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☆ Juul Labs raises $1.3 bln in funding
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

Juul brand vaping pens are displayed for sale at a Juul shop in Jakarta, Indonesia, December 30, 2019. REUTERS/Ajeng Dinar Ulfiana Acquire Licensing RightsNov 13 (Reuters) - Juul Labs said on Monday it has raised about $1.3 billion in funding, months after the e-cigarette maker revealed plans to lay off about 250 people in a bid to reduce its operating costs. Juul disclosed in a regulatory filing it had raised $1.27 billion in funding from a total offering amount of $1.6 billion. The company did not immediately respond to a request for comment on how it plans to use these funds. Marlboro maker Altria (MO.N) also exited its stake in Juul earlier this year, days before announcing a purchase of e-cigarette startup Njoy Holdings for about $2.8 billion.

Persons: Juul, Bhanvi, Shounak Dasgupta Organizations: REUTERS, Juul Labs, Juul, District of Columbia, Holdings, Thomson Locations: Jakarta, Indonesia, New York, California, Marlboro, Altria, Bengaluru

[1/2] Palestinians gather at the site of Israeli strikes on houses in Bureij in the central Gaza Strip,November 2, 2023. The White House said on Wednesday there were "no plans or intentions" to put U.S. troops on the ground in Gaza. As the debate gains momentum, Gaza health authorities say more than 9,000 people have been killed in the 25-mile-long strip of land, home to 2.3 million Palestinians. Any entity that seeks to exert authority in post-war Gaza would also have to contend with the impression among Palestinians that it is beholden to Israel. Israel expects a long war but says it has no interest in re-occupying Gaza.

Persons: Mohammed Fayq Abu Mostafa, Antony Blinken, Mahmoud Abbas, Aaron David Miller, Miller, Jordan, Blinken, We're, Benjamin Netanyahu, Washington’s, Joe Biden, U.N, Antonio Guterres, Dennis Ross, Ross, Israel, Matt Spetalnick, Steve Holland, Humeyra Pamuk, Simon Lewis, Michelle Nichols, Heather Timmons, Grant McCool Organizations: REUTERS, Rights, Hamas, United Nations, Palestinian Authority, West Bank, U.S . Middle, U.S, HAITI U.S, Israeli, . Security, Washington Institute for Near East, United Arab, Carnegie Endowment, International Peace, Thomson Locations: Bureij, Gaza, Washington, Palestinian, Israel, U.S, IRAQ, AFGHANISTAN, HAITI, Iraq, Afghanistan, United Nations, Lebanon, Haiti, Kenya, Egypt, Jordan, United Arab Emirates, Bahrain, Morocco

The practice of citizen-originated ballot measures began 125 years ago when South Dakota became the first in the nation to enact a statewide initiative and referendum process. But some still invoke his name in their fight to preserve voters’ ballot measure rights. “It represents for me the fundamental idea of the equal dignity of every human being,” said Heidelberger, who blogs about South Dakota politics. The political conditions were brief but just right in 1897 for lawmakers to approve it; voters passed it the following year. In a memoir compiled by the state Socialist Party, Haire is credited with writing the amendment itself.

Persons: it’s, Robert W, Cory Heidelberger, ”, Heidelberger, Pierre, Haire, Ohioans, “ That’s, John Matsusaka, “, can’t, ” Matsusaka, ” David Schmidt, Drey Samuelson, Sen, Tim Johnson of, you’re, Samuelson, Janine Giordano Drake, Republican State Sen, Michael Rohl, Rohl, ’, Rohl didn’t, Sister Kathleen Bierne, Drake, ” Drake, Bierne, “ We’ve, Father Haire’s, Jesus ’, Eugene Debs, Liz May, Tom Heinz, Heinz, ain’t Organizations: Republican, Socialist Party, it’s, University of Southern California’s Initiative, Referendum, “ Citizen, U.S, Indiana University, Christian Socialist, Catholic, Republican State, Associated Press, Michigan, Aberdeen News, Lilly Endowment Inc, AP Locations: U.S, Ohio, South Dakota, Dakotans, Dakota, California, Tim Johnson of South Dakota, state’s, Brown, Aberdeen

