DIRS.INFO The most relevant business & tech news

☆ The U.S. economy is extremely resilient, says economist Betsey Stevenson
▼ + stars: | 2023-10-20 | 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 EmailThe U.S. economy is extremely resilient, says economist Betsey StevensonJoseph LaVorgna, SMBC Nikko Securities America chief economist, and Betsey Stevenson, professor of economics at the University of Michigan, join 'Squawk on the Street' to discuss where the Federal Reserve goes from here, their thoughts on the overall economy, and more.

Persons: Betsey Stevenson Joseph LaVorgna, Betsey Stevenson Organizations: Nikko Securities America, University of Michigan, Federal

☆ The fate of this consumer watchdog is in the hands of the Supreme Court
▼ + stars: | 2023-10-03 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +6 min

New York CNN —On Tuesday, the Supreme Court began hearing oral arguments in a case that will determine the fate of the Consumer Financial Protection Bureau. The Supreme Court will have the final say on that, however. The consumer watchdog agency was created after the 2008 financial crisis by way of the Dodd-Frank Wall Street Reform and Consumer Protection Act. If the Supreme Court finds the CFPB’s funding structure unconstitutional, it could shutter the agency and invalidate all of its prior rulings. From listening to the case on Tuesday, though, Lynyak believes the Supreme Court will rule that the CFPB’s funding structure is constitutional.

Persons: Dodd, Frank Wall, Democratic Sen, Elizabeth Warren, Ting Shen, Wells, Sam Gilford, ” There’s, Joseph Lynyak III, Lynyak, ”, Noel Francisco, Francisco, “, Sonia Sotomayor, Amy Coney Barrett Organizations: New, New York CNN, Supreme, Consumer Financial, Bureau, Community Financial Services Association of America, Appeals, Fifth Circuit, Frank Wall Street Reform, Consumer, Democratic, Harvard Law School, Federal Reserve, Bloomberg, Getty, “, Mortgage Bankers Association, National Association of Homebuilders, National Association of Realtors, Bank of America, Court, Federal Deposit Insurance Corporation, Congressional, CNN, Dorsey & Whitney, Republican Locations: New York, New Orleans, United States

☆ Something is breaking in financial markets — Here's what's behind the sell-off
▼ + stars: | 2023-10-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +7 min

Brendan McDermid | ReutersThat cracking sound in financial markets isn't the typical kind of break, where one asset class or another fractures and gives way. "The cost of capital is going up, companies are going to have to refinance at a higher rate." That sentiment was buttressed this week, when at least four central bank officials either endorsed hikes or indicated that higher rates would be staying in place for an extended period. Consumers, for one, are feeling the squeeze of higher rates on everything from mortgages to credit cards to personal loans. "Now, at some point, my guess is that markets will eventually get to cheap enough levels where you'll bring buyers in.

Persons: Brendan McDermid, Quincy Krosby, Krosby, Larry McDonald, Treasurys, McDonald, It's, Joseph LaVorgna, LaVorgna, Donald Trump, I've Organizations: New York Stock Exchange, Federal Reserve, Treasury, LPL, Labor Department, Wall, P Bank ETF, Congressional, Treasury Department, The, White House, National Economic Council, Nikko Securities Locations: New York City, Washington, U.S

☆ This is a ‘distorted environment’ for investors, warns fmr. White House economist Joe LaVorgna
▼ + stars: | 2023-09-18 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis is a ‘distorted environment’ for investors, warns fmr. White House economist Joe LaVorgnaJoseph LaVorgna, SMBC Nikko Securities America chief economist, joins 'Fast Money' to talk current market risks, the probability of a recession and more.

Persons: fmr, Joe LaVorgna Joseph LaVorgna Organizations: Nikko Securities America

☆ Ethereum co-founder says 'clear heads will prevail' in the SEC's legal battles with crypto firms
▼ + stars: | 2023-09-14 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

The co-founder of Ethereum, Joseph Lubin, said "clear heads will prevail" as the U.S. Securities and Exchange Commission continues to dispute with crypto firms in court over whether crypto tokens are considered securities. "I anticipate that, with previous technologies like the internet, the web and cryptography, clear heads will prevail," Lubin told CNBC's "Capital Connection" on Thursday. Crypto firms such as Binance, Coinbase and Ripple are fighting lawsuits with the SEC, which has accused them of law violations. The SEC sued Ripple and its co-founders in 2020 of violating securities laws by selling its native cryptocurrency XRP without first registering it with the SEC. In the same month, Binance was charged for several securities law violations.

