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"Twitter Blue is a mess. Within the next 48 hours, all but 110 of the most-followed Twitter accounts suddenly had verification through Twitter Blue, indicating Twitter likely gifted the check marks, independent researcher Travis Brown told Reuters. GRADUAL PULLBACKSince the initial rollout of the Twitter Blue service in November, imposter tweets have spread harmful misinformation. Imposter Twitter accounts also tarnished the online reputations of Lockheed Martin Corp(LMT.N) and Nintendo Co Ltd(7974.T). "The volume of imposter accounts seems to depend on several things -- Is the client doing a high profile event that week?

☆ UK govt says country's banking system safe and sound, after First Republic collapse
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: 1 min

LONDON, May 1 (Reuters) - Britain's finance ministry said on Monday that the country's banking system remained safe, sound and well capitalised, after First Republic Bank (FRC.N) became the third major U.S. bank to fail in two months. "As the independent Bank of England has confirmed, the UK banking system remains safe, sound and well capitalised," a spokesperson for the Treasury said via e-mail. The spokesperson also said First Republic was "a matter for U.S. authorities". Reporting by Muvija M; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ Wall Street predicted a big surge for oil this year. But prices are now lower
▼ + stars: | 2023-04-28 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +7 min

Oil prices were rattled by the collapse of several U.S. and European lenders earlier this spring, which discouraged volatility-adverse investors from historically riskier assets, such as commodities. Beijing, the world's largest importer of crude oil, reined in its purchases last year amid drastic "zero-Covid" restrictions that depressed transport fuel requirements. Kpler data indicates that China's imports of Russian crude oil averaged 1.59 million barrels per day in March, up 68% from the same period in 2022. The latest cuts already spell a tight supply-demand balance that could hit households, the International Energy Agency warned in its latest monthly Oil Market Report. "Our oil market balances were already set to tighten in the second half of 2023, with the potential for a substantial supply deficit to emerge.

☆ Universal Music reiterates AI concerns as quarterly profit slumps
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

April 26 (Reuters) - Universal Music Group (UMG.AS), the label representing Drake and Taylor Swift, on Wednesday posted a slump in first-quarter core profit due to compensation expenses, and reiterated concerns over AI-made music. Core profit, or earnings before interest, taxes, depreciation and amortisation (EBITDA), slumped 43.4% in constant currency to 261 million euros ($288.04 million), due to non-cash, share-based compensation expenses, part of an equity compensation plan announced last year. Excluding these expenses, adjusted EBITDA was 522 million euros, up 13.0% on the same basis, and beating a consensus cited by Credit Suisse which had expected 513 million euros. UMG's CEO, Lucian Grainge, has come under shareholder pressure over an "excessive" $100 million pay deal, The Financial Times reported on Wednesday. Labels now face challenges like slowing global revenue growth in recorded music, particularly in established markets like the U.S, while the emergence of AI-generated music adds to their concerns, as many laws do not currently deem the replication of artists' voices as strictly illegal.

☆ With Russia's role in the global energy system falling, a select few nations are set to benefit
▼ + stars: | 2023-04-26 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Russia's role as a global energy player is set to diminish, and the U.S. and Qatar are among a slew of nations ready to fill its shoes, analysts told CNBC. "Russia's global LNG supply share will almost certainly decline this decade," Henning Gloystein, a director for energy, climate, and natural resources at political consultancy Eurasia Group told CNBC. He noted that its role in the liquefied natural gas space was retreating even before the country's invasion of Ukraine last year. Western sanctions, which resulted from the onslaught of its neighbor, further sapped most foreign investment out of Russia's LNG sector. He added that the total capacity for Russia's LNG facilities to produce natural gas will remain flat at 37 million tons over the next few years.

☆ SpaceX Starship explosion ignited 3.5-acre fire and sent debris thousands of feet, U.S. Fish and Wildlife Service says
▼ + stars: | 2023-04-26 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

Debris litters the ground on April 22, 2023, after the SpaceX Starship liftedoff on April 20 for a flight test from Starbase in Boca Chica, Texas. Fish and Wildlife Service disclosed new details on Wednesday about the aftermath of last week's SpaceX Starship Super Heavy launch and mid-air explosion, including that a "3.5-acre fire started south of the pad site on Boca Chica State Park land," following the test flight. In the agency's e-mailed statement, a spokesperson for the Fish and Wildlife Service said that following the launch and mid-air explosion, "Cameron County closed Boca Chica Beach and State Highway 4 for 48 hours due to launch pad safety concerns." The road closures prevented FWS staff from "accessing refuge-owned and managed land" until mid-morning on April 22, the agency confirmed. Elon Musk's defense contractor designed its Starship Super Heavy with the ambition of taking people and supplies on a Mars mission one day.

