Friday, 30 April 2021
Eli Broad, Los Angeles Philanthropist With Art Trove, Dies at 87
from Bloomberg https://ift.tt/2QJVDO0
Billionaire Eli Broad, who reshaped Los Angeles' landscape, dead at 87
AP Photo/Richard Vogel, File
- Businessman and philanthropist Eli Broad died Friday at the age of 87 after a lengthy illness.
- The self-made billionaire helped shape the city of Los Angeles, building museums and funding cultural institutions.
- Broad built two Fortune 500 companies during his lifetime, and Forbes estimated his fortune at $6.9 billion.
- See more stories on Insider's business page.
Eli Broad, a philanthropist and self-made billionaire who used his fortune to reshape the culture of the city of Los Angeles, died Friday at Cedars-Sinai Medical Center in Los Angeles at the age of 87.
Broad built two Fortune 500 companies during his life and played a role in funding and shaping institutions like the Walt Disney Concert Hall and the Los Angeles Museum of Contemporary Art. The businessman went on to build his own museum in the heart of LA, a city he loved and helped make a cultural capital.
A spokeswoman for the Eli and Edythe Broad Foundation told The New York Times his death came after a lengthy illness.
The New York native chose California as his home and found massive success in the home construction and insurance industries. Forbes estimated his fortune at $6.9 billion.
"There's no curtain you can't get through in Los Angeles - no religious curtain, no curtain about where you came from," Mr. Broad told The Times in 2001. "It's a meritocracy, unlike some other cities. If you have ideas here, if you have energy, you'll be accepted. I love LA."
This story is developing. Please check back for updates.
Read the original article on Business Insider
from Business Insider https://ift.tt/3ueOowc
‘No one has seen anything like this’: stories from inside India’s Covid disaster
In a land of extreme inequality, no sector of society is being spared
from International homepage https://ift.tt/2QKQ4yP
from International homepage https://ift.tt/2QKQ4yP
Australian winemaker looks to sidestep China’s 218% tariffs
Accolade CEO plans to boost business in world’s second-biggest economy despite trade tensions
from International homepage https://ift.tt/3e8zbXW
from International homepage https://ift.tt/3e8zbXW
Japan to Approve Moderna Vaccine as Soon as May 21, Yomiuri Says
from Bloomberg https://ift.tt/3e5EPd6
Former Netflix executive convicted of fraud after orchestrating more than $500,000 in bribes and kickbacks
Photo Illustration by Chesnot/Getty Images
- Ex-Netflix IT chief Michael Kail on Friday was convicted of 28 counts of fraud and money laundering.
- Kail created a "pay-to-play" scheme, taking bribes and kickbacks from tech startups hoping to do business with Netflix.
- Kail, who was indicted in 2018, must also forfeit a Los Gatos home he purchased with the funds.
- See more stories on Insider's business page.
Former Netflix vice president of IT Michael Kail was convicted by a federal jury on Friday of 28 counts of fraud and money laundering, the US Department of Justice announced in a press release.
Kail, who was indicted in 2018, used his position to create a "pay-to-play" scheme where he approved contracts with outside tech companies looking to do business with Netflix in exchange for taking bribes and kickbacks, according to evidence presented to the jury, the release said.
Kail accepted bribes or kickbacks from nine different companies totaling more than $500,000 as well as stock options, according to the DOJ's press release.
The jury also ordered Kail to forfeit to the government a home he purchased in Los Gatos, California, using the funds he obtained through the illegal scheme.
"Bribery undermines fair competition and innovation in any business arena, and particularly Silicon Valley's highly competitive environment of cutting-edge innovation," acting US Attorney Stephanie Hinds said in a press release.
"As Netflix's Vice President of IT Operations, Michael Kail wielded immense power to approve valuable Netflix contracts with small tech vendors, and he rigged that process to unlock a stream of cash and stock kickbacks to himself. Netflix and other companies expect and deserve honest services from its employees."
