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☆ Forward guidance could become trap for central banks-economist
▼ + stars: | 2023-05-31 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

But by incentivising central banks to commit to keep rates low for long, forward guidance becomes a constraint when they need to swiftly tighten policy to rein in inflation, he said. "Recent experience suggests forward guidance can become a trap," Orphanides said. "Compared to forward guidance, clearer communication of a central bank's reaction function would avoid the trap and improve policy outcomes," he added. BOJ Governor Kazuo Ueda, who was present at the conference, said the very nature of forward guidance meant central banks took the risk of falling behind the curve whenever they were using the tool. Central banks around the world followed in the footsteps of the BOJ in introducing unconventional monetary easing steps, including forward guidance, to combat the 2007-2008 global financial crisis.

Persons: Athanasios Orphanides, Orphanides, it's, Kazuo Ueda, Leika Kihara, Jacqueline Wong Organizations: Bank of Japan, Massachusetts Institute of Technology, U.S . Federal Reserve, European Central Bank, Thomson Locations: TOKYO, Central, United States, Europe

☆ Academics weigh in on how BOJ's Ueda can exit easy policy
▼ + stars: | 2023-05-19 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

At the meeting on Monday, Ueda - himself a Massachusetts Institute of Technology (MIT)-educated academic - said the BOJ will maintain ultra-loose policy as it would take time for inflation to sustainably hit its 2% target, the minutes showed. Keeping long-term interest rates low for too long would also expose Japan to speculative market attack, Kiyotaki said. University of Tokyo professor Tsutomu Watanabe said Japan's inflation expectations have heightened to levels close to those in the United States and Europe, the minutes showed. But Shinichi Fukuda, also an University of Tokyo academic, said achieving wage growth alone won't fix economic woes. "Japan is no longer in a state of deflation thanks to the BOJ's extraordinary monetary easing.

☆ The AI play you haven't heard of yet
▼ + stars: | 2023-05-19 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

This under-the-radar software stock could be the next big artificial intelligence winner investors are ignoring, according to some Wall Street analysts. Dynatrace , a Massachusetts-based software company that harnesses artificial intelligence for a host of use cases, including business analytics and application security, could win big in the latest AI arms race. DT YTD mountain Dynatrace shares in 2023 BMO Capital Markets' Keith Bachman called the stock a "clear leader" within AI in a Wednesday note to clients. He views compelling growth and margin opportunities for Dynatrace through its Grail analytics tool that uses AI to help users better understand their data. Given his conviction in Dynatrace's AI potential, Bachman raised his price target to $55 from $50 a share reflecting about 12% upside from Thursday's close.

OAKLAND, California, May 4 (Reuters) - Impact Nano, a Massachusetts-based startup that makes specialty chemicals for the semiconductor industry and others, said on Thursday it raised $32 million in funding from investors including Intel Capital and Goldman Sachs Asset Management. And they are made in regions of political instability," said Matthew Stephens, CEO and co-founder of Impact Nano. Stephens said Impact Nano is inventing new ways to produce chemicals that chip makers use. Stephens also said Impact Nano is looking to apply for some of the CHIPS Act funding that will support the suppliers for semiconductor manufacturing. Goldman Sachs Asset Management is part of Goldman Sachs Group Inc (GS.N) and Intel Capital is the investment arm of U.S. chip giant Intel Corp (INTC.O).

The family of three attended the appointment as a group with five other Haitian asylum-seekers. One family among thousandsDieuvena’s family is among thousands entering the US, as the government tries to process an increasing number of migrants. While one member of their group knew someone in Boston, Dieuvena said her family has neither friends nor family in the city. “The person who gave her this little corner to sleep is not around,” Gabeau told CNN, “so she doesn’t know where to go, what to do because she doesn’t know the area. Dieuvena said if she doesn’t find anything by the end of the day Sunday, she doesn’t know what they’ll do.

Photo Illustration: Madeline MarshallFederal prosecutors and the defense team representing a Massachusetts Air National Guardsman charged with taking and sharing highly classified intelligence documents argued ahead of a high-profile court hearing Thursday over whether he should remain in custody while his criminal case proceeds. Prosecutors are seeking Airman First Class Jack Teixeira’s continued detention, saying he might still have access to sensitive material that could aid foreign adversaries. He has been jailed since his arrest earlier this month.