☆ Sweden launches research rocket, accidentally hits Norway
▼ + stars: | 2023-04-25 | by ( ) www.reuters.com time to read: +2 min

STOCKHOLM, April 25 (Reuters) - A research rocket launched by Sweden Space Corp (SSC) early on Monday from Esrange Space Center in northern Sweden malfunctioned and landed 15 km (9.32 miles) inside neighbouring Norway. There are routines in place when things go wrong and we inform both Swedish and Norwegian governments, and other actors, he said. In the event of any border violation, those responsible should immediately inform the relevant Norwegian authorities, which included the foreign ministry, through the right channels, the spokesperson said. The ministry had not received a formal notification of the incident from the Swedish authorities, she added. The Norwegian foreign ministry said it was not aware of whether there was any damage to the surroundings, while a SSC spokesperson said the rocket came down far from any settlement.

☆ The bad loan term that's back for banks trying to spot a recession
▼ + stars: | 2023-04-23 | by ( Tim Mullaney | ) www.cnbc.com time to read: +4 min

If there wasn't enough banking jargon to blind you, it's time to learn a new piece of it: Welcome to the industry's era of the "criticized loan." "Criticized loans could be paying or performing but a loan could be singled out because of its collateral." At Bank of America, criticized loans to office building projects rose to $3.7 billion out of $19 billion in office loans. But office buildings represent only a quarter of the bank's commercial real estate loans, and all CRE is just 7% of the bank's total loans and leases. "It's almost impossible for us to see office [losses] more than 4 or 5 percent of office loans.

A Reuters review of testimony, previously unreported public documents and interviews with elected leaders, lobbyists and attorneys detail mounting challenges to many pending anti-ESG bills. The tussles have financial implications for some of the largest investment firms that manage billions of dollars for state pension plans. Lauren Doroghazi, senior vice president at government relations consultant MultiState Associates, said the debates show lawmakers coming to terms with the anti-ESG bills' practical impact. Several public pension systems raised concerns about it, including the largest, the $182 billion Texas Teacher Retirement System (TRS). For instance, if federally-regulated local banks faced new national rules on an issue like climate change disclosures, banks would need special permissions from local officials to keep public business in Utah he said.

☆ Better than feared first quarter earnings results will power the stock market to new highs, Fundstrat says
▼ + stars: | 2023-04-21 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Better than feared earnings results will power the stock market's ongoing rally, according to Fundstrat's Tom Lee. "We think demand and margins holding up better will support a rally in technology stocks," Lee said. And the absolute earnings results aren't all that bad so far, with first-quarter earnings per share tracking to be down just 1.2% year-over-year on sales growth of 7.3%, according to Fundstrat. "We think demand and margins holding up better will support a rally in technology stocks... Technology could be the winner of results season." BMO chief investment officer Carol Schleif said in an e-mail to Insider that there have been "no major red flags" in earnings results.

☆ Virgin Orbit exec calls out leadership after bankruptcy in scathing e-mail
▼ + stars: | 2023-04-04 | 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 EmailVirgin Orbit exec calls out leadership after bankruptcy in scathing e-mailHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. CNBC's Michael Sheetz joins the show to discuss trouble at Virgin Orbit.

☆ Exclusive: India regulator probing some Adani offshore deals for possible rule violations-sources
▼ + stars: | 2023-04-01 | by ( Jayshree P Upadhyay | ) www.reuters.com time to read: +4 min

An Adani Group spokesperson said Vinod Adani is a member of the Adani family and is part of the promoter group, but he does not hold any managerial position in any of the listed Adani entities or their subsidiaries. Vinod Adani could not be reached for comment. Hindenburg's report eroded more than $100 billion in the value of shares in Adani group of companies. India's Supreme Court asked SEBI in March to investigate the Adani Group for any lapses related to public shareholding, related party rules or regulatory disclosures. SEBI's investigation into Adani's possible 'related party' transactions with offshore entities with links to Vinod Adani has not been reported before.

