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☆ The Chinese spy balloon shot down by the US military was rife with off-the-shelf, American-made technology: reports
▼ + stars: | 2023-06-30 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +3 min

The Chinese spy balloon that flew over the United States was reportedly loaded with American tech. That technology assisted in the gathering of photos and videos, The Wall Street Journal reported. The balloon was shot down off the coast of South Carolina by the US military earlier this year. The Pentagon said on Thursday, however, that the Chinese balloon did not collect information as it flew across the country. Chinese officials have admitted the downed balloon belonged to China but have repeatedly insisted it was a weather balloon that blew off course.

Persons: —, Biden, Patrick Ryder, majeure, Mao Ning Organizations: Street Journal, Service, FBI, NBC, US Air Force, US, Wall Street Journal, Pentagon, CNN, Foreign Ministry Locations: United States, South Carolina, Alaska, Canada, Beijing, China

☆ Corruption inquiry in Australia's NSW state uncovers China links to lawmaker
▼ + stars: | 2023-06-29 | by ( Kirsty Needham | ) www.reuters.com time to read: +2 min

SYDNEY, June 29 (Reuters) - The former premier of Australia's most populous state engaged in corrupt conduct involving another lawmaker with whom she was in a secret romantic relationship, a years-long corruption inquiry that examined business dealings with China said on Thursday. Maguire told the inquiry he had received envelopes full of thousands of dollars in cash at his parliament office as part of a scheme for Chinese nationals to fraudulently acquire visas. The commission found Maguire engaged in "serious corrupt conduct" between 2012 and 2018 for the migration scheme and other misconduct. Maguire also misused his office by receiving a fee to introduce the party secretary of Liaoning province in China to then NSW premier Barry O'Farrell at parliament in 2012, it said. The commission said it would seek advice from the Director of Public Prosecutions on whether further prosecutions should be commenced into Maguire.

Persons: Gladys Berejiklian, Daryl Maguire, Maguire, Berejiklian, Barry O'Farrell, Kirsty Needham, Stephen Coates Organizations: SYDNEY, New South Wales Independent, Corruption, NSW, Liberal, NSW Parliament's, Pacific Friendship Group, Public, Maguire, Thomson Locations: Australia's, China, New, Berejiklian, Shenzhen, South Pacific, Australia, Beijing, Sydney, Liaoning

June 29 (Reuters) - The U.S. Supreme Court on Thursday struck down race-conscious admissions policies at Harvard University and the University of North Carolina, a practice called affirmative action employed by a majority of selective schools. Harvard was sued in 2014 by anti-affirmative action group Students for Fair Admissions, which accused Harvard of unlawful discrimination against Asian American applicants in its admissions practices. UNIVERSITY OF NORTH CAROLINAThe University of North Carolina at Chapel Hill is a prestigious public research university. Students for Fair Admissions sued UNC in 2014, alleging that the Chapel Hill campus unlawfully discriminated against white and Asian American applicants. STUDENTS FOR FAIR ADMISSIONSStudents for Fair Admissions is a nonprofit organization founded in 2014 by conservative activist Edward Blum, who has waged a legal war against affirmative action policies.

Persons: Harvard, Edward Blum, EDWARD BLUM, Blum, Abigail Fisher, Gabriella Borter, Will Dunham, Donna Bryson, William Maclean Organizations: U.S, Supreme, Harvard University, University of North, HARVARD UNIVERSITY Harvard University, Ivy League, Harvard, Fair, Asian, Civil, UNIVERSITY, NORTH CAROLINA The University of North, UNC, Fair Admissions, University of Texas, Lawyers, Thomson Locations: University of North Carolina, Cambridge , Massachusetts, U.S, NORTH CAROLINA The University of North Carolina, Constitution's

☆ A $7 billion startup wanted to build patient-friendly healthcare. Its bet on buzzy weight-loss drugs is testing that vision.
▼ + stars: | 2023-06-29 | by ( Blake Dodge | Rebecca Torrence | ) www.businessinsider.com time to read: +12 min

Patient complaints go beyond the Wegovy shortageKaitlyn's complaints echo an array of issues faced by other Ro patients seeking weight-loss drugs. The patients Insider interviewed asked to be identified by their first names to protect their privacy. In this chat log, a Ro weight-loss patient sends messages to the startup asking to cancel the program. Reitano told Insider that around 90% of Ro patients got a response within 24 hours. "Until these DTC companies generally start getting into the muck of healthcare, they're not going to have a material impact," Parker told Insider.

