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☆ JPMorgan pays US Virgin Islands $75 million to settle lawsuit alleging the bank aided Jeffrey Epstein's sex trafficking
▼ + stars: | 2023-09-26 | by ( Lauren Del Valle | ) edition.cnn.com time to read: +2 min

New York CNN —JPMorgan Chase has reached a settlement with the US Virgin Islands over a lawsuit alleging the bank enabled Jeffrey Epstein’s sex-trafficking crimes. The settlement includes “significant commitments” by JPMorgan Chase to curtail human trafficking, and a $75 million payment to the US Virgin Islands. Epstein was arrested in 2019 on federal charges of sex trafficking dozens of underage girls. The bank said that $30 million of the settlement will help support charitable organizations working to end human trafficking and to support survivors. Another $25 million will be paid to the USVI to enhance infrastructure and bolster law enforcement.

Persons: JPMorgan Chase, Jeffrey Epstein’s, Epstein’s, Epstein, James “ Jes ” Staley Organizations: New, New York CNN, JPMorgan, US Virgin Islands, Virgin Islands, JPMorgan Chase, of Locations: New York, Virgin, Southern, of New York, Palm Beach

JPMorgan said its $75 million settlement with the USVI includes $30 million to support charitable organizations, $25 million to strengthen law enforcement to combat human trafficking, and $20 million for attorney's fees. Epstein died in August 2019 in a Manhattan jail cell while awaiting trial for sex trafficking. INTERNAL WARNINGSIn July, USVI said it wanted JPMorgan to pay at least $190 million, including a $150 million civil fine, and possibly much more to resolve the lawsuit. Deutsche Bank (DBKGn.DE), where Epstein was a client from 2013 to 2018, in May reached a $75 million settlement with women who said Epstein sexually abused them. Staley has expressed regret for his friendship with Epstein and denied knowing about his sex trafficking.

Persons: Caitlin Ochs, JPMorgan Chase, Jes Staley, Jeffrey Epstein, Epstein, Staley, Ariel Smith, USVI, JPMorgan, Jamie Dimon, Dimon, Nupur Anand, Lananh Nguyen, Jonathan Stempel, Muralikumar Anantharaman, Daniel Wallis 私 Organizations: JPMorgan Chase Bank, REUTERS, JPMorgan, U.S . Virgin, Deutsche Bank, Barclays Locations: New York City, U.S, Manhattan, York, New York

☆ JPMorgan will pay $75 million to settle US Virgin Islands Jeffrey Epstein sex-trafficking claims
▼ + stars: | 2023-09-26 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

JPMorgan is paying $75 million to settle a lawsuit from the US Virgin Islands over links with Jeffrey Epstein. JPMorgan is still pointing fingers at the US Virgin Islands, saying the funds will be used to shore up its law enforcement. AdvertisementAdvertisementJPMorgan Chase has agreed to pay $75 million to settle a civil lawsuit from the US Virgin Islands over claims that it facilitated Jeffrey Epstein's sex trafficking operation. The funds come on top of the $290 million JPMorgan Chase has already agreed to settle a separate class-action lawsuit brought by Epstein victims, to fund a compensation program. Epstein owned two islands in the US Virgin Islands, which were sold by his estate earlier this year to billionaire Stephen Deckoff for $60 million.

Persons: Jeffrey Epstein, Jes Staley, —, Chase, Jeffrey Epstein's, Motley, JPMorgan Chase, Epstein, Staley, Stephen Deckoff, Denise George, Ariel M, Smith, Patricia Wexler, Wexler, Ghislaine Maxwell Organizations: JPMorgan, US Virgin Islands, Service, US, Islands, Motley Rice LLC, Barclays, Virgin, Virgin Islands, Department, Justice, Deutsche Bank Locations: Virgin, Manhattan

