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NEW YORK (AP) — For a while, Sam Bankman-Fried tried to convince politicians and the public that he was the next J.P. Morgan. The trial of Bankman-Fried, the founder of the failed cryptocurrency brokerage FTX, will begin Tuesday with jury selection. Political Cartoons View All 1190 ImagesThe 31-year-old Bankman-Fried founded FTX in 2019, and it grew rapidly. Bankman-Fried is expected come face-to-face with his former lieutenants at FTX for the first time since its collapse. She has previously said in a statement through her lawyers that she knew funneling FTX customers' money into Alameda was wrong.

Persons: Sam Bankman, Fried, Bernie Madoff, ”, Michael Zweiback, Zweiback, Zalduendo, FTX, SBF ”, J.P, Morgan, Tiger Woods, Justin Timberlake, Bankman, John Ray III, Caroline Ellison, Gary Wang, Ryan Salame, Salame, Ellison, funneling, Christine Adams, Adams, Andrew Ross Sorkin, Judge Lewis A, Kaplan, Changpeng Zhao, Larry Neumeister Organizations: Southern, of, Republicans, “ Prosecutors, Zalduendo LLP, Stanford University, Alameda Research, Alameda, Enron, FTX, Bankman, Prosecutors, The New York Times, NFTs, Securities and Exchange Commission, Binance, SEC Locations: Morgan, of New York, Washington, cryptocurrencies, Silicon Valley, FTX, The Bahamas, Albany, Alameda, Bahamas, New York, Palo Alto , California

During the third quarter, U.S. dealmaking contributed to a larger-than-usual share of global activity and offset a decline in volumes in Europe and Asia Pacific, accounting for about half of global volumes. Deal volumes in Europe and Asia Pacific fell 31% and 9%, respectively. To date, private equity deal volumes have slumped 48% to $313.73 billion, compared to the same period last year. Deal activity driven by activist shareholders was muted as several big-name activists reached settlements with corporate boardrooms. Dealmaking in technology, which typically accounts for the largest share of deal volumes, has fallen 51% so far this year.

Persons: Brendan McDermid, dealmaking, We're, Melissa Sawyer, Sullivan, Cromwell, dealmakers, headwinds, Tony Kim, Roark Capital's, ”, Andre Kelleners, Goldman Sachs, Naveen Nataraj, Kappa, WestRock, it’s, Rob Kindler, Weiss, Garrison, it'll, Anton Sahazizian, Anirban Sen, Timothy Gardner Organizations: REUTERS, Cromwell LLP, Asia Pacific, Investment, U.S . Steel, Centerview Partners, U.S . Investment, Evercore Inc, Cisco, Splunk Inc, Fidelity National Information Services, Reuters, Paul, Moelis, Thomson Locations: New York City, U.S, United States, Europe, Asia, Cleveland, Rifkind, Wharton, New York, London

☆ How to avoid getting scammed out of your home or becoming a victim of land fraud
▼ + stars: | 2023-09-27 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +7 min

Gordon isn't the only victim of this type of fraud — known as home-title fraud, land fraud, or seller-impersonation fraud — where scammers impersonate the rightful owner of a property by forging documents in order to sell it. Petrescu and Gordon share a few measures property owners can implement to help stop land fraud from happening to them. That may seem like an obvious one, but for a vacant piece of property, owners might forgo that extra security. He used the same title company to buy the land and to refinance it a year later. "Here we have the same title company that I used, and now the fraudster's using the same title company," Gordon said.

Persons: —, William Gordon's, Gordon isn't, scammers, Daniel Kenigsberg, Victor Petrescu, Levine Kellogg Lehman Schneider, Grossman, " Petrescu, Petrescu, Gordon, William Gordon William Gordon Another, there's, hadn't, Victor Petrescu Levine Kellogg Lehman Schneider, he'll Organizations: FBI, MLS, Service Locations: Arizona, Tucson, Fairfield , Connecticut, Miami, Petrescu, Pima County , Arizona

☆ Cough syrup deaths overseas prompt US crackdown on toxic testing
▼ + stars: | 2023-09-26 | by ( Patrick Wingrove | ) www.reuters.com time to read: +6 min

Defendants and lawyers attend a court hearing in the case of child deaths linked to contaminated cough syrups, in Tashkent, Uzbekistan August 16, 2023. Cough syrups made in India and Indonesia have been linked to deaths of more than 300 children globally. The medicines were found to contain high levels of DEG and EG, leading to acute kidney injury and death. IMPORT ALERTSThe FDA warning letters give manufacturers an opportunity to fix quality control problems or face penalties. In addition, 13 U.S. makers of consumer products like earwax removers, nasal spray, hand soap and shampoo, including Lex, were threatened with possible seizures and injunctions by the FDA.

