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☆ Mike Pence Testifies Before Jan. 6 Grand Jury Investigating Donald Trump
▼ + stars: | 2023-04-28 | by ( Sadie Gurman | C. Ryan Barber | ) www.wsj.com time to read: +1 min

Special counsel Jack Smith, who is overseeing the investigation into Donald Trump’s efforts to remain in power after the 2020 election, had subpoenaed former Vice President Mike Pence earlier this year. Photo: Allison Joyce/Agence France-Presse/Getty ImagesWASHINGTON—Former Vice President Mike Pence testified Thursday before the grand jury investigating former President Donald Trump’s efforts to remain in power after the 2020 election, according to a person familiar with the matter, a day after a federal appeals court rejected Mr. Trump’s bid to block that testimony on executive privilege grounds. Mr. Pence’s appearance behind closed doors is a significant development for special counsel Jack Smith in his ongoing investigation. The former vice president is a key witness for prosecutors because of his role as president of the Senate certifying the 2020 election results on Jan. 6, 2021. Prosecutors have also sought his testimony about conversations he had with Mr. Trump leading up to that day.

☆ The Fed’s autopsy report on Silicon Valley Bank is coming. Here’s what to expect
▼ + stars: | 2023-04-28 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

The Federal Reserve, which is responsible for supervising banks in the United States, plans to release its report at 11 a.m. Another federal regulator, the Federal Deposit Insurance Corporation, will release a similar report on Signature Bank, which fell two days after SVB, in the afternoon. Those assets began steadily losing value when the central bank raised interest rates at a rapid pace last year. As the bank stumbled, it became clear that virtually all — 97%, according to data from Wedbush Securities — of SVB’s deposits were uninsured. There are indications the Fed, SVB’s primary regulator, warned the bank as early as 2019 about its insufficient risk-management systems, according to reporting from the Wall Street Journal and the New York Times.

☆ Bombardier swings to profit on deliveries of pricier business jets
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

MONTREAL, April 27 (Reuters) - Bombardier Inc (BBDb.TO) swung to a first-quarter adjusted profit, helped by increased deliveries of its pricier planes, the business jet maker said on Thursday. Business jet makers are planning to deliver more planes this year, despite concerns over supply chain snarls, following a surge in demand to fly private during the COVID-19 pandemic. But analysts have reported softening business jet traffic in major markets compared with 2022 as fears of an economic downturn loom. Bombardier delivered 22 business jets during the quarter, up one from a year earlier. However the company delivered two more medium-sized and two more large-cabin business jets which command stronger pricing.

☆ Despite tough talk, Ron DeSantis can’t shake Disney’s grip on Florida
▼ + stars: | 2023-04-26 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

Although Disney has thwarted the state’s most aggressive efforts against it, Ron DeSantis has repeatedly promised he will win out in the end. In the governor’s effort to wrest control of Disney’s Orlando-area theme parks, he found that Disney’s corporate lawyers have routinely outmaneuvered him. “The question is, how much are you willing to hurt everybody else?”Legally, he says, DeSantis can’t single out Disney explicitly because retaliation against a single company is unconstitutional. To be sure, Disney’s parks division is a huge part of its business. In other words: Florida needs Disney more than Disney needs Florida.

☆ F1 braced for chaos as sprint season starts in Baku
▼ + stars: | 2023-04-26 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

April 26 (Reuters) - Formula One is braced for chaos on the streets of Baku this weekend as Azerbaijan hosts the first sprint race of the season and kicks off a run of five grands prix in six weeks. "It’s absolutely ludicrous to be doing the first sprint race of the year in a street race like Azerbaijan," Red Bull boss Christian Horner told reporters at the previous race in Australia. Verstappen won last year. "We are bringing a new floor to Baku amongst some other aerodynamic and mechanical items," said Alpine technical director Matt Harman. "We then have a further development at the following race in Miami and something further for Imola after that."

