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☆ The bond market's recession warning has gotten more urgent
▼ + stars: | 2023-03-13 | by ( Patti Domm | In | ) www.cnbc.com time to read: +5 min

The bond market is sending a more urgent recession warning and also signaling that the Federal Reserve may have to pause raising interest rates — giving up its fight against inflation. The sharp move in the 2-year yield also resulted in a rapid steepening of the yield curve. "The steepening always starts to happen because the market expects the Fed to cut rates in response to that recession." DoubleLine Capital CEO Jeffrey Gundlach also said the "aggressively steepening" of the Treasury yield curve after inversion is "highly suggestive of imminent recession." The 2-year yield jumped above 5% after he spoke.

☆ We're looking for stocks to buy for the Club now that regulators saved SVB depositors
▼ + stars: | 2023-03-12 | by ( Jim Cramer | ) www.cnbc.com time to read: +6 min

You can't just wipe out a bank and about $170 billion in SVB deposits and expect to see business as normal in the country. If you are a depositor, let's just say you aren't going to be so foolish as to concentrate your deposits going forward. But it did have a very low retail share of deposits, like SVB, so perhaps that may have had something to do with it. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

[1/5] Asylum seekers board a bus after crossing into Canada from the U.S. in Champlain, New York, U.S., February 28, 2023. Many of the arrivals abandoned plans to seek asylum in the United States, deterred by long processing times and restrictive definitions for asylum, according to aid officials and interviews with asylum seekers. "We want to help asylum seekers stabilize their lives whether in New York City or elsewhere." The Quebec government has said the increase in asylum seekers is straining its capacity to house people and provide basic services. Immigration experts said closing off the border to asylum seekers could push migrants to take even riskier routes.

Many of the arrivals abandoned plans to seek asylum in the United States, deterred by long processing times and restrictive definitions for asylum, according to aid officials and interviews with asylum seekers. "We want to help asylum seekers stabilize their lives whether in New York City or elsewhere." REUTERS/Christinne Muschi Acquire Licensing RightsThe Quebec government has said the increase in asylum seekers is straining its capacity to house people and provide basic services. The federal government said it has relocated more than 5,500 asylum seekers to other provinces since June, the first time it has done so. Immigration experts said closing off the border to asylum seekers could push migrants to take even riskier routes.

Persons: Zulema Diaz, Maryangel Diaz, Carlos Osorio, Diaz, Justin Trudeau, Joe Biden, Sean Fraser, Alejandro Mayorkas, Trudeau, Biden, Zulema, Eric Adams, Kate Smart, Fabien Levy, Smart, Ilze Thielmann, Raymond Theriault, Theriault, Christinne, Pierre, Luc Bouchard, You’re, Jamie Chai Yun Liew, Anna Mehler Paperny, Ted Hesson, Denny Thomas, Suzanne Goldenberg Organizations: REUTERS, New, . Homeland, Washington , D.C, Ottawa, New York City, Department of Homeless Services, U.S . Department of Homeland Security, Reuters Graphics Canada, United, Colombian, Immigration, Refugee Board, Canadian, Reuters, U.S, . Citizenship, Immigration Services, TLC, Border Patrol, University of Ottawa, Thomson Locations: U.S, Quebec, Niagara Falls , Ontario, Canada, CHAMPLAIN , New York, WASHINGTON, Peru, United States, New York City, Plattsburgh, Washington ,, New York State, New York, Haitian, Syracuse, El Paso, West Virginia, Niagara Falls, Guatemala, Champlain , New York, Montreal, Canada's province, Manitoba, Washington

