Former Rep. Stephen Buyer Charged With Insider Trading
Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
Former Rep. Stephen Buyer Charged With Insider Trading
Former Rep.
Stephen Buyer , Charged With Insider Trading.
CNBC reports that on July 25, the former Indiana representative was accused of using nonpublic information
to make trades after leaving Congress in 2011.
CNBC reports that on July 25, the former Indiana representative was accused of using nonpublic information
to make trades after leaving Congress in 2011.
According to the SEC, Buyer sold Sprint shares after news of its T-Mobile merger leaked.
According to the SEC, Buyer sold Sprint shares after news of its T-Mobile merger leaked.
He also allegedly sold Navigant shares following news of its acquisition by Guidehouse.
.
Buyer made a substantial profit with both trades.
He allegedly used accounts owned by his wife and mistress to conceal some of the transactions.
.
He is also accused of spreading stock purchases across individual IRAs and joint accounts with his wife, son and cousin.
.
Gurbir S.
Grewal, director of the SECâs enforcement division, issued a statement.
.
When insiders like Buyer â an attorney, a former prosecutor, and a retired Congressman â monetize their access to material, nonpublic information, as alleged in this case, .., Gurbir S.
Grewal, director of the SECâs enforcement division, via press release.
... they not only violate the federal securities laws, but also undermine public trust and confidence in the fairness of our markets, Gurbir S.
Grewal, director of the SECâs enforcement division, via press release.
Buyer's attorney, Andrew Goldstein, told CNBC that âCongressman Buyer is innocent.
SEC Permitted to Sue Coinbase , for Offering Unregistered Securities.
U.S. District Judge Katherine Polk Failla
has ruled that the Securities and Exchange Commission's (SEC) lawsuit against Coinbase
can proceed, The Verge reports. .
The SEC has sufficiently pleaded
that Coinbase operates as an exchange,
as a broker, and as a clearing agency
under the federal securities laws, , U.S. District Judge Katherine Polk Failla, via ruling.
... and, through its Staking Program,
engages in the unregistered
offer and sale of securities, U.S. District Judge Katherine Polk Failla, via ruling.
The judge rejected arguments that existing laws are inadequate when it comes to crypto. .
The judge rejected arguments that existing laws are inadequate when it comes to crypto. .
The âcryptoâ nomenclature may be
of recent vintage, but the challenged
transactions fall comfortably within the
framework that courts have used to identify
securities for nearly eighty years, U.S. District Judge Katherine Polk Failla, via ruling.
Coinbase chief legal officer Paul Grewal
took to X to respond to the ruling. .
Coinbase chief legal officer Paul Grewal
took to X to respond to the ruling. .
Early motions like ours
against a government agency
are almost always denied. , Paul Grewal, Coinbase chief legal officer, via X.
But clarity is the ultimate
goal and todayâs decision
continues us on that path, Paul Grewal, Coinbase chief legal officer, via X.
Looking ahead, we remain confident
in our legal arguments, we look
forward to proving weâre right, , Paul Grewal, Coinbase chief legal officer, via X.
... we are eager for the opportunity to
take discovery from the SEC for the first
time, and we appreciate the Courtâs
continued consideration of our case. , Paul Grewal, Coinbase chief legal officer, via X
Credit: Wibbitz Top Stories Duration: 01:31Published
SEC's New , Climate Disclosure Rules , Facing Multiple Lawsuits.
'Newsweek' reports that both industry and
environmental groups have legally challenged the
Securities and Exchange Commission over new rules. .
The new rules require some businesses to disclose
information about climate risks, including direct
greenhouse gas emissions and risks from extreme weather.
The SEC rules, which were approved on March 6 by a 3-2 vote,
also require companies to provide investors with context
on how those companies plan on managing those risks.
Some requirements were pared back prior to the rules
being approved. Those rules include reporting on Scope 3
emissions which relate to the company's supply chain.
In response to the new rules, two fossil fuel producing
companies filed lawsuits accusing the SEC of burdening
companies and exposing them to potential litigation.
19 state attorney generals have also
filed lawsuits claiming that the new rules
exceed the SEC's legal authority.
On the other side, environmental groups the Sierra Club
Foundation and Earthjustice announced their own lawsuits
accusing the SEC of watering down rules to protect investors.
