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☆ Tesla created secret team to suppress thousands of driving range complaints
▼ + stars: | 2023-07-27 | by ( ) www.cnbc.com time to read: +19 min

He expected to get something close to the electric sport sedan's advertised driving range: 353 miles on a fully charged battery. The directive to present the optimistic range estimates came from Tesla Chief Executive Elon Musk, this person said. Driving range is among the most important factors in consumer decisions on which electric car to buy, or whether to buy one at all. Electric cars can lose driving range for a lot of the same reasons as gasoline cars — but to a greater degree. Independent automotive testers commonly examine the EPA-approved fuel-efficiency or driving range claims against their own experience in structured tests or real-world driving.

Persons: Daniel Acker, Alexandre Ponsin, Tesla, Elon Musk, Elon, Scott Case, Case, Gregory Pannone, Pannone, carmaker, Ford, Jonathan Elfalan, Edmunds, Elfalan, They've Organizations: Tesla Motors Inc, North American, Bloomberg, Getty, Reuters, Tesla, South, Environmental Protection Agency, EPA, Ford, Chevrolet, Hyundai Kona, National Science Foundation, SAE International, U.S, Porsche, Benz, EV, Independent, General Motors, Hyundai, Korea Fair Trade Commission, Service Locations: Detroit , Michigan, Colorado, California, Las Vegas, Austin , Texas, Nevada, U.S, Seattle, Vegas, Henderson, Utah

☆ Twitter staff are helping to remove bird logos at its HQ for the X rebrand, but one reportedly broke apart and is still there
▼ + stars: | 2023-07-25 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Elon Musk has started having Twitter's iconic blue bird logo removed at the headquarters. One sign couldn't be taken down as it broke apart, leaving remnants still attached, per an NYT reporter. As Twitter rebrands to X, staff are taking down the iconic blue bird logos at its San Francisco headquarters. The Times earlier reported that work had started on detaching a ten-foot-tall bird icon in the office's cafeteria. "This is an extremely risky move because with X, Musk is essentially starting over while its competition is afoot," he added.

Persons: Elon Musk, Ryan Mac, Yu Liu, Mike Proulx, Forrester, Proulx, Mark Zuckerberg's Organizations: Twitter, San, New York Times, Times Locations: San Francisco

WASHINGTON, July 21 (Reuters) - The White House on Friday launched an office to prepare for and respond to potential pandemics, to be led by Paul Friedrichs, a military combat surgeon and retired Air Force major general who helped lead the Pentagon's COVID response. The new Office of Pandemic Preparedness and Response Policy will also take over the duties of President Joe Biden's current COVID-19 and mpox response teams, the White House said. Friedrichs is currently special assistant to the president and senior director for Global Health Security and Biodefense at the White House National Security Council. The White House had been expected to cut down its COVID response team after the U.S. government in May ended its COVID Public Health Emergency. In June, the White House announced the departure of Ashish Jha, the last of the Biden administration's rotating COVID response coordinators.

Persons: Paul Friedrichs, Joe Biden's, Biden, Friedrichs, Ashish Jha, Kanishka Singh, Alison Williams Organizations: Air Force, of Pandemic, Global Health Security, White House National Security Council, White, U.S, White House, Biden, Thomson Locations: United States, Washington

☆ Terra Firma founder Guy Hands steps down from company's helm
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

"When I founded Terra Firma over 20 years ago, I vowed that I would retire from the firm 'when I'm 64', as per the eponymous Beatles song. Terra Firma will be led by Guy's son and managing director Richard Hands and its chief operating officer Paul Hatter, the company said in a statement. Guy Hands founded Terra Firma in 2002 through the spin-out of Japanese bank Nomura's Principal Finance Group (PFG), which he used to lead. Terra Firma is now invested in 39 companies with an aggregate enterprise value of 51 billion euros ($56.7 billion), according to the company's website. Other business backed by Terra Firma include Australian cattle company CPC.