Netflix sued Kail after he left the company in 2014 to take a role as Yahoo's CIO, accusing him of fraud and breaching his fiduciary duties. Netflix declined to comment.
According to the DOJ, Kail faces a maximum sentence of up to 20 years in prison and a fine - either $250,000, twice the gross amount he pocketed as part of the scheme, or twice the amount of Netflix's loss, whichever is greatest - for each wire or mail fraud conviction, as well as up to 10 years in prison and a $250,000 fine for each money laundering conviction.
Read the original article on Business Insider
from Business Insider https://ift.tt/3uaBjDN
GOP state lawmaker facing criminal charges related to a video that appears to show him allowing right-wing protestors to enter the Oregon Capitol
Andrew Selsky, File/AP
- Video shows a GOP state lawmaker letting in protestors into the Oregon state capitol on December 21.
- Oregon Rep. Mike Nearman faces two charges in connection with the incident.
- Oregon Speaker of the House Tina Kotek called Nearman's actions a "serious breach of public trust."
- See more stories on Insider's business page.
A GOP state lawmaker was charged Friday, after video appears to show him open the door to the Oregon State Capitol, allowing right-wing protestors to enter the building.
During a demonstration on December 21 of last year, surveillance video appears to show state Rep. Mike Nearman physically opening a door to the Capitol building without shutting it behind him, allowing protestors waiting outside the Oregon Capitol to quickly enter the building.
In the video, Oregon State Police later arrived to push protestors back outside and standing in the open door while facing off a crowd of protestors. Four people were arrested in the incident, which was later declared an unlawful assembly.
-Dan Tilkin (@DanTilkinKOIN6) January 8, 2021
On Wednesday, Oregon Speaker of the House Tina Kotek said during a press conference that it was Nearman who opened the door "to let demonstrators into the building."
"This was a serious, serious breach of public trust," Kotek told reporters Wednesday.
Democratic lawmakers accused Nearman of putting lawmakers and Capitol staffers in danger for his actions in a formal complaint filed in January. The complaint described Nearman's actions as "completely unacceptable, reckless, and so severe that it will affect people's ability to feel safe working in the Capitol or even for the legislature," citing a report by Oregon Public Broadcasting.
"He let a group of rioters enter the Capitol, despite his knowledge that only authorized personnel are allowed in the building due to the COVID-19 pandemic," the complaint said.
Marion County District Attorney Paige Clarkson filed charges against Nearman on Friday in connection with the December 21 incident.
He faces one count of official misconduct in the first degree for "unauthorized exercise of his official duties, with intent to obtain a benefit or to harm another," and another count on criminal trespass in the second degree for aiding and abetting "another to unlawfully and knowingly enter and remain in and upon the premises of the Oregon State Capitol."
Nearman did not immediately respond to Insider's request for comment on the charges filed by the Marion County district attorney.
Read the original article on Business Insider
from Business Insider https://ift.tt/2SjbALy
Shine comes off the streaming dream as Netflix subscriptions slow
Incumbent facing fiercer competition after pandemic boost with spending on content critical
from International homepage https://ift.tt/2PA9O7G
from International homepage https://ift.tt/2PA9O7G
Czechs demand probe into carbon credits sale by Sanjeev Gupta steel plant
Concerns that factory would lose out on funds to modernise its operations
from International homepage https://ift.tt/3xG0r7B
from International homepage https://ift.tt/3xG0r7B
Australians Flying Home From India Could Face Five Years in Jail
from Bloomberg https://ift.tt/3eHQI8l
Ex-Netflix Executive Convicted in Vendor Bribery-Kickback Scheme
from Bloomberg https://ift.tt/3t6TxVD
Thursday, 29 April 2021
Tribune Suitor Discussing Plan to Put Up More of His Own Money
from Bloomberg https://ift.tt/337PI7P
Florida legislature passes elections bill that contains restrictions on voting, following a GOP trend
AP Photo/Phil Sears, File
- The Florida legislature passed a broad elections bill that contains voting restrictions.
