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US prosecutors to seek Hunter Biden indictment by Sept. 29
  + stars: | 2023-09-06 | by ( ) www.reuters.com   time to read: +3 min
Hunter Biden, son of U.S. President Joe Biden, departs federal court after a plea hearing on two misdemeanor charges of willfully failing to pay income taxes in Wilmington, Delaware, U.S. July 26, 2023. REUTERS/Jonathan Ernst/File Photo Acquire Licensing RightsWASHINGTON, Sept 6 (Reuters) - U.S. prosecutors said in a court filing on Wednesday they will seek an indictment of President Joe Biden's son, Hunter, by Sept. 29 in his tax and firearms case. "The government intends to seek the return of an indictment in this case before that date," Weiss wrote in a status report to U.S. District Judge Maryellen Noreika. In July, Noreika rejected a proposed plea deal that would have resolved the tax and gun charges, raising concerns over its legality and the scope of immunity it offered Hunter Biden. Republicans in Congress have raised the possibility of impeaching President Biden over his son's business dealings and accuse the Department of Justice of giving him a "sweetheart deal."
Persons: Hunter Biden, Joe Biden, Jonathan Ernst, Joe Biden's, Hunter, David Weiss, General Merrick Garland, Weiss, Maryellen Noreika, Noreika, Hunter Biden's, Abbe Lowell, Biden, Lowell, , Garland, Donald Trump, Trump, Kanishka Singh, Eric Beech, Tom Hals, Jeff Mason, Rami Ayyub, David Gregorio Our Organizations: REUTERS, Rights, U.S, District, Mr, Congress, of Justice, Attorney, District of, Republican, Thomson Locations: Wilmington , Delaware, U.S, District of Delaware
David C. Weiss, the special counsel investigating Hunter Biden, said on Wednesday that he planned to indict the president’s son on a gun charge before the end of the month — a move prompted by the acrimonious collapse of a plea deal in July. In a three-page update filed in federal court in Wilmington, Del., Mr. Weiss laid out plans to bring charges related to Mr. Biden’s purchase of a pistol in 2018, when prosecutors say he lied on a federal form by stating that he was not using drugs at the time. Mr. Biden had previously agreed to participate in a two-year diversion program for nonviolent gun offenders as part of the plea deal, which unraveled dramatically at the last minute this summer. Mr. Biden’s lawyer, Abbe Lowell, signaled in a statement that he would challenge any effort to proceed with a trial, arguing that the original agreement reached over the summer “remains valid and prevents any additional charges from being filed.”The government’s filing, while expected, adds an additional and volatile element to an already packed calendar of criminal cases coinciding — and colliding — with the 2024 presidential race. It piles on a possible federal trial of President Biden’s son to former President Donald J. Trump’s two federal and two state criminal cases.
Persons: David C, Weiss, Hunter Biden, Biden, Biden’s, Abbe Lowell, Donald J Locations: Wilmington, Del
The gun charge that Weiss indicates he will seek from a grand jury prohibits people who are users of illicit drugs from possessing a firearm. Federal prosecutors plan to ask a grand jury to indict Hunter Biden , the son of President Joe Biden , on gun-related charge before Sept. 29, they revealed in a court filing Wednesday. But Hunter Biden has been under criminal investigation by the U.S. Attorney's Office in Delaware, which Weiss leads, since 2018. Shortly afterward, Weiss said Hunter Biden would likely face trial in either California or Washington, D.C., for the tax crimes. Weiss's office has said the gun agreement is now off the table, and that it is not valid because it was not signed by the U.S.