Persons: Guy Hands, Guy's, Richard Hands, Paul Hatter, Terra, Hands, Julia, Pablo Mayo Cerqueiro, Iain Withers, Louise Heavens, David Holmes Organizations: Terra Firma Capital Partners, EMI, Terra Firma, Reuters, Sky News, Nomura's, Finance Group, Citigroup, CPC, Thomson

☆ US Powerball jackpot hits $1 billion
▼ + stars: | 2023-07-18 | by ( Rachel Nostrant | ) www.reuters.com time to read: +2 min

July 18 (Reuters) - The U.S. Powerball jackpot has reached a whopping $1 billion for only the third time in the game's history after another Monday night drawing produced no winning ticket. The Monday drawing was the 38th in a row without someone winning the top prize, which increases every time the jackpot goes unclaimed. The odds of winning the jackpot are one in 292.2 million, according to the Powerball website. The last winning jackpot ticket was picked on April 19, for a grand prize of $252.6 million. The largest Powerball jackpot ever won was in November, when a California man drew the lucky numbers for $2.04 billion.

Persons: David Shanosky, Shanosky, Rachel Nostrant, Matthew Lewis Organizations: U.S, New, RLI Insurance, Powerball, of Columbia, U.S ., Thomson Locations: Arkansas , Georgia, Texas, Connecticut , Florida , Kentucky, New York, Pennsylvania, California, of Columbia , Puerto Rico, U.S, U.S . Virgin Islands

☆ Israel's Netanyahu in hospital with probable dehydration
▼ + stars: | 2023-07-15 | by ( Dan Williams | ) www.reuters.com time to read: +3 min

REUTERS/Rami AmichaySummary 73-year-old PM suffered dizziness during breakIsraeli media say no indications he may be incapacitatedBenjamin Netanyahu is Israel's longest-serving leaderJERUSALEM, July 15 (Reuters) - Israel's Prime Minister Benjamin Netanyahu was admitted to hospital on Saturday with dizziness from apparent dehydration but was in good condition, his office said, and there were no indications of a potential handover of power. On Saturday, he was taken to Sheba Hospital in the town of Tel Hashomer, close to his private residence in coastal Caesarea. When then Prime Minister Ariel Sharon was felled by a stroke in 2006, he was succeeded by his deputy, Ehud Olmert. "I wish the prime minister a full recovery and good health," tweeted Yair Lapid, the centrist leader of the opposition. In early October, Netanyahu took ill during the Jewish fast of Yom Kippur and was also briefly hospitalised.

Persons: Benjamin Netanyahu, Rami Amichay, JERUSALEM, Netanyahu, Ariel Sharon, Ehud Olmert, Yariv Levin, Yair Lapid, Dan Williams, Andrew Cawthorne Organizations: Sheba Medical, REUTERS, Israel's, Sheba Hospital, Likud, Thomson Locations: Tel Hashomer, Ramat Gan, Israel, Galilee, Caesarea, Sheba, Yom Kippur

WASHINGTON, July 4 (Reuters) - Suspended Texas Attorney General Ken Paxton will not testify in his upcoming impeachment trial in the state Senate, his lawyer said late on Monday, indicating Paxton would fight efforts that may aim to compel a testimony from him. State legislators impeached Paxton on May 27 on charges including bribery and temporarily suspended him from office pending his trial in the Texas Senate. The Texas Senate will try Paxton on 20 articles of impeachment lodged against him. Paxton's impeachment trial will begin on Sept. 5, according to CBS Texas. "We will not bow to their evil, illegal, and unprecedented weaponization of state power in the Senate chamber," the attorney added.

