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☆ 'We're one gust of wind away from recession': A JPMorgan global strategy chief shares why the economy is still at risk despite rising optimism — and 3 places he's bullish on now
▼ + stars: | 2023-09-01 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

"We're one gust of wind away from recession," Kelly said. While he hasn't seen any cracks in that industry recently, he's wary of dismissing that as a risk, especially if interest rates climb further. The smartest investments to make now are in Europe, Japan, and emerging markets excluding China, Kelly said. But emerging markets are where many of the most tantalizing opportunities are, in Kelly's opinion. An exception within emerging markets is China.

Persons: JPMorgan's David Kelly, Kelly, David Kelly, Kelly inched, It's, hasn't, homebuilding, it's, he's Organizations: Asset Management, Fed, Federal, JPMorgan Asset Management, 19.9x, Japan's Nikkei Locations: Europe, Japan, China

☆ Dominic Pezzola: Proud Boy who smashed Capitol window on January 6 sentenced to 10 years
▼ + stars: | 2023-09-01 | by ( Hannah Rabinowitz | Holmes Lybrand | ) edition.cnn.com time to read: +4 min

Images of Dominic Pezzola, nicknamed “Spazzolini,” using the police riot shield to first breach the Capitol building quickly became a symbol of the violence that day. “The reality is you were the one who did it,” District Judge Timothy Kelly said during the hearing Friday. “You were the one who smashed that window in and let people begin to stream into the Capitol building and threaten the lives of our lawmakers. Pezzola was the only one of the five Proud Boys defendants not convicted of seditious conspiracy. Two of Pezzola’s codefendants, Joseph Biggs and Zachary Rehl, were sentenced Thursday to 17 and 15 years in prison respectively.

Persons: Dominic Pezzola, “ Spazzolini, Timothy Kelly, “, “ Trump, ”, Kelly –, –, Pezzola, codefendants, Joseph Biggs, Zachary Rehl, Pezzola’s, Mark, Erik Kenerson, trepidation ”, ” Pezzola, Lisa, Kelly, Angelina, sobbed Organizations: CNN, Capitol, Boys Locations: New York

☆ Judge sentences ex-Proud Boys leaders to 17 and 15-year terms for US Capitol attack
▼ + stars: | 2023-08-31 | by ( Sarah N. Lynch | Thomson Reuters | Sarah N. Lynch Is The Lead Reporter For Reuters Covering The U.S. Justice Department Out Of Washington | ) www.reuters.com time to read: +5 min

In one of the debates during his 2020 presidential campaign, Trump famously told the Proud Boys to "stand back and stand by" when he was asked by the moderator to denounce white supremacists. [1/2]A mob of supporters of U.S. President Donald Trump storm the U.S. Capitol Building in Washington, U.S., January 6, 2021. They are requesting a 20-year term for Pezzola, who was acquitted of seditious conspiracy, but convicted of other serious felonies. The sentences he imposed, while far lower than what the government requested, still represent among the most stringent to date in connection with the Capitol attack. It is one of four indictments now facing Trump, as the 2024 campaign is about to kick into high gear.

Persons: Joseph Biggs, Zachary Rehl, Donald Trump's, Timothy Kelly, Biggs, Rehl, Kelly, Jan, ”, “ I’m, ” Rehl, “, Joe Biden's, Trump, Jason McCullough, ” Trump, Biden, Donald Trump, Leah Millis, Ethan Nordean, Dominic Pezzola, Enrique Tarrio, Rehls, Stewart Rhodes, Jack Smith, Stormy Daniels, Sarah N, Lynch, Scott Malone, Mark Porter, Grant McCool Organizations: Boys, U.S, Capitol, Prosecutors, Democratic, Republican, REUTERS, Trump, Thomson Locations: Washington , U.S, Georgia, Florida, New York

☆ Judge sentences ex-Proud Boys leader Biggs to 17 years over US Capitol attack
▼ + stars: | 2023-08-31 | by ( Sarah N. Lynch | Thomson Reuters | Sarah N. Lynch Is The Lead Reporter For Reuters Covering The U.S. Justice Department Out Of Washington | ) www.reuters.com time to read: +5 min

[1/2] A mob of supporters of U.S. President Donald Trump storm the U.S. Capitol Building in Washington, U.S., January 6, 2021. Ahead of his sentencing, Biggs apologized for his actions as he faced Kelly, choking up as he spoke about his daughter whom he said was a sexual assault victim who needs him. Together, Biggs and Rehl will become the first Proud Boys convicted of seditious conspiracy to be sentenced for their roles in the Jan. 6, 2021, attack. Norm Pattis, an attorney for both Biggs and Rehl, asked Kelly to sentence his clients to a term that is below U.S. sentencing guidelines. In May, a jury convicted Biggs, Rehl, Tarrio and Nordean of seditious conspiracy, a Civil War-era law that makes it a crime to conspire to oppose the government by force, and other felonies.

