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☆ Eric Adams Says ‘We Don’t Do Quid Pro Quo’ for Contributions
▼ + stars: | 2023-11-14 | by ( James Fanelli | Jimmy Vielkind | ) www.wsj.com time to read: 1 min

Eric Adams’s electronic devices were seized last week by federal investigators. Photo: angela weiss/Agence France-Presse/Getty ImagesNew York City Mayor Eric Adams said he and his aides haven’t exchanged political favors for campaign contributions, offering a broad defense of his conduct in office amid a federal public-corruption probe. Adams, a former police captain, during a press conference Tuesday sought to shift focus from the investigation, in which federal officials are examining whether Turkish money illegally went to the Democrat’s 2021 campaign, people familiar with the matter said.

Persons: Eric, angela weiss, Eric Adams, haven’t, Adams Organizations: Agence France, York City Locations: York

☆ Nepal Bans TikTok, Saying It Disturbs ‘Social Harmony’
▼ + stars: | 2023-11-14 | by ( Shan Li | Krishna Pokharel | ) www.wsj.com time to read: 1 min

Nepal’s government said last week it would require social-media companies to set up liaison offices in the country. Photo: prakash mathema/Agence France-Presse/Getty ImagesNEW DELHI—Nepal is banning TikTok over concerns that the video platform is “disturbing social harmony,” joining a growing list of countries that have partially or completely banned the popular Chinese-owned app. Nepal’s cabinet, led by Prime Minister Pushpa Kamal Dahal , decided to ban TikTok on Monday, said Rekha Sharma , the minister of communication and information technology.

Persons: prakash mathema, ”, Pushpa Kamal Dahal, Rekha Sharma Organizations: Agence France Locations: DELHI, Nepal

☆ ‘What the Hell Is Going On at the FDIC?’ Lawmakers Grill Agency Chairman
▼ + stars: | 2023-11-14 | by ( Rebecca Ballhaus | ) www.wsj.com time to read: 1 min

FDIC Chairman Martin Gruenberg appeared Tuesday at a previously scheduled Senate hearing. Photo: stefani Reynolds/Agence France-Presse/Getty ImagesSenators on Tuesday questioned Federal Deposit Insurance Corp. Chairman Martin Gruenberg over the agency’s handling of allegations of harassment and discrimination revealed by a Wall Street Journal investigation. “What the hell is going on at the FDIC?” asked Sen. John Kennedy (R., La.

Persons: Martin Gruenberg, stefani Reynolds, ”, Sen, John Kennedy Organizations: Agence France, Getty, Insurance Corp, Wall Street

China detained the executive, named in several media reports as Hiroshi Nishiyama, on suspicion of espionage in March, and he was formally arrested last month. Japan's then foreign minister protested the executive's detention with his Chinese counterpart on a visit to Beijing in April. China's foreign ministry did not immediately respond to a request for comment. Half the respondents in a recent survey of Japanese companies doing business in China said they would cut investments this year. It's a very difficult point in time to be navigating that as a decision maker, in business or politics," he said.

Persons: Fumio Kishida, Xi Jinping, Rahm Emanuel, Hiroshi Nishiyama, Japan's, Xi, Masashi Mizobuchi, Nishiyama, Takeshi Niinami, Niinami, Stefan Angrick, Yukiko Toyoda, Kiyoshi Takenaka, John Geddie, Sakura Murakami, Francis Tang, Laurie Chen, Antoni Slodkowski, Andrew Silver, Lincoln Organizations: Economic Cooperation, Kyodo, drugmaker Astellas Pharma, APEC, Reuters, Japanese Chamber of Commerce, Japan Association of Corporate, Suntory, Moody's Analytics, Thomson Locations: Asia, Bangkok, Thailand, TOKYO, BEIJING, China, San Francisco, Tokyo, U.S, Japan, Beijing, officialdom, Shanghai

