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☆ CFOs See Ongoing Pain From Foreign Exchange Oscillations
▼ + stars: | 2023-11-30 | by ( Kristin Broughton | Jennifer Williams-Alvarez | ) www.wsj.com time to read: 1 min

Many executives had expected the dollar to retreat this year after it shot higher in 2022. Some are now reviewing their hedging strategies. Photo: Cfoto/Zuma PressFinance chiefs are anticipating more pain from foreign exchange rates after the U.S. dollar strengthened again this summer and fall, following a historic tear last year. The U.S. dollar index, which tracks the currency against a basket of others, surged during the third quarter on higher Treasury yields, then skipped to its highest point of the year in October, when it stood 7% above a mid-July trough. Since then, the index has tumbled 4% from last month’s pinnacle and is on track for its lowest close in months, as Treasury yields soften and investors gain confidence that the Federal Reserve will be cutting interest rates in the foreseeable future.

Organizations: Zuma Press Finance, U.S ., U.S, Federal Reserve

☆ Deutsche Bank Gained Lucrative Business From Trump, Former Executive Testifies
▼ + stars: | 2023-11-30 | by ( Jacob Gershman | ) www.wsj.com time to read: 1 min

Former President Donald Trump testified in the civil fraud trial in Manhattan earlier this month. Photo: Eduardo Munoz Alvarez/Associated PressThe former Deutsche Bank executive who recruited Donald Trump as a client testified Wednesday that the bank’s dealings with the former president were lucrative and her superiors were eager to expand them. Rosemary Vrablic , a former relationship manager with the bank’s private-wealth-management division, is one of several witnesses from Deutsche Bank being called to the stand this week by Trump’s lawyers as they seek to rebut allegations by the New York attorney general that Trump committed civil fraud by overstating his wealth for financial gain.

Persons: Donald Trump, Eduardo Munoz Alvarez, Rosemary Vrablic, Trump Organizations: Associated Press, Deutsche Bank, New Locations: Manhattan, New York

The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. The defaulted company has until a Hong Kong court hearing on Monday to present a "concrete" revised debt restructuring proposal for offshore creditors, a judge said last month after its original plan had lapsed. Guangzhou-based Evergrande, which defaulted on its offshore debt in late 2021, did not respond to a request for comment. Chinese authorities have announced a string of measures to revive the sector destabilised by the debt woes of giants like Evergrande and Country Garden (2007.HK). Reporting by Clare Jim and Xie Yu in Hong Kong, Scott Murdoch in Sydney; Editing by Sumeet Chatterjee and William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Evergrande, Hui Ka Yan, Alvarez, Marsal, Clare Jim, Xie Yu, Scott Murdoch, Sumeet Chatterjee, William Mallard Organizations: China Evergrande Group, REUTERS, China Evergrande, HK, Hong Kong, Court, Reuters, Hong, Evergrande, Services, New Energy Vehicle Group, Marsal, Thomson Locations: China, Shenzhen, Guangdong province, HONG KONG, Hong Kong, China's, Guangzhou, Evergrande, Sydney

☆ Forbes built a hall of shame for all the questionable people on its 30 Under 30 lists
▼ + stars: | 2023-11-29 | by ( Pete Syme | ) www.businessinsider.com time to read: +5 min

Plenty of people on the Forbes 30 Under 30 lists have turned out to be not quite so shiny. AdvertisementThe Forbes "30 Under 30" lists celebrate the achievements of young people making a mark in a range of sectors. Its "hall of shame" starts – appropriately enough – with Sam Bankman-Fried, the FTX cofounder who was on the 30 Under 30 finance list in 2021. Caroline Ellison was on the Forbes 30 under 30 list last year. Outside the 30 Under 30 finance class, the gun rights activist Cody Wilson also makes the hall of shame.

