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☆ Wells Fargo, a juicy target, sparks lead counsel fight among shareholder firms
▼ + stars: | 2023-09-01 | by ( Alison Frankel | Thomson Reuters | Alison Frankel Has Covered High-Stakes Commercial Litigation As A Columnist For Reuters Since A Dartmouth College Graduate | ) www.reuters.com time to read: +7 min

Meanwhile, yet another plaintiffs' firm, Robbins, is deep into a similar derivative suit against Wells Fargo board members in San Francisco Superior Court. But it’s worth noting that in 2022, Wells Fargo won the dismissal of a previous shareholder derivative suit accusing the board of regulatory compliance failures. Kessler said its complaint, which includes "detailed" and "substantial" references to Wells Fargo internal documents, was more likely to withstand a dismissal motion from the bank. Scott + Scott told Tigar that it had the most up-to-date documents from Wells Fargo because it brought a Section 220 demand after the $3.7 billion CFPB agreement. I would not be surprised to see a rival derivative suit filed in Delaware Chancery Court by one of the shareholder firms spurned by Tigar.

Persons: Cromwell, Wells Fargo, Wells, Robbins Geller Rudman, Dowd, Kessler Topaz Meltzer, Scott, Scott –, They're, Jon Tigar, Robbins, Wells Fargo’s, Kessler Topaz, Kessler, Robbins Geller, Tigar, Robbins Geller didn’t, Randall Baron, board's, Andrew Cheng, Read Organizations: Sullivan, U.S . Consumer Financial Protection Bureau, U.S . Office, Currency, OCC, Wells, U.S, District, San Francisco Superior Court, Tigar, Wells Fargo, San Francisco, Thomson, Reuters Locations: Oakland, Wells Fargo, San Francisco, Wells, San, California, Delaware Chancery

☆ Jack Daniel's maker Brown-Forman misses profit estimate as costs pinch
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +2 min

A Whiskey tasting station is seen at the Jack Daniel's distillery in Lynchburg, Tennessee May 10, 2011. Excluding items, Brown-Forman earned 48 cents per share, compared with a profit estimate of 53 cents per share, as per Refinitiv data. A 90-basis-point expansion in gross margin in the quarter was driven by a 250-basis-point benefit from higher pricing as well as a let up in supply-chain costs, Brown-Forman said on a post-earnings call. Its quarterly net sales rose 3%, to $1.04 billion, compared with analysts' average estimate of $1.05 billion. Still, Brown-Forman reaffirmed its annual target of organic net sales growth between 5% and 7% and said it expects demand trends to normalize after two years of strong growth.

Persons: Jack Daniel's, Martinne Geller, Brown, Forman, BFb.N, Jack, Juveria Tabassum, Pooja Desai Organizations: REUTERS, Reserve, U.S, Thomson Locations: Lynchburg , Tennessee, United States, U.S

☆ Here are 3 reasons you can’t stop comparing yourself financially to others, says bestselling author
▼ + stars: | 2023-08-14 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

Easy access to credit Readily available lines of credit may encourage consumers to live up to standards that are not economically feasible, said Thakor. Credit card balances are up almost 20% from a year ago, according to a quarterly credit industry insights report from TransUnion. Social media "Social media puts everything on steroids," said Thakor. People who consume social media are often exposed to content that shows images of people they may know, or from influencers, that make them feel, quite often, inadequate. Remember that social media can be misleading "The bottom line is we are inundated with misinformation around how people become wealthy and how wealthy people spend their money," he said.

