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☆ Linda McMahon, Trump’s Education pick, was sued for allegedly enabling sexual abuse of children
▼ + stars: | 2024-11-21 | by ( John Towfighi | ) edition.cnn.com time to read: +6 min

As head of the WWE, Linda McMahon oversaw its transformation from a wrestling entertainment company into a publicly traded media empire. He also would often film his sexual abuse, according to the filing. Both Linda and Vince McMahon were aware of Phillips’ abuse, the lawsuit alleges. In 2023, the Maryland Child Victims Act, which repeals the statute of limitations in certain child sexual abuse civil lawsuits, became law. Linda McMahon worked in Trump’s first Cabinet as the administrator of the Small Business Administration before stepping down in 2019 to chair a pro-Trump super PAC.

Persons: Linda McMahon, Donald Trump, McMahon, Vince, McMahon —, Melvin Phillips Jr, Phillips, ”, John, “ Phillips, “, Linda, Vince McMahon, Laura Brevetti, ” Brevetti, “ Ms, Vince McMahon “, ” Jessica Rosenberg, Rosenberg, Phillips ’, —, ’, Philips, Greg Gutzler, DiCello Levitt, Murphy, Falcon, Trump’s, Katelyn Polantz Organizations: CNN, Department of Education, Wrestling Entertainment, WWE, Senate, Holdings, New York Post, Maryland Child, Small Business Administration, Trump, America, Policy Institute, TK Holdings, US, Office, of Locations: Connecticut, Baltimore County , Maryland, New York, Southern, of New York

☆ Trump and Fed Chair Powell could be set on a collision course over interest rates
▼ + stars: | 2024-11-21 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

President-elect Donald Trump and Federal Reserve Chair Jerome Powell could be on a policy collision course in 2025 depending on how economic circumstances play out. That in turn could infuriate Trump, who lashed Fed officials including Powell during his first term in office for not relaxing monetary policy quickly enough. Though Powell became Fed chair in 2018, after Trump nominated him for the position, the two clashed often about the direction of interest rates. Should the results start to show up in the data, the Powell Fed may be tempted to hold tougher on monetary policy against inflation. "They're going to look at a very nontraditional approach to policy that Trump is bringing forward but put it through a very traditional economic lens," he said.

Persons: Jerome Powell, Donald Trump, Powell, infuriate Trump, Joseph LaVorgna, Trump Organizations: White, Washington , D.C, Federal, National Economic Council, Trump, Fed, Nikko Securities Locations: Rose, Washington ,, Trump's, Nikko

☆ TGI Friday's Bankruptcy: Changing Tastes, Wall Street Crushed Chain
▼ + stars: | 2024-11-21 | by ( Emily Stewart | ) www.businessinsider.com time to read: +11 min

The hundreds of TGI Fridays franchises across 41 countries are independently owned entities and, therefore, not part of the bankruptcy process. AdvertisementIf you're a TGI Fridays lover, that means you can still go to the one nearby if you want. Like companies in a similar situation, the story of TGI Fridays is one of slow decline before an accelerated crash. In addition to grappling with changing tastes, TGI Fridays has also been subject to another trend in the restaurant business: private equity financial maneuvering. It can always be Friday anywhere, not just TGI Fridays, and maybe at a better price point or nicer experience.

Persons: Ray Blanchette, Brandon Coleman III, Coleman, Weldon Spangler, It's, Jonathan Maze, Tom Cruise, Ruby, Chili's, You've, they'll, who'd, Burt, hasn't, There's, John Bringardner, Bringardner, that's, Ragini, Alicia Kelso, Kelso, TriArtisan, Hostmore, I'm, Emily Stewart Organizations: Street, Restaurant Business, Buffalo Wild Wings, NFL, Strategic Resource, — TriArtisan Capital Advisors, Sentinel Capital Partners —, Sentinel, Citibank, SEC, FTI Consulting, Creditsafe, Hooters, Business Locations: Beppo, New York, Olive, Nation's

☆ Why Mexico Isn’t Panicking About Another Trump Presidency
▼ + stars: | 2024-11-21 | by ( Natalie Kitroeff | ) www.nytimes.com time to read: +1 min

On his path to the presidency, President-elect Donald J. Trump consistently made Mexico a target. But Mexico’s leaders aren’t panicking — in fact, some of them see opportunity in Trump’s return to the White House, according to six current and former officials, some of whom were not authorized to speak publicly. Mexico is banking on its ability to negotiate with a deal maker like Mr. Trump. President Claudia Sheinbaum of Mexico has said that her government “will look to contact President Trump’s transition team before he enters” the White House. The goal of those talks, officials say, would be to reach agreements on key issues ahead of the inauguration in January.