☆ Bernstein says investors should take profits in pricey tech stocks such as Nvidia and these others
▼ + stars: | 2023-09-25 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Megacap technology stocks have led most of the 2023 market rally, and it might be time to take some chips off the table, according to one of Wall Street's top technology analysts. Bernstein's Toni Sacconaghi is advising clients to look to take profits on this year's leaders opportunistically. Sacconaghi is rated consistently as the No.1 analyst on IT hardware and electronics manufacturing services by Institutional Investor. Investors flocked to tech stocks, especially the ones tied to the artificial intelligence boom, in the first half of the year. Still, Bernstein kept its neutral rating on tech stocks, adding that investors should turn to quality shares that are more undervalued.

Persons: Bernstein's Toni Sacconaghi, opportunistically, Bernstein, Sacconaghi, — CNBC's Michael Bloom Organizations: Institutional Investor, Nvidia, Meta, Apple, Microsoft, Broadcom

☆ How hydrogen bombs compare to atomic bombs, and how scientists created the most destructive weapon ever
▼ + stars: | 2023-09-24 | by ( Adam Barnes | ) www.businessinsider.com time to read: +11 min

Hydrogen bombs and atomic bombs are both nuclear weapons that can cause mass destruction. But just seven years later an even more destructive nuclear bomb was built — the hydrogen bomb. Whereas hydrogen bombs get their power from a combination of fission and its opposite — nuclear fusion — the binding of atoms. Hydrogen vs. atomic bombs: damage and destructionWhile atomic bomb blasts are measured in kilotons — 1 kt is equivalent to the explosive force of 1,000 tons of TNT — hydrogen bombs are often measured in megatons. AdvertisementAdvertisementBoth atomic and hydrogen bombs are nuclear weapons and therefore create long-lasting, dangerous nuclear fallout.

Persons: Otto Hahn, Fritz Strassman, Hahn, Lisa Meitner, Otto Frisch, Meitner, Frisch, Alex Wellerstein, Wellerstein, Little, Amanda Macias, Tsar, Soviet Union —, Bomba, it's Organizations: Service, Trinity, Stevens Institute of Technology, Little Boy, Lions, TNT, Little, Bravo, US, Hanford , Washington . Department of Locations: Wall, Silicon, United States, Japan, Austrian, Nagasaki, Hiroshima, megatons, Soviet Union, Soviet, Manhattan, Los Angeles, Hanford , Washington

☆ Lawmakers are waking up to the realities of 'gerontocracy.' But don't expect them to do anything about it.
▼ + stars: | 2023-09-20 | by ( Brent D. Griffiths | Bryan Metzger | ) www.businessinsider.com time to read: +8 min

Age limits remain popular, and lawmakers have begun to wake up to the realities of gerontocracy. "I believe everyone deserves the kind of dignity to make their own choices," said Democratic Sen. John Fetterman of Pennsylvania. He also opposes age limits, arguing that people should be able to "choose who they want, no matter how old they are." "Different people age differently, you know, somebody at a younger age may have more impacts due to aging than somebody at an older age. "I don't think it's a problem to be old, I think it's a problem to have a lack of diversity."

Persons: Mitt Romney, Sen, Lindsey Graham, Graham, Romney, Strom Thurmond, Democratic Sen, John Fetterman of, Dianne Feinstein's, Mitch McConnell, Joe Biden, Donald Trump, gerontocracy, Rep, Maxwell Frost, Anna Moneymaker, Gray, Frost, hasn't, Ro Khanna, Khanna, Dianne Feinstein, Saul Loeb, Republican Sen, John Hoeven, Hoeven, Steve Cohen of Tennessee, Marie Gluesenkamp Perez, Gluesenkamp Perez, Feinstein, McConnell, Democratic Sens, Ben Ray Luján, JD Vance Organizations: Service, Utah Republican, Capitol, South Carolina Republican, Democratic, Florida Democrat, Pew Research Service, California, Senate, Getty, Republican, Democratic Rep, Washington, Ohio Locations: Wall, Silicon, John Fetterman of Pennsylvania, Florida, North Dakota, New Mexico

