DIRS.INFO The most relevant business & tech news

☆ Scott Turner, a former NFL player and Trump’s pick to lead Housing and Urban Development, faces a difficult task
▼ + stars: | 2024-11-26 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

Donald Trump ran on the promise of steep government budget cuts, and some industry experts believe money flowing toward HUD could be on the chopping block. The housing agency provides rental assistance for low-income households, administers mortgage insurance to prospective homeowners and enforces fair housing law. During Trump’s first term, his office repeatedly sought to make steep cuts to HUD’s budget, though they never passed Congress. If Trump successfully implements budget cuts “there will be longer waiting lists for housing vouchers. Liz Osborn, the vice president of policy at Enterprise Community Partners, a nonprofit focused on home access and affordability, said that HUD budget cuts in Trump’s second term aren’t a guarantee, though.

Persons: Scott Turner, Donald Trump, ”, Bob Greenstein, Turner, Ben Carson, Trump’s, Carl Harris, ” Harris, Bob Broeksmit, Broeksmit, Trump, Ginnie Mae, ” Broeksmit, Elon Musk, Vivek Ramaswamy, that’s, Howard Husock, Biden, ” Husock, Husock, Liz Osborn, “, ” Osborn, ” Turner, ” Trump, JPMorgan Chase Organizations: CNN, Department of Housing, Urban Development, Brookings Institution, NFL, National Association of Home Builders, HUD, Mortgage Bankers Association, Federal Housing Administration, “ Department, Government, American Enterprise Institute, Enterprise Community Partners, White, Economic, Scott’s, Urban Institute, JPMorgan Locations: America, Trump’s

☆ Charles and Catherine Romer: 1980 cold case may get answers after car is found submerged in Georgia pond
▼ + stars: | 2024-11-26 | by ( Hanna Park | ) edition.cnn.com time to read: +2 min

“The vehicle is similar to the description of a vehicle that Charles and Catherine Romer were believed to be driving when reported missing in April 1980,” the Glynn County Police Department announced on social media Saturday. No official determination has been made about the identity of the remains found, Glynn County police said. CNN has reached out to the Glynn County Police Department for further information. “A rear end of a car, the car was tearing apart. The police officer said there were two deceased bodies in the car,” Fahs told CNN affiliate WFOX/WJAX.

Persons: Charles, Catherine Romer, Housekeepers, Barry Fahs, ” Fahs, ” Christine Seaman Heller, Catherine Romer’s, ” Seaman Heller, “ It’s Organizations: CNN, Lincoln Continental, Police Department, Inn, WABC, New, Authorities, Team, Sunshine, Sonar, Ford, Continental Locations: Georgia, New York, Glynn, Miami, Brunswick, New Jesup, Camden, Scarsdale , New York

Jack Smith arrived in Washington almost two years ago with expectations that his assignment to investigate Donald J. Trump would be profoundly consequential. Mr. Smith filed two federal indictments against Mr. Trump, the first ever against a former president. The Justice Department has a longstanding policy against prosecuting a sitting president. The legacy of Mr. Smith’s investigation is shaping up to be a complex one. And for all Mr. Smith’s efforts to avoid having his work enmeshed in politics, Mr. Trump essentially put the voters between himself and federal prosecutors.

Persons: Jack Smith, Donald J, Trump, Smith, Trump’s Organizations: Mr, The, Department, Justice Department Locations: Washington

☆ Trump’s evasion of January 6 accountability will echo for next four years and generations to come
▼ + stars: | 2024-11-26 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

The federal elections case led to a Supreme Court ruling granting a president limited immunity for official acts. This is likely to reinforce Trump’s belief that he will have almost unchecked authority and will therefore reverberate through the next four years and generations to come. And by voting the way they did, Americans effectively exonerated him in the federal cases — on charges that could have landed him in jail. Drew Angerer/Getty ImagesWhat the thwarting of accountability meansThere will be short- and long-term consequences from Trump escaping accountability. But he also portrayed Trump’s evasion of a trial as a dark day for America.