Persons: Ro, Zachariah Reitano, Reitano, Li Ran, Robyn Phelps, Kaitlyn, She'd, didn't, she's, couldn't, Max Kerwick, drugstores, Max, Ro's, aren't, hasn't, Florian Gaertner, it's, TJ Parker, they're, Parker Organizations: New York, Getty, Better Business Bureau, Nordisk, Better Business, CareMetx, Ro, TechCrunch Locations: Xinhua, New York, New York City

☆ Corruption inquiry in Australia uncovers China links to state lawmaker
▼ + stars: | 2023-06-29 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

SYDNEY, June 29 (Reuters) - The former premier of Australia's most populous state engaged in corrupt conduct involving another lawmaker with whom she was in a secret romantic relationship, a years-long corruption inquiry that examined business dealings with China said on Thursday. The inquiry said Maguire sought to use his government office to "create a network between China and Australia and to make a commission in multiple ways". The commission found Maguire engaged in "serious corrupt conduct" between 2012 and 2018 for the migration scheme and other misconduct. It said he misused his role as chairman of the New South Wales Parliament's Asia Pacific Friendship Group to advance the commercial interests of a Chinese business association in South Pacific nations. The commission said it would seek advice from the Director of Public Prosecutions on whether further prosecutions should be commenced into Maguire.

Persons: Gladys Berejiklian, Daryl Maguire, Maguire, Berejiklian, Barry O'Farrell, Kirsty Needham, Stephen Coates Organizations: SYDNEY, New South Wales Independent, Corruption, New, Liberal, Australian Council, Australia, Pacific Friendship Group, New South Wales, Public, Maguire, Thomson Locations: Australia's, China, New, New South Wales, Berejiklian, Australia, South Pacific, Beijing, Sydney, Liaoning, New South

The flight marks a decisive moment for Virgin Galactic Holding Inc (SPCE.N), the space tourism venture founded by British billionaire Richard Branson in 2004, as it inaugurates commercial service following several years fraught with development setbacks. Rounding out the crew was their Virgin Galactic trainer, Colin Bennett, the company's lead "astronaut instructor," and Unity's two pilots, Michael Masucci and Nicola Pecile. A final crewed test flight to space was conducted with little fanfare five weeks ago. Virgin Galactic has said it has already booked a backlog of some 800 customers, charging from $250,000 to $450,000 per seat, and envisions eventually building a large enough fleet to accommodate 400 flights annually. An earlier prototype of the Virgin Galactic rocket plane crashed during a test flight over California's Mojave Desert in 2014, killing one pilot and seriously injuring another.

Persons: Richard Branson, Jeff Bezos's, Elon Musk's, Walter Villadei, Angelo Landolfi, Pantaleone, Colin Bennett, Michael Masucci, Nicola Pecile, Branson, Bezos, Shepard rocketship, Jose Luis Gonzalez, Steve Gorman, Will Dunham Organizations: Virgin Galactic, National Research Council, Italy, Virgin Galactic Holding Inc, Virgin, Elon Musk's SpaceX, Italian Air Force, VSS Unity, International Space, Air Force, America, Unity, NASA, U.S . Air Force, Thomson Locations: New Mexico, Italy, British, Italian, Los Angeles

Virgin Galactic leases part of the facility. The flight marked a long-delayed breakthrough for Virgin Galactic Holding Inc (SPCE.N), finally inaugurating commercial service after nearly 20 years of fraught by development setbacks. Rounding out the crew was their Virgin Galactic trainer, Colin Bennett, the company's lead "astronaut instructor," and Unity's two pilots, Michael Masucci and Nicola Pecile. Virgin Galactic said Unity topped out its flight at an altitude of nearly 52.9 miles (85.1 km). An earlier prototype of the Virgin Galactic rocket plane crashed during a test flight over California's Mojave Desert in 2014, killing one pilot and seriously injuring another.