Sierra Club has millions of members
and supporters who have investments
in the market. It's really critical that
we have access to information about
climate risks that may be faced
by the kinds of entities that
we would hope to invest in, Andres Restrepo, Sierra Club Senior Attorney, via Newsweek.
'Newsweek' reports that the SEC rules were
meant to take effect in 2026, however, the
legal challenges are likely to result in delays.
The new rules come as the U.S. Supreme Court
has indicated plans to restrict the regulatory
authority of environmental enforcement agencies.
Credit: Wibbitz Top Stories Duration: 01:31Published
Bitcoin Rallies, on Hopes of Renewed Interest , Among Mainstream Investors.
On March 4, the price of Bitcoin broke $65,000,
bringing it closer to returning to an all-time
high reached in November 2021.
NBC reports that the latest rally has been driven
by hopes that the launch of bitcoin exchange-
traded funds will expand bitcoin's pool of buyers. .
In 2024, the cryptocurrency has
gained over 48%, rapidly approaching its
record intra-day all-time high of over $68,000.
In January, Bitcoin ETFs were first approved by
the Securities and Exchange Commission (SEC). .
The SEC said the approval of the ETFs were meant
to make it easier for investors to gain exposure to
Bitcoin without having to actually own the digital coins.
NBC reports that the world of crypto is also banking
on a potential rally following a technical event
known as "halving" scheduled to occur in April.
This event will see the rate of supply for new bitcoin
to decline, which could cause the value of the
cryptocurrency to increase if demand remains unchanged.
Some mainstream investment experts have
still urged caution when it comes to investing
in the controversial cryptocurrency.
With equities, you own a share
of a company that produces goods
or services, and many also pay
dividends. With bonds, you get
a stream of interest payments, Vanguard statement, via NBC.
Commodities are real assets that meet
consumption needs, have inflation-
hedging properties, and can play
a role in certain portfolios, Vanguard statement, via NBC.
While crypto has been classified
as a commodity, itâs an immature
asset class that has little history,
no inherent economic value,
no cash flow, and can create
havoc within a portfolio, Vanguard statement, via NBC
Credit: Wibbitz Top Stories Duration: 01:32Published
Bitcoin Regains , $1 Trillion Market Cap.
On Feb. 14, the cryptocurrency's market capitalization exceeded $1 trillion for the
first time since 2021, CNBC reports. .
Bitcoin also surpassed the
$51,000 level during day trading.
It hasn't reached that price since
December 2021, CNBC reports. .
The price increase comes on the heels
of a 150% rally that occurred in 2023.
The 2023 rally was in anticipation of
the SEC's approval of bitcoin ETFs,
which came to fruition in January 2024.
However, the cost of bitcoin slumped after the ETF approval, and a new rally kicked off shortly after.
That rally is currently happening as
investors look toward bitcoin's "halving." .
"Halving" is written into bitcoin's code and reduces the supply of the cryptocurrency every four years.
The "halving" is set to take place in April. .
Just this year, bitcoin is up over 21%.
Credit: Wibbitz Top Stories Duration: 01:30Published
After approximately 600 lawyers sent a letter to the Chief Justice of India, Prime Minister Narendra Modi took a swipe at the Congress party on Thursday. "Using intimidation tactics is typical of Congress culture. Five decades ago, they advocated for a 'committed judiciary' â they shamelessly demand commitment from others for their own selfish interests but refuse to commit to the nation," the PM stated in a post on X. "It's no surprise that 1.4 billion Indians are turning away from them," he concluded.
#DYChandrachud #HarishSalve #Pinkyanand #VestedGroup #SupremeCourtofIndia #Letter #SupremeCourt #IndianLaw #LokSabhaElections #Oneindia #Oneindianews
~HT.99~PR.152~ED.102~
AAP, all of whose main leaders are now imprisoned in connection with the case, says CM Kejriwal has been "falsely arrested" in a "fabricated case". It has an.. DNA
India strongly objects to US remarks on Delhi CM's arrest, emphasizing sovereignty and fair legal process. MEA lodges protest against freezing of Congress's bank.. IndiaTimes
Congress has announced four more Lok Sabha candidates from Uttar Pradesh and named one for Guna, MP. The party is nearing the completion of candidate selection.. IndiaTimes
Delhi CM's arrest rallied opposition parties, with TMC joining despite Banerjee's absence. Congress, an ally of Kejriwalâs AAP in Delhi, Haryana and Gujarat.. IndiaTimes
Get to your bunkers and stay away from those Teslas, because we may be living in the opening act of Netflix's 'Leave the World Behind.' The Netflix apocalyptic thriller began trending on Thursday after a nationwide power outage felt eerily similar to the film. The outage struck the United States on Thursday morning and impacted more than 70,000 customers. The issue apparently started with AT&T's network but began affecting customers who use Verizon and T-Mobile as well and has also impacted emergency services such as 911. The reason for the outage has not yet been revealed.
