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☆ Exclusive: JPMorgan CEO says economy doing 'okay' but cites potential storm clouds
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: 1 min

[1/4] Jamie Dimon, Chairman of the Board and Chief Executive Officer of JPMorgan Chase & Co., gestures as he speaks during an interview with Reuters in Miami, Florida, U.S., February 8, 2023. REUTERS/Marco BelloMIAMI, Feb 8 (Reuters) - JPMorgan Chase & Co. (JPM.N) Chief Executive Jamie Dimon told Reuters on Wednesday that the U.S. economy remained in good shape, but warned "sticky" inflation could prompt the Federal Reserve to raise interest rates above 5%. Reporting by Lananh Nguyen; writing by Saeed Azhar, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

☆ New York attorney general calls for new sanctions against Donald Trump
▼ + stars: | 2023-01-31 | by ( Jonathan Stempel | ) www.reuters.com time to read: +3 min

NEW YORK, Jan 31 (Reuters) - New York's attorney general on Tuesday asked a judge to sanction former U.S. President Donald Trump, his adult children, the Trump Organization and their lawyers over their responses to her $250 million civil fraud lawsuit against them. Lawyers for the Trump defendants did not immediately respond to requests for comment. Former U.S. President Donald Trump, who announced a third run for the presidency in 2024, hosts a New Year's Eve party at his Mar-a-Lago resort in Palm Beach, Florida, U.S. December 31, 2022. James asked for sanctions on the same day new video from her office's Aug. 10 deposition of Donald Trump showed the former president repeatedly refusing to answer questions, citing his right against self-incrimination under the U.S. Constitution. "This is a vindictive and self-serving fishing expedition, the likes of which this country has perhaps never seen before," Trump said.

Trump said in New Hampshire that Stephen Stepanek, the state's Republican Party chairman, would join his campaign as a senior adviser. Both New Hampshire and South Carolina are seen as potential kingmakers, as they are among the first to hold their nominating contests. In South Carolina, where Trump will appear alongside Graham and Governor Henry McMaster, there will be a number of conspicuous absences. Among those not attending are the state party chairman, at least three Republican U.S. representatives from the state and South Carolina U.S. Reporting by Gram Slattery in Columbia, South Carolina and Ted Hesson in Washington; Editing by Ross Colvin and Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Trump will speak first at the New Hampshire Republican Party's annual meeting in Salem before heading to Columbia, South Carolina's capital, where he will unveil his leadership team in the state. In New Hampshire, Republican Governor Chris Sununu has said he is having conversations about a primary bid, and many high-ranking Republicans there - including those who supported Trump previously - say publicly they are looking for an alternative. In South Carolina, where Trump will appear alongside Governor Henry McMaster and Senator Lindsey Graham, there will be a number of conspicuous absences. Among those not attending are the state party chairman, at least three Republican U.S. representatives from the state and South Carolina U.S. Senator Tim Scott, who has himself been floated as a potential Republican presidential candidate.

☆ Luxury group LVMH's sales defy downturn as shoppers splurge
▼ + stars: | 2023-01-26 | by ( Mimosa Spencer | ) www.reuters.com time to read: +3 min

REUTERS/Marco BelloPARIS, Jan 26 (Reuters) - Luxury goods group LVMH's (LVMH.PA) sales rose 9% in the fourth quarter as shoppers in Europe and the United States splurged over the crucial holiday season, helping partly to offset COVID disruptions in China. Sales at the world's biggest luxury group reached 22.7 billion euros ($24.65 billion) in the final three months of the year, with the 9% increase on an organic basis a touch above analyst expectations for 7% growth, based on a consensus cited by UBS. LVMH has gained market share every year since 2019, its boss Bernard Arnault, the world's richest man, said. The group proposed a dividend of 12 euros per share, up from 10 euros a year ago. LVMH's shares have hit new highs this month, giving the luxury goods group a market capitalisation of 400 billion euros for the first time and cementing its lead as Europe's most valuable company.

☆ Chevron pledges $75 bln for share buybacks as cash grows
▼ + stars: | 2023-01-26 | by ( Sabrina Valle | ) www.reuters.com time to read: +2 min

Chevron on Friday is expected to report profits for 2022 doubled to $37.2 billion, according to estimates by Refinitiv. Those unprecedented earnings led analysts at Citi on Wednesday to ask if one of the two might buy BP (BP.L) , Shell (SHEL.L) or TotalEnergies (TTEF.PA) . Reuters Graphics Reuters GraphicsThe White House last year criticized oil producers for distributing cash to shareholders instead of investing in production to reduce energy prices for consumers. It also pressed oil producers to raise investments in renewable energy. The White House had no immediate comment on Chevron's buyback.

