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☆ Clarence Thomas said he loves RVs and Walmarts in a documentary financed by the billionaire who was taking him on luxury vacations
▼ + stars: | 2023-04-06 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +3 min

Supreme Court Justice Clarence Thomas once said in a documentary that he prefers RV parks and Walmarts. A new ProPublica report found Thomas has been taking luxury vacations paid for by a GOP megadonor for years. A Supreme Court spokesperson did not immediately respond to requests for comment by Insider on Thursday. "Justice Thomas and Ginni never asked for any of this hospitality," Crow said. "We have never asked about a pending or lower court case, and Justice Thomas has never discussed one, and we have never sought to influence Justice Thomas on any legal or political issue," said Crow.

☆ Visa, MasterCard tell UK tribunal to block new mass actions
▼ + stars: | 2023-04-03 | by ( Sam Tobin | ) www.reuters.com time to read: +2 min

Visa and Mastercard are each being sued by hundreds of claimants at London's Competition Appeal Tribunal, which is currently managing the various cases together. Special purpose vehicle Commercial and Interregional Card Claims (CICC) brought another set of lawsuits against Visa and Mastercard last year, seeking damages on behalf of merchants which were allegedly overcharged. CICC is asking the tribunal to certify its cases under the United Kingdom's collective proceedings regime, which is roughly equivalent to the class action regime in the United States. But Visa and Mastercard's lawyers say the need for collective proceedings is undermined by the fact that thousands of merchants have already sued them. "These proposed collective proceedings are not, therefore, about providing access to justice to those who cannot seek it for themselves," he added.

REUTERS/Thomas White/IllustrationMUMBAI/NEW DELHI, April 3 (Reuters) - A surge in India's services exports, which hit a record high in the October-December quarter, is expected to shield the economy from external risks as a slowing global economy will likely weigh on the country's merchandise exports. Services exports will likely surpass goods exports by March 2025, he said. Reuters Graphics Reuters GraphicsIT services still accounted for 45% of India's total services exports in April-December. EXTERNAL SHIELDThe continued rise in services exports is likely to help rein in India's current account deficit. There is room for further growth with India's share in world commercial services exports currently just at around 4%."

☆ MLB roundup: Kodai Senga shines in debut as Mets down Marlins
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +12 min

[1/2] Apr 2, 2023; Miami, Florida, USA; New York Mets starting pitcher Kodai Senga (34) pitches against the Miami Marlins in the first inning at loanDepot Park. /Rhona Wise-USA TODAY SportsApril 3 - Right-hander Kodai Senga struck out eight batters in his major league debut, leading the New York Mets to a 5-1 win over the host Miami Marlins on Sunday afternoon. Marlins starter Trevor Rogers (0-1) lasted just 4 1/3 innings, allowing four hits, two walks and four runs, three earned. He allowed one run on three hits while walking two and striking out six in his first start of the season. Two of Houck's five hits allowed were home runs by Baltimore's Adam Frazier (3-for-4, two RBIs, two runs) and Cedric Mullins (2-for-5, run, three RBIs).

☆ Credit Suisse AT1 bondholders hire law firm for possible litigation
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, April 3 (Reuters) - Some holders of Credit Suisse AT1 bonds wiped out by the bank's planned merger with UBS have instructed law firm Quinn Emanuel Urquhart & Sullivan to represent them for discussions with Swiss authorities and possible litigation to recover losses. The bondholder group holds a "significant percentage of the total notional value" of the AT1 bonds, the law firm said in a statement on Monday. AT1 bonds are the riskiest type of debt banks can issue, ranking immediately after equity in the event of losses. Banks' AT1 bonds fell after the Swiss decision highlighted the risks of investing in these securities. Meanwhile, Switzerland's Federal Prosecutor has opened an investigation into the state-backed takeover of Credit Suisse by UBS Group, the office of the attorney general said on Sunday.

☆ Investors ride out China uncertainty in convertible bonds
▼ + stars: | 2023-03-31 | by ( Georgina Lee | ) www.reuters.com time to read: +3 min

Funds that invest in Asian convertible bonds attracted inflows of $118.1 million in January and February, data from Morningstar shows, bucking the overall outflows recorded for the more than 350 convertible bond funds it tracks globally. Convertible bonds are hybrid securities with most, like a regular bond, paying a coupon. "Some Asian convertible bonds are attractive as they offer investors comparable or better yields for a shorter duration than straight bonds, as they come with an inexpensive equity option," said Girish Kumarguru, portfolio manager at alterative asset manager, China Everbright Assets Management (0165.HK). Compared to the 6% yield paid by its regular bond, convertible bond investors get less, with current pricing implying a yield of around 2.5%. "Measures to boost consumption in China should be favourable to Asian convertible bonds as there are numerous consumer-related issuers in this region," said Skander Chabbi, head of global convertible team at BNP Paribas Asset Management based in Paris.