Persons: Forbes, Sam Bankman, Martin Shkreli, —, Mark Zuckerberg, FTX, Fried, Caroline Ellison, Eduardo Munoz Alvarez Martin Shkreli, Craig Ruttle, Charlie Javice, Frank, JP Morgan Chase, Javice, Morgan, She's, Nate Paul, Lucas Duplan Clinkle, Lucas Duplan, Peter Thiel, Andreesen Horowitz, Cody Wilson, Kelly West, Steph Korey, James O'Keefe, Prendergrast, she's Organizations: Forbes, Service, Prosecutors, Justice, TechCrunch, Business, Reuters, Project Veritas, The City Magazine Locations: Alameda

☆ US FDA flags new problem with Philips machines, shares fall
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

[1/2] Dutch technology company Philips' logo is seen at company headquarters in Amsterdam, Netherlands, January 29, 2019. The new issue identified by the FDA involves a humidifier used in the "DreamStation 2" sleep therapy device. "Philips Respironics is in discussions with the (FDA) regarding the reports," it said. Philips shares were down 6.7% at 18.26 euros by 0833 GMT. The FDA said it had received reports of people facing thermal issues such as fire, smoke, burns, and other signs of overheating while using Philips' DreamStation 2 CPAP machines.

Persons: Eva Plevier, Philips, Toby Sterling, Christy Santhosh, Diana Alvarez, Shailesh Kuber, Jan Harvey Organizations: Philips, REUTERS, U.S . Food, Drug Administration, FDA, ING, Thomson Locations: Dutch, Amsterdam, Netherlands, U.S, Bengaluru, Gdansk

Washington CNN —President Joe Biden is not expected to attend the opening of the global climate summit in Dubai this week, according to a White House schedule of the president’s events. Since taking office, Biden has attended the annual UN climate summit in person in 2021 and 2022. The move has the potential to frustrate climate advocates both at home and abroad, though some activists and small island nations have called into question the effectiveness of the annual international climate summit process. O’Hanlon said Sunrise Movement also has critiques of the international climate summit itself – which is itself embroiled in controversy as it is being hosted by the oil-rich United Arab Emirates this year. A July Washington Post-University of Maryland poll found that 57% of Americans disapprove of the way Biden has handled climate policy, including 59% of voters 18-29 years old.

Persons: Joe Biden, John Kerry, Ali Zaidi, Biden, John Kirby, haven’t, Tom Evans, “ It’s, he’s, ” Evans, ”, Greta Thunberg, greenwashing ”, “ Biden, Stevie O’Hanlon, O’Hanlon, ” O’Hanlon, –, Donald Trump, John Podesta, Xi Jinping Organizations: Washington CNN, White, National Security, CNN, Sunrise Movement, Sunrise, United, Washington Post, University of Maryland, Republican, U.S, National Locations: Dubai, Israel, United Arab Emirates, Washington, China

LAS VEGAS (AP) — David Benavidez retained the interim world super middleweight belt by stopping Demetrius Andrade after the sixth round Saturday night. “Now just give me the fight that everyone wants to see.”Benavidez is widely recognized as the world’s best super middleweight after Canelo Alvarez. Immediately after his win he called for a match against Alvarez to unify the super middleweight title. Charlo’s rapid-fire left-uppercut, right-hook combination stopped Benavidez in his tracks several times as the champ kept his perfect record intact. Called two seconds into the sixth round at the request of his team, Ergashev (23-1) didn’t come out of his corner.

Persons: — David Benavidez, Demetrius Andrade, Andrade’s, Andrade, “, ” Benavidez, Benavidez, Canelo Alvarez, Alvarez, Jermall Charlo, Jose Benavidez Jr, Benavidez Jr, Subriel Matias, Shohjahon Ergashev, Matias, didn’t, Lamont Roach, Hector Garcia’s, Roach, Garcia, Tim Cheatham, Robert Hoyle, Max DeLuca Organizations: LAS VEGAS, Showtime, “, WBC, IBF, Hector Garcia’s WBA Locations: KOs

☆ Want to pick a winning retail stock this holiday season? Watch for discounts and deflation
▼ + stars: | 2023-11-22 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +9 min

However, he added, they remain more upbeat compared with last holiday season and should spend more on gifts this year. According to FactSet, analysts anticipate there could be upside of more than 20% ahead, based on average price targets. The e-commerce giant is JPMorgan analyst Doug Anmuth's top pick for the holiday season. "We project US e-comm penetration at 23.4% of adj retail sales this holiday season, +90bps above the 22.5% in 2022," he said. "We think beauty has the potential to be a relevant gifting solution for cash-strapped consumers during the upcoming Holiday season," he said.

