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☆ G7 agreed global financial system resilient but needs vigilance, Japan finmin says
▼ + stars: | 2023-05-13 | by ( ) www.reuters.com time to read: +3 min

[1/2] Japan's Finance Minister Shunichi Suzuki, Germany's Finance Minister Christian Lindner, Britain's Chancellor of the Exchequer Jeremy Hunt, Joachim Nagel, President of Germany's federal reserve... Read moreNIIGATA, Japan, May 13 (Reuters) - Finance ministers and central banks from the Group of Seven rich nations agreed the global financial system is resilient but the need for vigilance remains, Japan's finance minister Shunichi Suzuki said on Saturday. "We reaffirm that our financial system is resilient, supported by the financial regulatory reforms implemented after the 2008 global financial crisis, including considerable increases in the levels of bank capital and liquidity, an international framework for effectively resolving failing institutions, and strengthened cross-border regulatory and supervisory cooperation," it said. British finance minister Jeremy Hunt told reporters at a separate event that G7 finance chiefs in Japan had "very frank and open discussions" about the challenges they face, including banking regulation. The ministers have wrapped up a three-day meeting in the Japanese city of Niigata. Reporting by Tetsushi Kajimoto and Leika Kihara; Writing by David Dolan Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Poulos, Dominion’s co-founder and chief executive, spoke about his experience settling the historic lawsuit during an interview at the Sir Harry Evans Global Summit in Investigative Journalism in London. Dominion sued Fox News and parent company Fox Corp (FOXA.O) in 2021 over the network’s coverage of false vote-rigging claims about the voting technology firm. The settlement, which legal experts said was the largest struck by a U.S. media company, was announced by the two sides and the judge in the case at the 11th hour. Dominion’s settlement with Fox is part of a broader legal campaign by the company to seek accountability from companies and individuals whom it claims have spread falsehoods about its technology. The company is also suing former Trump lawyers Sidney Powell and Rudy Giuliani, conservative media networks One America News Network and Newsmax Media, and others.

☆ Antitrust enforcement can help the U.S. stay ahead of China on tech, FTC Chair Khan says
▼ + stars: | 2023-05-10 | by ( Lauren Feiner | ) www.cnbc.com time to read: +2 min

Antitrust enforcement, rather than the absence of it, can better position the U.S. to stay ahead of China in the race to build cutting-edge technologies, Federal Trade Commission Chair Lina Khan said on CNBC's "Squawk Box" Wednesday. The tech industry often points to the threat of China catching up to U.S. technologies as an argument against more aggressive enforcement against them. Khan said Wednesday that lessons of the past suggest more aggressive enforcement at home will actually benefit the U.S. on the international stage. Khan offered an example of two historic tech antitrust cases in the last century, those of IBM and AT&T . "I think we saw that Silicon Valley was birthed in the wake of strong competition and antitrust enforcement," Khan added.

☆ Smartmatic subpoenas Donald Trump's former campaign in lawsuit against Fox News over 2020 election conspiracy theories
▼ + stars: | 2023-05-10 | by ( Jacob Shamsian | Madison Hall | ) www.businessinsider.com time to read: +4 min

Trump's lawyers defamed Smartmatic with election conspiracy theories, Smartmatic says. They seek communications and files from Donald J. Trump for President, Inc., Trump's campaign vehicle for the 2016 and 2020 elections. In the subpoenas, Smartmatic asks for all communications regarding Smartmatic or Dominion — a rival election technology company also caught up in conspiracy theories — in connection with Fox News and Newsmax around the time of the 2020 election. They also ask for communication regarding appearances by Sidney Powell and Rudy Giuliani, two attorneys who advanced the conspiracy theories on behalf of the Trump campaign. The subpoenas indicate that Smartmatic seeks to penetrate the inner workings of Trump's campaign operation to understand their links with right-wing media organizations.

☆ How El Chapo’s sons built a fentanyl empire poisoning America
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +23 min

Headed by Iván, El Chapo’s oldest son, the siblings have emerged as key figures in the Sinaloa Cartel, U.S. and Mexican anti-narcotics officials said. But he was killed in 2008 in Culiacán in a hail of bullets amid infighting between warring factions of the Sinaloa Cartel. The agency in April placed Iván on the list of its 10 Most Wanted Fugitives, joining Jesús Alfredo and Ismael “El Mayo” Zambada, a Sinaloa Cartel legend and El Chapo’s alleged former business partner. They also kidnapped eight soldiers and surrounded military housing where wives and children of Mexican soldiers lived, Mexican officials said. Despite that blow to the Sinaloa Cartel, fentanyl keeps flowing north.

