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☆ New York City Mayor Eric Adams accused of 1993 sexual assault in legal filing
▼ + stars: | 2023-11-23 | by ( ) www.cnbc.com time to read: +2 min

New York City Mayor Eric Adams has been accused of sexually assaulting a woman in 1993, according to a legal summons filed Wednesday. The three-page filing does not contain details of the alleged assault but names Adams, the transit bureau of the New York Police Department and the New York Police Department Guardians Association as defendants. "Plaintiff was sexually assaulted by Defendant Eric Adams in New York, New York in 1993 while they both worked for the City of New York," the summons reads. In a statement, a City Hall spokesman said: "The mayor does not know who this person is. Adams, a Democrat, was a New York City police officer who rose to the rank of captain before entering politics.

Persons: Eric Adams, Adams, Plaintiff, Donald Trump, Sean, Diddy, Combs, Russell Brand Organizations: York City, New York Police Department, New York Police Department Guardians Association, City, Democrat, The New York Times, New, New York Post Locations: York, New York , New York, City of New York, Manhattan, New York City, Brooklyn, New York, Turkey

☆ OpenAI had a confusing week. Who came out on top? And who lost out?
▼ + stars: | 2023-11-22 | by ( Brian Fung | ) edition.cnn.com time to read: +6 min

But in other ways, the agreement is still a watershed moment for OpenAI and the artificial intelligence field writ large. Who came out on topSam Altman: A clear winner in the whole debacle is, of course, Altman himself. With some of the apparent architects of Altman’s ouster being pushed out themselves, a casualty of the affair may be the perspectives that those board members espoused. Emmett Shear, whom the board named OpenAI’s interim CEO for all of two days, has also expressed similar worries. In the fallout of the leadership crisis, some have argued that the outcome is also a defeat for effective altruism, the movement with which some OpenAI board members are said to be affiliated.

Persons: Sam Altman, Altman, bungled, that’s, Satya Nadella, OpenAI, Nadella, we’re, ” Nadella, Bret Taylor, Larry Summers, Nathan Laine, Hollie Adams, Taylor isn’t, He’s, Elon Musk, Summers, Who, OpenAI’s, Gabby Jones, Emmett Shear Organizations: CNN, Microsoft, Bloomberg, Getty, Facebook, Twitter, Harvard University Locations: OpenAI, Brooklyn, New York

☆ Kohl's misses quarterly sales estimates as customers cut back spending
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +1 min

The Kohl’s label is seen on a shopping cart in a Kohl’s department store in the Brooklyn borough of New York, U.S., January 25, 2022. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 21 (Reuters) - Kohl's on Tuesday posted a bigger than expected drop in quarterly sales, as customers spent less dollars at its department stores amid persistently high inflation. Its comparable sales decreased by 5.5% in the third quarter, compared with analysts' estimate for a 3% fall, according to LSEG data. Inventories were down 13% in the quarter, the third straight quarter of decline. Reporting by Granth Vanaik in Bengaluru; Editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Kohl's, Granth, Milla Nissi Organizations: REUTERS, Thomson Locations: Brooklyn, New York, U.S, Falls , Wisconsin, Bengaluru

☆ Wimbledon suffers expansion plan blow after council refuses permission
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +3 min

"Naturally, we are disappointed by the London Borough of Wandsworth's decision," Sally Bolton, Chief Executive of the All England Club, said in a statement. A post from the London Borough of Wandsworth on X, formerly Twitter, confirmed the decision: "Wandsworth's planning committee votes to refuse Wimbledon tennis expansion plans." In 2018 the AELTC's 65 million pounds ($81 million) bid for Wimbledon Park Golf Club was accepted by members. The tennis club argues that its expansion plans would actually return private land back to the public. Lawmaker Stephen Hammond, who represents the Wimbledon constituency, said he was pleased Wandsworth had refused the plans.