Persons: Ken Paxton, Paxton, Donald Trump, Tony Buzbee, Kanishka Singh, Josie Kao Organizations: Texas, Supreme, The, The Texas Senate, CBS, Justice Department, Thomson Locations: Texas, The Texas, CBS Texas, Washington

☆ UK asks court to curb powers of COVID inquiry to see WhatsApp messages
▼ + stars: | 2023-06-30 | by ( Sam Tobin | ) www.reuters.com time to read: +2 min

LONDON, June 30 (Reuters) - British Prime Minister Rishi Sunak's government on Friday asked London's High Court to stop a public inquiry into its handling of the COVID-19 pandemic forcing it to hand over some internal WhatsApp messages. Britain's Cabinet Office refused to provide WhatsApp messages concerning the government's handling of the pandemic and other political issues earlier this month, saying some of the material sought was "unambiguously irrelevant". However, the Cabinet Office has brought a legal challenge over the inquiry's demands, which its lawyer James Eadie told the court was brought "with some considerable reluctance". Eadie added the WhatsApp messages contained references to personal and family information and "comments of a personal nature" about identifiable government figures. But lawyers representing Hallett said the limits the Cabinet Office sought to place on public inquiries' powers to compel the production of documents was "flawed and unworkable".

Persons: Rishi Sunak's, London's, Heather Hallett, Boris Johnson, James Eadie, Eadie, Hallett, Hugo Keith, Johnson, Keith, Mr Johnson, Sam Tobin, Paul Sandle Organizations: British, Thomson

☆ More than $200 billion in Covid loans potentially stolen by fraudsters, watchdog says
▼ + stars: | 2023-06-27 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

Fraudsters potentially stole more than $200 billion in federal loans intended to help small businesses struggling during the Covid pandemic, a government watchdog said on Tuesday. More than $136 billion from Economic Injury Disaster Loan program and $64 billion from the Paycheck Protection Program loans was potentially stolen, the inspector general found. In total, SBA disbursed $400 billion in EIDL funds and $800 billion in Paycheck Protection Program loans during the life of the programs. These investigations have led to nearly $30 billion in stolen loans being seized or returned by federal law enforcement agencies. The Economic Injury Disaster Loan program provided low-interest, fixed-rate loans to help small businesses nd other organizations to help cover their operating expenses.

Persons: Kevin Chambers, Hannibal, Mike, Ware, Michael Horowitz, Roy D, Dotson Jr, Bailey DeVries, DeVries, Trump, nonpayment Organizations: Department of Justice, Small Business Administration, United States Secret, Small, Administration, Injury, SBA Locations: Rayburn, Washington ,

☆ UN rights chief seeks to establish presence in China and India
▼ + stars: | 2023-06-19 | by ( Emma Farge | ) www.reuters.com time to read: +3 min

"I also believe that it is important for us to establish a presence for the first time in China and India." The U.S. said it is monitoring a rise in rights abuses in India by officials. New Delhi has said it values human rights. While human rights comprise one of the four United Nations "pillars", alongside peace and security, the rule of law and development, it gets just 4% of the general budget. Turk also called on the United States to act urgently on racial discrimination and to ratify six human rights treaties, including one on child rights.

Persons: Volker Turk, Michelle Bachelet, Turk, Emma Farge, Rachel More, Robert Birsel, Mark Heinrich Our Organizations: Human Rights, Human, Nations, Thomson Locations: United States, GENEVA, India, China, Syria, Iran, Israel, Russia, Geneva, Muslims, U.S, Delhi

☆ A Carnival cruise passenger was arrested by the FBI for sexually abusing his 9-year-old daughter
▼ + stars: | 2023-06-05 | by ( Marielle Descalsota | ) www.businessinsider.com time to read: +2 min

A Carnival cruise passenger was arrested by the FBI for sexually abusing his daughter. Justin Sigmon was recorded touching his daughter by a passenger and the ship's CCTV. The Federal Bureau of Investigations has arrested a Carnival cruise passenger for sexually abusing his nine-year-old daughter, according to a criminal complaint filed in the Southern District of Florida. On May 26, a passenger recorded Sigmon touching his daughter's thighs, and eventually moved towards her "private area," according to the complaint. According to the passenger, Sigmon covered his crotch with his hands after his daughter had moved away from him.