Persons: Jack Smith, Donald J, Trump, Trump’s, –, “, Smith, ”, Donald Trump, Drew Angerer, ” James, Julia Chatterley, “ It’s, Tanya Chutkan, Merrick Garland, Garland, —, I’m, Steven Hirsch, ” Trump, ” Smith, Joe Biden, Dan Goldman, CNN’s Boris Sanchez Organizations: CNN, Trump, Capitol, Department, US, Hofstra University, CNN International, Democrat, Justice Department, Democrats, Democratic House, stoke, Republican Party, Republican, Manhattan Criminal, FBI, MAKE, New York Democrat, America, United Locations: United States, America, Washington ,, Washington, New York, Georgia, New York City, Florida

☆ Hong Kong is becoming a hub for financial crime, US lawmakers say
▼ + stars: | 2024-11-26 | by ( Nectar Gan | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Hong Kong has become a center for money laundering and sanctions evasion under the tightening grip of Beijing, US lawmakers have warned, calling for a re-evaluation of America’s close business relationship with the Asian financial hub. “We must now question whether longstanding US policy towards Hong Kong, particularly towards its financial and banking sector, is appropriate,” they added. Rubio, a fierce critic of Beijing’s crackdown on Hong Kong, has sponsored legislation that sanctioned Chinese and Hong Kong officials for alleged human rights violations in the city. This has massive implications for US businesses with big exposure to Hong Kong,” Fish said. “Sadly, the idea of Hong Kong as autonomous from China is now a farce … US companies need to understand that their Hong Kong operations will likely fall under increased scrutiny.”

Persons: Janet Yellen, ”, “, Donald Trump, Hong Kong, John Moolenaar, Raja Krishnamoorthi, Trump, Marco Rubio, Rubio, Scott Bessent, Isaac Stone Fish, Bessent –, ” Fish Organizations: Hong Kong CNN, CNN, US Treasury Department, Hong, European Union, Treasury Department, Republican Rep, White, US Locations: Hong Kong, Beijing, China, Washington, Hong, Russia, North Korea, People’s Republic of China, Iran, Ukraine, Russian, United Kingdom

☆ Spirit Airlines, Delta: Airlines make billions charging ‘junk fees,’ congressional report says
▼ + stars: | 2024-11-26 | by ( Pete Muntean | ) edition.cnn.com time to read: +4 min

CNN —Airlines have pocketed billions of dollars in so-called “junk fees” by charging customers extra to select a seat or to carry on bags, according to a Senate subcommittee report published on Tuesday. The report said some airlines have even paid workers cash incentives to identify customers trying to avoid fees for carry-on bags. The report, from the Senate Permanent Subcommittee on Investigations, said that in 2023, United Airlines charged as much as $319 for an extra legroom seat, Spirit Airlines charged as much as $299, Delta Air Lines charged as much as $264, Frontier Airlines charged $141 and American Airlines charged as much as $140. “The subcommittee clearly lacks appreciation for the fact that air travel today is democratized, allowing Americans across all income levels to fly. Today, because of the revolution in air travel, nearly ninety percent of Americans have flown.

Persons: “, Biden, Pete Buttigieg, ” Organizations: CNN — Airlines, Investigations, United Airlines, Spirit Airlines, Delta Air Lines, Frontier Airlines, American Airlines, Biden Administration, Department of Transportation, Frontier, ” Frontier, CNN, Airlines, Industry, America, ” Locations: ”, Delta, United

Greg Abbott challenged President Joe Biden at almost every turn on the handling of the US southern border, as the state grappled with multiple border surges. Abbott described the upcoming border actions as a coordinated effort between border states and Washington. Texas officials and federal officials have historically worked together on the US-Mexico border. Texas state officials tout the work of their operation, arguing it served as a deterrent, and federal officials cite Biden’s executive action that levied harsher consequences for border crossers. “Texas has really been a lab for how mass round-ups of immigrants would work and how you can practically do it,” said Kristin Etter, the director of policy and legal Services at the Texas Immigration Law Council.