Persons: Donald J, Trump, aren’t panicking, Claudia Sheinbaum, Trump’s Organizations: White Locations: Mexico

☆ Elon Musk just reignited his feud with Jeff Bezos
▼ + stars: | 2024-11-21 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

AdvertisementElon Musk reignited his long-running feud with Jeff Bezos in a X post on Thursday. Musk said Bezos told people that Trump would lose and they should sell their Tesla and SpaceX stock. Elon Musk has taken aim at Jeff Bezos once more, reigniting the war of words between the world's two richest people. In a X post on Thursday, Musk said that Bezos had told people to dump their shares in his companies because Donald Trump was bound to lose the presidential election. This message about Bezos is a way to give himself an excuse to legitimately do so, by saying that 'Bezos started it.'"

Persons: Elon Musk, Jeff Bezos, Musk, Bezos, Trump, Donald Trump, ince, ould, ake Organizations: SpaceX Locations: lon, usk, ehicles,

☆ Why prioritizing employee wellbeing is a strategic business investment
▼ + stars: | 2024-11-21 | by ( ) www.businessinsider.com time to read: +6 min

Employers know that prioritizing employee wellbeing is the right thing to do, but there are also business benefits. Indeed Introduces the 2024 Work Wellbeing 100, ranking the Top Publicly-Traded Companies for Work Wellbeing in the US. Oxford recently analyzed Indeed's work wellbeing dataset and highlighted a strong correlation between company wellbeing and business performance. Indeed's 2024 Global Work Wellbeing Report findings revealed that higher levels of employee wellbeing are associated with improved firm valuation, return on assets, and gross profits. Indeed reinforced the business case for work wellbeing by launching the Work Wellbeing 100, an index ranking the top 100 publicly traded companies based on their Indeed Work Wellbeing Score.

Persons: Russell, — LaFawn Davis, Davis Organizations: Oxford, Nasdaq, Forrester Research, Insider Studios Locations: Oxford, millennials

☆ Elon Musk's startup xAI is now reportedly worth more than what the billionaire paid for Twitter
▼ + stars: | 2024-11-21 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

AdvertisementElon Musk's AI startup, xAI, has been valued at $50 billion, The Wall Street Journal reported. xAI's valuation has doubled since the spring, surpassing the $44 billion Musk paid for Twitter. Elon Musk's AI startup, xAI, has reportedly been valued at $50 billion — $6 billion more than what the billionaire paid to acquire Twitter, the social media platform now known as X. AdvertisementThe new valuation means xAI has surpassed the $44 billion Musk paid for Twitter back in October 2022. xAI previously raised a $6 billion Series B from A16z and Sequoia Capital at a $24 billion post-money valuation.

Persons: Andreessen Horowitz, Elon, xAI, Musk, Sam Altman, OpenAI Organizations: Elon, Street Journal, Twitter, Sequoia Capital, Fidelity, The, Equity Partners, Qatar Investment Authority, Microsoft Locations: A16z

☆ Vance debuts new role as Trump’s point person on Capitol Hill
▼ + stars: | 2024-11-21 | by ( Alayna Treene | Steve Contorno | ) edition.cnn.com time to read: +8 min

Congressional Republicans acknowledge that Vance hasn’t necessarily developed longstanding relationships on Capitol Hill during his abbreviated time in Washington. His coattails turned a 49-51 senate to a 53-47 senate,” Vance wrote on X on Wednesday. The three developed a bond that predates the campaign and has carried into the early days of Trump’s transition. But when you look at the effectiveness of JD in the campaign, there’s no better surrogate for President Trump’s agenda,” the adviser said. “In JD’s view, his role of VP is to take on any issue that President Trump would like him to take on,” the person close to Vance told CNN.

