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☆ SEC awards record $279 million to whistleblower
▼ + stars: | 2023-05-05 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

WASHINGTON — The nation's top securities regulator on Friday announced it had given a $279 million award through its whistleblower program — the largest in its history. The Securities and Exchange Commission said the unnamed whistleblower provided information and assistance that led to a successful enforcement action, which the agency didn't describe. The payout is well more than double the second-largest award of $114 million, issued in October 2020. Whistleblower payments are withdrawn from an investor protection fund established by Congress. Rewards can range from 10% to 30% of the money collected when sanctions exceed $1 million.

☆ Meet the urban investor combining real estate, venture capital, and private equity to spend $5.5 billion making cities more liveable
▼ + stars: | 2023-05-05 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +5 min

Urban Partners will combine real estate, venture capital, private equity, and credit under one company. "We started thinking about what real estate investing can do beyond just a piece of investment," Claus Mathisen, CEO of Urban Partners, told Insider. "You start thinking about servicing customers – the stakeholders who actually use the real estate – and you design around them." Urban Partners is working with mayors to figure out what they need to make their cities more livable. Cobe ArchitectsInstead of focusing on financial return on investment, Urban Partners is also using environmental impact as a KPI.

And Ecuadorian authorities have struggled to tackle this public security crisis “efficiently because it is mired in (a) political crisis,” González says. Ecuador’s President Guillermo Lasso is at the center of this storm, and his popularity has tanked amid widespread discontent with spiraling crime rates. Before President Guillermo Lasso took office, Ecuador had already become a key transit hub for cocaine due to its location between Peru and Colombia. Lasso told Ecuador’s legislative commission investigating him that he had not evaded taxes and that his tax trajectory was legally supported. Members of unions and civil society groups march on International Workers' Day to demand that Ecuador's President Guillermo Lasso, who is facing an impeachment process, leave office on May 1, 2023.

☆ Eli Lilly’s golden ticket is a regrettable winner
▼ + stars: | 2023-05-03 | by ( Robert Cyran | ) www.reuters.com time to read: +6 min

NEW YORK, May 3 (Reuters Breakingviews) - Eli Lilly’s (LLY.N) Mounjaro might turn out to be the biggest selling drug ever. The pharmaceutical giant is maximizing the diabetes treatment’s gain by using a golden ticket to speed its U.S. approval for use in a possibly bigger market, obesity. Lilly’s peak sales for treating obesity might be about 10 times as high, Jefferies analysts estimate. At the industry multiple of 5 times revenue, that would pad its $535 billion market value by $30 billion. Lilly may have secured a Willy Wonka-like golden ticket that allows its obesity drug to reach customers quicker.

☆ Why Prices, Inflation Are Still Soaring: Corporate Price Gouging
▼ + stars: | 2023-05-02 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +16 min

While many of the problems that helped trigger the upward spiral have abated, prices are still high and getting higher. The idea that companies are taking advantage of disruptions to push price increases on consumers has many names — greedflation, excuseflation, price gouging, corporate profiteering — but the gist is the same. Supply-chain issues and other disruptions made sense as drivers of higher prices, Chris Becker, a senior economist and the associate director of policy and research at the Groundwork Collaborative, told me. "Working people are suffering thanks to corporate greed, so we need to enact tougher rules to ensure corporations pay a price when they price gouge." Working people are suffering thanks to corporate greed, so we need to enact tougher rules to ensure corporations pay a price when they price gouge.

☆ The updated list of EVs eligible for up to $7,500 in tax credits is out — here's which models qualify under the stricter rules
▼ + stars: | 2023-05-01 | by ( Alexa St. John | ) www.businessinsider.com time to read: +1 min

If you're in the market for an electric car and were banking on tax credits to drop the price by $7,500, you now have fewer options to choose from. A Tesla Model 3 rolls out of the Tesla factory in Fremont, California. The list also details which electrified vehicles qualify for half credit, or $3,750. The tax credits are meant to incentivize the auto industry to move their supply chains and invest in electric vehicle development in the US. Few all-electric vehicles can get the full credit amount starting April 18, while others qualify for partial credits.

