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New York CNN —Sam Bankman-Fried’s fate is now officially in the hands of a jury of his peers. Chief among those errors, according to his own testimony, was was not hiring a dedicated risk management team. “I made a number of small mistakes and a number of larger mistakes,” Bankman-Fried said on the stand last week. Although Bankman-Fried made mistakes, he never defrauded anyone, Cohen told jurors. “Poor risk management is not a crime.”Bankman-Fried’s parents, Barbara Fried and Joseph Bankman, were both in the courtroom again Thursday.
Persons: Sam Bankman, Lewis Kaplan, Kaplan, Fried, , They’ve, , Danielle Sassoon, Mark Cohen, Cohen, ” Cohen, Barbara Fried, Joseph Bankman, Bankman, — Sabrina Souza Organizations: New, New York CNN, Prosecutors, Alameda Research Locations: New York, Manhattan, FTX, Alameda
But the apparent role of AI in Microsoft’s recent amplification of bogus stories raises questions about the company’s public adoption of the nascent technology and for the journalism industry as a whole. The poll prompted criticism from Microsoft’s readers, “This has to be the most pathetic, disgusting poll I’ve ever seen,” one person wrote. “We had a really tight knit, super talented editorial team and we had all worked together for a long time,” Pfeuffer told CNN. “I don’t think people realize how many people use [MSN],” she told CNN. “It felt like I was standing in line at the grocery store reading a National Enquirer front page,” Kawar told CNN.
Persons: Joe Biden, Britain’s, Lilie James, James ’, Anna Bateson, , ” Bateson, Brad Smith, Bateson, , Brandon Hunter, “ Brandon Hunter, Dean Preston, Elon Musk, Pfeuffer, ” Pfeuffer, Biden, Joe Biden ”, Ferris, ” Kawar, he’s Organizations: CNN, Democratic Party, NBA, Microsoft, Guardian, MSN, Guardian Media Group, San Francisco, Microsoft Edge, Enquirer, Microsoft Microsoft, Google Locations: OpenAI, Sydney, Australia, Santa Monica , California
BT rises after quarterly earnings beat forecasts
  + stars: | 2023-11-02 | by ( ) www.cnbc.com   time to read: +1 min
A BT Group Plc logo on a EE/BT Group Plc store in London, UK, on Wednesday, May 17, 2023. BT Group, Britain's biggest broadband and mobile provider, posted a second quarter earnings beat and forecast annual cash flow at the top end of a range, lifting its shares in a parting boost for outgoing CEO Philip Jansen. Shares in BT jumped 5% in early deals, good news for Jansen who is due to step down early next year and has long said he has been disappointed by the group's stock performance. Her job will be to complete Jansen's multi-billion pound push into fibre networks and extending 5G networks, the cost of which has hit free cash flow and weighed on the share price. For the three months to the end of September, BT posted a 3% rise in adjusted core profit (EBITDA) to 2.06 billion pounds ($2.51 billion) beating the 2.03 billion pounds consensus forecast.
Persons: Philip Jansen, Jansen, Hargreaves, Matt Britzman, Allison Kirkby, Sweden's Organizations: BT, BT Group Plc, BT Group Locations: London
A defense lawyer's late afternoon snipe about a law clerk sparked drama at the Trump fraud trial. The blowup came when Trump lawyer Christopher Kise snarked "ask your law clerk first," to the judge. The temper-flaring, accusations, and judicial threats were sparked in the Manhattan courtroom by a wise-crack comment from Trump lawyer Christopher Kise, who was raising a routine objection during late-afternoon testimony by Eric Trump. AdvertisementAdvertisementHearing her referenced with derision yet again, the typically affable judge hit the figurative roof, as Eric Trump watched, blank-faced, from the witness stand. "If you keep referring to my principal law clerk, I will consider expanding the gag order to include you and your attorneys."
