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☆ Biden and McCarthy race to sell their debt ceiling deal to lawmakers before the government runs out of money
▼ + stars: | 2023-05-28 | by ( Kevin Liptak | ) edition.cnn.com time to read: +5 min

“No one claiming to be a conservative could justify a YES vote,” wrote Rep. Bob Good, Republican of Virginia, on Twitter. Biden spoke Saturday with the top Democrat in the House, Rep. Hakeem Jeffries, who will be responsible for marshaling his members. He said he hopes the House will vote as soon as Wednesday, allowing precious little time for each party’s leaders to secure sufficient support. As part of the deal, the White House has also appeared to have made concessions to House Republican negotiators on work requirements for people receiving food stamps. The current work requirement for the program, formally called the Supplemental Nutrition Assistance Program or SNAP, only applies to certain adults between the ages 18-49.

☆ Carper Says He Will Retire, Vacating Seat in Solidly Democratic Delaware
▼ + stars: | 2023-05-22 | by ( Luke Broadwater | ) www.nytimes.com time to read: +1 min

Senator Thomas R. Carper, a veteran Democrat from Delaware, announced on Monday that he would not seek re-election next year, opening up a seat in a deep-blue state that he said he hoped would go to his handpicked successor. Mr. Carper, 76, is in his fourth term in the Senate and is the last surviving Vietnam veteran to serve there. He has held public office since the 1970s, first as Delaware’s treasurer, then for a decade as a congressman, then as governor and, since 2001, as a senator. “This just seems like a good time just to turn the page and move on,” Mr. Carper said at a news conference in Wilmington, Del. He added, “I’ve got miles to go, and I’m going to make every day count.”The senator said he intended to do all he could to help Representative Lisa Blunt Rochester, the Democrat who serves as the state’s only member of the House and was his former intern, win the race to succeed him.

☆ Unbowed, Proud Boys are planning now for their biggest Pride Month disruptions ever, extremism watchdogs warn
▼ + stars: | 2023-05-20 | by ( Laura Italiano | ) www.businessinsider.com time to read: +10 min

But this year, the Proud Boys are redoubling their anti-LGBTQ+ efforts, and are laser focused on Pride month. "It's a dangerous thing, because the Proud Boys are all about violence, and so are the Patriot Front, she said. A banner shared to a Proud Boys Telegram channel by someone calling himself a member of the Middle Tennessee Proud Boys chapter. A banner posted on several Proud Boys Telegram channels by an individual identifying themselves as a member of the Proud Boys Michiana (Michigan/Indiana) chapter. The Proud Boys' planned propaganda promoting anti-LGBTQ+ "Proud Day" celebrations timed for Juneteenth, an annual commemoration of the end of slavery in the US.

☆ These are the top 10 holdings of Berkshire Hathaway's $325 billion stock portfolio
▼ + stars: | 2023-05-18 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

These are the top 10 stocks held in Berkshire Hathaway's $325 billion stock portfolio as of March 31. With various portfolio changes in the first quarter of the year, Berkshire Hathaway's top 10 holdings of US stocks has shifted, though Apple still represents a near 50% of the portfolio. In fact, the top 10 positions in Berkshire Hathaway's portfolio make up a massive 90.2% of its entire portfolio. These are the top 10 stocks held in Berkshire Hathaway's $325 billion US stock portfolio as of March 31. American ExpressCredit cards fill a display at American Express headquarters John Moore/Getty ImagesTicker: AXPPosition: $25.0 billionPercent of portfolio: 7.7%2.

☆ Her son said his stepdad was sexually abusive. A judge gave the stepdad custody anyway. Then she found the photographs.
▼ + stars: | 2023-05-18 | by ( Olivia Gentile | ) www.businessinsider.com time to read: +58 min

Robert confronted Winenger with the allegations that November, and within weeks Winenger denied the claims in family court. In a family court hearing in Vista, California, on October 28, 2021, Commissioner Patti Ratekin chastised Jill Montes for allegedly alienating her kids from her ex-husband. From a list provided by the Delaware Family Court, Kelly chose a psychologist, William Northey. Their father cited the report in asking a Delaware family court judge to order the boys to change schools. Family Court of the State of Delaware, New Castle CountyCiting the email and a subsequent report, Michael pressed Ostroski to order the transfer.