☆ Bank earnings kick off with JPMorgan, Wells Fargo amid concerns about rising rates, bad loans
▼ + stars: | 2023-10-12 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

Just as they did during the March regional banking crisis, higher rates are expected to lead to a jump in losses on banks' bond portfolios and contribute to funding pressures as institutions are forced to pay higher rates for deposits. The issue constrains the bank's interest revenue and has made the lender the worst stock performer this year among the top six U.S. institutions. Expectations on the impact of higher rates on banks' balance sheets varied. Still, others including KBW and UBS analysts said that other factors could soften the capital hit from higher rates for most of the industry. There's also concern that higher interest rates will result in ballooning losses in commercial real estate and industrial loans.

Persons: Jamie Dimon, Marco Bello, Christopher McGratty, David Konrad, McGratty, Morgan Stanley, Betsy Graseck, Konrad, Gerard Cassidy Organizations: JPMorgan Chase &, Reuters, JPMorgan Chase, Citigroup, Bank, Silicon Valley Bank, First, Bank of America, Comerica, Fifth Third Bank, KeyBank, UBS, RBC Locations: Miami , Florida, U.S, Wells Fargo, Silicon, First Republic

"This quarter is all about higher interest rates for longer," said Mike Mayo, an analyst at Wells Fargo. "There is a constructive environment, and investment banking fees tend to be higher through the end of the year," said Jason Goldberg, a banking analyst at Barclays. Despite the renewed optimism, investment banking activity remains depressed. As rates rise, bond prices fall, representing losses on paper that would be realized if the banks sold the bonds. More broadly, "we're back into this environment where investors think interest rates are going to remain higher for longer," he said.

Persons: JP Morgan Chase, Mike Segar, JPMorgan Chase, Goldman Sachs, Morgan Stanley's, Mike Mayo, Ebrahim Poonawala, Jason Goldberg, Richard Ramsden, James Demmert, Ramsden, Tatiana Bautzer, Saeed Azhar, Lananh Nguyen, Nick Zieminski 私 Organizations: JP, Co, REUTERS, JPMorgan, Citigroup, Wells, Bank of America, Federal Reserve, Wall Street, SoftBank's Arm Holdings, Barclays, U.S, Treasury, Valley Bank, Federal Deposit Insurance Corporation, Reuters, Street Research Locations: New York, Wells Fargo, dealmaking, Israel, Bengaluru

☆ Record chicken prices squeeze US shoppers, benefit Tyson Foods
▼ + stars: | 2023-10-05 | by ( Tom Polansek | ) www.reuters.com time to read: +5 min

Higher chicken prices should improve earnings at top producers Tyson (TSN.N) and Pilgrim's Pride (PPC.O), but will pinch consumers' pockets as they try to save money by turning away from higher-end proteins. Arkansas-based Tyson, which sells all three types of meat, had to deal with a glut of chicken after earning massive profits when meat prices soared during the COVID-19 pandemic. The U.S. government last month trimmed its estimate for 2023 chicken production from August due in part to expectations for lower chick placements. "We've seen some recovery in chicken prices and we've seen some consumer prices start to level off," Tyson CFO John R. Tyson told investors last month. Further increases in chicken prices could threaten demand, said Adam Speck, senior commodity analyst for Gro Intelligence.

Persons: Lucas Jackson, Tyson, Bob Brown, Brown, Donnie King, Arun Sundaram, Sundaram, We've, John R, Adam Speck, Bill Densmore, Tom Polansek, Caroline Stauffer, David Gregorio Our Organizations: New York U.S, REUTERS, Rights, Tyson Foods, U.S . Department of Agriculture, Rabobank, Producers, CFRA Research, Gro Intelligence, Fitch, Thomson Locations: Brooklyn, New, Arkansas, U.S, freezers ., Wilkesboro , North Carolina, Great

☆ Former FTX U.S. President explains why he didn't question FTX's financial health
▼ + stars: | 2023-10-02 | by ( Kate Rooney | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer FTX U.S. President explains why he didn't question FTX's financial healthCNBC's Kate Rooney joins 'Squawk Box' with a preview of CNBC’s new digital documentary 'The Collapse of FTX: Insiders Tell All', which premieres today on CNBC.com and explores the factors that contributed to the rise of FTX, what triggered the company’s collapse and the impact the bankruptcy had on FTX customers and investors.