Persons: Donald Trump, Leah Millis, Joseph Biggs, Donald Trump's, Timothy Kelly, Kelly, Jan, Biggs, “, ”, “ I’m, Zachary Rehl, Rehl, Stewart Rhodes, Jason McCullough, Enrique Tarrio, Ethan Nordean, Joe Biden's, Trump, Biden, Jack Smith, Norm Pattis, Pattis, Dominic Pezzola, Pezzola, Sarah N, Lynch, Scott Malone, Mark Porter Organizations: U.S, Capitol, REUTERS, Rights, Democratic, Republican, Prosecutors, Thomson Locations: Washington , U.S

☆ Proud Boys leader Joe Biggs sentenced to 17 years in January 6 case
▼ + stars: | 2023-08-31 | by ( Hannah Rabinowitz | ) edition.cnn.com time to read: +5 min

Joe Biggs was convicted by a Washington, DC jury of several charges including seditious conspiracy for attempting to forcibly prevent the peaceful transfer of power from then-President Donald Trump to Joe Biden after the 2020 election. “People around the world would give anything for these rights.”But January 6, 2021, Kelly said, “broke our tradition of the peaceful transferring of power” in the United States. The hefty sentence is the second longest sentence handed down for a defendant convicted as part of the Capitol attack. Oath Keeper leader and founder Stewart Rhodes has received the longest sentence of 18 years in prison. Four of the defendants, Biggs, Tarrio, Nordean and Rehl, were convicted of seditious conspiracy, while Pezzola was acquitted of that charge.

Persons: Joe Biggs, Donald Trump, Joe Biden, Timothy Kelly, Kelly, “, ”, Prosecutors, Biggs, –, Stewart Rhodes, Ethan Nordean, Zachary Rehl, Enrique Tarrio –, Nordean, Rehl, Dominic Pezzola –, Tarrio, Pezzola, ” Biggs, Jason McCullough, ” McCullough Organizations: CNN, Capitol, The Locations: Washington, ”, United States

☆ Billionaire CEOs said working from home made them happier. Some now want to fire workers who don't show up to the office.
▼ + stars: | 2023-08-28 | by ( Polly Thompson | ) www.businessinsider.com time to read: +14 min

AdvertisementAdvertisementThe Meta CEO told staff they could expect him to spend half of the next year working remotely. True to his word, in his first week Musk banned remote work in a 2:30 a.m email to Twitter staff. Still: Unlike some of the other wealthy CEOs on this list, Eric Yuan has always been a little skeptical of permanent remote work. Roy RochlinSalesforce CEO Marc Benioff was initially outspoken in his support for remote working. Joining the growing list of CEOs that say remote work is not conducive to productivity, Salesforce revised its work-from-anywhere strategy.

Persons: Mark Zuckerberg, Goldman Sachs, Prithwiraj Choudhury, Zuckerberg, Meta, I've, Erin Scott, Skip, Insider's Kali Hays, Hugh Langley, Evan Spiegel, Miranda Kerr, Pierre Mouton, Stringer, Spiegel, I'm, ERIC PIERMONT, Kali Hays, Jack Dorsey, PRAKASH SINGH, lockdowns, Dorsey, Elon Musk, Musk, Zoe Schiffer, hasn't, Eric Yuan, Kena, Zoom, Kelly Steckelberg, Yuan, Marc Benioff, Roy Rochlin, Salesforce, Benioff, Justin Sullivan, Kara Swisher Organizations: Service, Meta, Harvard Business School, Wall Street, Staff, CNBC, Getty, Twitter, San, New, Elon, San Francisco, Bloomberg, Zoom, Workers, MarketWatch, Smith, Yahoo Finance, Insider Locations: Wall, Silicon, San Francisco, Singapore, Silicon Valley , California

