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☆ US House to vote on proposal to expel embattled Republican George Santos
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

It requires a vote by two-thirds of the chamber to expel a lawmaker. Republican lawmakers from Santos' state of New York said last month they would introduce a resolution to expel Santos, but the move was delayed by weeks when the House was leaderless following the ouster of Speaker Kevin McCarthy. The corruption charges against Santos also include reporting a false $500,000 campaign loan and lying to the House about his assets. A trial for Santos is scheduled for Sept. 9, 2024, shortly before the elections that will determine control of the White House and both congressional chambers. The House Ethics Committee has also said it is looking into allegations involving Santos.

Persons: Representative George Santos, Amr Alfiky, George Santos, Santos, New York, Kevin McCarthy, Mike Johnson, McCarthy, Makini Brice, Scott Malone, Jonathan Oatis Organizations: Representative, Central, Central Islip Federal, REUTERS, Rights, U.S . House, Republican, U.S, Republicans, White, Thomson Locations: Central Islip, Central Islip , New York, U.S, York, New York City, Santos, New

☆ China's property crisis just keeps getting worse — property giant Country Garden just warned it may default on its debt
▼ + stars: | 2023-10-10 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China's Country Garden warned on Tuesday it could default on its offshore debt payments. Country Garden is the latest high-profile Chinese real-estate giant ensnared in a liquidity crunch. On Tuesday, embattled property giant Country Garden signaled that it may be facing its first default ever, in a filing to the Hong Kong Stock Exchange. However, Country Garden has around 3,000 unfinished projects — which is around four times that of Evergrande's 800 projects that are still being built. Country Garden shares were down 9.5% at 76 Hong Kong cents at 3.34 p.m. local time.

Persons: —, Evergrande —, it's, Houlihan Lokey, Sidley Austin Organizations: HK, Service, Hong Kong Stock Exchange, Hong, Bloomberg, China International Capital Corporation, Garden Locations: Hong Kong, China

☆ How this 77-year-old widow lost $661,000 in a common tech scam: 'I realized I had been defrauded of everything'
▼ + stars: | 2023-10-08 | by ( Greg Iacurci | ) www.cnbc.com time to read: +19 min

Older adults, many of whom have saved their entire careers for retirement, can have the most to lose. The Covid pandemic was a disproportionate threat to older adults, keeping Americans indoors and quickly pushing them online. Outcomes hinge on a complex web of federal and state rules that govern banking and elder financial fraud. Such "heightened procedures" to protect older adults are part of the bank's duty of care relative to older customers, the lawsuit said. Scammers had her wire funds from her PNC bank account to an account at the now-defunct Signature Bank in New York.

Persons: Marjorie Bloom, she'd, Bloom, Roth, Ester, Ester Bloom, Rebecca Keithley, —, they'd, I'm, Kathy Stokes, Keithley, General Merrick Garland, she'll, Marjorie Bloom Bloom, trekked, Mount, Kriangkrai, I've, There's, Sergio Flores, scammers —, Carla Sanchez, Adams, Sanchez, Banks, Marve Ann Alaimo, Porter Wright Morris, Arthur, Alaimo, Cryptocurrency, Scammers, scammers, it's, Patrick Wyman, Wyman, Al Drago Organizations: PNC Bank, Finance, CNBC, Federal Bureau of Investigation, PNC, FBI, Social, Department of Justice's, Vanguard Group, Federal, Consumer Finances, AARP, Microsoft, Department of Energy, Guaranty Corporation, U.S, North Dakota ., Everest Base, Social Security, North Bethesda Camera, PNC Bank —, District of Columbia, Bloomberg, Getty, National Consumer Law, Signature Bank, Asset Unit Locations: Chevy Chase , Maryland, U.S, Vietnam, Mount Everest, North Dakota, liquidating, Nepal, Marjorie Bloom Maryland, District, —, Maryland, PNC, New York, Cayman Islands, Washington ,

The ramifications for global markets are significant, with Washington and Beijing's determination to loosen dependence on each other fraying long-established supply chains. Many central banks target 2% inflation; market gauges of traders' long-term U.S. and European inflation expectations are running higher , . Anna Rosenberg, head of geopolitics at the Amundi Investment Institute, said Sino-U.S. tensions, provide a "new lens" through which to analyse emerging markets' growth prospects. But the performance of big U.S. tech stocks and global share indices are vulnerable to signs of Chinese retaliation. With China underperforming global stocks, investors are split on how to approach this market.