Persons: Stringer, Paul Hastings, Peter Lindsay, syrups, Lex, Charlene Paz, Greg Landry, Patrick Wingrove, Rishika, Joyce Lee, Michele Gershberg, Bill Berkrot Organizations: REUTERS, U.S, FDA, Drug Administration, EG, Reuters, South, South Korea's LCC, LCC, Daxal Therapeutics, Herbals, South Korea’s KM Pharmaceutical, Sangleaf Pharma, Massachusetts College of Pharmacy & Health Sciences, Thomson Locations: Tashkent, Uzbekistan, U.S, India, South Korea, Switzerland, Canada, Egypt, Washington ,, Indonesia, United States, Florida, South Korea's, South, New York, Rishika Sadam, Hyderabad, Seoul

JPMorgan did not admit any wrongdoing in the settlement, which will give $55 million to Virgin Islands charities and the American territory's anti-trafficking efforts. The remaining $20 million will cover attorneys' fees incurred by the Virgin Islands as part of the litigation in federal court in New York. The Virgin Islands said the deal "includes several substantial commitments by JPMorgan Chase to identify, report, and cut off support for potential human trafficking, including establishing and implementing comprehensive policies and procedures." Virgin Islands Attorney General Ariel Smith said the agreement settles what was the first enforcement action against a bank for facilitating and profiting from human trafficking. The Virgin Islands previously obtained a $105 million settlement from Epstein's estate, and another $62.5 million from billionaire investor Leon Black to resolve potential claims related to Epstein.

Persons: JPMorgan Chase, Jeffrey Epstein, Ghislaine Maxwell, Rod Stewart, Cipriani, Joe Schildhorn, Patrick McMullan, Jes Staley, Epstein, Staley, Ariel Smith, Smith, Boies Schiller Flexner, Stephanie Keith, Leon Black, Jamie Dimon, Jed Rakoff, Virgin Organizations: JPMorgan, U.S . Virgin, Virgin Islands, Virgin, Barclays Plc, Bloomberg, Getty Images Bloomberg, Getty, Treasury Department Locations: New York, New York City, U.S, Manhattan, Virgin, Epstein's, Florida

Those lawsuits accuse all three of violating Section 1981 of the 1866 Civil Rights Act, a law enacted after the Civil War that guarantees all people the same right to make and enforce contracts "as is enjoyed by white citizens." "All of our nation's civil rights laws - including the 1866 Civil Rights Act - enshrine the command that someone's race and ethnicity must never be used to help or harm them in public and private employment and contracting," Blum, who is white, told Reuters in an email. FREE SPEECH ARGUMENTFearless Fund has brought in prominent lawyers to defend it, including civil rights attorneys Ben Crump and Alphonso David, who during a news conference called Blum's use of the Civil War-era law "cynical." They argue that the rules for the grants are merely criteria for being eligible for a "discretionary gift" and do not create a "contract" subject to the civil rights law. Blum's group countered that Fearless Fund's argument would ironically undermine the very causes it favors by essentially invalidating Section 1981 and deeming racial discrimination protected by the First Amendment.