☆ As the IPO market comes back to life, Navan (formerly TripActions) is targeting an April 2024 listing
▼ + stars: | 2023-08-25 | by ( Ben Bergman | ) www.businessinsider.com time to read: +2 min

The company is now targeting a late April 2024 IPO, Insider has learned. Navan, formerly known as TripActions, is now targeting a late April 2024 IPO, according to a person with direct knowledge of the matter not authorized to speak publicly. However, this month the nearly two year dormant IPO market has finally shown signs of coming to life. Andreessen Horowitz first invested in TripActions in 2018, when it led the company's series C funding round at a $1.1 billion valuation and general partner Ben Horowitz joined the board. Navan has raised more than $2 billion in equity and debt financing since it was founded 2015, according to Pitchbook.

Persons: Ariel Cohen, Kelly Soderlund, Instacart, Goldman Sachs, Andreessen Horowitz, Ben Horowitz, It's, " Horowitz Organizations: Navan, NASDAQ, Bloomberg, Softbank, Lightspeed Venture Partners, Coatue Management, Zeev Ventures Locations: Navan, Caplight, TripActions

☆ Flash flooding at Washington DC's District Dogs Northeast leaves 10 pets dead
▼ + stars: | 2023-08-24 | by ( Christina Zdanowicz | ) edition.cnn.com time to read: +7 min

Severe storms with heavy rains the evening of August 14 brought a flash flood to the doors of District Dogs Northeast. Ten dogs, including Maple, Malee and Zeni, died in the flooding, WJLA reported. A first responder carries out a dog from District Dogs Northeast in Washington DC. A few days into the trip, they noticed a missed call and later received a text from District Dogs asking them to call back. Garro said Hensley told him there was flooding, some dogs died and “your dog was one of them.” Hensley told him.

Persons: Zeni, John Donnelly, Heather McGaffin, ” McGaffin, Colleen Costello, she’s, “, ” Costello, Maple, Costello, didn’t, Luer Yin, Connor McCarty, ”, McCarty, ” Yin, Jacob Hensley, ” McCarty, Connor McCarty Hensley, ” Hensley, Hensley, Jonathan Garro, mutt, Malee, Garro, Kerry, ” Garro, Yin, Hensley – they’ve, “ It’s, I’m, “ I’m, it’s, Maple’s Organizations: CNN, Washington DC, DC, WJLA, of Unified Communications, District Dogs, WUSA, Dogs, Corgi Locations: Zeni, District, Washington, Hawaii, ”

☆ Sam Bankman-Fried does not have access to Adderall in custody and subsists on a diet of peanut butter sandwiches and water, his attorney alleges
▼ + stars: | 2023-08-23 | by ( Azmi Haroun | ) www.businessinsider.com time to read: +3 min

He's been living off of bread, water, and peanut butter, according to NBC News. AdvertisementAdvertisementSam Bankman-Fried's attorney claimed the disgraced crypto mogul is living off of scraps in custody because his requests for a vegan diet have been ignored. According to a commissary list for the prison, Bankman-Fried has been able to purchase two peanut butter and jelly sandwiches per visit, costing $3.65 per sandwich. AdvertisementAdvertisementBefore he was remanded to prison in the US this year, Bankman-Fried previously said that he mainly ate peanut butter while incarcerated in the Bahamas. Bankman-Fried's attorney didn't immediately respond to Insider's request for comment.

Persons: Sam Bankman, He's, Mark Cohen, Fried, Sarah Netburn, FTX, Caroline Ellison's, Ellison, Bankman, didn't Organizations: NBC News, Morning, Metropolitan Detention, NBC, Alameda Research, MDC, Alameda Locations: Brooklyn, Bahamas, Bankman

☆ Zoom CFO Kelly Steckelberg on Q2 earnings, return to work policy
▼ + stars: | 2023-08-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailZoom CFO Kelly Steckelberg on Q2 earnings, return to work policyZoom CFO Kelly Steckelberg joins 'Squawk Box' to discuss the company's quarterly earnings results, which beat on top and bottom lines and raised its full-year guidance, return to work policy, and more.