Persons: Paul Childs, Sally Bolton, Bolton, Stephen Hammond, Wandsworth, Martyn Herman, Toby Davis Organizations: Lawn Tennis, Croquet Club, REUTERS, Wimbledon, England Tennis Club, London Borough, All England, Twitter, Hall, England, Project, Daily Mail, Thomson Locations: London, Britain, London Borough, Wandsworth, Wimbledon, Merton, Wandsworth's

☆ Bankrupt WeWork enters financing agreements with certain lenders
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +1 min

A WeWork logo is seen outside its offices in the Queens borough of New York City, U.S., November 7, 2023. WeWork, once the most valuable U.S. startup, struggled to achieve profitability as a rise in work-from-home trends following the pandemic soured demand for its shared office spaces. The financing could be as much as $682.5 million but it could also be smaller than that depending on other conditions, WeWork said, adding that the parties have agreed to provide the financing individually and not jointly. The company also said the financing agreement was dependent on fulfilling certain conditions, including the approval of the Bankruptcy Court. WeWork entered bankruptcy with about $164 million of cash on hand, according to court filings.

Persons: Shannon Stapleton, WeWork, Bhanvi, Devika Organizations: REUTERS, Goldman Sachs International Bank, JPMorgan Chase Bank, SoftBank, Thomson Locations: Queens, New York City, U.S, Bengaluru

☆ One dead, multiple others believed missing in Alaska landslide
▼ + stars: | 2023-11-21 | by ( Steve Gorman | ) www.reuters.com time to read: +2 min

Nov 21 (Reuters) - At least one person has been killed and multiple others were believed to be missing in a major landslide along the principal roadway serving an island community in Southeast Alaska, state officials said on Tuesday. "Multiple individuals are believed to have been within the slide area when the landslide occurred and are believed to be missing," the statement said. Alaska state police assumed command of the search-and-rescue effort, but ground-level search operations were suspended while geologists assessed the risk of additional landslide activity in the area, the public safety agency said. Wrangell is linked to the mainland and other towns in Southeast Alaska by ferry and airplane. Its principal road is the Zimovia Highway, which runs along the west side of the island for 14 miles.

Persons: Steve Gorman, Sandra Maler Organizations: Public Safety Department, Emergency, Elias, Thomson Locations: Southeast Alaska, Wrangell , Alaska, Juneau, Alaska, Wrangell, Alaska Panhandle, St, Los Angeles

☆ US appeals court to consider Trump gag order in election subversion case
▼ + stars: | 2023-11-20 | by ( Mike Scarcella | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +2 min

[1/2] Former U.S. President Donald Trump attends the Trump Organization civil fraud trial, in New York State Supreme Court in the Manhattan borough of New York City, U.S., October 25, 2023. Trump, the frontrunner for the 2024 Republican presidential nomination, has criticized the gag order as a constraint on his free speech rights as he mounts a White House comeback bid. A similar restriction in a separate civil business fraud case in New York was temporarily lifted by a state appeals court judge last week. The gag order in the federal case allows Trump and his lawyers to criticize the Justice Department, but they are not allowed to target prosecutors, court staff and other potential witnesses. Trump has also pleaded not guilty in three other criminal cases, including a Georgia case that also charges him with conspiring to overturn the election.

Persons: Donald Trump, Dave Sanders, Donald Trump's, Tanya Chutkan, Trump, Democrat Joe Biden, Biden's, Jack Smith, Mike Scarcella, Andy Sullivan, Jonathan Oatis Organizations: U.S, Trump Organization, Court, Rights, House, Justice Department, Republican, Biden, Democrat, Thomson Locations: New York, Manhattan, New York City, U.S, Washington, Georgia

☆ U.S. to offer another round of free at-home Covid tests starting Monday
▼ + stars: | 2023-11-20 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

COVID-19 home test kits are pictured in a store window during the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 19, 2022. The Biden administration on Monday said it is offering another round of free at-home Covid tests to U.S. households ahead of the holiday season, when more people gather indoors and the virus typically spreads at higher levels. Starting Monday, Americans can use COVIDtests.gov to request four free tests per household. Those who have not ordered any tests this fall can now place two orders for a total of eight tests, according to the website. The administration in September allowed people to request an initial round of four free tests through the site, resuming a federal program that temporarily shut down during a political fight over Covid funding.

