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☆ Elon Musk subpoena in Epstein-JPMorgan lawsuit can be served to Tesla, judge rules
▼ + stars: | 2023-05-17 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

Ghislaine Maxwell and Elon Musk attend the 2014 Vanity Fair Oscar Party Hosted By Graydon Carter on March 2, 2014 in West Hollywood, California. The Virgin Islands is suing JPMorgan in U.S. District Court in Manhattan for allegedly enabling and financially benefiting from Epstein's sex trafficking of young women. Rakoff, in his order Wednesday, authorized the USVI to "arrange alternative service of its Subpoena to Produce Documents by serving Elon Musk via service upon Tesla Inc.'s registered agent." A Tesla spokesperson told The Times, "It is incorrect to say that Epstein ever advised Elon on anything." Epstein killed himself in August 2019, a month after federal authorities arrested him on an indictment charging him with child sex trafficking.

Companies Hyatt Hotels Corp FollowNEW YORK, May 16 (Reuters) - Texas Attorney General Ken Paxton filed a lawsuit on Monday against Hyatt Hotels Corp (H.N) for allegedly violating Texas consumer protection laws by misleading consumers with marketing and charging hidden fees. In a petition filed in district court, Paxton said U.S.-based Hyatt did not include mandatory fees in advertised room rates to stop comparison shopping, amounting to millions of dollars in fraudulent charges. "I will not stand by while Texas consumers are taken advantage of by Hyatt, or by any hotel chain that tries to get away with charging illegal hidden fees," Paxton said in a press release. The company did not immediately respond to a request for comment on Paxton's lawsuit. Reporting by Doyinsola Oladipo in New York; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

☆ US Virgin Islands subpoenas Elon Musk as part of lawsuit into Jeffrey Epstein sex trafficking ring
▼ + stars: | 2023-05-15 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —The US Virgin Islands has subpoenaed Elon Musk, requesting documents from the billionaire for the government’s lawsuit alleging JPMorgan Chase benefited financially from Jeffrey Epstein’s sex trafficking operation. The Virgin Islands’ government issued the subpoena on April 28 but had difficulty obtaining an address for Musk to locate and serve him, even hiring an investigative firm. The subpoena is requesting all communications between Musk and JPMorgan regarding Epstein or any role the disgraced financier played in the Tesla CEO’s financial management. It also requested any documents regarding fees paid to Epstein or JPMorgan, or any documents regarding Epstein’s sex trafficking ring. In 2022, the US Virgin Islands filed a lawsuit against JPMorgan Chase, alleging the Wall Street giant benefited financially from Epstein’s sex trafficking operation and failed in its duty to report suspicious financial activity.

[1/2] A woman checks the arrivals and departures board at Chicago Midway International Airport in Chicago, Illinois, U.S. April 18, 2023. REUTERS/Jim Vondruska/File PhotoNEW YORK, May 10 (Reuters) - A gloomy forecast from vacation rental firm Airbnb (ABNB.O) weighed on travel-related stocks on Wednesday as an expected slowdown in bookings signaled an impending slump in travel demand with consumers seeking cheaper accommodation amid inflation and recession fears. Airbnb's forecast will heighten caution in the travel sector, which encompasses hotels, airlines, and vacation rental firms, according to an investor note by JPMorgan analysts, led by Doug Anmuth. "We also believe Airbnb's commentary will result in increased caution in the travel space, but more specifically around vacation and the U.S.," the analysts said. Reporting by Chibuike Oguh in New York; Editing by Lance Tupper and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

☆ Judge says Google co-founder Larry Page can be served with legal papers in Jeffrey Epstein suit
▼ + stars: | 2023-05-04 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

A federal judge said that Google co-founder Larry Page can be served with legal papers by the government of the U.S. Virgin Islands for its civil lawsuit against JPMorgan Chase related to sex trafficking by the bank's long-time customer Jeffrey Epstein. A docket entry on Thursday did not disclose the nature of the legal papers the USVI wants to serve Page in the suit, which is pending in U.S. District Court in Manhattan. Page was CEO of Google's parent Alphabet from 2015 through 2019, after previously serving as Google's chief executive officer. The USVI and a woman who says she was sexually abused by Epstein are separately suing JPMorgan, claiming the bank was complicit in his sex trafficking of multiple women. JPMorgan, whose CEO Jamie Dimon is due to be deposed in the case in late May, denies wrongdoing.