Persons: Hunter Biden, Joe Biden, Patrick Daniels Jr, Weiss, Abbe Lowell, Hunter, David Weiss, , Lowell, Biden, Donald Trump, Trump, Judge Maryellen Noreika, Noreika, Department of Justice —, Merrick Garland, Garland, Hunter's Organizations: U.S, Circuit, Appeals, Government, Mr, NBC News, Attorney's, Republican, Department of Justice, Trump, DOJ, D.C, Probation Locations: Wilmington , Delaware, York, Mississippi, U.S, Delaware, China, Ukraine, noncompliance, California, Washington
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. The Commerce Department report showed the Personal Consumption Expenditures (PCE) price index, considered to be the Fed's preferred inflation gauge, climbed 3.3% in July on an annual basis, meeting expectations of a 3.3% rise. Excluding volatile food and energy components, the core PCE price index rose 4.2% in July, year-on-year, also in line with estimates. Investors are now awaiting the more comprehensive non-farm payrolls data due on Friday for more clarity on the Fed's likely monetary path. Dismal manufacturing data from China sent U.S.-listed shares of Chinese companies JD.com and Baidu down 3.1% and 1.8%, respectively.
Persons: Brendan McDermid, we've, Tony Roth, Shristi Achar, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Commerce Department, Traders, Wilmington Trust, Dow Jones, Baidu, NYSE, Thomson Locations: New York City, U.S, Wilmington, payrolls, China, Bengaluru
As he heads toward a re-election campaign next year, President Biden is betting that his success in pushing for policies intended to lower health care costs for millions of Americans will be rewarded by voters at the ballot box. In speech after speech, Mr. Biden talks about capping the cost of insulin at $35, putting new limits on medical expenses for seniors, making some vaccines free and pushing to lower the prices of some of the most expensive drugs in the world. At the White House, Mr. Biden and his advisers have already begun to elevate the issue as a centerpiece of his agenda. And at his campaign headquarters in Wilmington, Del., aides are preparing television ads, talking points and speeches arguing that Mr. Biden’s push for lower health care costs is a stark contrast with his Republican opponents. “The president will have a very strong case to make,” said Senator Amy Klobuchar of Minnesota, a member of the president’s national campaign advisory board.
Persons: Biden, Biden’s, , , Amy Klobuchar Organizations: White, Republican Locations: Wilmington, Del, Minnesota
State law would still apply if the case is moved to federal court. The federal officer removal law protects people from state prosecution for carrying out official federal duties. It says that if a person were carrying out duties placed on them by federal law, they cannot be prosecuted for committing a state crime. Legal experts said Jones could allow the case to proceed in federal court and address immunity at a later hearing. If he determines immunity did not apply to the accused actions, the jury trial would take place in federal court, with the broader jury pool.
Persons: Mark Meadows, Al Drago, Donald Trump, Trump's, Meadows, firebrand Marjorie Taylor Greene, Joe Biden, , Jeffrey Clark, Trump, Eric Segall, Fani Willis, Willis, Georgia's, Alvin Hellerstein, Steve Jones, Josh Blackman, Jones, Tom Hals, Noeleen Walder, Amy Stevens, Stephen Coates Organizations: White, REUTERS, Fulton County Superior Court, Trump, Department of Justice, Republican, Northern District of, Georgia State College of Law, Miami . Fulton, Prosecutors, U.S, U.S . Constitution, Circuit, Appeals, District, South Texas College of Law, Thomson Locations: Washington , U.S, Fulton County, Meadows, Shafer, Northern District, Northern District of Georgia, New York, Washington, Miami ., Miami . Fulton County, Georgia, United States, U.S ., Manhattan's, Atlanta, Wilmington , Delaware
Heading home from Lake Tahoe on Saturday, President Joe Biden exchanged a week of waterfront seclusion for the more workaday realities of running the country from Washington. Like many presidents, Biden spent a good portion of August away from the White House, trading the capital’s stifling heat for the beach or the mountains. Of the first 26 days in August, Biden spent only one day entirely at the White House. He also held events at the White House marking his legislative accomplishments. The White House did detail some of the presidential tasks Biden undertook.