Persons: Justin Sigmon, Sigmon, Markenzy Lapointe Organizations: FBI, Federal Bureau of Investigations, Southern District of, US, Office Locations: Southern District, Southern District of Florida, Miami, Bahamas, Franklin

☆ Family offices are lifting their exposure to bonds and emerging-market equities, UBS survey says
▼ + stars: | 2023-05-31 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Family offices are making major shifts in their portfolios, increasing their exposure to bonds and emerging-market equities, according to a UBS survey. The wealthy cohort plans to raise developed market fixed income investments in 2023, with more than one-third of family offices aiming at high-quality, short-duration bonds, according to the survey, which earlier this year polled 230 global family offices. "The shift that's going on is very telling," Charles Otton, head of UBS' global family and institutional wealth business, told CNBC. "Developed market fixed income and government bonds are strongly attractive to family offices as they look to 2023 in a very different rate environment." Duquesne Family Office's Stanley Druckenmiller, for one, has been calling for a recession for a while .

Persons: Charles Otton, Otton, Office's Stanley Druckenmiller Organizations: UBS, CNBC, Federal, Duquesne

☆ Texas governor names interim attorney general to replace impeached Paxton
▼ + stars: | 2023-05-31 | by ( Brad Brooks | ) www.reuters.com time to read: +2 min

May 31 (Reuters) - Texas Governor Greg Abbott on Wednesday appointed an interim attorney general to fill in for Ken Paxton, who was impeached last week on allegations of corruption and other irregularities. Abbott said in a written statement that he had appointed John Scott, an attorney and former Texas secretary of state under Abbott, as interim attorney general. Scott also served as the Texas deputy attorney general for civil litigation from 2012 to 2015, during Abbott's own final term as attorney general. Paxton, 60, by law was suspended from his attorney general post after he was impeached by the Texas House of Representatives on Saturday. The Texas Senate will try Paxton on the 20 articles of impeachment lodged against him.

Persons: Greg Abbott, Ken Paxton, Abbott, John Scott, Scott, Paxton, Angela, Brad Brooks, Daniel Wallis Organizations: Texas, The, The Texas Senate, Justice Department, Justice, Thomson Locations: Texas, The Texas, Lubbock , Texas

☆ Meet a teacher with $44,000 in student debt who is worried she'll be thrown back into repayment in a few months without the public service relief she was promised
▼ + stars: | 2023-05-21 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Cherie Vaughn, 57, has $44,000 in student debt after working in public service for decades. But she's worried her account will not be up to date before student-loan payments resume this year. That's even after serving nearly three decades in public service, making her eligible for full loan forgiveness. "I guess I'm just looking for the actual public service part of this loan forgiveness. Do you have a story to share about student debt?

☆ Zelenskiy gets warm welcome at G7 summit
▼ + stars: | 2023-05-20 | by ( ) www.reuters.com time to read: +1 min

[1/4] Ukraine's President Volodymyr Zelenskiy and Indian Prime Minister Narendra Modi shake hands during the G7 leaders' summit in Hiroshima, Japan May 20, 2023. Ukrainian Presidential Press... Read moreHIROSHIMA, May 20 (Reuters) - Ukraine's President Volodymyr Zelenskiy received a warm welcome in Japan on Saturday after arriving to attend the Group of Seven (G7) summit in Hiroshima for back-to-back bilateral meetings with world leaders. Zelenskiy has so far met with Indian Prime Minister Narendra Modi, France's President Emmanuel Macron, and Britain's Prime Minister Rishi Sunak among others. We will be here to the very end," Macron told Zelenskiy. Modi also made clear his support for dialogue and diplomacy to find a way forward, according to a statement on his office's official Twitter account.

☆ 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.

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