Persons: Jennifer Aniston, Rachel Green, Matt LeBlanc, Joey Tribbiani, David Schwimmer, Ross Geller, Lisa Kudrow, Phoebe Buffay, Hannigan, Matthew Perry, Chandler Bing, Courteney Cox, Monica Geller, Bing, Thakor, They've, Credit Karma, Bradley T, Klontz, Juan Algar Organizations: NBCU, Credit, YMW Advisors, CNBC Locations: New York, TransUnion, influencers, Boulder , Colorado

☆ Oil hedge funds place their bets on heat-fueled hurricane season
▼ + stars: | 2023-08-08 | by ( Nell Mackenzie | ) www.reuters.com time to read: +5 min

Gasoline prices usually rise ahead of the U.S. summer driving season. Money managers in the week to Aug. 1 boosted their net long holdings of NYMEX RBOB gasoline futures to the highest since late February 2022. HEDGE FUND-FUELED TURNAROUNDGasoline futures have risen around 14% this year, compared with a roughly 2% rise for U.S. crude futures . To guarantee a profit, they need the rise in gasoline prices to be sustained until hurricane activity is confirmed. But for gasoline to continue its rise against the price of crude oil, there needs to be a hurricane in the Gulf of Mexico, they said.

Persons: Liz Hampton, Tom Kloza, Vincent Elbhar, Eliot Geller, Brent Belote, Cayler, Belote, Arion, Nell Mackenzie, Laura Sanicola, Barbara Lewis Organizations: REUTERS, Liz Hampton LONDON, Gulf Coasts, Silicon Valley, Societe Generale, Reuters, Money, Futures Trading Commission, Reuters Graphics, El, Oil Price Information Service, CTA, Investment, Commodity, Fund, Aspect, CoreCommodity Management, CoreCommodity, Barclays, JP, Cayler, Thomson Locations: Loco Hills, New Mexico, U.S, Russia, Ukraine, Gulf of Mexico, United States, Gulf, Silicon, Gulf Coast, Mexico, Europe, Hurricanes, Washington

Former U.S. President and Republican presidential candidate Donald Trump speaks during a campaign rally in Erie, Pennsylvania, U.S., July 29, 2023. Less than two hours after news of the charges broke, Trump's campaign blasted out an email to supporters seeking donations, titled: BREAKING: PRESIDENT TRUMP INDICTED. In the week following the indictment, the campaign sent out 34 fundraising emails directly referencing the criminal charges, according to a Reuters review of campaign communications. Following the indictment, Trump's support rose to 49% in an April 21-24 survey while DeSantis slipped to 23%. He raised much less money in the days after his second indictment, according to campaign finance disclosures.

Persons: Donald Trump, Lindsay DeDario, Ron DeSantis, Trump, speechwriters Ross Worthington, Vince Haley, Haley didn't, grapples, Attorney Alvin Bragg, TRUMP, Chris Jackson, DeSantis, Bragg, DANIELS, reimbursements, Michael Cohen, Stormy Daniels, reimbursing Cohen, Daniels, Trump's, Adam Geller, Republican pollster, Geller, Nathan Layne, Karen Freifeld, Tim Reid, Jason Lange, Ross Colvin, Pravin Organizations: U.S, Republican, REUTERS, White, Conservative Political, Trump, Reuters, Worthington, Manhattan, Attorney, Republicans, Prosecutors, Manhattan District, Thomson Locations: Erie , Pennsylvania, U.S, Maryland, York, Georgia, East Palestine , Ohio, Florida, Manhattan, Miami, Bedminster , New Jersey

LONDON/MADRID, July 26 (Reuters) - Spain's Santander (SAN.MC) is planning to hire around 150 bankers primarily in the United States as part of its plans to accelerate growth in its investment banking business, three sources with knowledge of the matter said. Santander's global corporate and investment banking chief, Jose M. Linares, discussed the plans in a town hall held in New York last week, the sources said. So far, the bank has hired more than 20 senior investment bankers chiefly in the United States, Reuters has reported. Net profit at the bank's global corporate and investment bank rose 16% year-on-year in the second quarter to 899 million euros. Santander employs currently around 8,000 staff at its global corporate and investment bank.