Persons: Kelly Steckelberg

☆ Zoom forecasts current-quarter profit above estimates on strong enterprise demand
▼ + stars: | 2023-08-21 | by ( Jaspreet Singh | ) www.reuters.com time to read: +2 min

The Zoom Video Communications logo is pictured at the NASDAQ MarketSite in New York, New York, U.S., April 18, 2019. Zoom expects third-quarter revenue between $1.115 billion and $1.120 billion for the quarter, compared with analysts' average estimate of $1.13 billion, according to Refinitiv data. Excluding items, the company posted second-quarter profit of $1.34 per share, compared with target estimate of $1.05. Second-quarter enterprise revenue of the company rose 10.2% to $659.5 million. Zoom raised its annual revenue forecast to between $4.49 billion and $4.50 billion, compared with its earlier forecast of between $4.47 billion and $4.49 billion.

Persons: Carlo Allegri, Needham, Ryan Koontz, Webex, Koontz, Kelly Steckelberg, Zoom, Jaspreet Singh, Krishna Chandra Organizations: NASDAQ, REUTERS, Communications, Wall, Revenue, Thomson Locations: New York , New York, U.S, San Jose , California, Bengaluru

☆ Zoom beats expectations and lifts full-year guidance on enterprise business strength
▼ + stars: | 2023-08-21 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

Here's how the company did:Earnings: $1.34 per share, adjusted, vs. $1.05 per share as expected by analysts, according to Refinitiv. $1.34 per share, adjusted, vs. $1.05 per share as expected by analysts, according to Refinitiv. Zoom's revenue grew 3.6% year over year in the quarter that ended on July 31, according to a statement. Three months ago Zoom said it was looking for $4.25 to $4.31 in adjusted earnings per share and $4.465 billion to $4.485 billion in revenue. Analysts polled by Refinitiv had predicted that Zoom would produce $4.30 in adjusted earnings per share and $4.49 billion in revenue.

Persons: Eric Yuan, Covid, Refinitiv, Kelly Steckelberg, Steckelberg Organizations: Nasdaq, Management Locations: New York, Refinitiv

But in Australia, relative newcomers to the game’s big leagues, the arrival of the world’s best women’s players has left old and new fans starry-eyed with possibility. Despite placing fourth – the team’s best finish at a World Cup – the ability of relative outsiders to make it that far has elevated Australia’s Matildas to hero status. Fans cheer Spain's victory while watching a live transmission of the FIFA Women's World Cup 2023 in Madrid. Australia fans celebrate at Melbourne's Federation Square after the Matildas scored the opening goal in their FIFA World Cup round-of-16 match against Denmark on August 7. It’s not just football, it’s different.”Spain's players celebrate with the trophy after winning the 2023 Women's World Cup.

Persons: Sydney CNN —, “, Luis Rubiales, Jennifer Hermoso, Gianni Infantino, ”, Matildas, Spain's, Denis Doyle, –, Australia’s, might’ve, Sam Kerr, Asanka Ratnayake, that’s, Matilda Karen Menzies –, there’s, Kerr, Australia's Sam Kerr, England's Keira Walsh, Ulrik Pedersen, they’ve, Andrea Ellis, ” Ellis, you’re, Sarai Bareman, Saeed Khan, Infantino, Joanna Lohman, Rubiales, Jorge Vilda, RFEF, Sisters, Simmi Nanduo, ” Louise Nussac, Vilda, Kelly Stroda, La, Hilary Whiteman, d’Or Féminin, Alexia Putellas Organizations: Sydney CNN, Sydney’s, FIFA, La Roja, Royal Spanish Football Federation, derisory, England, Sweden, Melbourne's, Denmark, Australia’s, UEFA European, Sunday’s, Women’s Football, FIFA Women’s Football Convention, Getty, United States Women’s National, “, Sky News, CNN, ”, World Locations: Australia, Europe, Madrid, England, Bromley ,, London, AFP, Texas, Spanish, Paris, France, Spain, La Roja

☆ Investors are betting that rate cuts are coming early next year. Here's what market experts are urging you do right now to cash in when rates do fall.
▼ + stars: | 2023-08-18 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

10-year Treasury yields are surging as the economy stays hot. For the first time since 2007, 10-year yields rose above 4.3% on Thursday after seeing a 31% surge since April. If or when that eventually happens, Treasury yields are likely to follow, presenting those who hold the assets with an opportunity. Bond yields fall when demand for the assets rise, pushing up their price. David Kelly, the chief global strategist at J.P. Morgan Asset Management, sees 10-year rates averaging 3.7% in the years ahead.