- Florida Gov. Ron DeSantis is expected to sign the bill in the battleground state.
- The makeup of the bill resembles aspects of Georgia's recently passed voting law.
- See more stories on Insider's business page.
Florida's legislature passed a sweeping and restrictive voting reform bill late on Thursday, sending the legislation to Gov. Ron DeSantis for his signature.
DeSantis is expected to sign the bill in the battleground state, and the makeup of the bill resembles aspects of Georgia's recently passed voting law.
The new bill limits the use of ballot drop boxes, requires separate absentee ballot requests for each election, and enforces stricter, more partisan rules for who can collect drop-off ballots and who can observe ballot counting.
The bill also broadly prohibits individuals and groups from providing items with "intent to influence," to voters within 150 feet of a polling location. Those items include food and water.
The package made it through both legislative chambers with near-unanimous GOP support, passing 77-40 in the House and 23-17 in the Senate.
One GOP state senator, Rep. Jeff Brandes, voted against it.
The proponents of the legislation cited debunked claims of election fraud during the 2020 election to justify the need for the reforms, as Republican-led state legislatures in Texas and Arizona eye similar bills.
This story is developing. Check back for updates.
Read the original article on Business Insider
from Business Insider https://ift.tt/334Z5Fi
The FBI reportedly warned Giuliani in 2019 that Russia was using him as a tool to spread disinformation before the election
Jacquelyn Martin/AP Photo
- The FBI warned Rudy Giuliani in late 2019 that the Russian government was using him to spread disinformation about the Bidens, WaPo reported.
- Giuliani ignored the warnings and continued his quest to dig up dirt on the Bidens.
- He's now the target of a federal criminal investigation into whether he violated lobbying laws.
- See more stories on Insider's business page.
The FBI warned former New York mayor Rudy Giuliani in late 2019 that the Russian government was using him to spread disinformation about the Biden family ahead of the 2020 election, The Washington Post reported.
Giuliani was a fixture on conservative airwaves in the months leading up to the election, where he repeatedly amplified bogus conspiracy theories accusing then candidate Joe Biden and his son, Hunter, of having corrupt ties to Ukraine. He also pushed the lie that Ukraine, not Russia, interfered in the 2016 election, a talking point that can be traced back to Russian President Vladimir Putin himself.
The former mayor serves as former President Donald Trump's personal attorney, and his actions were so alarming to US officials that they warned the White House and Trump after Giuliani traveled to Kiev in December 2019 that Russia was using him to funnel disinformation to US audiences before the 2020 election.
Four former officials familiar with the matter told The Post the warnings were based on several sources, including intercepted communications. The intercepts are said to have shown that Giuliani communicated with multiple people who had ties to Russian intelligence during the Ukraine trip.
He specifically made the trip as part of his effort to dig up dirt on Hunter Biden related to his work for the Ukrainian natural-gas company Burisma Holdings. One of the people he met with was the Ukrainian politician Andriy Derkach. The US government has since sanctioned Derkach and described him as an "active Russian agent."
The Post reported that the intercepted communications raised red flags with US officials who worried that Russian officials were using Giuliani as a conduit to feed disinformation to Trump. After the White House was warned about the possibility, the report said, the national security advisor Robert O'Brien told the president to approach any information Giuliani gave him with caution.
Trump shrugged off the warnings, according to The Post. On Wednesday, the FBI raided Giuliani's apartment and office in Manhattan and seized his electronic devices, as well as a computer belonging to his personal assistant, Jo Ann Zafonte. Zafonte was served with a grand jury subpoena, and The New York Times reported that the feds also raided the Washington, DC, home of one of Giuliani's associates and a fellow attorney, Victoria Toensing.