Persons: Trump, Christopher Kise snarked, , Christopher Kise, Eric Trump, Kise, Arthur Engoron, Engoron, Donald Trump, Allison Greenfield, Amer, Andrew Amer, Greenfield, he'd, Alina Habba, Letitia James, that's, who's, Chuck Schumer, he's, James — Organizations: Service, New, Trump, Trump Organization Locations: Manhattan, Greenfield
New York CNN —YouTube is implementing new safeguards that could help prevent the platform from sending teen users down potentially harmful content rabbit holes. The platform plans to limit repeated content recommendations for videos on certain topics, including content that idealizes certain body weights, James Beser, director of product management for YouTube Kids and Youth, said in a blog post Thursday. In 2021, lawmakers called out Instagram and YouTube for promoting accounts featuring content depicting extreme weight loss and dieting to young users. Earlier this year, YouTube rolled out changes to its policies on eating disorder content, adding prohibitions on certain types of videos on the topic and limiting others to be viewable by only adult users. The reminders will be set to pop up every hour as a default for teen users, although parents can update their frequency.
Persons: James Beser, ” Beser, ” Allison Briscoe, Smith, , YouTube’s, Organizations: New, New York CNN, YouTube, Families Locations: New York, United States
The furious rise in interest rates appears to be fueling a spike in trading for long-term bond products, even those focused on high quality Treasurys. While many long-term bond funds have seen recent inflows, the iShares 20+ Year Treasury Bond ETF (TLT) is extending its ETF market leadership position. The popularity of ARKK was a classic momentum trade, while bond funds have mostly been crushed over the past year. TLT YTD mountain Long-term bond funds like TLT have fallen sharply in 2023. Klingelhofer did say he was more interested in adding mid-term duration than long-term duration products, however.
Persons: Todd Sohn, ARKK, " Sohn, Sohn, Jeff Klingelhofer, Klingelhofer, Allison Bonds, it's, Bonds Organizations: Treasury Bond ETF, Innovation, CNBC, Thornburg Investment Management, State Street Global Advisors
The Battle Over Aid to Israel
  + stars: | 2023-11-01 | by ( Lulu Garcia-Navarro | Ian Stewart | Allison Benedikt | ) www.nytimes.com   time to read: 1 min
Allison Benedikt andThe battle over aid to Israel continues to heat up in Washington. While President Biden has proposed a $105 billion package that would distribute aid to Israel, Ukraine and other corners of the world, Mike Johnson, the newly-elected Republican House Speaker, has put forth a package that only addresses aid to Israel. Karoun Demirjian, a congressional correspondent in The Times’s Washington bureau, gives Lulu Garcia-Navarro an update on the state of the aid package, and describes the scene from a divided D.C. To help bring you the most up-to-date developments, we’ve begun “The Headlines: War Briefing,” where you’ll hear the latest from our correspondents on the ground every afternoon. Hosted by Lulu Garcia-Navarro.
Persons: Allison Benedikt, Biden, Mike Johnson, Karoun, Lulu Garcia, Navarro, we’ve Organizations: Republican, Speaker Locations: Israel, Washington, Ukraine, Times’s Washington
US Assistant Attorney Nicholas Roos presented the government’s view that Bankman-Fried is guilty of stealing money and engaging his business partners in a cover-up. The fraud, according to the government, was happening behind the scenes, while Bankman-Fried’s other firm, Alameda Research, was secretly siphoning money from customer deposits. “The answer is clear: He took the money, he knew it was wrong, he did it anyway,” Roos said. Repeatedly, Bankman-Fried told reporters, customers, investors and lawmakers that customer deposits were safe. As Roos spoke to the jury, Bankman-Fried kept his eyes trained on his laptop, occasionally typing and scrolling.