☆ Thousands of Afghans escaped the Taliban with the help of private veteran groups. Today, many remain in limbo in the UAE
▼ + stars: | 2023-05-07 | by ( Haley Britzky | ) edition.cnn.com time to read: +18 min

Several thousand were brought there by the State Department directly from Kabul and have since been relocated to the US or Canada. Consequently, thousands of Afghans evacuated by private groups were left in a legal limbo with seemingly no clear path to the US – or anywhere else. It was unclear whether that documentation is sufficient for what the State Department has required. The first two groups were evacuated from the Hamid Karzai International Airport in Kabul in August 2021 by both the State Department and private groups working independently. In her responses to CNN, Tekach said the State Department “had limited information” about refugees who came on those separate flights.

☆ The U.S. Navy’s Bud Light Moment
▼ + stars: | 2023-05-05 | by ( Tommy Tuberville | ) www.wsj.com time to read: +1 min

With recruitment rates to the U.S. military falling, attention is turning to the rise of woke politics, which is undermining public confidence in America's military leaders. Images: Department of Defense/YouTube/Go Army Composite: Mark KellyThe Senate Armed Services Committee heard chilling testimony Tuesday from the Government Accountability Office: The Navy’s ship-maintenance backlog tops $1.8 billion; its aircraft are aging; American shipyards are in poor condition. Contrast that with China’s military surge. The Pentagon’s most recent China Military Power report shows that China’s army, navy and space assets are accelerating at a pace one American four-star admiral called “breathtaking.” China already has the largest navy in the world and it’s getting larger. Defense Secretary Lloyd Austin ’s office reports that China’s air force is “rapidly catching up to Western air forces.”

☆ FTC says Meta misled parents and failed to protect children using Facebook's Messenger Kids app
▼ + stars: | 2023-05-04 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

The FTC said Wednesday that Meta violated a 2020 privacy agreement with practices around its Messenger Kids app. Meta called the proposed changes to the 2020 order "a political stunt" and said the company plans to fight the changes. The initial 2020 order led to a $5 billion settlement with Facebook and called for an expanded privacy program. The agency claimed Meta misled parents about their ability to control who children communicate with through Messenger Kids, as some were able to talk to unapproved contacts through group messages. A group of childcare experts and advocates said in 2018 that the Messenger Kids app was satisfying a nonexistent need, and instead trying to "target" younger children who likely do not yet have other social media, according to The Associated Press.

CNN —Iranian Supreme Leader Ayatollah Ali Khamenei decried the presence of the US military in Iraq during a meeting with Iraqi President Abdul Latif Rashid in Tehran on Saturday. “The presence of even one American in Iraq is too much,” Khamenei said, Iranian state media outlet IRNA reported. “The United States will continue to strengthen and broaden our partnerships in support of Iraqi security, stability and sovereignty,” Austin said during his Baghdad visit. Growing tensionsIraq plays a crucial role for the United States in containing Iran’s influence in the region. Tensions between the United States and Iran are also growing over Tehran’s actions in Syria.

☆ Even one American in Iraq is too many, Iran leader tells Iraqi president
▼ + stars: | 2023-04-29 | by ( ) www.reuters.com time to read: +1 min

[1/4] Iraqi President Abdul Latif Rashid and Iranian President Ebrahim Raisi attend a meeting, in Tehran, Iran April 29, 2023. Iran, which has strong ties with Iraq, opposes the U.S. military presence on its borders in Iraq and the Gulf, saying Western military intervention is the root of insecurity in the region. U.S. national security agencies are investigating after a leak of classified documents has suggested the United States spied on allies including Ukraine. "Even the presence of one American in Iraq is too much," Khamenei told Rashid, who was in Tehran with a delegation to boost ties between the two neighbours. The United States has some 2,500 troops in Iraq to help advise and assist local troops in combating Islamic State, which in 2014 seized territory in the country.

☆ Tucker Carlson leaves Fox News days after Dominion lawsuit settlement
▼ + stars: | 2023-04-24 | by ( Helen Coster | ) www.reuters.com time to read: +5 min

April 24 (Reuters) - Fox News Media and its top-rated host Tucker Carlson have agreed to part ways, less than a week after parent company Fox Corp (FOXA.O) settled for $787.5 million a defamation lawsuit in which Carlson played a starring role. A third person said the senior executive producer of "Tucker Carlson Tonight", Justin Wells, was also let go from Fox News on Monday. After the announcement of Carlson's departure from Fox News, a spokesperson for former President Donald Trump tweeted: "Fox News is controlled opposition." "I stand with Tucker Carlson!" Carlson joined Fox News as a contributor in 2009 and became a co-host of "Fox & Friends Weekend" in 2012.