Persons: Edward Blum, Morrison, Foerster, Edward Blum's, Thomas, Fearless Fund's, Bill Clinton, Blum, Sarah Hinger, Hinger, Keshia Knight Pulliam, Arian Simone, Ayana Parsons, Blum's, Strivers, Ben Crump, Alphonso David, Nate Raymond, Alexia Garamfalvi, Will Dunham Organizations: Fair, Harvard University, Supreme, Edward Blum's American Alliance for Equal Rights, University of North, U.S, District, Democratic, Reuters, American Civil, Racial, Thomson Locations: Boston , Massachusetts, U.S, University of North Carolina, Atlanta, Black, Blum's Texas, Colorado, Boston

☆ How companies are embracing generative AI...or not
▼ + stars: | 2023-09-22 | by ( Jennifer Korn | ) edition.cnn.com time to read: +9 min

New York CNN —Companies are struggling to deal with the rapid rise of generative AI, with some rushing to embrace the technology as workflow tools for employees while others shun it – at least for now. Some companies are enacting internal bans on generative AI tools as they work to better understand the technology, and others have already begun to introduce the trendy tech to employees in their own ways. Among media companies that produce news, Insider editor-in-chief Nicholas Carlson has encouraged reporters to find ways to use AI in the newsroom. Of the companies currently banning ChatGPT, some are discussing future usage once security concerns are addressed. “I don’t think it’s that companies are against AI and against machine learning, per se.

Persons: JPMorgan Chase, Northrup, it’s, Mark McCreary, Fox Rothschild, McCreary, “, ” Jonathan Gillham, Nicholas Carlson, ”, ChatGPT, Larry Feinsmith, ” Northrop Grumman, “ They’re, they’re, ” Vern Glaser, Cheryl Ainoa, Donna Morris, PwC, “ Lilli ”, Lilli, Jacky Wright, EY.ai, OpenAI, ” Glaser Organizations: New, New York CNN — Companies, JPMorgan, Northrup Grumman, Apple, Verizon, Spotify, Accenture, Fox, Fox Rothschild LLP, CNN, “ Companies, Gannett, The Columbus Dispatch, UBS, JPMorgan Chase, Wall Street Journal, Entrepreneurship, Enterprise, University of Alberta, Walmart, Emerging Technologies, Consulting, McKinsey, PwC, ChatGPT, Fortune, ChatGPT Enterprise, Microsoft, Bing Locations: New York, ChatGPT, America

☆ Cisco beefs up cybersecurity play with $28 bln Splunk deal
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

The logo of networking gear maker Cisco Systems Inc is seen during GSMA's 2022 Mobile World Congress (MWC) in Barcelona, Spain February 28, 2022. REUTERS/Nacho Doce Acquire Licensing RightsSept 21 (Reuters) - Cisco Systems (CSCO.O) on Thursday agreed to acquire cybersecurity company Splunk (SPLK.O) for about $28 billion, in its biggest acquisition ever that would bolster its network security business. "Combined, Cisco and Splunk will become one of the world's largest software companies and will accelerate Cisco's business transformation to more recurring revenue," the companies said in a joint statement. Cisco shares were down nearly 5% in premarket, while trading in Splunk stock was halted. The deal, which was unanimously approved by the boards of both Cisco and Splunk, is expected to close by the end of the third quarter of 2024 subject to regulatory approvals.

Persons: Simpson Thacher, Moore, Morgan Stanley, Flom, Splunk, Yuvraj Malik, Anil D'Silva Organizations: Cisco Systems Inc, Congress, REUTERS, Cisco Systems, Splunk's, Cisco, Splunk, Tidal Partners, Bartlett, Qatalyst Partners, Thomson Locations: Barcelona, Spain, premarket, Cravath, Slate, Bengaluru

TORONTO, Sept 18 (Reuters) - Canada's plan to bring down food prices by tightening regulation could backfire and fail, raising the cost of doing business in the country without providing relief to consumers, lawyers and economists said. Canada's weak competition law has been long blamed for allowing a few players to dominate industries ranging from banks to telecoms and groceries. The proposed amendment will drop the so-called efficiencies defense provision, giving Canada's antitrust regulator - the Competition Bureau - the power to block deals it deems as increasing market concentration, irrespective of any cost efficiencies. Trudeau's move comes as many Canadians reel under an affordability crisis with food prices jumping 25% since the start of the COVID-19 pandemic in 2020. Food inflation stood at around 35% in Germany and the United Kingdom - well above the 25% level of food inflation in Canada since the start of the pandemic, Scotiabank research showed.