The raids mark an aggressive new phase in a long-running criminal investigation into whether Giuliani broke foreign lobbying laws through his dealings with Ukraine. The Times later reported that at least one of the search warrants sought evidence about the abrupt firing of Marie Yovanovitch, the US's former ambassador to Ukraine.
Specifically, prosecutors are said to be examining whether Giuliani was working on behalf of the Ukrainian prosecutor general, Yuriy Lutsenko, while pushing for Yovanovitch's dismissal.
Yovannovitch appeared for a nine-hour, closed-door deposition on Capitol Hill related to the first impeachment inquiry into Trump. In her opening statement, she said that then-Deputy Secretary of State John Sullivan told her she "had done nothing wrong" but that there was a "concerted campaign' to remove her, and that the department had been "under pressure from the President to remove [her] since Summer of 2018."
Giuliani and his lawyer have denied any wrongdoing, and his attorney described the FBI's raids as "legal thuggery." The former New York mayor also a statement saying he was targeted because of a "corrupt double standard" and alleging that investigators were ignoring purported illicit activities on the part of Hunter Biden.
Read the original article on Business Insider
from Business Insider https://ift.tt/3vtJPhr
Mitsubishi Chemical’s first foreign boss vows to slim down sprawling group
Japanese business needs to tackle ‘sacred cows’ to survive clean energy era, warns chief
from International homepage https://ift.tt/2PB8Wjl
from International homepage https://ift.tt/2PB8Wjl
India’s Covid wards are like scenes from Dante’s ‘Inferno’
Black market oxygen, rows of patients struggling to breathe — the pandemic has cruelly exposed systemic issues
from International homepage https://ift.tt/3u2v5py
from International homepage https://ift.tt/3u2v5py
Matt Gaetz associate Joel Greenberg said in a letter that Gaetz paid for sex with a minor
- Matt Gaetz's associate, Joel Greenberg, said in a letter obtained by The Daily Beast that Gaetz paid for sex with a minor.
- Gaetz is under a federal criminal investigation over whether he broke sex trafficking laws.
- See more stories on Insider's business page.
Florida Rep. Matt Gaetz paid to have sex with a minor, his longtime associate Joel Greenberg said in a letter obtained by The Daily Beast.
"On more than one occasion, this individual was involved in sexual activities with several of the other girls, the congressman from Florida's 1st Congressional District and myself," Greenberg said in the letter, referring to an individual who was 17 years old at the time of the alleged encounter with Gaetz, according to The Daily Beast. "From time to time, gas money or gifts, rent or partial tuition payments were made to several of these girls, including the individual who was not yet 18. I did see the acts occur firsthand and Venmo transactions, Cash App, or other payments were made to these girls on behalf of the Congressman."
The Justice Department has been investigating since last year over whether he violated federal sex trafficking laws and engaged in a sexual relationship with a minor. The investigation into him stems from a broader inquiry into the former Florida tax collector Joel Greenberg, a close associate of Gaetz's who was indicted on 33 felony counts, including carrying out the sex trafficking of a minor between the ages of 14 and 17. Greenberg previously pleaded not guilty.
Both Gaetz and his father have confirmed the existence of the investigation. Greenberg, meanwhile, appears to be close to striking a plea deal with prosecutors, and The New York Times reported that he's been cooperating with investigators since last year.
Politico reported that the feds also obtained a search warrant and seized Gaetz's iPhone in December. The report said Gaetz changed his phone number last year and that investigators also seized his former girlfriend's phone in November.
Gaetz has denied all allegations of sexual misconduct and wrongdoing, and his office did not immediately respond to a request for comment.
Read the original article on Business Insider
from Business Insider https://ift.tt/2QBe47E
Weekly Watchlist: Biden's Biggest Challenges for the Next 100 Days
from Bloomberg https://ift.tt/3nxfEU1
Waymo's New CEOs Say Self-Driving Unit Eyes More Outside Funding
from Bloomberg https://ift.tt/2SaRHWR
See photos of the bird that researchers scientifically deemed the 'most Instagrammable'
Photo by Joshua Prieto/SOPA Images/LightRocket via Getty Images
- Two German scientists set out to answer a simple question: What makes a good bird photo?