☆ Tucker Carlson’s departure won’t change Fox News
▼ + stars: | 2023-04-25 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

But if history is any guide, there’s one thing we can count on: Cutting Tucker Carlson loose is not a sign that Fox is ready to change its ways. He regularly brought fringe, racist talking points such as the “great replacement” conspiracy theory into the mainstream. The content on “Tucker Carlson Tonight” made “The O’Reilly Factor” look like “Leave It to Beaver.”That strategy wasn’t a new one for Fox. “There will be a new Tucker Carlson, and it’s a good bet he or she will be even worse,” wrote David A. Graham in The Atlantic. Tucker Carlson, left, and former President Donald Trump, talk while watching golf.

☆ Tucker Carlson is gone but Fox News' politics remain the same
▼ + stars: | 2023-04-25 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +9 min

CNN —Fox News had plenty of reasons to get rid of Tucker Carlson. CNN’s Allison Morrow notes that Fox will need a Carlson upgrade of some kind because upstart conservative networks want into the same space. ET hour on Fox, and if it is any indication, there won’t be much new in the politics that are pushed on Fox’s viewers. On-screen, the words were “Biden’s Legacy: Crime in the Cities.”Related: Here’s a CNN Fact Check on the crime in Manhattan, which far below record levels. Biden legacy 2After declaring crime to be Biden’s legacy, Kilmeade transitioned.

☆ These CEOs offer a master class in how to not read the room
▼ + stars: | 2023-04-20 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

Just this week, there have been two high-profile face-plants by company leaders who ostensibly wanted to inspire their staffs and wound up doing…the opposite of that. In a statement to CNN, Clearlink declined to address Clarke’s remarks in the video, though the company did not challenge its authenticity. And who could forget Better.com’s CEO laying off 900 people over Zoom? But I’d propose a simple mantra for executives when weighing in on unpopular topics like returning to the office or laying people off. (OK, most nights — we believe in a four-day work week around here.)

☆ CEO apologizes after ‘pity city’ speech backfires
▼ + stars: | 2023-04-20 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

New York CNN —The CEO whose “pity city” speech backfired spectacularly is now apologizing to her employees. “I feel terrible that my rallying cry seemed insensitive,” wrote Andi Owen, chief executive of office furniture giant MillerKnoll, in an email to staff Tuesday. “Don’t ask about ‘what are we going to do if we don’t get a bonus?’ Get the damn $26 million,” she said, citing an internal metric. Can I get some commitment for that?”She continued: “I had an old boss who said to me one time, ‘you can visit pity city but you can’t live there.’ So people: Leave pity city. The median employee income at MillerKnoll, the company behind sleek office furniture brands such as Herman Miller and Design Within Reach, was $44,810.

☆ Who won the Fox-Dominion case? Lawyers and an obscure private-equity fund
▼ + stars: | 2023-04-19 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

That remains true in the case of Fox News and Dominion Voting Systems, which averted a trial with an 11th-hour deal Tuesday. Money aside, Fox had to acknowledge the court’s ruling that “certain claims about Dominion” that Fox perpetuated on-air were in fact false. The Neutral-to-Positive Winner: Dominion Voting SystemsFor more than two years, Dominion spent untold amounts of money building a defamation case against one of the most popular TV networks on the planet. Davida Brook, left, Justin Nelson, second from left, and Stephen Shackelford, attorneys for Dominion Voting Systems, exit the New Castle County Courthouse in Wilmington, Delaware, on Tuesday. But for a company that’s valued somewhere between $30 million and $80 million, it’s quite a deal.

The Dallas-based carrier has blamed the hour-long outage on a vendor-supplied network firewall failure, causing a temporary loss of connection to key systems. Southwest told Reuters on Wednesday it opted to halt flights out of caution, adding there were no indications of a cyber attack. It declined to identify the vendor and did not address why this failure was not part of the company's planning. While the exact cause is not clear, some industry experts questioned why Southwest systems did not include more redundancy. Southwest was able to manually launch flights while SWIFT was down but decided to suspend departures at 8:27 a.m. CST.