Persons: Dado Ruvic, Joe Biden, Goldman Sachs, Wouter Sturkenboom, Laura Alfaro, Anna Rosenberg, Christopher Rossbach, J, Stern, Carole Madjo, Wendy Liu, Baird, Patrick Spencer, Naomi Rovnick, Kripa Jayaram, Riddhima, Vineet, Sumanta Sen, Pasit, Louise Heavens Organizations: REUTERS, EMEA, APAC, Northern Trust, Reuters, Research, Harvard Business, Amundi Investment Institute, INDIA RUSH, Barclays reckons, EU, Apple, China, Barclays, JPMorgan, Thomson Locations: West, China, Washington, Western, Germany, Northern, Europe, FRIENDSHORING Washington, Vietnam, Mexico, Mongolia, Philippines, Sino, U.S, India, Beijing, COVID, CHINA

☆ Trump ally Scott Hall agrees to plea deal in Georgia elections case
▼ + stars: | 2023-09-29 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

Fulton County Sheriff's Office/Handout via REUTERS/File PhotoWASHINGTON (Reuters) - Donald Trump ally and former Republican poll watcher Scott Hall on Friday pleaded guilty to conspiring to interfere with Georgia’s elections as part of the former U.S. president’s attempts to overturn his 2020 defeat. Hall so far is the only one of 19 defendants, including Trump, to plead guilty in Fulton County, Georgia’s conspiracy case, one of four criminal prosecutions that have ensnared the frontrunner for the Republican 2024 nomination. A live video of a court proceeding showed Hall pleaded guilty to five counts of conspiracy to commit intentional interference with the performance of election duties, a misdemeanor charge. Trump has denied wrongdoing and said the case is part of a political witch hunt. Trump has denied wrongdoing and pleaded not guilty in those cases as well.

Persons: Scott, mugshot, Donald Trump, Scott Hall, president’s, Trump Organizations: Sheriff's, U.S, Fulton County Sheriff's, REUTERS, WASHINGTON, Republican, Trump, Hall Locations: Fulton, Atlanta , Georgia, U.S, Fulton County, Florida, Washington, New York

☆ China bans Nomura senior investment banker from leaving mainland — sources
▼ + stars: | 2023-09-25 | by ( ) www.cnbc.com time to read: +3 min

Signage for Nomura Holdings Inc. displayed outside a Nomura Securities Co. branch in Tokyo, Japan, on Monday, April 24, 2023. Authorities in China have ordered a senior Nomura Holdings banker overseeing the firm's investment banking operations there not to leave the mainland, two sources with knowledge of the matter said. Charles Wang Zhonghe, China investment banking chairman at Nomura, is prohibited from travelling outside the mainland, said the sources, who sought anonymity as they were not authorised to speak to media. A Reuters analysis has found an apparent surge of court cases involving such bans in recent years, and foreign business lobbies are voicing concern about the trend. In August last year, he was also appointed as chairman of Nomura Orient International Securities, the bank's majority-owned securities business headquartered in the commercial hub of Shanghai.

Persons: Charles Wang Zhonghe, Wang, Nomura, Bao Fan, Cong Lin, Bao, Cong, Nomura's Wang, Wang Wenbin, Mintz, Zhong Organizations: Nomura Holdings Inc, Nomura Securities Co, Nomura Holdings, Nomura, Financial Times, China Renaissance Holdings, ICBC, Commercial Bank of China Ltd, Reuters, Bain & Company, Group, Beijing, European Union, Deutsche Bank, Securities, Nomura Orient International Securities Locations: Tokyo, Japan, China, Hong Kong, Beijing, Shanghai

☆ China bans Nomura senior investment banker from leaving mainland -sources
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +4 min

The logo of Nomura Securities is pictured at the company's Otemachi Head Office in Tokyo, Japan, November 18, 2016. Charles Wang Zhonghe, China investment banking chairman at Nomura, is prohibited from travelling outside the mainland, said the sources, who sought anonymity as they were not authorised to speak to media. Asked why the Nomura banker was barred from leaving, Chinese foreign ministry spokesperson Wang Wenbin said he did not have knowledge of the situation at a regular news briefing on Monday. A Reuters analysis has found an apparent surge of court cases involving such bans in recent years, and foreign business lobbies are voicing concern about the trend. In August last year, he was also appointed as chairman of Nomura Orient International Securities, the bank's majority-owned securities business headquartered in the commercial hub of Shanghai.