Persons: Chad Lusk, Alvarez, Lusk, Martis, LSEG, Inna Kuznetsova, Doug Anmuth's, Doug McMillon, Krisztina Katai, Katai, Michael Lasser, Ulta, Lasser, ToolsGroup's Kuznetsova, Marsal's Lusk, Michael Bloom Organizations: Shoppers, CNBC, Walmart, Target, Retailers, Centric Market Intelligence, Amazon, LSEG, JPMorgan, Deutsche Bank, Costco, UBS, Fed, Black Locations: Lusk, Ulta, Wayfair, Williams, Sonoma

☆ CFOs Review Holiday Promotions as Consumer Spending Cools
▼ + stars: | 2023-11-19 | by ( Jennifer Williams-Alvarez | Kristin Broughton | ) www.wsj.com time to read: 1 min

New economic data last week showed the resilient U.S. consumer may finally be beginning to crack. Photo: Jeenah Moon/Bloomberg NewsCompanies are looking for new ways to entice holiday shoppers while consumers are spending less at stores and the economy is cooling. “It’s our Super Bowl,” said Tapestry finance chief Scott Roe , referring to the holiday season. This means the owner of Coach, Kate Spade and Stuart Weitzman is looking to attract shoppers, but Roe, who also serves as the company’s chief operating officer, said the company plans to be disciplined with any promotions.

Persons: ”, Scott Roe, Kate Spade, Stuart Weitzman, Roe Organizations: Bloomberg News Companies

☆ Hamas hostages release possible, pending deal by negotiators
▼ + stars: | 2023-11-19 | by ( Alex Marquardt | Mj Lee | ) edition.cnn.com time to read: +3 min

CNN —A recent draft of a possible deal to secure the release of hostages that Hamas is holding in Gaza proposes a four- to five-day pause in fighting for the initial release of 50 hostages, two sources familiar with the talks told CNN. The most recent discussions have proposed the staggered release of civilian hostages, with pauses potentially increasing after Hamas allows for an initial release of a significant number of those captured, according to the sources. Hamas indicated it would be willing to release 50 hostages over a multiday pause. One source said no agreement has been reached on how many aid trucks could enter Gaza but that more than 200 trucks was logistically challenging. The aid, including fuel and cooking oil for bakeries, would continue to flow in after the initial pauses for hostages.

Persons: Jon, Jake Tapper, Brett McGurk, CNN’s Priscilla Alvarez Organizations: CNN, Biden, Hamas, Middle, National Security Council, Qatari Embassy Locations: Gaza, “ State, Al, Qatar, Israel

☆ Negotiations to free hostages held by Hamas are closer than ‘perhaps any point,’ White House official says
▼ + stars: | 2023-11-19 | by ( Priscilla Alvarez | ) edition.cnn.com time to read: +2 min

CNN —Negotiations to secure the release of hostages held by Hamas are close and the disagreements among parties have narrowed amid intensive talks, deputy national security adviser Jon Finer said Sunday. US officials have been signaling for days that Israel and Hamas are moving closer to a deal to secure the release of hostages taken during the Hamas attacks on Israel in exchange for a sustained, days-long pause in fighting. Only a handful of hostages have been released so far since the start of the war. The negotiating parties – Israel, Hamas and the US, with Qatar mediating between them – have sought to work through a number of sticking points. And so, we don’t have perfect fidelity about exact numbers of hostages, including numbers who are still alive,” he said.