Persons: Sam Bankman, Nicholas Roos, Fried, Roos, , ’ Roos, , ” Roos, , Fried “, FTX, Joseph Bankman, Barbara Fried Organizations: New, New York CNN, Bankman, Alameda Research Locations: New York, FTX, Alameda
Technical head Elliott leaves Mercedes F1 team
  + stars: | 2023-10-31 | by ( ) www.reuters.com   time to read: +1 min
LONDON, Oct 31 (Reuters) - Former Formula One world champions Mercedes announced the surprise departure of chief technical officer (CTO) Mike Elliott on Tuesday only months after he took on the role in a job swap with James Allison. Elliott had been appointed technical director in July 2021, with Allison moving to the CTO role, but they switched positions last April after Mercedes made a slow start to the season following a difficult 2022. Red Bull have won the last three drivers' titles with Max Verstappen as well as the 2022 and 2023 constructors' championships. Mercedes said Elliott, who had been with the team for 11 years and through their record eight successive constructors' titles, had chosen to depart after developing a technical strategy for the future. "Mike is a fiercely intelligent technical brain and a great team-player; he has made a strong contribution not just to winning racing cars but also to building the culture of our team.
Persons: Mercedes, Mike Elliott, James Allison, Elliott, Allison, Red Bull, Max Verstappen, Lewis Hamilton, Bull's Sergio Perez, Mike, Toto Wolff, Alan Baldwin, Toby Davis Organizations: Briton, Thomson
New York CNN —Sam Bankman-Fried is back in court Tuesday for a fourth day of testimony as his federal fraud trial continues. Bankman-Fried testified that he attended a dinner with the island nation’s prime minister, alongside former US president Bill Clinton and former UK Prime Minister Tony Blair. In November last year, after FTX had frozen customer withdrawals amid a liquidity crunch, Bankman-Fried offered to open up withdrawals for all Bahamian customers. Bankman-Fried testified he did open those withdrawals “for a short period.”Bankman-Fried also testified that he doesn’t recall ever directing Alameda employees not to spend the FTX customer deposits. ‘Uninvolved’ in AlamedaMark Cohen, Bankman-Fried’s lead attorney, gave him a chance Tuesday morning to clarify some of his testimony regarding the relationship between FTX and Alameda.
Persons: Sam Bankman, Bankman, Fried, Danielle Sassoon, Bill Clinton, Tony Blair, FTX, , Alameda Mark Cohen, SBF, Organizations: New, New York CNN, Prosecutors, Alameda Research, Bankman, Bahamian, Alameda Locations: New York, Bahamas, Alameda, FTX
Low-cost airlines such as Norse Atlantic Airways and French Bee are advertising cheap trans-Atlantic flights, but with the summer season ending and international demand set to drop, will their low fare, low-margin approach withstand the winter? Illustration: George Downs/The Wall Street JournalThe new hot section on the plane isn’t at the very front. Not quite business class and definitely not coach, premium-economy cabins are hooking travelers willing to treat themselves to extra comfort for about double the price of a coach seat on some flights.
Persons: George Downs Organizations: Atlantic Airways, Street
US Assistant Attorney Danielle Sassoon is leading the government's cross-examination of FTX founder Sam Bankman-Fried. Sassoon was a law clerk to Justice Antonin Scalia, whom she said taught her "how to fire a pistol and a rifle, and made me feel like I had grit," she wrote in 2016. "He thickened my skin, which was the best preparation for a career in a male-dominated field." Sassoon received her law degree from Yale and has a bachelor's degree in History and Literature from Harvard.
Persons: Danielle Sassoon, Sam Bankman, Sassoon, Antonin Scalia Organizations: Yale, Harvard
Because spillover risk is concentrated in lower income countries in the tropical south, the cost of preventing another pandemic falls squarely on nations that can least afford it. To that end, federal and state officials say they are talking about ways to protect bat habitats in areas where spillover risk is high. Investigators still don’t know precisely how the virus jumped from bats to people in each of the four Kerala outbreaks dating back to 2018. BAT MAGNETS: Bananas and areca nuts grow on land that was home to the first patient who died in a recent Nipah outbreak in Kerala, India. The state would need to act to protect trees and bat roosts, they said.