Persons: Toru Hanai, Charles Wang Zhonghe, Wang, Nomura, Bao Fan, Cong Lin, Bao, Cong, Nomura's Wang, Wang Wenbin, Mintz, Zhong, Selena Li, Kane Wu, Makiko Yamazaki, Liz Lee, Sumeet Chatterjee, Clarence Fernandez Organizations: Nomura Securities, REUTERS, Authorities, Nomura Holdings, Nomura, Financial Times, China Renaissance Holdings, HK, ICBC, Commercial Bank of China Ltd, Reuters, Bain & Company, Group, Beijing, European Union, Deutsche Bank, Securities, Nomura Orient International Securities, Thomson Locations: Tokyo, Japan, HONG KONG, China, Hong Kong, Beijing, Shanghai

☆ Rupert Murdoch steps down as Fox and News Corp. chairman, sending shockwaves through media and politics
▼ + stars: | 2023-09-21 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

New York CNN —Rupert Murdoch, the powerful right-wing media mogul who built and oversaw one of the world’s most influential news empires, announced Thursday that he will step down as chairman of his companies, Fox Corporation and News Corporation. Lachlan Murdoch steps inLachlan Murdoch will take over as chairman of Fox and News Corporation. Evan Agostini/Invision/APStepping into his shoes, Murdoch’s eldest son, Lachlan, who already serves as chief executive of Fox Corporation, will become sole chairman of both companies. In 1986, Murdoch got into the television business after he purchased several US television stations and created Fox Broadcasting. In recent years, under Murdoch, Fox News has advanced baseless conspiracy theories, including the Covid-19 pandemic and the 2020 presidential election.

Persons: Rupert Murdoch, ” Murdoch, Murdoch, Donald Trump’s, Lachlan Murdoch, Evan Agostini, Lachlan, ”, Rupert, “, ” Rupert Murdoch, Trump, oilman Marvin Davis, Donald Trump, Bill Hemmer, Hemmer, Dana Perino Organizations: New, New York CNN, Fox Corporation, News Corporation, “, ”, Fox and News Corporation, Wall Street Journal, New York, Republican Party, Fox News, CNN, Australian, UK’s, The Times, Sunday Times of, Century Fox, Fox Broadcasting, Sky, Comcast, Fox, Disney, Fox Sports, Fox News Fox News, Voting Systems, Dominion Locations: New York, cahoots, Sunday Times of London, Britain, America

☆ Turbulence in China’s top ranks raises questions about Xi Jinping’s rule
▼ + stars: | 2023-09-19 | by ( Nectar Gan | ) edition.cnn.com time to read: +10 min

Defense Minister Li Shangfu has not been seen in public for three weeks, sparking speculation he is under investigation. Both Li and Qin serve among China’s five state councillors, a senior position in the cabinet that outranks a regular minister. Li also sits on the Central Military Commission, a powerful body headed by Xi that commands the armed forces. China's Defence Minister Li Shangfu gives a speech during the Moscow Conference on International Security on August 15. Last week, as speculation mounted over the whereabouts of the defense minister, Xi called for unity and stability within the military during an inspection in China’s northeast.

Persons: China’s, Li Shangfu, Weeks, Qin Gang, Xi, Li, Qin, outranks, “ What’s, ”, Drew Thompson, Xi Jinping, James Char, Lloyd Austin, Alexander Nemenov, Xi’s, Deng Yuwen, ” Rahm Emanuel, Agatha Christie’s, “, –, Craig Singleton, General Zhang Youxia, Zhang, He’s, Thompson, they’re, ” Thompson, Mao Zedong, Char, …, ” Char, Jinping Organizations: Hong Kong CNN —, Defense, Foreign, Central Military Commission, People’s Liberation Army Rocket Force, Wall Street Journal, Communist Party, National University of Singapore, Rajaratnam, of International Studies, Belarus ’, US, Singapore’s Navy, China's, Conference, International Security, Getty, Twitter, Foundation for Defense of Democracies, Washington DC, Development Department, Rocket Force, Equipment Development Department Locations: China, Hong Kong, United States, Washington, Beijing, Singapore, Moscow, Belarus, Minsk, AFP, Japan, Soviet, Sichuan, “

☆ Martin Sheen and Melissa Fitzgerald: ‘We are all dancing on the edge of the abyss’
▼ + stars: | 2023-09-18 | by ( Opinion Martin Sheen | Melissa Fitzgerald | ) edition.cnn.com time to read: +7 min

Melissa Fitzgerald is an actress and director of strategic engagement for All Rise, founded as the National Association of Drug Court Professionals, a training, membership, and advocacy organization for justice system innovation and reform. These public health and public safety crises are among the paramount social challenges of our time. And of course, we need to develop an ever-growing workforce of licensed addiction treatment providers to deliver services. Treatment courts are a shining example of how the justice system can, and should, provide a public health-oriented response to addiction. This year alone, 4,000 treatment courts will refer 150,000 people to treatment and recovery support.

