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☆ It looks like Elon Musk is a bit envious of Mark Zuckerberg's control over Meta
▼ + stars: | 2024-01-19 | by ( Grace Kay | ) www.businessinsider.com time to read: +7 min

Musk appeared to give Tesla's board an ultimatum on Monday, saying he wants 25% voting control at Tesla or he'll stop growing AI development at the electric-car maker. One way of getting that would be via a dual-class stock structure. This isn't uncommon and could mean Musk wouldn't necessarily get more shares but that the ones he held would deliver more voting power. The company's dual-class stock structure provides Zuckerberg and select executive managers and directors with them. "Zuckerberg probably wouldn't have gone public without a dual-class structure," White said.

Persons: —, Elon Musk, Mark Zuckerberg, Musk, he's, Tesla, Zuckerberg, It's, Chester Spatt, Joshua Tyler White, doesn't, White, Ofer Eldar, Michael Dell, Anat Alon, Beck, Erik Gordon, Sam Altman's, Gordon Organizations: Service, Meta, Tesla, Business, Carnegie Mellon University, SEC, Vanderbilt, SpaceX, The Boring Company, UC Berkeley, Western Reserve University, University of Michigan's Ross School of Business Locations: Delaware, OpenAI

☆ Elon Musk gives Tesla's board an ultimatum as he seeks to grab more power
▼ + stars: | 2024-01-17 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

By demanding more power at Tesla, Elon Musk has effectively issued an ultimatum. AdvertisementElon Musk has issued an ultimatum to Tesla's board: hand over control of 25% of the votes, or he'll put the brakes on AI development. Musk claims the board has been delaying updating his compensation package until the court decides on a verdict. If the plan is rejected, it could be complicated for the board to give Musk what he wants. As Ives notes: "Musk is Tesla and Tesla is Musk."

Persons: Elon Musk, —, he'll, Wedbush's Dan Ives, Tesla, Musk, Ives, xAI, Google's Bard, OpenAI's Organizations: Tesla, Service, EV Locations: Delaware

The U.S. is no stranger to measles cases, though these incidents come amid concerns about vaccine hesitancy and lowered immunity leaving people at risk. Where Measles Cases Have Been ReportedOfficials with the Philadelphia Department of Public Health are tracking a measles outbreak totaling eight confirmed cases in the area. Over the weekend, health officials in Camden County, New Jersey, said they were “closely monitoring” a confirmed measles case there. At the same time, annual data shows measles cases occur in the U.S. each year. In 2019, the U.S. saw nearly 1,300 measles cases across 31 states, marking the highest number since 1992 and a record high since measles was considered eliminated from the country.

Persons: Ronald Reagan, who’s, – Organizations: Philadelphia Department of Public Health, Nemours Children’s Hospital, Washington , D.C, Virginia Department of Health, Dulles International Airport, Ronald Reagan Washington National, Ronald Reagan Washington National Airport, “ Health, Birmingham Children’s Hospital, Centers for Disease Control, CDC Locations: United Kingdom, The U.S, Camden County , New Jersey, Delaware, Philadelphia, Nemours, Wilmington, Washington ,, Ronald Reagan Washington, Washington, Clark, Wahkiakum, U.S, England, Wales, Birmingham, New York City, United States

Berkshire Hathaway settled a billion-dollar lawsuit with the Haslam family over how Berkshire accounted for the value of Pilot Travel Centers, which would affect the price paid in a forced buyout of the family's remaining stake in that truck-stop giant, both sides said Sunday night. The Haslam family and its Pilot Corp. in the suit filed this fall alleged that Berkshire Hathaway improperly adopted a form of accounting of the value of Pilot Travel Centers that would have led to a sharply lower price Berkshire would pay to acquire the family's remaining 20% stake in PTC. Berkshire in turn had accused Cleveland Browns owner Jimmy Haslam of offering payments to PTC executives to boost the value of the company so that his family would get a bigger buyout from Berkshire, which controls PTC. The Haslam family and Pilot Corp. strongly denied those claims. Berkshire and Pilot Corp. in similar press statements Sunday night said that they had reached an agreement to fully settle the Delaware Chancery case.

