporation, Fox News, REUTERS, Fox Corp, Dominion Voting Systems, Dominion, Patriot, U.S, D.C, Kirkland &, Voting, Thomson Locations: Manhattan, New York City , New York, U.S, Washington, Bengaluru, Chicago

☆ WeWork just warned it might fail, signaling commercial real estate is in serious trouble
▼ + stars: | 2023-08-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

The shared-workspace giant's woes may spell trouble for commercial real estate as a whole. "Excess supply in commercial real estate, increasing competition in flexible space and macroeconomic volatility drove higher member churn and softer demand than we anticipated, resulting in a slight decline in memberships," he said. What does this mean for commercial real estate? Commercial real estate has been one of the hardest-hit sectors of the US economy over the last year. Its failure could be a "systematic shock" to commercial real estate in many American cities, Stijn Van Nieuwerburgh told The New York Times in June.

Persons: WeWork, David Tolley, Elon Musk, Charlie Munger, Jeff Greene, Ross Perot, Van Nieuwerburgh Organizations: Service, Investors, Federal Reserve, Ross Perot Jr, New York Times, Columbia Business School Locations: Wall, Silicon

☆ From $40 billion to 'going concern' — WeWork warns of possible bankruptcy
▼ + stars: | 2023-08-08 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

"Our losses and negative cash flows from operating activities raise substantial doubt about our ability to continue as a going concern," WeWork said in a filing with the SEC on Tuesday. The company had a net loss in the first half of the year of $700 million after losing $2.3 billion in 2022. WeWork said its revenue grew just 3.6% year over year in the second quarter and declined 4% in the U.S., where it gets 41% of its sales. In the second quarter, the company contributed $6 million of WeWork's revenue, down from $10 million in the second quarter of 2022, according to the filing. Key factors for whether WeWork can remain a going concern include limiting capital expenditures, increasing revenue and seeking capital through debt or equity issuance.

Persons: WeWork, Adam Neumann's, Masayoshi Son, Neumann, Daniel Hurwitz, Sandeep Mathrani, David Tolley Organizations: SEC, SoftBank, U.S, Intelsat, Apple Locations: Australia, Sydney, U.S

☆ Supreme Court revives federal ghost gun restrictions; Roberts and Barrett join liberals
▼ + stars: | 2023-08-08 | by ( Ariane De Vogue | ) edition.cnn.com time to read: +4 min

CNN —The Supreme Court on Tuesday agreed to freeze a lower court order that bars the government from regulating so-called ghost guns – untraceable homemade weapons – as firearms under federal law. Ghost guns are kits that a user can buy online to assemble a fully functional firearm. The rule does not prohibit the sale or possession of any ghost gun kit, nor does it block an individual from purchasing such a kit. A federal appeals court declined to put on hold two key challenged provisions of the regulation. A handful of retailers of ghost gun kits as well as a gun rights’ group also challenged the rule.

Persons: Biden, John Roberts, Amy Coney Barrett, Clarence Thomas, Samuel Alito, Neil Gorsuch, Brett Kavanaugh, Judge Reed O’Connor, Elizabeth Prelogar, ” Prelogar, ” David Thompson, O’Connor, ” O’Connor Organizations: CNN, Alcohol, Tobacco, Firearms, Explosives, United States, Court, Northern, Northern District of, Supreme, ” “, ATF, Control Locations: Northern District, Northern District of Texas, Texas

☆ Supreme Court allows Biden ‘ghost gun’ regulations
▼ + stars: | 2023-08-08 | by ( Lawrence Hurley | ) www.cnbc.com time to read: +4 min

WASHINGTON — A divided Supreme Court on Tuesday allowed the Biden administration to enforce regulations aimed at clamping down on so-called ghost guns — firearm-making kits available online that people can assemble at home. Plaintiffs also include gun rights groups and makers and sellers of ghost guns. Tuesday's ruling was not a final decision and the Supreme Court could still hear the case and issue a detailed decision on the merits. On July 28, Justice Samuel Alito temporarily put the Texas ruling on hold while the Supreme Court decided on what next steps to take. The ghost guns case, however, is on a separate legal question related to ATF's regulatory authority, not the right to bear arms.