Persons: Jose M, Linares, Ana Botin, David Hermer, Marco Antonio Achon, Corporate Finance Darren Jones, Steven Geller, Jones, Hector Grisi, Grisi, Jesús Aguado, Andres Gonzalez, Elisa Martinuzzi, David Evans Organizations: Spain's Santander, Credit Suisse, Reuters, Banking, Corporate Finance, Linares, Global, Santander, U.S ., Thomson Locations: MADRID, United States, New York, U.S, Spanish, Mexico, Europe, Latin America, Santander, America

☆ Small Town ‘Tradio’ and More: The Week in Reporter Reads
▼ + stars: | 2023-07-14 | by ( ) www.nytimes.com time to read: +1 min

In 1973, a young man named Uri Geller appeared on one of the BBC’s most popular television shows, “The Dimbleby Talk-In,” and announced that the laws of Newtonian physics did not apply to him. A handsome 26-year-old Israeli, dressed casually and flanked by a pair of academics, Mr. Geller performed a series of bewildering feats using nothing more, he said, than his mind. Then he appeared to bend a fork simply by staring at it. Because at the core of his performance was a claim of boggling audacity: that these were not tricks. ◆ ◆ ◆Written and narrated by Andy Kifer

Persons: Uri Geller, “, ”, Geller, ◆, Andy Kifer

☆ The End of the Magic World’s 50-Year Grudge
▼ + stars: | 2023-07-08 | by ( David Segal | More About David Segal | ) www.nytimes.com time to read: +2 min

The science fiction author Arthur C. Clarke wrote that “any sufficiently advanced technology is indistinguishable from magic,” and today magic and technology are merging. He still prefers nondigital methods, though, which he attributes in no small part to the influence of Mr. Geller. Mr. Money-Coutts first met Mr. Geller in 2003. A student at the British prep school Eton who was a budding magician, he invited Mr. Geller to perform for 700 gobsmacked schoolboys. Mr. Geller had relocated to Britain by then, having spent 12 tumultuous years in the United States, most of them in New York City.

Persons: Arthur C, Clarke, ”, Alice Pailhès, Volodymyr Zelensky, Randi, Ben Harris, Drummond, Coutts, conjurer, Midjourney, Pope Francis, Geller, Mr Organizations: Magic, Netflix, Eton Locations: Ukraine, Britain, United States, New York City

☆ A revered and powerful female leader revealed by new method to determine sex of old bones
▼ + stars: | 2023-07-06 | by ( Katie Hunt | ) edition.cnn.com time to read: +7 min

A team of European archaeologists dubbed the remains the “Ivory Man,” and began researching what they called a “spectacular” find. Amelogenin, however, preserves well, meaning it could be widely used to figure out the sex of even incomplete skeletons. What’s more, she added, the method can be applied to both adult and childhood teeth and is particularly useful for the latter. The findings related to her grave suggest that the Ivory Lady was revered by her community. They believe the Ivory Lady achieved her status through her own merit.

Persons: ”, Leonardo García Sanjuán, García Sanjuán, Ivory Lady, bioarchaeologist Rebecca Gowland, Gowland, Lady ’, Ivory, Lady, ” García Sanjuán, Flint, Pamela Geller, bioarchaeologist, “, Geller Organizations: CNN, University of Seville, Research, University of Sevilla, University of Durham, Ivory, University of Miami Locations: Seville, Spain, Amelogenin, Portugal, Europe

☆ Virginia plane crash: First responders say aircraft left 'crater' with few recognizable pieces of wreckage
▼ + stars: | 2023-06-05 | by ( Elizabeth Wolfe Natasha Bertrand Haley Britzky Pete Muntean Brian Todd Lauren Koenig Lauren Mascarenhas Cnn | Elizabeth Wolfe | Natasha Bertrand | ) edition.cnn.com time to read: +7 min

CNN —Four first responders who arrived at the scene of Sunday’s fatal private plane crash near Raphine, Virginia, told CNN the plane left a “crater,” and they believe it impacted the ground at a very steep angle. First responders said the crash site is amid steep, mountainous terrain that is difficult to reach on foot. We were obviously freaked out a little bit,” Chuck Martin, who felt the boom in Fairfax County, Virginia, told CNN affiliate WJLA. No survivors found in the wreckageSearch and rescue teams assemble before going to the site of Sunday's plane crash near Montebello, Virginia. John Rumpel, whose wife Barbara is listed as the president of the company, told CNN they own Encore.

