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☆ Buy this EV charging stock as demand and adoption grows, Stifel says
▼ + stars: | 2023-05-17 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Stifel thinks EVgo is poised to benefit from the continued growth and adoption of electric vehicles. The firm initiated the maker of fast-charging stations for electric vehicles with a buy rating and a price target of $9 per share. On top of that, Stifel thinks that the government mandates to move toward cleaner technologies such as electric vehicles will help the company grow, while more traditional carmakers continue to enter the EV space. Still, Stifel thinks EVGo will see strong annual revenue growth going forward. The firm projects revenue of $132 million, $241 million and $428 million in 2023, 2024 and 2025, respectively.

The complaint was sent to the US judges' Committee on Financial Disclosure. For now, questions about Thomas's previously undisclosed financial dealings with Harlan Crow, a billionaire Texas real-estate developer, will fall to an obscure committee of sixteen federal judges — the Committee on Financial Disclosure. Koszczuk said the same letterhead was routinely sent to any member of the public who asked for a judge's financial disclosure report. When Ranjan wrote his article, a review of a Thomas biography, the controversies surrounding Thomas had nothing to do with his financial disclosures. Judges' financial disclosures are only updated annually, and until recently, it wasn't easy to get ahold of them.

☆ Tightening Supreme Court Ethics Rules Faces Steep Hurdles
▼ + stars: | 2023-05-05 | by ( Charlie Savage | ) www.nytimes.com time to read: +1 min

The drumbeat of revelations that Justice Clarence Thomas did not disclose lavish gifts and significant financial arrangements with a billionaire Republican donor has put a spotlight on the fact that the Supreme Court has the weakest ethics rules in the federal government. But it is far less clear that anything can be done about it. Justice Thomas’s behavior has underscored that financial disclosure rules for justices are porous and that the court has no binding code of ethical conduct like the one that governs lower-court judges. The court has shown no interest in adopting one, and proposals in Congress to force one upon it face steep political and constitutional hurdles. “It’s a mess,” said Stephen Gillers, a legal ethics professor at New York University.

The Paul, Weiss, Rifkind, Wharton & Garrison partner is well-known for representing blue chip clients like Amazon in cases with millions or even billions of dollars on the line. "Widely considered one of the most preeminent litigators of his generation," is how his Paul Weiss bio puts it. Average profits per partner at Paul Weiss last year were $5.73 million, according to The American Lawyer. The case made national headlines, and the ex-judge, Roy Pearson Jr, was subsequently sanctioned by the D.C. Court of Appeals. In a statement filed with the court, Isaacson and McCrocklin's lawyer said the two sides' positions "are both extremely well-known to each other and seemingly very entrenched."

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☆ As possible Social Security benefits cut looms, GOP senator says lawmakers are working on a 'big idea' fix
▼ + stars: | 2023-04-25 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Nicholas Kamm | AFP | Getty ImagesSocial Security's trust funds have a new projected depletion date that is about a decade away. The idea calls for creating an investment fund separate from Social Security and allowing the investment to earn returns over a period of 70 years, Cassidy said. It would target the Social Security trust funds' biggest weakness, which is that it has "the absolute worst investment strategy you could have right now," Cassidy said. 'Big idea' inspired by private pensionsThe idea for investing Social Security's funds in the market is inspired by private pension funds, which already buy securities outside of Treasurys. Possible changes to fix Social Security generally include tax increases, benefit cuts or a combination of both.

☆ Clarence Thomas didn't recuse himself from a 2004 appeal tied to Harlan Crow's family business, per Bloomberg
▼ + stars: | 2023-04-24 | by ( Lauren Steussy | ) www.businessinsider.com time to read: +4 min

Clarence Thomas previously said his friend Harlan Crow had no business before the court. But a case involving Trammell Crow Residential made its way to the Supreme Court in 2005, per Bloomberg. Harlan Crow was CEO of Crow Holdings from 1988 to 2017, and remains chair of its board, per Bloomberg and The Real Deal. "At the time of this case, Trammell Crow Residential operated completely independently of Crow Holdings with a separate management team and its own independent operations," the statement to Bloomberg said. Neither Harlan Crow nor Crow Holdings had knowledge of or involvement in this case, and a search of Crow Holding's legal records reveals no involvement in this case.