Persons: JD Vance, Donald Trump’s, Vance, Matt Gaetz, he’ll, Pete Hegseth, Vance hasn’t, ”, North Dakota Sen, Kevin Cramer, Trump, “, Donald Trump, ” Cramer, ” Vance, “ Donald J, coattails, Joe Biden’s, Grace Chong, Steve Bannon’s, Chong, ” Trump, Tom Homan, ’, Tulsi Gabbard, Donald Trump Jr, —, Trump’s MAGA, Kamala Harris ’, JD, James Braid, “ Vance, you’ll, ” CNN’s Ted Barrett Organizations: CNN, Capitol, Trump’s Cabinet, Florida Rep, Fox News, Department of Defense, Senate, White, GOP, Cabinet, Trump, FBI, Republican, Democratic, Mar, Elon, JD, Central America —, “, White House Locations: Ohio, Washington, North Dakota, Central, Trump

☆ ‘A lot of fear:’ Trump’s deportation proposals are already rattling workers
▼ + stars: | 2024-11-21 | by ( Alicia Wallace | ) edition.cnn.com time to read: +12 min

“People are afraid of walking the streets right now; there’s a lot of fear … a lot of fear,” Sanchez said. “Shrinking worker (supply) in a period in which those sectors need more workers and are having a hard time finding workers will clearly generate a slowdown,” Peri said. Although temporary farm visas — known as H-2A — do exist, there is no legal way to have year-round foreign workers. “We know [undocumented immigrants] are working, they’re not sitting at home,” he said. “The slowing in immigration that’s broadly anticipated will probably show up in tighter labor markets for lower-skilled workers,” he said in an interview.

Persons: Donald Trump’s, Sam Sanchez, ”, Sanchez, ” Sanchez, Giovanni Peri, Peri, Ron Estrada, “, ” Estrada, farmworkers, Joe Sohm, Farmworker Justice’s Estrada, Carolinians, they’re, “ They’ve, Biden, Trump, Michael Feroli, Julia Pollak, Scott Olson, it’s, Joe Brusuelas, ” Karoline Leavitt, Vance, Joanne Eriaku, Eriaku, she’s Organizations: CNN, Chicago, Coast Hospitality Group, “, Global Migration, University of California, Davis, UCDavis, Migration Center . Business, Biden, Farmworker, North Carolina Growers Association, Congressional, CBO, JPMorgan, Republican National Convention, RSM, Trump, United Nations, UN, Social Locations: America, Mexico, Little, San Francisco, Chicago, ”, Milwaukee, Chicago’s Little, Springfield , Ohio, New York City, Uganda, Eriaku, Kenya, United States

☆ CFPB expands oversight of digital payments services including Apple Pay, Cash App and PayPal
▼ + stars: | 2024-11-21 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

The Consumer Financial Protection Bureau on Thursday issued a finalized version of a rule saying it will soon supervise nonbank firms that offer financial services likes payments and wallet apps. That would include popular services from Apple and Google , as well as payment firms like PayPal and Block . "Digital payments have gone from novelty to necessity and our oversight must reflect this reality," said CFPB Director Rohit Chopra. A year ago, the CFPB said it wanted to extend its oversight to tech and fintech companies that offer financial services but that have sidestepped more scrutiny by partnering with banks. The CFPB said the rule will take effect 30 days after its publication in the Federal Register.

Persons: Rohit Chopra, CFPB Organizations: Banking, Housing, Urban Affairs Committee, Consumer Financial, Tech, Apple, Google, PayPal, Federal Register

The man accused of murdering four University of Idaho students two years ago may be punished with the death penalty if he is convicted, the trial judge has ruled. Idaho's alternative to the death penalty for a first-degree murder conviction is life in prison with at least 10 years served before becoming eligible for parole. Prosecutors had said in court filings that four aggravating factors exist in the case against Kohberger, who turns 30 on Thursday, making the crime more severe and meriting the death penalty. From top left, Kaylee Goncalves, Madison Mogen, Ethan Chapin and Xana Kernodle. A motive remains unclear for the killings of housemates Madison Mogen, 21, Kaylee Goncalves, 21, and Xana Kernodle, 20, and Kernodle's boyfriend, Ethan Chapin, 20, in November 2022.