☆ Prosecutors say they fear foreign enemies could try to recruit Pentagon leak suspect Jack Teixeira because of what he knows and his limited net worth — half of which is in guns
▼ + stars: | 2023-04-27 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Federal prosecutors want Pentagon leak suspect Jack Teixeira to remain in custody. They argue in court documents the 21-year-old could flee the country, or harm US national security. They fear he might he tempted to flee the country or become a person of interest to US adversaries. Court documents filed Wednesday night show prosecutors expressing concern that Teixeira's release could pose a tremendous risk to US national security. "The damage the Defendant has already caused to the US national security is immense," they wrote in the court documents.

☆ Airman Accused of Leak Has History of Racist and Violent Remarks, Filing Says
▼ + stars: | 2023-04-27 | by ( Glenn Thrush | ) www.nytimes.com time to read: +1 min

WASHINGTON — Jack Teixeira, the Massachusetts Air National Guardsman accused of posting classified documents online, repeatedly tried to obstruct federal investigators and has a “troubling” history of making racist and violent remarks, Justice Department lawyers said in a court filing late Wednesday. In an 18-page memo, released before a detention hearing scheduled for Thursday in a Massachusetts federal court, the department’s lawyers argued that Airman Teixeira needed to be detained indefinitely because he posed a “serious flight risk” and might still have information that would be of “tremendous value to hostile nation states.”Airman Teixeira tapped into vast reservoirs of sensitive information, an amount that “far exceeds what has been publicly disclosed” so far, they wrote. Prosecutors pointedly questioned Airman Teixeira’s overall state of mind, disclosing that he was suspended from high school in 2018 for alarming comments about the use of Molotov cocktails and other weapons, and trawled the internet for information about mass shootings. He engaged in “regular discussions about violence and murder” on the same social media platform, Discord, that he used to post classified information, the filing said, and he surrounded his bed at his parents’ house with firearms and tactical gear.

☆ Ex-Harvard Professor Sentenced in China Ties Case
▼ + stars: | 2023-04-26 | by ( Gina Kolata | ) www.nytimes.com time to read: +3 min

For his work on nanotechnology, he had been seen by some as a contender for the Nobel Prize. But he also secretly accepted money from China, which had established a government initiative, the Thousand Talents program, to gain access to scientific knowledge and expertise, often paying scientists lavishly. When questioned about his involvement with Thousand Talents in 2018 by federal investigators, he denied it. Why It MattersDr. Lieber’s conviction in December 2021 resulted from the China Initiative, an effort launched in 2018, under the Trump administration, to identify scientists suspected of sharing sensitive information with China. But critics said that the China Initiative had unfairly targeted academic researchers of Asian descent.

☆ What Happens Next in the Leaked Documents Case
▼ + stars: | 2023-04-19 | by ( Glenn Thrush | Julian E. Barnes | ) www.nytimes.com time to read: +1 min

WASHINGTON — Jack Teixeira, a Massachusetts Air National Guardsman accused of posting classified documents about the war in Ukraine on social media, is expected to appear in a Massachusetts federal court on Thursday, hours after the government said in a memo that he continued to be a national security risk. The hearing for Airman Teixeira, who was arrested April 13 on two separate counts related to the unauthorized handling and publication of classified materials, had been scheduled for federal court in Boston earlier this month. But his lawyer, Brendan Kelley, requested more time to address the government’s arguments, and the magistrate judge, David. Prosecutors often reveal new details of their case at detention hearings, but only enough information to argue that the defendant is a potential flight risk. The information disclosed late Wednesday was an exception — it sought to portray Airman Teixeira as violent and racist as well as an unpredictable threat.

☆ Judge delays hearing for accused US intel leaker Jack Teixeira because his defense says it needs 'more time'
▼ + stars: | 2023-04-19 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

A 21-year-old charged with leaking secret US military documents had his detention hearing delayed. Jack Teixeira, a Massachusetts Air National Guardsman, appeared briefly in federal court Wednesday. A judge had granted a motion to delay the detention hearing because the defense needs more time. But earlier on Wednesday, Hennessy granted a request by attorneys to delay Teixeira's detention hearing by around two weeks. Jack Teixeira, 21, has been charged in connection with the leak of secret Pentagon documents.

☆ Do I Need Rental Car Insurance?
▼ + stars: | 2023-04-17 | by ( ) www.wsj.com time to read: +10 min

By Ben LuthiWhen you rent a car, the most stressful decision just might be whether to accept the rental car insurance. Rental car insurance can provide short-term coverage if you need to rent a vehicle on vacation or while your car is in the shop. Types of rental car insuranceCar rental companies offer four different types of car rental insurance coverage, most of which may already be covered by your personal auto policy. However, note that liability protection and insurance for personal injuries or belongings are not included in credit card rental car insurance. When do you need rental car insurance?