Persons: Biden Locations: Manhattan, New York City , New York, U.S

☆ Structural demand for US debt strong despite bond market volatility - Moody's
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsNov 20 (Reuters) - The structural demand for U.S. debt which underpins the dollar-based global financial system remains strong against the backdrop of recent Treasury market volatility, Moody's Investors Service said on Monday. The firm added U.S. financial regulators have undertaken a series of measures to improve Treasury market resilience and efficiency, and that it expects the market structure will continue to evolve. "Going forward, as the Fed reduces its Treasury holdings, foreign central banks, pension funds, insurance companies and households will be stabilizing factors in the market," Moody's said in a client note. Earlier this month, Moody's lowered its outlook on the U.S. credit rating to "negative" from "stable" citing large fiscal deficits and a decline in debt affordability. Treasury yields have soared this year on expectations the Federal Reserve will keep monetary policy tight, as well as on U.S.-focused fiscal concerns.

Persons: Carlo Allegri, Moody's, Manya Saini, Shounak Dasgupta Organizations: New York Stock, REUTERS, Moody's Investors, Treasury, Reserve, Thomson Locations: Manhattan, New York City , New York, U.S, Bengaluru

☆ Microsoft emerges as big winner from OpenAI turmoil with Altman on board
▼ + stars: | 2023-11-20 | by ( Aditya Soni | ) www.reuters.com time to read: +3 min

That was nearly equal to the valuation OpenAI commanded in its last fundraise. "If Microsoft lost Altman, he could have gone to Amazon, Google, Apple, or a host of other tech companies," said Wedbush Securities analyst Dan Ives. We view Microsoft now even in a stronger position with Altman and Brockman at Microsoft running AI. Altman will lead a new research team at the software giant following his surprise ouster by OpenAI that shocked the tech industry. "The OpenAI for-profit subsidiary was about to conduct a secondary at a $80 billion+ valuation.

Persons: Satya Narayana Nadella, Lucas Jackson, Sam Altman, Altman, Dan Ives, Brockman, OpenAI, Greg Brockman, Szymon Sidor, SemiAnalysis, Mira Murati, Aditya Soni, Akash Sriram, Sriraj Organizations: Microsoft, REUTERS, Google, Wedbush Securities, Thomson Locations: Manhattan, New York City, OpenAI, Bengaluru

☆ US appeals court ruling strikes at core of landmark voting rights law
▼ + stars: | 2023-11-20 | by ( Joseph Ax | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +2 min

The ruling, which will likely be appealed, could set up the next voting rights battle at the U.S. Supreme Court. The vast majority of Voting Rights Act cases are filed by private parties. For instance, the case that prompted the Supreme Court earlier this year to strike down Alabama's congressional map was originally filed by a coalition of civil rights groups. In a dissent, Chief Judge Lavenski Smith, also a Bush appointee, said he would have followed existing precedent unless Congress or the Supreme Court said otherwise. Sophia Lin Lakin, the director of the American Civil Liberties Union's voting rights project and a lawyer for the plaintiffs, in a statement called the ruling a "travesty for democracy."

Persons: Shannon Stapleton, District Judge Lee Rudofsky, Donald Trump, David Stras, Raymond Gruender, George W, Bush, Judge Lavenski Smith, Sophia Lin Lakin, Joseph Ax, David Gregorio, Mark Porter Organizations: REUTERS, Firms American Civil Liberties, ., U.S, Supreme, District, Appeals, Trump, Circuit, Republican, American Civil Liberties, Thomson Locations: Queens, New York City, U.S, Arkansas

☆ Microsoft emerges as big winner from OpenAI turmoil
▼ + stars: | 2023-11-20 | by ( Aditya Soni | ) www.reuters.com time to read: +3 min

[1/2] Microsoft Chief Executive Officer (CEO) Satya Narayana Nadella speaks at a live Microsoft event in the Manhattan borough of New York City, October 26, 2016. The turmoil at OpenAI since Friday had raised fears about the fallout for Microsoft, which has pumped in billions of dollars and uses the pioneer's technology for most of its AI offerings. That was nearly equal to the valuation OpenAI commanded in its last fundraise. We view Microsoft now even in a stronger position with Altman and Brockman at Microsoft running AI. "The OpenAI for-profit subsidiary was about to conduct a secondary at a $80 billion+ valuation.