Persons: Jon, “, Jake Tapper, Joe Biden, – Israel, –, ”, we’re, CNN’s Alex Marquardt, Kaitlan Collins, MJ Lee, Oren Liebermann Organizations: CNN, Hamas, Union, UN Locations: “ State, Israel, Qatar, Gaza, United States

☆ Trump's fraud trial defense has featured 1 son, 2 pals, and an expert who noted 'glaring' math snafus
▼ + stars: | 2023-11-18 | by ( Laura Italiano | ) www.businessinsider.com time to read: +7 min

Donald Trump Jr. in court for his family's civil fraud trial in New York. AP Photo/Phelan M. EbenhackThe first defense expert witness: a Trump mega-donorThe third defense witness to take the stand, developer Steven Witkoff, was, like Donald Trump, Jr., hardly an objective source of testimony. But on Tuesday he became Trump's first expert witness, in the field of real estate valuation. His multi-billion-dollar brokerage firm, Lockton Companies, earned $1.2 million last year as Trump's insurance broker, he said. He said he didn't have a real estate license — he doesn't need one to be a broker, he explained.

Persons: —, Donald Trump, Donald Trump , Jr, Junior, Donald Trump Jr, David Dee Delgado, Christopher Kise, Trump, Kise, Phelan M, Ebenhack, Steven Witkoff, Witkoff, Trump's, Eduardo Munoz Alvarez, Jason Flemmons, Flemmons, James, Flemmons flubbed, Steven Laposa, Laposa, LIV, Timothy A, Clary, Gary Giulietti, Giulietti Organizations: Trump, Service, New, AP, Republican, Woolworth, Supreme, Securities and Exchange Commission, SEC, Getty, Lockton Companies, Zurich Insurance Group Locations: New York, Manhattan, Trump, New Jersey

CNN —President Joe Biden took aim at violence against Palestinians in the West Bank in an op-ed published Saturday, signaling that the US is prepared to issue visa bans. Biden also in the op-ed rejected calls for a ceasefire in Gaza in the op-ed, maintaining a position he has held since the Israel-Hamas conflict began early last month. The president underscored that message in his op-ed Saturday and attempted to highlight the similarities between the two wars. “Both Putin and Hamas are fighting to wipe a neighboring democracy off the map,” Biden wrote. Biden closed with condemning the rising antisemitism and Islamophobia since the conflict between Israel and Hamas began.

Persons: Joe Biden, ” Biden, Matt Miller, Biden, “, Putin, ” Organizations: CNN, West Bank, Washington Post, State Department, Hamas Locations: Washington, United States, Israel, Gaza, Ukraine

☆ Sephora has locked up all its perfume. It says too many people were stealing
▼ + stars: | 2023-11-15 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +5 min

New York CNN —Sephora has drastically changed the way people shop for fragrances in its stores, and it’s blaming store thefts for it. Sephora locked up the fragrances and added more staff specifically tasked with stopping theft. “To minimize the threats of retail theft and to provide our shoppers with the peace of mind during their experience at Sephora, we’ve increased the presence of Sephora loss prevention investigators across all stores. “The ultimate victim of retail crime is 100% the consumer,” said Landon Winkelvoss, co-founder of Nisos, a provider of threat intelligence to companies and organizations. “Sephora freed the products and put them straight into consumers hands so they could touch, swatch and experience the products at their leisure,” she added.

Persons: New York CNN — Sephora, Sephora, I’m, ”, Mark Skertic, Skertic, Landon Winkelvoss, Manola Soler, Alvarez, “ Sephora Organizations: New, New York CNN, CNN, “, eBay, Facebook, Walgreens, Marsal’s Consumer, Retail, swatch Locations: New York, Sephora, Chicago

☆ Oregon Decriminalized Hard Drugs. It Isn’t Working.
▼ + stars: | 2023-11-11 | by ( Zusha Elinson | Photographs Moriah Ratner For The Wall Street Journal | ) www.wsj.com time to read: 1 min

EUGENE, Ore.—Soon after Oregon became the first state to decriminalize all drugs, Officer Jose Alvarez stopped arresting people for possession and began giving out tickets with the number for a rehab helpline. Most of the people smoking fentanyl or meth on this city’s streets balled them up and tossed them onto the ground.