"Most luxury retailers don't think Hong Kong will return to the dizzy levels of 2014 when the market here peaked," said Simon Smith, Savills' senior director of research and consultancy in Hong Kong. Morgan Stanley (MS.N) forecast Hong Kong visitor numbers this year will reach just 70% of 2018 arrivals. It estimates retail sales will grow 15%, holding at around 80% of retail trade from the pre-COVID year. That outstripped total Hong Kong retail sales from a peak hit in 2013 at HK$494.5 billion ($63.0 billion), according to the city's statistics department. ($1 = 6.8510 yuan)($1 = 7.8498 Hong Kong dollars)Reporting by Farah Master, Jessie Pang, Anne Marie Roantree, Angel Woo and Donny Kwok in Hong Kong, Sophie Yu in Beijing, and Mimosa Spencer in Paris; Writing by Miyoung Kim; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ Trump asks for the moon in NY attorney general fraud case, demanding more time despite strict warning from judge
▼ + stars: | 2023-03-03 | by ( Laura Italiano | ) www.businessinsider.com time to read: +4 min

Lawyers for Trump say they can't meet their deadlines in the NY attorney general's fraud lawsuit. There are 16 defendants named in the attorney general's lawsuit, a number that includes Donald Trump, Donald Trump, Jr., Eric Trump, Ivanka Trump, and a dozen other executives and Trump Organization sub-entities. "The current schedule imposes significant hardship on Defendants," the Trump lawyers argued in a supplemental filing. "The Defendants' claimed hardship is self-inflicted," the attorney general countered in a filing last week, after the Trump lawyers first broached moving deadlines. The judge, too, has yet to rule on the Trump lawyers' request for more time.

☆ Australia's Recharge Industries buys failed battery firm Britishvolt
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 27 (Reuters) - Australia's Recharge Industries said on Monday it had bought Britishvolt, the collapsed startup which had struggled to fund a major electric vehicle (EV) battery factory in northern England. Recharge Industries, privately owned by New York-based investment fund Scale Facilitation, was selected earlier this month as the preferred bidder for Britishvolt, which had outlined plans for a 3.8 billion pound ($4.54 billion) gigafactory. Britain's ambitions of building a home-grown EV battery industry that can support domestic car production were thrown into doubt when Britishvolt collapsed in January, after failing to raise enough funding for the factory in Cambois. "We have the right plan in place, to match and support the region's energy and ambition to become a major player in the international battery market." Recharge Industries, which is building a lithium-ion cell factory in Australia expected to begin production next year, emerged as Britishvolt's buyer following a bidding process that saw multiple offers.

☆ Top Fox News anchor says the company has banned coverage of the Dominion lawsuit that revealed how Tucker Carlson and other Fox stars privately dismissed election conspiracy theories while peddling th
▼ + stars: | 2023-02-27 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Internal messages show how Fox News anchors privately mocked 2020 election conspiracy theories. Dominion, an elections technology company, filed a defamation lawsuit against Fox News in March 2021, accusing the media company of spreading conspiracy theories that claimed Dominion helped rig the 2020 election results. "It's dangerously insane these conspiracy theories," Fox reporter Lucas Tomlinson said to Bret Baier, host of Special Report. A search through FoxNews.com turns up zero recent stories regarding the Dominion lawsuit. "That is an actual threat to democracy and it points up the core problem which is we're not really very serious about democracy if we're using electronic voting machines," Carlson said.

☆ Morgan Stanley is cooperating with U.S. regulators on block-trading probe
▼ + stars: | 2023-02-24 | by ( Saeed Azhar | ) www.reuters.com time to read: +2 min

Feb 24 (Reuters) - Morgan Stanley (MS.N) said it was cooperating with U.S. regulators over investigations into its block-trading practices and providing authorities with information, according to a filingon Friday. The Wall Street firm added it could face civil claims from market participants who said they were harmed by the company's practices. Morgan Stanley said it has been responding to subpoenas and other requests for information from the U.S. Attorney's Office for the Southern District of New York and the enforcement division of the Securities and Exchange Commission. On Feb. 6, a New York state judge refused to dismiss a proposed class action against Morgan Stanley and other underwriters that helped the media company Viacom Inc sell $2.7 billion of stock in March 2021. Archegos collapsed in March 2021 after failing to meet margin calls on swaps on Viacom CBS and other stocks.

