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☆ SBF’s ex-girlfriend Caroline Ellison takes the stand as government’s star witness
▼ + stars: | 2023-10-10 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Ellison, who ran FTX's sister hedge fund Alameda Research, pleaded guilty in December to two counts of wire fraud, two counts of conspiracy to commit wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud and conspiracy to commit money laundering. Ellison also spent years as Bankman-Fried's on-again, off-again girlfriend and, at times, his roommate. Caroline Ellison, former chief executive officer of Alameda Research LLC, center, arrives at court in New York, US, on Tuesday, Oct. 10, 2023. Noticeably absent thus far in proceedings is the mention of Ellison's co-CEO Sam Trabucco, who was a classmate of Bankman-Fried at MIT. Lawyers for the U.S. Attorney's office entered into evidence photos featuring Sam Bankman-Fried and his fellow co-workers at their shared $35 million Bahamian penthouse.

Persons: Caroline Ellison, Sam Bankman, Ellison, Gary Wang —, Fried, Yuki Iwamura, Attorney Thane Rehn, Rehn, Mark Cohen, Ellison's, Sam Trabucco, Trabucco Organizations: Alameda Research, Stanford, Jane Capital, Alameda, Bloomberg, Getty, Attorney, MIT, U.S Locations: Manhattan, Alameda, San Francisco Bay, New York, FTX

☆ Caroline Ellison took almost 30 seconds to recognize ex-boyfriend Sam Bankman-Fried as testimony begins
▼ + stars: | 2023-10-10 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +5 min

From a courthouse in downtown Manhattan, Ellison then listed her crimes: "fraud, conspiracy to commit fraud and money laundering." Ellison, who ran Alameda Research, pleaded guilty in December to two counts of wire fraud, two counts of conspiracy to commit wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud and conspiracy to commit money laundering. Ellison said she was under the impression that it was FTX customer money because the sums exceeded the exchange's profits and the amount of capital it hard raised. That followed an in-person conversation between Ellison, Bankman-Fried and Sam Trabucco, Alameda's co-CEO. WATCH: Caroline Ellison testifies Sam Bankman-Fried directed her to commit crimes

Persons: Caroline Ellison, Sam Bankman, Ellison, Danielle Sassoon, Fried, Sassoon, Bankman, Sam, FTX, Binance, Sam Trabucco, Alameda's Organizations: Alameda Research, Jane, Stanford, Jane Capital, Alameda Locations: Manhattan, Alameda, New York, San Francisco Bay, Brooklyn, FTX

The Tamar field, located 15 miles off Israel’s southern coast, meets 70% of Israel’s energy needs for power generation, according to the US energy company. A prolonged shutdown could lead to a drop in Israeli gas exports to its neighbors, Egypt and Jordan, as well as squeeze an already tight global gas market. For now, Chevron (CVX) continues to supply its customers in Israel and the region with gas from the larger Leviathan platform. Goldman Sachs analysts think the Tamar shutdown has “contributed” to the rally in European gas prices. However, all in all, the consequences for the global gas market would be “very limited,” he added, because Israel isn’t a major supplier.

Persons: Sally Jones, ” Jones, Chevron, “, Tamar, —, Wood Mackenzie, Goldman Sachs, Simone Tagliapietra, Marc Israel Sellem, Chevron’s Wheatstone, Tagliapietra, Israel, ”, Israel isn’t, Jordan, Israel’s, Martijn Murphy, Luo, ” Murphy Organizations: New York CNN, Chevron, Israel’s Ministry of Energy, Hamas, CNN, Rystad Energy, International Energy Agency Locations: London, New York, Israel, Egypt, Jordan, Europe, Ukraine, Baltic, Australia, Finland, Estonia, Tamar

☆ Hedge funds sell energy stocks before Middle East conflict - Goldman
▼ + stars: | 2023-10-09 | by ( Nell Mackenzie | ) www.reuters.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. The surge in oil prices followed the largest military assault on Israel in decades, with hundreds dead and several abducted. Hedge funds had, as of Friday, ramped up selling to the fastest pace since early June in shares of U.S. companies that manufacture chemicals, building materials and paper products, said the note from Goldman Sachs' prime brokerage. U.S. energy stocks saw net sales in the week ending October 6 for the second straight week in a row and in the eight previous trading sessions, the bank said. The oil price was up by more than 3% on the day on Monday at $87.27 a barrel.