☆ FTX Sues Crypto Exchange Bybit to Recover $953 Million in Cash and Assets
▼ + stars: | 2023-11-14 | by ( Becky Yerak | ) www.wsj.com time to read: 1 min

Bybit operates one of the world’s largest cryptocurrency trading exchanges. Photo: karim sahib/Agence France-Presse/Getty ImagesBankrupt cryptocurrency exchange FTX has filed a lawsuit against Bybit Fintech and two affiliates to try to claw back assets valued at $953 million that were withdrawn shortly before FTX’s November 2022 collapse. The lawsuit, filed Friday in the U.S. Bankruptcy Court in Wilmington, Del., alleges that Bybit’s investment arm, Mirana, “leveraged its VIP connections to pressure FTX group employees to fulfill its withdrawal requests as soon as assets became available.”

Persons: Bybit, karim sahib, FTX, Bybit Fintech Organizations: Agence France, Getty, Bankruptcy Locations: U.S, Wilmington, Del

☆ Israel-Hamas War Biden Says Gaza Hospitals Must be Protected
▼ + stars: | 2023-11-14 | by ( Lisa Friedman | ) www.nytimes.com time to read: +7 min

The Israeli military did not address specific questions about its actions around the hospital. Credit... Khader Al Zanoun/Agence France-Presse — Getty ImagesIsraeli officials say Hamas uses hospitals in Gaza, including Al-Shifa, as shields for its fighters, including using vast tunnel networks beneath the hospitals. Israeli troops have reached at least two other hospitals in northern Gaza, stepping up their push to empty the facilities, according to Israeli military officials, as fighting around them intensifies. Image People in tent shelters on the grounds of Al-Shifa hospital this month. The Israeli military did not respond to a request for comment about accusations that it was firing on people trying to leave the hospital.

Persons: Shifa, Jihan, Khader Al Zanoun, “, ” Dr, Nasser Bolbol, Medhat Abbas, ”, Miqdad, Abbas, Dawood Nemer, Bolbol, Israel, Dr, “ I’m, Raja Abdulrahim Organizations: Human Rights, World Health Organization, ., Agence France, Getty, Al, Hamas, International Committee, Staff, Medical, Hospital, Cross Locations: Al, Gaza, Gaza City

☆ South Carolina Sen. Tim Scott Suspends Republican Presidential Campaign
▼ + stars: | 2023-11-13 | by ( Eliza Collins | ) www.wsj.com time to read: 1 min

South Carolina Sen. Tim Scott speaks to the media following the third Republican presidential primary debate. Photo: Giorgio Viera/Agence France-Presse/Getty ImagesSen. Tim Scott of South Carolina had hoped his personal story and positive message would be enough to elevate his Republican presidential campaign, but he was unable to catch momentum in a crowded field dominated by former President Donald Trump. On Sunday evening, he withdrew from the race, acknowledging that his strategy wasn’t working. The 58-year-old senator, who had been the only remaining Black candidate in the GOP primary race, made his announcement Sunday on Fox News Channel during an interview with his close friend former Rep. Trey Gowdy (R., S.C.), who was hosting.

Persons: Carolina Sen, Tim Scott, Giorgio Viera, Sen, Tim Scott of, Donald Trump, Trey Gowdy Organizations: Republican, Agence France, Getty, GOP, Fox News Channel Locations: Carolina, Tim Scott of South Carolina

☆ This Photograph of Dead Palestinian Children Demands to Be Seen - The New York Times
▼ + stars: | 2023-11-13 | by ( Lydia Polgreen | ) www.nytimes.com time to read: +13 min

The photograph tells us nothing about whether or how these children are related. Hundreds of Israeli hostages, including children, are believed to be held in Gaza by Hamas, their families desperate for their safe release. It is a rare thing for mainstream news organizations to publish graphic images of dead or wounded children. There is nothing quite so devastating as the image of a child whose life has been snuffed out by senseless violence. And so the slaughter in Maine reminded me of another image from Gaza, one you may have seen on social media.

