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David Ryder / Bloomberg via Getty ImagesCities throughout the country are opening warming centers this week, including Chicago, Houston, San Antonio, Atlanta and Albuquerque, New Mexico. The city’s Office of Emergency Management will transform the Denver Coliseum into a 24-hour warming center starting Wednesday. Recreation centers and libraries will remain open during regular operating hours and function as warming centers Thursday and Friday. The Seattle region is also opening warming centers across King County, including overnight shelters for families experiencing homelessness. San Antonio will also open warming centers.

☆ Sam Bankman-Fried had to be 'awakened' by a court official after closing his eyes during his extradition hearing, report says
▼ + stars: | 2022-12-20 | by ( Grace Dean | Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

SBF had to be "awakened" by a court official after closing his eyes during a hearing, per Reuters. Bankman-Fried was in court in Nassau, the capital of the Bahamas, on Monday. Last week he had indicated to the court that he wasn't waiving his right to challenge his extradition to the US. The Journal reported that at the hearing, a court official told Bankman-Fried to stand up straight. When asked to stand in court, Bloomberg reported that Bankman-Fried had removed his blue suit jacket, untucked his shirt, and had his sleeves rolled up.

☆ Biden's student-loan forgiveness 'does not go far enough' for seniors and people with disabilities facing 'crippling debt,' a Democratic lawmaker says
▼ + stars: | 2022-12-19 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

A group of Democrats introduced a bill to wipe out student debt for Medicare and Social Security Disability Insurance recipients. Rep. Jamaal Bowman said Biden's broad debt relief "does not go far enough" to help those borrowers. Social Security benefits risk being seized if a borrower falls behind on student debt payments. More than three million Americans over 60 collectively owe more than $86 billion in student loans, per the Consumer Financial Protection Bureau. Social Security benefits are also at risk of seizure if a borrower defaults on paying their student loans.

Twitter laid off roughly 3,700 employees in early November in a cost-cutting measure by Musk, the world's richest person, and hundreds more subsequently resigned. The lawsuit says Twitter failed to give the 60 days notice required by federal and California laws before engaging in mass layoffs. Donato in the ruling said asking workers to waive legal claims against Twitter without telling them about the lawsuit would be misleading. Twitter had agreed not to seek releases from laid-off workers pending Donato's decision. The lawsuits accuse Twitter of failing to give contract workers notice before laying them off and discriminating against women and employees with disabilities.

REUTERS/Dante Carrer/File PhotoNASSAU, Dec 13 (Reuters) - Cordoned-off roads, a sweltering courtroom and numerous delays marked Sam Bankman-Fried's first in-person public appearance since his crypto company collapsed. The Bahamas courtroom hearing, conducted over the course of six hours, saw Bankman-Fried, dressed in a suit rather than his typical t-shirt attire, seeking bail to dispute his extradition to the U.S. "I'm not waiving," Bankman-Fried said when asked if he would seek to waive his right to an extradition hearing. At the start of the proceedings, Bankman-Fried asked to change an Emsam patch, a medical strip applied to the skin that is used to treat adult depression. Bankman-Fried's defense counsel pointed out that Bankman-Fried had spent weeks in The Bahamas after his business collapsed without attempting to leave the country.

☆ U.S. senator presses FAA for details on Boeing 737 MAX alerting system
▼ + stars: | 2022-12-01 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Nov 30 (Reuters) - A senior U.S. lawmaker wants details from the Federal Aviation Administration (FAA) about the safety of the cockpit alerting system for the Boeing 737 MAX -- an issue at the heart of a dispute over two new variants of the best selling airplane. Senate Commerce Committee Chair Maria Cantwell on Tuesday circulated a draft proposal that would extend the 737 MAX 7 and MAX 10 certification deadline and require retrofitting existing planes with safety enhancements, Reuters reported. After Dec. 27, all planes must have modern cockpit alerting systems to be certified by the FAA, which could put the two new MAX planes future in jeopardy. Cantwell's letter asked "to the extent FAA has identified safety deficiencies with 737 MAX’s flight crew alerting system, please describe FAA’s plans to immediately address these safety concerns." Boeing declined to comment but has said it is safer to have one common cockpit alerting system for all versions of the 737.

