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☆ Biden says 'cooperating fully' after classified papers found at his Wilmington home
▼ + stars: | 2023-01-12 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsBiden says 'cooperating fully' after classified papers found at his Wilmington homePostedU.S. President Joe Biden on Thursday (January 13) said his administration is 'cooperating fully' after a second set of classified documents from his time as vice president was found at a storage space in the garage of his home in Wilmington, Delaware.

☆ It took at least 48 days for Joe Biden to find and declare all the classified material at his residence and former office
▼ + stars: | 2023-01-12 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +6 min

President Joe Biden maintains he cooperated swiftly and completely in returning classified documents. December 20: Biden's personal counsel tells Lausch that an additional batch of documents was discovered in the garage of Biden's residence, in Delaware. Biden's personal counsel tells Lausch that an additional batch of documents was discovered in the garage of Biden's residence, in Delaware. January 12 (morning): Biden's personal counsel informs Lausch that an additional classified document was found at Biden's residence. Biden's personal counsel informs Lausch that an additional classified document was found at Biden's residence.

☆ Special counsel named to probe classified records found at Biden's private home and office
▼ + stars: | 2023-01-12 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

Attorney General Merrick Garland on Thursday appointed former federal prosecutor Robert Hur as special counsel to investigate the discovery of classified government records at the private home and office of President Joe Biden. A first batch of classified documents was found Nov. 2 by lawyers for the president in an office in a Washington think tank that Biden had used while a private citizen. The attorney general said that Lausch, who himself was appointed by Trump, last week recommended that he name a special counsel in the inquiry. "We have cooperated closely with the Justice Department throughout its review, and we will continue that cooperation with the Special Counsel," Sauber said. Garland in November appointed another former federal prosecutor, Jack Smith, as special counsel to oversee two criminal investigations of Trump.

☆ What we know about the Biden documents: A timeline
▼ + stars: | 2023-01-12 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +2 min

They inform the U.S. National Archives of their discovery, turn over the materials, and begin cooperating with the Archives and the Justice Department. NOV. 9, 2022The FBI begins an investigation to determine whether classified information was mishandled and whether any federal laws were broken. JAN. 5, 2023Lausch briefs Garland on the investigation and recommends the appointment of a special counsel. JAN. 9, 2023The White House discloses publicly that it discovered classified documents at Biden's temporary office at the University of Pennsylvania and says it is cooperating with investigators. Garland appoints Robert Hur, the former Trump-era U.S. attorney for the district of Maryland, as special counsel.

☆ FTX has recovered $5 billion worth of 'liquid' assets, lawyers say
▼ + stars: | 2023-01-11 | by ( Rohan Goswami | ) www.cnbc.com time to read: 1 min

John Ray, chief executive officer of FTX Cryptocurrency Derivatives Exchange, arrives at bankruptcy court in Wilmington, Delaware, US, on Tuesday, Nov. 22, 2022. FTX has recovered over $5 billion worth of liquid assets, including cash and digital assets, attorneys in Delaware bankruptcy court said during an FTX bankruptcy hearing Wednesday. The news comes after federal prosecutors announced plans to seize at least $500 million worth of FTX-connected assets as part of their ongoing prosecution of FTX co-founder Sam Bankman-Fried. The recovery will be a welcome boon to FTX customers after the crypto exchange imploded in November. FTX's new CEO, John J. Ray, previously attested that at least $8 billion of customer assets were unaccounted for in the "worst" case of corporate control he'd ever seen.

☆ Nearly 16 million Americans sign up for 2023 Obamacare plans
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: +1 min

[1/2] U.S. President-elect Joe Biden adjusts his face mask after during a news conference, where he discussed health care and the Affordable Care Act (Obamacare, at the theater serving as his transition headquarters in Wilmington, Delaware, U.S., November 10, 2020. REUTERS/Jonathan ErnstJan 11 (Reuters) - Nearly 16 million Americans have so far signed up for health insurance through the Affordable Care Act's marketplace, a 13% jump from a year earlier, according to the U.S. Department of Health and Human Services (HHS) on Wednesday. Enrollment for 2023 healthcare plans under the Affordable Care Act, also known as Obamacare, is open between Nov. 1 and Jan. 15. About 3.1 million people who have signed up for the plans are new enrollees, HHS said. Obamacare helps low and middle-income Americans who do not have access to affordable health insurance coverage through an employer.