Persons: Berkshire Hathaway, Haslam, Greg Abel, Warren Buffett, Jimmy Haslam Organizations: Berkshire, Travel Centers, Pilot Corp, PTC, Cleveland Browns Locations: Berkshire, Delaware Chancery, New York, Delaware

☆ New Bidder Aims to Save Bankrupt Trucking Firm, if Treasury Goes Along
▼ + stars: | 2023-11-27 | by ( Peter Eavis | More About Peter Eavis | ) www.nytimes.com time to read: +1 min

When Yellow abruptly shuttered its operations in the summer and filed for bankruptcy protection, few thought that a buyer would emerge and try to revive the long-troubled trucking giant. The plan rests, however, on getting the Treasury Department to allow Yellow to postpone repayment of a $700 million rescue loan that it made to the company in 2020. But the Treasury may not accept the plan because there are legal obstacles to extending the loan. Some trucking analysts say reviving Yellow will be hard because many of its customers will have moved on to other trucking companies that are much better run than the old Yellow. But Sarah Riggs Amico, the trucking executive leading the deal, said only her plan could bring back thousands of jobs, adding that she had the experience to build a leaner company in partnership with the Teamsters and assemble an executive team that can win back customers.

Persons: Sarah Riggs Amico Organizations: International Brotherhood of Teamsters, Treasury Department, Teamsters Locations: Delaware

☆ A group of student-loan borrowers are getting $30 million in debt relief after a tech boot camp offered them 'illegal' payment plans, a federal watchdog says
▼ + stars: | 2023-11-20 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

A group of student-loan borrowers who attended boot camp Prehired are getting $30 million in debt relief. The CFPB sued Prehired over the summer, accusing it of offering "illegal" income-share agreements. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementMore student-debt relief is on the way for a group of borrowers who attended a tech boot camp. "Today's action with our state partners ensures that borrowers harmed by Prehired can receive redress and have their illegal loans canceled."

Persons: Prehired, —, Rohit Chopra Organizations: Service, Consumer Financial, Delaware's Justice Department

(AP) — President Joe Biden is set to visit naval installations in Virginia on Sunday for an early kickoff to the Thanksgiving holiday week. He plans to host a screening of the movie “Wonka” and have a “friendsgiving” meal with service members and their relatives. Later, the Bidens plan to help serve dinner with service members from the USS Dwight D. Eisenhower and the USS Gerald R. Ford at Norfolk Naval Station, the largest installation of its kind in the world, along with their families. In 2021, the Bidens visited the Army’s Fort Bragg in North Carolina for an early Thanksgiving meal in a hangar for about 250 service members and their families. The president and first lady plan to spend this Thanksgiving on Nantucket, a Massachusetts island.

Persons: Joe Biden, Wonka, Jill Biden, Roald Dahl’s, Willy Wonka, Dwight D, Eisenhower, Gerald R, Ford, There's, Donald Trump's, Trump, Biden, Beau, Joe Organizations: Norfolk Naval Station, Republican, National Guard, Republicans, Delaware National Guard, Troops Locations: WILMINGTON, Del, Virginia, Hampton Roads, Texas, Edinburg, U.S, Mexico, United States, Iraq, Cherry Point , North Carolina, Bragg, North Carolina, Nantucket, Massachusetts

The fallout has extended to Washington, where Republicans are hunting for evidence that could be used to impeach President Joe Biden. Republicans have highlighted a $200,000 personal check from Jim to Joe Biden on the same day — March 1, 2018 — that Jim Biden received an equal amount from Americore. Concerns that Jim Biden’s business ventures and missteps would cloud Joe Biden’s political career stretch back decades. Court records show the matter was dropped, and Jim Biden's representatives said the bill was paid. But he’s also angry at Jim Biden's brother.