☆ Hyatt Hotels CEO Mark Hoplamazian: Our resorts rates grow as total demand for leisure increases
▼ + stars: | 2023-05-04 | 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 EmailHyatt Hotels CEO Mark Hoplamazian: Our resorts rates grow as total demand for leisure increasesHyatt Hotels CEO Mark Hoplamazian joins 'Squawk on the Street' to discuss a rebound in travel based to and from China, Hyatt's focus on high-end travelers, and forecasts for continued growth in 2023.

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

Executives still remained confident about the momentum in demand continuing in the near-term, including in international travel, led by U.S. travelers and China's reopening. Hilton now expects full-year adjusted profit per share between $5.68 and $5.88, compared with a prior forecast of $5.42 to $5.68. The company's net unit growth - which reflects room additions - fell 32% to 5,300 rooms in the first quarter. "We predicted this air pocket (fall in net unit growth), and expect it to be short-term... but this will play to key investor concern on financing risk," Bernstein analyst Richard Clarke said, adding that investor focus was more on unit growth than demand. Hilton reported an adjusted profit of $1.24 per share, compared with analysts' average estimates of $1.13, according to Refinitiv data.

Investors should park some of their money in Hyatt Hotels shares, as high-end leisure and a rebound in international travel drive growth, according to Bernstein. Analyst Richard J. Clarke named the hotel chain his top pick for 2023, noting that Hyatt's strength in luxury stays sets it apart for the biggest revenue acceleration amongst other big hotel groups. The analyst has an outperform rating on Hyatt shares. "Added to that is the highest exposure to the leisure tourists, especially high-end leisure, which gives Hyatt the greatest offset to a potential downturn. "In a blue sky scenario, we would argue that Hyatt's exposure to luxury should deserve a multiple premium even, as we see in the luxury car and goods sectors."

☆ Sergey Brin is one of 4 billionaires subpoenaed in a lawsuit about JPMorgan's links with Jeffrey Epstein, report says
▼ + stars: | 2023-04-01 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Sergey Brin was subpoenaed in a lawsuit involving JPMorgan, The Wall Street Journal reported. The US Virgin Islands is suing JPMorgan over its connections with the sex offender Jeffrey Epstein. The US Virgin Islands sued JPMorgan late last year, saying it "knowingly facilitated, sustained, and concealed the human trafficking network operated by Jeffrey Epstein." It hit back at the Virgin Islands' lawsuit by saying the jurisdiction did "nothing to stop" Epstein's trafficking operation and was seeking to deflect blame. The US Virgin Islands and JPMorgan didn't immediately respond to requests for comment from Insider, made outside normal working hours.

In this article HJPM Follow your favorite stocks CREATE FREE ACCOUNTA mugshot of Jeffrey Epstein released by the U.S. Justice Department. The subpoenas demand communications and documents related to the bank and Epstein, The Journal noted. The bank earlier this month sued former JPMorgan investment banking chief Jes Staley, claiming he is responsible for the suits related to Epstein. A lawyer for the Virgin Islands earlier this month said in court that Dimon knew in 2008 that Epstein was a sex trafficker. That was the year that Epstein first was hit with sex crime charges in state court in Florida.