☆ Here’s what major analysts thought of the new iPhone and what to do with Apple’s stock
▼ + stars: | 2023-09-13 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

He highlighted the enhanced photo capabilities on Pro models and called the new double tap feature the most notable upgrade to the Apple Watch. Many analysts expected hikes around $100 and $200 for the beefed up Pro and Pro Max iterations. Apple essentially delivered a $100 price hike on the Pro Max by doing away with the lower storage option. He noted that the hike on the Pro Max skewed to the low end of the Wall Street firm's expectation range. Evercore ISI's Amit Daryanani regarded the event as "mildly disappointing" for bulls hoping for a Pro price increase.

Persons: Toni Sacconaghi, Canaccord Genuity's Michael Walkley, Goldman Sachs, Michael Ng, Wells, Aaron Rakers, Pro Max, iPhones, Atif Malik, Evercore ISI's Amit Daryanani, David Vogt, Samik Chatterjee, Erik Woodring's, Morgan, Apple, Woodring, Sacconaghi, — CNBC's Michael Bloom Organizations: Apple, Apple Watch, Wall, Pro, Citi, UBS Locations: China

☆ Bernstein says this software development firm can grow sales by eight times current levels
▼ + stars: | 2023-09-12 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

GitLab could be a winner in the evergreen software space, according to Bernstein. The firm initiated coverage of GitLab stock with an outperform rating as well as a $62 per share price target. According to the analyst, GitLab operates in a duopoly with Microsoft-owned GitHub, with both companies sharing roughly 70% and increasing market share of cloud development Gits, or code repositories. "GitLab's opening is to become the "Switzerland" platform for CI/CD development pipelines — a durable and large market position," Weed said. Still, the firm noted market constraints on Gitlab's pricing power and product expansion options, noting competition from GitHub, Australian software firm Atlassian and potentially Datadog.

Persons: Bernstein, Peter Weed, GitLab, Weed, — CNBC's Michael Bloom Organizations: Microsoft Locations: Switzerland, GitHub

☆ Next couple of years will be tougher for the consumer, says AllianceBernstein's Jim Tierney
▼ + stars: | 2023-09-12 | 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 EmailNext couple of years will be tougher for the consumer, says AllianceBernstein's Jim TierneyJim Tierney, AllianceBernstein CIO, joins 'Power Lunch' to discuss the state of the consumer and the likelihood of a soft landing.

Persons: Jim Tierney Jim Tierney Organizations: AllianceBernstein

☆ California Gov. Gavin Newsom says he'd appoint a caretaker to the Senate if Dianne Feinstein retires early, arguing it would be 'completely unfair' to tap a candidate so close to the 2024 primary
▼ + stars: | 2023-09-10 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Gavin Newsom said that he'd appoint a caretaker to replace Feinstein should she leave office early. Newsom said he didn't want to "tip the balance" of the 2024 Senate primary by tapping a candidate. Feinstein, who has served in the Senate since 1992, is set to retire after the 2024 elections. "I don't want to get involved in the primary," Newsom told host Chuck Todd. The 90-year-old Feinstein, who has served in the Senate since 1992, is set to retire after the 2024 elections.

Persons: Gavin Newsom, he'd, Feinstein, Newsom, Dianne Feinstein, Adam Schiff, Barbara Lee, Katie Porter, Chuck Todd, Katie Hill, I've, Todd, Schiff, —, Porter, Lee Organizations: Service, Press, California Democrat, San Francisco, Berkeley Institute of Governmental Studies Locations: Wall, Silicon, California

☆ China is not the only thing fueling investor concerns about Apple, says Bernstein's Toni Sacconaghi
▼ + stars: | 2023-09-08 | 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 EmailChina is not the only thing fueling investor concerns about Apple, says Bernstein's Toni SacconaghiToni Sacconaghi, Bernstein Private Wealth Management's Apple analyst, joins 'Squawk on the Street' to discuss the revenue hit Apple could face from restrictions in China, the timeline for Apple's plan to migrate manufacturing outside of China, Apple's quest to maximize international revenue.