Persons: ELLWOOD, Jim Biden, Joe Biden, Jim Biden wasn’t, Americore, It’s, Joe Biden’s, Hunter, Biden, Jim, ”, Paul Fishman, “, Ian Sams, Republicans won’t, ” Jim Biden, James Comer, he’s, ” Comer, Jim Biden's, Sara, Joe, Jill, Jim Biden’s, Barack Obama’s, Narendra Modi, Valerie, Frank, Beau, Beau Biden, ” Hunter, Uncle Jim, Hollywood Roosevelt, ‘, Let’s, ’ ”, Hurricane Irma, Tom Pritchard, Pritchard, ” Pritchard, Obama, Jim Biden “, ” Fishman, Michael Lewitt, Lewitt, Fishman, Biden’s, Grant White, ” White, Donald Trump, Scott Paglia, Paglia, ___ Suderman, Rhonda Shafner Organizations: ELLWOOD CITY, Health, House Republicans, Republicans, ., Democrats, Americore, Rep, Kentucky Republican, franchise, Senate, Delaware News, Oval, White, Indian, University of Delaware, Internal Revenue Service, CEFC China Energy . Records, American Express, U.S . Department of Veteran Affairs, Platinum Global Partners, Securities and Exchange Commission, Wall, Democratic, Associated Press Locations: Pa, Florida, Ellwood City, Pennsylvania, Washington, “, China, Philadelphia, Delaware, Mississippi, California, Los Angeles, Qatar, Saudi Arabia, South Florida, Delray Beach , Florida, Richmond , Virginia, New York

WASHINGTON (AP) — President Joe Biden said America's veterans are “the steel spine of this nation” as he marked Veterans Day during a visit to Arlington National Cemetery. Not a place, not a person, not a president, but an idea, to defend an idea unlike any other in human history. That idea is the United States of America.”Nov. 11, once known as Armistice Day, is the anniversary of the armistice that ended World War I in 1918. Biden said that was “unlike any war the world had ever seen before.”The ceremony was personal for Biden and first lady Jill Biden. “We come together today to once again honor the generations of Americans who stood on the front lines of freedom.

Persons: Joe Biden, Biden, ”, Jill Biden, Biden’s, Beau, Beau Biden, ” Biden, ’ Organizations: WASHINGTON, Arlington National, ”, Delaware Army National Guard, 261st, Tactical Signal Brigade, National Guard Locations: Arlington, U.S, United States of America, Iraq

☆ Datadog tops quarterly estimates on robust bookings, raises annual forecast
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

Nov 7 (Reuters) - Datadog (DDOG.O) on Tuesday topped estimates for third-quarter results and raised its forecast for annual adjusted profit and revenue, driven by demand from customers seeking better security solutions due to increasing cybersecurity threats. Shares of the software solutions provider soared nearly 23% in trading before the bell. The Delaware, New-York-based company said it expects annual adjusted profit between $1.52 and $1.54 per share, up from its prior outlook of $1.30 and $1.34. Quarterly adjusted profit of 45 cents per share also topped expectations. Datadog's total number of new and existing customers rose 20% to 3,130, with an annual recurring revenue of $100,000 or more as of Sept. 30.

Persons: Yamini, Devika Syamnath, Shweta Agarwal Organizations: MGM Resorts, Google, Thomson Locations: The Delaware, New, York, Bengaluru

☆ Boycotting the Jews Reaches the West Bank of the Delaware
▼ + stars: | 2023-11-06 | by ( Sierra Dawn Mcclain | ) www.wsj.com time to read: 1 min

Journal Editorial Report: Pushback emerges among donors and employers. Images: AP Composite: Mark KellyThe “boycott, divestment and sanctions” movement, or BDS, seeks to strangle Israel economically. It has gone after international tech giant Hewlett Packard Enterprise for allegedly doing business with Israel’s government, as well as Sabra, a food company with Israeli ownership. But BDS also seeks to harm more-vulnerable targets: small businesses. On Oct. 30, the Philly Palestine Coalition posted on Instagram urging its 15,000 followers to boycott Philadelphia restaurants that are “owned by Zionists,” serve Israeli food, raise money for Israel, or are owned by Philadelphia-based Starr Restaurants.