Persons: Brendan McDermid, Goldman Sachs, Brent, WTI, Nell Mackenzie, Amanda Cooper Organizations: New York Stock Exchange, REUTERS, Global, Saturday, Israel, White, Thomson Locations: New York City, U.S, Israel, Saudi Arabia, Washington, Riyadh, Saudi

☆ Abandoned cars underline panic at Israeli music festival where Hamas gunmen killed hundreds
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +2 min

JERUSALEM, Oct 9 (Reuters) - Hundreds of cars abandoned in the scramble to flee a massacre at an Israeli music festival where Hamas gunmen killed 260 people and took captives back into Gaza underline the scale of the deadliest attack on Israel in decades. Video footage circulating on social media shows the gunmen descending in paragliders on the gathering in the Negev Desert. Israeli emergency services said 260 bodies had been recovered from the site of the festival. Other social media footage shows some of those taken captive from the party being led away by jubilant gunmen. "I live on the Gaza border and I've seen things in my life, but I've never felt it this close," Maariv said.

Persons: Arik Nani, Maariv, I've, James Mackenzie, Mark Heinrich Our Organizations: Hamas, Reuters, Nature Party, Thomson Locations: Gaza, Israel, Kibbutz Re'im, paragliders

The exact number of Israeli women and children hostages Hamas is offering in the potential exchange of 36 Palestinian women and children prisoners the Islamist group identified is not clear, the source said. Details about negotiations focusing on the release of 36 Palestinians from Israeli jails have not previously been reported. The number of Israeli hostages held in Gaza also remains unclear, but it is widely believed that Hamas seized women, children, elderly people and soldiers on Saturday. In Hamas-controlled Gaza, Israel has carried out its most intensive retaliatory strikes ever, killing some 500 people since Saturday. While Hamas' power base is in Gaza, some leaders are based in Qatar as well as other Middle Eastern countries.

Persons: Noa Argamani, Yoav Gallant, Benjamin Netanyahu's, Andrew Mills, Nidal, James Mackenzie, Ahmed Mohamed Hassan, Michael Georgy, Angus MacSwan Organizations: Reuters, Rights, Palestinian, Hamas, Saturday ., Gaza, U.S . State Department, Thomson Locations: Rights DOHA, GAZA, Gaza, Qatar, United States, Doha, Israel, Egypt, Iran, Jerusalem, Cairo

☆ Israel retaliates after Hamas attacks, deaths pass 1,100
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +10 min

Israeli military spokesperson Lieutenant Colonel Jonathan Conricus said the country had called in around 100,000 soldiers. Iran is an ally of Hamas and while it congratulated Hamas on the attack, its mission to the United Nations said Tehran was not involved in the attacks. Several international air carriers have suspended flight services with Tel Aviv in light of the Hamas attack, saying they are waiting for conditions to improve before resuming. In Gaza, Hamas spokesperson Hazem Qassem condemned the U.S. announcement as "an actual participation in the aggression against our people" and said the group would not be intimidated. The United States led Western denunciations of Hamas' attack, with Biden issuing a blunt warning to Iran and others on : "This is not a moment for any party hostile to Israel to exploit these attacks."

Persons: Israel, Benjamin Netanyahu's, Yoav Gallant, Jonathan Conricus, Brent, Ebrahim Raisi, they're, They're, Yoni Asher, Uri David, Mohammed Salem, Attar, Daniel Hagari, Netanyahu, Aaron David Miller, Joe Biden, Lloyd Austin, Gerald R, Hazem Qassem, Lebanon's, Peacemaking, Ismail Haniyeh, Gazans, Maayan Lubell, Ari Rabinovitch, Nidal, Ammar Anwar, Henriette Chacar, Emily Rose, Dan Williams, Ali Sawafta, Steven Scheer, James Mackenzie, Angus McDowall, Andrew Cawthorne, Matt Spetalnick, Stephen Coates, Michael Perry Organizations: Fighters, United Nations, Nasdaq, Sunday, REUTERS, White, National Security, Islamic, Carnegie Endowment, International, . Defense, Ford Carrier Strike Group, Palestinian, West Bank, Palestinian Authority, Jerusalem, United, Biden, Thomson Locations: Gaza, JERUSALEM, GAZA, Israel, Egypt, Yom, Ofakim, Iran, Tehran, Tel Aviv, Lebanon's Iran, Palestine, Gaza City, Palestinian, U.S, Saudi Arabia, United States, Jerusalem, Sderot, Ramallah, Modiin, Washington