Persons: Mahmud Hams, Israel, I’ve, Emmett Till’s, Kim Phuc Phan Thi, Nick Ut’s, “, Biden, ” Susan Sontag, ”, Sontag, photojournalists, Aaron Young, Mohammed Salem, Khan Younis, Inas Abu Maamar, Saly, Mary, Jesus, Bashar al Organizations: Palestinian Hamas, Agence France, Ministry of Health, Times, The Times, Hamas, Oslo Accords, Reuters Locations: Al Aqsa, Deir al, Gaza, Israel, Palestinian, Mahmud, Vietnam, Syrian, Turkey, Europe, Oslo, ”, Bosnia, Sarajevo, Maine, Khan, Khartoum, Russian

☆ The Low-Wage Pay Surge Is Over, Threatening the Consumer Boom
▼ + stars: | 2023-11-12 | by ( Amara Omeokwe | ) www.wsj.com time to read: 1 min

More workers are seeking jobs, and the economy is feeling the impact of the Federal Reserve’s fight against inflation. Photo: frederic j. brown/Agence France-Presse/Getty ImagesLow-wage workers were the labor market’s surprise winners of the past few years. As employers clamored to hire from a limited pool of workers, Americans in lower-paying industries gained leverage to obtain some of the largest pay raises and perks. More workers are seeking jobs, and the economy is feeling the impact of the Federal Reserve’s campaign to combat inflation. That has resulted in slower wage growth overall, but particularly at the lower end of the pay scale.

Persons: frederic Organizations: France, Federal

☆ Microsoft’s Next Act: Bending the Videogame Business Without Breaking It
▼ + stars: | 2023-11-11 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Activision Blizzard’s ‘Call of Duty: Modern Warfare III’ went on sale Friday. Photo: bertrand guay/Agence France-Presse/Getty ImagesMicrosoft now owns some of the biggest videogames in the world. The biggest of those games is in the spotlight this week, as Activision Blizzard’s latest “Call of Duty” sequel went on sale Friday. Called “Modern Warfare III,” the new game is notable for a couple reasons. The first is that much of its development took place during a period in which Activision’s future structure was uncertain, as the $75 billion acquisition by Microsoft took nearly two years to close.

Persons: III ’, bertrand guay Organizations: Activision, Agence France, Getty, Microsoft, Warfare

☆ Iran’s President Joins Saudi Summit to Push for Gaza Cease-Fire
▼ + stars: | 2023-11-11 | by ( Stephen Kalin | Summer Said | ) www.wsj.com time to read: 1 min

Iran’s President Ebrahim Raisi, in black robes, prepares to depart from Tehran to attend a summit in Saudi Arabia. Photo: handout/Agence France-Presse/Getty ImagesDUBAI—Iran’s president joined dozens of Arab and Muslim leaders at a summit in Saudi Arabia on Saturday—the first such visit to the kingdom in more than 15 years—as the Islamic world sought to project unified opposition to Israel’s military operations in Gaza. The meeting in Riyadh of the League of Arab States and the Organization of Islamic Cooperation came amid intensifying fighting between Iran-backed Hamas militants and Israeli forces around Gaza’s largest hospital.

Persons: Ebrahim Raisi Organizations: Agence France, Getty, DUBAI —, League of, Organization of Islamic Cooperation Locations: Tehran, Saudi Arabia, Gaza, Riyadh, Iran, Gaza’s

☆ UBS Remains Under Swiss Regulator’s Magnifying Glass
▼ + stars: | 2023-11-10 | by ( Richard Vanderford | ) www.wsj.com time to read: 1 min

The risks of cyberattacks, information-technology disruptions and fraud have significantly increased during the integration of UBS and Credit Suisse, Finma, Switzerland’s financial regulator said. Photo: fabrice coffrini/Agence France-Presse/Getty ImagesUBS is facing scrutiny from Finma, Switzerland’s chief financial regulator, as it integrates with Credit Suisse following the merger of the two global banks this year, the regulator said, adding that it will appoint outside monitors to oversee the process. The risks of cyberattacks, information-technology disruptions and fraud have significantly increased during the integration of UBS and Credit Suisse, Finma said Thursday in an annual risk outlook report. The regulator also noted an overarching concern that a lack of a “holistic overall risk view” could mean that controls are inadequate.

