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☆ VW recalling 140,000 SUVs, owners advised to keep
▼ + stars: | 2023-04-04 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

CNN —Volkswagen is recalling 143,000 of its big Atlas SUVs in the US because a faulty sensor on the front passenger side can switch the airbag system off under certain conditions. Until the issue can be corrected, VW is advising owners to avoid letting people ride in that seat. While it’s still unclear what’s causing the problem, VW investigators were able to determine that it was happening in Atlases built during two specific time periods. Volkswagen is unaware of any injuries that might have resulted from the problem, VW spokesman Mark GIllies said. Owners of recalled Atlas SUVs will be notified by mail.

☆ Congress Seeks Details on Spying Risks From Chinese Cargo Cranes
▼ + stars: | 2023-04-03 | by ( Gordon Lubold | Aruna Viswanatha | ) www.wsj.com time to read: 1 min

A Chinese company makes software used by many U.S. port cranes. Cranes in Baltimore. WASHINGTON—Top lawmakers who oversee the Department of Homeland Security want to hold hearings and obtain access to classified and unclassified government documents that expose potential security vulnerabilities posed by dozens of Chinese-made cranes at American ports across the country. It is “extremely worrisome” that about 80% of American port cranes use Chinese software that is manufactured by a Chinese company, said House Committee on Homeland Security Chairman Mark Green (R., Tenn.) in a statement. “On behalf of the American people, this Committee is demanding answers on the risks these cranes pose to U.S. cybersecurity and the resilience of our critical infrastructure, which is a core aspect of the homeland security mission.”

☆ Metaverse could drive up profits — but most businesses may not be ready to invest yet
▼ + stars: | 2023-04-03 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

70% of companies are investing less than 5% of their technology budgets in 2023 into metaverse, while 27% have not invested into metaverse at all, a KPMG report showed. The metaverse has a great potential to drive up business profits but there's a lack of proven success for companies to pour big money into it now, showed a survey by KPMG. The KPMG survey showed that 60% of TMT executives think metaverse can drive revenue and profits and lower operating expenses as transactions shift from physical to virtual. They believe it can also improve customer satisfaction through interactive experiences, the survey showed. "The majority of TMT executives taking part in our survey feel that the metaverse is several years from becoming a thriving commercial ecosystem," said the report.

☆ DeSantis gets support from some on Wall Street, but Trump looms large in their concerns
▼ + stars: | 2023-04-03 | by ( Brian Schwartz | ) www.cnbc.com time to read: +5 min

Ron DeSantis, according to people familiar with the conversations. "I think most people favor DeSantis over Trump but it's unclear that [DeSantis] can win," a Wall Street donor strategist told CNBC. Peterffy has even donated more than $360,000 to a pro-DeSantis political action committee called Friends of Ron DeSantis. DiLella has donated at least $80,000 to the Friends of Ron DeSantis PAC, according to state records. Gerson donated $3,000 to DeSantis' 2018 campaign for governor and just over $100,000 to the Friends of Ron DeSantis PAC between 2018 and 2022, according to state records.

☆ South Africa move to brink of World Cup qualification
▼ + stars: | 2023-04-02 | by ( Mark Gleeson | ) www.reuters.com time to read: +2 min

JOHANNESBURG, April 2 (Reuters) - Aiden Markram scored a superb century and Sisanda Magala claimed five wickets to lead South Africa to a 146-run win over the Netherlands in a one-day international on Sunday and move them to the brink of World Cup qualification. Markram plundered 175 runs off 126 balls as South Africa, put into bat, scored 370-8 off their 50 overs before Magala took his first five-wicket haul to help dismiss the Dutch for 224. The win lifted South Africa into eighth place in the World Cup Super League standings, from where they can now automatically qualify for the World Cup in October. The Netherlands bowling attack started brightly, dismissing South Africa’s openers cheaply but then came in for a peppering, eventually going at a rate of 7.4 per over. Already qualified for the tournament from Oct. 5-Nov. 19 are Afghanistan, Australia, Bangladesh, England, New Zealand, Pakistan and hosts India.

☆ South Africa chase down record T20 target to beat Windies
▼ + stars: | 2023-03-26 | by ( ) www.reuters.com time to read: +3 min

Opener Quinton de Kock hit a first T20 century as South Africa scored 259-4 after being set an imposing target of 13 runs per over to win the match. Johnson Charles had led the West Indies to 258-5, a new record T20 total at the Pretoria test venue, after they had been put into bat and amassed a formidable total. South Africa began at blistering pace in reply and by scoring 150 without loss off the first 10 overs set another T20 record. I've been looking for a T20 century for a while and to do it at my home ground was something special," said De Kock. South Africa tied the three-match T20 series with the final game at the Wanderers in Johannesburg on Tuesday.

