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☆ Stanley Druckenmiller piles into these A.I. plays and other technology stocks
▼ + stars: | 2023-05-17 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Billionaire investor Stanley Druckenmiller bought into a few stocks tied to artificial intelligence last quarter, while piling into a handful of other names in the tech sector, according to a new regulatory filing. Druckenmiller said last week these two bets were his way of getting exposure to the booming AI space. He thinks that AI could be a fruitful opportunity for investors, especially when the economy comes out of what he thinks is an imminent downturn. The investor also built a sizable stake in Alphabet, another AI play, making it one of his top 10 holdings. Amazon was another new bet for Druckenmiller, who built an $84 million stake at the end of March.

☆ Michael Cohen is finally taking the Trump Organization to trial over unpaid legal bills in the Stormy Daniels saga
▼ + stars: | 2023-05-16 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

Michael Cohen's lawsuit against the Trump Organization is headed to trial in two months. His entanglement in the Stormy Daniels saga, the Mueller investigation, and more all stemmed from his former Trump Organization role, he alleges. The Trump Organization owes him $2.3 million in legal fees for all those cases and investigations, he says. The trial would also happen on the heels of a Manhattan trial, in federal court, over E. Jean Carroll's lawsuit against Trump. Attorneys for the Trump Organization and Cohen didn't immediately respond to Insider's requests for comment.

☆ Kevin McCarthy says he is still 'far apart' on a debt ceiling solution with Biden, warning they need a deal by the end of this week to avoid an economic catastrophe
▼ + stars: | 2023-05-15 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Kevin McCarthy said on Monday he thinks he is "far apart" on a debt ceiling solution with Biden. McCarthy said he thinks a deal needs to be reached by this weekend to avoid a default. McCarthy doesn't feel the same, telling reporters on Monday that he thinks both sides are "far apart" from reaching a deal. Biden and McCarthy are expected to meet again on Tuesday to move forward with discussions on a debt ceiling solution. "Default should be avoided, period," GOP Sen. Cynthia Lummis told Axios, adding that Biden and McCarthy "are going to have to negotiate through this."

☆ Former Trump probe prosecutor refuses to answer House Judiciary Committee questions
▼ + stars: | 2023-05-12 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Mark Pomerantz, author, "People vs. Donald Trump: An Inside Account," appears on "Meet the Press" in Washington, Feb. 12, 2023. A former prosecutor refused Friday to answer questions at a deposition by the House Judiciary Committee about a criminal investigation of Donald Trump in which he once played a leading role. The Judiciary Committee, whose chairman Rep. Jim Jordan of Ohio is a close Republican ally of Trump, has been investigating whether the Manhattan District Attorney's Office probe and charging of Trump was politically motivated. He argued he had the right to not answer questions if they were not pertinent "to a legitimate legislative function." Rep. Darrell Issa, R-Calif., a committee member, told reporters later Pomerantz refused to answer any questions at the deposition.

☆ US debt limit default could hit in early June to early August -think tank
▼ + stars: | 2023-05-09 | by ( David Lawder | ) www.reuters.com time to read: +3 min

WASHINGTON, May 9 (Reuters) - The U.S. government will begin defaulting on its payment obligations between early June and early August without an increase in the federal debt limit, the Bipartisan Policy Center said on Tuesday, flagging pressure from a drop in tax revenue. The Bipartisan Policy Center (BPC), which closely monitors debt limit disputes in Congress, had estimated in February the X-date could come between summer and early fall, but now sees a default hitting much earlier if Congress fails to raise the $31.4 trillion U.S. borrowing cap. "The coming weeks are critical for assessing the strength of government cash flows," Shai Akabas, BPC director of economic policy. The think tank's latest estimate roughly agrees with the Congressional Budget Office's revised assessment that there is now a "significantly greater risk" of an early June default. Later on Tuesday, President Joe Biden is scheduled to meet with U.S. House of Representatives speaker Kevin McCarthy and other congressional leaders to discuss options to resolve the debt limit standoff between Democrats and Republicans.