Persons: Greg Abbott, Joe Biden, Abbott, “ We’re, ” Abbott, Fox News ’ “ Hannity, ”, Donald Trump’s, “ We’ve, Trump, —, Michael Banks —, Tom Homan, Banks, Biden, Brad Coe, he’s, “, Coe, who’ve, Tom Schmerber, Schmerber, I’d, dueled, –, Kristin Etter Organizations: CNN, Trump, Texas Gov, Lone Star, Democratic, Fox News, Biden White, Customs, Abbott, Texas National Guard, Texas Department of Public Safety, Fox Business, National Guard, Homeland Security, Texas, Operation Lone Star, Republican, Maverick, Democrat, Department of Homeland Security, Biden Justice, Justice Department, Circuit, Texas Immigration Law Council Locations: Texas, Rio, But Texas, — Texas, Mexico, Washington, Kinney County, Maverick, Maverick County, Rio Grande, El Paso, “ Texas

☆ California proposes its own EV buyer credit — which could cut out Elon Musk's Tesla
▼ + stars: | 2024-11-26 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

Gavin Newsom plans to revive California's EV rebate if Trump ends the federal tax credit. Tesla sales in California, the US's largest EV market, have recently declined even as overall EV sales in the state have grown. Elon Musk, who has expressed support for ending the federal tax credit, said in an X post it was "insane" for the California proposal exclude Tesla. The federal electric vehicle tax credit, which was passed as part of the Biden administration's Inflation Reduction Act in 2022, provides a $7,500 tax credit to some EV buyers. The Tesla CEO said on an earnings call in July that ending the federal tax credit might actually benefit the company.

Persons: Gavin Newsom, Tesla, Elon Musk, Donald Trump, Newsom, Trump, He's, Musk, Graham Rapier, — Organizations: Trump, California Gov, Trump Administration, Reduction Fund, Bloomberg News, Business, Car Dealers, EV, Hyundai, BMW, Biden, Department of Government Locations: California, Trump's

CNN —The Israeli security cabinet on Tuesday voted to approve a ceasefire deal in Lebanon, an Israeli official told CNN, potentially bringing an end to more than a year of cross-border skirmishes with Hezbollah and months of a full-scale war that has killed thousands. Resolution 1701 was adopted to end a 34-day war between Israel and Lebanon in 2006, and had kept relative calm in the area for nearly two decades. At least 10 people were killed in the strikes on central Beirut, the Lebanese Health Ministry said. Israeli Prime Minister Benjamin Netanyahu speaks during a televised address Tuesday evening. In his address, Netanyahu stressed that Israel will respond “forcefully” if Hezbollah violates the agreement and attempts to rearm.

Persons: Israel, Benjamin Netanyahu, ” Netanyahu, Itamar Ben Gvir, ”, Ben Gvir, Avihay Shtern, Shmona –, “, Shmona ”, ” Shtern, Netanyahu Organizations: CNN, UN, Lebanese, Lebanese Health Ministry, US State Department, National Locations: Lebanon, Israel, Beirut, –, Gaza, Israel’s

☆ It’s expensive to visit the Maldives. Now it’s more expensive to leave, too
▼ + stars: | 2024-11-26 | by ( Lilit Marcus | ) edition.cnn.com time to read: +2 min

CNN —The Maldives, with its sprawling white sand beaches and dazzling coral reefs, is one of the world’s most expensive holiday destinations. Now, though, this Indian Ocean archipelago nation has just increased the price it costs to leave. The departure tax is broken down per passenger based on the class of service they’re using to fly out of the Maldives. Located off the coast of India, the Maldives has a population of about 525,000 across more than 1,000 islands and atolls. Geography makes the Maldives an easy sell for high-end brands, as hotels and resorts can easily have their own private island.

Persons: MIRA, St Regis Organizations: CNN, Passengers, Maldivian Inland Revenue Authority, International, Ritz Carlton, US State Department Locations: Maldives, Delhi, London, Maldivian, MIRA, India, Malé

☆ Biden proposes Medicare and Medicaid cover costly weight-loss drugs for millions of obese Americans
▼ + stars: | 2024-11-26 | by ( ) www.cnbc.com time to read: +4 min

Millions of Americans with obesity would be eligible to have popular weight-loss drugs like Wegovy or Ozempic covered by Medicare or Medicaid under a new rule the Biden administration proposed Tuesday morning. Some people may already get coverage of the drugs through Medicare or Medicaid if they have diabetes or are at risk for stroke or heart disease. Becerra estimated that an additional 3.5 million people on Medicare and 4 million on Medicaid could qualify for coverage of the drugs. But research suggests far more people might qualify, with the Centers for Medicare and Medicaid Services estimating roughly 28 million people on Medicaid are considered obese. In speeches and on social media, he's said the U.S. should not cover the drugs through Medicaid or Medicare.