Persons: Jose Alvarez Locations: EUGENE, Oregon

☆ Yelp Profit Soared With Help From IRS Guidance on R&D Tax Deductions
▼ + stars: | 2023-11-10 | by ( Jennifer Williams-Alvarez | Mark Maurer | ) www.wsj.com time to read: 1 min

Yelp’s office in San Francisco. The company’s third-quarter earnings included $15 million from a one-time tax adjustment after new IRS guidance. Photo: Jeff Chiu/Associated PressYelp ’s profit rocketed more than sixfold in its latest quarter, and it wasn’t entirely due to restaurant reviews. The surge in earnings was in part the effect of a one-time tax adjustment related to deductions for research and development, following recent guidance from the Internal Revenue Service.

Persons: Jeff Chiu, Yelp Organizations: Associated, Internal Revenue Service Locations: San Francisco

☆ Biden administration privately warned by American diplomats of growing fury against US in Arab world
▼ + stars: | 2023-11-09 | by ( Priscilla Alvarez | Alex Marquardt | ) edition.cnn.com time to read: +4 min

CNN —The Biden administration has received stark warnings from American diplomats in the Arab world that its strong support for Israel’s destructive and deadly military campaign in Gaza “is losing us Arab publics for a generation,” according to a diplomatic cable obtained by CNN. While it’s just one cable from a regional embassy, it provides a private snapshot of the alarm over the growing anti-US wave sweeping the Middle East. President Joe Biden has been under growing pressure domestically and abroad over US support of Israel amid images of destruction in Gaza and the dire humanitarian crisis in the region. In recent days, US allies in the Arab world have made clear their deep anger at the humanitarian crisis in Gaza. Still, within the administration, concerns have grown over US support for Israel.

Persons: CNN —, Biden, “, it’s, Biden’s, Joe Biden, Antony Blinken, Blinken, Israel, Benjamin Netanyahu, Joe, ” Organizations: CNN, US, White, National Security Council, CIA, FBI, State Department, United Arab, Palestine Liberation Organization, Israel Locations: Gaza, United States, Israel, Oman, Muscat, Cairo, Washington, Jordanian, Egypt, Qatar, United Arab Emirates, Saudi Arabia, Northern Gaza

“It has created great moral anxiety,” said one senior administration official. Elsewhere in the administration, officials are quietly fuming as the civilian death toll mounts. But Netanyahu and other Israeli officials have steadfastly rejected the idea of a lengthy pause in the fighting unless hostages are released. Administration officials argue they have had success in some areas as they work to alleviate the humanitarian crisis in Gaza. Still, steady pressure by the Biden administration on Israel to refine its war plans and define its objectives in Gaza has not yielded the level of clarity many US officials say is necessary.

Persons: Biden, ”, Benjamin Netanyahu, Antony Blinken, Netanyahu, Joe, John Kirby, that’s, ” Kirby, weren’t, “ They’re, We’ve, ” Blinken, Israel “, Kirby, “, Blinken, Israel, we’ve, Mark Regev, CNN’s Christiane Amanpour, Regev, CNN’s Priscilla Alvarez Organizations: Tokyo CNN, CNN, State Department, US Agency for International Development, “, USAID, United States Government, State, ” National Security, Israel Defense Forces, West Bank, Israel, Democratic Party, ABC News, ABC Locations: Washington, Tokyo, Gaza, –, Israel, ”, Tel Aviv, Turkey, Egypt, States

☆ Disney’s New CFO Brings Experience to Company’s Activist Investor Battle
▼ + stars: | 2023-11-07 | by ( Kristin Broughton | Jennifer Williams-Alvarez | ) www.wsj.com time to read: 1 min

Disney’s stock price has recently tumbled, under pressure from cord-cutting and the high cost of streaming. Photo: fred prouser/ReutersWalt Disney ’s new finance chief steps into the role with a noteworthy victory: His former company fended off an attack from activist investor Nelson Peltz . Disney on Monday named Hugh Johnston , the longtime finance chief of PepsiCo , as its next chief financial officer. Johnston joins Disney as the company faces activist pressure from Peltz, whose firm, Trian Fund Management, has built a sizable stake in the company and is threatening a proxy battle. Disney’s stock price has recently tumbled, under pressure from ongoing cord-cutting and the high cost of streaming.