Persons: Martin Sheen, Melissa Fitzgerald, Melissa —, —, Andy, “, ” Melissa Fitzgerald Leah Puttkammer, Martin Sheen Michael Kovac, we’ll Organizations: Golden Globe, National Association of Drug Court, Public, CNN, AFI, US Centers for Disease Control, National Center, Substance, Welfare, Mental Health Administration, Research, Kennedy Center Locations: telehealth, Chicago, Washington , DC

☆ Prominent German banker on trial in giant tax fraud scheme
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +2 min

[1/2] Christian Olearius, former CEO of Warburg Bank looks on as he arrives for Cum-Ex tax fraud trial, at a regional court, in Bonn, Germany, September 18, 2023. REUTERS/Wolfgang Rattay Acquire Licensing RightsBONN, Sept 18 (Reuters) - A top German banker went on trial on Monday accused of playing a role in a multibillion-euro German tax fraud scheme that has ensnared scores of domestic and global banks and hundreds of individuals. The trial that began on Monday in Bonn involves Christian Olearius, the 81-year-old former CEO and chair of the Hamburg-based bank M.M. Prosecutor Stephanie Kerkering told the court that Olearius had conspired with others inside and outside Warburg to engage in the transactions. Earlier this year, a tax lawyer alleged to have masterminded the fraud received a second eight-year jail sentence, the longest to date.

Persons: Olearius, Wolfgang Rattay, Christian Olearius, M.M . Warburg, Stephanie Kerkering, Warburg, Olaf Scholz, Matthias Inverardi, Tom Sims, Friederike Heine, Bernadette Baum Organizations: Warburg Bank, REUTERS, Rights, M.M, Warburg, Thomson Locations: Bonn, Germany, Rights BONN, German, Hamburg, M.M ., Warburg

☆ Wang Bin: Chinese insurance boss sentenced to life in jail for corruption
▼ + stars: | 2023-09-13 | by ( Laura He | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Wang Bin, the former chairman of one of China’s biggest life insurers, will spend the rest of his life in jail after a court found him guilty of corruption. Wang was accused of taking the bribes between 1997 and 2021, when he headed a number of state-owned financial institutions, including China Life Insurance, China’s Bank of Communications and China Taiping Insurance. “The amount of bribes Wang Bin accepted was particularly huge, the circumstances of the crime were particularly serious and the social impact was particularly bad,” the ruling said. He is the latest top executive to become ensnared in President Xi Jinping’s anti-corruption crackdown on the country’s $56 trillion financial sector. The sentence came more than a year after Wang, who was also the top Communist Party official at China Life, was investigated by the party’s top anti-graft agency.

Persons: Hong Kong CNN — Wang Bin, Wang, Wang Bin, Xi Jinping’s, Li Xiaopeng, Liu Liange, Bao Fan, Xi Organizations: Hong Kong CNN, China Life Insurance, China’s Bank of Communications, China Taiping Insurance, Communist Party, China, China Everbright, Bank of China Locations: China, Hong Kong, Jinan, China’s, Shandong, United States

It was billed as a modest proposal that would help heal the traumas of history and unite the country. Australia would change its Constitution to recognize the original inhabitants of the land and enshrine an advisory body in Parliament for Aboriginal people, giving them a greater say on issues that affect their lives. But over the past year, the proposal has exposed racial fault lines and become ensnared in a bitter culture war, in a country that has long struggled to reckon with its colonial legacy. And now, public polling suggests, a referendum on the matter — which will be held on Oct. 14 — is likely to fail. That result, according to Thomas Mayo, an Indigenous leader, would mean “Australia officially dismissing our very existence.”