☆ Exclusive: India's LIC plans investment exposure caps post Adani share rout
▼ + stars: | 2023-03-24 | by ( Nikunj Ohri | ) www.reuters.com time to read: +3 min

After the Adani group lost over $100 billion in valuation post scathing allegations by U.S.-based Hindenburg Research, state-run LIC was criticized for having over $4 billion exposure to companies from the group. "LIC is looking to have 'boundary conditions' on its investments that would limit its exposure to scrips," said the source. The caps, once approved by the LIC board, would further limit the insurer's exposure. The move is aimed at strengthening investment strategies, and fence LIC from public criticism of its investment decisions or exposure to entities like the Adani group, the second source said. LIC had invested 301.2 billion rupees in shares of Adani group companies, and has a debt exposure of 61.82 billion rupees.

WASHINGTON, March 24 (Reuters) - Former U.S. President Donald Trump warned of potential "death & destruction" if he faces criminal charges, hours after New York prosecutors probing his hush-money payment to porn star Stormy Daniels said they would not be intimidated. for the Republican Party nomination, with a Crime, when it is known by all that NO Crime has been committed, & also known that potential death & destruction in such a false charge could be catastrophic for our Country?" Trump has denied ever having an affair with Daniels, and has called the payment a "simple private transaction." He has said he did not commit a crime and has called the investigation politically motivated. The Manhattan grand jury probing Trump is not due to reconvene until next week.

WASHINGTON, March 22 (Reuters) - U.S. President Joe Biden's team is leaning toward basing his 2024 re-election campaign in his hometown of Wilmington, Delaware, and is considering at least three people to serve as his campaign manager, Democratic sources familiar with the matters said. Philadelphia, home to Biden's 2020 campaign operations, has also been under consideration, the sources said. The president is considering at least three people for the role of campaign manager, according to Democratic sources familiar with the deliberations. Jen O'Malley Dillon, who served as Biden's campaign manager in 2020, has ruled out returning to the role in 2024, two sources said. Now deputy chief of staff at the White House, she will be influential in selecting who takes the reins for the 2024 race, one source said.

☆ Engine Capital urges Parkland to consider sale, spinoff of non-core assets
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

March 22 (Reuters) - Activist investor Engine Capital on Wednesday urged fuel marketer Parkland Corp (PKI.TO) to look at strategic alternatives including the sale or spinoff of non-core assets to become a more focused fuel and convenience retailer. Parkland has accumulated a range of assets that are not typically owned by pure-play fuel and convenience operators, said Engine Capital. Engine added it was "particularly troubled by Parkland's staggering underperformance" compared with Canadian convenience retailer Alimentation Couche-Tard (ATD.TO). "The letter has been circulated by management to the board of the company for its review and consideration," Parkland said in an e-mailed statement. Engine also urged the company to improve its compensation framework to better align management's incentives with shareholder interests.

☆ One country, two crypto systems: Hong Kong harbors crypto hub ambitions despite China's crackdown
▼ + stars: | 2023-03-20 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +5 min

Sopa Images | Lightrocket | Getty ImagesThe crypto industry has had a rough year with digital currency markets crashing and companies collapsing across the board. Hong Kong is planning to introduce new rules in June that will require crypto trading platforms to be licensed by the Securities and Futures Commission. Bitcoin ATMs, operated by Coinhero, in Hong Kong, China, on Wednesday, Dec. 21, 2022. While Hong Kong harbors high crypto ambitions and boasts relatively lower tax policy on businesses, the city could still potentially find competition with other crypto hubs. The logo of Bitcoin cryptocurrency at a store in Hong Kong on Thursday, Feb. 10, 2022.

Google (GOOGL), which for years ranked as the top company to work for in the United States, laid off thousands of workers by e-mail. During her early years there, she worked in marketing and became known as the “The Bard of Google” for the internal emails she sent celebrating the company’s culture. Google employee affected by January layoffs“The problem was, suddenly, you didn’t work for a company that was sending stuff to space or building autonomous cars,” Rout said. Hundreds of Google employees in Switzerland staged a walkout last week to protest layoffs, partly out of frustration with the lack of transparency. About a month before the January layoffs, one former employee said Google painted “You Belong” on one of the walls in their working area.

Florida Governor Ron DeSantis hasn’t announced a presidential bid yet, but that hasn’t stopped him from receiving his first congressional endorsement. The endorsement comes weeks after Roy, among others, attended a Florida donor confab held for DeSantis. The focus of that event was how to replicate DeSantis’ Florida wins nationwide—but the clear subtext was the looming presidential race and the expectation that DeSantis could parlay his consistently high polling position into an official presidential run. (DeSantis himself was a founding member of the Freedom Caucus when he served in the House.) South Carolina Rep. Ralph Norman, another HFC member, threw his support behind former South Carolina Gov.