Persons: Kate Rooney Organizations: Former FTX U.S

Tens of thousands died fighting for and against it, destroying the careers of two presidents — one Armenian, one Azerbaijani — and tormenting a generation of American, Russian and European diplomats pushing stillborn peace plans. It outlasted six U.S. presidents. But the self-declared state in the mountainous enclave of Nagorno-Karabakh — recognized by no other country — vanished so quickly last week that its ethnic Armenian population had only minutes to pack before abandoning their homes and joining an exodus driven by fears of ethnic cleansing by a triumphant Azerbaijan. Slava Grigoryan, one of the thousands this week who fled Nagorno-Karabakh, said he had only 15 minutes to pack before heading to Armenia along a narrow mountain road controlled by Azerbaijani troops. On the way, he said, he saw the soldiers grab four Armenian men from his convoy and take them away.

Persons: —, Slava Grigoryan Locations: Nagorno, Karabakh, Azerbaijan, Republic of Artsakh, Armenia

☆ A New Tax to Fix U.S. Autos? What Chutzpah
▼ + stars: | 2023-09-26 | by ( ) www.wsj.com time to read: 1 min

A ‘UAW On Strike’ sign held on a picket line in Burton, Mich., Sept. 25. Photo: Emily Elconin/Bloomberg NewsClifford Winston’s op-ed “UAW Strike May Hasten Detroit’s Decline” (op-ed, Sept. 22) is further evidence that energy-transition advocates want to change your behavior. He proffers “an efficient vehicle-miles-traveled tax,” wherein the government could “reduce driving, especially during peak periods,” as a more efficient means to cut emissions. This would require the government to track vehicles and tax their owners for driving at the wrong time or place and for fueling or charging your soon-to-be-mandated EV at the wrong time.

Persons: Emily Elconin, Clifford Winston’s Organizations: UAW, Bloomberg, “ UAW Locations: Burton, Mich

☆ Former FTX U.S. president Brett Harrison explains new venture focused on investment tools
▼ + stars: | 2023-09-26 | 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 EmailFormer FTX U.S. president Brett Harrison explains new venture focused on investment toolsCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Brett Harrison, former FTX U.S. president and CEO of Architect, explains the new company's focus on investment tools for digital assets and traditional markets.

Persons: Brett Harrison, explainers Organizations: Former FTX U.S, CNBC

☆ Britain signs state-level trade accord with Washington
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +2 min

Britain had hoped for a sweeping bilateral trade deal with the United States after splitting from the European Union, but with President Joe Biden putting all talks on free trade agreements on hold, the British government has pursued state-level agreements instead. The British trade ministry said aerospace would be a priority sector under the Washington MoU, with Boeing (BA.N) being based in the state. The MoU with Washington is the sixth such agreement with a U.S. state. Washington state is also the home of Amazon (AMZN.O), Starbucks (SBUX.O) and Microsoft (MSFT.O), and is the state with the 11th highest gross domestic product (GDP). The six U.S. states covered by MoUs with Britain have a combined GDP of over 2 trillion pounds ($2.4 trillion), Britain said.

Persons: Nusrat Ghani, Kirsty Wigglesworth, Britain, Joe Biden, Ghani, Alistair Smout, William James Our Organizations: Britain's, State Department for Business, Conference, U.S, European Union, Boeing, Starbucks, Microsoft, Thomson Locations: Ukraine, London, Britain, U.S ., Washington, Florida , Texas, California, United States, British, U.S

☆ MicroStrategy buys $147.3 million in bitcoin, bringing total held to $4.68 billion: CNBC Crypto World
▼ + stars: | 2023-09-25 | 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 EmailMicroStrategy buys $147.3 million in bitcoin, bringing total held to $4.68 billion: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Brett Harrison, former FTX U.S. president and CEO of Architect, explains the new company's focus on investment tools for digital assets and traditional markets.