Persons: Richard Branson, Joe, Branson, Burt Rutan, Jeff Bezos's, Elon Musk's, Walter Villadei, Angelo Landolfi, Pantaleone, Colin Bennett, Michael Masucci, Nicola Pecile, Bezos, Shepard rocketship, Jose Luis Gonzalez, Steve Gorman, Will Dunham, Nick Zieminski Organizations: Virgin, REUTERS, Virgin Galactic, National Research Council, VSS Unity, America, Galactic, Virgin Galactic Holding Inc, . Virgin, Elon Musk's SpaceX, Italian Air Force, International Space, Air Force, Unity, NASA, U.S . Air Force, Thomson Locations: New Mexico, U.S, Italy, Mexico, Italian, Los Angeles

Virgin Galactic leases part of the facility. The flight marked a long-delayed breakthrough for Virgin Galactic Holding Inc (SPCE.N), finally inaugurating commercial service after nearly 20 years fraught by development setbacks. Virgin Galactic said Unity topped out its flight at an altitude of nearly 52.9 miles (85.1 km). A final crewed test flight to space was conducted with little fanfare five weeks ago. An earlier prototype of the Virgin Galactic rocket plane crashed during a test flight over California's Mojave Desert in 2014, killing one pilot and seriously injuring another.

☆ Ketanji Brown Jackson accuses Clarence Thomas of having 'an obsession with race consciousness' and relying on 'many more straw men' than can be listed in his affirmative action opinion
▼ + stars: | 2023-06-29 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +4 min

Ketanji Brown Jackson said Clarence Thomas's opinion showed "an obsession with race consciousness." In his own 57 page long concurring opinion, Associate Justice Clarence Thomas — a staunch conservative appointed by Republican President George H.W. "Worse still, Justice Jackson uses her broad observations about statistical relationships between race and select measures of health, wealth, and well-being to label all blacks as victims. "Given our history, the origin of persistent race-linked gaps should be no mystery," Jackson wrote. "Justice Thomas ignites too many more straw men to list, or fully extinguish, here," Jackson wrote.

Persons: Ketanji Brown Jackson, Clarence Thomas's, —, Clarence Thomas —, George H.W, Bush —, Joe Biden, Thomas, Jackson Organizations: Service, United States Supreme, Republican, University of North Locations: University of North Carolina

☆ Apple seeks to fend off EU antitrust charge triggered by Spotify at hearing
▼ + stars: | 2023-06-29 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, June 29 (Reuters) - Apple (AAPL.O) will on Friday seek to fend off a revised EU antitrust charge and possible hefty fine linked to claims it prevents music streaming companies such as Spotify (SPOT.N) from informing users of other buying options outside its App Store. EU antitrust enforcers earlier this year boosted their case against the company's so-called anti-steering obligations, but dropped an earlier charge against Apple's requirement that developers use its in-app payment system. The Commission said the anti-steering obligations breach EU rules against unfair trading conditions, a relatively novel legal argument in an antitrust case. Apple has said there is no merit in the case triggered by a Spotify complaint in 2019, pointing to the Swedish music streaming service's dominant market share in Europe, where Apple Music trails in third or fourth place in most EU countries. Spotify, which will also attend the hearing, urged a speedy decision from the Commission.

Persons: Apple, Foo Yun Chee, Jan Harvey Organizations: Spotify, European Commission, Apple, Netflix, Commission, EU, Thomson Locations: BRUSSELS, EU, Brussels, Europe

☆ With neutrinos, scientists observe our galaxy in a whole new way
▼ + stars: | 2023-06-29 | by ( Will Dunham | ) www.reuters.com time to read: +5 min

[1/2] An artist's composition of the Milky Way seen with a neutrino lens (blue) is shown in this undated handout image. Scientists said on Thursday they have produced an image of the Milky Way not based on electromagnetic radiation - light - but on ghostly subatomic particles called neutrinos. Neutrinos are produced by the same sources as cosmic rays, the highest-energy particles ever observed, but differ in a key respect. They released an illustration of their findings with neutrinos from the Milky Way represented by light, with a heavy concentration at the galaxy's core. "The most likely source of neutrinos and cosmic rays in our galaxy," Taboada added, "are the remains of past supernova explosions.

