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☆ Analysis: Amid Israel turmoil, markets want continuity at central bank helm
▼ + stars: | 2023-09-21 | by ( Steven Scheer | ) www.reuters.com time to read: +6 min

[1/2] The Bank of Israel building is seen in Jerusalem June 16, 2020. "Therefore, markets and credit rating agencies are reading more into the question of 'yes' or 'no' to a second term. "Who will be governor is a major concern for investors abroad," said Leader Capital Markets Chief Economist Jonathan Katz. A few years earlier in 2010, Stanley Fischer accepted a second term and helped Israel weather the global financial crisis. Reporting by Steven Scheer Additional reporting by Maayan Lubell Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Ronen, Amir Yaron's, Benjamin Netanyahu, Amir Yaron, Yaron, Netanyahu, Flug, Fitch, Jonathan Katz, Katz, Nadine Baudot, Jacob Frenkel, Frenkel, Netanyahu's, Stanley Fischer, Fischer, Efraim Benmelech, Benmelech, Andrew Abir, Steven Scheer, Maayan, Christina Fincher Organizations: Bank of, REUTERS, Bank, Israel, Netanyahu's, Wharton School, University of Pennsylvania, Reuters, Capital Markets, Bank of Israel, Israel Democracy Institute, U.S . Federal Reserve, Kellogg School of Management, Northwestern University, Thomson Locations: Bank of Israel, Jerusalem, JERUSALEM, Israeli, United States, Ukraine, Russia, Israel

☆ Where Robert F. Kennedy Jr. Delivers His Fringe Views: Not on the Trail
▼ + stars: | 2023-09-12 | by ( Sheera Frenkel | More About Sheera Frenkel | ) www.nytimes.com time to read: +1 min

In an online meeting with anti-vaccine activists on June 27, Robert F. Kennedy Jr., a Democrat running for president, falsely said there was good evidence that vaccine research had caused millions of deaths during the 1918 Spanish flu epidemic. He also claimed that such research could have created Covid-19, H.I.V. But in an appearance before Congress on July 20, Mr. Kennedy made none of those assertions. In large public forums like Congress, Mr. Kennedy, 69, has moderated his extreme views, while continuing to advocate them in other settings. He did not mention vaccines and limited his comments on Covid to criticism of pandemic lockdowns.

Persons: Robert F, Kennedy Jr, Kennedy, “ Organizations: Democrat, Democratic, New York Times Locations: Iowa , Vermont, Virginia, Ukraine

☆ Meta’s ‘Biggest Single Takedown’ Removes Chinese Influence Campaign
▼ + stars: | 2023-08-29 | by ( Sheera Frenkel | More About Sheera Frenkel | ) www.nytimes.com time to read: +1 min

On Feb. 27, an article claiming that the United States was behind the bombing of the Nord Stream underwater pipelines in the Baltic Sea was published on the Substack and Blogspot blogging platforms. The posts were part of a Chinese influence campaign that stands out as the largest such operation to date, researchers at Meta said in a report on Tuesday. The effort, which the company said had started with Chinese law enforcement and was discovered in 2019, was aimed at advancing China’s interests and discrediting its adversaries, such as the United States, Meta said. In total, 7,704 Facebook accounts, 954 Facebook pages, 15 Facebook groups and 15 Instagram accounts tied to the Chinese campaign were removed by Meta, which owns Facebook, Instagram and WhatsApp. Hundreds of other accounts on TikTok, X, LiveJournal and Blogspot also participated in the campaign, which researchers named Spamouflage, for the frequent posting of spamlike messages, according to Meta’s report.

Persons: —, Meta, Blogspot Organizations: Facebook, Meta Locations: United States, Baltic, Turkish, WhatsApp

Elon Musk has over the last year threatened legal action against tech competitors, employees and people who use Twitter, which he owns. Now he is also taking aim at an organization that studies hate speech and misinformation on social media. The letter cited research published by the Center for Countering Digital Hate in June examining hate speech on Twitter, which Mr. Musk has renamed X.com. The research consisted of eight papers, including one that found that Twitter had taken no action against 99 percent of the 100 Twitter Blue accounts the center reported for “tweeting hate.” The letter called the research “false, misleading or both” and said the organization had used improper methodology. The letter added that the center was funded by Twitter’s competitors or foreign governments “in support of an ulterior agenda.”