You probably already know that most travel credit cards offer some form of rental car insurance. It's often said the Chase Sapphire Preferred is the best starter travel credit card — and primary rental car insurance is a big reason why. If you're using a business credit card that offers primary car rental insurance, you need to be renting a car for business purposes in order to receive the coverage. Whether your coverage comes from a credit card, the auto rental agency, or your personal insurance plan, you should get rental car insurance. Of all rental car insurance options, primary insurance with a credit card is the best value.

☆ Tropical Storm Nicole snarls travel in Florida, Orlando airport to suspend flights
▼ + stars: | 2022-11-09 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

This GOES-East GoeColor satellite image taken at 2:36 p.m. EST and provided by NOAA shows Tropical Storm Nicole approaching toward the northwestern Bahamas and Florida's Atlantic coastline on Tuesday, Nov. 8, 2022. Tropical Storm Nicole snarled Florida travel on Wednesday, prompting at least one airport to suspend operations as forecasters warned of "hurricane conditions" for the state's east coast. Orlando International Airport said it would suspend operations from 4 p.m. Miramar, Florida-based Spirit Airlines , said it would waive change fees and fare differences for Fort Lauderdale and Miami flights through Nov. 14 and Orlando flights through Nov. 16. Other airlines including JetBlue , which has a large operation in Fort Lauderdale, and Southwest , American and Delta, also waived fees for travelers affected by the storm.

☆ Getting laid off? Know your rights
▼ + stars: | 2022-11-08 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +8 min

The abrupt and unceremonious way that thousands of Twitter employees got laid off last week was a spectacle. But it was also a helpful reminder that while employers can get rid of many workers at will (and with zero graciousness), employees are not without rights when they are laid off en masse. Technically you will remain on the company’s payroll and will continue to receive pay and benefits in the interim, and then any severance you’re given would kick in. A second reason many offer severance: “Good will and fairness to the employees and to the community as a whole. Or, if you just have some very simple questions, some employment lawyers might offer a free consultation by phone.

Twitter is already facing a proposed class action claiming the layoffs are imminent and will violate U.S. and California laws if employees are not given advance notice or severance pay. The law defines mass layoffs as those affecting at least 500 employees during a 30-day period, or at least 50 employees if layoffs impact at least one-third of a company's workforce. The lawsuit claims the layoffs violate the WARN Act and a similar California law. The law firm behind that case, Boston-based Lichten & Liss-Riordan, also represents the Twitter workers who sued on Thursday. Enterprise Rent-A-Car, Hertz Corp (HERTZ.UL), restaurant chain Hooters and Florida hotel operator Rosen Hotels and Resorts Inc all settled WARN Act lawsuits over pandemic-related layoffs.

☆ Here's how the Fed's rate hike can move markets and whether to expect a central bank pivot
▼ + stars: | 2022-11-02 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

That bank thinks the Fed is going to skirt any talk of a pivot, and opt for continued rate hikes albeit at a slower pace. Goldman Sachs listed three reasons the Fed will carry on with rate hikes:US inflation will remain "sticky" so a pivot won't be justified. Keeping rate hikes going until March 2023 will set up the central bank for a future pivot. US stock futures rise early Wednesday, as eyes turn toward the Fed's rate hike decision later today. Here's what you want to know about the 1920 rule that's still moving markets more than a century later.

☆ Premarket stocks: Why investors aren't going green
▼ + stars: | 2022-10-24 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

ESG funds in September saw their largest outflow of investor cash since the March 2020 recession. These ESG and responsible investing funds saw assets under management peak above $8.5 trillion in late 2021. That’s because ESG ratings agencies tend to rate companies against others within their industry, so oil and gas companies are rated separately from automotive companies. A debate over how to regulate ESG funds is also adding to the noisy picture. But the hurdles facing ESG investing show that doing so is easier said than done.

Philip Morris (PM.N) increased its bid by more than 9% to 116 Swedish crowns per share and said that the offer was its "best and final price". Philip Morris made an all-cash offer of 106 crowns per share for Stockholm-based Swedish Match in May. By Swedish law, 90% of Swedish Match shareholders need to approve the offer before Nov.4. Pontus Dackmo, CEO of Protean Funds who has 500,000 shares in Swedish Match, said he was still not impressed by the sweetened offer from Philip Morris. The company had earlier said it was expecting EU antitrust approval for its Swedish Match bid in late October.