Persons: Sunshine, Joe Biden, Biden, ” Biden, Jill Biden, Hunter, Ashley, Jake Sullivan, Volodymyr Zelensky, Tom Steyer, Donald Trump, Barack Obama, Biden couldn’t, Jim Watson, Vladimir Putin, Yevgeny Prigozhin, , Putin, , “ I’ve, Evan Vucci, Trump, Hunter –, wasn’t, Obama Organizations: White House, White, Camp David, Democratic, Secret Service, Wagner Group, Ukraine Locations: Lake Tahoe, Washington, Maui, West Coast, Russian, Ukraine, Jacksonville , Florida, Hawaii, Camp, Delaware, Wilmington, Rehoboth Beach, Tahoe, Glenbrook, New Jersey, Rehoboth Beach , Delaware, AFP, United States, Russia, South Lake Tahoe , California, Fulton County
No defendants have entered a plea in the Georgia case. The federal officer removal law protects people from state prosecution for carrying out official federal duties. Legal experts said the accused acts in the Georgia case are more plausibly related to official duties than the hush money payments in the New York case. Legal experts said Jones could allow the case to proceed in federal court and address immunity at a later hearing. If he determines immunity did not apply to the accused actions, the jury trial would take place in federal court, with the broader jury pool.
Persons: Donald Trump, Ray Smith, Rudy Giuliani, Jenna Ellis, Sidney Powell, Cathy Latham, Trump's, Mark Meadows, Meadows, firebrand Marjorie Taylor Greene, Joe Biden, Jeffrey Clark, David Shafer, Trump, Eric Segall, Fani Willis, Willis, Georgia's, Alvin Hellerstein, Steve Jones, Josh Blackman, Jones, Tom Hals, Noeleen Walder, Amy Stevens, Stephen Coates Organizations: Trump, Georgia Republican, Fulton County Superior Court, of Justice, Republican, Northern District of, Georgia State College of Law, Miami . Fulton, Prosecutors, U.S, U.S . Constitution, Circuit, Appeals, District, South Texas College of Law, Thomson Locations: Georgia, Fulton County, Meadows, Shafer, Northern District, Northern District of Georgia, New York, Washington, Miami ., Miami . Fulton County, United States, U.S ., Manhattan's, Atlanta, Wilmington , Delaware
Watch CNBC's full interview with Meghan Shue and David Zervos
  + stars: | 2023-08-25 | 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 EmailWatch CNBC's full interview with Meghan Shue and David ZervosMeghan Shue, Wilmington Trust head of investment strategy, David Zervos, Jefferies chief market strategist and CNBC's Steve Liesman join 'Closing Bell Overtime' with the latest reaction to the Fed comments out of Jackson Hole today, the market's response and more.
Persons: Meghan Shue, David Zervos Meghan Shue, David Zervos, Steve Liesman, Jackson Organizations: Wilmington Trust, Jefferies Locations: Wilmington
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Chair Powell won't declare victory on inflation anytime soon, says Jefferies' David ZervosMeghan Shue, Wilmington Trust head of investment strategy, David Zervos, Jefferies chief market strategist and CNBC's Steve Liesman join 'Closing Bell Overtime' with the latest reaction to the Fed comments out of Jackson Hole today, the market's response and more.
Persons: Powell, Jefferies, David Zervos Meghan Shue, David Zervos, Steve Liesman, Jackson Organizations: Wilmington Trust, Jefferies Locations: Wilmington
FTX logo is seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 24 (Reuters) - Bankrupt crypto exchange FTX has hired U.S. crypto firm Galaxy as an advisor to help hedge and sell its crypto holdings, according to court filings made late on Wednesday. Hedging of bitcoin and ether will provide a means to lessen FTX's exposure to adverse price movements before their sale, the filing said. Galaxy, owned by billionaire investor Mike Novogratz, will also help "stake" FTX's crypto, a process where crypto is lent to validate blockchain transactions, earning interest in the process. FTX filed for bankruptcy in November 2022 in the wake of claims that the company misused and lost billions of dollars worth of customers' crypto deposits.