Persons: Justin Trudeau, Pierre Poilievre, Omar Wakil, Torys, Wakil, Derek Holt, Denny Thomas, Deepa Babington Organizations: Competition, Liberal, Conservative, Loblaw Co, Co, Metro Inc, Scotiabank, Antitrust, Rogers Communications, Shaw Communications, Thomson Locations: Canada, Ukraine, Germany, United Kingdom

☆ Cash-squeezed developer Country Garden faces another dollar coupon deadline
▼ + stars: | 2023-09-18 | by ( Xie Yu | ) www.reuters.com time to read: +3 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. A Country Garden spokesperson did not immediately respond to Reuters request for comment on Monday about its latest debt repayment obligation. Country Garden last month warned of default risks if its financial performance continues to deteriorate. Last week, onshore bondholders approved to extend repayments of seven other Country Garden bonds by three years. Many creditors believe that Country Garden will have to restructure its offshore debt if it doesn't get liquidity support soon.

Persons: Aly, Sandra Chow, Chow, Kim, Ashurst, Xie Yu, Sumeet Chatterjee Organizations: Shanghai Country Garden, REUTERS, HK, London, Thomson Locations: Shanghai, China, HONG KONG, Beijing, Asia, Pacific, Hong Kong, New York, Lincoln

☆ Meet the Black students who were instrumental in developing the first Covid-19 shots
▼ + stars: | 2023-09-15 | by ( Jacqueline Howard | ) edition.cnn.com time to read: +10 min

Among about two dozen scientists in Graham’s lab were three young students: Olubukola Abiona, Geoffrey Hutchinson and Cynthia Ziwawo. What the world didn’t know at the time was that those three students — Abiona, Hutchinson and Ziwawo — were doing the foundational work for those vaccines to eventually save lives. Geoffrey Hutchinson served in the Peace Corps and taught chemistry to high school students in Mozambique. The fruits of Abiona, Hutchinson and Ziwawo’s labor were evident this week as the United States began to roll out updated versions of the Moderna and Pfizer/BioNTech Covid-19 vaccines. Abiona, Hutchinson and Ziwawo all confirmed Wednesday that although they haven’t made their appointments yet, they plan to get the updated shots.

Persons: Barney Graham’s, Olubukola Abiona, Geoffrey Hutchinson, Cynthia Ziwawo, “, Graham, ‘, ’ ”, Hutchinson, ”, ” Ziwawo, Anthony Fauci, — Abiona, Ziwawo —, Ziwawo, Kizzmekia Corbett, ” Corbett, David Satcher, he’s, Valerie Montgomery Rice, “ They’re, Abiona, Hannah Montana, Austin Steele, CNN Abiona, BioNTech, “ It’s, Dr, Sanjay Gupta Organizations: CNN, Vaccine Research, National Institutes of Health, University of Washington, “, Vaccine Research Center, National Institute of Allergy, Diseases, Moderna, Morehouse School of Medicine, David Satcher Global Health Equity Institute, Association of American Medical Colleges, NIH, Disney, David Satcher Global Health Equity Summit, KPMG LLP, Indiana University School of Medicine, Case Western Reserve University, Peace Corps, United States, Pfizer, CNN Health, FDA, Food and Drug Administration, US Centers for Disease Control Locations: China, Bethesda , Maryland, Ziwawo, United States, Atlanta, Graham’s, Nigeria, Mozambique, Abiona, United

☆ Sarah Everard: London Met police pay "substantial damages" and apolgize to women held at vigil
▼ + stars: | 2023-09-14 | by ( Sharon Braithwaite | ) edition.cnn.com time to read: +4 min

CNN —Two women who were arrested while attending a Sarah Everard vigil in London in 2021 have been paid damages and received an apology from the Metropolitan Police. A lawyer’s statement on Thursday confirmed that the London police force had apologized and agreed to pay “substantial” damages to the women, Patsy Stevenson and Dania Al-Obeid. “Together with making payments of substantial damages to Dania Al-Obeid and Patsy Stevenson, the MPS has issued an apology,” the statement by law firm Bindmans LLP reads. Police detain Patsy Stevenson at the 2021 vigil on London's Clapham Common. Hannah McKay/Reuters‘Tiring and difficult’ processIn a statement published by Bindmans LLP, Patsy Stevenson said the process had been a “tiring and difficult” one.