The U.S. Commodities Futures Trading Commission has estimated missing customer funds at more than $8 billion. The affiliates -- LedgerX, Embed, FTX Japan and FTX Europe -- are relatively independent from the broader FTX group, and each has its own segregated customer accounts and separate management teams, according to FTX court filings. In part to preserve the value of its businesses, FTX also sought Dorsey's approval to keep secret 9 million FTX customer names. Dorsey allowed the names to remain under wraps for only three months, not six months as FTX wanted. In addition to customer funds lost, the collapse of the company has also likely wiped out equity investors.

☆ Tesla investors argue Musk can receive fair 'funding secured' trial in San Francisco
▼ + stars: | 2023-01-11 | by ( Tom Hals | Thomson Reuters | Award-Winning Reporter With More Than Two Decades Of Experience In International News | ) www.reuters.com time to read: +3 min

Videos of an audience booing Musk during a surprise appearance at a Dave Chappelle show in San Francisco in December were circulated online. Tesla moved its headquarters from the San Francisco area to Texas in 2021. Musk tweeted in August 2018 that he had "funding secured" to take Tesla private, sparking 10 days of volatile trading in its stock shares, bonds and options. Defendants, which also include Tesla and its board at the time, will make their case that Musk was not misleading investors in a material way. Additional reporting by Hyunjoo Jin in San Francisco Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Oil companies sue Los Angeles over ban on oil and gas drilling
▼ + stars: | 2023-01-11 | by ( Emma Newburger | ) www.cnbc.com time to read: +1 min

An oil company with a drilling operation in the Wilmington neighborhood of Los Angeles has filed a lawsuit against the city over its law to ban new wells and phase out all drilling within city limits. Warren Resources, which operates the 10-acre, oil-extraction site, filed a lawsuit on Tuesday in LA Superior Court seeking to stop the ordinance from taking effect. The company argued the city failed to conduct an adequate environmental review of the potential impacts of halting extraction. There are 26 oil and gas fields and more than 5,000 active and idle wells in LA, in areas like Wilmington, Harbor Gateway, downtown, West LA, South LA and the northwest San Fernando Valley. Ian Thompson, a spokesperson for the LA City Attorney's office, declined to comment on the lawsuit.

☆ Inflation is expected to have declined in December, but it may not be enough to stop the Fed
▼ + stars: | 2023-01-11 | by ( Patti Domm | In | ) www.cnbc.com time to read: +3 min

They also point to weaker-than-expected wage growth in December's jobs report, as well as other data that reflects lower inflation expectations. Inflation is rolling over, and the Fed is almost done raising interest rates," said Peter Boockvar, chief investment officer at Bleakley Financial Group. A basis point equals 0.01 of a percentage point. Rental market data shows a slowing in rates, but the CPI has not yet reflected it. "Everyone is familiar with the lag that it takes for the data to show up in the CPI," Tilley added.

☆ Bed Bath & Beyond is closing dozens of stores in 2023 — see the full list
▼ + stars: | 2023-01-10 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +10 min

Bed Bath & Beyond released an updated list of store closures set to take place by March. San Leandro: 15555 East 14th St., Suite 24015555 East 14th St., Suite 240 Burbank: 201 East Magnolia Blvd. ArterialKansas:Lawrence: 3106 S. Iowa St., Suite 2153106 S. Iowa St., Suite 215 Manhattan: 425 3rd PlaceKentucky:Elizabethtown: 1998 N. Dixie Ave.1998 N. Dixie Ave. New Hartford: 4805 Commercial Drive4805 Commercial Drive Kingston: 1187 Ulster Ave.1187 Ulster Ave. Plattsburgh: 73 Centre Drive, Suite 10073 Centre Drive, Suite 100 Farmingdale: 251 Airport Plaza Blvd. Wisconsin:Mequon: 11110 N. Port Washington RoadPuerto Rico:Bayamon: Plaza Del Sol, 725 West Main Ave.Do you work for Bed Bath & Beyond?

☆ U.S. judge says Celsius Network owns most customer crypto deposits
▼ + stars: | 2023-01-05 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

Jan 4 (Reuters) - A U.S. bankruptcy judge ruled on Wednesday that Celsius Network owns most of the cryptocurrency that customers deposited into its online platform, meaning most Celsius customers will be last in line for repayment in the crypto lender's bankruptcy. The ruling means that most Celsius customers will be lower priority than customers who held non-interest bearing accounts and other secured creditors. Celsius' terms of service made clear that the crypto lender took ownership of customer deposits into its interest-bearing Earn accounts, according to Glenn. That means that Earn customers will be treated as unsecured creditors in Celsius' bankruptcy, and they will be last in line for repayment after Celsius repays higher-priority debts. The ruling authorizes Celsius to sell approximately $18 million stablecoins that had been held in customers' Earn accounts.