Persons: Wegovy, Biden, Robert F, Kennedy Jr, Donald Trump's, Xavier Becerra, Trump, Becerra, Eli Lilly, Zepbound, Kennedy, he's Organizations: Novo Nordisk, U.S . Department of Health, Human Services, U.S . Health, Associated Press, Medicare, Centers, Services, Food and Drug Administration Locations: London, Britain, U.S, Novo

☆ How Trump's new tariff threats knocked one of our stocks but not the market
▼ + stars: | 2024-11-26 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Investors didn't seem too bothered by President-elect Donald Trump 's new tariff threats Monday evening. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Donald Trump, Amgen, Eli Lilly, Lilly, Jim Cramer's, Trump, Jim, Bill Newlands, Roth MKM, Roth, Amit Mehta, Mehta, Trump's, Morgan Stanley, CNBC's Matthew J, Belvedere Organizations: CNBC, ., Nasdaq, Dow Jones, Dow, Novo Nordisk, Constellation Brands, Modelo, Corona, Justice Department, Anheuser, Busch InBev, Grupo, Google, Reuters, DOJ, Chrome, Economic, of Chicago, Labor Department, Jim Cramer's Charitable Locations: Mexico, China, United States, U.S

☆ Medicare, Medicaid: 7.4 million Americans could gain coverage for anti-obesity drugs under Biden proposal
▼ + stars: | 2024-11-26 | by ( Tami Luhby | ) edition.cnn.com time to read: +4 min

CNN —Millions more senior citizens and lower-income Americans could obtain coverage for costly anti-obesity drugs under a proposal being unveiled Tuesday by the Biden administration. Some Medicare enrollees could see their out-of-pocket costs drop by as much as 95%. The incoming Trump administration may not view expanding coverage of anti-obesity drugs as favorably. About 3.6 million Medicare enrollees with cardiovascular disease could be newly eligible for Wegovy, according to a KFF analysis released in April. Not all job-based health insurance plans cover anti-obesity medications, though larger employers are more likely to offer the benefit.

Persons: Biden, It’s, Joe Biden, Trump, Robert F, Kennedy Jr, Donald Trump, Dr, Mehmet Oz, don’t Organizations: CNN, Medicare, Department of Health, Human Services, RFK Jr, Fox, Services, Trump, Medicare enrollees, Food and Drug Administration, Congressional, Survey Locations: That’s, KFF

☆ Small caps historically outperform even the Santa Claus rally, starting before Thanksgiving
▼ + stars: | 2024-11-26 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

The weeks heading into year-end often mark a bullish time for stocks, and smaller companies especially might be poised for outperformance. With that in mind, Jeffrey Hirsch, editor-in-chief of the Stock Trader's Almanac, believes investors should buy small caps from the Tuesday before Thanksgiving this year and hold them until Jan. 3rd, 2025. The tendency for small caps to outperform large caps from mid-December through January, combined with the so-called Santa Claus rally right around Christmas, can bolster small-cap growth stocks, Hirsch said. That rally "rhymes with the post-2016 election move," according to John Hancock Investment Management co-chief investment strategist Emily Roland. He's really focused more on the food companies, eating healthier, vaccine companies and just making sure they're held to the same standards."

Persons: Jeffrey Hirsch, Jan, Hirsch, Santa Claus, Donald Trump's, Russell, What's, Emily Roland, Julie Biel, Kayne Anderson, Biel, Gregg Fisher, Matt Unger, Robert F, Kennedy Jr, Unger, they're Organizations: Stock, CNBC, Regional Banking, John Hancock Investment Management, Quent, Osterweis Opportunity, Trump, Department of Health, Human Services, RFK Locations: Santa

☆ Does the United States Have an Infertility Crisis?
▼ + stars: | 2024-11-26 | by ( Dani Blum | ) www.nytimes.com time to read: +1 min

It’s become a popular talking point among some of President-elect Trump’s most prominent supporters: America has an infertility problem. “Why are so many couples infertile?” Robert F. Kennedy Jr., Mr. Trump’s nominee to lead the Department of Health and Human Services, asked in a September post on the social media site X. Dr. Casey Means, a former surgeon and health influencer who has advised Mr. Kennedy, has called infertility a “crisis.”And Mr. Trump himself has said he would task Mr. Kennedy with investigating “the decades-long increase in chronic health problems,” including infertility, or the medical inability to conceive. Like people in many other developed regions across the globe, Americans are having fewer children now than before — a demographic trend that has alarmed some conservatives in particular. Some of that is likely a result of social and economic factors, like steep child care costs, housing prices and more people choosing to forgo starting families.