Persons: Sarah Everard, Patsy Stevenson, Dania, Everard, Stevenson, Bindmans, ‘, ”, Patsy, Hannah McKay, it’s, ” Stevenson, “ I’m, Obeid, Dylan Martinez, “, ” “ Organizations: CNN, Metropolitan Police, London police, Met, MPS, Metropolitan Police Service, Reuters, Bindmans LLP, Met Police Locations: London, Clapham Common, Clapham

☆ US Senate committee to consider Biden’s Republican nominees to FTC
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

Signage is seen at the Federal Trade Commission headquarters in Washington, D.C., U.S., August 29, 2020. REUTERS/Andrew Kelly Acquire Licensing RightsSept 13 (Reuters) - A U.S. Senate committee will meet next week to consider President Joe Biden's nomination of Virginia Solicitor General Andrew Ferguson and Utah Solicitor General Melissa Holyoak to fill Republican slots at the Federal Trade Commission (FTC). Senator Maria Cantwell, who chairs the Senate Committee on Commerce, Science and Transportation, said she would convene a full nominations hearing on Sept. 20. Ferguson was chief counsel to U.S. Senate Republican Leader Mitch McConnell from 2019 until 2021. Holyoak is the Utah Solicitor General with the Utah Attorney General's Office.

Persons: Andrew Kelly, Joe Biden's, Andrew Ferguson, Melissa Holyoak, Lina Khan, Maria Cantwell, Ferguson, Mitch McConnell, Lindsey Graham, Chuck Grassley, Holyoak, Myers, Dan Whitcomb, Josie Kao Organizations: Federal Trade Commission, Washington , D.C, REUTERS, U.S, Senate, FTC, Democratic, Commerce, Science, Transportation, Senate Republican, Utah Attorney General's, Myers LLP, Hamilton Lincoln Law Institute, Enterprise Institute's Center, Thomson Locations: Washington ,, Utah

☆ Former US SEC chair calls for companies to disclose China risk
▼ + stars: | 2023-09-12 | by ( Carolina Mandl | ) www.reuters.com time to read: +2 min

Jay Clayton, former chairman of the SEC, speaks during the 13D Monitor's Active-Passive Investor Summit in New York City, U.S., October 18, 2022. In his testimony, the former Securities and Exchange Commission (SEC) chair proposed that companies with market capitalizations above $50 billion or with China-based revenues or costs above $10 billion unveil their exposure to the world's second biggest economy. He also recommended those companies explain how their operations would be affected in the event of a disruption in U.S.-China economic ties. Clayton's views as the former SEC chair still carry weight among Washington policymakers, though he is no longer in government. If the level of risk is decreased, they will invest," he said, adding more disclosure would reduce systemic risk.

Persons: Jay Clayton, Brendan McDermid, Cromwell, Clayton, Jim Chanos, Anne Stevenson, Yang, Donald Trump's, Carolina Mandl, Michelle Price, Chizu Organizations: SEC, REUTERS, Sullivan, Big U.S, Chinese Communist Party, Wall, Securities and Exchange Commission, Thomson Locations: New York City, U.S, Big, China, Wall Street, Washington, York, New York

Signage is seen at the headquarters of the U.S. Securities and Exchange Commission (SEC) in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNEW YORK, Sept 12 (Reuters) - The U.S. Securities and Exchange Commission on Tuesday said it has charged a former national office leader at audit firm Marcum LLP over quality control failures, the regulator said in a statement. The SEC said Alfonse Gregory Giugliano, a certified public accountant, failed to sufficiently address and remediate deficiencies in the firm's quality control system. In his role as a National Assurance Services Leader, he was aware of numerous deficiencies in Marcum's quality control system, the SEC said. The SEC in June charged marcum with a $10 million penalty for standards violations related to its audit work for hundreds of special purpose acquisition companies, or SPACs.