☆ Israel's security forces face questions after Hamas attack lays bare intelligence gaps
▼ + stars: | 2023-10-08 | by ( Emily Rose | ) www.reuters.com time to read: +4 min

"It looks quite similar to what happened at that time," said retired General Giora Eiland, a former head of Israel's National Security Council. "As we can see it, Israel was completely surprised, by a very well coordinated attack," he told a briefing with reporters. "This was an intelligence failure; it could not be otherwise," said Jonathan Panikoff, the U.S. government's former deputy national intelligence officer on the Middle East, who is now at the Atlantic Council think tank. "They've been planning this for a long time," said former Israeli National Security Advisor Eyal Hulata. "Obviously this is a very coordinated attack, and unfortunately they were able to surprise us tactically and cause devastating damage."

Persons: Israel, Giora Eiland, Gazans, Benjamin Netanyahu's, Amir Cohen, Jonathan Panikoff, government's, They've, Eyal Hulata, Matt Spetalnick, James Mackenzie, Chris Reese Organizations: Israel's National Security Council, West Bank, West, REUTERS, Atlantic Council, National, Thomson Locations: Gaza, Israel, West Bank, Ashkelon, U.S, Sderot, Washington

☆ Israel's security forces face questions after Hamas attack
▼ + stars: | 2023-10-08 | by ( Emily Rose | ) www.reuters.com time to read: +4 min

"It looks quite similar to what happened at that time," said retired General Giora Eiland, a former head of Israel's National Security Council. "As we can see it, Israel was completely surprised, by a very well coordinated attack," he told a briefing with reporters. "It was a security failure, undermining what was thought to be an aggressive and successful layered approach toward Gaza by Israel," he said. "They've been planning this for a long time," said former Israeli National Security Advisor Eyal Hulata. "Obviously this is a very coordinated attack, and unfortunately they were able to surprise us tactically and cause devastating damage."

Persons: Israel, Giora Eiland, Gazans, Benjamin Netanyahu's, Ronen, Jonathan Panikoff, government's, They've, Eyal Hulata, Matt Spetalnick, James Mackenzie, Chris Reese Organizations: Israel's National Security Council, West Bank, West, Atlantic Council, National, Thomson Locations: Gaza, Israel, West Bank, Sderot, U.S, Washington

In southern Israel, Hamas gunmen were still fighting Israeli security forces in several places 24 hours after their incursion in the early hours of Saturday, both sides said, as more rockets were fired from Gaza, sparking air raid sirens. More than 300 Gazans were killed when Israel responded with one of its most devastating days of retaliatory strikes. [1/23]Palestinian inspect a mosque destroyed in Israeli strikes in Khan Younis, in the southern Gaza Strip, October 8, 2023. Bodies of Israeli civilians surrounded by broken glass were strewn across the streets of Sderot in southern Israel near Gaza in the aftermath of Saturday's assault. Senior military officers were among those killed in fighting near Gaza, the Israeli military said.

Persons: Israel, Israel Israel, Benjamin Netanyahu, DAWN, Gunmen, Al Hadath, Khan Younis, Abu Mustafa, Peacemaking, YOU, Ismail Haniyeh, Gazans, Jerusalem's Al, Joe Biden, Osama Hamdan, Maayan Lubell, Nidal, Ammar Anwar, Henriette Chacar, Emily Rose, Dan Williams, Ali Sawafta, James Mackenzie, Angus McDowall, Robert Birsel, Lisa Shumaker, William Mallard, Alex Richardson Organizations: Hamas, Gaza, Jets, Palestinian, West Bank, REUTERS, Jerusalem, Senior, Islamic, BIDEN, NETANYAHU, White, Reuters, Thomson Locations: Israel, Lebanon JERUSALEM, GAZA, SDEROT, Gaza, Lebanon, Israeli, Egypt, Syria, Yom, U.S, Saudi Arabia, Iran, Gaza's Beit Hanoun district, Aqsa, Sderot, United States, Iraq, Yemen, Jerusalem, Ramallah

Saturday's incident marked an unprecedented infiltration by Hamas gunmen into Israel from Gaza, and was the most serious escalation since Israel and Hamas fought a 10-day war in 2021. Israeli media reported gunbattles between bands of Palestinian fighters and security forces in towns in southern Israel. Hamas military commander Mohammad Deif announced the start of the operation in a broadcast on Hamas media, calling on Palestinians everywhere to fight. The Israeli military was aware of reports of captives, a security source said, but provided no further details. Israel's ambulance service said teams had been dispatched to areas in southern Israel near Gaza and residents were warned to stay inside.