Persons: entrench, Thomas Mayo, ” Locations: Australia

☆ How the Hawaii Fires Ensnared the State’s Third-Largest Bank
▼ + stars: | 2023-08-24 | by ( David Uberti | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/finance/banking/how-the-hawaii-fires-ensnared-the-states-third-largest-bank-45b19bbe

Persons: Dow Jones Locations: hawaii

☆ ‘Bottoms’ Review: Physical Education
▼ + stars: | 2023-08-24 | by ( Elisabeth Vincentelli | ) www.nytimes.com time to read: +2 min

It ultimately fizzes out, but “Bottoms” confirms that Seligman and Sennott are major new forces in American comedy. A lot does click here, including several delicious supporting performances, most notably the former N.F.L. running back Marshawn Lynch as the fight club’s loopy faculty adviser and Ruby Cruz as Hazel, a cool classmate whom, naturally, PJ does not even see. For most of its tight running time, “Bottoms” hovers on the cusp of greatness. BottomsRated R for typical teen language, fight-club violence and football run amok.

Persons: Seligman, Sennott’s, ”, Sennott, Marshawn Lynch, Ruby Cruz, Hazel, Annie, Zamani Wilder, Josie, —

☆ Bolsonaro Lost the Election. Now He’s Trying to Avoid Arrest.
▼ + stars: | 2023-08-22 | by ( Jack Nicas | More About Jack Nicas | ) www.nytimes.com time to read: 1 min

It has been a bad 10 months for Jair Bolsonaro. He lost re-election as Brazil’s president. Thousands of his supporters stormed Brazil’s halls of power. And he was blocked from holding elected office for seven years. Now things could soon get worse: Across Brazil, both his critics and supporters speculate that the next twist might be his arrest.

Persons: Jair, Bolsonaro Locations: Brazil, Philadelphia

☆ How Mexican narcos use remittances to wire U.S. drug profits home
▼ + stars: | 2023-08-18 | by ( Reuters Graphic | ) www.reuters.com time to read: +28 min

Now the news agency is the first to detail how Mexican drug gangs have harnessed legitimate remittance networks to repatriate their U.S. drug profits, and the factors that make this activity so difficult for authorities to detect and thwart. But authorities say Mexican drug cartels are piggybacking on this legal network to repatriate earnings from U.S. narcotics sales. A Reuters search of Mexican court records dating back to 2012 turned up no cases involving money laundering through remittances. Still, prosecutors in those cases mentioned several of those firms in court documents because they said the defendants had used their platforms to wire drug money. His office did not respond to requests for comment about law enforcement allegations that Mexican cartels are using remittances to launder drug money.

Persons: Money, ”, “, Andrés Manuel López Obrador, ” Jorge Godínez, ” Godínez, John Cornyn of, Chuck Grassley, ” Grassley, pocketing, John Horn, remitters ”, Horn, – Oscar Gustavo Perez, Bernal, Itzayana Guadalupe Perez, Susan Fiorella Ayala, Chavez –, Los, –, Jose Luis Rosales, Ocampo, Josue Gama, Perez, Thania Rosales, Dulce Rosales, – Ana Lilia Leal, Martinez, Ana Paola Banda, Maria de Lourdes Carbajal, Henri Watson, Carbajal, Sigue, Sangita Bricker, Transfast –, ” Sigue, Transfast, fanny, Juan de Dios Gámez, Rubén Rocha, BanCoppel, Banorte, hadn’t, El, López Obrador, ” López Obrador, Signos, Signos Vitales, Oquitoa, Enrique Cardenas, Tim Walz, Keith Ellison Organizations: Sinaloa Cartel, Reuters, Jalisco New, Mexican, WorldRemit, ., National Intelligence, narcos, U.S, Republican U.S, Treasury, U.S . Department of, U.S ., Financial Intelligence Unit, “, Federal Bureau of Prisons, Los Rosales, Kansas City, ”, Leal, IDT Corporation, IDT, Mastercard, Express Cellular, Prosecutors, IRS, Western Union, U.S . Department of Justice, Federal Trade Commission, ‘, Banco Azteca, Elektra, World Bank, Minnesota, Caborca Locations: CULIACÁN, Mexico, Mexican, Culiacán, Sinaloa, United States, Jalisco, U.S, Colorado, Union, Americas, London, John Cornyn of Texas, Iowa, Ohio, Colorado , Georgia , Ohio , Oklahoma , Texas, Virginia, Washington, Georgia, Atlanta, Columbus, Rosales, Nayarit, Michoacan, Missouri, Texas, Florida, New Jersey, Miami, , New Jersey, Ria, Kansas, California, New York, Western, Sinaloan, Costa Rica, BanCoppel, India, China, Mexico City, Minnesota, Arizona , Colorado , Florida , Illinois, New Mexico, Nevada, Oquitoa, Sonora