Persons: Bernstein's Toni Sacconaghi Toni Sacconaghi Organizations: China, Apple Locations: China

☆ Taylor Swift is single-handedly giving a boost to hotel industry revenue
▼ + stars: | 2023-09-08 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Taylor Swift is providing a gold rush for the hotel industry. The "Cruel Summer" singer's attention-grabbing "Eras" tour has pushed up revenue for hotels in cities across the U.S., according to data from investment firm Bernstein. "This has been a notable boost to the hotel industry," Bernstein analyst Richard Clarke wrote in a note to clients Friday, using the term "Swiftonomics." (Revenue generated per room is calculated by dividing the total hotel revenue by number of available rooms, regardless of whether they were occupied.) Indeed, Clarke said occupancy was 11% higher in Philadelphia during the nights of Swift's tour, while revenue per available room was up 59% on average.

Persons: Taylor Swift, Bernstein, Richard Clarke, Clarke, Swift Organizations: Wall, Federal Reserve Locations: U.S, Nashville, Beyoncé's, Philadelphia

☆ Weinstein group revises Sculptor bid after board's concerns -Bloomberg News
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

Boaz Weinstein, founder and chief investment officer at Saba Capital Management, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 17, 2017. REUTERS/Richard Brian Acquire Licensing RightsSept 6 (Reuters) - Wall Street investor Boaz Weinstein and his group of bidders have revised their offer to buy hedge fund firm Sculptor Capital Management (SCU.N), Bloomberg News reported on Wednesday, citing people familiar with the matter. The group, called Bidder J, which includes Bill Ackman, Marc Lasry and Jeff Yass, as well as Weinstein, made the offer for Sculptor last month. Sculptor Capital Management and Weinstein's Saba Capital Management didn't immediately respond to Reuters requests for comment on Wednesday. Sculptor chose to stay with Rithm's $11.15 per share bid, saying the Bidder J offer had "significantly less certainty of closing."

Persons: Boaz Weinstein, Richard Brian Acquire, Bill Ackman, Marc Lasry, Jeff Yass, Weinstein, Dan Och, Rishabh, Sandra Maler, Leslie Adler Organizations: Saba Capital Management, REUTERS, Wall, Capital Management, Bloomberg, Sculptor Capital Management, Weinstein's Saba Capital Management, Rithm, Thomson Locations: Las Vegas , Nevada, U.S, New York, Bengaluru

☆ Dianne Feinstein initially said she gave her daughter 'no permission to do anything' before calling a reporter back to clarify that she had given her daughter power of attorney
▼ + stars: | 2023-09-06 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Feinstein affirmed statements about her daughter's power of attorney while speaking with a reporter. But earlier in the day, she told the reporter her daughter had "no permission to do anything." In August, it was reported that Sen. Dianne Feinstein had given power of attorney to her daughter, former San Francisco Superior Court judge Katherine Feinstein. Then, in a phone call the same day, she attempted to clarify her earlier statements about Katherine Feinstein's role in aiding her legal issues. It has nothing to do with the Senate or, frankly, anything else," the senator told The Chronicle.

Persons: Feinstein, Sen, Dianne Feinstein, Katherine Feinstein, Katherine Feinstein's, I've, Richard Blum Organizations: Service, California Democrat, Capitol, San Francisco Superior, San Francisco Chronicle, Chronicle, Senate Locations: Wall, Silicon, California, Washington

☆ An inaccurate narrative to declare Bidenomics not working: CEA Chair Jared Bernstein
▼ + stars: | 2023-09-05 | 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 EmailAn inaccurate narrative to declare Bidenomics not working: CEA Chair Jared BernsteinJared Bernstein, Council of Economic Advisers chairman, joins 'Squawk Box' to discuss Bernstein's message from the White House administration, the current budget deficit, and much more.