Persons: Subrat Mohapatra, ” Mohapatra, coronaviruses, Bhupender Yadav, Veena George, , Nigel Sizer, Biden, Sizer, Pamela Hamamoto, Muhammad Ali, Pinarayi Vijayan, Sreehari Raman, “ I've, ” Raman, Kerala Agricultural University Dean P.O, Nameer, Sajith Kizhakkayil, , ” Vijayan, Unni Vengeri, Francisco Pérez, Sreekanth Sivadasan, Rupam Jain, Deborah J, Nelson, Ryan McNeill, Allison Martell, Sam Hart, Simon Newman, Janet Roberts, Feilding Organizations: World Health Organization, Reuters, WHO, Bank, Fund, European, European Union, BAT, Kerala Agricultural University, Research, United, Coalition, European Commission Locations: INDIA, India’s Kerala, India’s, Asia, Kerala, Kozhikode, Geneva, U.S, European, Malaysia, Bangladesh, India, United Nations, Maruthonkara, Changaroth, Kerala’s midland, Berlin
New York CNN —Prosecutors grilled former crypto king Sam Bankman-Fried on Monday as his criminal fraud trial entered its third week. The pace of withdrawals then increased further, with about $4 billion in net withdrawals the following day, or 100 times more than a typical day. A market downturn meant that assets associated with FTX’s sister company, the hedge fund Alameda Research, “declined massively in value,” he said. Ellison agreed Alameda should have been hedgedBankman-Fried on Monday recalled a conversation he had with Caroline Ellison, his ex-girlfriend and then-CEO of Alameda Research. “Do you recall saying FTX and Alameda acted separately?” Sassoon asked.
Persons: Sam Bankman, Bernie Madoff, , Fried, Judge Lewis Kaplan, Bankman, FTX, , SBF, Ellison, Caroline Ellison, Danielle Sassoon, ” Sassoon, “ I’m, Sassoon, ” SBF, What’s Organizations: New, New York CNN, Prosecutors, Alameda Research, , PR Locations: New York, Alameda, Alameda . Alameda
The standoff between the Biden administration and insurers underscores the challenges of fixing cracks in the U.S. mental-health-care system. Photo: Allison Bailey/Zuma PressMany consumers with insurance are forced to pay hundreds and even thousands of dollars a year on mental-health care despite a 15-year-old law that is supposed to make such treatment as affordable and accessible as any other type of medical care. Now the Biden administration wants to impose new requirements on insurers that it says would reduce out-of-pocket costs for mental-health care and substance-use-disorder treatment. The insurance industry is firing back, arguing the proposal would drive up prices and set impossible-to-meet standards.
Persons: Biden, Allison Bailey Organizations: Zuma Press Locations: U.S
Allison Chase was at a crossroads and venting to her father about the direction of her life at 26 years old. Ms. Chase’s brother and younger sister both have Type 1 diabetes and couldn’t fully partake in the sweeter side of the holiday. “Having fake limbs, body parts and fake blood being delivered by U.P.S. for my dad to open up and look through and having these Jell-O brain molds in the refrigerator — I thought that was normal,” she said. In 2017, Ms. Chase opened Madame Morbid with her ex-boyfriend Matt Zaller.
Persons: Allison Chase, Ms, Chase, Chase’s, Madame, Matt Zaller Locations: West Hartford, Conn
New York CNN —Former crypto billionaire Sam Bankman-Fried took the stand in front of a judge and jury last week in his criminal fraud trial. “I was kind of busy and lazy and didn’t bother getting a haircut for long periods of time,” Bankman-Fried said. Bankman-Fried is being accused of using this “back door” to transfer billions of dollars in FTX customer funds to Alameda. He initially thought FTX would failWhen Bankman-Fried and Gary Wang started FTX in 2019, there were already dozens of crypto exchanges. I’m not sure that I would quite answer yes to the question as you most recently phrased it.
