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Wells Fargo (WFC) agrees to a $3.7 billion settlement with the government's Consumer Financial Protection Bureau (CFPB) over consumer abuses. Wells Fargo analysts believe an ESPN/ABC spinoff from Club stock Disney (DIS) is a "reasonably probable event" late next year. American (AAL) and other airlines saw price target cuts on Wall Street. Barclays raises price target on Merck (MRK) to $128 per share from $110 and keeps overweight (buy) rating. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Another lawmaker, Republican Sen. Tommy Tuberville of Alabama, disclosed at a Senate Agriculture Committee hearing about FTX on Thursday that he, too, holds some crypto assets. Tuberville's most recent disclosure reports from this year reviewed by CNBC do not show any crypto stock purchases. Out of all ten offices contacted, only one said they sold their crypto stock holdings after FTX imploded. Rep. Marie Newman, D-Ill., who lost her bid for reelection owned crypto stock up until last week, recently sold her digital token stocks as the industry took a hit. Toomey told CNBC "HODL" when asked about whether he plans to sell his crypto stock following FTX's collapse.
Stephen and Karen White retired in 2021, but then they rejoined the workforce. The couple made the choice to retire in the beginning of 2021 after visiting Washington, but the pandemic's impact also played a role. After both officially retired in the summer of 2021, skyrocketing inflation pushed the couple to walk back their plans and go back to the workforce grind. Stephen went back to work in education. "Workers who say they've retired regularly return to work after some time away."
The surge led to demands on pension schemes to stump up more collateral on liability-driven investments (LDI) - typically derivatives used to hedge government bonds. The Bank of England (BoE) stepped in to buy government bonds, but its programme is due to end on Friday, pressuring pension schemes to sell billions in pounds of assets to meet their collateral calls before that support is withdrawn. But some schemes may have lost money after the surge in yields forced them out of their LDI positions. "The exact outcomes for pension schemes is mixed. UK pension fund trustees should step up engagement with investment managers to quantify funding gaps and risks prior to the end of the BoE's bond-buying scheme, the regulator said earlier on Wednesday in guidance for trustees.
Navy officials now say that they hope to have drone aircraft compose 60% of their carrier air wings. That distinction belongs to Naval Aircraft Factory's TDN-1, which on August 10, 1943 became the first US Navy drone to take off from an aircraft carrier. The first carrier droneA TDN-1 drone on its first piloted flight over Traverse City in Michigan on May 19, 1943. A TDN-1 drone aboard US Navy training carrier USS Sable off of Traverse City on August 10, 1943. On August 10, three TDN-1s made history when they took off from the training aircraft carrier USS Sable in Lake Michigan.
University of Cambridge says it gained from slave trade
  + stars: | 2022-09-22 | by ( ) www.nbcnews.com   time to read: +4 min
Cambridge said an investigation it commissioned had found no evidence that the university itself ever owned slaves or plantations directly. Those came from university benefactors who had made their money from the slave trade, the university’s investments in companies that participated in it, and fees from plantation-owning families, according to the investigation’s report. Researchers found that fellows from Cambridge colleges were involved with the East India Company, while investors in the Royal African Company also had links to Cambridge — two companies both active in the slave trade. “Such financial involvement both helped to facilitate the slave trade and brought very significant financial benefits to Cambridge,” the Legacies of Enslavement report said. The university said it had also received a donation to commission a Black British artist to memorialize Black Cambridge scholars, and will install explanatory plaques to contextualize older statues of those associated with the slave trade.
"Verily is increasingly becoming a more commercial-stage company," Conrad told employees. "I've come to realize that I have drifted away from my true passion — science," Conrad said in the memo. "So at the New Year I want to move away from running the company day to day to concentrate on projects for which I have a deep interest and can contribute in a meaningful way." Insider previously reported that Conrad had taken a step back from day-to-day responsibilities as Gillett had increasingly absorbed more leadership responsibilities. Conrad said the company would search for a new CFO "with a deep healthcare background for the next phase of our growth."
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