Persons: fabrice coffrini, Finma Organizations: UBS, Credit Suisse, Agence France, Getty Locations: Finma

☆ Fighting in Gaza City Raises Fears for Hospitals
▼ + stars: | 2023-11-10 | by ( Julian E. Barnes | Edward Wong | ) www.nytimes.com time to read: +5 min

That’s why we’re slowly closing in on them,” the Israeli military spokesman, Richard Hecht, told reporters on Friday night. The situation could not be immediately confirmed, though the Israeli military has made clear that its troops are fighting in the heart of Gaza City. “If conditions were better than this, we could have saved their lives,” Dr. Abu Salmiya said. “At this point, there’s just so little we can do for the wounded we receive, only the bare minimum,” said Dr. Abu Salmiya. Dr. Abu Salmiya said international organizations were welcome to investigate the site and see if they could find any evidence of Hamas’s presence there.

Persons: “, we’re, Richard Hecht, Ashraf al, Mohammed Abu Salmiya, Israel, Abu Salmiya, ” Dr, Bashar Taleb, Al Shifa, there’s, ”, Daniel Hagari, Shifa, Mohammed Al, Masri, Al Organizations: The Times, Shifa, Hamas, Palestinian, The New York Times, Al, ., Agence France, Getty, Reuters Locations: Al, Gaza City, ”, Gaza, Israel, Palestinian

A Palestinian mourned the death of family members in Khan Younis in the southern Gaza Strip on Thursday. Photo: mahmud hams/Agence France-Presse/Getty ImagesIsraeli troops were advancing toward the heart of Gaza City, engaging in heavy gunbattles and ratcheting up pressure on neighborhoods that have become a refuge for tens of thousands of Palestinians. The Israeli military said Thursday it captured an area on the western side of the Jabalia refugee camp, north of Gaza City, after a 10-hour gunbattle with Hamas that unfolded in tunnels and on city streets that have become a wasteland. Israel troops fought amid destroyed buildings, backed up by tanks, and with armored bulldozers clearing a path through the rubble, pictures released by Israel Defense Forces showed. Weapons were captured and tunnel shafts uncovered, the Israeli military said

Persons: Khan Younis, mahmud Organizations: Agence France, Getty, Hamas, Israel Defense Forces Locations: Gaza, Gaza City, Israel

☆ China Shaken by String of Cancer Cases Tied to Top Oncology Lab
▼ + stars: | 2023-11-09 | by ( Selina Cheng | ) www.wsj.com time to read: 1 min

The level of risk faced by medical researchers has been a charged topic in China since the early days of the Covid-19 pandemic. Photo: str/Agence France-Presse/Getty ImagesHONG KONG—An unusual cluster of cancer cases among Chinese researchers affiliated with one of the country’s top oncology laboratories has attracted a wave of public attention, leading to new questions around lab safety. Two surgeons at Sun Yat-Sen Memorial Hospital in the southern city of Guangzhou were diagnosed with cancer in June and October this year, the hospital said Wednesday. Both had previously worked in the hospital’s highly regarded breast-cancer research laboratory.