Persons: Gautam Khanna, Jason Draho, Lawrence Gillium, Craig Brothers, Brothers, Leslie Falconio, David Kelly, Kelly Organizations: Wall, Insight Investment, UBS Global Wealth, LPL, Bel Air Investment Advisors, Morgan Asset Management, Monopoly, Treasury Locations: Treasurys

☆ ‘Splash Spots’ Reinvent the Hydrant Spray Cap and Save Water
▼ + stars: | 2023-08-18 | by ( James Barron | More About James Barron | ) www.nytimes.com time to read: +1 min

He and an industrial designer named Colin Kelly came up with four prototypes called Splash Spots that have eye appeal. The Fire Department worries about low water pressure when hydrants are open, a potentially serious problem when a call comes in and fire trucks go out. Sprinkler caps, which firehouses can make available on request, cut the flow to 25 to 30 gallons a minute, by Kelly’s calculations. Splash Spots send out about half that, and unlike the Fire Department’s sprinkler caps, they can be turned on and off, saving even more when a sprinkler is not needed. “I was out for a run over the July 4 weekend, and I passed a street with a hydrant with a spray cap,” Gordon said.

Persons: Colin Kelly, ”, Jeffrey LeFrancois, Kelly, ” Gordon Organizations: Chelsea, Management Association, Fire Department Foundation, Department Locations: Meatpacking

So far, at least 111 deaths have been confirmed in the wildfires, according to a release from Maui County. Names of other victims have been released by familiesFirefight continues : Crews are still battling the fires on Maui. “The people that were trying to put out these fires lived in those homes – 25 of our firefighters lost their homes,” Maui County Mayor Richard Bissen said Wednesday. “They watched their homes burn as they fought the fire for other homes in their neighborhood,” she explained. “That is a scar that we will carry for a very long time.”Sarah Salmonese sits where her apartment once stood in Lahaina, Hawaii, on Friday, August 11.

Persons: John Pelletier, ” Pelletier, ”, Pelletier, Josh Green, CNN’s Wolf, “, Brenda Keau, ” Keau, Jeff Hickman, CNN’s Kaitlan Collins, ” Hickman, Melva Benjamin, Virginia Dofa, Alfredo Galinato, Robert Dyckman, Buddy Jantoc, Benjamin, Crews, Brad Ventura, ” Biden, Herman Andaya, would’ve, Matthew A, Foster, Richard Bissen, Aina Kohler, I’ve, Kohler, “ It’s, Jonny Varona, They’re, Wade Ebersole, it’s, who’s, ” Ebersole, ” Sarah Salmonese, Go Nakamura, Jae C, Patrick T, Fallon, Rick Bowmer, Justin Sullivan, Lauren Haley, Bryan Anselm, Makalea Ahhee, Yuki Iwamura, Mike Blake, Max Whittaker, Zoltan Balogh, Robert Gauthier, Mengshin Lin, Evelio Contreras, CNN Vixay Phonxaylinkham, Lana, Phonoxaylinkham, Marco Garcia, Claire Rush, Myrna Ah Hee, Sui, Ty O'Neil, Ku'u Kauanoe, ZUMA, Matthew Thayer, Bob Marshall, ” Marshall, Marshall, Jim Kelly, ” Kelly, ” Darren Pai Organizations: CNN, Maui Police, Authorities, Hawaii Gov, Hawaii Department of Defense, Fire, White House, Maui, Maui Emergency Management, Tuesday . U.S . Army National Guard, Staff, KITV, Maui Health, Maui Memorial Medical, New York Times, AP, FBI, Facility, Getty, AP Volunteers, Grace Baptist, Reuters, Volunteers, Los Angeles Times, Washington Post, Kahului Airport, Technologies, Kahului, AP Helicopters, Hawaii Army National Guard, Hawaii National Guard, Reuters Residents, ZUMA Passengers, Maui News, Whisker Labs, Maui Bird Conservation Center, The Washington, Hawaiian Electric, CNN Sunday Locations: Maui, Maui County, Hawaii, Lahaina, Tuesday ., ”, Lahaina , Hawaii, Wailuku, AFP, Kula , Hawaii, Kaanapali, Kula, Kihei, West Maui, Grace, Kahului, Napili, Honokowai, Honolulu, Maalaea, California, Las Vegas, Church, Lahaina Hongwanji, Makawao, Western Maui

☆ This biotech stock is a cancer-fighting 'powerhouse' with nearly 50% upside, says Jefferies
▼ + stars: | 2023-08-17 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Investors should keep an eye on biotech company BeiGene as it scales up its global revenue streams, according to Jefferies. Analyst Kelly Shi initiated coverage of the stock with a buy rating and assigned a price target of $287, suggesting shares stand to gain 49.2% in the next 12 months. The stock has lost 12% so far this year but has had a more uplifting quarter with gains of about 8%. According to the analyst, BeiGene's product pipeline could expand beyond oncology, as it currently includes early autoimmune candidates. BeiGene's tislelizumab drug is another major growth driver for the company, Shi said, highlighting the drug's position as China's top-selling PD-1 drug with about 40% market share.