Persons: Ethereum, Joseph Lubin, Lubin, CNBC's, Binance Organizations: U.S . Securities, Exchange Commission, ConsenSys, SEC Locations: America

☆ Ethereum co-founder discusses regulations in the crypto industry
▼ + stars: | 2023-09-14 | 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 EmailEthereum co-founder discusses regulations in the crypto industryJoseph Lubin, co-founder of Ethereum and CEO of ConsenSys, also discusses ether's role as a commodity.

Persons: Joseph Lubin

☆ A month after deadly Maui fire, 66 people still missing
▼ + stars: | 2023-09-08 | by ( Jonathan Allen | ) www.reuters.com time to read: +4 min

Only 60 of those victims had been identified as of Thursday, according to the Maui Police Department. Tim Laborte's stepfather, Joseph Lara, was killed in the fire, his body found a short drive from Lara's house in his native Lahaina. [1/3]A Combined Joint Task Force 50 (CJTF-50) search, rescue and recovery member conducts search operations of areas damaged by Maui wildfires in Lahaina, Hawaii, U.S. August 15, 2023. "The people of Maui must have as much time as they need to heal and recover and will begin to rebuild only when they are ready," Green said. "I want to emphasize this again: The land in the Lahaina is reserved for its people as they return and rebuild."

Persons: Josh Green, Tim Laborte's, Joseph Lara, Laborte, Matthew A, Foster, Handout, Green, Jonathan Allen, Stephen Coates Organizations: Maui Police Department, Officials, Force, U.S . Army National Guard, Staff, REUTERS, Hawaii's Department of Health, Environmental Protection Agency, U.S . Army Corps of Engineers, Federal Emergency Management Agency, Thomson Locations: Maui, Hawaii, Lahaina, Lahaina , Hawaii, U.S, Hawaiian, New York

☆ A Month After Deadly Maui Fire, 66 People Still Missing
▼ + stars: | 2023-09-08 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +3 min

Only 60 of those victims had been identified as of Thursday, according to the Maui Police Department. Tim Laborte's stepfather, Joseph Lara, was killed in the fire, his body found a short drive from Lara's house in his native Lahaina. Hawaii's Department of Health, which issues death certificates in the state, did not respond to questions about how officials are certifying the fire's victims. "The people of Maui must have as much time as they need to heal and recover and will begin to rebuild only when they are ready," Green said. "I want to emphasize this again: The land in the Lahaina is reserved for its people as they return and rebuild."

Persons: Jonathan Allen, Josh Green, Tim Laborte's, Joseph Lara, Laborte, Green, Stephen Coates Organizations: Reuters, Maui Police Department, Officials, Hawaii's Department of Health, Environmental Protection Agency, U.S . Army Corps of Engineers, Federal Emergency Management Agency Locations: Maui, Hawaii, Lahaina, U.S, Hawaiian, New York

Fed Chair Jerome Powell was almost brusque in his re-statement of the central bank's anti-inflation commitment at the annual Jackson Hole symposium on Friday. Tracking that rather than more-skittish policy rate futures would have proved a better guide to how subsequent months panned out and to the summer doldrums in bonds and stocks. And yet the September meeting could still be the 'big reveal' as it sees publication of the Fed's updated 'dot plot' that will likely show just where they then see the cycle crest. San Francisco Fed chart on dispersion of Fed rate projections by horizonSan Francisco Fed index of Fed uncertaintyACCIDENT OR DESIGN? As to whether the Fed is guiding everyone to safe and happy place, there continues to be sceptics about the 'soft landing'.