Credit: The Hollywood Reporter Duration: 01:53Published
AT&T and Other Providers , Hit by Widespread Cellular Outages.
The outages were reported on the morning
of Feb. 22, according to Downdetector.com.
T-Mobile, Verizon, UScellular and Consumer Cellular customers reported service issues.
T-Mobile, Verizon, UScellular and Consumer Cellular customers reported service issues.
but AT&T had the most, with tens of thousands of complaints, CBS News reports. .
By 7:30 a.m. EST, 60,000
AT&T customers had no service.
Some areas were even having trouble connecting with 911 emergency services. .
If you are an AT&T customer and
cannot get through to 911, then
please try calling from a landline. , San Francisco Fire Department, via X.
If that is not an option then please try to
get ahold of a friend or family member who
is a customer of a different carrier and
ask them to call 911 on your behalf. , San Francisco Fire Department, via X.
Do not call or text 911 to simply
test your phone service, San Francisco Fire Department, via X.
AT&T outages have been most prominent in Atlanta, Charlotte, Chicago, Dallas, Houston, Indianapolis, Louisville, Miami and San Antonio, Downdetector.com reports.
In a statement, AT&T said, "We are working urgently to restore service to them. We encourage the use of wi-fi calling until service is restored.".
Both Verizon and T-Mobile denied experiencing an outage, saying their users likely had problems when trying to contact someone who uses another carrier.
Both Verizon and T-Mobile denied experiencing an outage, saying their users likely had problems when trying to contact someone who uses another carrier.
Downdetector is likely reflecting
challenges our customers were
having attempting to connect
to users on other networks, T-Mobile spokesperson, via CBS News
Credit: Wibbitz Top Stories Duration: 01:30Published
More and More , US Locations Offering , Lucrative Relocation Programs.
CNN reports that a growing number of smaller cities
and towns in the United States have started offering
relocation packages to attract potential new residents.
Perks can include financial incentives, free gym
memberships, access to co-working facilities
and even a dinner with the mayor. .
The most lucrative of these relocation incentives
have reportedly offered as much as five figures. .
MakeMyMove.com is an online marketplace
connecting remote workers with locations across
the U.S. that are offering relocation packages.
In 2023, over 50,000 people applied
for programs through the platform. .
In 2018, Tulsa Remote became the first company to offer
a $10,000 relocation package to entice remote
workers and entrepreneurs to relocate.
Ascend West Virginia offers a $12,000 cash incentive,
along with a number of outdoorsy perks, to attract
people to a number of Ascend communities.
CNN reports that Indiana has been
one of the most ambitious when it
comes to offering relocation benefits. .
According to MakeMyMove.com, there are
dozens of Indiana cities offering incentive
packages, including Noblesville and Evansville.
Other locations with relocation programs
in place include: Kansas, Kentucky,
Alabama, New York and Alaska. .
Other locations with relocation programs
in place include: Kansas, Kentucky,
Alabama, New York and Alaska. .
Other locations with relocation programs
in place include: Kansas, Kentucky,
Alabama, New York and Alaska.
Credit: Wibbitz Top Stories Duration: 01:31Published
Norfolk Southern Joins Federal , Pilot Program for Workers , to Report Safety Concerns.
Some engineers and conductors at Norfolk Southern
will have access to a federal system to anonymously
report safety concerns without fear of retaliation. .
'The Independent' reports that Norfolk Southern
is the first of six major freight railroads to join
the Federal Railroad Administration's program. .
So far, the one-year pilot program is limited
to members of just two unions based in
Atlanta, Georgia, Elkhart, Indiana, and Roanoke, Virginia.