Persons: Lily Le, Shawn Johnson, Ignacio Taboada, Francis Halzen, Taboada, Naoko Kurahashi Neilson, Halzen, Will Dunham, Rosalba O'Brien Organizations: . National Science Foundation, REUTERS, Georgia Tech, of Wisconsin, Drexel University, Thomson Locations: REUTERS WASHINGTON, Philadelphia

It is a new challenge for formerly government-owned Air India, which Tata Group took over last year. The CCI, Air India and Vistara did not immediately respond to requests for comment. To address the CCI's concerns, Air India could make concessions such as giving up certain routes or reducing frequency, the second source said, adding that Air India remains confident the matter can be resolved by recommending certain changes. Vistara and Air India both fly on international routes such as London and Dubai and would need antitrust clearances in other jurisdictions, the first source said. Air India is expecting similar queries from foreign countries once it applies for clearance there, but is waiting for the India process to first close, the source added.

Persons: Vistara, Vaibhav Choukse, India's J, Choukse, Aditi Shah, Aditya Kalra, Gerry Doyle Organizations: Vistara, Air India, Tata Group, Tata, Air, The, of India, Singapore Airlines, India's, Sagar Associates, IndiGo, Thomson Locations: DELHI, Air India, India, London, Dubai

The flight, dubbed Galactic 01, comes two years after Branson himself rode along with five other Virgin Galactic Holdings Inc (SPCE.N) personnel for the company's first fully crewed test spaceflight of its rocket plane, VSS Unity. Back then, Virgin Galactic officials said they expected to begin regular commercial operations in 2022 following additional test flights. Virgin Galactic had projected booking its first 1,000 paying customers, charging about $250,000 per seat, by the time commercial service opened. An earlier prototype of Virgin Galactic's rocket plane crashed during a test flight over California's Mojave Desert in 2014, killing one pilot and seriously injuring another. Billionaire rival Jeff Bezos, whose astro-tourist venture Blue Origin has already flown several commercial passenger flights, has disparaged Virgin Galactic as falling short of a true spaceflight experience.

Persons: Richard Branson, Joe Skipper, Branson, Walter Villadei, Angelo Landolfi, Pantaleone, Colin Bennett, Michael Masucci, Nicola Pecile, Branson's, Jeff Bezos, Virgin, Shepard rocketship, Jose Luis Gonzalez, Steve Gorman, Will Dunham Organizations: Virgin, Unity, REUTERS, Virgin Galactic, National Research Council, Virgin Galactic Holdings Inc, VSS, Galactic, SpaceX, Origin, Italian Air Force, International Space, Air Force, . Air Force, America, Corporate, NASA, U.S . Air Force, Thomson Locations: New Mexico, U.S, Italy, Mexico, Italian, Branson, Bezos, Los Angeles

The case against Saint-Gobain and its local unit was filed to the Competition Commission of India (CCI) in May by a retired glass industry executive, whose name was redacted in the documents as the person sought confidentiality. Saint-Gobain has a 44% share of the float glass market in India and a 19% share of the coated one, according to the documents. The group and its India unit, Saint-Gobain India Private Limited, "conduct their activities in compliance with laws", in particular competition law, it said. The May 25 case documents allege Saint-Gobain entered into agreements with glass processors, forcing them to "exclusively" purchase glass from the company or face stopped supplies if that obligation is not fulfilled. Saint-Gobain counts India as a key market.

Persons: Gonzalo Fuentes, Gobain, Benoit Bazin, Aditya Kalra, Muralikumar Organizations: La Defense, REUTERS, India, Company, Compagnie de Saint, Reuters, Saint, Competition Commission of India, Limited, DLF, Thomson Locations: Courbevoie, Paris, France, India, DELHI

Variable rate mortgages in Canada typically require borrowers to make regular payments in fixed amounts. WHAT IS THE EXTENT OF MORTGAGE AMORTIZATION EXTENSION? Both banks had no variable-rate mortgages with amortizations greater than 30 years prior to the start of rate hikes. If interest rates stay high over the next few years, as the central bank has warned, it raises questions about customers' ability to service bigger than anticipated debt at higher rates during renewals. The big banks said most customers are able to cope with higher interest rates as they had passed a rigorous stress test to handle higher interest rates.