Biden's 2024 race will be different, aides and Democratic party officials say. The race to host the party convention is now down to two cities, sources say: Chicago and Atlanta. Chicago's pull is rooted in tradition, deep-pocketed donors and union ties, while Atlanta's appeal reflects the power of Georgia's grassroots networks and the importance to the party of Black voters and a racially diverse electorate. Top Democratic political officials in eight Midwestern states wrote Biden last week to push for a Chicago convention. CHICAGO, UNION TOWNHolding the convention in Chicago would put Biden in a Democratic powerhouse, where the party controls the legislature and executive branches.

☆ Hedge funds are dumping these stocks most exposed to tight financial conditions
▼ + stars: | 2023-03-28 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

As the banking crisis unfolded, hedge funds turned bearish on financials and other stocks exposed to tightening credit conditions, according to Goldman Sachs. The smart-money cohort has sharply reduced net exposures to "Lending Sensitive Stocks" in the aftermath of the collapse of Silicon Valley Bank, according to Goldman's prime brokerage data. The hedge funds' long positions in those credit-sensitive companies divided by short positions — known as the long/short ratio — ended last week at 1.72, the lowest level in more than five years, the data said. Meanwhile, hedge funds have been dumping U.S. bank stocks amid the chaos with long/short ratio in that category standing at 1.28, near a 10-year low, Goldman said. The demise of Silicon Valley Bank left investors concerned that other regional banks might face similar balance sheet issues, a possible mismatch between long-dated assets and short-dated liabilities.

☆ Barclays upgrades Hilton, says hotel chain can weather macro challenges better than peers
▼ + stars: | 2023-03-09 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Analyst Brandt Montour upgraded shares of Hilton to overweight from equal weight, saying the hotel chain can weather macro challenges better than its peers. We shift our preference to HLT for its underappreciated net unit growth prospects amidst a slowing macro backdrop," Montour wrote in a Thursday note. Hilton is a "best-in-class" lodging company that has the strongest net unit growth among its competitors, according to the analyst. Hilton shares are 16% higher this year, while Hyatt shares are up even more, advancing 32%. The analyst's $168 price target for Hilton shares, raised from $151 previously, implies about 13% upside from Wednesday's closing price.

☆ U.S. travel companies experience high demand but economic worries cloud outlook
▼ + stars: | 2023-02-24 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +3 min

NEW YORK, Feb 24 (Reuters) - Fears of recession and the impact of inflation on consumer budgets could curb a rebound in travel demand reported by U.S. travel companies in the fourth quarter, although bookings are holding up so far this year, analysts said. U.S. travel spending in December 2022 totaled $97 billion, 3% above 2019 levels and 7% above 2021 levels, according to the U.S. Travel Association. The demand contrasts with declining home improvement sales and other discretionary purchases that have hurt furniture stores and retailers like Home Depot. International travel spurred demand growth for Airbnb and Marriott International Inc (MAR.O) in the fourth quarter. Group bookings are still down 15% compared to pre-pandemic levels, while headwinds in several industries continue to affect business travel, said Truist's Scholes.

☆ Stay away: These stocks are expensive and most vulnerable to a consumer slowdown, Wolfe Research says
▼ + stars: | 2023-02-22 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Consumer spending is likely to turn negative following "a series of rolling recessions," and there are several vulnerable stocks that investors may want to steer clear of in the months ahead, according to Wolfe Research. Most of them have highly volatile gross margins, leaving them vulnerable to disappointing consumer spending. It's followed in volatility by Peloton , with gross margin volatility of 31%. Its gross margin volatility is 13%. DraftKings and Las Vegas Sands are also near the top in terms of gross margin volatility, at 26% and 25%, respectively.