Persons: Bidenomics, Jared Bernstein Jared Bernstein Organizations: Economic, White

☆ Bitcoin and crypto are about to embark on a 'much stronger fundamental' rally, Bernstein predicts
▼ + stars: | 2023-09-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

"The existing crypto market remains a low liquidity market, with limited new capital entering the space. Investors remain optimistic about the recent developments and what they could mean for the crypto market over the long term, however. The agency for years has maintained that various attempts at a bitcoin ETF didn't satisfy concerns about fraud and manipulation in the market. The ruling shot that down, noting that "bitcoin futures prices are ultimately based on spot market prices." "The industry push for Ethereum spot ETF follows immediately after, given ETH also has a similar market structure of a traded CME futures market ( > 2 years) and a spot market," he added.

Persons: Bernstein, Gautam Chhugani, bitcoin, Chhugani, Michael Bloom Organizations: U.S . Securities, Exchange Commission, U.S ., Appeals, SEC, ETH, BTC Locations: U.S, Solana

REUTERS/Mario Anzuoni Acquire Licensing RightsVENICE, Sept 2 (Reuters) - The make-up artist for Bradley Cooper's Leonard Bernstein biopic "Maestro" apologised on Saturday for offending people by giving the lead character a prosthetic nose, but said he only wanted authenticity. When the first trailer of the film surfaced last month, some critics complained that the nose pandered to Jewish stereotypes. Bernstein died in 1990 but his adult children have defended the make-up in the film, saying their father had had a "nice, big nose". But his make-up designer Kazu Hiro met the press and said he was surprised by the nose criticism. It is one of 23 movies competing for the Golden Lion award at the Venice Film Festival, which runs until Sept. 9.

Persons: Bradley Cooper, Mario Anzuoni, Bradley Cooper's Leonard Bernstein, Maestro, Bernstein, Cooper, Kazu Hiro, Lenny, Hiro, Jamie, Carey Mulligan, Jamie Bernstein, Mike Davidson, Crispian Balmer, Angus MacSwan Organizations: Guardians, REUTERS, Netflix, Hollywood, Golden, Venice Film, Thomson Locations: Los Angeles , California, U.S, United States, Venice, British

☆ Morgan Stanley names this tech stock a top pick, says AI server demand could boost it by nearly 25%
▼ + stars: | 2023-09-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Growing demand for artificial intelligence servers should boost shares of Dell Technologies over the long haul, according to Morgan Stanley. "Importantly, this opportunity is incremental and not yet cannibalistic to general purpose server demand," Woodring wrote. "When we then consider the Gen AI story is still in its infancy - with demand outstripping supply - we believe AI servers can remain a model tailwind for years to come." Along with the AI story, Morgan Stanley views stabilizing hardware spending and better cost management and execution as key to Dell's upside from here. DELL YTD mountain Dell shares have gained about 40% in 2023 A potential S & P 500 inclusion should also benefit Dell and expand the investor base for shares, Woodring added.

Persons: Morgan Stanley, Erik Woodring, Dell, Woodring, Toni Sacconaghi, Michael Bloom Organizations: Dell Technologies, Apple, Dell, HP, DELL

☆ USVI says JPMorgan notified Treasury of more than $1 billion in suspicious Jeffrey Epstein transactions after he died: Report
▼ + stars: | 2023-09-01 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

"JPMorgan was a full-service bank for Jeffrey Epstein's sex trafficking," Liu said at the hearing, Bloomberg reported. Epstein, 66, killed himself in a New York jail in August 2019, a month after he was arrested on federal child sex trafficking charges. In addition to a residence in Manhattan, Epstein owned a private island in the Virgin Islands, where he was accused of sexually abusing women. A lawyer for JPMorgan, which denies wrongdoing in the case, pushed back against the Virgin Islands claims that it should be found liable for abetting Epstein's abuse of women. The Virgin Islands is seeking at least $190 million in damages in the case, which will go to trial on Oct. 23 if Rakoff does not grant summary judgment to either side.