A Massachusetts Air National Guardsman arrested in connection with a leak of purported highly classified intelligence documents was charged Friday as federal prosecutors offered new details about how they think some of the government’s most closely guarded material ended up online. Prosecutors charged Jack Teixeira with unauthorized retention and transmission of national defense information and unauthorized removal and retention of classified documents or material, in a brief hearing in U.S. District Court for the District of Massachusetts.

☆ A Steam profile, Instagram, and a kitchen table helped identify the 21-year-old accused of posting classified US intel online
▼ + stars: | 2023-04-14 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

The New York Times identified Jack Teixeira, the man accused of leaking US intel online. They used details like photos of a kitchen countertop and his gaming username to identify him. His arrest came after dozens of Pentagon documents were posted online, a striking breach in US information security which exposed secret details of the Ukrainian and Russian militaries. Per The Times, "the same interior décor is visible in photographs of the family home posted online by one of Airman Teixeira's immediate relatives." The Times reported that a photo posted by his sister showed "a kitchen countertop that appeared identical to the surface on which the classified documents were photographed."

☆ Pentagon leak suspect Jack Teixeira was reading a book on a porch when the feds showed up to arrest him
▼ + stars: | 2023-04-14 | by ( John Haltiwanger | Jake Epstein | ) www.businessinsider.com time to read: +4 min

Jack Teixeira, 21, was arrested in connection with the recent leak of secret military documents. Teixeira is a Massachusetts Air National Guardsman who worked in the 102nd Intelligence Wing. He was reading a book on a porch when federal agents arrived to arrest him. Teixeira worked in the 102nd Intelligence Wing of the Massachusetts Air National Guard. The secret military documents that were leaked on various social media platforms exposed US spying on allies and adversaries alike.

☆ Jack Teixeira, the alleged top secret documents leaker, searched his government computer for 'leak' to see if investigators were onto him: prosecutors
▼ + stars: | 2023-04-14 | by ( Chris Panella | Jake Epstein | ) www.businessinsider.com time to read: +4 min

Alleged leaker Jack Teixeira searched his government computer for "leak," prosecutors say. Teixeira was arrested Thursday in connection with the top secret military document leak. According to the criminal complaint, Teixeira, 21, completed the search on classified networks on April 6. The documents contain secret information about US allies, like Israel, Egypt, and South Korea, as well as adversaries, like North Korea, China, and Russia. That clearance would have given him access to the classified documents leaked online.

☆ Pentagon document leak suspect taken into custody, sources say
▼ + stars: | 2023-04-13 | by ( Associated Press | ) www.businessinsider.com time to read: +1 min

The suspected Pentagon leaker was reportedly arrested Tuesday by federal agents in Dighton, Massachusetts. Investigators believe the leaker is Jack Teixeira, 21, a guardsman specializing in intelligence. The leaker shared highly classified documents about the Ukraine war online. Investigators believe that the guardsman, who specializes in intelligence, led the online chat group where the documents were posted. FBI agents converged Thursday at Teixeira's Massachusetts home and heavily armed tactical agents took a man wearing a T-shirt and shorts into custody outside the property.

☆ Jamie Dimon is riding to the rescue again. This time, he's poised to come out on top.
▼ + stars: | 2023-03-31 | by ( Carter Johnson | ) www.businessinsider.com time to read: +15 min

Why, then, has Dimon been so willing to swing back into action in the wake of Silicon Valley Bank's collapse? But it's starting to look like JPMorgan — and Dimon — will end up winners no matter how things turn out. In backstopping First Republic, JPMorgan helps a client and a bank that experts say would fit nicely into its business. By saving First Republic, JPMorgan also stands to gain goodwill from Silicon Valley startups, which are customers of the smaller bank. The paper also reported that regulators asked Dimon, Bank of America, and other banks to buy Silicon Valley Bank and pay out depositors over the insured limit.

☆ A real estate investor who grosses more than $100,000 in monthly rental income explains the kind of account he uses that safeguards his money better than an FDIC-insured account would
▼ + stars: | 2023-03-22 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

To better protect his cash, an investor bringing in six figures a month uses a "DIF member bank." The Depositors Insurance Fund (DIF) is a private insurance fund that banks can pay for to provide extra insurance to their customers. "The FDIC covers you for the first $250,000, but DIF covers you for anything over that," the real estate investor, who grosses over $100,000 per month from rental income, told Insider. That doesn't mean you have to live in Massachusetts to use a DIF member bank. As the DIF website explains: "Several DIF member banks have branches in neighboring states.