☆ Key inflation data in the week ahead will offer clues to future Fed rate moves and the market's path
▼ + stars: | 2023-02-11 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Looking forward The January consumer price index (CPI) , which calculates the average change over time in prices that shoppers pay for goods and services, is slated for Tuesday. Economists and investors will use the number to gauge the odds of a soft landing or hard landing for the economy. The producer price index (PPI) for January, which calculates the change in selling prices received by producers of goods and services, is out on Thursday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Each calendar year after spending $60,000 on eligible purchases, Card Members are eligible to select an Earned Choice Award benefit. Automatic Marriott Gold elite status (room upgrades and late checkout when available, bonus points on stays) Check mark icon A check mark. 1K Bonus Points Per Stay: Earn 1,000 Marriott Bonvoy® bonus points per paid eligible stay booked directly with Marriott for properties participating in Marriott Bonvoy. Cardholders receive automatic Hilton Gold status, which opens the door to perks like free breakfast (food and beverage credit at US hotels), bonus points, and room upgrades. With Gold status, you'll get perks like a 10% points bonus on paid stays, late checkout when available, and access to preferred rooms.

As a newly minted Airman, I was floored when I first found out about all the credit card perks active duty military members receive. Note that credit card lenders may use many different variations of credit score models when considering your application. Review: IHG Rewards Premier credit card reviewBest Discover Cards for Military MembersWhile Discover credit cards don't actually charge any annual fees — it's one of their hallmarks — they've outdone much of the competition by eliminating all over-limit and late fees for active-duty military credit cards. Review: Navy Federal Flagship Rewards credit card reviewBest Credit Cards for Active-duty Military Frequently Asked Questions (FAQ)Are military credit cards guaranteed approval? Military members will have their credit vetted just as anyone who applies for a credit card.

☆ The new Select World Elite Mastercard is making its debut — and it gives you big discounts at fancy restaurants, hotels, and more
▼ + stars: | 2023-02-02 | by ( Joseph Hostetler | Credit Cards Reporter | Read More | ) www.businessinsider.com time to read: +21 min

You can get exclusive discounts at restaurants at several cities in the US with the Select World Elite Mastercard. The Select™ World Elite Mastercard® will confer membership to the Select community (among other benefits). Coming soon: Select World Elite MastercardThe Select World Elite Mastercard (currently taking waitlist applicants here) has opened its waitlist as of February 2, 2023. Credit card perksThe Select World Elite Mastercard comes with standard World Elite Mastercard benefits, including access to the World Elite Concierge, Mastercard Luxury Hotels and Resorts, and discounts with Lyft, DoorDash, and Fandango. What to know about the Select World Elite MastercardThe Select™ World Elite Mastercard® offers a benefit that you won't find on any other card — membership to the Select community, giving you exclusive access to various events, discounts on travel, and more.

The best hotel credit cards all have one outstanding benefit that gives cardholders the incentive to renew year after year: free night certificates and/or bonus points that are worth more than the annual fee. 2 Bonus Points per $1 spent in your top three spend categories each quarter through 12/31/23, then your top two categories each quarter. Each calendar year after spending $60,000 on eligible purchases, Card Members are eligible to select an Earned Choice Award benefit. Show more Regular Annual Percentage Rate (APR) 20.24% - 27.24% Variable Editor's Rating 4.4 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.4 out of 5 Stars Our editor's ratings analyze fees, bonuses, rewards, and benefits to highlight the simplest and most valuable credit cards available. Credit Cards With Annual Free Nights Frequently Asked Questions (FAQ)How do I use a free night certificate?

Enjoy complimentary Hilton Honors Gold Status with your Hilton Honors Business Card. Read our review Read Our Review A looong arrow, pointing rightThe Hilton Honors American Express Business Card is worth considering if you're a Hilton loyalist and are eligible for a small-business credit card. The Hilton Honors American Express Business Card is one of four co-branded Hilton credit cards issued by Amex, and the other three — Hilton Honors American Express Card, Hilton Honors American Express Surpass® Card , and Hilton Honors American Express Aspire Card — are also solid picks. The Hilton Honors American Express Business Card is a small-business card, which means you'll need to have a business to qualify. So, for example, if you already have the Hilton Honors American Express Card, Hilton Honors American Express Surpass® Card, or Hilton Honors American Express Aspire Card, you're still eligible for The Hilton Honors American Express Business Card.