Persons: explainers, Brett Harrison Organizations: CNBC Crypto, CNBC Locations: bitcoin

☆ FTX sues Sam Bankman-Fried's parents, aims to claw back some of the $26 million in gifts and property
▼ + stars: | 2023-09-19 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +5 min

Barbara Fried, mother of Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, leaves the courthouse, after a U.S judge revoked Bankman-Fried's bail, New York, Aug. 11, 2023. Bankrupt crypto exchange FTX is looking to claw back luxury property and "millions of dollars in fraudulently transferred and misappropriated funds" from the parents of Sam Bankman-Fried, the exchange's disgraced ex-CEO and founder. The filing characterizes the correspondence as Bankman lobbying his son to "massively increase his own salary." Bankman-Fried himself independently faces multiple wire and securities fraud charges related to the alleged multibillion-dollar FTX fraud. Bankman and Fried "either knew — or ignored bright red flags revealing — that their son, Bankman-Fried, and other FTX Insiders were orchestrating a vast fraudulent scheme," the lawsuit said.

Persons: Barbara Fried, Sam Bankman, Allan Joseph Bankman, Fried, Sam's, Bankman, Gee, Sam, Barbara, Damian Williams, Joe, Ray Organizations: Bankruptcy, District of, FTX, Administration, Stanford University, Group, Stanford Law School, The U.S . Department of Justice, Bankman, CNBC Locations: New York, U.S, District of Delaware, Bahamas, Alameda, The, Manhattan, Bankman

☆ Teenager Coco Gauff wins U.S. Open women’s final, defeating Aryna Sabalenka in three sets
▼ + stars: | 2023-09-09 | by ( David K. Li | ) www.cnbc.com time to read: +2 min

USA's Coco Gauff reactys as she plays Belarus's Aryna Sabalenka during the US Open tennis tournament women's singles final match at the USTA Billie Jean King National Tennis Center in New York on September 9, 2023. (Photo by ANGELA WEISS / AFP) (Photo by ANGELA WEISS/AFP via Getty Images)Coco Gauff won the U.S. Open women's final, becoming the latest Black American woman to leave a history-making mark on the most sacred grounds of U.S. tennisGauff bested Aryna Sabalenka of Belarus on Saturday 6-2 in the third set. Gibson won the U.S. National Championship women's singles titles in 1957 and 1958, a forerunner of the U.S. Open. Those six U.S. Open singles titles by Serena Williams are only matched by Chris Evert's half-dozen championships in the tournament's modern era, 1975-78 and 1980 and 1982. Correction: Coco Gauff won the U.S. Open in three sets.

Persons: USA's Coco Gauff reactys, Belarus's Aryna, USTA Billie Jean King, ANGELA WEISS, Coco Gauff, Gauff, Aryna Sabalenka, Gauff's, Serena Williams, Venus Williams, Althea Gibson, Gibson, Williams, Serena, Chris Evert's, Read, She's, Arthur Ashe Organizations: USTA, USTA Billie Jean King National Tennis Center, Getty, U.S, Arthur, National, U.S ., NBC Locations: New York, Belarus, Flushing Meadows , New York City, Gauff, Florida, U.S, Flushing Meadows, Queens

Pipelines run to Enbridge Inc.'s crude oil storage tanks at their tank farm in Cushing, Oklahoma. Cushing crude inventories have declined in five of the most recent six weeks by a total of 9 million barrels (-24%) since July 14. The drawdown in U.S. crude inventories has coincided with additional production cuts by Saudi Arabia and Russia totalling around 75 million barrels during July and August. U.S. NET CRUDE IMPORTSU.S. net crude oil imports remain subdued despite the depletion of inventories with exports continuing to run at a relatively fast rate while imports stay low. Related columns:- Oil market to tighten modestly in late 2023 (August 17, 2023)- Crude oil and fuels draw funds as sentiment shifts (August 7, 2023)- U.S. oil and gas production begins to flatten (August 4, 2023)- Saudi output cut removes downside risk from oil market (July 12, 2023)John Kemp is a Reuters market analyst.