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WILMINGTON, Delaware, May 15 (Reuters) - The U.S. Virgin Islands has subpoenaed Tesla Inc (TSLA.O) CEO Elon Musk for documents in its lawsuit accusing JPMorgan Chase & Co (JPM.N) of helping enable sexual abuses by late sex offender Jeffrey Epstein. The Virgin Islands did not provide further explanation for its interest in obtaining documents from Musk. In the subpoena, the Virgin Islands demanded any documents Musk has about Epstein’s involvement in human trafficking and his procurement of girls or women for commercial sex. Additionally, the subpoena sought any communications between the entrepreneur and JPMorgan about Epstein as well as between Musk and Epstein. Musk is the second tech entrepreneur touched by the Virgin Islands litigation.

☆ Elon Musk documents subpoenaed in Jeffrey Epstein lawsuit by U.S. Virgin Islands
▼ + stars: | 2023-05-15 | by ( Tom Hals | Thomson Reuters | Tom Hals Is An Award-Winning Reporter With Years Of Experience Working In Asia | ) www.reuters.com time to read: +3 min

WILMINGTON, Delaware, May 15 (Reuters) - The U.S. Virgin islands subpoenaed Tesla Inc (TSLA.O) CEO Elon Musk in its litigation into the role played by JPMorgan Chase & Co (JPM.N) in the activity of sex offender Jeffrey Epstein, according to a Monday court filing. The Virgin Islands issued a subpoena to Musk on April 28 as part of its investigation, according to the court filing. The filing said Musk, one of the richest people in the world, may have been referred to JPMorgan by Epstein. The U.S. Virgin Islands accuses JPMorgan of missing red flags about Epstein's abuse of women on Little St. James, a private island he owned there. Reporting by Tom Hals in Wilmington, Delaware Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Abortion Showdown in North Carolina May Hinge on a Single Vote
▼ + stars: | 2023-05-15 | by ( Kate Kelly | ) www.nytimes.com time to read: +1 min

On Wednesday, flanked by supporters in a fifth-floor classroom at Cape Fear Community College in Wilmington, Mr. Cooper made a direct appeal to residents. North Carolina’s Republican-dominated legislature has passed a bill banning most abortions after 12 weeks. Mr. Cooper, a Democrat, vetoed the bill. But to prevent the legislature from using its razor-thin supermajority to override his veto, Mr. Cooper is asking voters to pressure Republican lawmakers. Convincing just one legislator will keep the state’s current abortion law — allowing it up to 20 weeks — in place.

In midsized metros Metros with 250,000 to one million residents. An Emerging Divide Mobility has risen for college-educated workers, even as it has fallen for workers without a degree. College-educated workers leaving the most expensive parts of the country are also not spreading out equally everywhere — or even going to parts of the country that are struggling. Net migration among college graduates Loss Gain Among the 12 most expensive metros, net college migration has generally declined or turned negative. “Consumer cities,” as she puts it, are increasingly replacing “producer cities” as the places where college graduates want to live.

☆ Instant View: US April CPI rise gives Fed little room for pivot soon
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +7 min

The Consumer Price Index (CPI) rose 0.4% last month after gaining 0.1% in March, the Labor Department said on Wednesday. In the 12 months through April, the CPI increased 4.9% after advancing 5.0% on a year-on-year basis in March. Ahead of this reading Fed President John Williams warned that they were not done raising rates. I think the Fed will raise rates again in June and then pause. "There will be another CPI report before the Fed meets, and expectations are you will start to see the effect of rents easing."

☆ US April CPI rise gives Fed little room for pivot soon
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +7 min

The Consumer Price Index (CPI) rose 0.4% last month after gaining 0.1% in March, the Labor Department said on Wednesday. In the 12 months through April, the CPI increased 4.9% after advancing 5.0% on a year-on-year basis in March. Ahead of this reading Fed President John Williams warned that they were not done raising rates. "There will be another CPI report before the Fed meets, and expectations are you will start to see the effect of rents easing." The other thing is shelter, a huge component of CPI and it came in a little bit weaker."

☆ Convicted Pharma Fraudster Shkreli’s Companies File For Bankruptcy
▼ + stars: | 2023-05-10 | by ( Alexander Gladstone | ) www.wsj.com time to read: 1 min

Vyera Pharmaceuticals, the company that Martin Shkreli founded and used to conduct a securities fraud that landed him in prison, filed for bankruptcy Wednesday. Vyera, its Swiss parent company Phoenixus and several affiliates filed for protection in the U.S. Bankruptcy Court in Wilmington, Del. after the reputational harm from Mr. Shkreli’s fraud hampered them from opening bank accounts, commercializing products or raising capital, court papers say. A lawyer who has represented Mr. Shkreli didn’t immediately respond to a request...