Persons: Dado Ruvic, FTX, Mike Novogratz, Brian Glueckstein, Shivani Tanna, Janane Organizations: REUTERS, Galaxy, Asset Management, Thomson Locations: Wilmington , Delaware, Bengaluru
Semi truck trailers are pictured at freight trucking company Yellow’s terminal near the Otay Mesa border crossing between the U.S. and Mexico in San Diego, California, U.S., August 7, 2023 after the company filed for bankruptcy protection. REUTERS/Mike Blake/File Photo Acquire Licensing RightsNEW YORK, Aug 17 (Reuters) - Trucking firm Estes Express has submitted a $1.3 billion bid to acquire bankrupt Yellow Corp's shipment centers, attorneys said on Thursday at a U.S. bankruptcy court hearing. Yellow's attorney Allyson Smith said the Estes proposal was received while Yellow was negotiating several offers for bankruptcy financing. Apollo initially offered to fund Yellow's bankruptcy with a $142.5 million loan, but instead bowed out after Yellow received competing offers with lower fees and interest rates. The union, which represents about 22,000 Yellow employees, said the Nashville, Tennessee-based company "mismanaged" its way to bankruptcy.
Persons: Mike Blake, Allyson Smith, Estes, Smith, Craig Goldblatt, Yellow, Judge Goldblatt, Dietrich Knauth, Chris Reese, Cynthia Osterman, Alexia Garamfalvi, Jonathan Oatis Organizations: U.S, Trucking, Express, Citadel, MFN Partners, U.S . Treasury Department, Apollo Global Management, Apollo, International Brotherhood of Teamsters, Thomson Locations: Mexico, San Diego , California, U.S, Wilmington , Delaware, Nashville , Tennessee
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why Wells Fargo's Paul Christopher is expecting one more rate hikeWilmington Trust's Tony Roth and Wells Fargo Investment Institute's Paul Christopher join 'Squawk on the Street' to discuss the conditions that could lead to another rate hike, the economy's deflationary data, and the calculus for equities.
Persons: Wells Fargo's Paul Christopher, Tony Roth, Paul Christopher Organizations: Wilmington, Wells, Wells Fargo Investment Locations: Wells Fargo
Hunter Biden, son of U.S. President Joe Biden, departs federal court after a plea hearing on two misdemeanor charges of willfully failing to pay income taxes in Wilmington, Delaware, U.S. July 26, 2023. REUTERS/Jonathan Ernst/File PhotoAug 15 (Reuters) - Christopher Clark, the senior lawyer representing Hunter Biden, is seeking to withdraw from the case involving the U.S. president's son on the grounds he might be called to testify, according to a court filing on Tuesday. The case is being heard in the U.S. state of Delaware, where Biden is represented by the Berger Harris law firm. "It is inadvisable for Mr. Clark to continue as counsel in this case," continued the joint filing from Berger Harris and Clark Smith Villazor, Clark's firm. In the filing, the two said Clark's withdrawal would not cause Biden substantial hardship since other firms involved in the case would continue to represent him.
Persons: Hunter Biden, Joe Biden, Jonathan Ernst, Christopher Clark, president's, Biden, David Weiss, Weiss, Berger Harris, Clark, Clark Smith Villazor, David Ljunggren, Jonathan Oatis Organizations: REUTERS, U.S, Thomson Locations: Wilmington , Delaware, U.S, U.S ., Delaware
Aug 15 (Reuters) - Former U.S. President Donald Trump was indicted on Monday for his alleged efforts to illegally overturn the Georgia vote in the 2020 presidential election which put Joe Biden in the White House. After defendants in Georgia are indicted by a grand jury, they are arraigned, which is the formal reading in court of the charges. Trump will have his mugshot taken upon being taken into custody, Fulton County Sheriff Pat Labat told local media this month. A jury of 12 people from Fulton County must all agree beyond a reasonable doubt that Trump is guilty for a conviction on any count. If Trump is convicted, he would likely seek a new trial by asserting the outcome was inconsistent with evidence or contrary to the law.