[1/3] The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company's IPO in New York City, U.S., July 29, 2021. REUTERS/Andrew KellyJan 4 (Reuters) - U.S. prosecutors are in the process of seizing shares of Robinhood Markets Inc (HOOD.O) tied to Sam Bankman-Fried, who has been charged with fraud in the collapse of the FTX cryptocurrency exchange, a U.S. attorney told a judge on Wednesday. He said the Robinhood shares were subject to litigation and it was an "open question" about who owns them. The Robinhood stock, worth about $465 million at Wednesday's late afternoon price of $8.30 per share, is also being claimed by BlockFi Inc, another bankrupt crypto firm. BlockFi is suing Emergent in a bid to seize the Robinhood stock, which was pledged by Alameda as collateral to guarantee repayment of a loan made by BlockFi.

[1/3] The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company's IPO in New York City, U.S., July 29, 2021. The Department of Justice did not believe the 56 million shares of Robinhood, worth about $465 million, were property of a bankruptcy estate, U.S. attorney Seth Shapiro told U.S. Bankruptcy Judge John Dorsey, who is overseeing the FTX bankruptcy. Bankrupt crypto firm BlockFi, FTX and liquidators in Antigua have all laid claim to the Robinhood stock, along with Bankman-Fried. He said the Robinhood shares were subject to litigation and it was an "open question" about who owns them. BlockFi is suing Emergent in a bid to seize the Robinhood stock, which was pledged by Alameda as collateral to guarantee repayment of a loan made by BlockFi.

☆ The 10 biggest winners in the S&P 500 this year were led by an oil giant Warren Buffett owns. The top stocks saw a combined $357 billion increase in market value.
▼ + stars: | 2022-12-31 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Oil stocks dominated the S&P 500's top 10 winners this year as commodity prices spiked. These are the index's 10 best performing stocks in 2022, which added a combined $357 billion in market value. Buffett also owns a stake in Chevron, which was the 17th best S&P 500 performer in 2022 with a gain of about 50%. Combined, the top 10 performing S&P 500 stocks in 2022 added a total of $357 billion in market value. SchlumbergerThe exterior of a Schlumberger Corporation building is pictured in West Houston ReutersTicker: SLB2022 Return: 76.7%Market Value Gained: $33.5 billion5.

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But in a late Wednesday night court filing, a group of non-U.S. FTX customers who say they are owed $1.9 billion told U.S. Bankruptcy Judge John Dorsey that this case is different. FTX, once led by Sam Bankman-Fried, is also seeking an exception that would keep its customers' names secret. In October, for example, the judge overseeing Celsius Network's bankruptcy ruled that customer names must be revealed, but their addresses and email addresses could be kept secret. He has asked a committee representing all FTX creditors to weigh in. Lawyers for the official FTX creditors committee did not immediately respond to a request for comment on Thursday.

Dec 27 (Reuters) - FTX customers filed a class action lawsuit against the failed crypto exchange and its former top executives including Sam Bankman-Fried on Tuesday, seeking a declaration that the company's holdings of digital assets belong to customers. The proposed class, which wants to represent more than 1 million FTX customers in the United States and abroad, seeks a declaration that traceable customer assets are not FTX property. The customer class also wants the court to find specifically that property held at Alameda that is traceable to customers is not Alameda property, according to the complaint. The lawsuit seeks a declaration from the court that funds held in FTX U.S. accounts for U.S. customers and in FTX Trading accounts for non-U.S. customers or other traceable customer assets are not FTX property. If the court determines it is FTX property, then the customers seek a ruling that they have a priority right to repayment over other creditors.

Law firms Davis Polk & Wardwell LLP FollowDec 27 (Reuters) - Sam Bankman-Fried's criminal case over the collapse of his FTX cryptocurrency exchange has been reassigned to a judge recently known for handling defamation lawsuits against former U.S. President Donald Trump and a sexual abuse lawsuit against Britain's Prince Andrew. U.S. District Judge Lewis Kaplan replaces his colleague Ronnie Abrams, who recused herself on Friday after learning that the law firm Davis Polk & Wardwell, where her husband is a partner, advised FTX in 2021. Trump has sought the dismissal of both lawsuits, including a battery claim. Kaplan also recently oversaw Virginia Giuffre's civil lawsuit accusing Prince Andrew of sexually abusing her when she was 17 at the London home of Ghislaine Maxwell, the now-convicted former associate of late sex offender Jeffrey Epstein. Reporting by Tom Hals in Wilmington, Delaware and Jonathan Stempel in New York; Editing by Chizu Nomiyama and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Ellison and FTX co-founder Gary Wang both pleaded guilty and are cooperating with prosecutors as part of their plea agreements. Roos said Bankman-Fried carried out a "fraud of epic proportions" that led to the loss of billions of dollars of customer and investor funds. Bankman-Fried has acknowledged risk-management failures at FTX but said he does not believe he has criminal liability. A flurry of customer withdrawals in early November amid concerns about commingling of FTX funds with Alameda prompted FTX to declare bankruptcy on Nov. 11. Bankman-Fried was arrested in the capital Nassau on Dec. 12 and arrived in the United States on Wednesday after consenting to extradition.