Persons: fred prouser, Reuters Walt, Nelson Peltz, Hugh Johnston, Johnston Organizations: Reuters, Reuters Walt Disney ’, Disney, PepsiCo, Trian Fund Management

☆ WeWork, once valued at $47 billion, files for bankruptcy
▼ + stars: | 2023-11-07 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

The WeWork logo is displayed outside of a shared commercial office space building in Los Angeles, California on August 8, 2023. The bankruptcy filing is limited to WeWork's locations in the U.S. and Canada, the company said in a press release. The company reported liabilities ranging from $10 billion to $50 billion, according to a bankruptcy filing. Valued in 2019 at $47 billion in a round led by Masayoshi Son's SoftBank, the company tried and failed to go public five years ago. The company leases millions of square feet of office space in 777 locations around the world, according to its regulatory filings.

Persons: WeWork, Patrick T, Fallon, PATRICK T, FALLON, David Tolley, Masayoshi Son's SoftBank, Adam Neumann, Neumann, Kirkland, Ellis, Cole Schotz, PJT, CNBC's Ari Levy Organizations: Securities and Exchange Commission, SEC, Getty, New York Stock Exchange, CNBC, PJT Partners, C Street Advisory Group, Alvarez, Marsal Locations: Los Angeles , California, AFP, New Jersey, U.S, Canada

☆ White House warns Israel against reoccupying Gaza as Netanyahu signals what a post-war Strip could look like
▼ + stars: | 2023-11-07 | by ( Priscilla Alvarez | ) edition.cnn.com time to read: +4 min

“The president still believes that a reoccupation of Gaza by Israeli forces is not good. In an interview with CBS’ “60 Minutes” last month, Biden said it would be a “big mistake” for Israel to occupy Gaza. Israeli government officials have not yet elaborated on how Gaza would be governed should they succeed in eliminating Hamas. Defense Minister Yoav Gallant said Tuesday that Israel will “retain complete freedom of action to respond to any situation in the Gaza Strip” once the war ends. That hasn’t changed since October 7 and it’s not going to change going forward,” Kirby said.

Persons: Benjamin Netanyahu, “, It’s, ”, John Kirby, Antony, Blinken, Netanyahu, we’ve, Joe Biden’s, Biden, Michael Herzog, CNN’s Jake Tapper, Israel, Yoav Gallant, Gallant, ” Gallant, Kirby, We’re, hasn’t, it’s, ” Kirby, CNN’s Jennifer Hansler, Hagi Cohen, Boland, Stephanie Halasz, Natasha Bertrand, Katie Bo Lillis, Oren Liebermann, Kareem El Damanhoury, Mitchell McCluskey Organizations: Washington CNN, Security, CNN, ABC News, CBS, Hamas, Israel’s Foreign Affairs, Defense Committee, Israel Locations: Gaza, Israel, United States

☆ Haaland a doubt as Man City seek to wrap up last 16 spot
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

MANCHESTER, Nov 6 (Reuters) - Holders Manchester City will qualify for the Champions League knockout rounds with two games to spare with victory over Young Boys on Tuesday but they may have to do it without Erling Haaland. He could opt to spare Haaland though, especially with a trip to Chelsea in the Premier League on Sunday. We'll speak with the doctors," Guardiola told reporters. "I will listen to him, if he says I am ready and I don't have pain I will consider to let him play. City have a maximum nine points with their only serious rivals in the group being RB Leipzig on six.