The agreement to participate in the program
comes just days before the one-year anniversary
of the fiery East Palestine, Ohio derailment. .
The agreement to participate in the program
comes just days before the one-year anniversary
of the fiery East Palestine, Ohio derailment. .
The disastrous crash prompted temporary evacuations
and has cost over $1 billion to cleanup hazardous
chemicals that were spilled and subsequently burned.
The disastrous crash prompted temporary evacuations
and has cost over $1 billion to cleanup hazardous
chemicals that were spilled and subsequently burned.
'The Independent' reports that the derailment has also
given rise to lingering questions regarding the long-term
health consequences for people living in the area.
'The Independent' reports that the derailment has also
given rise to lingering questions regarding the long-term
health consequences for people living in the area.
Norfolk Southern has taken a good
first step, and itâs time for the other
Class I railroads to back up their talk
with action and make good on their
promises to join this close call
reporting system and keep
Americaâs rail network safe, Pete Buttigieg, U.S. Transportation Secretary, via 'The Independent'.
Norfolk Southern has taken a good
first step, and itâs time for the other
Class I railroads to back up their talk
with action and make good on their
promises to join this close call
reporting system and keep
Americaâs rail network safe, Pete Buttigieg, U.S. Transportation Secretary, via 'The Independent'.
Major rail companies have resisted joining
the new federal reporting system, claiming their
own internal reporting systems are sufficient. .
According to Norfolk Southern CEO Alan Shaw,
the railroad's decision to join the new reporting program
will hopefully set an example for the rest of the industry.
According to Norfolk Southern CEO Alan Shaw,
the railroad's decision to join the new reporting program
will hopefully set an example for the rest of the industry.
NS is proud to partner with
our labor leaders and FRA to
make another industry-leading
advancement in safety, Alan Shaw, Norfolk Southern CEO, via 'The Independent'
Credit: Wibbitz Top Stories Duration: 01:30Published
Mystery Respiratory , Illness Among Dogs , Spreads to More US States.
'Newsweek' reports that dogs across the United States have fallen sick with a mystery illness called Atypical Canine Infectious Respiratory Disease Complex (aCIRDC).
The cause of aCIRDC, which has now been
reported in at least 19 states, remains unknown. .
Most recently, cases have been reported
in Maine, North Dakota and Texas. .
Other states to report cases include Washington state,
Vermont, Rhode Island, Pennsylvania, Oregon, Nevada, .
New Hampshire, Massachusetts, Maryland, Indiana,
Illinois, Idaho, Georgia, Florida, Colorado and California.
A spokesperson for the U.S. Department of Agriculture's
Animal and Plant Health Inspection Service said the agency , "is currently working with multiple state animal
health officials and diagnostic laboratories
regarding reports of respiratory illness in dogs
that, in rare cases, has progressed rapidly to death.".
A spokesperson for the U.S. Department of Agriculture's
Animal and Plant Health Inspection Service said the agency , "is currently working with multiple state animal
health officials and diagnostic laboratories
regarding reports of respiratory illness in dogs
that, in rare cases, has progressed rapidly to death.".
Spokesperson Mike Stepien told
'Newsweek' that the agency has, "not yet definitively
identified the cause of illness.".
The mystery disease was first reported in
Oregon earlier in 2023, with over 200 reports
largely focused around the Portland area.
As a result of the unknown illness, several
annual dog events were canceled over fears of
the disease spreading and health officials have
warned owners to limit dog socializing.
As a result of the unknown illness, several
annual dog events were canceled over fears of
the disease spreading and health officials have
warned owners to limit dog socializing.
Symptoms reportedly include sneezing,
watery eyes, cough, fever and lethargy, while more
extreme cases can lead to pneumonia and even death.
At this point in time, I don't think there
is reason for extreme alarm. I do think it's
a time to be cautious and to stay informed, Deborah Silverstein, Professor and veterinarian at
the University of Pennsylvania, via 'New York Times'
Credit: Wibbitz Top Stories Duration: 01:31Published
Krispy Kreme to Be Sold , at McDonaldâs Nationwide.
Krispy Kreme to Be Sold , at McDonaldâs Nationwide.
Both food chains made the announcement
on March 26, CNBC reports. .