☆ Peter Thiel's reported romantic partner was found dead in Miami. Police are investigating as possible suicide.
▼ + stars: | 2023-03-24 | by ( Jack Newsham | ) www.businessinsider.com time to read: +3 min

Jeff Thomas, a 35-year-old actor and model, was found dead in Miami in a possible suicide. Miami police view the case as a possible suicide and plan to interview Thiel, The Intercept said. The Intercept reported that Thomas and Thiel had been seen at each others' homes, including at raucous parties. "And he did, and so he didn't support Trump in 2020. Thomas said he had doubts about his relationship with Thiel, the Intercept reported, and the two were not living together.

☆ 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.

In a major shake-up, China will set up the new regulatory body, the National Financial Regulatory Administration (NFRA), according to a proposal that the State Council, or cabinet, presented to parliament on Tuesday. The watchdog, which will oversee all aspects of China's $57 trillion financial sector apart from the securities market, should help reduce regulatory overlap especially at the level of local government, analysts say. There are also plans, sources have said, for the revival of another high-level financial watchdog which is expected to be directly under central party leadership. 'ENHANCING CENTRALISATION'In its reform proposals presented in parliament, the State Council said the changes were meant to "deepen reforming local financial regulatory systems" by "enhancing centralised management of financial affairs". Some investors, however, are concerned that the regulatory power reshuffle means tighter government control, which may bring more interference or crackdowns on financial activity, particularly in the private sector.

☆ 7 YouTubers share their takeaways and payouts from the first month of the Shorts ad revenue sharing program
▼ + stars: | 2023-03-07 | by ( Marta Biino | ) www.businessinsider.com time to read: +4 min

On February 1, YouTube began sharing advertising revenue from short-form videos with creators. With this program, revenue from ads is pooled and then shared with creators based on their views. In February, he made about $1,455 for 32.4 million views — about $0.04 for every 1,000 views. Here's how much seven creators made in February:To determine payments on Shorts, YouTube pools revenue from the ads shown on the Shorts feed. Creating short-form content isn't something I'm passionate enough about to dedicate the time it takes."

The plaintiffs accused Ocala of violating the U.S. Constitution's First Amendment "establishment clause," which restricts governmental involvement in religion. Ocala city officials helped organize and conduct the one-hour prayer vigil held in response to a series of shootings in which three children were struck by stray bullets. The city then appealed to the U.S. Supreme Court. A federal district court will now weigh the plaintiffs' establishment clause claims in light of the football coach ruling. The conservative-majority Supreme Court in recent years has chipped away at the wall separating church and state, eroding American legal traditions aimed at barring government officials from promoting any particular faith.

☆ Atheists avoid — for now — Supreme Court review of Florida shooting prayer vigil lawsuit
▼ + stars: | 2023-03-06 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

In the Florida case, the Ocala police chief organized and promoted a prayer vigil whose attendees included police chaplains. The judge, in his ruling, applied the so-called "Lemon test," named after a 1971 Supreme Court ruling. In that 6-3 ruling, the Supreme Court effectively jettisoned the Lemon test in deciding that the coach had the right to pray with players and others on the field after games. The court's ruling said the Establishment Clause "must be interpreted by 'reference to historical practices and understandings.' A majority of the Supreme Court's justices on Monday declined to take the case on those grounds, without commenting on the decision.

☆ U.S. regulators rejected Elon Musk’s bid to test brain chips in humans
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +23 min

Musk’s missed deadlines for FDA approval of Neuralink July 2019:Musk says Neuralink is aiming to receive regulatory approval for human trials of brain implants by the end of 2020. “Everybody in the industry was saying: ‘Oh my God, they’re going to run straight into a brick wall,’” Ludwig said of Musk’s bid for FDA approval. For example, NeuroPace, which makes the brain implant to treat epilepsy, received final FDA approval in 2013 – 16 years after the company’s launch. The FDA’s concerns about the battery are also potentially serious, experts in brain devices said. Still, that proposal disappointed Neuralink because it could delay progress toward final FDA approval, one of the sources said.