☆ Trump vows to kill Asia trade deal being pursued by Biden if elected
▼ + stars: | 2023-11-19 | by ( Nathan Layne | ) www.reuters.com time to read: +2 min

Speaking to supporters in Iowa, Trump said he was against the regional trade deal being negotiated by the Biden administration with 13 other countries, arguing that it would hollow out U.S. manufacturing and trigger job losses. Trump, who withdrew from the Trans-Pacific Partnership (TPP) trade deal that had been forged with many of the same countries after taking office in January 2017, said he would "knock out" what he referred to as "TPP Two" immediately upon taking office. The Biden administration had hoped to finish key chapters of its IPEF trade initiative in time for this week's Asia-Pacific Economic Cooperation (APEC) meeting. It has vowed to continue negotiating the ambitious deal, but election-year pressures and resistance to tough commitments from some countries make a deal unlikely, trade experts and business groups say. Reporting by Nathan Layne in Fort Dodge, Iowa; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Donald Trump, Shannon Stapleton, Joe Biden, Trump, Biden, Nathan Layne, Chizu Organizations: U.S, Trump Organization, Court, REUTERS, Republican, Economic, Pacific, Economic Cooperation, Thomson Locations: New York, Manhattan, New York City, U.S, DODGE , Iowa, Pacific, Iowa, Vietnam, Indonesia, Fort Dodge, Des Moines, Asia, Fort Dodge , Iowa

☆ Colorado judge finds Trump engaged in 'insurrection' but allows him on ballot
▼ + stars: | 2023-11-18 | by ( Andrew Goudsward | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +3 min

Former U.S. President Donald Trump attends the Trump Organization civil fraud trial, in New York State Supreme Court in the Manhattan borough of New York City, U.S., October 25, 2023. The judge found that, as president, Trump was not "an officer of the United States" that could be disqualified under the amendment. She found that Trump "engaged in an insurrection on Jan. 6, 2021 through incitement." "The court's decision affirms what our clients alleged in this lawsuit: that Donald Trump engaged in insurrection based on his role in January 6th," Bookbinder said in a statement. The Colorado decision can be appealed to the state's supreme court and eventually the U.S. Supreme Court, whose 6-3 conservative majority includes three Trump appointees.

Persons: Donald Trump, Dave Sanders, Sarah Wallace, Trump, Donald J, Steven Cheung, Trump's, Noah Bookbinder, Bookbinder, Andrew Goudsward, Scott Malone, Daniel Wallis, Rosalba O'Brien Organizations: U.S, Trump Organization, Court, Rights, Capitol, Trump, U.S . Capitol, Republican, Democratic, Supreme, Thomson Locations: New York, Manhattan, New York City, U.S, Colorado, U.S ., United States, Washington, Minnesota, Michigan

☆ How a Political Insider Spends Her Sundays
▼ + stars: | 2023-11-18 | by ( Jackie Cooperman | ) www.nytimes.com time to read: +1 min

Tricia Shimamura spends her days crisscrossing the city as the director of community affairs for Mark Levine, the Manhattan borough president. It’s a mission that resonates deeply with Ms. Shimamura, 34, who ran for City Council on the Upper East Side in 2021. She sits on the boards of several organizations that work with women to develop leadership skills and run for political office. On Sundays, Ms. Shimamura combines family time with community work, an exhausting and edifying balance. She lives with her husband, Dov Gibor, 44, who is a lawyer, and their two sons, Teddy, 4, and Oliver, 1.