Persons: Royce Mendes, Carolyn Rogers, OSFI, Nivedita Balu, Fergal Smith, Steve Scherer, Denny Thomas, Conor Humphries Organizations: TORONTO, Statistics Canada, Royal Bank of Canada, CIBC, Bank of Nova, National Bank, Bank of Canada, BoC, Thomson Locations: Canada, United States, Bank of Nova Scotia, amortization, Toronto, Ottawa

☆ Don't worry pizza-heads, NYC is still safe for pizza
▼ + stars: | 2023-06-27 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

New York CNN —Lawmakers and prominent social media personalities have in recent days rallied against a proposed New York City rule that some say would crack down on the city’s beloved pizzerias. New York City is famously and deservedly known for its pizza. I hear New York City is trying to ban delicious pizza. New York City Mayor Eric Adams made a similar point during a press conference on Monday. So wait, did someone really throw a pizza at City Hall in protest of the proposed rule?

Persons: pizzerias, Sen, Marsha Blackburn, ” Dave Portnoy, Elon Musk, Michael Berman, Photodisc, “, Edward “ Ted ”, Michael Seilback, Pizza's, Artem Vorobiev, ”, Garima, Seilback, Eric Adams, wouldn’t, Adams Organizations: New, New York CNN — Lawmakers, Tennessee, Barstool Sports, Twitter, City Hall, City, city’s Department of Environmental, CNN, New York City Department of Environmental, Edward “ Ted ” Timbers, NYC Department of Environmental, American Lung Association, Getty, Columbia University, New York City Locations: New York, New York City, York City

NEW DELHI, June 26 (Reuters) - Google (GOOGL.O) has urged India's Supreme Court to quash antitrust directives against it for abuse of the Android market, two sources said, as its presses its legal battle against the competition watchdog in one of its most important markets. The Competition Commission of India (CCI) said in October that Google, whose Android mobile operating system powers 97% of 600 million smartphones in India, had exploited its dominant position. Google is now asking the Supreme Court to quash the remainder of the directives, the first source with direct knowledge said. Google's Supreme Court challenge has not been previously reported. The CCI too has approached the Supreme Court, seeking to reverse the tribunal's decision to give Google partial relief, according to a third source.

Persons: India's, quashing, Aditya Kalra, Conor Humphries Organizations: of India, Google, U.S, Alphabet Inc, Supreme, Thomson Locations: DELHI, India

☆ An epic fight over how real-estate agents get paid could transform the housing market forever
▼ + stars: | 2023-06-26 | by ( James Rodriguez | ) www.businessinsider.com time to read: +15 min

Trying to find a buyer and sifting through offers sounds like a nightmare, so you hire a real-estate agent. The seller might no longer pay out both agents' commissions after the sale closes. Despite the potentially earthshaking consequences, most local real-estate agents — who, to be fair, have more pressing short-term concerns — have largely ignored the cases. "They not only have to pay a buyer's agent commission, but they can't negotiate that commission," Brobeck said of sellers. "It just doesn't make any sense for the seller to have to pay the buyer's agent," Brobeck told me.

Persons: —, Sitzer, that's, Max, Keller Williams, Sellers, Brokerages, Stephen Brobeck, Brobeck, Moehrl, Wager, Katie Johnson, you'll, Johnson, Buyers, Nicholas Economides, homebuyers, Trump, Everyone's, Rob Hahn, Steve Marcus, David Eisenstadt, Eisenstadt, Hahn, James Rodriguez Organizations: National Association of Realtors, NAR, Realtors, MLS, Consumer Federation of America, New York University, CFA, Realtor.com, REUTERS, Berkeley Research Group, Justice Department's Antitrust Locations: America, Missouri, Illinois, MLSs, Houston , Texas, Australia, Netherlands, United Kingdom

They undermine law and order in Judea and Samaria [West Bank] and must stop immediately,” he said at a cabinet meeting on Sunday. These calls hurt the vital interests of the State of Israel and they must stop immediately.”Israeli authorities describe the West Bank as Judea and Samaria. I emphasize – approved.”The recent uptick in violence peaked on Wednesday, when Israeli settlers attacked the Palestinian village of Turmusayya in the occupied West Bank, the day after the killing of four Jewish settlers nearby, according to the mayor of the village. ‘Nationalist terrorism’Senior Israeli security officials condemned what they called “nationalist terrorism” by some settlers, after the latest attacks took place on Saturday around the Palestinian village of Umm Safr, north of Ramallah. Sven Kuhn von Burgsdorff, the head of the European Union's mission to the occupied West Bank and Gaza Strip, stands inside a destroyed structure in Ramallah on Friday.