☆ Philip Morris sweetens buyout bid for Swedish Match to $15.8 bln
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +1 min

Philip Morris raised its bid by more than 9% to 116 Swedish crowns per share, although it said that the offer was its "best and final price". Swedish Match did not immediately respond to Reuters's request for comment on the revised offer. Philip Morris has announced that they are not waiving the 90 percent acceptance condition. The deal will fail and Swedish Match will remain an independent company," Hempton said. The company had earlier said that it was expecting EU antitrust approval for its Swedish Match bid in late October.

☆ Inflation has people living paycheck to paycheck. Here’s how some banks are responding
▼ + stars: | 2022-10-20 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

New York CNN Business —“Payday Friday” may soon be replaced by “Payday Wednesday.”This week, JPMorgan Chase, America’s largest bank, became the latest financial institution to offer customers early access to their direct deposits. Also, in the past year, several banks such as Bank of America, Citi and Chase have started scrapping overdraft fees. Services such as early access to direct deposits and waiving of overdraft fees come at a time when historically high inflation is draining consumers’ excess savings, said Mark Hamrick, chief economist for Bankrate. “At a time when prices have been high on a continuing basis, that has robbed consumers of purchasing power,” he said. So if there’s an interruption in income, that means individuals are going to be facing increased financial stress.”

☆ Hong Kong’s Stock Exchange Proposes Waiving Revenue Requirement for Some Tech IPOs
▼ + stars: | 2022-10-19 | by ( Dave Sebastian | ) www.wsj.com time to read: 1 min

Primary and secondary listings on Hong Kong’s stock exchange so far this year are down 71% from the same period last year. Hong Kong’s stock exchange is planning new rules allowing some technology and science companies that haven’t yet generated revenue to go public, its latest effort to boost initial-public-offering volumes. Hong Kong Exchanges & Clearing operator of the exchange, wants to lower the bar for listings of pre-revenue and early-stage technology companies. That would expand the number of potential IPOs in a market that has struggled this year. Primary and secondary listings in Hong Kong so far this year have raised $10.78 billion, down 71% from the same period in 2021, according to Dealogic.

☆ Multigenerational Hispanic households are under pressure as rates surge and homes remain costly
▼ + stars: | 2022-10-19 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

Mortgage rates have also surged as the Federal Reserve tightens monetary policy to curb inflationary pressures not seen in about 40 years. Roughly a quarter of Asian, Black and Hispanic Americans each lived in multigenerational households in 2021, compared to 13% of those who are white. "Latinos are more likely to live in multigenerational households," said Gary Acosta, co-founder and CEO of the National Association of Hispanic Real Estate Professionals. "But being a larger multigenerational family comes with complications if you're trying to be a homeowner," he said. For the Espinoza family, the ideal home would have at least three bedrooms, a backyard and proximity to employment and schools in Santa Ana.

☆ Mayor Michelle Wu Wants to Change Boston. But Can Boston Change?
▼ + stars: | 2022-10-17 | by ( David Marchese | ) www.nytimes.com time to read: +14 min

Mamadi Doumbouya for The New York Times Talk Mayor Michelle Wu Wants to Change Boston. “I was sworn in and immediately was trying to navigate Boston through the Omicron surge,” says Wu, who is 37. So the question is: How do we ensure that we can be a green and growing city that’s healthy and affordable for everyone? Does that rethinking involve abolishing the Boston Planning and Development Agency? For example, if you take the school system, there are a lot of structural challenges that our Boston public schools have been facing.

New York CNN Business —Spam and fake accounts are more prevalent on Twitter than on comparable social platforms, according to a data analysis firm hired by Elon Musk as part of his legal battle with Twitter. Bots on Twitter have been central to the dispute over Musk’s initial attempt to get out of the acquisition deal. Cyabra’s analysisCyabra first made waves in May, after Musk’s deal was first announced. Using publicly available data, the company claimed at the time that spam and bot accounts represented 13.7% of accounts on Twitter. Brahmy said Cyabra did not work with the other data analysis firms used by Musk’s team, and he declined to discuss whether or how much Cyabra was paid to perform the commissioned analysis.