Persons: Erling Haaland, Guardiola, tinker, Erling isn't, Julian, Alvarez, Martyn Herman, Pritha Sarkar Organizations: MANCHESTER, Manchester, Champions League, Young Boys, Premier League, Swiss, Chelsea, Barcelona, Manchester United, European, League, Leipzig, Red Star Belgrade, Thomson Locations: Norwegian, Bournemouth, City, Leipzig

☆ Hundreds leave to join Mexico migrant caravan headed for US
▼ + stars: | 2023-11-05 | by ( Jose Torres | ) www.reuters.com time to read: +1 min

MEXICO, Nov 5 (Reuters) - A caravan of at least hundreds of migrants left from the southern Mexican city of Tapachula on Sunday, heading for the U.S. southern border. The smaller caravan plans to join a larger one that left six days ago and is currently stopped about 25 miles (40 km) north in the town of Huixtla. [1/3]Migrants walk along the road in a caravan in an attempt to reach the U.S border, in Tapachula, Mexico November 5, 2023. A record number of people this year have crossed the Darien Gap region connecting Panama and Colombia. Reporting by Jose Torres; Writing by Sarah Kinosian; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Jose Torres, Selma Alvarez, Alvarez, Joe Biden, Sarah Kinosian, Josie Kao Organizations: REUTERS, Jose Torres Acquire, CBP, Thomson Locations: MEXICO, Mexican, Tapachula, U.S, Huixtla, Chiapas, Cuba, El Salvador, Guatemala, Haiti, Honduras, Venezuela, Mexico, Darien, Panama, Colombia

☆ Sam Bankman-Fried tried to pin his fraud scheme on his closest friends. Then they turned on him for it.
▼ + stars: | 2023-11-03 | by ( Katie Balevic | ) www.businessinsider.com time to read: +12 min

A jury found Sam Bankman-Fried guilty in his fraud trial over the collapse of FTX. One by one, his friends flipped to work with the prosecution and threw Bankman-Fried under a much bigger bus. That's how a jury found him guilty of seven counts in his federal fraud trial in downtown Manhattan on Thursday evening. AdvertisementAdvertisementSingh, for example, testified he was "blindsided and horrified" when he found out in November that Alameda had used FTX customer money. The sentencing schedule may depend on a second criminal trial Bankman-Fried faces for alleged illegal campaign contributions.

Persons: Sam Bankman, Fried, SBF, —, FTX, –, Nicolas Roos, Jim Angel, Angel, Caroline Ellison, Gary Wang, Nishad Singh, Bankman, Singh, blindsided, Ellison, Sam, Eduardo Munoz Alvarez, Wang, Singh —, Mark Cohen, Cohen, who'd, Adam Yedidia, Sun, deflating, they're, Chelsea Jia Feng, Danielle Sassoon, Roos Organizations: Service, Prosecutors, MIT, Georgetown, Financial Markets, Alameda, Bankman Locations: FTX, Alameda, Manhattan, Bankman

CNN witnessed the skies of Northern Gaza illuminated by flares and explosions as the bombardment intensified late Thursday night. Israel Defense Forces spokesman Lt. Col. Jonathan Conricus claimed the strike was targeting a Hamas commander hiding in an underground bunker and that when the complex imploded it possibly collapsed nearby buildings. The Israel military says there are fuel supplies in Gaza being held by Hamas, which are not being distributed for humanitarian purposes, CNN has reported. Pentagon officials believe Israel has been striking legitimate Hamas targets, including some senior commanders. Blinken plans to raise the issue in his talks with Israeli officials Friday, according to a person familiar with the matter.

Persons: Joe Biden, Biden, Lloyd Austin, Antony Blinken –, –, “ didn’t, ”, Jonathan Conricus, Benjamin Netanyahu, Netanyahu, Israel, Blinken, “ I’m, Base Andrews, “, Sen, Chris Murphy of, Austin, Yoav Gallant, CQ Brown, Herzi, Gabriel Boric, Boric, CNN’s Oren Liebermann Organizations: Washington CNN, Israel, Israel Defense Forces, CNN, White, Israeli, Sunday, West Bank, Hamas, Base, Pentagon, Joint Chiefs, Staff Locations: Israel, Gaza, Gaza City, Northern Gaza, Minnesota, Chris Murphy of Connecticut, Chile

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