Persons: Jerome Powell, Jackson, that's, it's, Andrew Foerster, Zinnia Martinez, Bruce Kasman, Joseph Lupton Organizations: Federal, Reuters Graphics Reuters, Atlanta, San Francisco Fed, San, Fed, San Francisco, JPMorgan, Reuters, Thomson Locations: U.S, synch, San Francisco Fed

All of these were ways to find meaning and solace in three lives snuffed out in an all-too-familiar American story that began with an angry man with an AR-15. But coming on the 60th Anniversary of Martin Luther King Jr.’s March on Washington and his “I have a dream” speech, it was hard for some not to see a larger context as well in the lives lost in Saturday’s shooting in Jacksonville, Fla. His life was marked by “resilience and positivity, even in the face of adversity,” his brother, Quantavious Laguerre, wrote online. never had a record, never received a referral in school and never got into a fight,” Quantavious Laguerre wrote on a GoFundMe page. “He was a kindhearted and gentle soul who loved playing video games and supporting his family and friends.”Ms. Carr and Mr. Gallion both lived lives shaped by their church and family.

Persons: Anolt Joseph Laguerre Jr, William M, Angela Michelle Carr, Martin Luther King Jr, ’, David W, Saint Stephen, “ Dr, Martin Luther King, Laguerre, ”, Quantavious Laguerre, “, ” “ A.J, ” Quantavious Laguerre, ” Ms, Carr, Gallion Organizations: Raines High, Saint Stephen A.M.E, Lincoln, America Locations: Asia, Washington, Jacksonville, Fla, New

A few months before he was elected mayor of New York City, Eric Adams was feted at a $1,000-a-head fund-raiser at Russo’s on the Bay, a plush wedding venue overlooking the water in Howard Beach, Queens. Among the hosts was Eric Ulrich, a city councilman whom Mr. Adams would eventually appoint as buildings commissioner. In addition to Mr. Ulrich, those facing indictment include Anthony and Joseph Livreri, who own a Queens pizzeria that has drawn the attention of prosecutors investigating gambling and organized crime activity. The Livreris were also hosts of the fund-raiser, as was Michael Mazzio, a towing-company operator and friend of Mr. Ulrich’s who is also under investigation. Law enforcement officials had previously identified Mr. Mazzio and the Livreri brothers as having connections to organized crime.

Persons: Eric Adams, Eric Ulrich, Adams, Ulrich, Anthony, Joseph Livreri, Michael Mazzio, Mr, Ulrich’s, Mazzio Locations: New York City, Russo’s, Howard Beach , Queens, Manhattan, Queens

☆ Market reactions to Powell speech
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +8 min

"It is the Fed's job to bring inflation down to our 2% goal, and we will do so," Powell said. "August has been a difficult month for the market, so it is hungry for news that will help reverse the trend. Investors are hanging on to every word, but the main takeaway is that Powell signaled that the Fed would raise rates if needed. Rather than last year's short but brutal speech, Powell opted for a longer and calmer speech. KARL SCHAMOTTA, CHIEF MARKET STRATEGIST, CORPAY, TORONTO"On balance, this is a modestly less hawkish speech than markets had feared.

Persons: Jerome Powell, Powell, CHRISTOPHER HODGE, MICHAEL GREEN, ANDRE BAKHOS, CARSTEN BRZESKI, Ann Saphir, Christine, Lagarde, ” JOSEPH LAVORGNA, “, ” STUART COLE, ” QUINCY KROSBY, there's, DAVID WAGNER, Jackson, BRIAN JACOBSEN, patting, KARL SCHAMOTTA, Bernanke, Draghi Organizations: U.S . Federal, Federal, NFP, Fed, ING, Kansas City, REUTERS, CHIEF, CPI, Global Finance, Markets, Thomson Locations: U.S, JERSEY, FRANKFURT, Kansas, Jackson Hole , Wyoming, NIKKO, LONDON, CHARLOTTE, NORTH CAROLINA, CINCINNATI , OHIO, WISCONSIN, TORONTO

☆ Powell's pivotal speech Friday could see a marked shift from what he's done in the past
▼ + stars: | 2023-08-24 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

"I just think he's going to play it about as down the middle as possible," said Joseph LaVorgna, chief economist at SMBC Nikko Securities America. "He's got to strike that chord that the Fed is going to finish the job. "He's going to want to be a little more hawkish than neutral. But he's not going to deliver what he delivered last year. A Cleveland Fed inflation tracker anticipates August's figures will show a noticeable jump.