Persons: Netanyahu, Benjamin Netanyahu, Mohammad Deif, Amir Cohen, Yoav Gallant, Khan Younis, Abu Hamza, ”, Henriette Chacar, Dan Williams, Nidal Al, James Mackenzie, William Mallard, Robert Birsel, Alex Richardson Organizations: Israel Hamas, Hamas, Israeli Army Radio, REUTERS, Islamic, Qassam, Thomson Locations: Israel, Gaza, JERUSALEM, GAZA, Palestinian, Jerusalem, Sderot, Beeri, Ashkelon, Khan, Syria, Egypt, Mughrabi

☆ Why Blue Apron and HelloFresh Can’t Keep Their Customers
▼ + stars: | 2023-10-06 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

How Carhartt Survived a Changing Workforce When Carhartt launched its line of workwear over a century ago, 69% of America’s workforce was devoted to occupations like farming, mining and manufacturing. Today, the brand is spotted on models, rappers and even former presidents, despite never swaying from its core strategy. Photo illustration: MacKenzie Coffman

Persons: Carhartt, MacKenzie Coffman

☆ Analysis: Trend hedge funds come out winners in bond market rout
▼ + stars: | 2023-10-06 | by ( Nell Mackenzie | ) www.reuters.com time to read: +5 min

Yet in one corner of the hedge fund world, there's a sigh of relief. So-called trend following and systematic hedge funds have long positioned for a fall in government bond prices given higher-for-longer inflation. AlphaSimplex is a $7.9 billion trend following hedge fund. While many trend funds, also known as "managed futures" funds, use price data, their trading models might also interpret macro economic factors playing out in markets. Some trend funds shrank their fixed income holdings in response to the March turmoil.

Persons: Carlo Allegri, Kathryn Kaminski, Morningstar, Razvan Remsing, Yao Hua Ooi, Laurent Le Saint, Metori, Aspect's, Nell Mackenzie, Dhara Ranasinghe, Susan Fenton Organizations: New York Stock, REUTERS, Generale, Reuters, Silicon Valley Bank, Treasury, Virtus, AQR Capital Management, Capital Management, Thomson Locations: Manhattan, New York City , New York, U.S, United States, Germany, Boston, Silicon, Europe, China, Paris, EU, Japan

☆ Sex, Signal messages and sabotage: SBF's top execs and Bahamas roommates tell all in court
▼ + stars: | 2023-10-06 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +13 min

"Sam Bankman-Fried," he said. Wang said that in response to the reporting an emergency meeting was called between Bankman-Fried, Wang and Singh, to discuss shutting down Alameda. On Nov. 12, after FTX declared bankruptcy, Bankman-Fried asked Wang to drive with him to the Bahamas Securities Commission for a meeting. Yedidia said Bankman-Fried had told him, before he began working in the Bahamas in 2019, that he and Ellison had sex. Bankman-Fried asked Yedidia if it was a good idea for them to date, to which Yedidia said no.

Persons: Adam Yedidia, Sam Bankman, Jane Rosenberg, —, Gary Wang, Nicolas Roos, Wang, FTX, Nishad Singh, Caroline Ellison, Mr, Roos, Ellison, Fried, Reuters Wang, District Judge Lewis Kaplan, Singh, Yedidia, Bankman, Sam, Christian Everdell, he's, I'm, Matt Huang, Yuki Iwamura, Huang, Dawn Giel Organizations: Federal Court, Reuters, MIT, U.S, Alameda Research, District, Prosecutors, Bahamas Securities Commission, Massachusetts Institute of Technology, Google, Alameda, United, Paradigm, FTX, Bloomberg, Getty Locations: FTX, New York City, Bahamas, Manhattan, U.S, Alameda, Bahamian, New York, China, Minnesota, FTX's Hong Kong, Nassau, Bankman

☆ Chevron workers at key LNG facilities in Australia vote to restart strikes
▼ + stars: | 2023-10-06 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +3 min

London CNN —Union members have voted to restart industrial action at Chevron’s liquefied natural gas facilities in Australia, threatening renewed strikes that could disrupt about 7% of global LNG supply. In the past days, the Offshore Alliance had been working with Chevron (CVX) to finalize the agreements, the alliance said in the statement. In Europe, the threat of strikes in Australia had caused a series of spikes in natural gas prices since August. “Persistently high and volatile gas prices will erode European competitiveness, [which is] a longer-term risk,” the credit rating agency wrote. “Gas prices will remain higher in Europe than elsewhere, making energy-intensive sectors like chemicals less competitive.”