Persons: Andrew Kelly, Marcum, Alfonse Gregory Giugliano, Giugliano, Nikola, Chris Prentice, Nick Zieminski Organizations: U.S . Securities, Exchange Commission, SEC, Washington , D.C, REUTERS, National Assurance Services Leader, DraftKings Inc, Thomson Locations: Washington ,

☆ UK, Singapore partner to boost economic growth, strengthen security
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

Companies Atomico (UK) Partners LLP FollowSept 8 (Reuters) - The British government has signed a partnership with Singapore to grow its economy and enhance shared security, Downing Street said on Friday, adding it was the UK's first treaty since leaving the European Union. They said the partnership will give Singaporean companies more confidence to invest in Britain and vice-versa, while also creating jobs. The British government added that the partnership will strengthen security cooperation, science and technology innovation, and research and development, including countering cyber threats, through a partnership between Singapore's Digital and Intelligence Service and Britain. "This new agreement with Singapore will take us even further in delivering our priorities and ensure that, as we map the future of the world economy, we are doing so alongside our closest partners," Rishi Sunak said. Reporting by Rishabh Jaiswal in Bengaluru; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Downing, Rishi Sunak, Lee Hsien Loong, Rishabh, Josie Kao Organizations: Atomico, Partners, British, European Union . British, Singapore's Digital, Intelligence Service, Britain, Thomson Locations: Singapore, India, Britain, New Delhi, Bengaluru

☆ Who caused Maui’s devastating wildfire? Lawsuit adds telecom companies and landowners to the list
▼ + stars: | 2023-09-07 | by ( Andy Rose | ) edition.cnn.com time to read: +3 min

The original suit claimed Hawaiian Electric was to blame for the fire, because it did not deenergize power lines that were knocked down by high winds. Shares of Hawaiian Electric have plunged 67% since the fires erupted August 8. Hawaiian Telecom is privately owned. Maui County filed a separate lawsuit late last month against Hawaiian Electric and its subsidiaries, alleging that the utility company’s negligence caused the devastating wildfires. Hawaiian Electric CEO Shelee Kimura said in a statement following Maui’s lawsuit that the company believes the complaint is factually and legally irresponsible.”

Persons: LippSmith, Graham LippSmith, “, ”, inexcusably, Shelee Kimura Organizations: CNN, Hawaiian, Lahaina, Charter Communications, Hawaiian Telecom, Hawaii Telecom, Electric, Hawaiian Electric, National Weather Service, Watch Locations: Maui, Lahaina, Kula, Olinda, Charter, West Maui, Maui County

☆ A Blockbuster-era video law is being used to ding big-name brands like General Mills, Geico, and Chick-Fil-A with privacy lawsuits
▼ + stars: | 2023-09-07 | by ( Ryan Joe | Lara O'Reilly | ) www.businessinsider.com time to read: +6 min

Brands like Chick-Fil-A and Geico are being accused of violating 1980s privacy law the VPPA. Broadcasters have long been wary of running afoul of a 1988 privacy law called the Video Privacy Protection Act that went into effect after the video rental history of then-Supreme Court nominee Judge Robert Bork was leaked to a newspaper. Since November last year, brands as diverse as Hallmark, Folgers, Mattel, Chick-Fil-A, General Mills, Mars, La-Z-Boy, Geico, and Fossil have faced lawsuits accusing them of VPPA violations. But these dismissals don't completely neutralize the threat of VPPA lawsuits. At least 70 VPPA class action lawsuits have been filed in the past year, according to Bloomberg Law.

Persons: Chick, Robert Bork, VPPA, Mills, General Mills, Scott Ferrell, FloSports, Smucker, Keith Carroll, Rebeka Rodriguez, Melissa Fox, Eversheds Sutherland, Labaton Sucharow, Corepower, Garthwaite, Fox, Julie Rubash Organizations: ., Broadcasters, Hallmark, Mattel, Pacific, Hulu, Bloomberg Law, Meta, Protection Law, Facebook, AMC, Us, GameStop, Disney, United States, Court, Southern, of Locations: Mars, California, Virginia, of New York

The paid fellowships were designed in part to help support the recruitment of people of color, which major law firms have struggled for years to add to their partnership ranks. The fellowship consists of a paid summer-associate position, which in law firms often lead to full-time jobs that pay in the six figures after graduation, and a $50,000 stipend. Legal challenges against corporate diversity programs have increased in the wake of the Supreme Court's affirmative action ruling. The other law firm in Blum's crosshairs is Seattle-founded Perkins Coie, a more than 1,200-lawyer global law firm. It has a similar fellowship and has said it plans to defend itself, saying its commitment to diversity is "steadfast."