Persons: Donald Trump, Joe Biden, Bail, Trump, Fulton County Sheriff Pat Labat, Fani Willis, Elijah Nouvelage, Biden, Young, Jeffery Lamar Williams, Tom Hals, Jack Queen, Noeleen Walder, Alistair Bell Organizations: Former U.S, Fulton County Sheriff, REUTERS, Republican, Thomson Locations: Former, Georgia, Fulton County, Atlanta , Georgia, U.S, Atlanta, Wilmington , Delaware, New York
Hunter Biden, son of U.S. President Joe Biden, arrives at federal court to plead guilty to two misdemeanor charges of willfully failing to pay income taxes in Wilmington, Delaware, U.S., July 26, 2023. Republicans pointed to the testimony as evidence that the Justice Department intervened to delay the Hunter Biden probe, even though the events took place while Republican President Donald Trump was in office. Comer said the alleged misconduct occurred under U.S. Attorney David Weiss, a Trump appointee who was named special counsel in the Hunter Biden investigation last week over the objections of many House Republicans including Comer. Hunter Biden in July pleaded not guilty to charges of failing to pay taxes on more than $1.5 million in income in 2017 and 2018 despite owing more than $100,000. In the end, both FBI and Secret Service headquarters were notified about the interview plan, the interviewers' access to Hunter Biden was blocked and the former FBI agent heard from an attorney for Hunter Biden.
Persons: Hunter Biden, Joe Biden, Jonathan Ernst, Joe Biden's, didn't, Donald Trump, James Comer, Comer, David Weiss, Comer . Hunter Biden, David Morgan, Scott Malone, Howard Goller Organizations: REUTERS, FBI, Republican, Internal Revenue Service, Secret Service, Biden, Justice Department, U.S, Trump, Republicans, Thomson Locations: Wilmington , Delaware, U.S
Hunter Biden, son of U.S. President Joe Biden, departs federal court after a plea hearing on two misdemeanor charges of willfully failing to pay income taxes in Wilmington, Delaware, U.S. July 26, 2023. REUTERS/Jonathan Ernst/File PhotoAug 14 (Reuters) - Lawyers for Hunter Biden said in a late Sunday court filing that prosecutors reneged on a plea deal that would have resolved tax and firearms charges against the U.S. president’s son as his father seeks reelection. Delaware federal prosecutors said on Friday that Hunter Biden may be headed for a criminal trial after plea negotiations broke down. U.S. District Judge Maryellen Noreika rejected a proposed plea deal in July, raising concerns over its legality and the scope of immunity it offered Hunter Biden. If the case goes to trial, the president would be campaigning for reelection in November 2024, likely against former president Donald Trump, as his son faces criminal prosecution.
Persons: Hunter Biden, Joe Biden, Jonathan Ernst, president’s, Maryellen Noreika, impeaching Biden, General Merrick Garland, David Weiss, Donald Trump, Trump, Abinaya, Jack Queen, Muralikumar Anantharaman, Robert Birsel Organizations: REUTERS, U.S, District, of Justice, Delaware U.S, Republican, Thomson Locations: Wilmington , Delaware, U.S, Delaware, Bengaluru, New York
Hunter Biden, son of U.S. President Joe Biden, departs federal court after a plea hearing on two misdemeanor charges of willfully failing to pay income taxes in Wilmington, Delaware, July 26, 2023. But Hunter Biden's lawyers also said in a new Delaware federal court filing that a second agreement with prosecutors that would allow him to escape conviction for a gun-related crime is "valid and binding." Lawyers for Hunter Biden told a judge that federal prosecutors on Friday decided to "renege" on a previously agreed deal in which the son of President Joe Biden would plea guilty to tax crimes in exchange for a recommended no-jail sentence. A key sticking point for the judge was the requirement that she, not the U.S. Department of Justice, be the one to decide if Hunter Biden violates the gun agreement over a two-year period. After Noreika said she would give prosecutors and defense lawyers more time to answer her questions, Hunter Biden pleaded not guilty to the tax crimes.