Persons: Nick Oxford, CUSHING, Cushing, Biden, John Kemp, David Evans Organizations: Enbridge Inc, REUTERS, U.S . Energy Information Administration, refiners, Traders, NET, U.S . Department of Energy, Strategic Petroleum Reserve, Thomson, Reuters Locations: Cushing , Oklahoma, Chartbook, Cushing, Oklahoma, U.S, Saudi Arabia, Russia, United States, Asia, Europe, Asia . U.S, Ukraine, Saudi

☆ U.S. Steel shares jump after unsolicited bid from Cleveland-Cliffs
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

Steel workers at U.S. Steel Granite City Works in Granite City, Illinois, U.S., May 24, 2018. Despite the surge, shares of U.S. Steel were trading well below the offer price at $27.92, indicating some investors believe a deal may not happen at that price. Cleveland-Cliffs shares were down 6.1%. A combination between the two firms will create the largest steel producer in North America and the 10th largest steel producer in the world and will be a dominant supplier to the transportation sector, KeyBanc Capital Markets analyst Philip Gibbs said in a note. U.S. Steel said it has invited Cleveland-Cliffs to be a part of the review process.

Persons: Lawrence Bryant, steelmaker, Philip Gibbs, Gibbs, Priyamvada, Reshma George, Arpan Daniel Varghese, Saumyadeb Organizations: U.S . Steel, U.S . Steel Granite City, REUTERS, Steel, KeyBanc Capital, Midwest, AK Steel, U.S, . Steel, Thomson Locations: U.S . Steel Granite, Granite City , Illinois, U.S, Cleveland, North America, China, ArcelorMittal, Bengaluru

He had a blank expression as he was led out of the courtroom in handcuffs by members of the U.S. A July 20 article in the New York Times contained excerpts from Ellison's personal Google documents prior to FTX's collapse. She described being "unhappy and overwhelmed" with her job and feeling "hurt/rejected" from her personal break-up with Bankman-Fried. Sassoon said the defendant would be able to access an internet-enabled laptop there to review evidence to prepare for trial. Reporting by Luc Cohen in New York; Editing by Jonathan Oatis, Noeleen Walder and Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, District Judge Lewis Kaplan's, Caroline Ellison, Kaplan, Ellison, Barbara Fried, nodded, Joseph Bankman, Fried, Jane Rosenberg Bankman, Palo, Mark Cohen, Bankman, Cohen, Danielle Sassoon, Sassoon, Luc Cohen, Jonathan Oatis, Noeleen, Rosalba O'Brien Organizations: U.S, District, New York Times, Alameda Research, U.S . Marshals, Stanford University, REUTERS, Prosecutors, Times, Brooklyn's Metropolitan Detention, Correctional, Thomson Locations: U.S, Manhattan, Alameda, United States, New York, Palo Alto , California, New York City, Brooklyn's, Putnam

☆ These 11 funds have performed as well as tech stocks over the past 5 years
▼ + stars: | 2023-07-28 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Look beyond tech But there are opportunities beyond tech: Morningstar data reveals the funds outside of tech and growth sectors that have also outperformed over the last five years. Top holdings include Home Depot, Johnson Controls International, Floor & Décor and Trane Technologies. Guinness Atkinson Alternative Energy Fund : This fund picks companies in the alternative energy sector, with at least half of the business dedicated to renewable energy or energy efficiency. Global X Lithium and Battery Tech ETF : The ETF comprises lithium producers and lithium battery makers — all essential to electric vehicles. Top holdings include United Airlines, Marathon Oil, Tyson Foods, Best Buy, and Synchrony Financial.