☆ How double-digit returns push family offices to invest in private credit
▼ + stars: | 2023-05-08 | 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 EmailHow double-digit returns push family offices to invest in private creditCNBC's Robert Frank joins 'The Exchange' to discuss Family Office's putting cash to work in private credit, the growing private credit market, and the response to bank tightening of lending conditions.

☆ Making these 5 moves can help you save big on the massive cost of college
▼ + stars: | 2023-05-04 | by ( Sharon Epperson | In Sharoneppersoncnbc | ) www.cnbc.com time to read: +7 min

As the mother of a college sophomore and high school senior, I know thinking about paying for college is daunting. Financial aid is determined by income information that is not necessarily up to date. If your circumstances are now different, that should be brought to the financial aid office's attention, he said. If you're concerned about making ends meet based on the financial aid award letter your child has already received, you can still ask for more aid. "So performing well throughout your high school career is not only important for admission but also for scholarship awards."

WASHINGTON, April 24(Reuters) - The U.S. Supreme Court on Monday declined to hear a challenge by computer scientist Stephen Thaler to the U.S. Patent and Trademark Office's refusal to issue patents for inventions his artificial intelligence system created. According to Thaler, his DABUS system, short for Device for the Autonomous Bootstrapping of Unified Sentience, created unique prototypes for a beverage holder and emergency light beacon entirely on its own. The U.S. Patent and Trademark Office and a federal judge in Virginia rejected his patent applications for the inventions on the grounds that DABUS is not a person. Thaler has also applied for DABUS patents in other countries including the United Kingdom, South Africa, Australia and Saudi Arabia with limited success. The UK's Supreme Court heard Thaler's appeal of his loss there in March.

The district attorney, Democrat Alvin Bragg, had earlier this week appealed a lower court's ruling that the Republican-led House of Representatives committee may depose Mark Pomerantz, who led the Trump probe before resigning in February 2022. Pomerantz's testimony had been scheduled for Thursday, but the 2nd U.S. In papers filed on Friday, Jordan said the subpoena was covered by a constitutional protection for "speech or debate" in Congress. He said Pomerantz's testimony was necessary for the committee to consider possible legislation to "help protect current and former Presidents from potentially politically motivated prosecutions." Bragg has said Pomerantz's testimony could improperly reveal confidential information related to his office's probe, and that Congress did not have oversight of state-level criminal cases.

In this Aug. 12, 2002 file photo, attorney Mark Pomerantz arrives at Federal Court in New York. A federal appeals court on Thursday temporarily blocked a House Judiciary Committee subpoena for testimony from a former Manhattan prosecutor who was involved in a criminal investigation of ex-President Donald Trump. In response to the subpoena to Pomerantz, Bragg sued the Judiciary Committee to try to block the former prosecutor from testifying. U.S. District Judge Mary Kay Vyskocil, a Trump nominee, on Wednesday denied Bragg's effort to invalidate the subpoena for Pomerantz. "The subpoena was issued with a 'valid legislative purpose' in connection with the 'broad' and 'indispensable' congressional power to 'conduct investigations,'" Vyskocil wrote in federal court in Manhattan.

☆ Judge allows congressional subpoena of ex-prosecutor in Trump probe
▼ + stars: | 2023-04-19 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +1 min

[1/2] New York County District Attorney Alvin Bragg speaks during a news conference at 1 Police Plaza in New York City, U.S., April 18, 2023. REUTERS/Brendan McDermid/File PhotoNEW YORK, April 19 (Reuters) - A U.S. judge said on Wednesday she would allow Congress to subpoena a former prosecutor who once led the Manhattan district attorney's criminal investigation into former U.S. President Donald Trump. Manhattan District Attorney Alvin Bragg, a Democrat, last week sued Republican Representative Jim Jordan to block a subpoena for testimony from Mark Pomerantz, a former prosecutor who once led the office's multiyear investigation of Trump. The subpoena came from the House of Representatives Judiciary Committee, which Jordan chairs. After hearing arguments in federal court in Manhattan on whether to block the subpoena, U.S. District Judge Mary Kay Vyskocil issued a written ruling approving the subpoena but encouraging the parties to reach a compromise as to how the subpoena of Pomerantz would proceed.