Persons: Brad Gandy, “, Wheatstone, Daniel Toleman, Wood Mackenzie, “ It’s, ”, Alex Froley, Russia —, Moody’s Organizations: London CNN — Union, Offshore Alliance, Chevron, Commission, Enterprise, CNN, Fair, ” Workers Locations: Australia, Europe, Russia, Ukraine, Norway, LNG, United States, Qatar, Moscow

Griffin was at 14-under 130, two shots ahead of Harrison Endycott (65), Luke List (66), Carl Yuan (66) and Henrik Norlander (67). The Sanderson Farms Championship is part of the FedEx Cup Fall, when players are trying to finish among the top 125 in the FedEx Cup to keep full PGA Tour cards for 2024. The FedEx Cup Fall still has five tournaments left after this week, one of those a limited field in Japan. Still, his 63 was one better than rounds he shot at the Wyndham Championship, the Bermuda Open and The American Express. His card is set for 2024, but he wants to finish in the top 125 to get other perks, such as The Players Championship.

Persons: JACKSON, — Ben Griffin, Griffin, Harrison Endycott, Luke List, Carl Yuan, Henrik Norlander, “, ”, Hadley, Erik van Rooyen, Mackenzie Hughes, Hughes, Ludvig Aberg, Aberg, ___ Organizations: Sanderson, Country Club of Jackson, FedEx, Wyndham Championship, Bermuda, American Express, Ryder, PGA Tour University, Texas Tech Locations: Miss, Riviera, Japan, Bermuda, Bay, South Africa, Canada, Sweden, Rome

The issue has exposed deep divisions between his nationalist-religious supporters and more liberal and secular sections of Israeli society, posing major questions about the constitutional foundations of Israel and its future direction. Over 2,600 Israelis including Zwebner's brother were killed, the largest loss of life Israel has ever suffered in a single war. For many front-line soldiers, the war remains a traumatic event but the feeling many express five decades later is pride in having helped save their country. "I had a meeting with my friends this week which really made me emotional, but you feel very much like you saved the existence of Israel," Zwebner said. For Zwebner, who himself opposes the judicial overhaul, a lesson of the 1973 war was that people had to be prepared to think for themselves rather than blindly accepting what leaders of any kind said.

Persons: Uzy, Yonti, Amir Cohen, Uzy Zwebner, Golda Meir, Benjamin Netanyahu, Ehud Barak, Herzi Halevi, Israel, Jordan, Abraham, Zwebner, Mark Heinrich Our Organizations: REUTERS, Rights, Labour Party, ISRAEL, U.S, Abraham Accords, Thomson Locations: Sinai, Kippur, Tel Aviv, Israel, Yom Kippur, Golan, Soviet Union, Egypt

Deal negotiations between Exxon and Pioneer are advanced but have not yet led to an agreement, Reuters reported on Thursday. These transactions were eventually allowed to be completed, and the regulator has not sued to thwart an oil and gas production deal since 2000. The lawyers and experts interviewed said the FTC would face an uphill struggle in challenging Exxon's attempted acquisition of Pioneer. "The modern U.S. experience is that oil and gas deals of any notable size get a close look. It sued to block the merger and only agreed to drop its objections after BP offered to divest oil production acreage in Alaska.

Persons: Joe Biden, Janet Yellen, Leah Millis, producer's, Lina Khan, Andre Barlow, Doyle, Barlow, Mazard PLLC, Sheldon Whitehouse, William Kovacic, George Washington, consultancies Wood MacKenzie, David Kass, Diane Bartz, David French, Mike Stone, Greg Roumeliotis, Marguerita Choy Organizations: Treasury, White, REUTERS, Exxon Mobil, Natural Resources, Exxon, Pioneer, Reuters, Federal Trade Commission, Democratic, George, Companies, Activision, FTC, Atlantic, BP, RBC Capital Markets, Chevron, PDC Energy, University of Maryland, Thomson Locations: Washington , U.S, U.S, Atlantic Richfield, Alaska, West Texas, New Mexico, Rystad, Denver, Julesburg, Washington ,, Atlanta