Persons: ”, “, Chuck Martin, ‘, Sandy Abuarja, Ahreum Kindess, WBAL, Randall K, Wolf, Corinne Geller, John Rumpel, Barbara, Barbara Rumpel, John Rumpel’s, Rumpel, ” Barbara Rumpel, Joe Biden, Andrews, Biden Organizations: CNN, National Transportation Safety, New, MacArthur, Federal Aviation Administration, Virginia State Police, US Capitol Police, Cessna, Continental US, American Aerospace Defense Command, WJLA, DOD, WBAL, DC, George Washington National, “ NORAD, FAA, AP, Encore Motors, Inc, New York Times, National Capital, The U.S, Capitol, Andrews Air Force Base, Service, White Locations: Raphine , Virginia, ”, Virginia, Elizabethton , Tennessee, Washington, DC, Fairfax County , Virginia, Maryland, Gambrills , Maryland, “, George Washington National Forest , Virginia, State, Staunton, Montebello , Virginia, Melbourne, Florida, East Hampton , New York, North Carolina, The, Maryland’s

☆ Brave Dames and Melancholy Detectives
▼ + stars: | 2023-04-21 | by ( Sarah Weinman | ) www.nytimes.com time to read: +1 min

But Isaacs had never deliberately written a mystery series character until 2019’s “Takes One to Know One,” which introduced the former F.B.I. agent and occasional translator Corie Schottland Geller. Corie returns in BAD BAD SEYMOUR BROWN (Atlantic Monthly Press, 400 pp., $28), fully adjusted to life in her suburban Long IslandMcMansion with her handsome judge husband and daughter. license, and because of the pandemic, her parents have fled Queens and moved in, too. And like other Isaacs characters, Corie Geller is wonderful company for the reader.

Credit Suisse's investment bankers are not waiting around to find out if UBS will give them jobs. UBS executives have pulled no punches when discussing the future of Credit Suisse's investment banking teams and trading desks. Jeff CohenA two-decade Credit Suisse veteran, Cohen heads up Credit Suisse's leveraged and acquisition finance business from New York. Previously, Cohen was Credit Suisse's head of global credit products and global head of leveraged finance capital markets. Marco SuperinaA Credit Suisse veteran since 1997, Superina heads Credit Suisse's M&A efforts in the firm's native Switzerland.

☆ Fact Check-No evidence Karine Jean-Pierre was involved in a drunk driving accident in March 2023, posts use unrelated photos
▼ + stars: | 2023-04-05 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

There is no evidence for claims that White House Press Secretary Karine Jean-Pierre was involved in an accident for drunk driving in March 2023, despite posts retweeted at least 18,000 times. “DC METRO POLICE REFUSING TO RELEASE BODYCAM FOOTAGE OF KARINE JEAN-PIERRE ACCIDENT,” reads part of the text. White House spokesperson Michael Kikukawa said the claim “is not true.”Outlets (here ) (here) have reported that Jean-Pierre lives in the Washington, D.C. metropolitan area. DC Metro Police said there is no record of White House Press Secretary Karine Jean-Pierre being involved in an accident for drunk driving. The White House called the allegation false, and photos used to illustrate the claims show unrelated events.

"While we disagree with the allegations in this case, we are pleased to have resolved this legacy issue," a Wells Fargo spokesperson said in a statement. Wells Fargo disclosed in July 2017 that hundreds of thousands of customers had been unnecessarily charged for "collateral protection insurance," which covers auto lenders when borrowers are uninsured. The bank also concealed auto insurance issues from the U.S. Senate Banking Committee in November 2016, the investors alleged. Wells Fargo settled an auto borrower class action in 2019 for $386 million without admitting wrongdoing. In 2018, Wells Fargo agreed to pay $1 billion to U.S. regulators to settle probes of its auto insurance and mortgage practices.