☆ Windies skipper smashes his side to T20 win over South Africa
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +2 min

[1/5] Cricket - First Twenty20 - South Africa v West Indies - SuperSport Park Cricket Stadium, Centurion, South Africa - March 25, 2023 South Africa's Anrich Nortje and Aiden Markram after the match REUTERS/Siphiwe SibekoPRETORIA, March 25 (Reuters) - West Indies captain Rovman Powell smashed a quickfire 43 not out to propel his side to a three wicket victory over South Africa in a rain reduced Twenty20 international clash on Saturday. Powell’s knock came off only 18 balls as the West Indies reached their target of 132 with three balls to spare to go 1-0 up in the three-match series. The game was reduced to 11 overs each with South Africa scoring 131-8 and then the tourists replying with 132-7. After a two-hour delay, Powell put South Africa into bat in damp conditions and got immediate returns as key batsmen Quinton de Kock and Rilee Rossouw departed cheaply. West Indies went on the attack from the start of their innings, scoring 17 runs off their opening four balls before South Africa snagged Kyle Mayers with the next delivery.

☆ Inside the world of high-end crypto rehab centers, where a 4-week stay can cost you $320,000 and no luxury is spared
▼ + stars: | 2023-03-20 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +9 min

Crypto addiction is like a "casino in your pocket" says the founder and CEO of The Balance, a crypto rehab center. Enter: luxury crypto rehab centers. It calls itself the "world's best luxury rehab center and mental health clinic" and a "safe haven where you can find recovery, peace, rest, and happiness." The Diamond rehab center, ThailandAnd then there's the property's luxury offerings: a spa, golfing, boat trips, and sporting activities. The Diamond rehab center, ThailandThe Diamond started offering crypto rehab services at the beginning of 2021.

☆ U.S. economy is incredibly tricky and it'll get worse, says Colliers Securities' Mark Grant
▼ + stars: | 2023-03-20 | 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 EmailU.S. economy is incredibly tricky and it'll get worse, says Colliers Securities' Mark GrantMark Grant, chief global strategist at Colliers Securities, joins 'Squawk Box' to discuss the current state of equity markets, the original mistakes central banks made across the world, and more.

☆ Wyoming, the first territory in the United States to grant women the right to vote, just became the first state to ban medication abortion
▼ + stars: | 2023-03-18 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Wyoming became the first state to ban abortion pills after a bill became law on Friday. The "Life is a Human Right Act" makes prescribing or selling abortion pills a felony. Wyoming was the first territory in the United States to grant women the right to vote, according to the National Parks Service, after passing a law offering women suffrage in 1869 — before the region even achieved statehood. It now becomes the first state to ban abortion-inducing medications as legal battles play out in Texas and beyond over similar proposed bans elsewhere. Representatives for Gordon, Gray, and Representative Rachel Rodriguez-Williams, who sponsored the "Life is a Human Right Act," did not immediately respond to Insider's request for comment.

REUTERS/Evelyn Hockstein/File Photo/File PhotoMarch 17 (Reuters) - Wyoming Governor Mark Gordon on Friday signed into law a bill outlawing the use or prescription of medication abortion pills that was passed by the state's Republican-controlled legislature earlier this month. The crux of the two-page Wyoming bill is a provision making it illegal to "prescribe, dispense, distribute, sell or use any drug for the purpose of procuring or performing an abortion." The measure stipulates that a woman "upon whom a chemical abortion is performed or attempted shall not be criminally prosecuted." Gordon acknowledged that abortion rights proponents who have already challenged Wyoming's "trigger" abortion ban that went into effect after the Roe v. Wade decision have filed suit to block the newly passed Wyoming ban preemptively. The governor expressed concern that enactment of the new abortion ban could muddy the legal waters, creating a new obstacle to swift resolution of the matter by the courts.

☆ Insiders were stepping up and buying this week at these regional banks and niche financials
▼ + stars: | 2023-03-17 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

The banking crisis drove regional bank stocks sharply lower this week, but many insiders took advantage of the turmoil to scoop up shares of their own institutions in what may prove a vote of confidence. Shares of regional banks slumped as the collapse of Silicon Valley Bank left investors worried that other regional banks might face similar balance sheet issues, a possible mismatch between long-dated assets and short-dated liabilities. Regional banks had regained some ground Thursday in anticipation of a group of 11 banks stepping in to First Republic by depositing $30 billion for at least 120 days . Charles Schwab Notably, Charles Schwab CEO Walt Bettinger bought 50,000 shares Tuesday, worth nearly $3 million, for his personal account. Valley National Bancorp Ira Robbins (CEO) bought 5,000 shares Wednesday Jennifer Steans (Director) bought 150,000 shares Tuesday Eric Edelstein (Director) bought 20,000 shares Tuesday Melissa Schultz (Director) bought 15,000 shares Tuesday Jeffrey Wilks (Director) bought 8,000 shares Tuesday Marc Lenner (Director) bought 5,000 shares Tuesday Suresh Sani (Director) bought 5,000 shares Tuesday Valley National Bancorp saw a rush of insider buying this week, including purchases by its CEO and several directors.