Persons: Bryan Kohberger's, Steven Hippler, Hippler, Defendant, Prosecutors, Kohberger, Jeff Nye, Nye, Kaylee Goncalves, Madison Mogen, Ethan Chapin, Xana, Hipple, Thomas Creech, —, Anne Taylor, Taylor, Xana Kernodle, Steve Goncalves, Kaylee Organizations: University of Idaho, Washington State University, NBC News Locations: Boise , Idaho, Idaho, Xana Kernodle . Idaho, Pullman, Washington, Boise, Latah County

☆ After a stinging election defeat, the Democrats' next big race kicks off: From the Politics Desk
▼ + stars: | 2024-11-20 | by ( The Politics Desk | ) www.nbcnews.com time to read: +12 min

After a stinging election defeat, the race to lead the DNC kicks offBy Natasha Korecki and Alex Seitz-WaldTwo weeks after suffering another stinging defeat to Donald Trump, Democrats are in the throes of dissecting what went wrong and figuring out their path forward. Martin O’Malley, a onetime presidential candidate and the commissioner of the Social Security Administration, kicked off the race by entering the fray. Minnesota Democratic Party Chair Ken Martin, a DNC vice chair and leader of the Association of State Democratic Committees, followed by formally announcing his candidacy Tuesday. Still looming out there: Wisconsin Democratic Party Chair Ben Wikler, who has developed a reputation as a prodigious fundraiser and field organizer. Read more → ☑️ Latest race calls: Democratic Rep. Marcy Kaptur defeated Republican Derek Merrin in Ohio’s competitive 9th District, NBC News projected.

Persons: Natasha Korecki, Alex Seitz, Wald, Chuck Todd, Donald Trump, Joe Biden, Jaime Harrison, Martin O’Malley, Ken Martin, Martin, O’Malley, Chuck Rocha, Sen, Mallory McMorrow, Ben Wikler, “ Ben, That’s, Rahm Emanuel, Barack Obama, Emanuel, Adam Parkhomenko, Hillary Clinton’s, “, ” Parkhomenko, James Zogby, it’s, Howard Dean, Obama —, Chuck Todd Here’s, Trumpism, Trump, wasn’t, Harris, Biden, Read, Chuck → ➡️, Matt Gaetz, Lloyd Austin, Pete Hegseth, Linda McMahon, Matt Whitaker, 🗞️ Organizations: NBC, White House, Capitol, Democratic National Committee, DNC, Maryland Gov, Social Security Administration, Minnesota Democratic, Association of State Democratic Committees, Democratic, Politico, Republican, Democratic National Convention, Wisconsin Democratic, Chicago, NBC News, Arab American Institute, America, GOP, Pentagon, “ DEI, Biden, Chuck → ➡️ Trump, Wrestling Entertainment, Education Department, Former, Atlantic Treaty Organization Locations: Michigan, U.S, Japan, Oklahoma

A group of more than a dozen Republican lawmakers is urging a collegiate athletic conference to ban transgender women from competition after reports of a trans student competing on the s women’s volleyball team of a participating university. “Under these guidelines, it is only fair that biological males play men’s sports and biological females play women’s sports.”“Clearly, the Mountain West Conference has dropped the ball,” it continues. In September, SJSU volleyball player Brooke Slusser joined a lawsuit filed by more than a dozen women athletes against the NCAA, which oversees collegiate athletics, about trans athletes’ participation in school sports. The lawsuit argues that the NCAA violated the Title IX rights of cisgender female athletes by allowing transgender women to compete against them. Just last week, Slusser and 10 other former and current athletes in the Mountain West Conference filed a separate lawsuit against the conference and three SJSU staffers, accusing them of violating players’ Title IX rights.

Persons: Utah’s Sen, Mitt Romney, Sen, Mike Lee, John Curtis, Blake Moore, Burgess Owens, Celeste Maloy, Idaho’s Sen, Mike Crapo, James Risch, Russ Fulcher, Mike Simpson, Wyoming’s Sen, John Barrasso, Cynthia Lummis, Harriet Hageman, SJSU, Brooke Slusser, Lia Thomas, University of Nevada and Southern Utah University —, Michelle Smith McDonald, ” Organizations: Republican, Mountain West Conference, NCAA Division, Rep, San, NBC, NCAA, University of Pennsylvania, — Utah State University, University of Wyoming, Boise State University, University of Nevada and Southern Utah University Locations: San José State

☆ Danish military says it staying close to Chinese ship after data cable breaches
▼ + stars: | 2024-11-20 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +2 min

The Danish military said Wednesday that it was staying close to a Chinese ship currently sitting idle in Danish waters, days after two fiber-optic data telecommunication cables in the Baltic Sea were severed. Chinese bulk carrier Yi Peng 3 was anchored in the Kattegat strait between Denmark and Sweden on Wednesday, with a Danish navy patrol ship at anchor nearby, MarineTraffic vessel tracking data showed. “The Danish Defense can confirm that we are present in the area near the Chinese ship Yi Peng 3,” the military said in a post on social media X, adding it had no further comments. It is quite rare for Denmark’s military to comment publicly on individual vessels travelling in Danish waters. It did not mention the cable breaches or say why it was staying with the ship.