☆ US troops rushed to evacuate embassy staff from Sudan, but thousands of Americans remain with advice to 'shelter in place'
▼ + stars: | 2023-04-24 | by ( Ryan Pickrell | ) www.businessinsider.com time to read: +4 min

US special operators evacuated American embassy personnel from Sudan, where intense fighting continues. Thousands of Americans, however, remain in country and have been warned to "shelter in place." The Washington Post reported Sunday that an estimated 16,000 Americans, many of whom hold dual citizenship, remain in Sudan, where they have been encouraged to "shelter in place." Smoke rises during clashes between the Sudanese Armed Forces and the paramilitary Rapid Support Forces (RSF) in Khartoum, Sudan on April 19, 2023. The officer noted though that 'tThis is an unfolding situation, and we cannot provide more details for security reasons."

☆ The Week in Business: A Trial With a Twist
▼ + stars: | 2023-04-23 | by ( Marie Solis | ) www.nytimes.com time to read: +4 min

In an unexpected twist in the courtroom on Tuesday — after jurors had been selected and opening statements delayed — Fox News agreed to a $787.5 million settlement. But even at less than half that amount, the settlement is still one of the largest ever in a defamation case. Caveats released in August said vehicles and plug-in hybrids assembled outside North America were not eligible for the $7,500 credit. The list of eligible vehicles is expected to grow as carmakers fine-tune their supply chains and catch up with demand. When the bank reports its quarterly earnings this week, analysts expect to see an enormous flight of deposits — that is, customers pulling their money from the bank — and losses.

Private equity firm Staple Street Capital valued Dominion at $80 million when it purchased a controlling stake in it in 2018. The Fox settlement was nearly 10 times that amount and far outstripped the $226 million average of four pre-election valuations cited in Fox's court papers. Dominion's damages claim in the Fox case was based upon a report it commissioned from an accounting expert, half of which remains under seal. It is difficult to place a dollar value on the U.S. voting-machine industry because Dominion and its competitors all are privately held. While Dominion's report cites dozens of lost clients due to Fox's coverage, the company still has landed recent contract renewals including in California's Republican-majority Kern County.

CompaniesCompanies Law Firms Dominion Voting Systems Corp FollowFox Corp FollowApril 19 (Reuters) - Dominion Voting Systems' defamation lawsuit against Fox (FOXA.O), which resulted in Tuesday’s $787.5 million settlement, is part of a broader legal campaign by the company to seek accountability from companies and individuals whom it claims have spread falsehoods about its technology. The company said it stands by its coverage and will "vigorously defend" itself against Dominion's claims. TRUMP LAWYERS AND PATRICK BRYNEAlso in August 2021, Dominion sued Patrick Byrne, the former chief executive of online retailer Overstock.com Inc, saying he too spread conspiracy theories about the company's technology. Dominion also has lawsuits pending against former Trump lawyers, Sidney Powell and Rudy Giuliani, over the vote rigging claims. Each suit against the lawyers seeks at least $1.3 billion in damages.

☆ 16 takeaways from Fox News' historic $787.5 million settlement with Dominion
▼ + stars: | 2023-04-19 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +16 min

In the moments after I watched the judge announce the settlement in court, 16 things went through my mind:1. Evidence obtained by Dominion in the lawsuit and filed to court ahead of the settlement appeared to support that theory. There's always the Smartmatic case. In court filings ahead of the settlement, Fox complained about the $1.6 billion price tag Dominion put on the lawsuit. "Would be pretty unreal if you guys like 20x'ed your Dominion investment with these lawsuits," read one text to a Staple Street executive cited in a Fox court filing.

☆ The investor behind Dominion Voting Systems just bagged a 1,400% return after Fox News settled its defamation suit for $788 million
▼ + stars: | 2023-04-19 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Dominion Voting Systems on Tuesday settled a defamation lawsuit with Fox News for $787.5 million. Staple Street Capital purchased a 76% stake in the voting technology company in 2018 for $38.8 million. Dominion initially sought $1.6 billion in damages from Fox News, but settled for about half that amount. The potential gain for Staple Street from the Dominion/Fox News lawsuit was on the radar of employees at the investment firm. For us this case has always been about exposing the truth and holding those who knowingly spread lies accountable," Staple Street co-founder Hootan Yaghoobzadeh said at a Tuesday press conference.

"Fox has admitted to telling lies about Dominion that caused enormous damage to my company, our employees and our customers," Poulos said in a statement. Shares of Fox Corp closed up slightly at $34 per share, but were down 1% in after-hours trading after the settlement amount was disclosed. Fox Corp CEO Lachlan Murdoch told Wall Street analysts in February that the company had about $4 billion cash on hand. [1/5] Dominion CEO John Poulos and lawyers speak to the media after Dominion Voting Systems and Fox settled a defamation lawsuit for $787.5 million, avoiding trial, over Fox's coverage of debunked election-rigging claims, in Delaware Superior Court, in Wilmington, Delaware, U.S. April 18, 2023. Fox Corp reported nearly $14 billion in annual revenue last year.