MOSCOW, Aug 15 (Reuters) - Russia on Tuesday released video footage showing an armed naval inspection unit boarding a cargo ship in the southwestern Black Sea on Sunday and questioning the captain about why the ship had not stopped when demanded to by a Russian warship. "Stop machine, stop machine," one of the armed Russians says as crew members put their hands on their heads and kneel before the Russian weapons. I am Russian naval officer - please don't shoot my group on video." The Russian officer then questions the captain through a crew translator about why the ship did not stop when asked to. "Thank you, you good day sir," the Russian officer says as he leaves.

Persons: Guy Faulconbridge, Robert Birsel Organizations: Reuters, Thomson Locations: MOSCOW, Russia, Black, Russian, Palau, Turkey, Ukraine, Izmail

Editor’s Note: A version of this story appears in CNN’s Meanwhile in the Middle East newsletter, a three-times-a-week look inside the region’s biggest stories. The drill is the latest in a flurry of Chinese activity in the Middle East, traditionally seen as the US’ backyard. According to the Wall Street Journal, the US wants Saudi Arabia to distance itself economically and militarily from Beijing in return. Four of the top 10 importers of US arms are Gulf Arab states: Saudi Arabia, Qatar, Kuwait and the UAE. Some of these purchases were driven by US restrictions on selling arms to Gulf states under the Biden administration, according to Alhasan.

Persons: ” Hasan Alhasan, “, Barack Obama’s, ”, Mohammed Baharoon, John Calabrese, …, ” Calabrese, CNN’s Becky Anderson, Reema bint Bandar Al Saud, Washington, Biden, Alhasan, China’s, Xi Jinping, ” Yun Sun, ” Alhasan, ” Baharoon Organizations: UAE CNN, United Arab Emirates, American, Washington, UAE, Middle East, International Institute for Strategic Studies, CNN, Asia Experts, East ., US, Dubai Public Policy Research Center, Middle East Institute, Wall Street Journal, China Program, China, Stimson Center Locations: Abu Dhabi, UAE, United States, China, China’s, Xinjiang, Ukraine, Gulf, Asia, Saudi Arabia, Iran, Yemen, Washington, Dubai, Russia, Saudi, Riyadh, Israel, Beijing, Europe, Arab, Qatar, Kuwait, Sun, “

Russia in July halted participation in the Black Sea grain deal that allowed Ukraine to export agricultural produce via the Black Sea and Moscow cautioned that it deemed all ships heading to Ukrainian waters to be potentially carrying weapons. "To forcibly stop the vessel, warning fire was opened from automatic weapons," the Russian defence ministry said. BLACK SEA AT WAR? Since Russia left the Black Sea grain deal, both Moscow and Kyiv have issued warnings and carried out attacks that have sent jitters through global commodity, oil and shipping markets. Ukraine also attacked a Russian oil tanker and a warship at its Novorossiysk naval base, next door to a major grain and oil port.

Persons: Vasily Bykov, Okan, Guy Faulconbridge, Nick Macfie Organizations: UN, Russian, Reuters, Thomson Locations: Russia, MOSCOW, Russian, Black, Ukraine, Moscow, Palau, Izmail, Bulgaria, Sulina, Turkey, Kyiv, Novorossiysk

☆ The FCC just fined an international network of robocallers nearly $300 million for making 5 billion calls in a three month span
▼ + stars: | 2023-08-03 | by ( Madison Hall | ) www.businessinsider.com time to read: +2 min

The FCC just fined a group of scammers a record-breaking $299,970,000. The commission said the fraudsters made 5 billion auto warranty-related scam calls in three months. Two of the men charged, Roy M. Cox and Aaron Michael Jones, had already previously been banned from making telemarketing calls. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Additionally, Insider reported that the prevalence of COVID-related phone scams have risen in 2023, three years after the virus shut down the country.