Organizations: Agence France, Getty, HONG, Sen Memorial Hospital Locations: China, HONG KONG, Guangzhou

☆ IRS Warns Employers About This One Tactic to Claim Pandemic Tax Credit
▼ + stars: | 2023-11-09 | by ( Richard Rubin | Ruth Simon | ) www.wsj.com time to read: 1 min

An IRS memo is the latest sign of the agency’s tough line in audits of the employee retention credit, or ERC. Photo: stefani reynolds/Agence France-Presse/Getty ImagesA lot of federal money is riding on what counts as a government order, and the Internal Revenue Service and tax firms are preparing for legal fights about that crucial definition. Employers can claim a pandemic-era tax credit worth up to $26,000 per worker if a government order fully or partially suspended their operations. Some employers and tax advisers say they can rely on Occupational Safety and Health Administration guidelines encouraging ventilation, physical distancing and other measures.

Persons: stefani reynolds Organizations: ERC, Agence France, Internal Revenue Service, Safety, Health

☆ Right Now Is a Bad Time to Spend Money
▼ + stars: | 2023-11-08 | by ( Oyin Adedoyin | ) www.wsj.com time to read: 1 min

The National Retail Federation forecasts holiday spending will grow to as much as $966.6 billion this year. Photo: frederic j. brown/Agence France-Presse/Getty ImagesPrices remain high for much of what we buy, even as inflation has slowed. Stingily saving money, meanwhile, is a more profitable activity than it has been in recent memory. Since the Federal Reserve raised interest rates to a two-decade high, any dollar spent today is a lost opportunity to earn as much as 5% or more in savings accounts, certificates of deposit and bonds. High rates also make it significantly more expensive for people to spend money they don’t have, with the annual interest rate on some credit cards pushing 30%.

Persons: frederic Organizations: National Retail Federation, France, Federal Reserve

☆ A ‘Zelda’ Movie Could Mint Money for Nintendo
▼ + stars: | 2023-11-08 | by ( Jacky Wong | ) www.wsj.com time to read: 1 min

Nintendo sold nearly 20 million copies of ‘The Legend of Zelda: Tears of the Kingdom’ after its May launch through September. Photo: ed jones/Agence France-Presse/Getty ImagesNintendo ’s Super Mario brothers smashed, jumped and climbed their way into box office fame. Now the Italian-American plumbers’ colleague Link is looking to make his mark too. For investors, that is great news: It shows Nintendo is taking its cue from the likes of Sony , which has managed a string of successful game-screen crossovers like “The Last of Us.”

Persons: Zelda, Mario, Link, ” Organizations: Nintendo, Agence France, Getty, Sony

☆ Right Now Is a Terrible Time to Spend Money
▼ + stars: | 2023-11-08 | by ( Oyin Adedoyin | ) www.wsj.com time to read: 1 min

Persons: frederic Organizations: National Retail Federation, France, Federal Reserve

☆ Netanyahu: Israel Plans to Take Responsibility for Gaza’s Security
▼ + stars: | 2023-11-08 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Netanyahu: Israel Plans to Take Responsibility for Gaza’s SecurityPrime Minister Benjamin Netanyahu said Israel planned to assume "overall security responsibility" in Gaza after the war. His comments came as Israeli forces pushed further into Gaza City. Photo: Aris Messinis/Agence France-Presse/Getty Images

Persons: Netanyahu, Benjamin Netanyahu, Israel, Aris Organizations: Gaza’s Security, Aris Messinis, Agence France Locations: Gaza, Gaza City

☆ TikTok Is Bringing Logistics to the E-Commerce Dance
▼ + stars: | 2023-11-08 | by ( Liz Young | ) www.wsj.com time to read: 1 min

Influencers and content creators on TikTok recommend products to their followers with direct links to purchase the items online. Photo: bay ismoyo/Agence France-Presse/Getty ImagesTikTok, the viral video-sharing platform, is betting heavily on logistics as it tries to turn its outsize streaming audience into a big share of the U.S. e-commerce market. The social-media app is setting up a network of warehouses and fulfillment operations, taking on nuts-and-bolts tasks such as managing inventory and delivery from the array of independent merchants that are selling goods to TikTok’s legions of followers.