[1/2] New York County District Attorney Alvin Bragg speaks during a news conference at 1 Police Plaza in New York City, U.S., April 18, 2023. REUTERS/Brendan McDermid/File PhotoNEW YORK, April 19 (Reuters) - A U.S. judge on Wednesday said she would rule "promptly" in a standoff between the Manhattan prosecutor who got Donald Trump indicted and one of the former president's staunchest Republican allies in Congress. U.S. District Judge Mary Kay Vyskocil heard arguments from both sides on Wednesday in federal court in Manhattan. Bragg has called the subpoena an unconstitutional "incursion" into a state criminal case, and payback for charging Trump in the first indictment of a former U.S. president. Pomerantz urged Vyskocil to block the subpoena and said he played no role in Bragg's decision to charge Trump.

☆ Manhattan DA, Republican congressman to face off in court over subpoena in Trump case
▼ + stars: | 2023-04-19 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +2 min

[1/2] New York County District Attorney Alvin Bragg speaks during a news conference at 1 Police Plaza in New York City, U.S., April 18, 2023. A hearing is scheduled for 2 p.m. EDT (1800 GMT) in federal court in Manhattan before U.S. District Judge Mary Kay Vyskocil. Bragg has called the subpoena an unconstitutional "incursion" into a state criminal case, and payback for charging Trump in the first indictment of a former U.S. president. Jordan countered that lawmakers needed Pomerantz's testimony, now scheduled for Thursday, as they weigh legislation to let presidents move state criminal actions to federal court. Pomerantz urged Vyskocil to block the subpoena and said he played no role in Bragg's decision to charge Trump.

Bragg called the subpoena part of a "campaign of intimidation" by Trump's congressional allies in response to the first-ever criminal charges against a U.S. president. Trump is seeking the Republican nomination for the presidency in 2024. Jordan has said Bragg's charges against Trump demonstrated the need to evaluate Congress' provision of federal funds to local prosecutors. Bragg has accused Republican congressmen of trying to impede New York's "sovereign authority" and interfere in an ongoing criminal case. U.S. District Judge Mary Kay Vyskocil is set to hold a hearing in the case on Wednesday in federal court in Manhattan.

☆ Amazon workers seriously injured at more than twice the rate of other warehouses, study finds
▼ + stars: | 2023-04-12 | by ( Annie Palmer | ) www.cnbc.com time to read: +5 min

That's more than double the rate of all non-Amazon warehouses, which had 3.2 serious injuries for every 100 workers. Amazon's serious injury rate fell by about 3% between 2021 and 2022. The rate shot up to 6.8 serious injuries for every 100 workers in 2021, compared to a rate of 5.9 serious injuries for every 100 workers in 2020. While Amazon's serious injury rate fell between 2021 and 2022, its overall injuries increased. In 2021, Amazon set a goal to halve its warehouse injury rate by 2025.

☆ Elon Musk claims the only thing stopping him from turning part of Twitter's San Francisco HQ into a homeless shelter is the building's owner
▼ + stars: | 2023-04-12 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Elon Musk says he wants to turn one of Twitter's San Francisco buildings into a homeless shelter. "We're only using one of the buildings so the other building could be a homeless shelter," Musk said. The building's owners didn't immediately respond to Insider's request for comment, made outside of regular working hours. When asked for further details about how the homeless shelter would operate, Musk said: "I don't know, we could just let people stay there. Twitter opened its first office in San Francisco in 2006 and the company's HQ has been based there ever since.