Persons: Jerome Powell, Powell, Win Mcnamee, Joseph LaVorgna, circumspect, LaVorgna, Donald Trump, He's, It's, Quincy Krosby, he's, Inflation's, Krosby, Patrick Harker, you've, Harker, CNBC's Steve Liesman, Jackson Organizations: Financial, Federal, Getty, Federal Reserve, Nikko Securities America, Research, National Economic Council, LPL, Cleveland, San Francisco Fed, Philadelphia Fed Locations: Washington , DC, circumspect Powell

☆ Hope is tested as search drags on for people missing in Maui fires
▼ + stars: | 2023-08-21 | by ( Jonathan Allen | ) www.reuters.com time to read: +4 min

[1/4] A view of a 'MISSING' flier featuring a photo of Joseph Lara, 86, who is missing since the Maui Fire raged through Lahaina, in Hawaii, U.S., August 20, 2023. Laborte asked at a volunteer-run aid distribution site in a park near Lahaina, which lies in blackened ruins. Hawaiian authorities have confirmed that the Aug. 8 fires killed at least 114 people on the island. So had another person listed on the whiteboard: Toni Molina, whom Hiraga had known since childhood. "He's about 86," said Laborte, who had flown in from Oʻahu to join relatives in the search for Lara.

Persons: Joseph Lara, Liliana Salgado, Tim Laborte, Laborte, Leslie Hiraga, Toni Molina, Hiraga, Molina, Lara, Jonathan Allen, Colleen Jenkins, Clarence Fernandez Organizations: REUTERS, Thomson Locations: Maui, Lahaina, Hawaii, U.S, HONOKOWAI, Napili, Lara, Oʻahu

☆ Australian aircrew identified after military helicopter crash
▼ + stars: | 2023-07-30 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, July 30 (Reuters) - Australia's army chief on Sunday released the names of four aircrew feared killed when an Australian Defence Force helicopter crashed into the ocean off the coast of Queensland. Defence Minister Richard Marles told reporters in Townsville, Queensland, a full investigation would take place into the crash. Ministerial (AUSMIN) dialogue between U.S. Secretary of State Antony Blinken and Defence Secretary Lloyd Austin and their Australian counterparts in Queensland state. "My thoughts are with the four Australians who were involved in the helicopter crash," Lloyd said in Townsville, addressing troops participating in Talisman Sabre. The joint military exercises - temporarily paused amid the search for the missing aircrew - have now resumed.

Persons: General Simon Stuart, Daniel Lyon, Maxwell Nugent, Joseph Laycock, Corporal Alexander Naggs, Stuart, Richard Marles, Antony Blinken, Lloyd Austin, Lloyd, Sam McKeith, Lincoln Organizations: SYDNEY, Sunday, Australian Defence Force, Talisman Sabre, Army's 6th Aviation, Defence, . Ministerial, Australian, Thomson Locations: Queensland, United States, Australia, Hamilton, Brisbane, Sydney, Townsville , Queensland, Townsville

☆ Rally setback: Top economist Joe LaVorgna sees key inflection point ahead
▼ + stars: | 2023-07-27 | by ( Melissa Lee | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRally setback: Top economist Joe LaVorgna sees key inflection point aheadJoseph LaVorgna, SMBC Nikko Securities America Chief Economist, joins 'Fast Money' to help make sense of market moves with the economy, Fed, GDP and markets. With CNBC's Melissa Lee and the FM Traders.

Persons: Joe LaVorgna, Joseph LaVorgna, Melissa Lee Organizations: Nikko Securities America, FM Traders

☆ Most COVID deaths in Florida happened after vaccines were readily available: NYT
▼ + stars: | 2023-07-25 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Ron DeSantis was an early proponent of the COVID vaccine, urging the elderly to get the shot. A New York Times report this week suggests a spike in Florida Covid deaths in July 2021 could be related. Florida made up 14% of deaths between July and October 2021, despite representing less than 7% of the country, according to The Times. But local officials in Florida told The Times that DeSantis' public shift on vaccines was notable. But DeSantis' vaccine pivots are worth reckoning with, Dan Gelber, the Democratic mayor of Miami Beach, told The Times.