☆ Crypto Company CoinEx Sued by New York Over Failure to Register
▼ + stars: | 2023-02-23 | by ( Mengqi Sun | ) www.wsj.com time to read: +2 min

The New York attorney general’s office has sued cryptocurrency platform CoinEx, alleging it failed to register as a securities and commodities broker-dealer and misrepresented itself as a crypto exchange. But New York prosecutors said CoinEx isn’t registered with the U.S. Securities and Exchange Commission or designated by the Commodity Futures Trading Commission as an exchange, as required by New York state law. The office of New York Attorney General Letitia James said its prosecutors also were able to buy and sell crypto on CoinEx in New York, despite the fact the company isn’t registered in the state. New York law requires securities and commodities brokers to register with the state to do business there. The suit, announced Wednesday, is the latest action by the New York attorney general in policing the crypto sector and using the state’s laws to protect investors.

☆ A mystery buyer wanted an 800-square-foot trailer in the Hamptons so badly that they offered a staggering $3.75 million for it
▼ + stars: | 2023-02-23 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +4 min

A property in the Hamptons' famed Montauk Shores trailer park is poised to sell for $3.75 million. The current most expensive trailer in Montauk Shores sold for $1.85 million in 2022. Montauk Shores counts hedge-fund manager Dan Loeb and Vitamin Water cofounder Darius Bikoff as residents. If the $3.75 million deal goes through, it would beat the park's sales record by nearly $2 million — surpassing the record set by a $1.85 million sale in 2022. Gold currently reps another property in Montauk Shores, a neighboring trailer pictured here that's on the market for $2 million.

☆ ‘It’s a major blow’: Dominion has uncovered ‘smoking gun’ evidence in case against Fox News, legal experts say
▼ + stars: | 2023-02-23 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

While the legal experts cautioned that they would like to see Fox News’ formal legal response to the filing, they all indicated in no uncertain terms that the evidence compiled in Dominion’s legal filing represents a serious threat to the channel. On one occasion, Carlson demanded that Fox News White House correspondent Jacqui Heinrich be fired after she fact-checked a Trump tweet pushing election fraud claims. Tushnet said that in all of her years practicing and teaching law, she had never seen such damning evidence collected in the pre-trial phase of a defamation suit. “Donald Trump seems to be very good at generating unprecedented situations.”David Korzenik, an attorney who teaches First Amendment law and represents a number of media organizations, said that the filing showed Dominion’s case against Fox News has serious teeth. “Their motion for summary judgment takes an extreme and unsupported view of defamation law and rests on an accounting of the facts that has no basis in the record.”But the attorneys said Dominion’s filing showed it had built a powerful case against Fox.

[1/2] Representations of cryptocurrency Bitcoin are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/IllustrationNEW YORK, Feb 22 (Reuters) - CoinEx was sued on Wednesday by New York Attorney General Letitia James, who accused the cryptocurrency exchange of transacting business without registering with the state. In a complaint filed with a New York state court in Manhattan, James said CoinEx's activities violated the Martin Act, a powerful state law used to fight financial fraud. Reporting by Jonathan Stempel in New York; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Fact Check-Altered image of Joe Biden and Volodymyr Zelenskiy holding hands
▼ + stars: | 2023-02-21 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

An altered image appearing to show U.S. President Joe Biden and Ukrainian President Volodymyr Zelenskiy holding hands has been shared online following Biden’s visit to Kyiv on Feb. 20. Examples of the image shared online can be viewed (here) and (here). The image is digitally altered, and a reverse image search reveals that the original photograph shows the pair walking side-by-side, not holding hands (here). The name of a meme Twitter handle (@MidnightMitch) can be seen to the right of the altered image (here), archived (archive.is/wip/bN0Ew). The account routinely shares altered images with the same watermark, and describes itself as a “meme making” profile (twitter.com/MidnightMitch).