☆ Increasing Law Department Diversity
▼ + stars: | 2023-05-01 | by ( Michelle Graham | Practical Law | ) www.reuters.com time to read: +17 min

Create a law department DEI committee consisting of diverse law department employees to:evaluate the law department’s DEI status; develop a plan and a budget to increase or maintain law department diversity; and monitor and promote the success of the law department’s DEI initiatives. Incentivize law department employees to refer diverse candidates for job openings by paying them a referral bonus if the law department hires those candidates. Retaining Diverse Law Department EmployeesWhile recruiting and hiring diverse employees for the law department requires continuous effort, retaining them once hired presents another challenge. Discuss initiatives the law department has taken to increase and maintain DEI in the law department, such as creating a DEI hiring committee. (For more on how law departments can improve DEI at their outside law firms, see Increasing Law Firm Diversity and Increasing Law Firm Diversity: Presentation Materials on Practical Law; for general guidance on working with outside counsel, see Working Effectively with Outside Counsel Checklist on Practical Law.)

☆ Quotes: Fed plans broad revamp of bank oversight in wake of SVB collapse
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +11 min

The assertion in the introduction that the Fed should focus on large bank capital requirements is disconnected from the report's conclusions. AMERICAN BANK ASSOCIATION PRESIDENT AND CEO ROB NICOLS"We take any bank failure seriously, and we will review the findings and proposed policy changes in these reports carefully, including where the conclusions may differ. JONATHAN MONDILLO, HEAD OF NORTH AMERICAN FIXED INCOME AT ABRDN"We're likely to see higher capital requirements. What that means for the overall markets is that the devil is in the details: how stringent those capital requirements will be. A potential First Republic Bank failure could similarly present a risk to the long-term investment strategy of high net-worth individuals."

☆ US Fed plans broad revamp of bank oversight in wake of SVB collapse
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +7 min

Many commentators linked the lessons learned from the earlier crisis to the ongoing concerns about First Republic Bank. INSTITUTE OF INTERNATIONAL BANKERS CEO BETH ZORC"The IIB commends the Federal Reserve's timeliness of producing its report on SVB. "There are similarities between SVB's situation and what is happening with First Republic Bank: both are affected by the rapid movement of very large sums of money." A potential First Republic Bank failure could similarly present a risk to the long-term investment strategy of high net-worth individuals." "It feels isolated, than the rest of the regional bank system, feels like it's in a different place than where FRC is."

WASHINGTON — The Biden administration on Thursday announced a first round of sanctions targeting Russia and Iran for engaging in hostage-taking and the wrongful detention of U.S. citizens abroad. The State Department has formally moved to declare Gershkovich's detention a wrongful one, which opens up additional resources to secure his release. The administration has identified at least two American citizens who are wrongfully detained in Russia and three in Iran, along with one legal permanent U.S. resident. One administration official said relevant families were briefed on the new sanctions ahead of Thursday's announcement. Since Russia's full-scale invasion of Ukraine last February, Washington and its allies have imposed rounds of coordinated sanctions vaulting Russia past Iran and North Korea as the world's most-sanctioned country.

☆ Elon Musk's potential plan for turning Twitter into a super app is an uphill battle. These are the 3 biggest things holding the strategy back, according to experts.
▼ + stars: | 2023-04-27 | by ( Paige Hagy | ) www.businessinsider.com time to read: +8 min

And while he's never publically detailed specific plans for a super app, recent changes at Twitter offer some clues. He first teased his intentions to transform Twitter into a super app called "X" prior to acquiring it in October 2022. It 'makes no sense' to build on TwitterFor starters, Twitter is a peculiar place to build a super app, some experts said. A super app in the US is difficultPerhaps a bigger issue not specific to Musk's plans for Twitter is whether a super app in the US is even possible. So if anyone can build a super app in the US, it would be him.

☆ Elon Musk's everything app could include Twitter. But industry experts can't make sense of the strategy.
▼ + stars: | 2023-04-26 | by ( Paige Hagy | ) www.businessinsider.com time to read: +8 min

Elon Musk wants to create a US super app, but industry experts have some concerns. And while he's never publically detailed specific plans for a super app, recent changes at Twitter offer some clues. He first teased his intentions to transform Twitter into a super app called "X" prior to acquiring it in October 2022. It 'makes no sense' to build on TwitterFor starters, Twitter is a peculiar place to build a super app, some experts said. A super app in the US is difficultPerhaps a bigger issue not specific to Musk's plans for Twitter is whether a super app in the US is even possible.