LONDON, Jan 3 (Reuters) - Credit Suisse (CSGN.S) announced a series of staff changes on Tuesday following the departure of the co-head of its European investment banking operation, according to internal memos seen by Reuters and confirmed by a company spokesperson. Monarchi is now sole IBCM head for Europe, the Middle East and Africa (EMEA), whereas Geller has been named sole global head of M&A. Additionally, William Mansfield, head of EMEA Consumer & Retail M&A, has taken up Deasy's responsibilities as head of EMEA M&A. Deasy's exit, which was first reported by Financial News, is the latest in a string of departures as Credit Suisse embarks on a plan to cut thousands of jobs and shift its focus from investment banking towards more stable wealth management. Alongside the promotions, the Swiss lender also said it had hired Credit Agricole (CAGR.PA) banker Gen Oba as co-head of IBCM in France, Belgium and Luxembourg.

☆ Rare cosmic collision acted like one of the ‘factories of gold’ in the universe
▼ + stars: | 2022-12-08 | by ( Ashley Strickland | ) edition.cnn.com time to read: +5 min

The gamma-ray burst, called GRB 211211A, lasted about a minute. Gamma-ray bursts are considered among the strongest and brightest explosions in the universe, and they can range from a few milliseconds to several hours in length. An artist's illustration of GRB 211211A shows the kilonova and gamma-ray burst (right) and ejected material from the explosion (left). After determining that a kilonova created the infrared light, astronomers grew even more puzzled by the gamma-ray burst’s duration. Gamma-ray bursts caused by these rare explosions have only ever been observed to last less than two seconds, but this signal lasted for at least one minute.

☆ 10 traits of a Hollywood high achiever, according to a success coach who's worked on shows like 'Glee' and 'This Is Us'
▼ + stars: | 2022-12-07 | by ( Erica Wernick | ) www.businessinsider.com time to read: +13 min

Successful people don't believe in scarcity, they believe in abundance. You don't want to bother them and you're scared they won't want to help, so you decide not to contact them. The successful person may still have those fears, but they contact the person anyway because it could help their dream. See where I'm going with this? Let's play this out: Let's say you're hanging out with Nancy and Nancy says to you, "That dream you're trying to go after is really hard.

☆ LGBTQ students wrestle with tensions at Christian colleges
▼ + stars: | 2022-12-05 | by ( Associated Press | ) www.nbcnews.com time to read: +12 min

“It’s kind of a tightrope,” said John Scarano, campus ministry director at John Carroll University, a Jesuit school near Cleveland with “safe zone trainings” as part of its ministry to LGBTQ students. Last year, 33 LGBTQ students or former students at federally funded Christian schools filed a class-action lawsuit against the U.S. Department of Education, claiming the department’s religious exemption allows schools that receive federal dollars to unconstitutionally discriminate against LGBTQ students. In May, the Department of Education’s Office for Civil Rights launched a separate investigation for alleged violations of the rights of LGBTQ students at six Christian universities — including Liberty University. A high-stakes clash between students, faculty and the school’s board of trustees over hiring LGBTQ faculty is unfolding at Seattle Pacific University, a 131-year-old school affiliated with the Free Methodist Church. “I find that tragic.”To students like Fisher in Minnesota, concrete actions will show if LGBTQ people can truly be welcomed on Christian campuses.

He said the school’s student affairs office interviewed Jones’ roommate, who had not seen the suspect with a gun. It wasn’t clear if the school’s internal investigation of Jones possibly having a gun ended with that roommate’s interview. On Tuesday, university officials admitted they learned Jones had been convicted of a misdemeanor for a concealed weapons violation in 2021. Hingeley revealed in court Jones’ previous scrapes with the law. He attempted to purchase a Smith & Wesson M&P15-22, a .22-caliber rifle, but “failed the background check,” the owner said.

☆ How Nike's Air Jordan 1 became — and remained — the most prized lifestyle sneaker
▼ + stars: | 2022-11-19 | by ( Matthew Kish | ) www.businessinsider.com time to read: +8 min

Nike on Saturday will release the Air Jordan 1 Chicago "Lost and Found"Some collectors consider it the "most iconic sneaker of all time." "The Air Jordan 1 is the most iconic sneaker of all time," said Jordan Geller, a sneaker collector and former owner of the ShoeZeum who in 2020 sold a pair worn by Jordan for a record $560,000. Michael Jordan wearing the Air Jordan 1 in 1985. AP Photo/Marcio Jose SanchezScarcity, storytelling, collaborations and the "Last Dance"After 1985, The Air Jordan 1 didn't re-release in original specs until 1994. "All of those releases are coveted by sneaker collectors and the 'Lost and Found' Air Jordan 1 will be as well," Geller said.