Persons: Jeffrey Epstein, Rick Friedman, JPMorgan Chase, Epstein, Mimi Liu, Jed Rakoff, Liu, Jeffrey Epstein's, Epstein's Organizations: Corbis, Getty, JPMorgan, Treasury Department, U.S . Virgin Islands, Daily, Virgin, Bloomberg, Virgin Islands Locations: Cambridge, Virgin, U.S, Manhattan, Florida, New York

☆ JPMorgan processed more than $1 bln for Epstein, US Virgin Islands says
▼ + stars: | 2023-09-01 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

REUTERS/Caitlin Ochs//File Photo Acquire Licensing RightsNEW YORK, Aug 31 (Reuters) - A lawyer for the U.S. Virgin Islands said on Thursday that JPMorgan Chase (JPM.N) told U.S. authorities it processed more than $1 billion for Jeffrey Epstein over 16 years. The U.S. Virgin Islands, where Epstein owned two private islands, is suing JPMorgan for at least $190 million and likely much more, saying it ignored red flags that Epstein was running a sex trafficking operation because he was a lucrative client. JPMorgan has denied knowing that Epstein was running a sex trafficking operation, and has faulted the territory for having a cozy relationship with him. "JPMorgan was a full service bank for Jeffrey Epstein's sex trafficking," Liu said. Ellsworth also disputed the U.S. Virgin Islands' claim that JPMorgan obstructed investigations into Epstein, saying the bank had asked federal authorities about their own probes into his conduct.

Persons: Caitlin Ochs, U.S . Virgin Islands, JPMorgan Chase, Jeffrey Epstein, Mimi Liu, Epstein, Liu, Jed Rakoff, Jeffrey Epstein's, Felicia Ellsworth, Ellsworth, Rakoff, Rakoff preliminarily, Luc Cohen, Noeleen Walder, Grant McCool Organizations: JPMorgan Chase Bank, REUTERS, U.S . Virgin, JPMorgan, U.S, U.S . Treasury Department, Reuters, Treasury, U.S ., Department, Deutsche Bank, Thomson Locations: New York City, U.S, U.S . Virgin Islands, Manhattan, New York

☆ Ukraine's military medical care has been superior to Russia's, but the lasting Soviet doctrine of simply throwing waves of soldiers at your enemies could help make up for it
▼ + stars: | 2023-08-29 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

Military medicine experts told Insider Ukraine's medical care in war has been better than Russia's. But Ukraine's medical advantage could be undercut by the sheer number of potential Russian soldiers. The UK's MOD said last year that Russian soldiers were being advised to use women's sanitary products as first aid supplies. AdvertisementAdvertisementAnother concern when it comes to battlefield medical care is how close the wounded are to a hospital. But for Russian and Soviet soldiers, medical support has largely seemed to be an afterthought.

Persons: Russia's, —, Aaron Epstein, Epstein's, Epstein, Tanisha Fazal, Fazal, Fazel Organizations: Service, Global, UK Ministry of Defence, MOD, University of Minnesota Locations: Wall, Silicon, Ukraine, Russia, Russian, Soviet

☆ What Instacart's IPO filing reveals for Uber and DoorDash investors
▼ + stars: | 2023-08-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Instacart's recent IPO filing delivered Wall Street some surprising insight into the grocery delivery business, and how competitors Uber and DoorDash 's could better harness advertising opportunities to unlock profit. Last week, the grocery delivery company brought an end to the tech IPO drought when it filed to go public on the Nasdaq Stock Market . And according to some Wall Street analysts, the filing revealed a better positioned company than expected, and one further along on the road to profitability than Uber and DoorDash at the time of their respective IPOs. Filings also revealed insight into customer behavior that both DoorDash and Uber can apply to their budding grocery segments. 'Cautious read-throughs' Despite widespread optimism about the long-term outlook for the grocery delivery business, the filing also revealed some near-term growth concerns for grocery delivery orders.