☆ Losses widen, cash needed at chip startup Graphcore, an Nvidia rival, filing shows
▼ + stars: | 2023-10-05 | by ( Max A. Cherney | ) www.reuters.com time to read: +1 min

Graphcore produces AI chips called intelligence processor units (IPUs) that aim to take on Nvidia. It reported pre-tax losses widened 11% to $204.6 million, according to a filing of its 2022 financial statements filed Wednesday. According to a forecast the company made through 2027, Graphcore will need to raise more cash to break even, the filing said. The chipmaker closed operations in Norway, Japan, and South Korea and scaled back operations in other countries, according to the filing. Graphcore has raised $711.8 million at a $2.77 billion valuation, according to PitchBook data.

Persons: Dado Ruvic, Graphcore, We're, Iain Mackenzie, headcount, Max A Organizations: REUTERS, Nvidia, Revenue, Thomson Locations: Norway, Japan, South Korea, San Francisco

Sam Bankman-Fried Trial appears at Federal Court in New York on Oct. 4th, 2023. Two years later, Julliard stood as the prosecution's first witness in the criminal fraud trial against FTX founder Sam Bankman-Fried, who's accused of misusing billions of dollars in client money. He and thousands of other FTX customers were practically wiped out when the exchange went belly up late last year. Allan Joseph Bankman, father of FTX Co-Founder Sam Bankman-Fried, and Barbara Fried, mother of FTX Co-Founder Sam Bankman-Fried, arrive at court in New York, US, on Wednesday, Oct. 4, 2023. WATCH: Sam Bankman-Fried criminal trial begins in New York

Persons: Sam Bankman, Claudia Johnson Marc, Antoine Julliard, Julliard, who's, FTX, Gisele Bündchen, Fried, Jane Rosenberg, Sam, Mark Cohen, Cohen, Attorney Thane, Rehn, Alameda's, Caroline Ellison, Allan Joseph Bankman, Barbara Fried, Stephanie Keith, Ellison's, Sam Trabucco, Trabucco, Rein, Adam Yedidia, Bankman, Yedida, hadn't, Gary Wang Organizations: Court, FTX, Federal Court, Reuters Defense, Alameda Research, Bankman, Assistant U.S, Attorney, Capitol, U.S, Bloomberg, Getty, MIT, Massachusetts Institute of Technology, Prosecutors Locations: New York, London, Manhattan, FTX, New York City, U.S, Alameda, Attorney Thane Rehn, Rehn

He suggested the more immediate reason for the unrest was less long-time grievances related to the Palestinian national cause and more Gaza's economic misery. "The protests are about money," said the Israeli official, speaking on condition of anonymity due to the topic's sensitivity. FRAGILE CEASEFIREA recent International Monetary Fund report said that for any stable long-term economic recovery in Gaza, "lifting of the blockade and easing of the Israeli-imposed restrictions are essential". With an official unemployment rate in Gaza of over 46%, Hamas itself has faced rumbling discontent over its economic management although for its part, the movement blames the Israeli blockade for the enclave's economic woes. Last month, Israel imposed a brief blockade on exports from Gaza after inspectors said they uncovered an attempt to smuggle explosives into the West Bank.

Persons: Gaza's, Al, Bassem Naim, Bilal Al, Najar, Bashir Al, Nidal al, James Mackenzie, Mark Heinrich Our Organizations: Hamas, West Bank, Monetary Fund, Unipal Company, Thomson Locations: Israel, GAZA, Gaza, Al Aqsa, Egypt, Jerusalem, Lod, Gaza's

☆ A fresh haircut and ready for court: Day one of Sam Bankman-Fried's criminal trial
▼ + stars: | 2023-10-03 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

Journalists stood alongside dozens of New York residents clutching jury summonses as they queued in two different security lines. The day started slowly, as the jury selection process didn't get going until nearly 11 A.M. with a break for lunch before 12:30 P.M. Kaplan told Bankman-Fried to rise in court in order to indicate his desire to take the stand in his own defense. The first step in the six-week trial is assembling a 12-person jury, plus a few alternates. District Judge Kaplan instructed the court that he would be asking all of the questions, though the list had been drafted with feedback from lawyers on both sides.