- They examined thousands of Instagram photos and users' "like" behavior to find the champion.
- In the end, a nocturnal fowl native to Australia and Southeast Asia came out on top.
- See more stories on Insider's business page.
They say beauty is in the eye of the beholder, and in the tawny frogmouth's case, the creature's wide, emotive eyes helped secure it the title of the most photogenic species of its class.
Two German scientists - one, a photography aestheticist, and the other, an avid bird aficionado - set out to use empirical evidence to answer a seemingly subjective question: "What makes a great bird photo?"
In a study released last week, Dr. Katja Thömmes and Dr. Gregor Hayn-Leichsenring, both postdoctoral researchers at the University Hospital Jena in Germany, examined more than 20,000 photos of birds across nine Instagram accounts with a total following of more than 3 million users in search of their answer.
Some of the results were surprising.
For example, researchers found that a photograph's "aesthetic appeal" was frequently unrelated to how "beautiful" the picture is in a traditional sense of the word. Certain colors on a bird, including blue and red, may garner more "likes" from Instagram users, but the "interestingness, idiosyncrasy, and...situational context" of a feathered fowl plays a larger role in accumulating social media approval.
In other words, the weirder the bird looks, the more likely people will be to respond positively to the photograph. And Instagram users' appreciation for the unusual birds is likely responsible for the study's overall victor: the frogmouth.
Photo by Gary Graham/Newspix/Getty Images
Often confused for an owl, the nocturnal frogmouth boasts long wings, short legs, a hooked beak, and front-facing eyes. The birds are most commonly found in their native Australia and Southeast Asia.
While most birds' eyes are positioned on the sides of their head, the frogmouth's forward-facing eyes make the creatures appear more "personable" and "humanlike," Tim Snyder, the curator of birds at the Brookfield Zoo in Chicago told The New York Times.
"They always look perpetually angry," Snyder told the outlet. "The look on their face just looks like they're always frustrated or angry with you when they're looking at you...it's kind of funny."
Thömmes told The Times she didn't expect the frogmouth to take the number one spot. Out of more than 27,000 images examined by the duo, the frogmouth was only in 65, she said.
"The frogmouth brings that factor of surprise as it just does not look like any other bird, with its almost anthropomorphic, facial features," Thömmes told The Times. "I must admit that I have grown quite fond of this peculiar nocturnal bird myself."
Photo by Gary Graham/Newspix/Getty Images
To conduct their experiment, the scientists used a method Thömmes developed called the Image Aesthetic Appeal, or IAA.
Thömmes provided an in-depth explanation of how the method works to The Times: "[The number of likes on an Instagram photo] alone doesn't have much meaning to it, especially if we want to compare it to another photo," she said. But once the scientists control for "reach and time," "we can for example, state that Photo X received 25 percent more likes than the exposure to the audience alone can explain."
Other popular birds on Instagram include the pigeon, the turaco, the hoopoe, and the fairywren, according to the study.
Read the original article on Business Insider
from Business Insider https://ift.tt/3eNvuGe
Subscribe to:
Posts (Atom)
A risky corner of the ETF market has boomed this year as YOLO traders chase the rally
A fund that tracks Nvidia stock is one of the most popular leveraged ETFs. Slaven Vlasic/Getty Images for The New York Times; Chelsea Jia F...
-
Before investing your own money into a small business idea, test it out with your target audience. Georgijevic/Getty Images Having a bu...
-
Krisanapong Detraphiphat/Getty Images; Jenny Change-Rodriguez/BI Illustration Goldman Sachs forecasts muted S&P 500 gains, with a ...
-
REUTERS/Lucas Jackson John Hussman warns of poor S&P 500 returns over the next 12 years. High valuations suggest potential underp...