Persons: James Demmert, Hubbell, MasTec, Invesco Russell, Russell, Vanguard Baillie Gifford Organizations: Street Research, U.S . Federal, Morningstar, Enphase Energy, Fidelity, Housing, Home, Johnson, Trane Technologies, Guinness Atkinson Alternative Energy Fund, Schneider, NextEra Energy, Shelton Sustainable Equity Fund, Bunge, Battery Tech ETF, Samsung SDI, Trust, Industrial Renaissance, SPX Technologies, Sterling Infrastructure, Global, U.S . Infrastructure Development, Holdings, Rockwell Automation, United Rentals, Deere, Co, United Airlines, Marathon Oil, Tyson Foods, Synchrony, Heptagon, Equity Fund, Xenon Pharmaceuticals, TransMedics, FTAI Aviation, Vanguard, Moderna, Alnylam Pharmaceuticals, Coursera, Water Resources, Nasdaq, Water Locations: Luxembourg, Eaton, Albemarle

☆ Factbox: The Chinese groups accused of hacking the US and others
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +4 min

July 21 (Reuters) - Chinese hacking teams have been blamed by Western intelligence agencies and cybersecurity groups for digital intrusion campaigns across the world, targeting everything from government and military organisations to corporations and media groups. The Chinese authorities said it was not aware of such hacking and described the accusations as baseless. Palo Alto Networks, a U.S. cybersecurity firm, said its research showed BackdoorDiplomacy had links to the Chinese state and was part of the APT15 hacking group. The Chinese authorities have described such reports as "groundless accusations." APT 27Western intelligence agencies and cybersecurity researchers say Chinese hacking team APT 27 is sponsored by the state and has launched multiple attacks on Western and Taiwanese government agencies.

Persons: Gina Raimondo, China Nicholas Burns, Daniel Kritenbrink, BackdoorDiplomacy, TeamT5, Nancy Pelosi, Pelosi, Mandiant, Fanny Potkin, John Geddie, Jamie Freed Organizations: Microsoft, . Commerce, Wall, Storm, Reuters, Alto Networks, APT, U.S Department Justice, U.S, Thomson Locations: China, Beijing, U.S, East Asia, Washington, Western, Taiwan, Japan, South Korea, United States, Hong Kong

☆ Factbox: Site of US national's crossing into North Korea has history of diplomatic, military drama
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +3 min

Most infamously, axe-wielding North Korean soldiers in the DMZ in 1976 murdered two U.S. soldiers who were cutting down a poplar tree to secure a clear view. In 2017, a North Korean soldier was riddled with bullets by his comrades but ultimately survived as he made dash into the South. Following are some facts about the 250 km-long DMZ, which separates North and South Korea. - It is 60 km (37 miles) from Seoul and 210 km (130 miles) from the North Korean capital of Pyongyang. - South Korea estimates the North operates about 160 guard posts along the DMZ and the South has 60.

Persons: U.N, Josh Smith, Tomasz Janowski Organizations: U.S, Joint Security Area, North, North Korea, Command, North Korean, Thomson Locations: SEOUL, North Korea, North Korean, North, South Korea, China, United States, Seoul, Korean, Pyongyang, Panmunjom, Korea, Geneva

Wegovy is a weekly injection that can help patients shed 15% of their weight alongside diet and exercise changes. Walgreens (WBA.O), one of the biggest U.S. pharmacies, is experiencing supply shortages for the higher strengths, spokesperson Erin Loverher confirmed. Doctors in six U.S. states told Reuters patients are reporting problems filling their prescriptions for the higher doses. Three of the doctors said supply delays at pharmacies had resulted in patients missing their Wegovy injections at the prescribed weekly interval. "Patients are often having to delay their injections because it's harder for pharmacies to get Wegovy in stock," he said.

Persons: Erin Loverher, Novo, Alicia Shelly, Shelly, Robert Kushner, Wegovy, Kushner, Denise Wells, Wells, Holly Lofton, New York University Langone, Disha Narang, Narang, Maggie Fick, Patrick Wingrove, Elissa Welle, Caroline Humer, Bill Berkrot Organizations: Reuters, Walgreens, Wellstar, Northwestern University's Feinberg School of Medicine, Amazon Pharmacy, New York University, Northwestern Medicine, Barclays Research, Novo, Thomson Locations: U.S, Danish, Georgia, Chicago, Michigan, Chicago , New York, San Francisco, Detroit, Atlanta, Charlottesville , Virginia, London, New York