Persons: Yi Peng, “, Carl, Oskar Bohlin, Dmitry Peskov, ” Organizations: Danish Defense, Swedish Civil Defense, Reuters, coastguard Locations: Danish, Baltic, Denmark, Sweden, Russian, Ust, Luga, Lithuania, Finland, Germany, Swedish, Russia

☆ Tom's of Maine toothpaste contained bacteria-contaminated water, FDA says
▼ + stars: | 2024-11-20 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +4 min

Tom’s of Maine said in a statement Wednesday that it is working with the FDA and remedying issues raised from the May inspection. That water was used to manufacture Tom’s Simply White clean mint paste and for the final rinse of numerous equipment cleaning processes, the letter said. “Batches manufactured after these incidents were released based on the microbial testing of the finished OTC product despite the quality of the water used as a component or to clean the equipment,” the FDA letter said. The investigator “also observed powder residues at a stainless-steel tray” near a batch of Tom’s Silly Strawberry anticavity toothpaste. We are also making capital investments as part of an ongoing, significant upgrade of the Sanford plant’s water system."

Persons: —, insidiosa, yeei, “, Tom’s Organizations: FDA, Colgate, Palmolive, Centers for Disease Control, NBC News Locations: Maine, Sanford , Maine, Sanford

Comcast announced a plan Wednesday to spin off most of its cable television networks into a separate publicly traded company. The new company will include the USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and the Golf Channel. Comcast will retain key NBCUniversal assets, including the NBC broadcast network, NBC News, NBC Sports, the streaming service Peacock, and the cable channel Bravo. The move comes as the traditional cable television bundle faces stiff economic headwinds, most notably the rise of cord-cutting and the shift to streaming alternatives. Matt Strauss will become chairman of the NBCUniversal Media Group.

Persons: Mike Cavanagh, ” Cavanagh, “, Cavanagh, Mark Lazarus, Anand Kini, Dan Ives, ”, ” Rich Greenfield, ” Greenfield, Cesar Conde, Conde “, ” Donna Langley, Peacock, Matt Strauss, Mark Woodbury Organizations: Comcast, USA Network, CNBC, MSNBC, SYFY, Golf Channel, NBC, NBC News, NBC Sports, Bravo, Wall Street Journal, Wedbush Securities, LightShed Partners, Wednesday, NBCUniversal, Group, Telemundo, NBCUniversal Entertainment, Studios, NBCUniversal Media, Universal, General Electric, Netflix, Amazon Prime Locations: NBCUniversal

The House Ethics Committee weighs releasing their report on Matt Gaetz. And Susan Smith, who made headlines for killing her sons 30 years ago, is up for parole. The Ethics Committee has jurisdiction only over sitting members of Congress, Johnson argues. But there is precedent for the Ethics Committee to publish reports after a member of Congress has resigned. Susan Smith up for parole 30 years after killing her sonsSusan Smith leaves court after a hearing in Union, S.C., in 1995.

Persons: Matt Gaetz, Susan Smith, Donald Trump, Gaetz, Susan Wild, Joel Leppard, Mike Johnson, Trump, Johnson, Read, Mike Cavanaugh, ”, Vladimir Putin, Brooks Kraft, Smith’s, Michael, Alex, Smith, Rafael Nadal, Jay Leno, Barbara Gauntt, Chokwe Antar Lumumba, Lumumba, — Bracey Harris Organizations: Comcast, Justice Department, Republicans, Democrats, Gaetz, MSNBC, Syfy, Golf, CNBC, Oxygen, NBC News, NBC, Bravo, United, Brooks, Brooks Kraft LLC, Getty, South, Davis, Mississippi State Capitol, Clarion, Ledger, Residents Locations: Florida, USA, U.S, Kyiv, United States, Ukrainian, Russian, Ukraine, Union, South Carolina, Northern California, Pacific, California, Jackson

WASHINGTON — Members of the House Ethics Committee will meet behind closed doors Wednesday afternoon to discuss whether to publicly release a report detailing their sweeping investigation into former Rep. Matt Gaetz, President-elect Donald Trump’s pick for attorney general. Several Republicans and Democrats in the Senate have said they want to review the House report before a Judiciary Committee confirmation hearing for Gaetz next year. She argued that there is precedent for the Ethics Committee to publish reports after members of Congress have resigned. If the committee declines to make the Gaetz report public, any House member can try to force a vote to release it. In September 1996, House Democrats tried to force the Ethics Committee to release a report from an outside counsel about its investigation of then-Speaker Newt Gingrich, R-Ga.