Below is a complete list of all-inclusive resorts you can book with Hyatt points in Latin America and Europe — and the number of points you'll need to do it. Caribbean/Latin AmericaHotel Category Zoëtry Agua Punta Cana C (25,000 points) Zoëtry Casa del Mar Los Cabos C (25,000 points) Zoëtry Curaçao Resort & Spa C (25,000 points) Zoëtry Montego Bay Jamaica C (25,000 points) Zoëtry Marigot Bay St. Lucia F (50,000 points) Zoëtry Paraiso de la Bonita Riviera Maya C (25,000 points) Zoëtry Villa Rolandi Isla Mujeres Cancun C (25,000 points) Sunscape Akumal Beach Resort & Spa A (15,000 points) Sunscape Curaçao Resort, Spa & Casino B (20,000 points) Sunscape Dorado Pacifico Ixtapa A (15,000 points) Sunscape Puerto Plata Dominican Republic A (15,000 points) Sunscape Puerto Vallarta Resort & Spa A (15,000 points) Sunscape Sabor Cozumel A (15,000 points) Breathless Cabo San Lucas Resort & Spa C (25,000 points) Breathless Cancun Soul Resort & Spa C (25,000 points) Breathless Montego Bay Resort & Spa C (25,000 points) Breathless Punta Cana Resort & Spa B (20,000 points) Breathless Riviera Cancun Resort & Spa B (20,000 points) Secrets Akumal Riviera Maya C (25,000 points) Secrets Aura Cozumel C (25,000 points) Secrets Bahia Mita Surf & Spa Resort B (20,000 points) Secrets Cap Cana Resort & Spa C (25,000 points) Secrets Huatulco Resort & Spa B (20,000 points) Secrets Maroma Beach Riviera Cancun C (25,000 points) Secrets Moxché Playa del Carmen C (25,000 points) Secrets Papagayo Costa Rica C (25,000 points) Secrets Playa Mujeres Golf & Spa Resort C (25,000 points) Secrets Puerto Los Cabos Golf & Spa Resort C (25,000 points) Secrets Riviera Cancun Resort & Spa C (25,000 points) Secrets Royal Beach Punta Cana B (20,000 points) Secrets St. James Montego Bay C (25,000 points) Secrets St. Martin Resort & Spa C (25,000 points) Secrets The Vine Cancun C (25,000 points) Secrets Vallarta Bay Puerto Vallarta B (20,000 points) Secrets Wild Orchid Montego Bay C (25,000 points) Dreams Acapulco Resort & Spa A (15,000 points) Dreams Aventuras Riviera Maya B (20,000 points) Dreams Bahia Mita Surf & Spa Resort B (20,000 points) Dreams Curaçao Resort, Spa & Casino B (20,000 points) Dreams Dominicus La Romana B (20,000 points) Dreams Huatulco Resort & Spa B (20,000 points) Dreams Jade Resort & Spa B (20,000 points) Dreams Karibana Cartagena Golf Resort & Spa B (20,000 points) Dreams Las Mareas Costa Rica C (25,000 points) Dreams Los Cabos Suites Golf Resort & Spa B (20,000 points) Dreams Macao Beach Punta Cana B (20,000 points) Dreams Natura Resort & Spa B (20,000 points) Dreams Onyx Resort & Spa B (20,000 points) Dreams Palm Beach Punta Cana A (15,000 points) Dreams Playa Bonita Panama A (15,000 points) Dreams Playa Mujeres Golf & Spa Resort C (20,000 points) Dreams Punta Cana Resort & Spa A (15,000 points) Dreams Riviera Cancun Resort & Spa B (15,000 points) Dreams Royal Beach Punta Cana B (20,000 points) Dreams Sands Cancun Resort & Spa B (20,000 points) Dreams Sapphire Resort & Spa B (20,000 points) Dreams Tulum Resort & Spa B (20,000 points) Dreams Vallarta Bay Resort & Spa B (20,000 points) Dreams Villamagna Nuevo Vallarta B (20,000 points) Dreams Vista Cancun Golf & Spa Resort B (20,000 points) Hyatt Ziva Cancun C (25,000 points) Hyatt Ziva Los Cabos B (20,000 points) Hyatt Ziva Puerto Vallarta B (20,000 points) Hyatt Ziva Riviera Cancun C (25,000 points) Hyatt Ziva Cap Cana C (25,000 points) Hyatt Ziva Rose Hall C (25,000 points) Hyatt Zilara Cancun C (25,000 points) Hyatt Zilara Riviera Maya C (25,000 points) Hyatt Zilara Cap Cana C (25,000 points) Hyatt Zilara Rose Hall C (25,000 points)EuropeHotel Category Alua Atlántico Golf Resort A (15,000 points) Alua Boccaccio A (15,000 points) Alua Calas de Mallorca Resort B (20,000 points) Alua Golf Trinidad A (15,000 points) Alua Gran Camp de Mar A (15,000 points) Alua Helios Bay (opening expected May 1, 2023) A (15,000 points) Alua Illa de Menorca A (15,000 points) Alua Leo (participation effective October 17, 2022) A (15,000 points) Alua Suites Las Rocas A (15,000 points) Alua Tenerife A (15,000 points) AluaSoul Carolina A (15,000 points) AluaSoul Costa Málaga A (15,000 points) AluaSoul Menorca A (15,000 points) AluaSoul Orotava Valley A (15,000 points) AluaSun Cala Antena A (15,000 points) AluaSun Continental Park Hotel & Apartments A (15,000 points) AluaSun Costa Park A (15,000 points) AluaSun Doblemar A (15,000 points) AluaSun Far Menorca A (15,000 points) AluaSun Helios Beach (opening expected May 1, 2023) A (15,000 points) AluaSun Lago Park A (15,000 points) AluaSun Lago Rojo A (15,000 points) AluaSun Marbella Park A (15,000 points) AluaSun Mediterráneo A (15,000 points) Dreams Lanzarote Playa Dorada Resort & Spa B (20,000 points) Dreams Sunny Beach Resort & Spa B (20,000 points) Secrets Lanzarote Resort & Spa B (20,000 points) Secrets Mallorca Villamil Resort & Spa C (25,000 points) Secrets Sunny Beach Resort & Spa (opening expected May 1, 2023) B (20,000 p