Organizations: Agence France Locations: U.S

☆ Congress Must Aid Fight Against Illicit Use of Crypto, Treasury Official Says
▼ + stars: | 2023-11-08 | by ( Richard Vanderford | ) www.wsj.com time to read: 1 min

Deputy Treasury Secretary Wally Adeyemo. Photo: daniel leal/Agence France-Presse/Getty ImagesA senior Treasury Department official said the Biden administration wants new powers from Congress to aid in a crackdown on the illicit use of cryptocurrencies, citing digital asset flows allegedly connected to Palestinian militant group Hamas. Treasury has been in communication with Democrats and Republicans about actions that they could take, Deputy Treasury Secretary Wally Adeyemo said Tuesday in Washington at the annual meeting of the Securities Industry and Financial Markets Association, a trade group.

Persons: Wally Adeyemo, daniel leal, Biden Organizations: Agence France, Treasury Department, Hamas, Treasury, Securities Industry, Financial Markets Association Locations: Washington

Hamas derided the Palestinian Authority for its cooperation with Israel, including the use of Palestinian police to prevent attacks on Israel. Instead of firing rockets over issues in Gaza, Hamas was fighting for concerns central to all Palestinians, including those outside the enclave. “The Israelis were only concerned with one thing: How do I get rid of the Palestinian cause?” Mr. Hamdan said. But inside Gaza, Hamas’s capabilities grew. That restoration deepened the relationship between Hamas’s military wing in Gaza and the so-called axis of resistance, Iran’s network of regional militias, according to regional diplomats and security officials.

Persons: Sinwar, Deif, Mohammed Deif, ”, “, Osama Hamdan, Israel, Mr, Hamdan Organizations: Palestinian Authority, West Bank, Israel, Hamas, Qassam, Agence France, National Security Council, Palestinian Locations: Israel, Gaza, Egypt, Italian, “, Qatar, East Jerusalem, Aqsa, Jerusalem’s Old City, Beirut, Lebanon, Jihad, Iran, Syria

☆ U.S., NATO to Suspend Participation in Landmark Cold War Arms Treaty
▼ + stars: | 2023-11-07 | by ( Michael R. Gordon | ) www.wsj.com time to read: 1 min

Bulgarian troops during a NATO exercise. Suspending participation will give the U.S. more flexibility to deploy forces in Romania and Bulgaria, near Ukraine. Photo: nikolay doychinov/Agence France-Presse/Getty ImagesWASHINGTON—The U.S. and its NATO allies served notice Tuesday that they will formally suspend their participation in a 1990 treaty limiting conventional forces in Europe, marking the demise of another landmark arms control agreement. The North Atlantic Treaty Organization’s move follows Russia’s formal withdrawal from the accord on Tuesday and longstanding Western complaints that Moscow wasn’t honoring the terms of the treaty.

Persons: nikolay doychinov Organizations: Agence France, Getty, WASHINGTON, NATO, Atlantic Treaty Locations: NATO, Romania, Bulgaria, Ukraine, The U.S, Europe, Atlantic, Moscow

☆ Dating Apps Need to Rekindle Romance With Wall Street
▼ + stars: | 2023-11-06 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Lidiane Jones will take over as CEO of Bumble. Photo: josh edelson/Agence France-Presse/Getty ImagesInvestors are swiping left on Bumble ’s new chief. The owner of the female-driven online dating app of the same name saw its share price slide about 5% on Monday morning after the company said that founder Whitney Wolfe Herd is stepping down from the chief-executive officer role. She will remain as executive chair, while Lidiane Jones will take over as CEO on Jan 2. She currently heads up Slack Technologies, where she became CEO almost a year ago under the ownership of Salesforce.

Persons: Lidiane Jones, Bumble, josh edelson, Whitney Wolfe Organizations: Agence France, Getty, Slack Technologies

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