Persons: Uber, Bernstein, Nikhil Devnani, bode, Bernstein's Devnani, Lloyd Walmsley, Walmsley, — CNBC's Michael Bloom Organizations: Nasdaq, UBS, DASH

☆ Container ships are waiting at Asian ports as retailers struggle to shift excess stock
▼ + stars: | 2023-08-25 | by ( Lucy Handley | ) www.cnbc.com time to read: +5 min

As firms making goods from apparel to electronics hold excess stock, there's less of a demand to ship products. This means some vessels are waiting in ports because of sailings being "blanked," or canceled. "We are arranging a contingency plan with alternative services," MSC added. "If you fly to Singapore, you'll see all these ships outside the port … A lot of ships are parked there waiting till there are better yields," he added. Excess stockFlexport, which is at 10th place in CNBC's Disruptor 50 list, regularly surveys customers on how much stock they're holding.

Persons: Andrew Merry, It's, Sanne Manders, there's, Manders, Bernstein, Niels Rasmussen, Rasmussen, it's, Simon Heaney, Heaney Organizations: MSC, CNBC, CMA CGM, Maersk, Baltic and International Maritime Council, Shanghai Shipping Exchange, Blank, Drewry Locations: Singapore Strait, Asia, Europe, —, Singapore, East, North Europe, CNBC's

☆ Jeffrey Epstein's New Mexico ranch just sold, 2 years after it was listed for $27.5 million
▼ + stars: | 2023-08-24 | by ( Haley Tenore | Associated Press | ) www.businessinsider.com time to read: +3 min

Jeffrey Epstein's New Mexico property, Zorro Ranch, sold after two years on the market. The ranch was listed for $27.5 million in 2021, then dropped to $18 million last year. Over the past year, some of Epstein's' other properties have sold, including two private islands. An attorney for Epstein's estate, Daniel Weiner, confirmed Tuesday that the ranch had been sold for an undisclosed price, and the proceeds would be used to administer the estate and pay creditors. AdvertisementAdvertisementIn May, two of Epstein's infamous private islands sold for $60 million — less than half of their initial asking price of $125 million.

Persons: Jeffrey Epstein's, Epstein's, Zorro, Jeffrey Epstein, Daniel Weiner, Weiner, Epstein Organizations: Service, Rafael Ranch, Santa Fe New, Virgin Islands, Federal Locations: Mexico, Wall, Silicon, Rafael, Santa, Albuquerque, Virgin, Paris, Manhattan, New Mexico, Santa Fe

☆ Sorry, you're going to pay even more for streaming TV soon. Here are the services most likely to raise prices again.
▼ + stars: | 2023-08-23 | by ( Alistair Barr | ) www.businessinsider.com time to read: +4 min

Netflix, Disney, and other video streaming providers have raised prices a lot in the past year. The analysis predicts which streaming subscription services are likely to raise prices again soon. The Bernstein sales specialist also fired up an interesting analysis, using Nielsen data and other industry stats, that shows which streaming services are mostly likely to raise prices again. In other words, you're probably going to pay more for Netflix, Hulu, and Peacock before too long. However, over a longer period, it usually takes a consistent supply of solid hits to drive repeat viewing habits that support higher prices, Schilsky explained.

Persons: they're, Jerome Powell shudder, We'll, Mark Schilsky, Max, Peacock, Schilsky, haven't, Bob Iger, Bernstein, Mark Organizations: Netflix, Disney, Bernstein Research, Wall, Hulu, Paramount, Apple, Nielsen, Bernstein Locations: That's

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