Persons: Sam Bankman, Fried, , , we’ve, Caroline Ellison, Bankman, Mark Cohen, ” Cohen, Cohen, didn’t, FTX, Gary Wang, Binance, ” SBF, Lewis Kaplan, Kaplan interjected, Danielle Sassoon, I’m Organizations: New, New York CNN, Prosecutors, Alameda Research, Miami Heat, American Airlines, FTX, New Orleans Saints, Kansas City Chiefs, Kansas City Royals, Kaseya Locations: New York, Bahamas, Alameda, Kansas City, Bankman, FTX
A "crisps and caviar" snack kit from Pringles and The Caviar Co. While brand partnerships are a tried-and-true tactic to get attention, the marketing mashups of 2023 take it to a whole new level. Waning consumer attention spans and the escalating number of marketing messages have forced companies to find novel ways to break through. Beanstalk put together the partnership between Kellogg's Pringles brand and The Caviar Co. after noticing a trend on TikTok where users added a dollop of caviar on the chip. The three caviar kits, priced at $49, $110, and $140 — which include separate containers of Pringles and caviar — went viral on social media, with users posting videos of the kits and doing taste tests.
Persons: Tiffany, Burger King, Daniel Anderson, Allison Ames Organizations: Nike, Revlon, Stone Creamery, Kellogg's, Housewives, New Locations: New York
FTX founder Sam Bankman-Fried attends as FBI agent Marc Troiano testifies as Bankman-Fried faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, at federal court in New York City, today. Jane Rosenberg/ReutersMost days, Sam Bankman-Fried gets up around 4 am to prep for his defense. Breakfast at the Metropolitan Detention Center in Brooklyn, where he’s been held since August, is served at 6 am. Bankman-Fried is also “friendly” with Genaro García Luna, the former head of Mexico’s FBI, who is awaiting sentencing for drug trafficking, this person said. When his trial began earlier this month, observers quickly noted changes to Bankman-Fried’s appearance.
Persons: Sam Bankman, Fried, Marc Troiano, Jane Rosenberg, he’s, Genaro García Luna Organizations: Metropolitan Detention, Southern, of, MDC, CNN, FBI Locations: New York City, Brooklyn, of New York, Honduras
CNN —Britain’s health agency is warning the public not to buy pre-filled pens claiming to contain the weight loss drugs Ozempic and Saxenda without a prescription, after a small number of people were hospitalized. Ozempic is used to treat adults with type 2 diabetes, and is used off-label for weight loss. More than 350 potentially fake Ozempic pens have been seized since January of this year, according to the MHRA. The agency has also received reports that patients have obtained fake Saxenda pens in the UK through “through non-legitimate routes.”No fake weight-loss pens were seized before January 2023, the agency says. The maker of both drugs, Novo Nordisk, told CNN Thursday that it is aware that counterfeit pens are being circulated.
Persons: Ozempic, ” Allison Schneider, Dr, Sanjay Gupta, Alison Cave, ” Ozempic, , Meg Tirrell Organizations: CNN, Medicines, Healthcare, Agency, Novo Nordisk, , “ Novo Nordisk, General Pharmaceutical Council, Get CNN, CNN Health, European Medicines Agency, European Union Locations: Ozempic, “ Novo, Novo, Germany, Europe
“Out of concern for his safety, the unit requested that law enforcement be contacted,” said the spokesperson, Col. Richard Goldenberg. Card then spent a few weeks under evaluation at the hospital, the law enforcement officials said. The 40-year-old Card also threatened to shoot up a National Guard base in Maine, law enforcement officials previously told CNN. Card is a petroleum supply specialist in the Army Reserve and first enlisted in 2002, according to records provided by the Army on Thursday. Clifford Steeves of Massachusetts told CNN he knew Card when they served in the Army Reserve together, starting in the early 2000s until about a decade ago.