[1/2] The logo of FTX is seen at the entrance of the FTX Arena in Miami, Florida, U.S., November 12, 2022. REUTERS/Marco Bello/File PhotoZURICH/LONDON, Jan 26 (Reuters) - Financial watchdogs and government agencies from the United States, Japan and Switzerland are among creditors of bankrupt crypto exchange FTX, as well as companies including Airbnb and crypto giant Binance, a court filing has shown. A host of companies from traditional industries and the crypto sector, including Airbnb Inc (ABNB.O) and Binance, the world's largest crypto exchange and once an arch-rival of FTX, were also cited as creditors. FTX said last year it owed its 50 biggest creditors nearly $3.1 billion. FTX founder Sam Bankman-Fried, who has been accused of stealing billions of dollars from FTX customers to pay debts incurred by his crypto-focused hedge fund, has pleaded not guilty to fraud charges.

☆ Months After Hurricane Ian Hit Florida, Many in Fort Myers Are Living in Tents
▼ + stars: | 2023-01-24 | by ( Deborah Acosta | Photographs Marco Bello For The Wall Street Journal | ) www.wsj.com time to read: 1 min

People in Fort Myers, Fla., are scrambling to find a place to live after Hurricane Ian ravaged the area in September, compelling some residents to camp in places where their homes once stood. The storm made impact in southwest Florida, destroying 5,000 homes and severely damaging another 30,000, according to data firm CoStar Group Inc. The destruction forced many families that want to stay in the area to seek temporary accommodations. They are often competing with the construction workers who swarmed the area to help with restoration efforts.

☆ FTX says $415 million in crypto was hacked
▼ + stars: | 2023-01-17 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

[1/2] The logo of FTX is seen at the entrance of the FTX Arena in Miami, Florida, U.S., November 12, 2022. REUTERS/Marco BelloJan 17 (Reuters) - Bankrupt crypto exchange FTX said in a report to creditors on Tuesday that about $415 million in cryptocurrency had been stolen as a result of hacks. Some $323 million in crypto had been hacked from FTX's international exchange and $90 million had been hacked from its U.S. exchange since it filed for bankruptcy on Nov. 11, CEO John Ray said in a separate statement on Tuesday. FTX told a bankruptcy judge in Delaware last week that it had recovered over $5 billion in crypto, cash and liquid securities, nine weeks after declaring bankruptcy. The crypto assets recovered to date include $685 million in Solana, $529 million in FTX's proprietary FTT token and $268 million in bitcoin, based on crypto prices on Nov. 11, 2022.

[1/4] The logo of FTX is seen at the entrance of the FTX Arena in Miami, Florida, U.S., November 12, 2022. Companies facing wide-ranging investigations often hire pool counsel for employees. The use of pool counsel suggests that federal prosecutors in Manhattan probing FTX's collapse may be interested in questioning a deep roster of employees. The use of pool counsel enables a single legal team to gain expertise in the case, making it more efficient than having each employee retain individual lawyers, Krissoff said. The arrangement does not mean Covington is representing FTX, which has turned to Sullivan & Cromwell, another law firm.

☆ Crypto firms off to rocky start in 2023 with outflows, layoffs and a lawsuit
▼ + stars: | 2023-01-05 | by ( Hannah Lang | ) www.reuters.com time to read: +4 min

The fallout from the collapse of crypto exchange FTX and criminal charges leveled against its founder Sam Bankman-Fried weighed heavily on the sector this week. Among those hit were Genesis Global Capital, which laid off staff, and crypto-focused Silvergate Bank, which reported a large fall in deposits. Another crypto entrepreneur, Alex Mashinsky, the founder and former CEO of Celsius Network, also encountered a legal battle on Thursday. The accounts at Silvergate Bank and Farmington State Bank, which does business as Moonstone Bank, held about $143 million, court records showed. Crypto exchange Gemini, which had a crypto lending product in partnership with Genesis, and other Genesis creditors have been agitating for a solution to avoid a situation similar to FTX’s rapid descent into bankruptcy.

☆ Miami's mayor said the 'single hottest city in the world' will keep attracting tons of transplants in 2023
▼ + stars: | 2022-12-31 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +7 min

Miami Mayor Francis Suarez predicted people from all over the world would move to Miami in 2023. Suarez predicted Miami would effectively weather a recession. As the top executive for the city, Miami Mayor Francis Suarez has shepherded along much of the city's economic changes by encouraging tech and venture capital companies to plant offices downtown. Miami Mayor Francis Suarez, a Republican, predicted the Magic City would be able to weather a recession. As some analysts forecast a global recession hit in 2023, the mayor predicted Miami would be able to weather it.