If it is just a lagged statistical quirk, then the huge disparity in March inflation rates - of some 3-5 percentage points with western peers - should narrow sharply by yearend. With an election due next year, that may prove a big factor in any re-convergence of inflation rates if the cost of that is a much deeper economic downturn that rest. The question about Britain as an inflation outlier re-opens the age-old issue about just how that should be priced into sterling. For much of the past 10 years, G7 inflation rates were largely locked together in either their subdued pre-pandemic state or during the wild price spikes since. If UK inflation turns "idiosyncratic" among its peers during the much-vaunted normalization, then currency markets may need to rethink fundamental long-term assumptions about purchasing power, Gallo reckons.

☆ Jake Gyllenhaal and Jamie Lee Curtis spent the Covid-19 lockdown together
▼ + stars: | 2023-04-18 | by ( Marianne Garvey | ) edition.cnn.com time to read: +1 min

CNN —It’s sourdough bread and handstands for Jake Gyllenhaal and Jamie Lee Curtis. Curtis, who won best supporting actress Oscar at lthe 2023 Academy Awards, is friends with Gyllenhaal’s parents, director Stephen Gyllenhaal and screenwriter Naomi Foner. He and Jeanne lived in the house next door that I have. “He made a lot of sourdough bread, a lot,” Lee said. It also stars Alexander Ludwig, Antony Starr, Bobby Schofield and Jonny Lee Miller.

☆ Coinbase could tumble more than 45% as prolonged SEC battle unfolds, TD Cowen says
▼ + stars: | 2023-03-24 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

A prolonged battle with the U.S. Securities and Exchange Commission will weigh on shares of Coinbase near term, according to TD Cowen. Stephen Glagola downgraded shares of the cryptocurrency exchange operator company to underperform, citing "incremental risk to operations" as the SEC cracks down on crypto banking. The downgrade from TD Cowen comes after the SEC this week issued a Wells notice to Coinbase that warned the company of potential U.S. securities law violations. Glagola also views Coinbase's staking business at risk after Kraken shuttered its own staking operations in a settlement with the SEC . A forced closure of this business would weigh on a component of Coinbase's subscription and services revenue, Glagola wrote.

☆ Analysis: What's behind bitcoin's latest surge?
▼ + stars: | 2023-03-22 | by ( Tom Wilson | ) www.reuters.com time to read: +5 min

The original and biggest cryptocurrency has been here before, its 15-year history peppered with dramatic price increases and equally vertiginous drops. Driving bitcoin's gains have been its core user base of retail investors, analysts said. In the past, too, dramatic price swings for bitcoin have been closely tied to shifts in monetary policy globally. In 2022, bitcoin plummeted over 65% as higher rates triggered the fall of a major crypto token, precipitating the closure of major hedge funds and crypto lenders. To be sure, some investors say developments to bitcoin's intrinsic characteristics are now capable of supporting its price.

☆ Stormy Daniels looked into hiring a lawyer currently representing Trump in hush money case. The Manhattan DA now has their communications.
▼ + stars: | 2023-03-22 | by ( Erin Snodgrass | Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

A lawyer for Stormy Daniels said he gave the Manhattan DA communications between her and Trump's attorney. The communications reportedly include information about Daniels' then situation, which Brewster said contains confidential information she disclosed to Trump lawyer Joe Tacopina. When a paralegal in his office brought it up with him, he declined to take the case, he told Insider. Tacopina told Insider that the communication from Daniels didn't rise to a level that would raise a conflict. He told CNN that he handed over the communications between Daniels and Tacopina following what he said were contradicting comments from the Trump lawyer about his firm's emails with Daniels.

☆ Joe Tacopina risks being disqualified as Trump's defense lawyer because Stormy Daniels considered hiring him 5 years ago, experts say
▼ + stars: | 2023-03-22 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +7 min

Depending on what Daniels told Tacopina, he could be disqualified in the case, experts say. Tacopina didn't end up taking on Daniels as a client. And the communications from Daniels didn't create a conflict of representation, according to Tacopina. Even if Tacopina didn't take on Daniels as a client, lawyers still have obligations to prospective clients, legal experts say. That appears to be the position of Daniels' attorney.