☆ The steps that could help address biodiversity loss could also help fix the climate crisis
▼ + stars: | 2023-04-24 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +6 min

Biodiversity loss doesn't always get as much attention as the climate but the crises are linked. The animal, named Sudan, was the last male northern white rhino. The loss of biodiversity doesn't always get as much attention as the climate crisis but the two challenges are linked. "Anybody who's working with these issues — biodiversity, climate change, and the underlying drivers of it — realize the interconnectedness of it," Chomba said. Nachmany said some parts of the financial world are recognizing that biodiversity loss and the climate crisis are two parts of the same problem.

☆ How the U.S. Clean Air Act lets closed coal plants keep polluting for years
▼ + stars: | 2023-04-22 | by ( Tim Mclaughlin | ) www.reuters.com time to read: +10 min

Under the federal program, states distribute a certain number of allowances to power plants annually. Reuters found dozens of other examples of coal plants using credits from closed facilities to help comply with pollution rules over the past five years. During the 2021 ozone season, New Madrid’s pollution was five times higher than average among coal plants participating in the NOx-reduction program, EPA data show. RED-STATE PROTESTSUtilities and lawmakers in Republican-controlled states have pushed hard against curbs on coal pollution, including the EPA’s latest NOx-reduction regulations. But even at that price, NOx allowances will find buyers among coal plants, including those that operate at high pollution rates.

☆ Europe approves its $47 billion answer to Biden's CHIPS Act — here's everything that's in it
▼ + stars: | 2023-04-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

The initiative, dubbed the European Chips Act, seeks to help the bloc compete with the U.S. and Asia on tech, and secure control over a critical bit of technology behind the world's electronics products and devices. What's in the Chips Act? The European Chips Act is a massive, 43-billion-euro ($47 billion) package of public and private investments that aims to secure its supply chains, avert shortages of semiconductors in the future, and promote investment into the industry. The Chips Act has three main aims: Building large-scale capacity and innovation. "The Chips act puts Europe in the first line of cutting-edge technologies which are essential for our green and digital transitions."

☆ Some electric vehicles from BMW, Nissan, Hyundai and Volkswagen will no longer get federal tax credits
▼ + stars: | 2023-04-18 | by ( Emma Newburger | ) www.cnbc.com time to read: +4 min

Brown | AFP | Getty ImagesFewer electric vehicles now qualify for federal tax credits after the Biden administration this week unveiled stricter rules for battery sources that will prioritize domestically manufactured models. The new list published by the Treasury Department includes 16 U.S. manufactured models from Ford , General Motors , Tesla and Stellantis . Ten of the models on the new list will qualify for the full $7,500 tax credit, with the rest qualifying for half that amount. Vehicles losing credits include those from BMW, Hyundai, Nissan, Rivian , Volkswagen and Volvo Cars. The bill set various manufacturing requirements for new all-electric and plug-in hybrid vehicles to qualify for the $7,500 tax credit.

☆ Premarket stocks: Apple is giving banks a run for their money
▼ + stars: | 2023-04-18 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Apple’s savings account is managed through Apple products and users must have Apple’s credit card, simply called Apple Card, to qualify for one. “It’s very much a loyalty play because it’s a multi-level process: To get the Apple credit card you need the phone, and to get the savings account you need the credit card. The Apple savings account through Goldman is also insured by the Federal Deposit Insurance Corporation. And Apple’s savings account is hardly the best out there, either. UFB Direct offers a savings account with more than a 5% annual percentage yield.

☆ Change.org's CTO has advice for every company that wants to make an impact: work fast, lean into tech, and focus on solutions
▼ + stars: | 2023-04-17 | by ( Meira Gebel | ) www.businessinsider.com time to read: +5 min

This article is part of "Tech Leadership Playbook," a series that shares advice from the most innovative tech execs. Think like a tech company, even if you're not oneWhen Zhou started at Change.org, her goal was to help the organization scale and meet demand. "I think nowadays, every organization needs to think about themselves as a technology company," Zhou said. And while Change.org is a values-driven organization, Zhou instructed her team to think like a tech company: solutions-driven and fast on their feet. "If a team plans to utilize technology to make an impact, then they need to fundamentally position themselves as a technology company."

☆ These are the EVs to buy if you want a $7,500 tax credit
▼ + stars: | 2023-04-17 | by ( Alexa St. John | ) www.businessinsider.com time to read: +1 min

If you're in the market for an electric car and were banking on tax credits to drop the price by $7,500, you now have fewer options to choose from. Monday's news also detailed which electrified vehicles qualify for half credit, or $3,750. The two halves of the credit are related to the origin of its battery and critical minerals components. The tax credits are meant to incentivize the auto industry to move their supply chains and invest in electric vehicle development in the US. Only 10 electric vehicles can get the full credit amount starting April 18, while six others qualify for partial credits.