☆ Netflix is winding down its DVD business after 25 years
▼ + stars: | 2023-04-18 | by ( Allison Morrow | ) edition.cnn.com time to read: 1 min

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☆ MillerKnoll boss tells staff who are worried about bonuses to 'leave Pity City'
▼ + stars: | 2023-04-18 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

New York CNN —One boss is learning the hard way how a pep talk can quickly go off the rails. Andi Owen, CEO of office furniture company MillerKnoll, was asked in a recent video town hall about how workers should stay motivated if they don’t get a bonus. Owen went on to admonish her staff to “leave Pity City,” when it comes to fretting about bonuses. Can I get some commitment for that?”She continued: “I had an old boss who said to me one time, ‘you can visit Pity City but you can’t live there.’ So people: Leave Pity City. MillerKnoll has not yet decided bonus payouts for staff, including Owen, as its fiscal year ends in May.

☆ Pilots at Canada's WestJet Airlines approve possible strike action
▼ + stars: | 2023-04-18 | by ( Allison Lampert | ) www.reuters.com time to read: +2 min

April 18 (Reuters) - WestJet Airlines pilots on Tuesday voted for possible strike action as early as May 16, underscoring broader efforts by North American pilots to make gains on salary and working conditions as traffic rises. Pilots at Onex Corp's (ONEX.TO) WestJet Group, Canada's second-largest carrier, could strike or be locked out if notice is given on May 13, union representative Bernard Lewall said. Participating pilots voted 93% in favor of strike authorization, said Lewall, chair of the local union with the Air Line Pilots Association (ALPA). Calgary-based WestJet said the carrier wants an agreement that is competitive within Canada's airline industry. Their union, the Allied Pilots Association, is also holding a strike authorization vote that concludes on April 30.

☆ Shaq is finally served in FTX investor suit, lawyers say
▼ + stars: | 2023-04-17 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

New York CNN —After months of attempting to serve Shaquille O’Neal in a lawsuit against celebrities who endorsed the now-bankrupt FTX crypto platform, lawyers for a group of FTX investors said they finally succeeded on Sunday. “Plaintiffs in the billion $ FTX class action case just served @SHAQ outside his house,” the Moskowitz Law Firm tweeted. O’Neal was the last of the celebrities in the class-action suit to be served a legal notice, according to court documents. FTX collapsed into bankruptcy on November 11 after depositors and investors yanked their money amid concerns about the platform’s balance sheet. Bankman-Fried, who was arrested in December and is out on house arrest, has pleaded not guilty to 13 counts of fraud and conspiracy.

☆ What the Boston Marathon Finish Line Means Now
▼ + stars: | 2023-04-15 | by ( Talya Minsberg | Matthew Futterman | ) www.nytimes.com time to read: +14 min

The Boston Marathon is arguably the most elusive finish line of all, and not just anyone can cross it. In 2013, on a cool, partly sunny day, this ebullient scene was shattered when two bombs exploded near the finish line. On Monday, nearly 30,000 runners will journey, down and up and down, toward the finish line of the 127th Boston Marathon. Volunteer, runner I used to volunteer at the finish line, reading information about runners as they finished for the announcer. It means something so different crossing that finish line compared to other marathon majors.

☆ Inside the Online Market for Overseas Abortion Pills
▼ + stars: | 2023-04-13 | by ( Allison Mccann | ) www.nytimes.com time to read: +17 min

A selection of abortion pill kits available online from overseas sellers. A chart of the estimated number of abortion pills provided outside the U.S. health care system from July through December 2022. For most patients, the cost of the service remains the most important factor in deciding where to get pills online. A chart showing the minimum, average and maximum cost of abortion pills from overseas providers: Aid Access, Las Libres and for-profit online sellers. A chart showing the minimum, average and maximum delivery speeds of abortion pills from overseas providers: Aid Access, Las Libres and for-profit online sellers.

Higher costs and a shortage of available new parts are also delaying aircraft repairs, which risk pushing up air fares. Some makers of brand-name parts like General Electric Co (GE.N) stand to benefit because they also sell used parts, known as used serviceable material. Honeywell Aerospace Trading (HON.O), the U.S. conglomerate's used parts business, is among companies enjoying higher demand since 2021. Ultimately, the alternatives to new parts may bring relief but a congested supply chain must be fixed, said Benjamin Hockenberg, president of JSSI Parts & Leasing. "Certain models, certain situations, (used parts) will fill the void, but I think we also need to see a repaired supply chain," said Hockenberg.