Persons: Kelly Shi, Shi, BeiGene, BGNE, Amgen, — CNBC's Michael Bloom Organizations: Jefferies, pharma, Novartis Locations: Cambridge , Massachusetts, Beijing, China, BeiGene

By accepting an International Atomic Energy Agency (IAEA) report last month that greenlit Japan's Fukushima water release, Yoon could encourage fresh dissent that China will try to amplify, analysts say. On Monday, Park Gu-yeon, vice minister of government policy coordination at the prime minister's office, said both sides have made "substantial progress" on the water release issue. A senior South Korean official, speaking on condition of anonymity because of diplomatic sensitivity, said the government did not see it as a source of friction. "China absolutely will try to exploit Fukushima to drive a wedge between South Korea and Japan," said David Boling, a director at consulting firm Eurasia Group. In July, Chinese foreign ministry spokesman Wang Wenbin said Japan had shown selfishness and arrogance, and had not fully consulted the international community about the water release.

Persons: Rafael Mariano Grossi, Kobayakawa, Joe Biden, Yoon Suk Yeol, Fumio Kishida, Biden, David, Yoon, Japan Rahm Emanuel, Moon Jae, Christopher Johnstone, Antony Blinken, they've, David Boling, Joshua Kurlantzick, Wang Wenbin, Hirokazu Matsuno, Tim Kelly, Sakura Murakami, Hyonhee Shin, Josh Smith, David Brunnstrom, Trevor Hunnicutt, Ekaterina Golubkova, Lun Tian, Yoshifumi, Gerry Doyle Organizations: International Atomic Energy Agency, Tokyo Electric Power Co, Japanese, Reuters, U.S, IAEA, Biden's National Security Council, Center for Strategic, International Studies, Japan, South Korean, South, Gallup, Eurasia Group, Council, Foreign Relations, Global Times, Thomson Locations: Futaba, Japan, TOKYO, SEOUL, South Korea, Tokyo, China, Washington, East Asia, Taiwan, Beijing, Russia, North Korea, United States, Australia, Britain, Seoul, Seoul . U.S, Fukushima, Korean

☆ Sam Bankman-Fried is in jail and will only get to enjoy his favorite peanut butter and jelly sandwiches 4 times a month, at $3.65 each
▼ + stars: | 2023-08-15 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

The facility limits him to two peanut butter jelly sandwiches every two weeks. Embattled ex-FTX CEO Sam Bankman-Fried is going to miss having his peanut butter and jelly sandwiches in prison. For starters, he will be only limited to two peanut butter jelly sandwiches every two weeks while in prison. According to the commissary list, Bankman-Fried can only purchase two peanut butter and jelly sandwiches at $3.65 each per visit. That could be tough for Bankman-Fried, a vegan who said he subsisted on peanut butter when he was incarcerated in the Bahamas last year.

Persons: Sam Bankman, Fried, Lewis Kaplan, Cameron Lindsay, it's Organizations: Metropolitan Detention, Morning, US, New York Times, of Prisons, Bankman Locations: Brooklyn, Bahamas, Alameda

☆ MLB roundup: Max Scherzer, Rangers shut out Angels
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +6 min

[1/5] Aug 14, 2023; Arlington, Texas, USA; Texas Rangers starting pitcher Max Scherzer (31) pitches against the Los Angeles Angels in the fifth inning at Globe Life Field. Mandatory Credit: Tim Heitman-USA TODAY Sports/File photoAugust 15 - Max Scherzer allowed one hit over seven shutout innings as the Texas Rangers blanked the visiting Los Angeles Angels 12-0 on Monday night to open a three-game series. Marcus Semien hit a three-run homer and drove in five runs for the Rangers, who have won 11 of 13. Marlins 5, Astros 1Jorge Soler, Luis Arraez and Josh Bell hit home runs in consecutive eighth-inning at-bats as host Miami defeated Houston. Quinn Priester (2-2) gave up six runs on seven hits in five innings.