☆ Alameda's ex-CEO tells judge she hid billions in loans to FTX execs
▼ + stars: | 2022-12-23 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +1 min

Companies Alameda Research FollowNEW YORK, Dec 23 (Reuters) - Sam Bankman-Fried and other FTX executives received billions of dollars in secret loans from the crypto mogul's Alameda Research, the hedge fund's former chief told a judge in her guilty plea for her role in the exchange's collapse. "We prepared certain quarterly balance sheets that concealed the extent of Alameda’s borrowing and the billions of dollars in loans that Alameda had made to FTX executives and to related parties," Ellison told U.S. District Judge Ronnie Abrams in Manhattan federal court, according to the transcript. Bankman-Fried has been accused of orchestrating an "epic" fraud that led to the loss of billions of dollars of customer and investor funds. He has acknowledged risk-management failures at FTX but said he does not believe he has criminal liability and he has not entered a plea. Reporting by Luc Cohen in New York Writing by Tom Hals in Wilmington, Del.

☆ Next few weeks and months could be choppy for stocks, says Wilmington Trust's Shue
▼ + stars: | 2022-12-23 | 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 EmailNext few weeks and months could be choppy for stocks, says Wilmington Trust's ShueRon Insana, Schroders North America senior advisor, and Meghan Shue, Wilmington Trust head of investment strategy, join 'Power Lunch' to discuss each experts thoughts on equity markets in 2023, what quality means to Shue and what would force the Federal Reserve to pivot from rate hikes.

☆ Take a look inside an abandoned 1990s Burger King store frozen in time after being left untouched in a Delaware mall
▼ + stars: | 2022-12-23 | by ( Grace Dean | ) www.businessinsider.com time to read: 1 min

This Burger King restaurant is hidden from the public behind a wall in Concord Mall in Wilmington, Delaware, that only staff can access with a key. Its decor gives a glimpse into what dining at the chain was like in the 1990s. Inside an abandoned Burger King in Concord Mall, Wilmington, Delaware Courtesy of Tom Dahlke

☆ Watch CNBC's full interview with Schroder's Ron Insana and Wilmington Trust's Meghan Shue
▼ + stars: | 2022-12-23 | 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 EmailWatch CNBC's full interview with Schroder's Ron Insana and Wilmington Trust's Meghan ShueRon Insana, Schroders North America senior advisor, and Meghan Shue, Wilmington Trust head of investment strategy, join 'Power Lunch' to discuss each experts thoughts on equity markets in 2023, what quality means to Shue and what would force the Federal Reserve to pivot from rate hikes.

While travel demand is roaring back, many hotels, airlines, cruise operators and airports are still racing to hire and train workers. That means the level of customer service will likely take a hit, industry experts say. One potential bright spot can be found at sea: During the summer, several cruise lines had to cancel voyages due to staffing shortages, but major disruptions have been largely resolved. “It’s highly unlikely your holiday cruise will be canceled due to lack of staffing,” said Colleen McDaniel, editor-in-chief of Cruise Critic, a Tripadvisor-run travel site. “This year, I moved my annual holiday travel to earlier in December,” said Abby Rhinehart, an educational researcher in Tucson, Arizona.

☆ FTX'S Bankman-Fried's lawyer departs courthouse in Bahamas - Reuters witness
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: 1 min

[1/2] Jerone Roberts, lawyer of founder and former CEO of crypto currency exchange FTX Sam Bankman-Fried, leaves the Magistrate Court building in Nassau, Bahamas December 20, 2022. REUTERS/Marco BelloDec 20 (Reuters) - A lawyer for Sam Bankman-Fried departed a court in the Bahamas on Tuesday and the founder of the failed FTX crypto exchange was not seen at the court, according to a Reuters witness, after a source said Bankman-Fried was prepared to return to the United States to face fraud charges. (This story has been refiled to fix the spelling of 'lawyer' in the first paragraph)Reporting by Tom Hals in Wilmington, DelawareOur Standards: The Thomson Reuters Trust Principles.

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