Persons: Benjamin Netanyahu, Netanyahu, “, ”, ’, Herzi Halevi, Yaakov Shabtai, Umm, Sven Kuhn von Burgsdorff, Ahmad Gharabli, ” Ghassan Douglas, Mohammad Radee Organizations: Jerusalem CNN, Israeli, West Bank, West, UN, Palestinian, Nationalist, Israeli General Staff, Israel Security Agency, ISA, Israel’s Police, Israel Police, Getty, Palestine TV, CNN, Palestine, Palestinian Foreign Ministry Locations: Jerusalem, Judea, Samaria, West, Israel, West Bank, Turmusayya, Jenin, Umm Safr, Ramallah, “, Gaza, AFP

The Republican-led state is currently enforcing a near-total abortion ban, with exceptions for rape, incest or the life of the mother. MONTANA: Governor Greg Gianforte in May signed into law several bills limiting abortion access, including one that aims to overturn a 1999 state Supreme Court ruling that found the state constitution protected a right to abortion. TEXAS: While abortion is completely banned with very limited exceptions in Texas, Republican state representatives have introduced legislation that would compel internet providers to block websites that supply abortion pills or provide information on how to obtain an abortion. UTAH: Republican Governor Spencer Cox in March signed legislation to prohibit the licensing of abortion clinics, which abortion rights advocates say would effectively eliminate access in the state. In April, he also signed into law a bill to shield abortion providers and patients from other states' legal attacks.

Persons: Sam Wolfe, Roe, Wade, Ron DeSantis, Brad Little, Greg Gianforte, Jim Pillen, Roy Cooper's, Doug Burgum, Henry McMaster, Spencer Cox, Mark Gordon, Gretchen Whitmer, J.B, Pritzker, Tim Walz, Gabriella Borter, Sharon Bernstein, Julia Harte, Colleen Jenkins, Alistair Bell Organizations: Carolina House, REUTERS, U.S, Supreme, Republican, NORTH, Democratic, SOUTH, South Carolina Supreme Court, Senate, Minnesota, Thomson Locations: Columbia , South Carolina, U.S, FLORIDA, . IDAHO, MONTANA, . NEBRASKA, NORTH CAROLINA, North Carolina, NORTH DAKOTA, North Dakota, SOUTH CAROLINA, Carolina, TEXAS, Texas, UTAH, Utah . WYOMING, CALIFORNIA, MICHIGAN, ILLINOIS, MINNESOTA, OHIO, Washington, Sacramento , California, New York

But in South Korea, “no-kids zones” have become remarkably popular in recent years. In addition to the world’s lowest birthrate, South Korea has one of the world’s fastest aging populations. A widely circulated crowd-sourced Google Map shows the location of many of South Korea's no-kids zones, as identified by users. A man looks at strollers at a baby fair in Seoul, South Korea, in September 2022. See why South Korea has the world's lowest fertility rate 02:41 - Source: CNNNo kids to kids first?

Persons: it’s, Yong Hye, Bonnie Tilland, Tilland, ”, Lee Yi, “ It’s, Lee Ji, Kim Se, “, choong, ” Tilland, Yong, don’t, ” Yong, Barista Ahn Hee, yul, they’re Organizations: Seoul CNN —, South, Google, Income Party, National Assembly, Facebook, Human Rights, UN, Yonsei University, Leiden University, Hankook Research, CNN Locations: Seoul, South Korea, Jeju, Japan, United States, South, Korea, Netherlands, ‘

☆ Parties seek court approval of JPMorgan Chase $290 million settlement over Epstein ties
▼ + stars: | 2023-06-23 | by ( Lauren Del Valle | ) edition.cnn.com time to read: +4 min

New York CNN —Attorneys filed a preliminary plan to facilitate a $290 million settlement fund for JPMorgan Chase to compensate victims of Jeffrey Epstein. “JPMC is entering into this Stipulation solely to eliminate the burden, expense, and uncertainty of further protracted litigation. Attorneys for the parties have suggested Simone Lelchuk oversee the JPMC settlement process as she has already been appointed claims administrator for the Deutsche Bank settlement. Claimants can see the award money from both bank settlements, though the JPMorgan settlement language notes that any award amount received through the Deutsche Bank settlement will be considered when processing their claim with JPMC. JPMorgan Chase remains tied up in litigation over its longtime relationship with Epstein in a pending lawsuit brought by the government of the US Virgin Islands.