Persons: Hunter Biden, Joe Biden, Noreika, Maryellen Noreika, Delaware David Weiss, Hunter, Weiss, General Merrick Garland, Hunter Biden's, Chris Clark, Donald Trump, renege Organizations: U.S, Attorney, D.C, U.S . Department of Justice Locations: Wilmington , Delaware, Delaware, California, Washington, United States
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI would be cautious on consumer sensitive areas of the market, says Wilmington Trust's Meghan ShueNick Colas, DataTrek Research co-founder and Meghan Shue, Wilmington Trust EVP, join 'Closing Bell Overtime' to talk the day's market action, stocks versus bonds, upcoming earnings and more.
Persons: Wilmington, Meghan Shue Nick Colas, Meghan Shue Organizations: Research, Wilmington Trust Locations: Wilmington
Hunter Biden, son of U.S. President Joe Biden, departs federal court after a plea hearing on two misdemeanor charges of willfully failing to pay income taxes in Wilmington, Delaware, U.S. July 26, 2023. REUTERS/Kevin WurmAug 12 (Reuters) - The appointment on Friday of a special counsel to investigate Hunter Biden ensures that the criminal probe of the president’s son will cast a long shadow over his father’s reelection campaign. Hunter Biden in July pleaded not guilty to charges of failing to pay more than $100,000 in taxes owed on over $1.5 million in income in 2017 and 2018. Half of Americans believe Hunter Biden received preferential treatment from prosecutors who tried to reach a plea deal, a Reuters/Ipsos poll in June found before the plea deal fell apart. But most Americans said the Hunter Biden plea deal did not affect their likelihood of voting for Biden next year, the poll found.
Persons: Hunter Biden, Joe Biden, Kevin Wurm, David Weiss, Biden, Bill, Clinton, Hillary, Monica Lewinsky, Weiss, Republican Donald Trump, Kevin McCarthy, Hunter, Jarrett Renshaw, Nandita Bose, Cynthia Osterman Organizations: REUTERS, Delaware U.S, Republican, Reuters, Biden, Thomson Locations: Wilmington , Delaware, U.S, Delaware, Ukraine, China
Hunter Biden, son of U.S. President Joe Biden, departs federal court after a plea hearing on two misdemeanor charges of willfully failing to pay income taxes in Wilmington, Delaware, U.S. July 26, 2023. REUTERS/Kevin WurmAug 12 (Reuters) - The appointment on Friday of a special counsel to investigate Hunter Biden helped ensure that the criminal probe of the president’s son will cast a long shadow over his father’s reelection campaign. Hunter Biden in July pleaded not guilty to charges of failing to pay more than $100,000 in taxes owed on over $1.5 million in income in 2017 and 2018. Half of Americans believe Hunter Biden received preferential treatment from prosecutors who tried to reach a plea deal, a Reuters/Ipsos poll in June found before the plea deal fell apart. But most Americans said the Hunter Biden plea deal did not affect their likelihood of voting for Biden next year, the poll found.
Persons: Hunter Biden, Joe Biden, Kevin Wurm, David Weiss, Biden, Bill, Clinton, Hillary, Monica Lewinsky, Weiss, Republican Donald Trump, Kevin McCarthy, Hunter, Jarrett Renshaw, Nandita Bose, Cynthia Osterman Organizations: REUTERS, Delaware U.S, Republican, Reuters, Biden, Thomson Locations: Wilmington , Delaware, U.S, Delaware, Ukraine, China
The ruling sent the shares of the company's preferred stock soaring 27%. The company's common stock fell 27%. Under the approved class action settlement, AMC will provide stock worth an estimated $129 million to holders of its common stock to settle potential legal claims related to a stock conversion plan. Without the proposed settlement, common stockholders and preferred shareholders would end up owning 34.28% and 65.72% of AMC, respectively. Under the proposed settlement, common stockholders and preferred shareholders would own 37.15% and 62.85%, respectively.