Persons: Ron DeSantis, DeSantis, —, Dr, Joseph Ladapo, Floridians, Alina Alonso, Dan Gelber, " Gelber Organizations: New York Times, Service, Times, Democratic, The Times, Republican, Florida, Palm, Miami Beach Locations: Florida, Wall, Silicon, Palm Beach County

☆ Few patients continue weight loss drugs like Wegovy after a year — but health costs soar for all
▼ + stars: | 2023-07-11 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, March 31, 2023. And a group of patients in the analysis who didn't take a weight loss drug saw their health-care costs decrease by 4% on average during the same time period. Weight loss drugs are also known as GLP-1 agonists, which mimic a hormone produced in the gut to suppress a person's appetite. Prime Therapeutics' analysis does not indicate why patients stopped taking weight loss drugs. But experts say the medicines may further perpetuate a dangerous diet culture that idealizes weight loss and thinness.

Persons: Joseph Leach, Eli Lilly, Elon Musk Organizations: Novo Nordisk, CNBC, Prime Therapeutics, Food and Drug Administration, Therapeutics, Reuters, Pfizer, National Institutes of Health Locations: Chicago , Illinois, U.S, Danish

☆ Recession worries are likely to carry over into the second half of 2023
▼ + stars: | 2023-07-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +7 min

LaVorgna is in the camp that says it will be difficult if not impossible for the U.S. to avoid at least a modest period of negative growth in the second half. "The only way we won't have a deep recession is if the Fed has the courage to ease very quickly." "The second half will be difficult. And if history is any guide, the strength that has marked the first half of the year likely will carry over into the second half. In years when the index gained more than 10% in the first half, the second half usually sees double the normal second-half return, according to CFRA.

Persons: Joseph LaVorgna, Trump, LaVorgna, That's, Mark Zandi, Zandi, hasn't, CFRA, Sam Stovall, Ian Shepherdson, Shepherdson Organizations: Federal, Nikko Securities America, Fed, Market Committee, Atlanta, Moody's, University of Michigan, Treasury, Pantheon Locations: U.S, nonfarm payrolls, Friday's

LONDON, June 30 (Reuters) - The economic pain of higher interest rates seems duller than many had braced for only late last year - and subdued household debt burdens may be at least partly responsible. More interest rate sensitive countries with more flexible loan rates - such at Canada, Australia and Sweden - are already turning higher. What's more, the overall impact of higher borrowing rates is partly offset by rising interest rates on savings. And so net of interest income, JPMorgan points out, interest costs are up only 0.2 percentage point of disposable personal income since the start of the Fed hiking cycle early last year. Higher costs are still coming with a lag for many and will drag on the economies further from here.

Persons: Jerome Powell, JPMorgan's Joseph Lupton, Maia Crook, Lupton, Crook, it's, Mike Dolan, Alison Williams Organizations: Federal Reserve, JPMorgan, Reuters, Twitter, Thomson Locations: Canada, Australia, Sweden, Britain, Central

☆ Ethereum co-founder says crypto crash in 2022 helped clean out 'CeFi rot' in industry
▼ + stars: | 2023-06-28 | 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 EmailEthereum co-founder says crypto crash in 2022 helped clean out 'CeFi rot' in industryWhile the 2022 crash caused "a lot of harm," Ethereum's co-founder Joseph Lubin said it also helped draw attention to underlying issues in the crypto industry as well as new technological developments.

Persons: Ethereum's, Joseph Lubin

LONDON, June 28 (Reuters) - Western central banks have been warned this week not to quit in the final lap of their monetary tightening campaign - the hard yards households and financial markets may now find exhausting. And yet, desperate for their members not to declare premature victory in getting inflation back to 2% targets or sow an assumption above-target inflation will eventually be tolerated, central bank watchdogs are cheerleading a last push. But that's not in forecasts this time around - with U.S. and UK headline inflation rates not back to target by the end of next year and the euro zone not even by then. 'Last Mile' of disinflationBIS chart on speed of disinflation'UNCOMFORTABLE TRUTHS'And the BIS message was echoed by the International Monetary Fund (IMF) on Monday. "Monetary policy should continue to tighten and then remain in restrictive territory until core inflation is on a clear downward path," she said.