Persons: It’s, Trump’s, Robert F, Kennedy Jr, Casey Means, influencer, Kennedy, Trump Organizations: America, Department of Health, Human Services

☆ ‘We enjoy this sometimes’: The rhetorical battle between Justices Alito and Kagan at the Supreme Court
▼ + stars: | 2024-11-26 | by ( Joan Biskupic | ) edition.cnn.com time to read: +15 min

CNN —The morning after Donald Trump was reelected president, Justices Samuel Alito and Elena Kagan began jousting more than usual. More than other justices on their respective sides, conservative Alito and liberal Kagan are sharp-tongued strategic questioners. As usual, Alito and Kagan began referring to each other’s questions but with barely a glance toward the other at their elbow. Skeptical of the litigants’ case, Alito asked their lawyer Deepak Gupta why Huang would have put out financial information that could be quickly exposed as wrong. Then Alito said, “Well, I don’t want to derail … Justice Kagan had a number of hypotheticals, but I don’t want to interrupt that.”Kagan seemed miffed, but only slightly.

Persons: Donald Trump, Samuel Alito, Elena Kagan, Alito, Kagan, Trump, Anthony Kennedy, ”, ” Alito, you’ve, ” Kagan, it’s, gesturing, John Roberts, improvidently, Jensen Huang, Deepak Gupta, Huang, Gupta, “ Huang, “, “ You’re, ” Gupta, Biden, Elizabeth Prelogar, Bostock, Biden’s, John Sauer, Sauer, Noel Francisco, Francisco, Amy Coney Barrett, Dobbs, George W, Bush, Alito’s, “ Sam, ” Bush, Barack Obama, Adam Unikowsky, Edmund LaCour, LaCour, “ Let’s, …, general’s Organizations: CNN, Kagan, Trump, Meta, Investors, Facebook, Cambridge Analytica, Amalgamated Bank, Department, Nvidia, Texas Rangers, Philadelphia Phillies, Alabama, Alabama Supreme Locations: America’s, Trenton , New Jersey, Swedish, Clayton County, Bush, Alabama

☆ Biden Cuts Intel’s Chip Award
▼ + stars: | 2024-11-26 | by ( Ana Swanson | Tripp Mickle | ) www.nytimes.com time to read: +1 min

The Biden administration said Tuesday that it would award up to $7.86 billion in direct funding to Intel, with the U.S. chip giant set to receive at least $1 billion of that money before the end of the year. The money is a reduction from Intel’s preliminary award of $8.5 billion, which President Biden announced during a visit to the company’s Arizona plant in March. The Commerce Department said it had reduced Intel’s grant because the chip maker, the biggest recipient of money under the CHIPS Act, also received a $3 billion contract to make semiconductors domestically for the military. But the Commerce Department also detailed in a project document that Intel, which is under financial pressure because of a sales slump, had extended timelines for some projects beyond a 2030 government deadline. It also reduced the estimated jobs it would create in Ohio, where it will require 3,500 fewer employees than the 10,000 it previously estimated, the Commerce Department said.

Persons: Biden Organizations: Intel, Commerce Department Locations: U.S, Arizona, United States, Ohio

☆ Hannah Kobayashi: What we know about missing Hawaii woman and the death of her father
▼ + stars: | 2024-11-26 | by ( Michelle Watson | Caroll Alvarado | ) edition.cnn.com time to read: +6 min

CNN —It’s been two weeks since Hawaii woman Hannah Kobayashi went missing after she did not board a connecting flight to New York City during a layover at Los Angeles International Airport on November 8. Her father, Ryan Kobayashi, was found dead Sunday, after he had traveled to Los Angeles to search for her. The Los Angeles County medical examiner’s office determined he died by suicide. The Kobayashi family said the “devastating tragedy” only adds to their anguish. “After tirelessly searching throughout Los Angeles for 13 days, Hannah’s father, Ryan Kobayashi, tragically took his own life.