Persons: Elon Musk, Musk, “ Organizations: X Corp, Center, Twitter

Elon Musk’s Unmatched Power in the Stars The tech billionaire has become the dominant power in satellite internet technology. Today, more than 4,500 Starlink satellites are in the skies, accounting for more than 50 percent of all active satellites. 53% of active satellites are Starlink.” The Starlink satellites are highlighted and are all operating in low-Earth orbit. How Starlink customers connect to the internet Starlink satellites orbit at much lower altitudes than traditional satellite internet services. “Everywhere on earth will have high bandwidth, low latency internet,” Mr. Musk predicted on the Joe Rogan podcast in 2020.

Persons: Elon Musk’s, Mark, Valeriy Zaluzhnyi, Elon Musk, Zaluzhnyi, General Zaluzhnyi, Musk, Musk’s, ”, Starlink’s, ” Mykhailo Fedorov, Mr, Biden, ” Dmitri Alperovitch, Sir Martin Sweeting, Sweeting, Mike Blake, Patrick Seitzer, Rafael Schmall, Joe Rogan, Jeff Bezos, Starlink, Russia —, Fedorov, —, Clodagh Kilcoyne, Nancy Pelosi, Colin H, Kahl, Lynsey Addario, messaged Mr, Lloyd Austin, Gregory C, Allen, we’ve, Mykhailo Podolyak, Volodymyr Zelensky, Jason Hsu, Hsu, “ Elon, Michael McCaul of, Tsai Ing, Tsai, Audrey Tang, Mariana Suarez, Thierry Breton, SpaceX, Chérif El, Amazon Organizations: Joint Chiefs of Staff, Ukraine’s Armed Forces, SpaceX, Tesla, Twitter, Mr, U.S . Defense Department, NASA, Senior Pentagon, The Defense Department, Starlink, European Union, Silverado, Accelerator, Surrey Satellite Technology, Reuters, Airbus, Earth, Getty, Satellite, University of Michigan, National Science Foundation, Rivals, Amazon, Origin, Viasat, Pentagon, CNN, The New York Times, U.S, Defense Department, Center for Strategic, International Studies, Elon, Harvard Kennedy School, Republican, House Foreign Affairs, OneWeb, Agence France, European, United Nations Locations: Ukraine, United States, Iran, Turkey, Japan, Starlink, Crimea, Russian, Starlinks, Europe, Taiwan, China, Beijing, British, Colorado, Cape Canaveral, Fla, —, California, Florida, Latin America, Africa, Nigeria, Mozambique, Rwanda, Ukrainian, Russia, Kreminna, Aspen, Colo, Kherson's, Kherson, Dnipro, Shanghai, Taipei, Michael McCaul of Texas, del, Uruguay, European Union

The algorithms powering Facebook and Instagram, which drive what billions of people see on the social networks, have been in the cross hairs of lawmakers, activists and regulators for years. In the papers, researchers from the University of Texas, New York University, Princeton and other institutions found that removing some key functions of the social platforms’ algorithms had “no measurable effects” on people’s political beliefs. In one experiment on Facebook’s algorithm, people’s knowledge of political news declined when their ability to reshare posts was removed, the researchers said. At the same time, the consumption of political news on Facebook and Instagram was highly segregated by ideology, according to another study. Ninety-seven percent of the links to “untrustworthy” news stories on the apps during the 2020 election were read by users who identified as conservative and largely engaged with right-wing content, the research found.

Persons: Instagram Organizations: University of Texas, University of Texas , New York University , Princeton, Facebook Locations: University of Texas , New

To refine their popular technology, new artificial intelligence platforms like ChatGPT are gobbling up the work of authors, poets, comedians and actors — without their consent. Sheera Frenkel, a technology correspondent for The Times, explains the rebellion that’s now brewing.