☆ Takeaways from America’s second-largest bank failure
▼ + stars: | 2023-03-11 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +7 min

New York CNN —Silicon Valley Bank’s 48-hour collapse led to the second-largest failure of a financial institution in US history. Its stunning, and seemingly rapid, fall is the largest shutdown of a US bank since Washington Mutual in 2008. “That’s because its depositors were withdrawing their money so fast that the bank was insolvent, and an intraday closure was unavoidable due to a classic bank run.”High interest rates led to its demiseTo combat rampant inflation, the central bank has been aggressively raising interest rates since 2022. When interest rates were near historical lows, the banks bought up on long-dated, seemingly low-risk Treasuries. Faced with these higher interest rates, loss of IPOs and a funding drought, SVB’s clients began pulling money out of the bank.

☆ Coinbase customer who lost $96,000 in a crypto hack has sued the exchange after getting the brush-off
▼ + stars: | 2023-03-08 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +4 min

A Coinbase user is suing the exchange to recover 90% of his life savings that he says was stolen from him, lawsuit claims. But the exchange ignored several red flags for fraud, he alleges in his claim for triple damages. "Coinbase's email disclaimed any responsibility for the hacking of its customers' accounts," the filing read. It's not the first time Coinbase has seen complaints from customers who lost money on their accounts in a SIM swap scam. Coinbase also encourages customers to take measures to secure their personal accounts and information outside of Coinbase," the company said in a statement to Insider.

Finance Minister Ishaq Dar had said last week that the external financing assurance was not one of the IMF's conditions for clearance of the funding. Pakistan has completed almost all other measures needed except for the external financing requirement, officials say. Dar said last week that Pakistan will need $5 billion external financing to close its financing gap this fiscal year ending June 30, adding the IMF believed it should be $7 billion. Dar said hoped more external financing will be coming as Pakistan signs the IMF deal this week. Ruiz noted that the difference in foreign exchange rates between the open and informal markets has been very damaging for Pakistan, resulting in shortages of foreign exchange and consequently imported goods.

☆ Why GoodRx is emailing customers about sharing their health information
▼ + stars: | 2023-03-02 | by ( Jennifer Korn | ) edition.cnn.com time to read: +2 min

New York CNN —GoodRx customers who typically receive emails about prescription drug deals and refill reminders from the company saw something very different in their inboxes this week. GoodRX sent a notice to users detailing allegations from the Federal Trade Commission that the company shared sensitive health data with third parties for advertising purposes without customers’ permission. “This information included details about drug and health conditions people searched and their prescription medications,” the company wrote in the notice e-mailed to customers and posted on its website. In some cases, GoodRx used the information to target people with health-related ads.”The alert comes a month after the FTC announced a formal settlement with the digital health platform and issued a “first-of-its-kind proposed order” prohibiting the company from sharing health data from its customers with other companies for advertising. Users took to social media to voice concern about the e-mail, with some wondering how much money the firm might have made from their health data and others swearing off using the service.

☆ Fact Check-Ohio NDW rail track was repaired in 2020
▼ + stars: | 2023-02-28 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

A 2017 video showing a train moving along a rickety track has been widely shared as the current state of rail infrastructure in Ohio. A spokesperson for the Ohio Rail Development Commission told Reuters that the tracks, which are part of the NDW line in Ohio, have since been “improved”. A spokesperson for the Ohio Rail Development Commission in an e-mail said: “The rail on the old video clip was improved as part of the 2020 Consolidated Rail Infrastructure and Safety Improvements (CRISI) project completed last year. The Ohio Rail Development Commission in 2021 approved a grant of up to $687,622.50 to replace the rail on a portion of the Napoleon Defiance and Western Railways (NDW) (here). The Ohio railway track in the video is from 2017 and has since been repaired.

☆ Elon Musk-led Twitter has been sued by at least six companies for failing to pay bills
▼ + stars: | 2023-02-24 | by ( Lora Kolodny | ) www.cnbc.com time to read: +2 min

Elon Musk's Twitter was sued again in California this week for alleged failure to pay a vendor. The Tesla and SpaceX CEO led a $44 billion buyout of Twitter, which closed around October 27, 2022. According to a Platformer report on Thursday, Twitter suddenly cut off employees' access to Slack this week after failing to pay a bill. In the newest complaint, filed in California Superior Court in San Francisco, Writer says that Twitter failed to pay a bill for the relatively humble amount of $113,856. This week, he wrote on Twitter, "Say what you want about me, but I acquired the world's largest non-profit for $44B lol."

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