Persons: outdoorsman, Robert R, Camp Smith, , Richard Goldenberg, Card, Card’s, Katie O’Neill, ” O’Neill, Clifford Steeves, ” Steeves, “ It’s, , Steeves, Eric Gordon, Brittney Griner, Joe Biden, Dinesh D’Souza, Donald Trump Jr, Tucker Carlson Organizations: CNN, Army Reserve, Camp, Keller Army Community Hospital, United States Military Academy, National Guard, Richard Goldenberg . New York, Police, Card, Army, former Army Reserve, University of Maine, Public, Lewiston ., CNBC Locations: Maine, Lewiston , Maine, New York, Richard Goldenberg ., Massachusetts, Wisconsin , Georgia, Bowdoin , Maine, Lewiston, Lisbon , Maine
New York CNN —FTX founder and former CEO Sam Bankman-Fried has made a career out of risky bets that, for a while, paid off. Typically, defense attorneys advise their clients not to testify because it leaves them vulnerable to grilling by the prosecution. But at this point, Bankman-Fried doesn’t have much of a choice, legal experts say. Before his world came undone last year, Bankman-Fried was a rising star, even outside the insular world of crypto. It nonetheless helped to propel his star power and secure a $32 billion valuation for FTX.
Persons: New York CNN —, Sam Bankman, Fried, , Howard Fischer, Moses Singer, , ” Fischer, Cory Booker, Caroline Ellison, Mary, Organizations: New, New York CNN, Prosecutors, SEC Locations: New York
Trump's testimony in a gag order hearing at his NY fraud trial "rings hollow and untrue," the judge writes. In the order, Engoron says Trump gave testimony that "rings hollow and untrue" after being suddenly called to the witness stand on Wednesday. NY Courts/Insider"On October 3, on the record, I imposed on all parties to this action a very limited gag order," Engoron begins the order. This resulted in "a $5,000 nominal sanction against Donald Trump for the first-time violation of the gag order." Former attorney for former U.S. President Donald Trump, Michael Cohen, arrives to be deposed by Trump lawyers in New York, U.S. April 28, 2023.
Persons: Trump, , Donald Trump's, It's what's, Arthur Engoron, Engoron, Letitia James, — Trump, Wednesday's, Arthur Engron's, Donald Trump, Allison Greenfield, Arthur Engoron's, Michael Cohen, who'd, Michael Cohen –, Eduardo Munoz Organizations: Service, New York, Trump, NY, Oxford, REUTERS, New York Lawyers, Fund, Client Protection Locations: York, trier, New York, U.S
Former U.S. President Donald Trump attends the Trump Organization civil fraud trial, in New York State Supreme Court in the Manhattan borough of New York City, U.S., October 25, 2023. In that case, Trump is prohibited from publicly targeting Smith or potential witnesses, both of whom he has frequently referenced online and on the campaign trail. "He is a judge that found me GUILTY before the trial even started," Trump said of Engoron in his social media screed Thursday. Engoron fined Trump $5,000 in that instance and warned him that future violations would yield more severe sanctions, potentially including imprisonment. Former U.S. President Donald Trump attends the Trump Organization civil fraud trial, in New York State Supreme Court in the Manhattan borough of New York City, October 25, 2023.
Persons: Donald Trump, Trump's, Arthur Engoron, Trump, Jack Smith's, Joe Biden, Smith, Mark Meadows, Engoron, Judge Arthur F, Jane Rosenberg, Letitia James, Michael Cohen, James, Allison Greenfield Organizations: U.S, Trump Organization, Court, Reuters, Trump, White House, New, Former U.S, TRUMP, New York, New York Times, Democrat Locations: New York, Manhattan, New York City, U.S, York
Allison Pohle — Reporter at The Wall Street Journal
  + stars: | 2023-10-25 | by ( Allison Pohle | ) www.wsj.com   time to read: 1 min
Allison PohleAllison Pohle is a reporter covering travel for The Wall Street Journal. Before coming to the Journal, she worked as a producer/director for NPR's On Point, and as an education reporter for Boston.com.
Persons: Allison Pohle Allison Pohle Organizations: Wall Street
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