☆ Oregon Measure 114 on gun control gives hope for curbing gun deaths
▼ + stars: | 2022-11-13 | by ( Ari Davis | Lisa Geller | Ari Davis Is A Policy Adviser At The Johns Hopkins Center For Gun Violence Solutions At The Johns Hopkins Bloomberg School Of Public Health. | ) www.nbcnews.com time to read: +6 min

A lot has changed since 2014, especially as it pertains to gun violence: The gun epidemic has gotten significantly worse. Despite heroic efforts by advocates and some lawmakers, the number of gun deaths set new records last year as many states weakened their gun laws through permitless carry and stand-your-ground legislation. Firearm purchaser licensing, as contained in the ballot measure, is one of the most effective policies at reducing gun deaths. Before the Oregon measure, only nine states, plus Washington, D.C., have had such a law. The intransigence of lawmakers in the face of record gun deaths has cost countless American lives, but it has not yet cost those lawmakers their careers.

Walmart has agreed to pay $3.1 billion, mostly up front, according to two people familiar with the matter. The proposed settlement, which would be the first nationwide deal with retail pharmacy companies, follows nationwide opioid settlements with drugmakers and distributors totaling more than $33 billion. CVS, Walgreens and Walmart are the three largest retail pharmacies in the country by market share. The agency has attributed much of the recent rise in overdose cases to illegally manufactured fentanyl, a powerful synthetic opioid. A congressional report last month put the economic toll of the opioid crisis in 2020 alone at $1.5 trillion.

☆ Everything you need to know about Parler, the right-wing social media platform Kanye West is planning to buy
▼ + stars: | 2022-10-20 | by ( Allana Akhtar | Britney Nguyen | ) www.businessinsider.com time to read: +10 min

Kanye West, now known as Ye, is in talks to buy right-wing social media platform Parler. Ye, formerly known as Kanye West, is entering a deal to buy right-wing social-media platform Parler, which launched in 2018. Meanwhile, Trump's platform Truth Social had 8,956,693 visitors, and Gab had 12,806,464 visitors, per Similarweb's analysis. What's on the Parler app? In February, Trump launched the Truth Social social media platform 13 months after being kicked off Facebook and Twitter after the January 6 Capitol riot.

☆ That company's 'About Us' page may be full of fake pictures of 'people' who don't actually exist
▼ + stars: | 2022-10-16 | by ( Ryan Hogg | Evan Ratliff | ) www.businessinsider.com time to read: +3 min

Some companies are using AI technology to put fake "staff" on their "about us" pages. Ratliff spoke to Lukas, the man behind an Austrian test-prep company called takeIELTS, who confirmed he had used several fake images on its "about us" page. Ratliff said when he checked in on takeIELTS months later, Lukas had removed all the fake images and changed the company's name. The website of another company, Informa Systems, which sold law enforcement training materials to the City of Austin Police Department, was covered with fake images. Ratliff said there are now companies developing software aimed at detecting fake images on company websites and elsewhere on the internet.

☆ I’ve been following a woman around the internet. Turns out she was created by artificial intelligence.
▼ + stars: | 2022-10-16 | by ( Evan Ratliff | ) www.businessinsider.com time to read: +31 min

Even in their first efforts, the GAN images were quickly on par with those made by any other, less intelligent software. You can find the results on the Generated Photos site, where you can filter by ethnicity, age, sex, eye color, and other attributes. Generated Photos' GANs tend to match conventional beauty standards, a product of the models that have been fed to the software. I'm not sure anyone would be surprised to find fake images accompanying testimonials on an Estonian bitcoin exchange or an online CBD seller. Are they real people deploying fake images, or fake people deploying fake images?

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