Persons: CNN — It’s, Hannah Kobayashi, Ryan Kobayashi, Ryan Kobayashi’s, Kobayashi, “, Hannah’s, Hannah, New York Hannah, John F, Sydni, LeBron, –, texted, ”, Los Angeles Police Department’s, ‘ Ryan, Ryan, “ Hannah, CNN’s Veronica Miracle, “ I’m, Larie Pidgeon, ” Pidgeon, fiancée, ” CNN’s Karina Tsui, Amanda Jackson, Elizabeth Wolfe, Maria Aguilar Prieto, Natasha Chen, Chris Boyette Organizations: International Association for Suicide Prevention, Befrienders, CNN, Los Angeles International Airport, LAPD, CNN –, John, Kennedy International Airport, Taschen, YouTube, Nike, Los Angeles Police, Facebook, Metro Locations: Hawaii, New York City, Los Angeles, Los Angeles County, New York, Maui, Grove, Crypto.com, ”

The latest:Trump wants to impose 25 percent tariffs on Canada and Mexico “on ALL products coming into the United States,” he said on Truth Social. He also wants an “additional” 10 percent tariff on imports from China, which Trump blames for the fentanyl crisis, a charge that Beijing has repeatedly disputed. Europe, Japan and South Korea weren’t even mentioned in Trump’s announcement, but stocks have fallen there, too. That suggests rising fears that a new trade war could scramble global supply chains and dent profits. Automakers are some of the hardest hit stocks, with Volkswagen, Stellantis and Nissan, which run manufacturing operations in Mexico, all down.

Persons: Donald Trump’s, Trump, ”, South Korea weren’t, Scott Bessent, it’s Trump, Robert Lighthizer, Bill Ackman, ” Mohit Kumar Organizations: Trump, Investors, United States ’, —, Truth, Canadian, Volkswagen, Nissan, Treasury Department, Trade Representative, Jefferies Locations: — Canada, China, Mexico, Canada, United States, Beijing, Europe, Japan, South Korea, America

☆ The Fed's favorite inflation gauge is out Wednesday. It could show some bad news on prices
▼ + stars: | 2024-11-26 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

At a time when most Federal Reserve officials see lower interest rates head, a key report on Wednesday is expected to show inflation drifting further away from target. The Commerce Department will release the October look at its personal consumption expenditures price index, the Fed's primary yardstick to measure the pace of price increases. "Recent data show progress on inflation has slowed," Brett Ryan, senior U.S. economist at Deutsche Bank, said in a note. "Recent wage data shows gains remain elevated and suggests core inflation is unlikely to cool near the Fed's 2% target," BlackRock experts said Monday in their weekly market note. "Markets have been pricing out Fed rate cuts — and moving closer to our view — as it becomes clearer that inflation pressures could prove persistent."

Persons: Dow Jones, What's, Donald Trump's, Brett Ryan Organizations: Federal, Commerce Department, Deutsche Bank, BlackRock

☆ Claims that fight between Jake Paul and Mike Tyson was rigged are ‘incorrect and baseless,’ says promoter
▼ + stars: | 2024-11-26 | by ( Jamie Barton | ) edition.cnn.com time to read: +3 min

CNN —Claims that the recent record-breaking boxing match between Jake Paul and Mike Tyson was rigged are “incorrect and baseless … illogical and inane,” the fight’s promoter said in a statement Monday. Jake Paul takes on Mike Tyson in the most-streamed global sporting event ever. Al Bello/Getty Images for NetflixHowever, the fight drew criticism from across social media and the boxing world. “Everyone is talking about how staged this fight was,” said De La Hoya, who is now a promoter, on Instagram. It goes on the record, and it was sanctioned, so Jake Paul paid to get the W on his record.