Persons: Mark Kelly The, Israel, Sabra, ”, Starr Organizations: Hewlett Packard Enterprise, Philly Palestine Coalition, Philadelphia, Israel Locations: Philadelphia

☆ The Musk Versus Twitter of Trucking Mergers
▼ + stars: | 2023-11-01 | by ( Jon Sindreu | ) www.wsj.com time to read: 1 min

Forward Air agreed to buy freight forwarder Omni Logistics. PAUL PAGE/THE WALL STREET JOURNALIn most children’s games, there are no takesies-backsies. A similar principle seems to apply when a company signs a pretty ironclad contract to buy another. Late on Tuesday, Dallas-based freight forwarder Omni Logistics said that it had filed a lawsuit against trucking company Forward Air asking for the Delaware Court of Chancery to enforce the merger agreement that both companies signed back in August. This follows a statement last week in which Forward said it might terminate the controversial acquisition, arguing that Omni—which happens to be one of its trusted suppliers—had failed to comply with merger obligations.

Persons: PAUL, — Organizations: Forward, Omni Logistics, Forward Air, Delaware, Omni Locations: Dallas

☆ $1 Million Homes in Delaware, Idaho and North Carolina
▼ + stars: | 2023-11-01 | by ( Angela Serratore | ) www.nytimes.com time to read: +1 min

| $995,000An 1824 Federal townhouse with four bedrooms and three and a half bathrooms, on a 0.1-acre lotThis brick rowhouse is near the waterfront, with views of the Delaware River from the deck and backyard. Nearby Delaware Street is lined with stores and restaurants, including an ice cream shop and a tavern in a circa 1724 building. The University of Delaware is about half an hour away, in Newark. To the left is a formal living room with a fireplace that has a King of Prussia marble mantel. Through a wide doorway is a dining room with another fireplace, a brass chandelier and windows with painted wood shutters.

Persons: Bull Hill, King Organizations: First, Historical, New, Battery, University of Delaware Locations: Del, Delaware, Bull, Wilmington, Newark, Philadelphia, Prussia

☆ Exxon names new shale oil chief to replace executive facing assault charge
▼ + stars: | 2023-10-30 | by ( Sabrina Valle | Thomson Reuters | U.S. Energy Correspondent Focused In Covering Global Operations Of Oil Majors Out Of Houston. | ) www.reuters.com time to read: +3 min

Cahir has previously run Exxon's shale business including its XTO unit as senior vice president of Unconventional from July 2020 through April 2022. Unconventional is Exxon's term for shale oil and gas. That purchase will bring Exxon's shale output to 1.3 million barrels of oil and gas (boepd), more than a quarter of its overall production. Cahir led Exxon's Unconventional unit as senior vice president as Exxon implemented tough costs cuts following the collapse of oil and gas prices during the pandemic. NO PLEAFormer shale boss Scott appeared before a Texas judge last week on second-degree felony sexual assault.

Persons: Dado Ruvic, Bart Cahir, Cahir, Exxon Mobil's, David Scott, Scott, Dan Cogdell, Cogdell, Ken Paxton, Paxton, Sabrina Valle, Erwin Seba, David Gregorio, Jonathan Oatis Organizations: Exxon Mobil, REUTERS, Exxon, Pioneer, Solutions, Natural Resources, Exxon's, Texas, Thomson Locations: HOUSTON, Cahir, Midland, U.S, Delaware, Texas

☆ Goldman says dividend growth has been resilient and these stocks are the best at returning cash
▼ + stars: | 2023-10-25 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

He forecasts stable dividend growth of 5% this year and 4% in 2024. Chevron has a dividend yield of 3.6% in 2023, with a dividend compound annual growth rate of 5% to 2025. Its dividend compound annual growth rate of 8% to 2025 means the company's payout to its investors will continue to grow. The firm also has the highest dividend compound annual growth rate of 29% on the list. Investors can expect their cash returns to grow further through 2025, with a dividend compound annual growth rate of 14%.

Persons: Goldman Sachs, David Kostin, Kostin, Goldman, Hess, Blackstone, — CNBC's Michael Bloom Organizations: Devon Energy, Chevron, Wall Street, CNBC, Blackstone, Capri Holdings Locations: capex, Guyana, Delaware, Devon, Israel

"We don't want to see our forces or our personnel come under fire. But Cindy McCain, executive director of the U.N. World Food Program, said the situation in Gaza remained “catastrophic." We need secure and sustainable access in there, in that region, so we can feed people.”Four hundred aid trucks were entering Gaza daily before the latest war, she said. Biden also discussed the situation during separate conversations with Israeli Prime Minister Benjamin Netanyahu and Pope Francis. In an updated message to Americans in Iraq, the department said the security situation in Iraq made it impossible to carry out normal operations.