Persons: Matt Gaetz, Donald Trump’s, Gaetz, Mike Johnson, Trump, “ I’ve, ” Johnson, “ Matt Gaetz, —, Michael Guest, Susan Wild, Joel Leppard, Leppard, ”, JD Vance, Pete Hegseth, Bill Boner, Boner, Boner’s, Buz Lukens, Newt Gingrich Organizations: WASHINGTON, Republicans, Democrats, Justice Department, NBC News, Trump, Capitol, Cabinet, Senate, Congress, “, Committee Locations: Florida, Nashville, Ohio

☆ Stocks making the biggest moves premarket: Target, Dolby Labs, Nio, Netflix and more
▼ + stars: | 2024-11-20 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Target – Shares plunged more than 17% after the Minneapolis-based retailer missed third-quarter earnings and revenue estimates and slashed its full-year guidance, just three months after raising that forecast. Delta Air Lines – The Atanta-based carrier fell more than 1% after reiterating its outlook for the fourth quarter . Nio – U.S. shares fell more than 2% after the Chinese electric vehicle maker posted lower-than-expected revenue for the third quarter. Dolby earned 61 cents per share in its fiscal fourth quarter, above analysts' estimated 45 cents per share, according to FactSet. Powell Industries – Shares of the electrical equipment company fell 13% after new orders in the fiscal fourth quarter fell to $267 million from $356 million in the third quarter.

Persons: NBCUniversal, Brian Roberts, Goldman Sachs, Morgan Stanley, Nio, Dolby, Robinhood, Needham, Keysight, Piper Sandler, Mike Tyson, Jake Paul, —, Alex Harring, Jesse Pound, Pia Singh, Sarah Min Organizations: –, Comcast, CNBC, MSNBC, Delta Air Lines, Delta, FactSet, Dolby, Technologies, Powell, BDO, Nasdaq, Netflix Locations: Minneapolis, Nio –

☆ Liam Payne: Funeral for former One Direction member to be held in England
▼ + stars: | 2024-11-20 | by ( Sana Noor Haq | ) edition.cnn.com time to read: +2 min

London CNN —Mourners will gather to remember Liam Payne in England on Wednesday, according to PA Media, after the British singer died last month. Close family of Payne, 31, and his former One Direction band members are among those expected to attend the funeral, PA Media reported. The British singer died on October 16 after falling from the third floor of a hotel in Buenos Aires, Argentina. Payne had alcohol, cocaine, and a prescription antidepressant in his system, according to the country’s public prosecutor’s office, which launched an investigation. Payne soared to global fame as part of One Direction, the group that was created on the British talen show “The X Factor” in 2010.

Persons: Liam Payne, Payne, Bear, Cheryl Tweedy, – Zayn Malik, Harry Styles, Niall Horan, Louis Tomlinson –, “, ” Malik, Styles, Horan, Tomlinson, Liam, ” Organizations: London CNN, PA Media Locations: England, British, London, Buenos Aires, Argentina

Gary Wang, a former executive of bankrupt cryptocurrency exchange FTX, who testified against founder Sam Bankman-Fried, attends his sentencing on fraud charges at the United States District Court in Manhattan in New York City, U.S., November 20, 2024. Wang was also ordered to forfeit $11 billion, the same as the other co-defendants. When given the opportunity to address the court, Wang said he was deeply sorry to all the customers and investors in FTX. Roos also noted that Wang was the first FTX employee to walk through the government's door but the last to be sentenced, as the FTX criminal proceedings come to a close. In March, Bankman-Fried was sentenced to 25 years in prison and ordered to pay $11 billion — the harshest punishment from Judge Kaplan.