☆ Cybersecurity firm Darktrace hires EY to review financial processes after damning short seller report
▼ + stars: | 2023-02-20 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

LONDON — Cybersecurity firm Darktrace on Monday said it has appointed auditing firm EY to review its "key financial processes and controls," in a bid to soothe investor fears after a short seller accused the company of manipulating its accounts. "The Board believes fully in the robustness of Darktrace's financial processes and controls. EY will report to the chair of Darktrace's audit and risk committee, Paul Harrison, Darktrace said. Darktrace shares rose more than 2% Monday on the heels of the announcement. The firm said it was "deeply skeptical about the validity of Darktrace's financial statements" and believed sales and growth rates may have been overstated.

☆ Darktrace hires EY for independent review of finances
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 20 (Reuters) - British cyber security company Darktrace (DARK.L) said on Monday it had commissioned a third-party review of its finances by EY, weeks after a short-seller questioned its results. Darktrace said the appointment of the auditor EY, formerly known as Ernst & Young, was a sign of its confidence in its financial processes. The group said it was "deeply skeptical about the validity of Darktrace's financial statements," prompting Darktrace to issue a rebuttal. Darktrace said in its statement on Monday that it was appropriate for a third party review to confirm the company's financial position. As a sign of that confidence, we have commissioned this independent third-party review by E&Y," chairman Gordon Hurst said.

☆ The SEC has a stablecoin firm in its sights — and it could shake up the whole $137 billion market
▼ + stars: | 2023-02-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

Paxos has been ordered by New York regulators to stop issuing the Binance USD (BUSD) stablecoin. The move will have major implications for the $137 billion market, experts told CNBC. Are stablecoins securities? Renato Mariotti partner, BCLPIf BUSD is deemed a security by the SEC then the regulator would have oversight over the stablecoin. "Absent a successful fight, it is most likely BUSD will no longer be sold into the U.S. or be available on U.S.-based digital asset exchanges," Lansing said.

☆ Tucker Carlson called Trump a 'demonic force' in a text on January 6, filing reveals
▼ + stars: | 2023-02-18 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

Tucker Carlson called Donald Trump a "demonic force" in a text to his producer on January 6. Fox hosts privately accepted Trump's election loss but continued to air conspiracy theories, texts show. Lindell spouted election fraud theories on air after voicing them for Carlson's staff in a pre-interview. In another text exchange, Carlson spoke critically of pro-Trump guests who promoted election fraud conspiracy theories on Fox News. In separate texts, he told Pfieffer and Laura Ingraham that Sidney Powell, the pro-Trump lawyer who championed outlandish election fraud conspiracy theories, was "a fucking nutcase" and "lying."

The documents were publicly released for the first time this week as part of Dominion Voting Systems' $1.6 billion lawsuit against Fox Corp and its cable TV networks. Dominion, Fox Corp and Fox News filed their motions for summary judgment this week, which unveiled evidence from months of discovery and depositions that had been private until this point. Fox News anchors, as well as top Fox Corp brass including Rupert Murdoch and Lachlan Murdoch, were questioned in recent months. In court papers Thursday, Fox Corp said it had "no role in the creation and publication of the challenged statements – all of which aired on either Fox Business Network or Fox News Channel." But he's not going to destroy us," court papers show.

☆ Tucker Carlson and Sean Hannity discussed wanting a Fox News reporter fired after she pushed back on Trump's election lies
▼ + stars: | 2023-02-17 | by ( Erin Snodgrass | Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

Tucker Carlson and Sean Hannity discussed trying to have a Fox reporter fired for a fact-checking tweet. The Fox News commentators took issue with the reporter's rejection of Trump's 2020 election lies. A new court filing in Dominion Voting Systems' lawsuit again Fox includes troves of text messages. Carlson and Hannity apparently did not take kindly to her public rejection of Trump's messaging. Hannity responded saying he had already sent Heinrich's tweet to Fox News CEO Suzanne Scott with a "really?"