☆ Republicans went after BlackRock and sustainable investing in 2022. Meet 12 officials crusading against 'woke capitalism.'
▼ + stars: | 2022-12-28 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +14 min

A group of vocal conservative officials are criticizing aspects of ESG investing. Players in the ESG ecosystem, like S&P Global and BlackRock, the world's largest money manager and an influential proponent of ESG investing, are often the subject of their critiques. Instead, officials often paint large financial firms' ESG strategies as functions of left-leaning agendas. Here are key GOP players who are taking aim at ESG investing. Abbott, who is seeking reelection in November, was early to denouncing ESG investing.

[1/2] The logo of FTX is seen at the entrance of the FTX Arena in Miami, Florida, U.S., November 12, 2022. FTX declared bankruptcy on Nov. 11, collapsing amid a wave of customer withdrawals. New York-based law firm Sullivan & Cromwell is representing FTX in its Chapter 11 case and guiding its efforts to return assets to customers. Court-approved billing rates for bankruptcy attorneys did not cross the $2,000-per-hour mark until earlier this year, when a U.S. bankruptcy judge approved a $2,035-per-hour fee in the bankruptcy of cosmetics giant Revlon. Before FTX's bankruptcy, Sullivan & Cromwell represented the company in U.S. regulatory inquiries and on potential acquisitions, including its proposed acquisition of bankrupt crypto lender Voyager Digital.

Bankman-Fried left the courthouse, surrounded by guards with assault weapons, and entered a vehicle, according to Reuters Video. The Ministry of Foreign Affairs in The Bahamas said in a statement that the foreign minister had signed off on allowing Bankman-Fried's extradition to the United States. Bankman-Fried was arrested on a U.S. extradition request last week in The Bahamas, where he lives and where FTX is based. [1/10] Sam Bankman-Fried, the founder and former CEO of crypto currency exchange FTX, is escorted out of the Magistrate Court building in Nassau, Bahamas December 21, 2022. This rule, which is in The Bahamas’ extradition treaty with the United States, says a person can be tried only on the charges for which they are extradited.

Bankman-Fried left the courthouse, surrounded by guards with assault weapons, and entered a vehicle, according to Reuters Video. Bankman-Fried was arrested on a U.S. extradition request last week in The Bahamas, where he lives and where FTX is based. [1/10] Sam Bankman-Fried, the founder and former CEO of crypto currency exchange FTX, is escorted out of the Magistrate Court building in Nassau, Bahamas December 21, 2022. This rule, which is in The Bahamas’ extradition treaty with the United States, says a person can be tried only on the charges for which they are extradited. Bankman-Fried has acknowledged risk-management failures at FTX, but has said he does not believe he has criminal liability.

It paves the way for the founder of the FTX cryptocurrency exchange to be flown to the United States as early as Wednesday afternoon. Bankman-Fried was arrested on a U.S. extradition request last week in The Bahamas, where he lives and where FTX is based. [1/8] Sam Bankman-Fried, the founder and former CEO of crypto currency exchange FTX, is escorted into the Magistrate Court building in Nassau, Bahamas December 21, 2022. This rule, which is in The Bahamas’ extradition treaty with the United States, says a person can be tried only on the charges for which they are extradited. Bankman-Fried has acknowledged risk-management failures at FTX, but has said he does not believe he has criminal liability.

NASSAU, Dec 21 (Reuters) - Sam Bankman-Fried left a Bahamas correctional facility and arrived in court on Wednesday morning, a source said, a day after the founder of the FTX cryptocurrency exchange signed papers paving the way for his extradition to the United States, where he faces fraud charges. Bankman-Fried is expected to sign additional papers in court finalizing his waiver of rights to fight extradition, another person close to the matter told Reuters. Bankman-Fried was arrested on a U.S. extradition request last week in The Bahamas, where he lives and where FTX is based. [1/6] Sam Bankman-Fried, founder and former CEO of crypto currency exchange FTX, leaves the Magistrate Court building in Nassau, Bahamas December 19, 2022. Wednesday's hearing will follow a confusing sequence of events this week that left the status of Bankman-Fried's expected extradition unclear.

NASSAU, Dec 21 (Reuters) - Proceedings are set to resume on Wednesday in Sam Bankman-Fried's Bahamas court case, after the founder of the FTX cryptocurrency exchange signed papers paving the way for his extradition to the United States, where he faces fraud charges. Bankman-Fried was arrested on a U.S. extradition request last week in The Bahamas, where he lives and where FTX is based. He initially said he would contest extradition, but Reuters and other outlets reported over the weekend that he would reverse that decision. Wednesday's hearing will follow a confusing sequence of events this week that left the status of Bankman-Fried's expected extradition unclear. [1/6] Sam Bankman-Fried, founder and former CEO of crypto currency exchange FTX, leaves the Magistrate Court building in Nassau, Bahamas December 19, 2022.

