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The Latest Breaking News from Wall Street Journal

Ramesh 'Sunny' Balwani gets prison time for Theranos fraud

San Francisco (AFP) - A judge on Thursday sentenced a top aide and ex-boyfriend of fallen Theranos founder Elizabeth Holmes to prison for duping people into trusting the failed blood testing startup.

AFP

[RETRACTED] Calabresi Responds to Whelan on State Legislatures and Moore v. Harper

What is meant by "each State by the Legislature thereof" that prescribes how to conduct elections?

Reason

Meet the ultrawealthy children of the world's richest man Bernard Arnault, vying to take over his LVMH empire in a real-life 'Succession' plot

LVMH chief Bernard Arnault briefly unseated Elon Musk as the world's richest man at $184.7 billion. Meet his kids, who run Tag HEUER, design Louis Vuitton watches, and more.

Fortune

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Facebook threatens to remove all news content if bill forcing payments to local media outlets passes

Meta/Facebook is threatening to remove all local news from its platform following reports that proposed legislation to force Big Tech to pay publishers for news content is being added to a defense bill in a bid to win approval during the lame-duck Congress session.

Chicago Tribune

EU ruling restricts Meta’s targeted ad model: Report

The ruling could limit the data Meta may access to sell personalised ads, The Wall Street Journal reports.

Al Jazeera

Meta Stock Tumbles On Report EU Flagging Concern Over Targeted Ad Sales

The Wall Street Journal reported Tuesday that a panel advising the European Data Protection Board has raised concerns over Meta's targeted ad sales.

The Street

PepsiCo Stock Bumps Higher On Report of North American Job Cuts

PepsiCo is looking to cut hundreds of jobs at its north American snacks and beverages division, the Wall Street Journal reported.

The Street

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Facebook's own oversight board slams its special program for VIPs

Oversight board says Facebook parent Meta appears to be more concerned with avoiding "provoking" VIPs and evading accusations of censorship than balancing tricky questions of free speech and safety.

WEKU

Sexually Active Gay Men May Soon Be Able To Donate Blood in America

Men in monogamous relationships may get clearance to give.

Reason

David Lat on Hogan Lovells' Firing of Semi-Retired Equity Partner for Comments on Abortion and Race

"[T]here is increasingly no place for social conservatives in many large law firms."

Reason

Joe Rogan tops Spotify yet again

Despite or because of multiple controversies, including misinformation, people continue to listen to Joe Rogan

Salon

Lost Money to Zelle Fraud? You May Soon Be Able to Get It Back

Banks like JP Morgan and Wells Fargo have been under increased scrutiny over rising Zelle fraud.

The Street

Miami-Dade County will add millions to FTX bankruptcy claim unless the arena naming rights deal with the crypto exchange is terminated

If the agreement isn’t terminated by Jan. 1, the county said it will add $5.5 million to its $16.5 million claim in bankruptcy court.

Fortune

Uniting for Ukraine Private Refugee Sponsorship Program Breaks Through Bureaucratic Red Tape

In sharp contrast to the sclerotic traditional refugee admissions program, the new private refugee sponsorship program enables Ukrainians fleeing war and repression to enter the US quickly and relatively easily. As a participating sponsor myself, I have firsthand knowledge of its effectiveness.

Reason

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Al Jazeera

Crypto lender Genesis denies bankruptcy plans after FTX collapse

Genesis’s comments come days after it halted customer withdrawals due to liquidity difficulties.

Fortune

Elizabeth Holmes’s 11.25-year sentence will send shock waves through the tech industry

Court observers said the judge intended to set an example.

The Street

Timeline of Cryptocurrency Exchange FTX's Epic Collapse

The FTX cryptocurrency exchange was valued at $32 billion in February. It imploded within days, causing one of the biggest financial fiascos of the decade.

The Conversation

How the Russian economy is defying and withstanding western sanctions

Since Russia first invaded Ukraine in February 2022, western media has frequently suggested that economic sanctions against the Russians are going to stifle the war effort or even bring the country to its knees.

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The Guardian - AU

The Australian’s editor Chris Dore lost his job after attending News Corp event in California

Exclusive: Key Murdoch editor attended Wall Street Journal Tech Live event at Laguna Beach last month along with top News Corp executives

AFP

Elizabeth Holmes to be sentenced in Theranos fraud trial

San Francisco (AFP) - Fallen US biotech star Elizabeth Holmes faces sentencing on Friday after being found guilty of defrauding investors and endangering patients in a case that became an indictment of Silicon Valley.

Reason

Verdict Against Auburn University in Economics Professor's First Amendment Retaliation Lawsuit

In Stern v. Roberts, a jury just held that Auburn University had retaliated against Prof. Michael Stern, a tenured economics professor, based on his speech; the jury awarded $145K in compensatory damages and $500K in punitive damages. Here are the factual allegations from the earlier opinion denying summary judgment: In…

Reuters

Fox News' Hannity welcomes Trump White House bid opposed by other Murdoch media

Donald Trump's 2024 bid for the U.S. presidency was broadcast live and welcomed on the Fox News “Hannity” show on Tuesday, even as others in Rupert Murdoch-controlled media oppose giving the former president another tilt at the White House.

Ballotpedia

Economy and Society, November 15, 2022: Former BlackRock senior adviser expresses concerns with ESG

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics.

The Street

Fallen FTX Founder Cheated to Make More Money on His Platform

Sam Bankman-Fried used an old trick to make more money on his crypto exchange FTX, according to the Wall Street Journal.

Benzinga

Flu Season Starts At Its Fastest Pace Since 2009 — Canada And Parts Of The U.S. Are Now Facing A Tylenol, Advil Shortage

The U.S. flu season is already off to a fast start as children return to schools, less mask-wearing and travel returns to COVID-19 pre-pandemic norms.

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People

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