Persons: Tricia Shimamura, Mark Levine, Shimamura, Carolyn Maloney —, Dov Gibor, Teddy, Oliver Organizations: City Council, Democratic, Columbia Locations: Manhattan, It’s, Puerto Rican, New York

☆ The key to fighting the urban doom loop might be a downtown beach
▼ + stars: | 2023-11-18 | by ( Eliza Relman | ) www.businessinsider.com time to read: +10 min

Urban rivers, lakes, and parks can also be the key to making cities more resilient to climate change. The 1,200 tons of sand near Greenwich Village along the Hudson river would have to do. But there's no public pool nearby, and no sanctioned river swim spots in the city. The sandy bluff on Gansevoort peninsula is part of the much larger Hudson River park and looks out over Little Island, a whimsical, highly instagrammable transformation of Pier 55. Seattle has torn down an elevated freeway downtown to make way for a waterfront park.

Persons: Mia Olis, Olis, they'll, Amanda Weinstein, Hudson, Karin Balow, Eliza Relman, Bill O'Leary, Trey Sherard, It's, vVJ9elwcss, Sherard, Charles, satchel, Paris, Anne Hidalgo, he's Organizations: Service, University of Akron, Hudson, Inwood, New, Battery, Park, DC, Navy, Nationals, Anacostia, Prince, AFP, Agency, Army Corps of Engineers, Yacht Locations: Chelsea, Hawaii, Greenwich Village, Harlem, New York, Rivers, Upper Manhattan, Manhattan, Jersey City, New York City, Hudson, Little, Manhattan's, Brooklyn, Domino, Queens, Governor's, . Cleveland , Ohio, Lake Erie, Cuyahoga, . Seattle, Potomac, Anacostia, Washington , DC, Prince George's County , Maryland, Rio de Janeiro, Brazil, Iraja, Black, Boston, Switzerland's, Zurich, Lake Zurich, Bern, who's, American

☆ Sean 'Diddy' Combs accused of sex trafficking, rape of singer Cassie
▼ + stars: | 2023-11-17 | by ( Steve Gorman | ) www.reuters.com time to read: +3 min

Sean Combs arrives at the Metropolitan Museum of Art Costume Institute Gala (Met Gala) to celebrate the opening of “Heavenly Bodies: Fashion and the Catholic Imagination” in the Manhattan borough of New York, U.S., May 7, 2018. Ventura, 37, alleges that Combs raped her near the end of their relationship in 2018 when she broached the idea of leaving him. Combs' lawyer, Ben Brafman, issued a statement saying his client "vehemently denies these offensive and outrageous allegations." The lawsuit filed Thursday depicted Combs, who has formerly gone by such monikers as P. Diddy, Puff Daddy and Diddy, as an erratic, controlling individual with violent tendencies aimed at Ventura and others. The lawsuit cites violations of sex trafficking and human trafficking statutes under federal, New York and California laws.

Persons: Sean Combs, Eduardo Munoz, Cassandra Ventura, Sean, Diddy, Combs, Ventura, Cassie, Ben Brafman, Brafman, Sean John, Kid Cudi, Steven Tyler, Aerosmith, L.A, Reid, Neil Portnow, Steve Gorman, Deepa Babington Organizations: Metropolitan Museum of Art, REUTERS, Ventura, Bad Boy Records, Forbes, Recording Academy, Thomson Locations: Manhattan, New York, U.S, Ventura, Ventura ., California, Los Angeles

☆ Macy's shares surge on smaller-than-expected sales drop, improved margins
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

Shoppers are seen outside Macy's in the Manhattan borough of New York City, New York, U.S., March 30, 2021. REUTERS/Caitlin Ochs Acquire Licensing RightsNov 16 (Reuters) - Macy's (M.N) on Thursday reported an improvement in margins and a lower-than-expected drop in quarterly sales, sending its shares 10% higher in premarket trading. The Bloomingdale parent said its gross margins improved 160 basis points in the third quarter due to lower markdowns within the Macy’s brand, as well as easing freight charges. The U.S. department store operator's net sales fell 7.1% to $4.86 billion in the third quarter ended Oct. 28, while analysts' had estimated a 7.9% drop to $4.82 billion, according to LSEG data. The company logged an adjusted net income of $59 million, or 21 cents per share, from $143 million, or 52 cents per share last year.