Persons: Gary Wang, Sam Bankman, Wang, Nishad Singh, Lewis Kaplan, Nicolas Roos, Roos, Fried, Judge Kaplan, Alameda's, Caroline Ellison, Ryan Salame, I've, Kaplan Organizations: United States, Court, Alameda Research, U.S, Government, Southern, of Locations: Manhattan, New York City, U.S, FTX, Alameda, Bankman, —, of New York

☆ How much of Musk’s wealth comes from tax dollars and government help?
▼ + stars: | 2024-11-20 | by ( Chris Isidore | ) edition.cnn.com time to read: +8 min

Government crucial to Musk’s net worthIt’s worthwhile to ask just how much of his world-leading net worth comes from government help over the last 10 to 15 years. Tesla and SpaceX got started – and survived their early days – with assistance from state and federal policies, government contracts and loans. Tesla buyers received federal tax credits worth an estimated $3.4 billion before the perk disappeared entirely for Tesla buyers at the end of 2019. “Take away the subsidies, it will only help Tesla,” Musk posted on his social media platform X in July. According to USASpending.gov, the government database that tracks federal spending, SpaceX has signed contracts worth nearly $20 billion.

Persons: New York CNN — Elon Musk, Donald Trump, Musk, ”, Daniel Ives, SpaceX doesn’t, Tesla’s, Noah Berger, Tesla, Trump, ” Musk, Elon Musk, Frederic J . Brown, Ives, Brandon Bell, USASpending.gov, Casey Dreier, ” Dreier, “ Elon, Dreier, CNN’s Jackie Wattles Organizations: New, New York CNN, SpaceX, Trump, Government, Wedbush Securities, Reuters, Department of Energy, Biden, US, Tesla, Getty, NASA, International Space, Planetary Society Locations: New York, Fremont , California, Hawthorne , California, AFP, Brownsville , Texas, Russia

☆ Comcast's cable network spinoff may be a signal to the media industry for necessary change
▼ + stars: | 2024-11-20 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com time to read: +3 min

Cable networks are still profitable, but they're hemorrhaging subscribers and revenue every year as Americans cancel traditional pay TV for streaming services. Still, Disney's cable networks, including FX and Disney Channel, are more integrated with its streaming platforms than NBCUniversal's cable networks are with Peacock, the company's subscription streaming service. That may ultimately be where cable networks are heading — to private ownership willing to harvest them for cash. Another possible path for the spinoff is as a rollup entity for other cable networks. Discovery's debt and its cable networks.

Persons: It's, Peacock, Mark Lazarus Organizations: Comcast, Investors, Cable, Disney, FX, Disney Channel, SpinCo's, CNBC, MSNBC, Warner Bros, Paramount Global Locations: Peacock

☆ Comcast doesn't want its cable TV networks anymore
▼ + stars: | 2024-11-20 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

One of the country's biggest cable TV companies doesn't want its cable networks anymore. That's the pitch Comcast is making Wednesday as it announces plans to split off almost all of its cable TV networks into a new company. Into the spinco goes every cable network Comcast owns except for Bravo. For the record: Comcast says it thinks the cable networks it is ditching can be successful on their own. And as I said last month: Comcast is getting rid of its basic cable networks for the same reason everyone who owns basic cable networks would like to get rid of their cable networks.

Persons: Brian Roberts, Trump, Kamala Harris, Brendan Carr, Trump's Organizations: Cable, Comcast, Bravo, CNBC, MSNBC, NBC, Paramount, Warner Bros, Discovery, Disney, Federal Communications Commission, CBS, Fox News Locations: USA

So why shouldn’t federal employees who are paid with taxpayer dollars be required to be in office?” the source said. Ending remote work across government is being considered a potential “early candidate” for executive orders that members of DOGE will recommend to Trump, the source said. “I can’t abandon this career,” one Library of Congress worker who lives in the Midwest told CNN. Another federal employee who works remotely told CNN that they would have to commute two to three hours to the nearest office. Other targets beyond remote workRemote work isn’t the only cost-cutting measure that is likely to be addressed through executive orders.

Persons: Donald Trump’s, Elon, Vivek Ramaswamy, Ramaswamy, “, ”, “ It’s, ” Everett Kelley, AFGE, Charlie Kirk –, –, DOGE, Kirk, doesn’t, aren’t, Musk Organizations: CNN, of Government, Republican, Trump, telework, Personnel Management, American Federation of Government Employees, Midwest, of Congress, Congress, General Services Administration Locations: Washington, DC, Washington ,

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