Persons: Max Scherzer, Tim Heitman, Marcus Semien, Adolis Garcia, Martinez, Patrick Sandoval, Dylan, Samad Taylor, Salvador Perez, Taylor, Julio Rodriguez, Brady Singer, Dominic Canzone, Singer, Jorge Soler, Luis Arraez, Josh Bell, Braxton Garrett, Framber Valdez, Grayson Rodriguez, Rodriguez, Gunnar Henderson, Ryan O'Hearn, Xander Bogaerts, Garrett Cooper, Ezequiel Tovar, Elehuris Montero, Matt Koch, Justin Lawrence, Christian Walker, Merrill Kelly, Kelly, Harold Ramirez, Curtis Mead, Christian Bethancourt, Tyler Glasnow, Yandy Diaz, Randy Arozarena, Jose Siri, Jacob Lopez, Tristan Beck, Daniel Vogelbach, Jonathan Arauz, Brandon Nimmo, Tyson Miller, Henry Davis, Ke'Bryan Hayes, Quinn Priester, Nicky Lopez, Lopez, Ozzie Albies, Albies, Jordan Walker's, Louis, Paul Goldschmidt, Esteury Ruiz, Seth Brown, Angel Felipe, JoJo Romero Organizations: Texas Rangers, Los Angeles Angels, Life, New York Mets, Rangers, Angels, Royals, Mariners, Kansas City, Seattle, Marlins, Astros, Miami, Houston, Orioles, Padres, Baltimore, Diamondbacks, Arizona, Rockies, Rays, Giants, Tampa Bay, San, Mets, Pirates, Pittsburgh, Braves, Yankees, Atlanta, Cardinals, Athletics, Oakland, Thomson Locations: Arlington , Texas, USA, Texas, Kansas, Seattle, San Diego, Colorado, Denver, San Francisco, New York

☆ Hawaiian Electric’s stock plunges again after S&P downgrades its credit rating
▼ + stars: | 2023-08-15 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —Hawaiian Electric Industries’ stock plummeted another 10% Tuesday after S&P Global downgraded the company’s credit rating to junk. In a statement, S&P Global said the wildfires have placed the company at a higher risk, and that it there is a potential for further credit downgrades. More lawsuits could arise, further jeopardizing the company’s credit rating depending on how successful the plaintiffs are. S&P said that the class action lawsuits could increase risk for the company and deteriorate its credit quality. S&P also placed HEI and its entities on CreditWatch with negative implications, which means the utility’s credit rating could be further downgraded in the near future.

Persons: ”, ” Moody’s, Moody’s, HEI “, Jim Kelly, ” Kelly, HEI, Josh Green Organizations: New, New York CNN, Hawaiian Electric Industries, P Global, Hawaiian Electric, Pacific Gas and, Electric, CNN, Hawaii Gov, HEI Locations: New York, California, Hawaii, Maui, Lahaina, Hawaii’s, HEI

Those winds also battered power lines on the island, and dramatic videos show lines swaying and being toppled in the gusts. Now, some locals are casting blame on Hawaiian Electric, the state’s biggest utility, for not shutting off power to high-risk areas – and claiming that its power lines could have sparked the deadly fire. State officials were well aware of the danger posed by downed power lines during hurricanes. A 2021 state report noted that “downed power lines” and “residential and wildland fires” were hazards related to hurricanes. Maui Mayor Richard Bissen said Thursday that power lines that were “still energized” had fallen on the roads.

Persons: Shane Treu, Treu, ” Treu, kindling, Lisa Treu, –, ”, “, Hurricane Dora, “ inexcusably, Jim Kelly, ” Kelly, Kelly, Richard Bissen, Yuri Iwamura, hydrants –, Cole Millington, Millington, Bradford Ventura, Adam Weintraub, ” Weintraub, Jill Tokuda, Keahi Ho, John Stufflebean, Josh Green, Anne Lopez, ” Green, “ It’s, Dora, Abby Frazier, Dora inched, Josh Stanbro Organizations: CNN, Hawaii Army National Guard, Hawaii National Guard, Reuters, Electric, National Weather Service, Hawaiian Electric Company, Public Utilities Commission, Hawaii Wildfire Management Organization, Maui, Volunteers, Getty, Facebook, Bradford, Hawaii Emergency Management Agency, Democrat, New York Times, Maui County Department of Water Supply, Times, Government, Hawaii Gov, Clark University Locations: Mauna, Lahaina, Maui, Hawaii, County, California, Paradise, West Maui, Maalaea, AFP, “, Maui County, United States, Massachusetts