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☆ Juul settles another 5,000 lawsuits after receiving equity investment, an effort CEO calls 'yet another significant step to secure our path forward'
▼ + stars: | 2022-12-07 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Juul Labs settled over 5,000 lawsuits covering 10,000 plaintiffs on Tuesday. The company said it secured an equity investment to fund the settlement, according to a spokesperson. Juul agreed to pay $439 million to US states and territories in a separate settlement in September. Plaintiffs of the suit include Juul consumers, personal-injury plaintiffs, government entities, and Native American tribes, WSJ reported. A spokesperson for the vape company told Insider the settlement is a "major step" in shaping the future of the company.

☆ Juul Reaches Settlement of Over 5,000 Lawsuits
▼ + stars: | 2022-12-06 | by ( Jennifer Maloney | ) www.wsj.com time to read: 1 min

Juul said that it had secured an equity investment to cover the cost of the settlement. Juul Labs Inc. reached a sweeping legal settlement Tuesday covering more than 5,000 lawsuits and about 10,000 individual plaintiffs, resolving much of the legal uncertainty that had pushed the e-cigarette company to the brink of bankruptcy. Juul said Tuesday that it had secured an equity investment to cover the cost of the settlement. Financial terms weren’t disclosed. Juul has been in talks with early investors including two of its longtime board members, Hyatt Hotels heir Nick Pritzker and California investor Riaz Valani, to fund a bailout that would cover legal liabilities, The Wall Street Journal previously reported.

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