The rollout will start later this year but will take until the end of 2026 to reach McDonald's nationwide. .
That's because Krispy Kreme will have
to "more than double its distribution"
to meet demand, CNBC reports. .
We think we can service about
6,000 restaurants with our existing
infrastructure, mostly doughnut
shops, which have excess capacity, Krispy Kreme CEO Josh Charlesworth, to CNBC.
Shares of Krispy Kreme jumped 22%
following the announcement.
Krispy Kreme is also expanding distribution
to grocery and convenience stores.
That means that the overall efficiency
and productivity of our distribution network will significantly improve over time, not just
because of all those local deliveries. , Krispy Kreme CEO Josh Charlesworth, to CNBC.
Currently, Krispy Kreme typically makes more doughnuts than it can sell, so churning out even more product will take few additional costs. .
Currently, Krispy Kreme typically makes more doughnuts than it can sell, so churning out even more product will take few additional costs. .
Overall, therefore, it makes our system
more profitable to grow the deliver
fresh daily channel, and McDonaldâs
is an accelerator of that, Krispy Kreme CEO Josh Charlesworth, to CNBC.
Overall, therefore, it makes our system
more profitable to grow the deliver
fresh daily channel, and McDonaldâs
is an accelerator of that, Krispy Kreme CEO Josh Charlesworth, to CNBC
Credit: Wibbitz Top Stories Duration: 01:31Published
Boeing CEO Dave Calhoun , to Step Down.
Calhoun will resign at the
end of the year, CNBC reports.
His departure comes amid a broad management shakeup at Boeing following a Jan. 5 incident in which a door flew off an Alaska Airlines flight.
His departure comes amid a broad management shakeup at Boeing following a Jan. 5 incident in which a door flew off an Alaska Airlines flight.
As you all know, the Alaska Airlines
Flight 1282 accident was a
watershed moment for Boeing, Boeing CEO Dave Calhoun, via note to employees.
We must continue to respond to
this accident with humility and
complete transparency. , Boeing CEO Dave Calhoun, via note to employees.
We also must inculcate a total
commitment to safety and quality
at every level of our company, Boeing CEO Dave Calhoun, via note to employees.
Calhoun went on to say that
"the eyes of the world are on us.".
Calhoun went on to say that
"the eyes of the world are on us.".
I know we will come through this moment a
better company, building on all the learnings
we accumulated as we worked together to
rebuild Boeing over the last number of years, Boeing CEO Dave Calhoun, via note to employees.
Larry Kellner, chairman of the board,
will also step down in May.
Boeing director Steve Mollenkopf
will become the new chairman.
Boeing director Steve Mollenkopf
will become the new chairman.
Stan Deal, president and CEO of Boeing Commercial
Airplanes, will step down immediately.
Stephanie Pope, Boeing's Chief
Operating Officer, will take his place
Credit: Wibbitz Top Stories Duration: 01:30Published
Trump Canât Obtain Appeal Bond , in New York Fraud Case.
According to a New York court filing
on March 18, Trump isn't able to secure a
$454 million bond as he appeals a civil business
fraud judgement against him, CNBC reports. .
Trump's attorneys said that getting the bond is "impossible" since it would "effectively" require "cash reserves approaching $1 billion.".
Defendantsâ ongoing diligent
efforts have proven that a bond
in the judgmentâs full amount
is âa practical impossibility.â, Donald Trump's lawyers, via CNBC.
Gary Giulietti, president of the
Northeast division of the Lockton Companies, was hired to help Trump obtain a bond.
Despite scouring the market, we have
been unsuccessful in our effort ... for the
simple reason that obtaining an appeal bond
for $464 million is a practical impossibility
under the circumstances presented, Gary Giulietti, president of the Northeast
division of the Lockton Companies, via CNBC.
Simply put, a bond of this
size is rarely, if ever, seen, Gary Giulietti, president of the Northeast
division of the Lockton Companies, via CNBC.
In the unusual circumstance that a bond of
this size is issued, it is provided to the largest
public companies in the world, not to
individuals or privately held businesses, Gary Giulietti, president of the Northeast
division of the Lockton Companies, via CNBC.
Giulietti went on to say that a private company would need about $1 billion to put up as collateral to receive a bond of that size. .