A hearing in Bankman-Fried's case will take place on Wednesday at 11 a.m. EST (1600 GMT), a court official told Reuters. Wednesday's proceeding could set the stage for the 30-year-old cryptocurrency mogul to depart the Caribbean nation, after several days of confusion about the status of Bankman-Fried's extradition. A person familiar with the matter said Bankman-Fried intends to consent to extradition. He initially told a Bahamas court he would contest extradition, but Reuters and other outlets reported over the weekend that he would reverse his decision. [1/2] The Founder and former CEO of crypto currency exchange FTX Sam Bankman-Fried leaves the Magistrate Court building in Nassau, Bahamas December 19, 2022.

☆ FTX'S Bankman-Fried's lawyer departs courthouse in Bahamas - Reuters witness
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: 1 min

[1/2] Jerone Roberts, lawyer of founder and former CEO of crypto currency exchange FTX Sam Bankman-Fried, leaves the Magistrate Court building in Nassau, Bahamas December 20, 2022. REUTERS/Marco BelloDec 20 (Reuters) - A lawyer for Sam Bankman-Fried departed a court in the Bahamas on Tuesday and the founder of the failed FTX crypto exchange was not seen at the court, according to a Reuters witness, after a source said Bankman-Fried was prepared to return to the United States to face fraud charges. (This story has been refiled to fix the spelling of 'lawyer' in the first paragraph)Reporting by Tom Hals in Wilmington, DelawareOur Standards: The Thomson Reuters Trust Principles.

☆ Bankman-Fried hearing to resume on Wednesday as extradition decision looms
▼ + stars: | 2022-12-20 | by ( Maria Alejandra Cardona | Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | ) www.reuters.com time to read: +3 min

[1/2] The Founder and former CEO of crypto currency exchange FTX Sam Bankman-Fried leaves the Magistrate Court building in Nassau, Bahamas December 19, 2022. Tuesday's events mark the latest episode in what has become a confusing, back-and-forth saga over Bankman-Fried's extradition. Last week, he initially told a Bahamas court he would contest extradition, but Reuters and other outlets reported over the weekend that he would reverse his decision. During a court hearing on Monday at which Bankman-Fried appeared, Roberts said he had not been informed of the purpose of the proceeding. The person familiar with the matter told Reuters after Monday's hearing that Bankman-Fried would indeed consent to extradition.

☆ FTX's Bankman-Fried, facing extradition, due back in Bahamas court
▼ + stars: | 2022-12-20 | by ( Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | Thomson Reuters Institute | ) www.reuters.com time to read: +3 min

[1/2] The Founder and former CEO of crypto currency exchange FTX Sam Bankman-Fried leaves the Magistrate Court building in Nassau, Bahamas December 19, 2022. It was not immediately clear if Bankman-Fried had arrived at the court in Nassau. On Monday, Bankman-Fried appeared in court in capital Nassau after Reuters and other outlets reported over the weekend that he had decided to agree to extradition. But during the tumultuous hearing, a Bahamas lawyer for Bankman-Fried, Jerone Roberts, said his client was not yet ready to consent. Upon arrival in the United States, Bankman-Fried would enter a plea in federal court within a day or two.

☆ FTX's Bankman-Fried, facing extradition, to appear in Bahamas court -source
▼ + stars: | 2022-12-20 | by ( Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | Thomson Reuters Institute | ) www.reuters.com time to read: +3 min

[1/2] The Founder and former CEO of crypto currency exchange FTX Sam Bankman-Fried leaves the Magistrate Court building in Nassau, Bahamas December 19, 2022. On Monday, Bankman-Fried appeared in court in capital Nassau after Reuters and other outlets reported over the weekend that he had decided to agree to extradition. But during the tumultuous hearing, a Bahamas lawyer for Bankman-Fried, Jerone Roberts, said his client was not yet ready to consent. Roberts said Bankman-Fried had seen an affidavit outlining the U.S. charges against him, but that he wanted to see the full indictment, which was unsealed in Manhattan federal court on Dec. 12. Upon arrival in the United States, Bankman-Fried would enter a plea in federal court within a day or two.

It was not immediately clear when Bankman-Fried would depart the Bahamas, where he was arrested on Dec. 12 per a U.S. extradition request. At the hearing, his local criminal defense attorney, Jerone Roberts, told Serville initially that he did not know why Bankman-Fried was brought to court on Monday morning. Serville said at the hearing that he could not take any action on Bankman-Fried's extradition without the former billionaire's consent. [1/9] The Founder and former CEO of crypto currency exchange FTX Sam Bankman-Fried leaves the Magistrate Court building in Nassau, Bahamas December 19, 2022. At one point during the hearing, Bankman-Fried leaned back with his eyes closed and appeared to be awakened by a court official.

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