☆ Ukraine's military intel chief privately warned Bakhmut was 'catastrophic' as he made a gamble to get it under control, leaked documents show
▼ + stars: | 2023-04-11 | by ( Jake Epstein | ) www.businessinsider.com time to read: +7 min

The disclosure offers a glimpse into Ukrainian decision-making as Russian forces were closing in. Ukrainian soldiers ride atop a tank in the frontline in Bakhmut, Donetsk region, Ukraine, Monday, Feb. 20, 2023. The leaked US intelligence on Bakhmut, which offers insight into high-level Ukrainian decision-making, is only a slice of what the documents contain about Kyiv's military. One document in particular includes information about casualties on each side and indicates that more than twice as many Russian soldiers as Ukrainian soldiers have died fighting. Ukrainian soldiers help a wounded comrade into an evacuation vehicle in the frontline in Bakhmut, Donetsk region, Ukraine, Monday, Feb. 20, 2023.

☆ Republican House chairman subpoenas former prosecutor Pomerantz in Trump probe
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, April 6 (Reuters) - Jim Jordan, the Republican chair of the U.S. House of Representatives Judiciary Committee, on Thursday issued a subpoena to Mark Pomerantz, a former prosecutor who led the Manhattan district attorney's investigation of Donald Trump. Bragg told reporters Tuesday the charges were part of the office's history of "vigorously enforcing white collar crime." Pomerantz, who left the office early last year, did not immediately respond to a request for comment. He previously led a sprawling probe into Trump's business practices but he resigned shortly after Bragg, a Democrat, took office in 2022 and declined to pursue an indictment of Trump based on that probe. "Pomerantz's public statements about the investigation strongly suggest that Bragg's prosecution of President Trump is politically motivated," Jordan said in a statement on Thursday.

☆ Bill Barr says an indicted Trump shouldn't take the stand in New York because 'he lacks all self-control'
▼ + stars: | 2023-04-03 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

He said it would be a "particularly bad idea" for Trump to testify because he "lacks all self-control." "I'm not his lawyer, generally I think it's a bad idea to go on the stand," Barr replied. "And I think it's a particularly bad idea for Trump because he lacks all self-control, and it would be very difficult to prepare him and keep him testifying in a prudent fashion." Barr served as attorney general under Trump from February 2019 to December 2020 and was considered a close Trump ally. In response to Barr's book, Trump called the former attorney general "slow-moving," "pathetic," and "weak."

☆ Rich families skimp when it comes to cybersecurity, and it can cost them millions
▼ + stars: | 2023-04-01 | by ( Paige Hagy | Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

More than one-third of North American family offices experienced at least one cyberattack in the past 12 months in 2022, per Campden. It comes down to three problems, said Bobby Stover, who leads family office and enterprise services at Ernst & Young. When it comes to cybersecurity, family office principals are cheap, uneducated, and "don't want to deal with it," he told Insider. They cost anywhere from $25,000 to $65,000, and family offices often struggle to understand the benefit, according to Stover. One survey found an incident that cost a family office more than $10 million.

☆ North Korea accuses Ukraine of having nuclear ambitions
▼ + stars: | 2023-04-01 | by ( ) www.reuters.com time to read: +1 min

Kim said this kind of petition could be a political plot by President Volodymyr Zelenskiy's office, but did not provide any evidence for the assertion. Following Russian President Vladimir Putin's announcement last week that Moscow plans to station tactical nuclear weapons in Belarus, a public petition was filed to the Ukrainian presidential office's website on Thursday, calling for Ukraine to host nuclear weapons on Ukrainian territory, or for it to be armed with its own nuclear weapons. By Saturday afternoon, the petition had gained only 611 signatures, far short of the 25,000 needed for a response from Zelenskiy. North Korea is forging closer ties with Kremlin amid shared isolation by the West and it supported Moscow's position after Russia invaded Ukraine last year, including its later proclaimed annexation of parts of Ukraine that most U.N. members condemned as illegal. Reporting by Hyunsu Yim in Seoul and Max Hunder in Kyiv Editing by Frances KerryOur Standards: The Thomson Reuters Trust Principles.