☆ Norfolk Southern shareholders sue over Ohio derailment
▼ + stars: | 2023-03-17 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

March 17 (Reuters) - Norfolk Southern Corp (NSC.N) shareholders have accused the railroad of defrauding them by prioritizing profit over safety prior to last month's derailment of a train carrying hazardous chemicals in East Palestine, Ohio. A Norfolk Southern spokesman declined to comment, saying the Atlanta-based company does not discuss pending litigation. Norfolk Southern has faced many lawsuits over the Feb. 3 derailment, including cases brought by local residents and Ohio's attorney general. Six of the seven largest U.S. freight railroads use Precision Scheduled Railroading: Norfolk Southern, Canadian National, Canadian Pacific, CSX, Kansas City Southern and Union Pacific. The case is Bucks County Employees Retirement System v Norfolk Southern Corp et al, U.S. District Court, Southern District of Ohio, No.

☆ Lion's share of Biden's COVID relief funds delivered to states, local governments
▼ + stars: | 2023-03-14 | by ( Andrea Shalal | ) www.reuters.com time to read: +2 min

WASHINGTON, March 14 (Reuters) - Two years after enactment of U.S. President Joe Biden's $1.9 trillion American Rescue Plan (ARP), the program has delivered over 10.3 million payments to renters in need and aided more than 30,000 state and local governments, data showed on Monday. Treasury said 99% of the $350 billion of ARP money set aside for state and local authorities and Tribal governments has been delivered, and states have already budgeted for 90% of those funds, although funds may flow out over time. Additional budget plans by states and local governments include $12 billion for 5,300 public health projects and $11 billion more for 3,500 workforce development projects training workers for new, higher-paying jobs, Treasury said. Biden's COVID relief package passed without any Republican votes, raising the prospect that Republican-controlled states and local governments could refuse to participate, as they did with Medicaid funds under former President Barack Obama. But Treasury data show both Democratic- and Republican-controlled states and local governments have tapped ARP funds to provide pandemic relief and invest in projects with long-term impact, such as boosting access to high-speed Internet.

☆ The Justice Department investigated Jeffrey Epstein's death. Then it went silent.
▼ + stars: | 2023-03-09 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +25 min

Jeffrey Epstein's death in a federal jail was seen as a shocking Justice Department failure. But more than three years later, the office still hasn't released its report into the circumstances of Epstein's death. "We all took it by surprise," Mark Epstein told Insider. Barr tasked the Justice Department's inspector general, Michael Horowitz, and the FBI with investigating "the circumstances of Mr. Epstein's death." Mark Epstein told Insider that he spoke to his brother about once a month in the years before his death.

☆ Paramount Turned Down $3 Billion-Plus Offer for Showtime From Former Executive
▼ + stars: | 2023-02-28 | by ( Jessica Toonkel | ) www.wsj.com time to read: 1 min

Former Paramount Global executive David Nevins offered to buy Showtime for more than $3 billion in recent weeks but was turned down by Paramount executives, according to people familiar with the situation. Mr. Nevins’s approach, which was backed by private-equity firm General Atlantic, was the latest in a number of offers Paramount has received over the past few years for Showtime, people familiar with the matter said. Other suitors included Mark Greenberg, another former Showtime executive who most recently ran the premium network Epix, and Lions Gate Entertainment Corp., some of the people said.

☆ NHL roundup: Wild's Kirill Kaprizov caps hat trick in OT
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +6 min

Sabers 7, Capitals 4Dylan Cozens delivered his first career hat trick, and Buffalo defeated visiting Washington. Vinnie Hinostroza had a goal and an assist for Buffalo, while Cozens added an assist for the first four-point game of his career. T.J. Oshie scored his fourth goal in three games and added an assist, and Dylan Strome had a goal and an assist. Nick Schmaltz had a goal and an assist, and Shayne Gostisbehere also scored a goal for Arizona. Trocheck added an assist, and Mika Zibanejad and Artemi Panarin each had a goal and an assist.

☆ 3 things that will propel Uber's ad offering to become a $1 billion business, according to advertisers
▼ + stars: | 2023-02-24 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +4 min

The company is justifying its steep ad prices by pitching advertisers its first-party data that shows where people are and where they're going. Advertisers laid out why Uber's ads are so valuable, and how the company has been able to pull in their budgets. Uber's data-driven ad offering however isn't as compelling as what's offered by retail media competitors, like Walmart and Target. Uber has a new strategy to go after video ad budgetsUber also wants to corner a piece of the lucrative video advertising market. The tablet ad format is squarely aimed at video ad budgets.