Persons: Jake Paul, Mike Tyson, Paul, Tyson –, ”, Al Bello, Hall, Hall of Famer Oscar De La, De, De La Hoya, “, Tyson, ” Nakisa Bidarian, ” Bidarian Organizations: CNN, Texas Department, Paul, Netflix, T, ESPN, ESPN BET, Hall of Famer, Hall of Famer Oscar De La Hoya Locations: Arlington , Texas, Las Vegas, De La, Instagram

☆ Scott Bessent Helped ‘Break’ the Bank of England. Now He’ll Run the U.S. Treasury.
▼ + stars: | 2024-11-26 | by ( Maureen Farrell | ) www.nytimes.com time to read: +1 min

Three decades before he was tapped to lead the Treasury Department, Scott Bessent was asked to help break another country’s financial system. Then 29 years old, Mr. Bessent, working for the financier George Soros, helped “break” the Bank of England with crushing trades against the British pound. He was on a small team at Mr. Soros’s investment firm that, in 1992, amassed a $10 billion bet that the pound was overvalued. Mr. Soros’s fund earned more than $1 billion, along with credit (and infamy) for orchestrating one of Wall Street’s most audacious trades. When President-elect Donald J. Trump announced his selection of Mr. Bessent as Treasury secretary last week, there was no mention of the connection to Mr. Soros.

Persons: Scott Bessent, Bessent, George Soros, Donald J, Trump, Soros Organizations: Treasury Department, Bank of England, Mr Locations: British

☆ A TikTok influencer was arrested after police say she flaunted stolen goods to her 360,000 followers
▼ + stars: | 2024-11-26 | by ( Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +2 min

AdvertisementA TikTok influencer was arrested after an incident involving the theft of $500 of goods from Target. Police say they identified Marlena Velez, who has 360,000+ TikTok followers, through a video she posted. AdvertisementAccording to a news release, the Cape Coral Police Department in Florida responded to a report last Wednesday about a theft at a Target store in Cape Coral that occurred on October 30. AdvertisementThe Cape Coral Police Department shared photographs of the woman on social media to help identify her. According to the press statement, an anonymous tip received in response to the photos provided officers with information on 22-year-old social media influencer Marlena Velez and directed them to her Instagram handle.

Persons: influencer, Marlena Velez, Velez, Mercedes Phillips, Phillips, Marlena Valez Organizations: Target . Police, Target . Authorities, Cape Coral Police Department, Police, Coral Police Department, Business, Sheriff's Locations: Target, Florida, Cape Coral, Lee

☆ Intel awarded $7.9 billion from the CHIPS Act ahead of Trump's second term
▼ + stars: | 2024-11-26 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

The US Department of Commerce announced the grant, part of the CHIPS Act, on Tuesday. President-elect Donald Trump has criticized the CHIPS Act in favor of tariffs. Intel is receiving about $7.9 billion in federal grants, the US Department of Commerce said Tuesday, as the Biden administration finalizes CHIPS Act agreements ahead of Donald Trump taking office. President-elect Trump has previously criticized the CHIPS Act and suggested he would prefer tariffs to incentivize semiconductor manufacturing on US soil. The CHIPS Act cash will help Intel boost its semiconductor production in the US.

Persons: Biden, Donald Trump, Joe Biden's, Trump, Gina Raimondo, Pat Gelsinger Organizations: Intel, US Department of Commerce, Department of Commerce, New York Times, Bloomberg, Street, Qualcomm Locations: Arizona , New Mexico , Ohio, Oregon

☆ Constellation Brands' stock falls as Trump tariff plan threatens to make Modelo and Corona more expensive
▼ + stars: | 2024-11-26 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Packages of Modelo Especial beer are displayed for sale in a grocery store on June 14, 2023 in Los Angeles, California. Shares of Constellation Brands fell 4% in morning trading after President-elect Donald Trump announced plans to place a 25% tariff on Mexican imports once he's inaugurated. Constellation imports all of its beer from Mexico, including Modelo and Corona. To offset the tariffs, Constellation would likely raise prices. Thanks to an antitrust settlement between Anheuser-Busch InBev , Grupo Modelo and the Department of Justice in 2013, AB InBev had to sell Modelo's U.S. business to Constellation.

Persons: Donald Trump, he's, Trump's, Chris Carey, Bud Light, Roth, Bill Kirk, Trump Organizations: Modelo Especial, Constellation Brands, Constellation, Modelo, Corona . Beer, Wells Fargo Securities, Anheuser, Busch InBev, Grupo Modelo, Department of Justice, InBev, General Motors Locations: Los Angeles , California, Mexico, Corona, Wells Fargo, U.S, Canada, China

Search resuls for: "Department"

25 mentions found