☆ IRS delays guidelines, waiving penalties for some inherited retirement accounts until 2023
▼ + stars: | 2022-10-10 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

If you inherited a retirement account in 2020 or 2021, the IRS is waiving penalties for some heirs who needed to start taking required minimum distributions right away, according to a notice issued Friday. Thanks to the Secure Act of 2019, certain heirs, known as "non-eligible designated beneficiaries," have to deplete inherited retirement accounts within 10 years, known as the "10-year-rule." The 10-year rule applies to accounts inherited on Jan. 1, 2020, or later. In that case, heirs were expected to start taking RMDs immediately. Owners of inherited IRAs and retirement plan beneficiaries have expressed confusion about the timeline for required RMDs, and asked for "transition relief" for missed 2021 and 2022 RMDs, according to the notice.

Winner: TD Bank The TD Bank Convenience Checking Account makes it easier to waive monthly service fees than Chase Total Checking®. Interest rates are variable and subject to change Minimum Deposit Amount $0 View Full Details Learn moreChase Savings℠ 3.25 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 3.25 out of 5 Stars Annual Percentage Yield (APY) 0.01% APY effective as of 10/10/2022. Winner: TD Bank TD Bank CDs require a much lower minimum opening deposit than Chase CDs. TD Bank vs. Chase trustworthiness and BBB ratingsWe include ratings from the Better Business Bureau to evaluate how a bank deals with customer issues. The BBB also gave TD Bank an A rating because government action was taken against the TD Bank.

☆ UK banks and insurers told to step up help for struggling customers
▼ + stars: | 2022-09-29 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, Sept 29 (Reuters) - Britain's Financial Conduct Authority (FCA) told banks and insurers on Thursday to do more to help customers struggling with a cost of living crisis as it investigates 40 banks for dragging their feet. Register now for FREE unlimited access to Reuters.com Register"We’ve told lenders that we expect them to support struggling customers, particularly as they have the data to spot the warning signs first," Mills told a City & Financial conference. "We have identified 30 firms that need to do more to help struggling customers and will investigate the activities of 40 more," Mills said. The FCA on Thursday wrote to heads of insurers, saying they should help to avoid policy cancellations or consider waiving policy cancellation fees. Over three million customers have fixed rate deals that are due to expire in the next two years, meaning they face a big hike in monthly payments.

☆ Some Florida hotels are cutting their rates so that residents can safely shelter from Hurricane Ian
▼ + stars: | 2022-09-28 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Some Florida hotels are offering reduced rates for residents to shelter from Hurricane Ian. Rosen Hotels & Resorts announced it was offering special "distress rates" across some properties. The rates have been offered in Florida before when a storm or hurricane has posed a risk to residents. The discounted distress rates, which do not include tax, are $69 a night for Rosen Inn International, Rosen Inn Closest to Universal, Rosen Inn Pointe Orlando, and Rosen Inn Lake Buena Vista. Rosen Plaza will charge $99 per night, Rosen Centre will cost $109 per night, and Rosen Shingle Creek will charge $119 per night.

Sept 27 (Reuters) - Airlines canceled over 2,000 U.S. flights on Tuesday and Wednesday and some Florida airports halted operations as they braced for impact from Hurricane Ian, which was set to make landfall in the state. Airlines had scrapped 367 flights on Tuesday and 1,748 on Wednesday across the United States, according to flight-tracking website Flightaware.com. REUTERS/Shannon Stapleton/File PhotoloadingEven Florida airports not closing were experiencing major impacts. Airlines canceled about 40% of flights at Miami International Airport on Wednesday. The Federal Aviation Administration said it was "closely monitoring" Hurricane Ian and its path.

☆ Hurricane Ian snarls air travel in western Florida
▼ + stars: | 2022-09-27 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Local residents fill sandbags, as Hurricane Ian spun toward the state carrying high winds, torrential rains and a powerful storm surge, at Ben T. Davis Beach in Tampa, Florida, U.S., September 26, 2022. Airlines canceled flights and at least one major airport on Florida's west coast said it will suspend operations ahead of Hurricane Ian's arrival. Tampa International Airport said it will suspend operations at 5 p.m. EDT on Tuesday. Officials at Southwest Florida International Airport, which serves the Fort Myers area, are expecting flight cancellations late Tuesday and throughout Wednesday. They will hold a call with carriers and the Federal Aviation Administration at 1 p.m. Tuesday to discuss next steps as Hurricane Ian approaches.

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