Persons: WASHINGTON, Biden, John Roberts, Amy Coney Barrett, John Feinblatt, Reed O'Connor, Jennifer VanDerStok, Michael Andren, David Thompson, Tuesday's, Elizabeth Prelogar, Samuel Alito Organizations: Alcohol, Tobacco, Firearms, Explosives, of Alcohol, Gun Safety, Manufacturers, ATF, Gun Control, Circuit, Appeals, Supreme Locations: Glendale , California, Texas, New Orleans

☆ WeWork warns it has 'substantial doubt' about whether it can keep going as a business
▼ + stars: | 2023-08-08 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

WeWork warned Tuesday that it had "substantial doubt" about its ability to keep operating. The company reported a loss and a decline in memberships in its second-quarter earnings. Co-working company WeWork is apparently in troubled waters. In its second quarter earnings report on Tuesday, the company said there's "substantial doubt" about its ability to keep going as a business. WeWork reported a net loss of $397 million on consolidated revenue of $844 million for the quarter.

Persons: WeWork, they're, David Tolley, Tolley, Sandeep Mathrani Organizations: Morning, P, NYSE, Bloomberg

☆ WeWork says it has ‘substantial doubt’ about its ability to stay in business
▼ + stars: | 2023-08-08 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

“Substantial doubt exists” about WeWork’s ability to continue to stay in business, due to the company’s losses, projected cash needs, and increased member turnover, according to the company’s second quarter earnings release. WeWork management outlined a plan to improve the company’s financial health, saying that its ability to stay in business is “contingent upon successful execution” over the next 12 months. In the second quarter, the company reported a net loss of $397 million, an improvement compared to its net loss of $635 million in the second quarter last year. The company’s stock plunged more than 20% in after-hours trading on Tuesday. Overall, WeWork’s stock is down 85% since the start of this year.

Persons: David Tolley, WeWork, Adam Neumann, Sandeep Mathrani Organizations: CNN, Sycamore Partners

☆ Appaloosa's billionaire manager David Tepper knows how to skillfully maneuver through market crises
▼ + stars: | 2023-08-04 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Appaloosa Management's David Tepper knows how to skillfully navigate crises, reason enough why he remains one of the most successful and richest hedge fund managers in the world. Eight years later in the aftermath of the dot-com crash, he went all in, betting on distressed credit that later rebounded dramatically. The billionaire investor closed his fund to new investors soon after it scored hefty returns and he rose to fame. Tepper said in 2019 that he planned to convert Appaloosa into a family office. As of the end of the first quarter, Appaloosa's top equity holdings included Alphabet , Amazon and Uber.

Persons: David Tepper, Tepper Organizations: Carnegie Mellon, Global, National Football League's Carolina Panthers

☆ Prosecutor, defense request house arrest for son of Colombian president
▼ + stars: | 2023-08-04 | by ( Luis Jaime Acosta | Thomson Reuters | Luis Jaime Has Worked At Reuters For More Than Years. While He Chiefly Covers Colombia'S Armed Conflict | ) www.reuters.com time to read: +3 min

Defendant and son of Colombian president Gustavo Petro, Nicolas Petro attends a hearing in Bogota, Colombia August 3, 2023 in this screengrab taken from a handout video. Colombian Prosecutor's Office/Handout via REUTERSBOGOTA, Aug 4 (Reuters) - Both the prosecution and the defense in a money laundering and illicit enrichment case against Nicolas Petro, the eldest son of Colombian President Gustavo Petro, on Friday requested house arrest for the younger Petro. Petro, 37, was arrested last weekend in the city of Barranquilla alongside his ex-wife, Daysuris del Carmen Vasquez, who is being held on similar charges. Both prosecutor Burgos and Petro's defense attorney David Teleki supported a house arrest measure in a morning hearing, with Teleki citing the impeding birth of Petro's child with his current partner. According to the charges, Nicolas Petro received money from accused drug traffickers in exchange for including them in the president's peace plans.

Persons: Gustavo Petro, Nicolas Petro, Petro, Daysuris del Carmen Vasquez, Mario Burgos, Burgos, David Teleki, pained, Luis Jaime Acosta, Julia Symmes Cobb, Alistair Bell Organizations: Colombian Prosecutor's, REUTERS, Teleki, Thomson Locations: Bogota, Colombia, REUTERS BOGOTA, Barranquilla, Atlantico province

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