☆ JPMorgan ends remote work for senior bankers
▼ + stars: | 2023-04-12 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

New York CNN Business —America’s largest bank is ending pandemic-era hybrid work for its senior staff. “Our leaders play a critical role in reinforcing our culture and running our businesses,” JPMorgan Chase told staff in a memo. JPMorgan said it would maintain hybrid working options for thousands of employees who are required to have three days in the office. In the memo, the bank issued a warning to staffers who are struggling to hit that minimum. Another motivation for JPMorgan: A year ago, the bank unveiled a design for a new global headquarters in New York.

☆ Leaked Pentagon documents contain 'instructive' revelations on the Ukraine war: Harvard professor
▼ + stars: | 2023-04-11 | 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 EmailLeaked Pentagon documents contain 'instructive' revelations on the Ukraine war: Harvard professorGraham Allison of Harvard University says the leak suggests that "four times more Ukrainians are being killed by Russians than Russians are being killed by Ukrainians."

☆ Three major risks that have the banking industry on edge
▼ + stars: | 2023-04-10 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

The toll of the WFH eraCommercial real estate — offices, apartment complexes, warehouses and malls — has come under substantial pressure, my colleague Julia Horowitz reports. Commercial property valuations could fall by roughly 20% to 25% this year, according to Rich Hill, head of real estate strategy at Cohen & Steers. About $270 billion in commercial real estate loans held by banks will come due in 2023. The proportion of commercial office mortgages where borrowers are behind with payments is rising, according to Trepp, which provides data on commercial real estate, and high-profile defaults are making headlines. That might seem simplistic, but it’s especially relevant for an industry as uniquely reliant on trust as banking is.

☆ Lawmakers seek details on ‘unusually cozy’ ties between tech executives and SVB
▼ + stars: | 2023-04-10 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

New York CNN —Democratic lawmakers sent letters to 14 of the largest depositors at Silicon Valley Bank, seeking details about the lender’s “unusually cozy” relationships with its well-heeled clients. Silicon Valley Bank was known to cater to the tech startup world. But Warren and Ocasio-Cortez, citing media reports, raised concerns about whether the bank’s relationships went beyond industry standards and potentially hastened its collapse last month. SVB reportedly provided lower-interest-rate mortgages for tech start-up founders whom other banks wouldn’t lend to, according to the New York Times, while sponsoring industry ski trips, conferences, and fancy dinners, the lawmakers wrote. “Silicon Valley Bank’s unusually cozy relationship with its clients increased the threat of contagion when the bank went under,” said Senator Warren in a statement.

☆ CNN's Van Jones presses a GOP state lawmaker on the Tennessee House voting to expel 2 Black Democratic legislators over their push for gun restrictions: 'Why are you being so unreasonable?'
▼ + stars: | 2023-04-09 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Van Jones last week pressed a Tennessee Republican over his caucus voting to oust two Democratic lawmakers. "You have not done this to anybody except for two people in 200 years," Jones told state Rep. Jeremy Faison. The GOP-led state House took the action after then-Reps. Jones and Pearson led a gun reform protest from the floor. Faison said he felt as though House Republicans followed the proper protocol. State Rep. Gloria Johnson, a white lawmaker who also joined the gun reform protest, was not expelled by House Republicans and remarked last week that "it's pretty clear" why she was spared.

☆ As National Parks Visits Surge, Booz Allen Benefits
▼ + stars: | 2023-04-06 | by ( Allison Pohle | ) www.wsj.com time to read: 1 min

Visitors driving into Montana’s Glacier National Park this summer must buy a vehicle pass on Recreation.gov. The pass is free, but visitors pay a $2 fee to book the reservation. Visitors might assume that, like entrance fees, the reservation charges help pay for improving trails around the park’s Running Eagle Falls or expanding the park’s volunteer program. But a chunk of the money ends up with consulting firm Booz Allen Hamilton Inc.

☆ National Park Visits Are Surging, and One Firm Is Making Unexpected Millions
▼ + stars: | 2023-04-06 | by ( Allison Pohle | ) www.wsj.com time to read: 1 min

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