Persons: Brendan McDermid, Chancellor Morgan Zurn, Zurn, Tom Hals, Deepa Babington Organizations: AMC Theatre, REUTERS, AMC Entertainment Holdings, AMC, Delaware, AMC Entertainment Holdings Inc, Chancery, Thomson Locations: New York City, U.S, WILMINGTON , Delaware, Delaware, Wilmington , Delaware
The filing came moments after U.S. Attorney General Merrick Garland elevated Weiss to special counsel status, giving him additional authority and independence to pursue the investigation. As a special counsel, Weiss will be free from day-to-day supervision from the Justice Department and file charges anywhere in the United States. Hunter Biden has worked as a lobbyist, lawyer, consultant and investment banker and has said he has struggled with alcoholism and crack cocaine use. "If Weiss negotiated the sweetheart deal that couldn’t get approved, how can he be trusted as a Special Counsel?" Hunter Biden has been a focus of several Republican congressional committees.
Persons: Joe Biden's, Hunter Biden, David Weiss, Republican Donald Trump, Biden, Weiss, General Merrick Garland, TRUMP, Garland, Chris Clark, Joe Biden, Jonathan Ernst, Kevin McCarthy, couldn’t, McCarthy, Jack Smith, Robert Hur, Hunter, Devon Archer, Trump, Stephen Cheung, Sarah N, Lynch, Jeff Mason, Rami Ayyub, Moira Warburton, Jacqueline Thomsen, David Ljunggren, Andy Sullivan, Scott Malone, Alistair Bell Organizations: Republican, Republicans, Attorney, Trump, Justice Department, REUTERS, CIA, Reuters, Biden, Thomson Locations: Delaware, United States, Washington, California, Delaware , Washington, Wilmington , Delaware, U.S, Ukraine, China
REUTERS/Carlo Allegri/File PhotoCompanies Starbucks Corp FollowAug 11 (Reuters) - A U.S. judge on Friday dismissed a conservative activist investor's lawsuit against Starbucks' (SBUX.O) board, opposing the company's diversity, equity and inclusion policies and calling it frivolous. The nonprofit, which holds around $6,000 in Starbucks stock, said those policies require the company to make race-baced decisions that violate federal and state civil rights laws. The lawsuit is similar to those recently by conservative activist groups opposing corporate diversity and inclusion efforts in the wake of a June Supreme Court ruling. The ruling declared unlawful the race-conscious student admissions policies used by Harvard University and the University of North Carolina. On Friday, Daniel Morenoff of The American Civil Rights Project argued that Starbucks policies seeking to increase racial diversity among its suppliers, vendors, and employees were discriminatory and that NCPPR's cause was in the corporate interest.
Persons: Carlo Allegri, District Judge Stanley Bastian, Daniel Morenoff, Bastian, Craig, Jody Godoy, Tom Hals, Chris Reese, Marguerita Choy Organizations: Empire, REUTERS, Companies Starbucks, Starbucks, National Center for Public Policy Research, Blacks, Chief U.S, District, Harvard University, University of North, American Civil Rights, Target Corp, Thomson Locations: Manhattan, New York, U.S, Spokane , Washington, America, University of North Carolina, Florida, Wilmington , Delaware
Yellow filed for bankruptcy on Sunday with a loan offer for that amount from private equity firm Apollo, a senior lender to the company before its bankruptcy. The trucking company said earlier this week it was seeking alternative financing from MFN Partners, an investment firm that owns 41% of Yellow's stock, and Estes Express Lines, a rival in freight trucking. Yellow intends to use its bankruptcy to sell all of its assets, including 12,000 trucks and over 300 shipping service centers. The union, which represents about 22,000 laid-off Yellow employees, said the Nashville, Tennessee-based company "mismanaged" its way to bankruptcy. Yellow owes the U.S. Treasury over $700 million on a pandemic bailout loan approved by former President Donald Trump's administration in 2020.
Persons: Mike Blake, Pat Nash, Craig Goldblatt, Nash, Dennis Dunne, Donald Trump's, Dietrich Knauth, Mark Porter, Andrea Ricci, Alexia Garamfalvi, Richard Chang Organizations: U.S, Yellow Corp, MFN Partners, Estes Express, Apollo, U.S . Treasury Department, International Brotherhood of Teamsters, U.S . Treasury, Thomson Locations: Mexico, San Diego , California, U.S, Wilmington , Delaware, Nashville , Tennessee
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