☆ How Wall Street firms lift the velvet rope on funding deals for buzzy startups like Stripe for their wealthiest clients
▼ + stars: | 2023-02-24 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Goldman Sachs has invited wealth management clients to invest in fintech unicorn Stripe, as reported by Bloomberg. The message was a rare peek into how the richest bank clients can access investments normally off-limits to individual investors. Insider redacted the wealth management vice president's name and email address to protect their privacy. Citi and JPMorgan, for instance, both have teams dedicated to direct private investments for private bank clients. Private wealth is a real power alley for us, and those continue to be good sources of funding," said Salisbury at a conference in September.

☆ Norfolk Southern CEO apologizes to Ohio townspeople, vows to 'do what's right'
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +3 min

Shaw sat down with people from the town of 4,700 people for the CNN event, repeatedly apologizing and saying, "We're going to do what's right for the community." U.S. and Ohio environmental regulators and the company hired experts who say testing shows the water and air are safe. Norfolk Southern reported net profit of $3.27 billion in 2022 when it paid nearly $1.2 billion in dividends to shareholders and bought back $3.1 billion worth of shares. Insurance will help offset those costs, including a liability policy that will cover up to $1.1 billion in certain situations. Stewart said he was planning to sell his house so he could retire but now his property value had plummeted.

☆ Norfolk Southern wants to 'make things right' after Ohio train crash, CFO says
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +2 min

Feb 22 (Reuters) - Norfolk Southern (NSC.N) will take responsibility for cleaning up the environmental damage from this month's train derailment and controlled detonation of hazardous materials in East Palestine, Ohio, its finance chief said on Wednesday. "We take responsibility ... We're fully dedicated to making things right," George said at an investor conference hosted by Barclays. Norfolk Southern will quantify costs of the clean up no later than its first-quarter earnings, he said. The National Transportation Safety Board (NTSB) has said it would release a preliminary report on its initial findings on Thursday into the derailment. He will be joined by representatives from the Federal Railroad Administration and Pipeline and Hazardous Materials Safety Administration.

☆ Premarket stocks: It's bulls vs. hawks on Wall Street
▼ + stars: | 2023-02-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —There’s a new tussle brewing in the animal kingdom of Wall Street: Hawks vs. Bulls. The question is, will the Fed be able to break through and convince Wall Street to finally give in to market pessimism? “Setting aside what financial market participants expected us to do, I saw a compelling economic case for a 50 basis-point increase,” she said at an event in Florida. Asda told CNN that it was temporarily limiting purchases of some items to three packs per customer. Morrisons told CNN that it had imposed a cap of two packs per customer on the same products.

☆ Norfolk Southern takes responsibility for Ohio crash environment cleanup, CFO says
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +2 min

"We take responsibility ... We're fully dedicated to making things right," Mark George, Norfolk Southern's (NSC.N) chief financial officer, said at an investor conference hosted by Barclays. A day earlier, the head of the U.S. Environmental Protection Agency (EPA) ordered Norfolk Southern to "pay for cleaning up the mess" created by toxic chemicals that spewed into the air, water and soil after the accident. Norfolk Southern plans to quantify related costs no later than its first-quarter earnings. The National Transportation Safety Board (NTSB) plans to release a preliminary report on Thursday on its initial findings into the fiery crash. He will be joined by representatives from the Federal Railroad Administration (FRA) Hazardous Materials Safety Administration (PHMSA).

☆ Norfolk Southern, in wake of toxic derailment, gives in on sick days for one of its unions
▼ + stars: | 2023-02-22 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Norfolk Southern has agreed to give one of its unions the paid sick days it demanded for members in negotiations last year, and is in talks to grant sick days to its other unions as well. Norfolk Southern has about 19,000 employees total and about 15,000 of whom are union members. Norfolk Southern’s concession comes two weeks after another railroad, CSX (CSX), reached a deal with two of its unions to provide four sick days a year. The Norfolk Southern deal provides up to seven sick days per employee. Norfolk Southern and the nation’s other major freight railroads all faced criticism last year for refusing the unions’ demands for paid sick days for their members.

☆ A Russian officer who brandished the skull of a Ukrainian soldier at a heavy metal concert was shot in an 'execution-style' hit: report
▼ + stars: | 2023-02-06 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

A Russian captain was shot "execution-style" in the head on Saturday, according to reports. Igor Mangushev was filmed last year brandishing the supposed skull of a slain Ukrainian soldier. An expert said the "hit" on Mangushev may have been a proxy attack on the head of the Wagner Group. According to The New Voice of Ukraine, citing unverified doctors' reports, Mangushev was shot "execution-stye" at a checkpoint in the Russian-occupied region of Luhansk Oblast. Last summer, Mangushev was filmed brandishing the skull during a heavy metal concert.

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