While it is my understanding that
the Trump Organization is in a strong
liquidity position, it does not have
$1 billion in cash or cash equivalents, Gary Giulietti, president of the Northeast
division of the Lockton Companies, via CNBC.
Meanwhile, Trump secured a $91.6 million bond earlier this month as part of a separate case
brought against him by writer E. Jean Carroll. .
Meanwhile, Trump secured a $91.6 million bond earlier this month as part of a separate case
brought against him by writer E. Jean Carroll.
Credit: Wibbitz Top Stories Duration: 01:31Published
Former Treasury Secretary , Looking to Form Investor Group , to Purchase TikTok.
NBC reports that former Treasury Secretary
Steven Mnuchin is looking to put together an
investor group to acquire ByteDance's TikTok.
NBC reports that former Treasury Secretary
Steven Mnuchin is looking to put together an
investor group to acquire ByteDance's TikTok.
The news comes as a bipartisan bill works its
way through Congress that threatens to bring an
end to the platform's existence in the United States.
The news comes as a bipartisan bill works its
way through Congress that threatens to bring an
end to the platform's existence in the United States.
On March 13, the House of Representatives passed
the bill, which would force ByteDance to divest
the platform or face a ban on the app in the U.S.
I think the legislation should
pass and I think it should be sold.
Itâs a great business and Iâm going
to put together a group to buy TikTok, Steven Mnuchin, Former Treasury Secretary, via CNBCâs âSquawk Boxâ.
This should be owned by
U.S. businesses. Thereâs no
way that the Chinese would
ever let a U.S. company own
something like this in China, Steven Mnuchin, Former Treasury Secretary, via CNBCâs âSquawk Boxâ.
NBC points out that the bill still requires Senate approval
before it heads to President Joe Biden, who has indicated
that he would support the bill if it passes through Congress.
NBC points out that the bill still requires Senate approval
before it heads to President Joe Biden, who has indicated
that he would support the bill if it passes through Congress.
However, TikTok CEO Shou Zi Chew has said
that selling TikTok is not a viable option. .
According to PitchBook data, , ByteDance was valued at , $220 billion in 2023. .
Mnuchin has yet to specify the potential valuation
of a deal to acquire the social media platform
or which investors may be interested in the deal.
At the same time, the 'Wall Street Journal' reported that
former Activision Blizzard CEO Bobby Kotick has also
expressed interest in a deal to purchase TikTok.
At the same time, the 'Wall Street Journal' reported that
former Activision Blizzard CEO Bobby Kotick has also
expressed interest in a deal to purchase TikTok
Credit: Wibbitz Top Stories Duration: 01:31Published
Biden and Trump Clash , Over Cuts to Medicare and Social Security.
Biden and Trump Clash , Over Cuts to Medicare and Social Security.
In a telephone interview
with CNBC host Joe Kernen, .
former President Donald Trump was asked how he'd "handle entitlements" like Medicare and Social Security when it comes to addressing concerns about long-term debt.
So first of all, there is a lot you can do in
terms of entitlements, in terms of cutting, Donald Trump, via CNBC.
And in terms of, also, the theft and the
bad management of entitlements â
tremendous bad management of entitlements
â thereâs tremendous amounts of things
and numbers of things you can do, Donald Trump, via CNBC.
Biden, who pledged during his State of the Union address to stop those who âwant to
put Social Security on the chopping block,â.
took to social media to say,
âNot on my watch.â.
The president addressed the issue again
in New Hampshire on March 11.
If anyone tries to cut Social Security
or Medicare, or raise the retirement
age again, I will stop them, President Joe Biden, via statement.
This morning, Donald Trump
said cuts to Social Security and
Medicare are on the table again, President Joe Biden, via statement.
Trump campaign spokeswoman
Karoline Leavitt issued a statement.
President Trump delivered on his
promise to protect Social Security and
Medicare in his first term, and President
Trump will continue to strongly protect Social
Security and Medicare in his second term. , Karoline Leavitt, Trump campaign spokeswoman, via statement.
The only candidate who poses a threat
to Social Security and Medicare is Joe Biden â
whose mass invasion of countless millions
of illegal aliens will, if they are allowed to
stay, cause Social Security and Medicare
to buckle and collapse, Karoline Leavitt, Trump campaign spokeswoman, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published