Persons: that's, Gita Gopinath, Christine Lagarde, Lagarde, Jerome Powell's, John Williams, Williams, Joseph Little, Mike Dolan, Mark Potter Organizations: Bank for International Settlements, BIS, for Economic Cooperation, International Monetary Fund, Bank's, IMF, ECB, U.S . Federal Reserve, New York Fed, U.S, Bank of England, Global, HSBC Asset Management, Reuters, Twitter, Thomson Locations: Ukraine, Portugal

☆ A U.S. recession is coming this year, HSBC warns — with Europe to follow in 2024
▼ + stars: | 2023-06-27 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Hong Kong observation wheel, and the Hong Kong and Shanghai Bank, HSBC building, Victoria harbor, Hong Kong, China. Ucg | Universal Images Group | Getty ImagesThe U.S. will enter a downturn in the fourth quarter, followed by a "year of contraction and a European recession in 2024," according to HSBC Asset Management. "The coming recession scenario will be more like the early 1990s recession, with our central scenario being a 1-2% drawdown in GDP," Little added. HSBC expects the recession in Western economies to result in a "difficult, choppy outlook for markets" for two reasons. HSBC remains overweight on Chinese stocks for this reason, and Little said the "diversification of Chinese equities shouldn't be underestimated."

Persons: Joseph Little, Little, HSBC's Little Organizations: Shanghai Bank, HSBC, Ucg, Getty, HSBC Asset Management, Global, CNBC, U.S . Federal Reserve, European Central Bank, Bank of England, Fed Locations: Hong, Hong Kong, Victoria, China, Europe, India

☆ Bank of England surprises with 50 basis point rate hike to tackle persistent inflation
▼ + stars: | 2023-06-22 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

A passageway near the Bank of England (BOE) in the City of London, U.K., on Thursday, March 18, 2021. Hollie Adams | Bloomberg | Getty ImagesLONDON — The Bank of England on Thursday surprised markets with a 50 basis point hike to interest rates, its 13th consecutive increase as policymakers grapple with persistently high inflation. The Monetary Policy Committee voted 7-2 in favor of the half percentage point increase, which takes the bank's base rate to 5%. The move defied market expectations, which had priced in around a 60% chance of a 25 basis point hike. The MPC said that the high number of fixed-rate mortgages means that the full impact of the increase in the Bank Rate so far "will not be felt for some time."

Persons: BOE, Hollie Adams, Sterling, —, we've, Andrew Bailey, Joseph Little, Little Organizations: Bank of England, City of, Bloomberg, Getty, Monetary, MPC, Bank, HSBC Asset Management Locations: City, City of London

☆ Analysis: Titanic sub victims' families could still sue despite liability waivers
▼ + stars: | 2023-06-22 | by ( Jack Queen | ) www.reuters.com time to read: +4 min

June 22 (Reuters) - Liability waivers signed by passengers on a submersible lost at sea during a dive to the Titanic wreck may not shield the vessel's owner from potential lawsuits by the victims' families, legal experts said. The Titan submersible vanished on Sunday roughly two hours into its dive and was found in pieces on the ocean floor after what the U.S. Coast Guard said on Thursday was a "catastrophic implosion" of its pressure chamber. The passengers, who paid as much as $250,000 each for the journey to 12,500 feet (3,810 meters) below the surface, are believed to have signed liability waivers. If OceanGate were to fail in such a case, families would be free to file negligence or wrongful death lawsuits. Reporting by Jack Queen; Editing by Amy Stevens and Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: OceanGate, ”, Matthew D, Shaffer, Joseph Low of, David Lochridge, Jack Queen, Amy Stevens, Daniel Wallis Organizations: U.S . Coast Guard, CBS, OceanGate Expeditions, Reuters, American Bureau of Shipping, Thomson Locations: Texas, Joseph Low of California, Everett , Washington, Washington

Search resuls for: "Joseph L"

25 mentions found