☆ Walmart says it's closing a store in Albuquerque because it's underperforming. Some shoppers say it was rampant with crime, and police visited hundreds of times last year.
▼ + stars: | 2023-03-01 | by ( Ben Tobin | ) www.businessinsider.com time to read: +4 min

The store has 287 workers who are eligible to transfer to another store, per a Walmart spokeswoman. It's "very sad," he told Insider, because there aren't many retailers with stores in that part of Albuquerque. The San Mateo Boulevard store is set to close on March 10 after opening in July 1985, according to Walmart spokeswoman Lauren Willis. Albuquerque city officials are now looking into buying and repurposing the closing Walmart store. The Walmart is one of at least eight stores closing soon across five states and the District of Columbia.

☆ Black real estate developers get rare access to big capital through Philadelphia program
▼ + stars: | 2023-02-28 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Black Americans represent less than 5% of residential real estate developers, largely because they can't get equal access to capital, according to a recent report by the Urban Land Institute. Institutional capital – real estate investment trusts and private equity in particular – are the dominant players. Philly Rise is designed to recruit, train, support and open up access to capital. That's why he's been working in real estate for 20 years, developing affordable housing first in Delaware and Maryland, and soon in Philadelphia. "Our goal with our participants is not to teach them how to rehab or build brand new houses, but how to build successful real estate businesses," said Webster.

☆ Infamous fake German heiress Anna Sorokin wins contempt case against ex-lawyer after landing guest speaking gig with Harvard MBA students
▼ + stars: | 2023-02-26 | by ( Jordan Hart | Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

Anna Sorokin, aka Anna Delvey, reportedly spoke with a class of MBA students at Harvard University on Feb. 14. Sorokin, aka Anna Delvey, confirmed to Insider that this semester she was set to make a virtual live appearance in front of MBA students at the top business school on February 14. In September, the 32-year-old spoke at an "Intro to Reporting" class for Columbia University students from her ICE detention facility. In September, the 32-year-old filed a lawsuit against Thomas for an alleged court order violation over transferring Sorokin's court files. In January, Harvard MBA students had the chance to hear from another unconventional source.

☆ Clarence Thomas was still making student loan payments when he joined the Supreme Court — and a fellow Yale law student suggested he declare bankruptcy to avoid the 'crushing weight' of payments: book
▼ + stars: | 2023-02-25 | by ( Sarah Al-Arshani | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Supreme Court will hear two challenges to Biden's student loan debt relief plan on Tuesday. In 2007, Justice Clarence Thomas wrote about the "crushing weight" of student debt in his own life. In his 2007 memoir "My Grandfather's Son," Thomas, the court's longest-serving justice, spoke of the "crushing weight" of student debt from his time at Yale Law School. In August, Biden announced plans to cancel up to $20,000 in student debt for federal borrowers making under $125,000 a year. Biden's Education Department has begun reforming the process to make it easier, but right now, the main focus is the president's broad debt relief plan.

☆ Bearish bets on Asian FX return on renewed woes over Fed rate hikes - Reuters poll
▼ + stars: | 2023-02-23 | by ( Tejaswi Marthi | ) www.reuters.com time to read: +3 min

[1/4] A Singapore dollar note is seen in this illustration photo May 31, 2017. However, recent comments from the Fed about hiking rates for longer dampened sentiment. They turned bearish on the Thai baht , Asia's best-performing currency this year, the Singapore dollar and the Malaysian ringgit for the first time in three months. The poll uses estimates of net long or short positions on a scale of minus 3 to plus 3. The survey findings are provided below (positions in U.S. dollar versus each currency):Reporting by Tejaswi Marthi in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. dollar strengthens as Fed minutes signal higher rates
▼ + stars: | 2023-02-22 | by ( Laura Matthews | ) www.reuters.com time to read: +3 min

The dollar index was up 0.40% at 104.57, easing off the high of 104.59 it reached earlier in the day. "The Fed minutes were just released indicating that a few officials could have supported a 50-bps hike in the last meeting, though most backed the 25bps outcome. "The theme throughout February has been a bias towards higher rates, and these minutes are consistent with that perspective." But Fed funds futures traders are now pricing the fed funds rate to reach 5.38% in July, and remaining above 5% all year. "Stronger-than-expected U.S. data releases since the start of this month have reinforced the Fed's messages about stronger for longer interest rates."