☆ There's not a lot of interest to take even a piece of First Republic, says Financial Times' Gandel
▼ + stars: | 2023-03-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's not a lot of interest to take even a piece of First Republic, says Financial Times' GandelWall Street Journal Reporter Ben Eisen and Financial Times Banking Correspondent Stephen Gandel joins CNBC's Brian Sullivan and 'Last Call' to discuss big banks and other headlines relative to the markets.

☆ South Carolina state senator proposes a bill that would require new residents to pay $500 to move there
▼ + stars: | 2023-02-27 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

A South Carolina state senator proposed a bill that would ask relocators to pay $500 to move there. New residents would pay $250 to register their vehicle and $250 for a new driver's license. Most states, including South Carolina, require newcomers from different states to get a new license upon arrival. It costs $25 to get a driver's license in South Carolina, which typically lasts for eight years. The bill doesn't aim to deter migration to South Carolina, Goldfinch told the committee.

☆ Jeff Koons 'balloon dog' sculpture valued at over $40,000 accidentally shattered at Miami art festival, and one collector wants to buy the pieces
▼ + stars: | 2023-02-24 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

A balloon dog sculpture from artist Jeff Koons was accidentally broken at an art festival in Miami. One collector told The Miami Herald and NPR that he is interested in buying the pieces, as its breaking is part of the sculpture's story. Gamson posted pictures and videos of the broken sculpture to his Instagram, capturing the immediate aftermath as the crowd formed and the shattered statue was cleaned up. He can be heard mentioning something about wanting to buy the shattered pieces in one of the videos, and Gamson told NPR this week that he is still interested in buying the pieces. "I find value in it even when it's broken," Gamson told the Herald.

☆ Jeff Koons 'balloon dog' sculpture valued at over $40,000 accidentally shattered at Miami art festival
▼ + stars: | 2023-02-18 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +2 min

A balloon dog sculpture from artist Jeff Koons was accidentally broken at an art festival in Miami. A woman attending the event allegedly tapped the sculpture, and it fell off its stand. The incident will be forgiven as the work was insured, an art advisor told the Miami Herald. The small glass sculpture, valued at $42,000, was on display during a VIP preview event for Art Wynwood when it was broken Thursday evening, according to the Miami Herald. "I find value in it even when it's broken," Gamson told the Herald.

☆ These mining ETFs are soaring as gold's rally powers ahead in January
▼ + stars: | 2023-01-31 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

The SPDR Gold Trust (GLD) , which tracks gold prices, has a return of more than 5% in January, roughly matching the S & P 500. The VanEck Gold Miners ETF (GDX) has doubled up the SPDR Gold Trust this month, while the small cap Junior Gold Miners ETF (GDXJ) has gained more than 8%. Silver mining ETFs are also doing well, even though the iShares Silver Trust (SLV) is negative for the month. ETFMG's Prime Junior Silver Miners ETF (SILJ) has gained more than 8% this month. The SPDR Gold Trust had dipped less than 1% for three straight trading sessions entering Tuesday.

☆ A New Yorker is suing Twitter for $5 million over a data leak that researchers say exposed the information of more than 200 million users
▼ + stars: | 2023-01-16 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

A Twitter user is suing the company for $5 million over a data leak which exposed users' personal information. According to cybersecurity researchers, the leak impacted over 200 million users. Twitter has denied that the data leak was caused by hackers exploiting a flaw in its systems. In early January, cybercrime intelligence company Hudson Rock suggested that hackers had stolen over 200 million Twitter users' information and published them onto a publicly available online hacking forum. "In response to recent media reports of Twitter users' data being sold online, we conducted a thorough investigation and there is no evidence that data recently being sold was obtained by exploiting a vulnerability of Twitter systems," the post said.

☆ School lunch, eggs and airfare: Why inflation soared for 10 items in 2022
▼ + stars: | 2023-01-13 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Here's a look at the 10 items with the largest price gains, as measured by the annual inflation rate in December. Food at school: 305.2%The price of a meal at elementary and secondary schools spiked the most in 2022, by a whopping 305%. Overall food prices have been pressured on many fronts, too, funneling into school meals. Oil prices retreated in the second half of the year, though, as fears mounted of a possible recession and an accompanying weakness in oil demand. Monthly milk production among major suppliers fell each month from September 2021 to June 2022, according to the U.S. Department of Agriculture.