Persons: Antony Blinken, Lloyd Austin, Biden, ” Blinken, ” Austin, Blinken, ”, Joe Biden, Cindy McCain, Benjamin Netanyahu, Pope Francis . Biden, Netanyahu, Israel, McCain Organizations: —, Sunday, West Bank, U.S, Press, Food, White, The State Department, Embassy Locations: REHOBOTH BEACH, Del, United, Israel, Iran, U.S, Gaza, Syria, East, Iraq, Egypt, Delaware, Irbil, Austin

Like many other Black Protestant churches, Calvary Baptist struggled economically during the coronavirus pandemic. But the church has transformed its parking lot to accommodate game-day fundraisers, with volunteers from the congregation staffing the lots and selling spaces for $15 per vehicle. All 250 parking spaces at the Calvary lot were full when Messi’s Inter Miami played the Union. Sometimes, rival fans park at the church. The church parking lot is often full on game days.

Persons: Martin Luther King Jr, Keith Dickens, Calvary, ”, Dickens, Lionel Messi, Jeffrey Scholes, “, Scholes, ” Scholes, King, ” Abe Gitterman, Lisa Lewis, Leslie Cranford, RVs —, Jones, Cranford, Kevin Ness, Jill Connerym, Connery, Taylor, Kevin Ulmet Organizations: Eagles, NFL, Calvary Baptist Church, Major League Soccer, Philadelphia Union, Subaru, Union, Calvary Baptist, Green Bay Packers, MLS, Messi’s Inter Miami, Sports, Chester’s Crozer Theological Seminary . Chester, John’s United Methodist Church, Texas Tech, Red Raiders, T, ”, Christian Science Church, Red Sox, Christian, Christian Science, Bethany Church, Packers, Nashville, Church, Nazarene, Nissan, Tennessee Titans, Lilly Endowment Inc, AP Locations: CHESTER, Pa, Philadelphia, Delaware, Calvary, Lubbock , Texas, St, Boston, Fenway, Green Bay , Wisconsin, Nashville, Haiti, Kenya, “

☆ Why Fed officials aren’t addressing the Israel-Hamas war the way they did with Ukraine
▼ + stars: | 2023-10-17 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +7 min

Emma Jones, a spokesperson for the Fed, declined to comment on why many Fed officials, who in the past moved swiftly to acknowledge the war in Ukraine, weren’t addressing the war in Israel. There are some Fed officials who are starting to talk about it, though — albeit only when asked questions. Fed officials see little immediate threat to the US economyAtlanta Fed President Raphael Bostic was the first to speak about the war, at the American Bankers Association’s annual conference last Tuesday. That’s probably why more Fed officials were quicker to acknowledge the war in Ukraine, Dorn said. “I don’t think the Fed wants to look like they’re taking sides,” Dorn added — but said Fed officials could easily talk about it without looking partial.

Persons: Chris Waller, ” Waller, Michael Barr, Philip Jefferson, Michelle Bowman, Lorie Logan, Emma Jones, James Dorn, “, ”, Raphael Bostic, Bostic, Neel Kashkari didn’t, aren't, they're, Al Drago, Susan Collins, ” Collins, Patrick Harker, we’ve, Harker, JPMorgan Chase, Jamie Dimon, ” Dorn, Dorn, There’s, Gregory Daco, Daco Organizations: New, New York CNN, Federal Reserve, ”, Dallas Fed, Fed, Cato Institute, CNN, Atlanta Fed, American Bankers, Minot State University, Minneapolis, Federal, Bloomberg, Getty, ” Boston, Wellesley College, Philadelphia Fed, Delaware State Chamber of Commerce, JPMorgan, Rystad Energy Locations: New York, Ukraine, Russia, Israel, Waller’s, North Dakota, Delaware, Iran, Lebanon, Syria, United States, That’s, Gaza, Hormuz, EY

☆ Fox’s top lawyer blasts judge in Dominion case, says trial would’ve been ‘months of utter pain’
▼ + stars: | 2023-10-16 | by ( Marshall Cohen | ) edition.cnn.com time to read: +4 min