Persons: Caitlin Ochs, Savyata Mishra, Sriraj Organizations: REUTERS, Bloomingdale, Thomson Locations: Manhattan, New York City , New York, U.S, Bengaluru

The coordinated raids were the first public sign of a broad corruption investigation into the mayor’s 2021 campaign. and federal prosecutors in Manhattan are examining whether the Turkish government conspired with Mr. Adams’s campaign to funnel foreign donations into campaign coffers and whether Mr. Adams pressured Fire Department officials to sign off on a new high-rise Turkish consulate despite safety concerns. Both Ms. Abbasova and Mr. Öcal have ties to Turkey. She was Mr. Adams’s longtime liaison to the Turkish community when he served as Brooklyn borough president; he was the general manager of the New York office of Turkish Airlines until early last year. Ms. Abbasova, Mr. Öcal, Ms. Suggs and Mr. Adams have not been accused of wrongdoing.

Persons: Eric Adams’s, Brianna Suggs, Rana Abbasova, Cenk, Adams, Abbasova, Öcal, Adams’s, Suggs Organizations: Turkish Airlines, Fire Department, New Locations: Turkey, New Jersey, Manhattan, Turkish, Brooklyn, New York

☆ Judge lifts Trump gag order in $250 million New York business fraud case
▼ + stars: | 2023-11-16 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

A New York judge on Thursday temporarily suspended a gag order barring former President Donald Trump from commenting on court staff in his $250 million civil business fraud trial. She seeks $250 million in damages and wants to permanently bar Trump Sr., Donald Trump Jr. and Eric Trump from running a New York business. Trump has already violated the narrow gag order twice, catching a total of $15,000 in fines. That gag order barred Trump from making statements targeting the prosecutors, likely witnesses and court staff in the case. A federal appeals court temporarily paused the D.C. gag order earlier this month.

Persons: Donald Trump, Judge Arthur F, David Friedman, Letitia James, James, Arthur Engoron, Trump, Christopher Kise, Kise, Donald Trump Jr, Eric Trump, Engoron Organizations: U.S, Trump Organization, Court, New, Appellate, Department, Trump, CNBC, Washington , D.C Locations: New York, Manhattan, New York City, U.S, York, New, Washington ,

☆ Macy's smashes profit estimates as leaner inventory lifts margins, shares jump
▼ + stars: | 2023-11-16 | by ( Savyata Mishra | ) www.reuters.com time to read: +2 min

Shoppers are seen outside Macy's in the Manhattan borough of New York City, New York, U.S., March 30, 2021. REUTERS/Caitlin Ochs Acquire Licensing RightsNov 16 (Reuters) - Macy's (M.N) crushed analysts' estimates for quarterly profit on lower inventories and strong demand for beauty products, sending the department store operator's shares surging as much as 14% on Thursday. "(We are) entering the holiday period in a healthy inventory position," Macy's outgoing CEO Jeff Gennette said in a statement. Gross margins improved 160 basis points in the third quarter, driven by a 110 basis points jump in merchandise margins, bolstered by lower markdowns within the Macy's brand and reduced freight costs. Credit card revenues again declined, down 100 basis points year-on-year, indicating its core middle-income consumer faced difficulty in repaying debts as interest rates climbed.

Persons: Caitlin Ochs, Jeff Gennette, Tony Spring, Rachel Wolff, Macy's, Savyata Mishra, Sriraj Organizations: REUTERS, Bloomingdale, Target, Walmart, Insider, Thomson Locations: Manhattan, New York City , New York, U.S, Bengaluru

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsNEW YORK, Nov 16 (Reuters) - U.S. bank profits are expected to shrink in the coming months, but the industry has regained its footing after the biggest bank failures since the 2008 financial crisis, analysts said. "Nobody wants to own a lot of bank stocks, whether it's large cap, mid cap, ahead of a credit crunch, ahead of a recession." Michaud, CEO of KBW:"There are a lot of healthier banks, I think, that would look to acquire the banks that have low credit performance. Reporting by Lananh Nguyen, Nupur Anand and Pete Schroeder in New York Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Allegri, Thomas Michaud, Keefe, Erika Najarian, Morgan Stanley, We're, Eugene Ludwig, Ludwig, Mitch Eitel, Sullivan, Cromwell, " Michaud, Lananh Nguyen, Nupur Anand, Pete Schroeder, Mark Potter Organizations: New York Stock, REUTERS, delinquencies, UBS, Ludwig Advisors, Federal Deposit Insurance Corp, Thomson Locations: Manhattan, New York City , New York, U.S, New York