Persons: —, Sheera Frenkel Organizations: The Times

That has set off a hunt by tech companies for even more data to feed their A.I. But it was not well understood or seen as especially problematic by the companies that owned the data. “What’s happening here is a fundamental realignment of the value of data,” said Brandon Duderstadt, the founder and chief executive of Nomic, an A.I. “Previously, the thought was that you got value from data by making it open to everyone and running ads. But as the era of easy-to-scrape content comes to a close, smaller A.I.

Persons: OpenAI’s, ChatGPT, ”, Brandon Duderstadt Organizations: Google, Microsoft Locations: upstarts

☆ G.O.P. Targets Researchers Who Study Disinformation Ahead of 2024 Election
▼ + stars: | 2023-06-19 | by ( Steven Lee Myers | Sheera Frenkel | ) www.nytimes.com time to read: +1 min

On Capitol Hill and in the courts, Republican lawmakers and activists are mounting a sweeping legal campaign against universities, think tanks and private companies that study the spread of disinformation, accusing them of colluding with the government to suppress conservative speech online. The effort has encumbered its targets with expansive requests for information and, in some cases, subpoenas — demanding notes, emails and other information related to social media companies and the government dating back to 2015. Complying has consumed time and resources and already affected the groups’ ability to do research and raise money, according to several people involved. They and others warned that the campaign undermined the fight against disinformation in American society when the problem is, by most accounts, on the rise — and when another presidential election is around the corner. Many of those behind the Republican effort had also joined former President Donald J. Trump in falsely challenging the outcome of the 2020 presidential election.

Persons: Donald J, Trump, “, ”, Jameel Jaffer Organizations: Capitol, Republican, Columbia University’s

☆ 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."

☆ What Is Bluesky and Why Are People Clamoring to Join It?
▼ + stars: | 2023-04-28 | by ( Sheera Frenkel | ) www.nytimes.com time to read: +1 min

But unlike Twitter, Bluesky plans to be a decentralized system, meaning people may eventually be able to build their own apps and communities within it. Ms. Graber said it was designed that way so that no individual could create rules for the entire Bluesky community. Bluesky also operates using an “open protocol.” This is unusual because social media platforms have traditionally been walled gardens, meaning that what is posted on individual platforms remains only on that platform. But because Bluesky is trying to be more open, it could someday allow posts to flow between different social media platforms with ease. Last month, a Bluesky user speculated that the app’s name came from Mr. Dorsey’s desire to transform Twitter into an open protocol, freeing Twitter’s bird mascot to a blue sky.

☆ 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."

Mr. Boerman said he had tried hard to leave obvious hints that he was an impersonator. He made up an organization with a ludicrous name: the New York City Porcine Benevolent Association. “Pretty much everybody got that it was a joke immediately, which was my hope — I wasn’t trying to mislead anyone,” Mr. Boerman said. “The problem comes when you have accounts that maybe have hundreds of thousands of followers and are positioning themselves as the real thing,” Mr. Boerman said. “Twitter’s approach of ‘Well, if people pay for verification, certainly they must be legit’ is so inane I don’t even know how to put words to it.”

NEW YORK, March 14 (Reuters) - SVB Financial Group (SIVB.O) said on Tuesday that Goldman Sachs Group Inc (GS.N) was the acquirer of a bond portfolio on which it booked a $1.8 billion loss, a transaction that set in motion the failure of SVB. The loss on the portfolio was the reason SVB, a technology-focused lender known as Silicon Valley Bank, attempted a $2.25 billion stock sale last week using Goldman Sachs as an adviser. The portfolio SVB sold to Goldman Sachs on March 8 consisted mostly of U.S. Treasuries and had a book value of $23.97 billion, SVB said. The transaction was carried out "at negotiated prices" and netted the bank $21.45 billion in proceeds, SVB added. Goldman Sachs' purchase of the bond portfolio was handled by a division that was separate from the unit that handled SVB's stock sale, according to a source familiar with the matter.