Persons: Roy M, Cox, Aaron Michael Jones, Jones Organizations: FCC, Service, Federal Communications Commission, State of, Federal Trade Commission, Medicare, Medicaid Services Locations: Wall, Silicon, State, State of Texas

☆ Even Trump’s indictments haven’t shattered the deadlock between the parties. Here’s why
▼ + stars: | 2023-08-01 | by ( Ronald Brownstein | ) edition.cnn.com time to read: +17 min

The poll found voters divided exactly in half over whether they intended to vote for Democrats or Republicans in the next Congressional election. While surveys now usually show Biden leading Trump, the president’s margin rarely exceeds his four-point margin of victory from 2020. Instead, the pandemic quickly evolved into just another front in the preexisting culture war lines of division between the parties. Yet Biden, as noted above, still maintained his 2020 lead over Trump in these seats of four percentage points. Surveys have found widespread concern among voters that Biden is too old to effectively handle the presidency.

Persons: Donald Trump’s, Trump, Joe Biden, ”, Lynn Vavreck, Franklin Roosevelt, Tony Fabrizio, John Anzalone, Biden, Fabrizio, Bill McInturff, “, ” McInturff, McInturff, Vavreck, John Sides, Chris Tausanovitch, ” Vavreck, Stormy Daniels, Anzalone, ” Anzalone, it’s Trump, Simon Rosenberg, ” Rosenberg, Rosenberg Organizations: CNN, Republican, Democratic, UCLA, Electoral College, GOP, Senate, Trump, Biden, AARP, Republicans, NBC, Bright Line, NPR, PBS, Marist, White, Whites, Democrats, Wisconsin – Locations: Anzalone, Arizona , Georgia, Michigan, Pennsylvania, Wisconsin, Trump

☆ The 'crypto couple' is pleading guilty in their alleged $4.5 billion bitcoin heist. Here's how the saga unfolded.
▼ + stars: | 2023-07-31 | by ( Michelle Mark | ) www.businessinsider.com time to read: +4 min

The "crypto couple" Ilya Lichtenstein and Heather Morgan are due for a plea hearing on August 3. The couple is expected to plead guilty to orchestrating a $4.5 billion bitcoin-laundering scheme. An attorney for both Lichtenstein and Morgan did not respond to Insider's request for comment ahead of Thursday's plea hearing. Prosecutors also alleged that Lichtenstein and Morgan had been planning to flee to Russia under new identities. Lichtenstein, whom prosecutors have described as a flight risk due to his Russian citizenship, has remained incarcerated.

Persons: Ilya Lichtenstein, Heather Morgan, ensnared, Lichtenstein, Morgan, Olivier Douliery Organizations: Service, Department of Justice, IRS, Prosecutors Locations: Wall, Silicon, Manhattan, United States, Lichtenstein, Russia

☆ Trump Media merger partner DWAC soars 50% after SEC fraud settlement
▼ + stars: | 2023-07-21 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

The social media app will be developed by Trump Media and Technology Group (TMTG). DWAC is a special purpose acquisition company, or SPAC, that announced plans to merge with Truth Social parent company Trump Media & Technology Group in October 2021. DWAC's SEC settlement dictates that the company must pay an $18 million civil penalty fee if it merges with TMTG and takes the company public. But if the merger does not occur before the Jan. 1, 2025, deadline, and if DWAC returns investors' money, the SEC has agreed to waive the penalty. It is illegal for SPACS to solicit specific merger targets ahead of an actual initial public offering filing.

Persons: Donald Trump's, DWAC, Trump Organizations: Trump Media, Technology, Securities and Exchange Commission, Social, Trump Media & Technology Group, SEC, SPACS, Florida, White House, Republican Locations: DWAC, New York, Georgia

☆ Commercial real estate is being battered by a 'hurricane' as higher interest rates bite, billionaire investor Barry Sternlicht says
▼ + stars: | 2023-07-21 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Commercial real estate is in a "Category 5 hurricane" from rate hikes, Barry Sternlicht said. The commercial real estate industry is in a "Category 5 hurricane" from the the Federal Reserve's interest rate hikes, according to billionaire investor Barry Sternlicht. After months of tight monetary policy, the Fed paused its interest-rate hiking cycle in June amid rising fears about the commercial real estate and banking sectors. A combination of higher interest rates, a credit squeeze, and remote work trends are squeezing the commercial real estate industry. Still, he remains optimistic: "When the Fed basically tells you they're done, I think real estate will catch a very firm bid."

Persons: Barry Sternlicht, David Rubenstein, Sternlicht Organizations: Bloomberg, Sternlicht's Starwood Capital Group, Starwood Capital, Fed Locations: Atlanta

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