Survey data released on Tuesday showed U.S. business activity unexpectedly rebounded in February to reach its highest in eight months. He is the latest Fed official to signal that higher interest rates is likely needed to bring inflation back to desired levels. "Stronger-than-expected U.S. data releases since the start of this month have reinforced the Fed's messages about stronger for longer interest rates." The dollar index up 0.1% at 104.19, but off the high of 104.34 reached earlier in the day. A blockbuster U.S. employment report in early February sparked the rebound in the dollar, which has been helped along by a series of strong data releases.

☆ How Clarence Thomas went from a left-wing Black radical to one of the Supreme Court's most conservative judges
▼ + stars: | 2023-02-20 | by ( James Pasley | ) www.businessinsider.com time to read: +1 min

Thomas spent a year training to become a priest, but after the prejudice he encountered, he changed his mind. Clarence Thomas is seen looking at a textbook with another student in a high school yearbook photo, circa 1959. He protested against the Vietnam War and segregation. In a speech he made in 1993, he said he was told he wasn't "really Black" if he didn't have an Afro. Sources: Esquire, New Yorker , New Yorker, ABC

☆ Ron DeSantis styles himself a culture warrior for God. But his push to expand the death penalty is 'deeply concerning' to the Catholic Church.
▼ + stars: | 2023-02-17 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +7 min

The Catholic Church is speaking out against a GOP push to expand the death penalty. Making it "easier to impose death is deeply concerning," Michael Sheedy of the Florida Conference of Catholic Bishops told Insider. 'Deeply concerning'Any effort to expand the death penalty in Florida will face obstacles: the state and US constitutions. "An execution represents a judgment by fallible human beings that a person is beyond redemption – a judgment the Catholic Church rejects," they said. Tony Argiz, right, recalled how the Catholic Church helped him when he came to the US from Cuba as an unaccompanied minor.

☆ The Paradox of Prosecuting Domestic Terrorism
▼ + stars: | 2023-02-08 | by ( James Verini | ) www.nytimes.com time to read: +52 min

The preventive approach to domestic terrorism goes back even further than the 1990s and it begins with the basic police work and surveillance of the joint terrorism task forces. In fact, there is no section of the U.S. Criminal Code that criminalizes domestic terrorism as such. The absence of clear law around domestic terrorism, and the imperatives of prevention, mean that investigators and prosecutors who work domestic terrorism cases must focus on more common charges: weapons violations, illegal drug possession, burglary, aiding and abetting and so forth. But this was not enough to overrule the fear of domestic terrorism that was gripping the nation and that hung in the courtroom. It reflected the legal paradoxes of the case and domestic terrorism law in general or, maybe more accurately, the absence of it.

☆ Japan confirms record interventions to support yen
▼ + stars: | 2023-02-07 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

[1/2] A Japan Yen note is seen in this illustration photo taken June 1, 2017. REUTERS/Thomas White/IllustrationTOKYO, Feb 7 (Reuters) - Japan confirmed on Tuesday that it made record interventions in the foreign exchange market in October, selling the dollar worth 6.35 trillion yen ($48 billion) to support the yen currency, Ministry of Finance (MOF) data showed. Japan spent a record 5.62 trillion yen ($42.5 billion) on a single day yen-buying intervention on Oct. 21 and further 730 billion yen on Oct. 24, having spent 2.84 trillion yen on Sept. 22 to stem the yen's sharp fall, which boosted living costs for resource-deficiant Japan. It was rare for Japan to conduct yen-buying, dollar-selling interventions given the country's past battle with a strong yen making Japanese goods less competitive overseas. Japan publishes monthly intervention records at the end of each month, and it issues daily results for the prior quarter.

☆ 3 ways TikTokers are changing their content strategies as they jump to YouTube
▼ + stars: | 2023-02-03 | by ( Shriya Bhattacharya | Marta Biino | ) www.businessinsider.com time to read: +2 min

It's one several reasons some TikTokers are posting on YouTube for the first time in 2023. Here are three ways TikTokers are repurposing their content to fit YouTube. The shift to YouTube comes as some TikTokers have been frustrated with efforts to monetize their content on the short-video app. And if Shorts grows, the amount creators earn grows too." Here are three ways TikTokers are trying to reposition their content for YouTube:

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