Persons: Edward Blum, Perkins, Morrison, Foerster, Blum, Keith Wetmore, Blum's, Perkins Coie, Nate Raymond, Alexia Garamfalvi, Richard Chang Organizations: U.S, Supreme, Harvard University, University of North, San, American Alliance for Equal Rights, Excellence, Harvard, Thomson Locations: University of North Carolina, Washington , U.S, San Francisco, Miami, Blum's crosshairs, Seattle, Boston

WeWork's lease liabilities accounted for more than two-thirds of its operating expenses for the second quarter of this year, Tolley said. As of June 30, WeWork had 777 locations in 39 countries. The shuttering of select WeWork locations isn’t new. The process to renegotiate so many leases could take months, if not longer, he said. WeWork’s plans to renegotiate most of its leases also arrive at a time when demand for office space is weak overall.

Persons: — WeWork, “, WeWork, David Tolley, Tolley, ” Tolley, ”, Jonathan Adelsberg, Herrick, Feinstein, Sam Chandan, Chao, Chen, University’s, ” Chandan, David Putro, “ It's, ” Putro, WeWork’s, Chandan, Adam Neumann, It's Organizations: New, Real Estate Department, Chen Institute, Global Real Estate Finance, University’s Stern School of Business, Morningstar Credit, Major, D.C, Putro Locations: New York, Major U.S, San Francisco , New York, Chicago, Washington, San Francisco, “

The logo of Calgary-based Enbridge, one of North America's largest energy infrastructure companies, is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren Acquire Licensing RightsSept 5 (Reuters) - Enbridge (ENB.TO) will buy three utilities from Dominion Energy (D.N) for $14 billion including debt, the Canadian pipeline operator said on Tuesday, creating North America's largest natural gas provider and doubling its gas distribution business. The deals for East Ohio Gas, Questar Gas, and Public Service Co of North Carolina will consist of $9.4 billion in cash and $4.6 billion of assumed debt. U.S.-listed shares of Enbridge fell 6.5% to $33.01 in extended trading after the company also announced a C$4 billion ($2.9 billion) bought-share sale to fund a portion of the deal. The modest improvement in Enbridge's business risk profile is not enough to "offset ongoing pressure on the company's financial profile," said Gavin MacFarlane, vice president and senior credit officer at Moody's, in a statement.

Persons: Chris Helgren, Berkshire Hathaway, Greg Ebel, Enbridge, Patrick Murray, Moody's, Gavin MacFarlane, Morgan Stanley, Sullivan, Cromwell, McCarthy Tétrault, Arunima Kumar, David French, Denny Thomas, Shailesh Kuber, Sriraj Kalluvila, Richard Chang Organizations: REUTERS, Dominion Energy, East Ohio Gas, Public Service Co, Dominion, Federal Trade Commission, Foreign Investment, Co LLC, RBC Capital Markets, Thomson Locations: Calgary, North, Vancouver , British Columbia, Canada, Canadian, North Carolina, Enbridge, Point, United States, Ohio , North Carolina , Utah , Idaho, Wyoming, North America, Bengaluru, New York

☆ Wells Fargo, a juicy target, sparks lead counsel fight among shareholder firms
▼ + stars: | 2023-09-01 | by ( Alison Frankel | Thomson Reuters | Alison Frankel Has Covered High-Stakes Commercial Litigation As A Columnist For Reuters Since A Dartmouth College Graduate | ) www.reuters.com time to read: +7 min

Meanwhile, yet another plaintiffs' firm, Robbins, is deep into a similar derivative suit against Wells Fargo board members in San Francisco Superior Court. But it’s worth noting that in 2022, Wells Fargo won the dismissal of a previous shareholder derivative suit accusing the board of regulatory compliance failures. Kessler said its complaint, which includes "detailed" and "substantial" references to Wells Fargo internal documents, was more likely to withstand a dismissal motion from the bank. Scott + Scott told Tigar that it had the most up-to-date documents from Wells Fargo because it brought a Section 220 demand after the $3.7 billion CFPB agreement. I would not be surprised to see a rival derivative suit filed in Delaware Chancery Court by one of the shareholder firms spurned by Tigar.