☆ Alphabet Unit Verily to Trim More Than 200 Jobs
▼ + stars: | 2023-01-12 | by ( Miles Kruppa | ) www.wsj.com time to read: 1 min

Verily Life Sciences, a healthcare unit of Alphabet Inc., is laying off more than 200 employees as part of a broader reorganization, the first major staff reductions to hit Google’s parent following a wave of layoffs at other technology companies. The cuts will affect about 15% of roles at Verily, which will discontinue work on a medical software program called Verily Value Suite and several early-stage products, CEO Stephen Gillett said in an email to employees Wednesday. Verily has more than 1,600 employees.

☆ Alphabet to cut staff of health sciences unit Verily by 15%
▼ + stars: | 2023-01-11 | by ( Jennifer Elias | ) www.cnbc.com time to read: +4 min

In an email to employees on Wednesday, Verily CEO Stephen Gillett said the company will lay off 15% of its staff in a restructuring move, as it strives for financial independence from parent company Alphabet . Verily, which specializes in health sciences, is one of Google's sister companies, operating within Alphabet’s "Other Bets" category. It's the first known layoff to hit the Google parent company following a wave of industry layoffs and fears of a recession. Gillett’s note stated that it will be "reducing or sunsetting" some parts of the business while increasing investment in others. Those who work out of the U.S. will hear from their business leaders on Wednesday or Thursday, the note stated.

☆ Alphabet's health science unit cuts over 200 jobs
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: +1 min

Jan 11 (Reuters) - Alphabet Inc's (GOOGL.O) health science unit, Verily Life Sciences, said on Wednesday it had laid off over 200 employees, or about 15% of its workforce, marking the first time in at least six years when Alphabet or its affiliate has announced job cuts. The move follows similar retrenchment exercises in corporate America, concentrated among technology firms and banks, as companies look to curtail spending in a tough economy. Verily, which was born out of the Google X research program in 2015, raised $1 billion from Alphabet in September last year. Access, an Alphabet unit that houses Google Fiber, laid off some employees in 2016. Reporting by Yuvraj Malik in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Thought last year was bad for crypto? From FTX to Silvergate, the red flags are flying for the year ahead.
▼ + stars: | 2023-01-06 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Those realizations came to head repeatedly in 2022 as crypto hacks and a wintry bear market crescendoed with the collapse of Sam Bankman-Fried's FTX. On a macro level, persistent recession fears make speculative assets such as tokens or tech stocks less enticing. More notable is crypto bank Silvergate's nearly 50% plunge Thursday, and the company's announcement it would cut 40% of its staff. Job cuts at Amazon and Salesforce signal the first necessary step in staging a turnaround for tech stocks. All told, analysts predict layoffs could catalyze a 20% rally for tech stocks in 2023.

☆ 2 more alarms just went off, signaling a dire year ahead for crypto
▼ + stars: | 2023-01-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The ongoing weakness in crypto spread to Coinbase on Monday, which fell 13% as trading volumes remain light. Customers withdrew $8.1 billion in deposits in a run on the bank after the implosion of FTX rocked the crypto market. The shakiness of crypto confidence is impacting Coinbase as well, which fell on Thursday to levels just above its all-time low. The decline in Coinbase stock came after Cowen downgraded the company to "market perform" on concerns that retail trading volumes have not yet stabilized. That's a problem for Coinbase because retail trading makes up the bulk of its profits.

☆ Cowen downgrades Coinbase as crypto companies face elevated scrutiny after FTX implosion
▼ + stars: | 2023-01-05 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

It's time to take a pause on shares of Coinbase as the company faces potential scrutiny in the wake of FTX's blowup and retail trading volumes decline, Cowen said. Analyst Stephen Glagola downgraded shares of the crypto exchange operator to market perform from outperform, citing a difficult macro backdrop and FTX-fueled crypto concerns unlikely to subside near term. "There is low visibility per stabilization in retail trading volumes in 2023 following further December deterioration," he wrote. Coinbase shares plummeted 86% in 2022, slumping 34% alone since FTX filed for bankruptcy in November . The price cut suggests more than 4% downside from Wednesday's close.

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