Viet Dinh, former Chief Legal and Policy Officer for Fox Corporation. Dinh said Davis issued “really illogical” rulings in the pretrial phase, which “hamstrung” Fox’s defense strategy. This artist sketch depicts Judge Eric Davis of Delaware Superior Court on the bench Monday, April 17, 2023, in Wilmington, Delaware. Elizabeth Williams/APThe judge ruled that none of Fox’s on-air statements about Dominion were true and rejected Fox’s attempts to throw the case out. Dominion made many of these messages public through court filings, and they painted an incredibly damning picture of Fox News.

Persons: CNN —, Viet Dinh, Eric Davis, ” Dinh, –, Donald Trump, Joe Biden, Fox, Dinh, Davis, ”, Eric Davis of, Elizabeth Williams, Fox’s, Tucker Carlson, “ Organizations: CNN, Fox, Dominion Voting Systems, Fox Corporation, Delaware, Harvard Law, ” Dominion, Fox News, Eric Davis of Delaware Superior Court, Dominion, Harvard Locations: Viet, Delaware, Wilmington , Delaware, Smartmatic

See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Inch Down a Tiny Bit (-0.04%)The current average 30-year fixed mortgage rate is 7.45%, down four basis points since this time last week. 20-Year Fixed Mortgage Rates Tick Down (-0.03%)The average 20-year fixed mortgage rate is down just three basis points from last week and sits at 7.18%. 15-Year Fixed Mortgage Rates Essentially Flat (-0.01%)The average 15-year mortgage rate is 6.63%, a single basis point decrease from last week. Mortgage rates have been volatile so far in 2023, and they're higher than they were in October 2022.

Persons: they're, Patrick Harker, Harker, you'll, refinance Organizations: Federal Reserve, Philadelphia Fed, Delaware State Chamber of Commerce, Zillow, FHA Locations: Delaware, Chevron

☆ Philadelphia Fed President Harker advocates holding interest rates 'where they are'
▼ + stars: | 2023-10-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Philadelphia Federal Reserve President Patrick Harker said Friday he thinks the central bank can stop raising interest rates. I believe that we are at the point where we can hold rates where they are," Harker said in prepared remarks for the Delaware State Chamber of Commerce. Reports this week showed that 12-month rates for inflation are coming down but remain above the Fed's 2% annual target. "We remain data dependent but patient and cautious with the data," he added. I didn't coin it, but my expectation is that rates will need to stay high for a while," he said.

Persons: Patrick Harker, Harker, specter Organizations: Philadelphia Federal, Delaware State Chamber of Commerce, Market, Wall Street Locations: Delaware

☆ These seven U.S. regions will receive $7 billion in federal funding to produce hydrogen
▼ + stars: | 2023-10-13 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +5 min

California Hydrogen Hub: The California Hydrogen Hub spans from Southern California to Northern California and encompasses three ports: Los Angeles, Long Beach and Oakland. Gulf State Hydrogen Hub: The Gulf State Hydrogen Hub will be centered in Houston, Texas, and will cover most of the Gulf Coast and southeast Texas. Mid-Atlantic Hydrogen Hub: The Mid-Atlantic Hydrogen Hub spans parts of Pennsylvania, Delaware and New Jersey and will take advantage of repurposed infrastructure along the Delaware River. Midwest Hydrogen Hub: The Midwest Hydrogen Hub is in Illinois, northwestern Indiana and southwestern Michigan and will produce hydrogen from, among other sources, nuclear power. Pacific Northwest Hydrogen Hub: The Pacific Northwest Hydrogen Hub encompasses eastern Washington, northeastern Oregon and some parts of Montana and will produce hydrogen for making fertilizer.