☆ The American banking landscape is on the cusp of a seismic shift. Expect more pain to come
▼ + stars: | 2023-07-10 | by ( Hugh Son | ) www.cnbc.com time to read: +10 min

But even as the dust settles from a string of government seizures of failed midsized banks, the forces that sparked the regional banking crisis in March are still at play. What is coming will likely be the most significant shift in the American banking landscape since the 2008 financial crisis. JPMorgan shares are up 7.6% this year, while the KBW Regional Banking Index is down more than 20%. Some of those pressures will be visible as regional banks disclose second-quarter results this month. "The fundamental issue with the regional banking system is the underlying business model is under stress," said incoming Lazard CEO Peter Orszag.

Persons: Jamie Dimon, Brian Graham, Banks, KeyCorp, Matt O'Connor, Peter Orszag, SVB, Chris Wolfe, Wolfe, you've, You've, Goldman Sachs, Lazard's Orszag, Orszag, Janet Yellen, Sen, Elizabeth Warren, Klaros, Graham Organizations: First, JPMorgan, Silicon Valley Bank, CNBC, Klaros, Deutsche Bank, Federal Reserve Bank of New, Justice Department Locations: First Republic, Silicon Valley, SVB, KBW, Federal Reserve Bank of New York, Republic

☆ CNBC Daily Open: Jobs are still growing uncontrollably
▼ + stars: | 2023-07-07 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The ADP jobs report doesn't necessarily give a good estimate of the Department of Labor's jobs report. Worst days and plunging profitsU.S. stocks fell Thursday as traders grew concerned over what the scorching hot ADP jobs report means for interest rates. But there are six U.S.-listed Chinese stocks that Morgan Stanley says have the potential to rise dramatically — one's a chipmaker that can soar 80%.

Persons: Dow Jones, Korea's Kospi, Janet Yellen, Yellen, Morgan Stanley Organizations: CNBC, Department, Samsung Electronics, Reuters, Treasury, U.S ., Treasury Department, Economist Intelligence Unit Locations: Asia, Pacific, Hong Kong, China, Beijing, U.S, Japan, South Korea, Philippines, Taiwan

Circuit Court of Appeals "for review in the ordinary course and in advance of the 2024 congressional elections in Louisiana." Democrats have accused Republicans of exploiting state legislature majorities to draw electoral maps that dilute the clout of Black and other minority voters. The map was challenged by Black voters and civil rights groups in two lawsuits. The plaintiffs in court papers said that "stark racially polarized voting almost universally leads to the electoral defeat of Black-preferred candidates" in Louisiana. The Supreme Court in that ruling elected not to further roll back protections contained in the Voting Rights Act as it had done in two major decisions in the past decade.

Persons: Kyle Ardoin, Shelly Dick, Jon Bel Edwards, Black, Dick, Andrew Chung, Will Dunham Organizations: U.S . House, U.S, Supreme, Republican, Black, . House, Circuit, Republicans, Democratic, disenfranchising, The U.S, Thomson Locations: Louisiana, Alabama, Orleans, United States, Louisiana's, The, New York

☆ Oscars’ Best Picture Hopefuls Must Spend More Time in Theaters
▼ + stars: | 2023-06-21 | by ( Nicole Sperling | ) www.nytimes.com time to read: +1 min

In a move designed to signal Hollywood’s commitment to the moviegoing experience, the Academy of Motion Picture Arts and Sciences said on Wednesday that it would require an expanded theatrical release for films seeking to be eligible for a best picture nomination. The new eligibility rule is sure to affect how Netflix and other streaming services release films they consider to be Oscar worthy. And it could be an impediment to smaller distributors that lack the means to release films in cities across the United States. In 2022, “CODA” from Apple TV+ was the first film from a streaming service to win the best picture Oscar. Two of the 10 markets in the expanded release can be outside the United States if they are among the top 15 international theatrical markets.

Organizations: Academy of Motion Picture Arts, Sciences, Netflix, Apple Locations: United States, U.S, New York, Los Angeles, Chicago, Atlanta, San Francisco, Miami

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