Former U.S. President Donald Trump attends the Trump Organization civil fraud trial, in New York State Supreme Court in the Manhattan borough of New York City, U.S., October 25, 2023. In a statement responding to the motion, a spokesperson for New York Attorney General Letitia James said Trump was trying to distract from his "fraud." It is highly unlikely that Engoron will declare a mistrial, given his earlier fraud findings and defense of his law clerk's conduct. Trump took the stand in the case last week, defending his business practices and calling the case "election interference." The case is among the many legal woes facing Trump as he campaigns for the presidency.

Persons: Donald Trump, Dave Sanders, Donald Trump's, Arthur Engoron, Engoron, Trump, Letitia James, Chuck Schumer, Christopher Kise, clerk's, Luc Cohen, Nick Zieminski Organizations: U.S, Trump Organization, Court, REUTERS, Wednesday, Trump, New York, Democrat, Democratic, Thomson Locations: New York, Manhattan, New York City, U.S, New York State

☆ US House: Court fights could tip control in 2024
▼ + stars: | 2023-11-14 | by ( Joseph Ax | ) www.reuters.com time to read: +8 min

The state's highest court, the Court of Appeals, will hear arguments this week over whether to order a new map for 2024, as Democrats have asked, or to maintain the current map, as Republicans have argued. The new map was made possible by the state Supreme Court, after two conservative judges won election in 2022. The court's previous Democratic majority had thrown out a Republican map as an illegal gerrymander. UTAH: DEMOCRATS COULD GAIN ONE SEATThe state Supreme Court is weighing whether a Republican-drawn map that divided Democratic-leaning Salt Lake County into four districts violated the state constitution. The Republican state party has appealed.

Persons: Shannon Stapleton, Ron DeSantis, Al Lawson, Steve Jones, Brian Kemp, Jim Cooper, Joseph Ax, Jason Lange, Scott Malone, Jonathan Oatis Organizations: REUTERS, U.S . House, Representatives, Census, Democrats, Democratic, House, SEAT, Republican, Black Democrat, District, Black, U.S, Supreme, NORTH CAROLINA, REPUBLICANS, SOUTH CAROLINA, South, voters, NEW, SEAT Republicans, SEAT Civil, U.S . Department of Justice, Thomson Locations: Queens, New York City, U.S, Alabama, New York, FLORIDA, Florida, Black, GEORGIA, LOUISIANA, ALABAMA, UTAH, Salt Lake County, NEW MEXICO, TENNESSEE, Nashville's, TEXAS

☆ Trump's Truth Social reports $73 mln net loss since launch
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

Dave Sanders/Pool via REUTERS//File Photo Acquire Licensing RightsNov 13 (Reuters) - Former U.S. President Donald Trump's social media platform Truth Social has lost $73 million since its launch in early 2022, a securities filing by Digital World Acquisition Corp (DWAC.O), the SPAC that plans to merge with the company, showed on Monday. Trump had announced the launch of his social media app in Oct 2021, saying it would "stand up to Big Tech" companies such as Twitter and Facebook that previously barred him. In 2022, Truth Social posted a loss of $50 million, with net sales of just $1.4 million. It lost $23 million in the first half of this year, with net sales of $2.3 million. Trump Media & Technology Group's (TMTG) independent registered public accounting firm has indicated that the financial condition raises substantial doubt as to its ability to continue as a going concern, according to the filing.

Persons: Donald Trump, Dave Sanders, Donald Trump's, Trump, TMTG, Maria Ponnezhath, Nivedita Organizations: U.S, Trump Organization, Court, REUTERS, Former U.S, World, Big Tech, Twitter, Facebook, Trump Media & Technology, Digital, Thomson Locations: New York, Manhattan, New York City, U.S, Former, Bengaluru

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