☆ Maui wildfires: What we know about the deadliest US fire in over a century
▼ + stars: | 2023-08-14 | by ( Nouran Salahieh | ) edition.cnn.com time to read: +10 min

While firefighters have made progress against the three largest wildfires, the deadly fire in hard-hit Lahaina is still not fully under control, Maui County Fire Chief Brad Ventura said Saturday. Mike Blake/ReutersThe most destructive and deadly of the fires, the Lahaina wildfire, traveled at an extraordinary speed, the governor said in a video update Sunday afternoon. “When the winds rose up – winds gusting as high as 81 miles per hour – fires spread rapidly,” Green said. Lahaina is the hardest hit areaVideo Ad Feedback The Maui fires destroyed their homes. People are still missing and just 3% of area was searchedA caretaker photographs the site of a home destroyed by the Maui wildfires in Kula, Hawaii on Sunday.

Persons: CNN — Crews, what’s, Josh Green, “ It’s, Brad Ventura, Mike Blake, ” Green, “, Lori Moore, Merrell, Richard T, Bissen, Deanne Criswell, King Kamehameha III, Keith Hayashi, ” Hayashi, John Pelletier, Patrick T, Fallon, Pelletier, Mazie, Brittany Talley, Timm “ TK ” Williams, Williams, Talley, ” Talley, weren’t, we’ll, Anne Lopez, ”, Jim Kelly, ” Kelly Organizations: CNN, ”, Federal Emergency Management Agency, Maui County Fire, Maxar Technologies, FEMA, Sunday, Maui Police, National Fire Protection Association, People, Getty, Sen, Hawaiian Electric Industries, Hawaiian Electric Locations: Maui, ” Hawaii, Lahaina, Maui County, Kula, Hawaii, Lāhainā, Kula , Hawaii, AFP, Kaanapali

☆ Hawaiian Electric stock plunges 40% after lawsuit alleges it failed to shut power off ahead of the Maui wildfires
▼ + stars: | 2023-08-14 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +3 min

The suit alleges that Hawaiian Electric Industries “chose not to deenergize their power lines during the High Wind Watch and Red Flag Warning conditions for Maui before the Lahaina Fire started,” despite knowing the risks of sparking a fire in those conditions. The company and subsidiaries “also chose not to deenergize their power lines after they knew some poles and lines had fallen and were in contact with the vegetation or the ground,” the suit alleges. He added that Hawaiian Electric does not have a formal shut-off program in place, and precautionary shut-offs have to be arranged with first responders. Despite this, Hawaiian Electric (HE) did not enforce a public safety power shutoff, a temporary pause of service to certain areas due to increased fire risk. These included an $11 billion insurance settlement, as well as $1 billion paid to affected local governments.

Persons: ”, “, Jim Kelly, ” Kelly, CoreLogic, Josh Green, Hawaii’s, – CNN’s Andy Rose Organizations: New, New York CNN, Electric Industries “, Hawaiian Electric, CNN, Hawaii Gov, National Weather Service, Western Fire Chiefs Association, Electric, Pacific Gas and Locations: New York, Maui, Lahaina, Hawaii, Honolulu, California

☆ Morgan Stanley Wealth Management adds this stock to its model portfolio because of A.I. opportunity
▼ + stars: | 2023-08-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Chipmaker Advanced Micro Devices is an "emerging growth opportunity" in artificial intelligence, according to Morgan Stanley Wealth Management. Investment strategist Daniel Skelly said he added the chipmaker to the firm's equity model portfolio. He noted that AMD is "a leader in chip end markets with potential AI tailwinds." "We viewed AMD's 2Q23 print constructively as management indicated improving business conditions into the second half of the year," Skelly said. "With data center revenue growth troughing, we believe investors should look through to a 2024 inventory re-build that is supported by tailwinds from AI."

Persons: Morgan, Daniel Skelly, Skelly, — CNBC's Michael Bloom Organizations: Devices, Morgan Stanley Wealth Management . Investment, AMD, Intel

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