☆ Fox News exec said 'the North Koreans do a more nuanced show' than the now-fired host Lou Dobbs: lawsuit
▼ + stars: | 2023-02-17 | by ( Cheryl Teh | Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

Fox News president Jay Wallace said North Korean propaganda has more nuance than Lou Dobbs. Wallace's comments about Dobbs were cited in a court filing by Dominion Voting Systems. Wallace said in September 2020 that "the North Koreans do a more nuanced show" than Dobbs, per a filing from Dominion Voting Systems released on Thursday. This filing was part of Dominion Voting Systems' defamation lawsuit against Fox News. Dominion Voting Systems has alleged that Fox defamed it by pushing a false conspiracy theory that it manipulated election results.

☆ Analysis: Fox News has been exposed as a dishonest organization terrified of its own audience
▼ + stars: | 2023-02-17 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

Trump was enraged that Fox News was the first network to call the critical swing state of Arizona for now-president Joe Biden. In the days and weeks after the presidential contest had been called, Fox News’ audience listened to Trump and rebelled against the channel. Behind the scenes, Fox News executives and hosts were in panic. Did I mention Cavuto?”The fear that Fox News’ audience would abandon it for good also appeared to drive programming decisions. When Lindell appeared on Newsmax and criticized Fox News, executives at Fox News “exchanged worried emails about alienating him,” the legal filing said.

☆ Fox News stars and executives privately trashed Trump’s election fraud claims, court document reveal
▼ + stars: | 2023-02-16 | by ( Oliver Darcy | ) edition.cnn.com time to read: +2 min

New York CNN —The most prominent stars and highest-ranking executives at Fox News privately ridiculed claims of election fraud in the 2020 election despite the right-wing channel allowing lies about the presidential contest to be promoted on its air, damning messages contained in a Thursday court filing revealed. In one set of messages revealed in the court filing, Carlson texted Ingraham, saying that Sidney Powell, an attorney who was representing the Trump campaign, was “lying” and that he had “caught her” doing so. Ingraham responded, “Sidney is a complete nut. Ditto with Rudy [Giuliani].”The messages also revealed that Rupert Murdoch, the chairman of Fox Corporation, did not believe Trump’s election lies and even floated the idea of having Carlson, Hannity, and Ingraham appear together in prime time to declare Joe Biden as the rightful winner of the election. In a statement, Fox News argued that the Thursday court filing contained cherry-picked quotes lacking context.

☆ Tucker Carlson told his producer Trump is 'the undisputed world champion' of destroying things and could ruin Fox News if it didn't back his election lies
▼ + stars: | 2023-02-16 | by ( Sonam Sheth | Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

Tucker Carlson called Trump the "undisputed world champion" of destroying things, per a new court filing. Carlson texted his producer after the 2020 election that Trump could "easily destroy" Fox News if "we play it wrong." "We worked really hard to build what we have," Carlson texted his producer, Alex Pfeiffer, on November 5, 2020, according to the filing. At another point the same day, Carlson texted that "we've got to be incredibly careful right now. Dominion became a focal point for Trumpworld's election-related conspiracy theories shortly after Election Day 2020.

“From the top down, Fox knew ‘the dominion stuff’ was ‘total bs,’” Dominion wrote in its filing for summary judgment in its favor. Dominion must prove that the network either knew the statements it aired were false or recklessly disregarded their accuracy. Dominion said in its brief that Murdoch internally described the election claims as “really crazy” and “damaging,” but declined to wield his editorial power to stop them. In its summary judgment filing, Fox argued that Trump’s claims about the election were “undeniably newsworthy” and that viewers understood they were merely being reported as allegations. Fox also argued that Dominion’s suit advances overbroad interpretations of defamation law, takes quotes from its coverage out of context and ignores its reporting of Dominion’s rebuttals to the false claims.

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