Persons: Joe Biden, U.S . Department of Energy Jennifer Granholm, Biden, It's Organizations: U.S . Department of Energy, White, Infrastructure Law, Hydrogen Locations: United States, West Virginia, Southeast Ohio, Pennsylvania, It's, California, Southern California, Northern California, Los Angeles, Long Beach, Oakland, Ports, Houston , Texas, Gulf, Texas . Texas, Minnesota, North Dakota, South Dakota, Delaware, New Jersey, Illinois, Indiana, Michigan, Pacific, Washington, Oregon, Montana

☆ US stocks trade mixed but notch weekly gains as interest rates fall ahead of Q3 earnings season
▼ + stars: | 2023-10-13 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks ended mixed but made weekly gains as investors digested lower interest rates and prepare for third-quarter earnings. The 10-year Treasury yield fell about 25 basis points from its 52-week high this week to 4.63%. A slew of bank earnings kicked off earnings season on Friday, and investors are expecting a rebound in profits. AdvertisementAdvertisementUS stocks were mixed on Friday but ended the week higher as investors digested a decline in interest rates and the start of the third-quarter earnings season. AdvertisementAdvertisementFriday also marked the start of third-quarter earnings season with results from several banks and financial institutions.

Persons: —, Patrick Harker, Wells Organizations: Treasury, Service, Federal Reserve, Philadelphia Fed, Delaware State Chamber of Commerce, JPMorgan, Citigroup, BlackRock, Dow Jones Locations: Israel, Delaware, Wells Fargo

☆ Tesla whistleblowers filed a complaint to the SEC in 2021, but the agency never interviewed them. Here's what the complaint said
▼ + stars: | 2023-10-12 | by ( Lora Kolodny | ) www.cnbc.com time to read: +22 min

With a "goodwill" repair, Tesla essentially foots the bill for labor, parts or accessories given to keep a customer happy. "Were Tesla to accurately categorize its 'goodwill' repairs as warranty repairs, it would likely need to restate earnings for every quarter since at least 2017," the tipsters wrote in their submission. In one example, the tipsters said screenshots showed other Tesla employees changed the status of material used in manufacturing from "scrap" to "work in progress." In another example, the complaint said screenshots showed Tesla employees had manually changed the status of "used" cars to "new" in a program that tracked vehicle deliveries data. In correspondence to the agency expanding on their complaint, the whistleblowers alleged this raises questions about the firm's independence and objectivity in judging Tesla's financials.

Persons: Brandon Bell, Elon, Tesla's, Tesla, Musk, Ann Lipton, Lipton, Karen Nelson, Nelson, Nicholas Parks, it's, Oxley, restate financials Organizations: Getty, U.S . Securities, Exchange Commission, SEC, PricewaterhouseCoopers, CNBC . Agency staff, CNBC, Twitter, Tulane Law School, University of Chicago Law School, Securities, Sarbanes, Oxley, Texas Christian University, Public Company, Tesla, Parks, Nelson, Business, Exchange, Board, SpaceX, The Boring, California Alternative Energy, Transportation Financing Authority Locations: Austin , Texas, Tesla, California, U.S, Delaware

☆ Wall Street needs a boost from earnings. Can JPMorgan Chase run a strong first leg?
▼ + stars: | 2023-10-12 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Analysts expect a 0.4% year-over-year decline in third-quarter earnings for companies in the S&P 500 index, according to FactSet. Analysts expect America’s biggest bank to report earnings per share of $3.90 and revenue of $39.57 billion for the third quarter, according to Refinitiv. Citigroup, Wells Fargo and BlackRock also report earnings Friday. “Our children are in crisis, and it is up to us to save them,” Hochul said, comparing social media algorithms to cigarettes and alcohol. Those who opt out would receive chronological feeds instead, like in the early days of social media.

Persons: ”, Michael Arone, Jay Hatfield, ” Hatfield, Banks, JPMorgan Chase, Jamie Dimon, Dimon, Wells, Chris Isidore, Darren Woods, Read, Kathy Hochul, Letitia James, Michael Mulgrew, Sen, Andrew Gounardes, Nily, “, ” Hochul, Athena Jones, Brian Fung Organizations: CNN Business, Bell, CNN, Investors, State Street Global Advisors, stoke, Infrastructure Capital Management, JPMorgan Chase, JPMorgan, First, Bank, Citigroup, ExxonMobil, Natural Resources, Midland Basins, New York Gov, New York, United Federation of Teachers Manhattan, New Locations: Wells Fargo, BlackRock, United States, Midland , Texas, Delaware, Midland, New York

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