☆ Two former SEC and Treasury officials discuss the Justice Department's SVB investigation
▼ + stars: | 2023-03-15 | 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 EmailTwo former SEC and Treasury officials discuss the Justice Department's SVB investigationJacob Frenkel, Dickinson Wright Partner and Fmr. SEC Division of Enforcement Sr. Counsel Member, and Chris Campbell, Kroll Chief Strategist and Fmr. Assistant Secretary of the US Treasury for Financial Institutions, weigh in on the federal investigation into Silicon Valley Bank.

But Mr. Musk’s Twitter feed is often an echo chamber. 48 hours of Elon Musk’s tweets Circles representing Musk’s tweets are sized by the total retweets, likes, replies and quote tweets in response to what he posted. A chart of Mr. Musk’s original tweets, replies and quote tweets over a two-day period in November. A website tracking Mr. Musk’s private jet movement suggested that he traveled away from San Francisco around that time. Shareholders are now also seeking billions of dollars in damages in a lawsuit after Mr. Musk’s takeover proposal never materialized.

☆ Sam Bankman-Fried will likely be arraigned in U.S. court soon, says Dickinson Wright's Jacob Frenkel
▼ + stars: | 2022-12-20 | 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 EmailSam Bankman-Fried will likely be arraigned in U.S. court soon, says Dickinson Wright's Jacob FrenkelJacob Frenkel, chair of the government investigations and securities enforcement practice at Dickinson Wright, joins CNBC's 'Squawk Box' to discuss the case against FTX's Sam Bankman-Fried and plans for extradition to the U.S.

☆ Porsche begins production of 'e-fuel' that could provide gas alternative amid EV push
▼ + stars: | 2022-12-20 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Porsche and several partners have started production of a climate neutral "e-fuel" aimed at replacing gasoline in vehicles with traditional internal combustion engines. The German automaker, owned by Volkswagen , said Tuesday that a pilot plant in Chile started commercial production of the alternative fuel. By mid-decade, Porsche is planning to produce millions of gallons of the e-fuel. Plans are to expand that to about 55 million liters (14.5 million U.S. gallons) by mid-decade, and around 550 million liters (145.3 million U.S. gallons) roughly two years later. Porsche officials celebrated the beginning of the e-fuel production with the filling of a Porsche 911 with the first synthetic fuel produced at the site.

☆ FTX founder Sam Bankman-Fried should fight extradition, says Dickinson Wright's Jacob Frenkel
▼ + stars: | 2022-12-16 | 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 EmailFTX founder Sam Bankman-Fried should fight extradition, says Dickinson Wright's Jacob FrenkelJacob Frenkel, chair of the government investigations and securities enforcement practice at Dickinson Wright, joins CNBC's 'Squawk Box' to discuss the fallout of FTX and weighs in on the extradition of its jailed founder Sam Bankman-Fried.

☆ Unicorn indie-film studio A24 is in talks to buy the Cherry Lane Theatre, New York's oldest off-Broadway theater
▼ + stars: | 2022-11-02 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +3 min

The Cherry Lane Theatre was put back on the market in 2021 after a previous sale fell through. The purchase comes as Hollywood increasingly looks to the theater world for IP and talent. A24, the Oscar-winning studio behind indie hits like "Uncut Gems," "Midsommar," and "Moonlight," is in talks to buy the Cherry Lane Theatre, New York City's oldest continuously running off-Broadway theater, according to a person familiar with the matter. The Cherry Lane was put back on the market in November 2021 after a deal to buy the theater for $11 million fell through amid disagreements over the price. Representatives from the Cherry Lane Theatre and A24 declined to comment on any prospective sale.

☆ Central banks all over the world are clearly behind the curve on inflation, says Jacob Frenkel
▼ + stars: | 2022-10-14 | 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 EmailCentral banks all over the world are clearly behind the curve on inflation, says Jacob FrenkelFormer JPMorgan Chase International Chairman Jacob Frenkel joins 'Closing Bell' to discuss financial market sensitivity to news, the UK's monetary policy agenda conflicting with global financial stability plans, and more.

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