☆ Biden promised 'no more drilling on federal lands, period.' He just broke that pledge to approve a massive oil project in Alaska.
▼ + stars: | 2023-03-13 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

On the campaign trail in 2020, Biden promised to ban all new oil drilling on federal land. But he just broke a key campaign pledge to stop all new oil drilling on federal land in a major way. A Biden administration official insisted that the government's hands were tied by leases granted to ConocoPhillips by prior administrations. Despite these protections, the Willow project is expected to come with significant environmental costs, aside from contributing to planet-warming emissions. March 13, 2023: This story has been updated with comment from a Biden administration official.

Then came the derailment of a Norfolk Southern train on February 3, releasing toxic chemicals into the air and nearby water, and he fears crashing the value of his home. There are too many unknowns.”Stewart, 65, recently voiced his fury and sadness about what he lost to Norfolk Southern CEO Alan Shaw on a February 22 Town Hall about the derailment on CNN. Homeowners are worried that in addition to any health risks from the chemical release, the derailment has greatly diminished the value of their homes. I think they’re going to be in the crosshairs of the accountants of Norfolk Southern saying ‘We’re not going to pay full compensation.’”Norfolk can afford to compensate homeownersPaying the homeowners and businesses wouldn’t necessarily be difficult for Norfolk Southern. Those values are only a fraction of the money that Norfolk Southern earns.

☆ Justice Department sues to block JetBlue’s acquisition of Spirit Airlines
▼ + stars: | 2023-03-07 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

The Justice Department on Tuesday sued to block JetBlue Airways ' $3.8 billion proposed takeover of budget carrier Spirit Airlines , the Biden administration's latest attempt to prevent industry consolidation. Spirit Airlines agreed to sell itself to JetBlue last summer after a long battle for the carrier between JetBlue and Frontier Airlines . A JetBlue-Spirit combination would be the first major U.S. airline merger since Alaska Airlines' takeover of Virgin America in 2016. The Justice Department at the time required Alaska to scale back its code share with American Airlines to clear the deal. Separately, JetBlue is awaiting a ruling on its Northeast partnership with American Airlines, which the Justice Department sued to undo in 2021.

☆ Man accused of trying to stab attendant with a broken metal spoon on a United flight leaned over and asked another passenger about the emergency exit door before attack: feds
▼ + stars: | 2023-03-07 | by ( Erin Snodgrass | Azmi Haroun | Graham Rapier | ) www.businessinsider.com time to read: +4 min

A man was arrested and charged after officials say he tried to stab a flight attendant on a United flight. Francisco Severo Torres told authorities he made a weapon out of a broken metal spoon. Passengers and flight crew were eventually able to tackle and restrain Torres. A flight attendant investigated and found the handle had been moved toward the unlocked position, prosecutors said. Investigators later determined that the metal object Torres used to attack the flight attendant was a metal spoon that had the bowl broken off, according to prosecutors.

☆ Another 'close call': A JetBlue flight landing in Boston had to take 'evasive action' to avoid a private jet that crossed the runway
▼ + stars: | 2023-02-28 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +4 min

A JetBlue flight landing at a Massachusetts airport had a "close call" with a private jet, the FAA said. The JetBlue pilot had to take "evasive action" to avoid the private jet on the runway on Monday. "The pilot of the JetBlue aircraft took evasive action and initiated a climb-out as the Learjet crossed the intersection," said the FAA. Two weeks ago, FAA acting administrator Billy Nolen issued a "safety call to action" following recent near-catastrophic "close calls" on runways and other plane incidents. And in February, a landing FedEx plane in Texas had to pull up at the last minute to avoid landing on a Southwest flight that was headed to Cancun.

☆ Authorities seek arrest of man who allegedly mined crypto under a high school and stole $18,000 of electricity
▼ + stars: | 2023-02-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

In December 2021, a town found a secret crypto mining operation underneath a Massachusetts high school. Police are looking to arrest Nadeam Nahas, the town's former assistant facilities director. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. The town discovered 11 computers, electrical wiring, and ductwork in the crawl space of Cohasset High School in December 2021. According to court documents, authorities concluded a cryptocurrency mining operation was "unlawfully attached to the school electrical system," and alleged Nahas stole $17,492.57 of electricity from the school by running the computers nonstop from April to December of 2021.

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