☆ Bittrex approved to borrow $7 mln bankruptcy loan in bitcoin
▼ + stars: | 2023-05-10 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

Seattle-based Bittrex filed for bankruptcy Monday, saying it intended to return customer funds and wind down its U.S. operations. Before filing for bankruptcy, Bittrex stopped accepting new deposits from U.S. customers and told its existing users to withdraw their crypto from the platform. Shannon approved the loan on an interim basis, allowing Bittrex to borrow 250 bitcoin from its parent company Aquila Holdings, which is not filing for bankruptcy. Bittrex will seek permission to borrow an additional 450 bitcoin at a hearing in June, and the total value of its proposed loan is $19.7 million, based on bitcoin prices when it filed for bankruptcy. The case is Bittrex Inc, U.S. Bankruptcy Court for the District of Delaware, No.

☆ Watch CNBC's full interview with Wilmington's Meghan Shue and Decatur's Degas Wright
▼ + stars: | 2023-05-09 | 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 Wilmington's Meghan Shue and Decatur's Degas WrightMeghan Shue, Wilmington Trust head of investment strategy, and Degas Wright, Decatur Capital Management CEO, join 'Closing Bell Overtime' to discuss the White House debt ceiling meeting, the banking crisis, and their reactions to a new round of quarterly earnings results.

HOW THE LAWSUITS DIFFERDisney's lawsuit was filed in federal court and alleges that DeSantis violated the company's protections under the U.S. Constitution, including its First Amendment right to free speech. In contrast, the state court lawsuit against Disney focuses on the procedures the old board followed in approving the agreements with Disney. The Florida district is asking the state court to void the Disney agreements. The district could file a motion in federal court to ask Walker to dismiss or pause Disney's federal case while the state court proceeds. Legal doctrines hold that federal judges should refrain from hearing a case where there is a related state court proceeding, particularly when a state court decision could resolve the federal lawsuit.

☆ We're waiting to see full effect of Fed rate hikes, says Wilmington Trust's Meghan Shue
▼ + stars: | 2023-05-09 | 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 EmailWe're waiting to see full effect of Fed rate hikes, says Wilmington Trust's Meghan ShueMeghan Shue, Wilmington Trust head of investment strategy, and Degas Wright, Decatur Capital Management CEO, join 'Closing Bell Overtime' to discuss the White House debt ceiling meeting, the looming deadline, and what it means for the U.S. economy.

☆ Crypto exchange Bittrex files for bankruptcy after SEC complaint
▼ + stars: | 2023-05-08 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

May 8 (Reuters) - Cryptocurrency exchange Bittrex Inc filed for bankruptcy protection on Monday, three weeks after the U.S. Securities and Exchange Commission (SEC) accused it of operating an unregistered securities exchange. Seattle-based Bittrex ceased operations in the United States on April 30, and it said the bankruptcy filing would not impact Bittrex Global, which serves customers outside the United States. Bittrex said that it was still holding crypto assets of U.S. customers who did not withdraw funds before April 30. Bittrex has denied the SEC's allegations, saying the crypto assets on its platform were not securities or investment contracts. Bittrex's other largest creditors were mostly customers of the crypto exchange.

Companies Genesis Global Capital, Llc FollowMay 4 (Reuters) - Bankrupt crypto exchange FTX received U.S. bankruptcy court permission on Thursday to sell its LedgerX business for $50 million, raising additional funds to repay creditors. Miami International Holdings owns the Bermuda Stock Exchange and several U.S.-registered securities exchanges, including the Miami International Securities Exchange. FTX said in a court filing that Genesis owes it that money as a result of transactions that took place shortly before FTX's bankruptcy filing. Genesis, unlike other creditors, was largely repaid before FTX went bankrupt, FTX said. FTX, a once-prominent crypto exchange, filed for Chapter 11 amid allegations that founder Sam Bankman-Fried used FTX customers' money to prop up Alameda's balance sheet.