Persons: Sam Bankman, Fried, he's, FTX, District Judge Lewis Kaplan, Lewis Kaplan —, Kaplan, —, Bankman, Caroline Ellison, Gary Wang, Ellison, Wang, Judge Kaplan, Joe Rogan, Dawn Giel Organizations: District, Federal Court, Southern, of, MIT, Alameda Research, U.S, Insight Partners Locations: New York, Brooklyn, FTX, New York City, U.S, York, Manhattan, Alameda, Maui

☆ Banks stocks back in vogue for hedge funds in September -Morgan Stanley
▼ + stars: | 2023-10-03 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

The corporate logo of financial firm Morgan Stanley is pictured on the company's world headquarters in New York, U.S. April 17, 2017. Both long and short exposure to all European stocks still sat at relatively low levels for U.S. and European hedge funds. U.S.-based managers' holdings of European equities remain at relatively lower levels than has historically been the case, while European hedge funds' positions in Europe are near their lowest levels since 2010, Morgan Stanley said. European hedge funds have higher exposure to companies listed in the U.S. and Asian countries other than Japan. Morgan Stanley, as one of the biggest providers of lending and trading services to hedge funds, is able to track their investment trends.

Persons: Morgan Stanley, Shannon Stapleton, Morgan Stanley's, Nell Mackenzie, Bernadette Baum Organizations: REUTERS, Global, North, U.S, Thomson Locations: New York, U.S, Europe, Japan

☆ The $8 billion Sam Bankman-Fried criminal trial starts today — here's what's at stake and how we got here
▼ + stars: | 2023-10-03 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +19 min

In the first trial, Bankman-Fried faces seven criminal counts related to the collapse of the crypto empire he built, including wire fraud, securities fraud and money laundering. Alameda, FTX and a host of subsidiaries Bankman-Fried founded filed for bankruptcy protection in Delaware. FTX's own terms of use specifically forbade him, or Alameda, from using customer money for anything — unless the customer allowed it. And from FTX's inception, there was a lot of customer money. Bankman-Fried and other executives admitted to each other that "FTX customer funds were irrevocably lost because Alameda had appropriated them."

Persons: Sam Bankman, Fried, Caroline Ellison, Gary Wang, Ellison, FTX, Wang, Judge Lewis Kaplan, Samuel Bankman, MacKenzie Sigalos, San Francisco —, SBF, Wang —, Nishad Singh —, Goldman Sachs, Binance, Damian Williams, Rehypothecation, —, Crypto, Solana, Zhao, he'd, Cromwell, John J, Ray, John Ray's, — CNBC's Rohan Goswami Organizations: Alameda Research, Southern, of, Stanford, MIT, U.S, New York Times, Bankman, That's, CNBC, Jane, Capital, University of California, Formula, Democratic, Twitter, Securities Exchange Commission, SEC, Futures Trading, United States Attorney's Office, CFTC, Alameda, Alameda didn't, Voyager, BlockFi, FTX, Industry, Investors, Zhao, Publicly, Sullivan, Enron Locations: Bahamas, Manhattan, New York, Alameda, of New York, FTX, Brooklyn , New York, San Francisco, South Korea, Alameda , California, Fried's Alameda, Berkeley, Miami, Washington, Delaware, California, Federal, Solana, Fried

On day one of Sam Bankman-Fried's criminal trial, assistant U.S. attorney, Danielle Sassoon, rattled off a lengthy list of potential witnesses who might be called to testify for either the government or the defense. The list, which was compiled jointly by both sides, was released during the afternoon session and included Bankman-Fried's brother, Gabe, as well his parents, Allan Joseph Bankman and his wife, Barbara Fried. Parents of the disgraced former CEO of FTX are themselves the subject of new scrutiny. Other entities that may take the witness stand included various venture funds and crypto-focused companies like Genesis, Lightspeed Venture Partners, Ontario Teachers Pension Fund, Third Point, Signature Bank, and Voyager Digital. Many of these businesses were hurt or wiped out by the collapse in cryptocurrency prices triggered in part by FTX's implosion.

Persons: Sam Bankman, Danielle Sassoon, Gabe, Allan Joseph Bankman, Barbara Fried, Ellison, FTX, Wang, Anthony Scaramucci, Fried Alfred Lin, Sequoia Capital Zac Prince, Michael Lewis Organizations: Alameda Research, U.S, SkyBridge, Sequoia Capital, Lightspeed Venture Partners, Ontario, Pension Fund, Signature Bank, Voyager Locations: Bankman, Manhattan

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