Persons: Cromwell, Wells Fargo, Wells, Robbins Geller Rudman, Dowd, Kessler Topaz Meltzer, Scott, Scott –, They're, Jon Tigar, Robbins, Wells Fargo’s, Kessler Topaz, Kessler, Robbins Geller, Tigar, Robbins Geller didn’t, Randall Baron, board's, Andrew Cheng, Read Organizations: Sullivan, U.S . Consumer Financial Protection Bureau, U.S . Office, Currency, OCC, Wells, U.S, District, San Francisco Superior Court, Tigar, Wells Fargo, San Francisco, Thomson, Reuters Locations: Oakland, Wells Fargo, San Francisco, Wells, San, California, Delaware Chancery

Inflation showed its sticky nature in July, rising slightly as increases in services costs offset a decline in the price of goods, the Bureau of Economic Analysis reported on Thursday. The personal consumption expenditures price index, a metric closely followed by the Federal Reserve, rose 0.2% for the month and 3.3% for the 12-month period. The core index, stripping out energy and food costs, rose 0.2% and 4.2%, respectively. “The decline in house prices appears to have abated, which means that the contribution from shelter to core inflation next year may stabilize if not increase. Upside inflation risk is also present in healthcare services where insurance prices are expected to rise this October along with a continued upward pressure on labor demand in the sector, thus suggesting higher wage costs.”

Persons: Joseph Brusuelas, Jerome Powell, ” Powell, ”, Shana Orczyk Sissel, Joe Davis Organizations: Economic, Federal, RSM, Dow Jones, Banrion Capital Management, Vanguard Locations: , Wyoming

☆ Some offshore creditors of Country Garden consider forming group for debt revamp talks
▼ + stars: | 2023-08-30 | by ( Xie Yu | ) www.reuters.com time to read: +3 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. Kobre hosted a call with some of Country Garden's offshore creditors on Tuesday night, during which the law firm laid out Country Garden's primary business units, core assets which include its onshore and offshore property projects. A spokesperson for Country Garden on Wednesday declined to comment when asked by Reuters about the possibility of some offshore bondholders forming a group for debt restructuring talks. Country Garden has been talking with its onshore creditors to extend a 3.9 billion yuan private bond due Saturday. Country Garden's shares fell another 3.3% on Wednesday, taking its losses in the last month alone to more than 40%.

Persons: Aly, HONG KONG, John Han, Kim, Kobre, Han, Xie Yu, Sumeet Chatterjee, Kim Coghill Organizations: Shanghai Country Garden, REUTERS, Kobre, Reuters, Garden, Thomson Locations: Shanghai, China, HONG, New York, HK, Hong Kong

☆ UK's FCA temporarily suspends Superdry's shares on request
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +1 min

Signage is seen for the FCA (Financial Conduct Authority), the UK's financial regulatory body, at their head offices in London, Britain March 10, 2022. REUTERS/Toby Melville/File Photo Acquire Licensing RightsCompanies Superdry PLC FollowAug 30 (Reuters) - Britain's Financial Conduct Authority (FCA) has temporarily suspended the listing of Superdry Plc's (SDRY.L) ordinary shares of 5 pence each on request, the fashion retailer said on Wednesday. "The board confirms that the delay is a result of normal procedures taking longer than anticipated during the first year that RSM are auditing the company," Superdry said in a statement. The company added it expects to request the listing's restoration on the release of its annual results before the end of the week. Earlier this month, it secured additional funding of up to 25 million pounds ($31.58 million) from restructuring specialist Hilco Capital.

Persons: Toby Melville, Superdry, Eva Mathews, Janane Organizations: FCA, Financial, Authority, REUTERS, RSM, LLP, Hilco, Thomson Locations: London, Britain, Bengaluru

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