☆ Fox News settles Dominion's defamation lawsuit for $787.5 million over election conspiracy theories just as the trial is about to start
▼ + stars: | 2023-04-18 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +11 min

Fox News settled Dominion's defamation lawsuit over election conspiracy theories for $787.5 million. WILMINGTON, Delaware — Fox News settled Dominion Voting Systems's blockbuster defamation lawsuit just as it was about to go to trial, agreeing to pay it $787.5 million. In a press conference after Davis announced the settlement, Dominion CEO John Poulos criticized Fox for broadcasting lies about the company. Dominion first filed its lawsuit against Fox News and its parent company, Fox Corp., in March 2021. Representatives of Fox News arrive at the justice center for the Dominion Voting Systems' defamation lawsuit against Fox News, in Wilmington, Delaware.

☆ Fox News pushes Dominion to settle mammoth defamation lawsuit as judge delays trial, multiple sources report
▼ + stars: | 2023-04-17 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +9 min

Fox is pushing Dominion to settle its $1.6 billion defamation lawsuit, WSJ and Reuters report. Fox made a last-minute attempt to settle the case out of court, the Wall Street Journal reported, citing people familiar with the situation. A spokesperson for Fox Corp., the parent company of Fox News, declined to comment to Insider on the record. Fox Corp. CEO Lachlan Murdoch and Chairman Rupert Murdoch. Adrian Edwards/GC ImagesIn his own messages and depositions, Fox Corp.

Bill Clark | CQ-Roll Call Group | Getty ImagesAn embarrassing leak of highly classified Pentagon documents has endangered intelligence methods, exposed American strategy and undermined trust among U.S. allies, former defense department officials and intelligence experts tell CNBC. America's control over its most valuable secrets has been thrust into question amid the fallout from the most damaging intelligence leak since Edward Snowden's breach more than a decade ago. 'Devastating' for American alliesThe major security breach also contained intelligence gathering on American allies, including South Korea and Israel. "Our allies can't trust us … That's why the Middle East, they're talking to the Chinese. one American defense industry executive told CNBC, speaking anonymously due to professional restrictions.

☆ The Russian air force's struggles in Ukraine reveal glaring problems in now Moscow trains its pilots
▼ + stars: | 2023-04-10 | by ( Alex Hollings | Sandboxx News | ) www.businessinsider.com time to read: +35 min

Despite being bigger and more advanced than its enemy, Russia's air force has struggled in Ukraine. It's commonly said that Russian fighter pilots are not as well trained as their Western counterparts, particularly those from the United States. But however ineffective you may think Russian pilot training is compared to the West, the truth seems to be … much worse. A Russian air force pilot prepares to take off in an Su-35 fighter jet at Hemeimeem air base in Syria in September 2019. Put simply, the Gulf War air campaign creates a damning juxtaposition when compared directly to Russia's air campaign over Ukraine.

President Joe Biden has said he will sign the measure if it passes both the Senate and House and reaches his desk. Supporters of repeal also said it recognized that Iraq is no longer an adversary but has become a U.S. security partner. The resolution also would repeal the Gulf War AUMF approved in 1991 after Saddam's Iraq invaded Kuwait. The Iraq AUMFs have been labeled "zombie" authorizations because they never expire but their original purpose no longer applies. In 1971, Congress voted to repeal the Gulf of Tonkin Resolution, which had provided authority for the Vietnam War.

☆ Credit Suisse whistleblowers say Swiss bank has been helping wealthy Americans dodge U.S. taxes for years
▼ + stars: | 2023-03-29 | by ( Eamon Javers | ) www.cnbc.com time to read: +14 min

In this article CSCSG.N-CH Follow your favorite stocks CREATE FREE ACCOUNTA sign of Credit Suisse bank is seen at their headquarters in Zurich on March 20, 2023. "To date, no Credit Suisse employees involved in the scheme have faced any consequences from the United States government for their participation." "It's not a question of whether Swiss banks continue to do this, it's a question of which Swiss banks still do this." In a statement to CNBC, a Credit Suisse spokeswoman said it does not tolerate tax evasion. "DOJ must correct its lax oversight of Credit Suisse and hold Credit Suisse accountable for any violations of its plea agreement," he said.

☆ The latest US bank crisis is opening doors for China to assert global ascendancy, Yale economist says
▼ + stars: | 2023-03-27 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Volatility in the US banking system is an opportunity for China, Yale's Stephen Roach said. "A rising China is taking dead aim at crisis-prone America," Roach said. "A rising China could hardly ask for more." "That's precisely the point of the increasingly worrisome interplay between another US-made financial shock and a sharply escalating Sino-American cold war. A rising China is taking dead aim at crisis-prone America," Roach warned.

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