☆ North Korea accuses Ukraine of having nuclear ambitions - KCNA
▼ + stars: | 2023-04-01 | by ( ) www.reuters.com time to read: +1 min

SEOUL, April 1 (Reuters) - North Korea's Kim Yo Jong, the powerful sister of leader Kim Jong Un, accused Ukraine of calling for nuclear weapons, state media KCNA reported on Saturday, basing her assertion on an online petition in that country that has drawn under 1,000 signatures so far. Kim said this kind of petition could be a political plot by President Volodymyr Zelenskiy's office, but did not provide any evidence for the assertion. Following Russian President Vladimir Putin's announcement last week that Moscow plans to station tactical nuclear weapons in Belarus, a public petition was filed to the Ukrainian presidential office's website on Thursday, calling for Ukraine to host nuclear weapons on Ukrainian territory, or for it to be armed with its own nuclear weapons. By Saturday afternoon, the petition had gained only 611 signatures, far short of the 25,000 needed for a response from Zelenskiy. Reporting by Hyunsu Yim in Seoul and Max Hunder in Kyiv Editing by Frances KerryOur Standards: The Thomson Reuters Trust Principles.

☆ Manhattan DA office blasts House Republicans for collaborating with Trump's efforts to paint his indictment as 'politically motivated'
▼ + stars: | 2023-03-31 | by ( Jacob Shamsian | Oma Seddiq | ) www.businessinsider.com time to read: +5 min

The Manhattan district attorney's office blasted House Republicans in a letter dated Friday. Three committee chairmen have subpoenaed DA Bragg over the office's investigation into Trump. "What neither Mr. Trump nor Congress may do is interfere with the ordinary course of proceedings in New York State," the DA's general counsel, Leslie Dubeck, added. In the aftermath of the indictment, he rallied his congressional Republican allies, who had been trying to investigate the Manhattan district attorney's office, for support, according to CNN. Friday's letter says any interference in an ongoing criminal investigation would be "unprecedented and illegitimate," and jeopardize Trump's privacy rights.

☆ Former Manhattan prosecutor says DA 'damn well better win' after Trump indictment because the reputation of the office is at stake
▼ + stars: | 2023-03-31 | by ( Kelsey Vlamis | Natalie Musumeci | ) www.businessinsider.com time to read: +3 min

A former prosecutor for the Manhattan district attorney's office said the office better win its case against Trump. He told Insider the "credibility and reputation" of the entire office was at stake. Mark Bederow, a high-profile criminal defense attorney and former Manhattan prosecutor, told Insider the whole DA office's reputation depends on it. Bederow added that the Manhattan district attorney's office has "immersed itself in a presidential election" by bringing charges against a former president, something that has never happened in US history. Bederow previously told Insider that a case against Trump based solely on the hush-money payments was "likely to fail."

☆ Alvin Bragg: Who is the New York prosecutor who got Trump indicted?
▼ + stars: | 2023-03-31 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

Companies Trump Organization Inc FollowNEW YORK, March 31 (Reuters) - Donald Trump's indictment has thrust into the spotlight Alvin Bragg, the prosecutor whose office convinced a New York grand jury to bring the first criminal charges ever against a former U.S. president. Bragg, 49, took office in January 2022, the first Black person elected Manhattan District Attorney. In 2021, Bragg won a crowded primary for the Democratic nomination to succeed Cyrus Vance as Manhattan District Attorney. "I've done this type of work under this type of scrutiny," Bragg said during the campaign, referring to the case against the Trump Foundation. Bragg came under criticism last year for declining to bring charges against Trump over his family real estate company's business practices.

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