☆ DeSantis' tough words may come back to haunt him in Disney lawsuit, experts say
▼ + stars: | 2023-04-28 | by ( Tom Hals | Thomson Reuters | Tom Hals Is An Award-Winning Reporter With Years Of Experience Working In Asia | ) www.reuters.com time to read: +5 min

[1/2] Florida Governor and likely 2024 Republican presidential candidate Ron DeSantis speaks as part of his Florida Blueprint tour in Pinellas Park, Florida, U.S. March 8, 2023. Disney on Wednesday sued DeSantis to prevent the state from ending the company's virtual autonomy in central Florida where it has its theme parks. Disney said DeSantis' actions amounted to a "targeted campaign of government retaliation." Disney claimed in its lawsuit that the state adopted a "targeted campaign of government retaliation — orchestrated at every step by Governor DeSantis as punishment for Disney’s protected speech." DeSantis' tough talk toward Disney is cited throughout the lawsuit, including 18 quotes referring to some form of "woke Disney."

CNN —President Joe Biden and first lady Jill Biden capped South Korean President Yoon Suk Yeol’s official state visit with a glamorous state dinner at the White House Wednesday night to celebrate the two nations’ 70-year alliance. May we do it together for another 170 years.”But Biden wasn’t the only leader who took the mic. Following a round of musical performances, his South Korean counterpart joined him on stage to give his own – a karaoke rendition of Don McClean’s “American Pie” – which received a standing ovation from the crowd. The elaborate dinner is the result of weeks of careful diplomatic preparations, with each detail meticulously planned by a team of White House chefs, social staff, and protocol experts. U.S. President Joe Biden and first lady Jill Biden pose with South Korea's President Yoon Suk Yeol and first lady Kim Keon Hee in front of the Grand Staircase of the White House before an official State Dinner, in Washington, U.S. April 26, 2023.

☆ Opinion | Exorcising the Ghost of Robert E. Lee
▼ + stars: | 2023-04-27 | by ( Brent Staples | ) www.nytimes.com time to read: +1 min

He took office in 1913 with a team of white supremacists who announced themselves by requiring separate white and colored bathrooms in federal buildings. The Wilsonians inflicted a neo-Confederate regime on the capital that was felt in far corners of the nation. On Nov. 10, 1898, throngs of white men burned and murdered at will, driving Black officials and their allies from Wilmington. The Lost Causers venerated racial terrorism as a means of suppressing Black political influence. They recast the pro-slavery war as a just struggle for “states’ rights” while elevating the dead Confederate general Robert E. Lee to the stature of a patron saint.

Disney sued DeSantis on Wednesday to block a state law that created an oversight board that Disney said will interfere with billions of dollars of planned development. Disney alleges a law that imposed an oversight board was punishment for voicing opposition to DeSantis' classroom instruction law known as the Parental Rights in Education Act. The gender-education statute, derided by critics as the "Don't Say Gay" law, survived challenges in federal court before a different judge. Free speech has been central to several rulings by Walker against DeSantis, although the judge has also at times sided with the governor. Walker said Florida had become a place where the First Amendment allowed, rather than prevented, the state to limit speech.

A series of upcoming challenges, from the ongoing war in Ukraine to a still-uncertain economy, could provide hurdles to Biden’s reelection. The Washington beltway event may be indicative of what’s to come for the Biden reelection campaign strategy. “Just like four years ago—I’m off to teach and Joe’s launched his (re-election) campaign! Obama held his first reelection campaign rally in May 2012, 13 months after announcing his bid for a second term. The wait for a Biden reelection rally could be just as long.

☆ Lawyers plan to depose Tucker Carlson about 'sexist' workplace later this year amid reports he was ousted from Fox News over misogynistic messages
▼ + stars: | 2023-04-25 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +7 min

Grossberg's lawsuit, filed in Manhattan federal court against Fox News in March, also names both Carlson and one of his top producers, Justin Wells, as defendants. Their removal from Fox News, however, doesn't mean they can escape scrutiny in the lawsuit, Grossberg's lawyer Tanvir Rahman told Insider. Grossberg's lawsuit was one factor in the decision to fire him, according to the Los Angeles Times. Grossberg's lawsuit alleges she experienced a hostile environment while working as a producer for shows hosted by Carlson and Maria Bartiromo. Fox executives derided Bartiromo with sexist terms, calling her "menopausal," "hysterical," a "diva," and a "crazy bitch," Grossberg's lawsuit claims.

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