☆ How Timberland, Vans, VF Corp. are making sure their cotton isn't 'greenwashed'
▼ + stars: | 2023-04-15 | by ( Kaitlin Balasaygun | ) www.cnbc.com time to read: +9 min

In this article VFC Follow your favorite stocks CREATE FREE ACCOUNTSmallholder Farmers Alliance purchase of organic cotton from farmer member. But the focus quickly moved to regenerative agriculture, a practice more activist shareholders are pressing with big consumer companies. "Regenerative agriculture is really important to Timberland and VF because it's about restoring the soil," said Atlanta McIlwraith, Timberland's director of social impact and activation. watch nowVF Corp's efforts with regenerative cotton in Haiti come at a time of growing pressure from consumers for companies to adopt more sustainable practices. So, we tackle the problem from its roots, which is environmental degradation in the country," said Timote Georges, executive director and co-founder of Smallholder Farmers Alliance.

☆ An AI safety expert outlined a range of speculative doomsday scenarios, from weaponization to power-seeking behavior
▼ + stars: | 2023-04-15 | by ( Will Gendron | ) www.businessinsider.com time to read: +7 min

A research paper by an AI safety expert speculates on future nightmarish scenarios involving the tech. A recent paper authored by Dan Hendrycks, an AI safety expert and director of the Center for AI Safety, highlights a number of speculative risks posed by unchecked development of increasingly intelligent AI. Emergent goals: It's possible that, as AI systems become more complex, they obtain the capability to create their own objectives. An AI safety expert outlined a range of speculative doomsday scenarios from weaponization to power-seeking behavior. A similar sentiment was recently expressed in an open letter signed by Elon Musk and a number of other AI safety experts.

☆ Tesla is discounting its cars in Singapore by $3,000 to $3,800 to make them 'more affordable' — but they still cost upwards of $57,000
▼ + stars: | 2023-04-14 | by ( Marielle Descalsota | ) www.businessinsider.com time to read: +3 min

Tesla recently slashed the prices of its cars in Singapore — but not by much. According to the press release, Model 3 and Model Y cars are now between 4.35% to 5% cheaper. This means that it's likely that a Tesla car's COE is more expensive than what it actually retails for. But Tesla cars still enjoy some discounts from the Singapore government, as local authorities are trying to incentivize the ownership of electric cars. The cost of Tesla cars can be rebated up to SG$45,000 in the EV Early Adoption Incentive and Vehicular Emission Schemes, Tesla said in the press release.

☆ A small, specialty water brand created a customer loyalty program to thank consumers, and it led to a 90% repurchase rate
▼ + stars: | 2023-04-14 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +6 min

Customer loyalty programs incentivize customers to engage with and support their favorite brands. They found that making personal connections through loyalty programs garnered more repeat customers and better feedback. We learn all kinds of things from our customer loyalty program." We've found from our loyalty program that when it comes to attracting and retaining good customers, the only thing that may be second to a strong loyalty program is excellent service." Loyalty program members also tend to spend more with companies and refer them to friends and family, according to a Forrester report.

☆ Companies like Uber and Amazon use AI to pay people different wages for the same work, a new study finds
▼ + stars: | 2023-04-13 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Some companies use AI to pay workers "different amount for the same amount of work," per new research. As companies adopt AI, she's concerned these practices could become prevalent in other industries. According to Dubal, companies like Amazon and Uber have "massive data sets" on the contract workers using their delivery or rideshare platforms, including when they work, for how long, and what kind of pay they've taken for past jobs. One Uber driver Dubal interviewed, Domingo, recalled being one ride of short of unlocking a $100 bonus one evening, but then said he experienced 45 minutes of "dead time" in a popular area before he was able to get another ride. Dubal described the alleged variable pay system as the "gamblification of work," a sentiment other gig workers shared.

☆ This Friday could hold the key to our bank stocks and the direction of the market for weeks
▼ + stars: | 2023-04-11 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

How the banks deliver could set the market tone in the coming weeks. Jim said Monday that such a pause could spark a big stock market rally while keeping rates high enough for banks to make money. How these dynamics play out will factor into the Fed's next rate move — and as a result, market sentiment. Since deposit levels directly contribute to a bank's ability to make loans, it's not surprising that commercial bank lending declined in recent weeks. To be sure, Wells is a traditional bank that must deal with short-term deposit and lending gyrations.

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