Persons: Jeffrey Epstein, Epstein, “, ”, JPMC, “ JPMC, Simone Lelchuk, Lelchuk, Harvey Weinstein, JPMorgan Chase, Jes Staley, trafficker’s Organizations: New, New York CNN, JPMorgan Chase, Deutsche Bank, JPMorgan, Virgin Islands Locations: New York, “, Virgin, JPMC

☆ Central banks to Wall Street: More pain is coming
▼ + stars: | 2023-06-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —Market euphoria in early June, spurred on by a pause in interest rate hikes by the Federal Reserve, is well behind us now. What’s happening: It’s been just over a week since the Federal Reserve paused its 14-month regimen of interest rate hikes to fight inflation. The Bank of England, meanwhile, surprised investors by raising interest rates in the UK by an outsized half of a percentage point. Central banks had been making smaller interest rate moves as inflation began to ease off of recent highs. Elsewhere in Europe, central banks in Norway and Switzerland also hiked rates to decade-high levels on Thursday.

Persons: We’re, It’s, Jerome Powell, ” Powell, Stocks, Scott Wren, Wells, ”, Samantha Delouya, Elon Musk, Mark Zuckerberg, Musk, Zuckerberg, Hanna Ziady, Alex Heath, “, Paddy Power Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Central Bank, Nasdaq, Senate, Financial Services, The Bank of England, Bank of England, Fed, Commonwealth, 3M, WWE, Tech, Twitter, Meta, “ Locations: New York, Europe, Norway, Switzerland, ” Switzerland, United States, Wells Fargo, Las Vegas

☆ What is a catastrophic implosion? What to know about the Titan submersible disaster
▼ + stars: | 2023-06-23 | by ( Jessie Yeung | ) edition.cnn.com time to read: +8 min

CNN —What was supposed to be a 10-hour journey to the Titanic shipwreck ended in tragedy, with all five passengers on the missing submersible killed in a catastrophic implosion. An underwater implosion refers to the sudden inward collapse of the vessel, which would have been under immense pressure at the depths it was diving toward. It’s unclear where or how deep the Titan was when the implosion occurred, but the Titanic wreck sits nearly 13,000 feet (almost 4,000 meters) below sea level. The submersible was about 1 hour and 45 minutes into the roughly 2 hour descent when it lost contact. But the submersible had only been equipped with 96 hours of oxygen, setting Thursday as a key target to locate and retrieve the submersible.

Persons: Rick Murcar, Aileen Maria Marty, “, ” What’s, ”, Tom Maddox, It’s, OceanGate, Stockton, ” Rush, Rush, Hamish Harding, Paul, Henri “, Nargeolet, Shahzada Dawood, Suleman Dawood, Dawood Hercules, Hussain Dawood, Kulsum Dawood Organizations: CNN, US Navy, Titan, National Association of Cave, Naval, Florida International University, US Coast Guard, Forensic Investigators, Maritime Horizon Services, Maritime, Navy, OceanGate Expeditions, Stockton Rush, Princeton, United Arab Emirates, Action Aviation, Titanic Inc, French Navy, Dawood Hercules Corp Locations: Newfoundland, Canada, British, French

☆ 3M agrees to pay $10.3 billion to settle 'forever chemicals' lawsuits
▼ + stars: | 2023-06-22 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —3M announced Thursday that it had reached an agreement to settle lawsuits that claimed that toxic “forever chemicals” had contaminated water supplies in the United States. The company — which produces Post-It notes, Scotch Tape, and n95 masks, among other industrial products — said it would pay up to $10.3 billion over 13 years to fund public water suppliers in the US that have detected these chemicals in drinking water. Polyfluoroalkyl and perfluoroalkyl substances (PFAS), known as “forever chemicals,” have been found in hundreds of household items, including makeup and carpeting, and are used to make coatings that repel water, grease, and oil. The settlement comes after 3M faced thousands of lawsuits for the last two decades over its manufacturing of products containing PFAS. These lawsuits allege that 3M knew PFAS caused cancer, developmental defects and other health problems, and that the chemicals contaminated US drinking water systems.

Persons: 3M’s, ”, Mike Roman Organizations: CNN — 3M, 3M, Chemours, DuPont, US Environmental Protection Agency Locations: United States

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