Jose Garcia
Jose Garcia's JournalAmerican Airlines' focus on ESG in 401(k) plan is illegal, US judge rules
Source: Reuters
Jan 10 (Reuters) - A federal judge in Texas on Friday said American Airlines (AAL.O), opens new tab violated federal law by basing investment decisions for its employee retirement plan on environmental, social and other non-financial factors.
The ruling by U.S. District Judge Reed O'Connor appeared to be the first of its kind amid growing backlash by conservatives to an uptick in socially-conscious investing.
O'Connor said American had breached its legal duty to make investment decisions based solely on the financial interests of 401(k) plan beneficiaries by allowing BlackRock (BLK.N), opens new tab, its asset manager and a major shareholder, to focus on environmental, social and corporate governance (ESG) factors.
"The evidence made clear that [American’s] incestuous relationship with BlackRock and its own corporate goals disloyally influenced administration of the Plan," wrote O'Connor, an appointee of
Read more: https://www.reuters.com/business/aerospace-defense/american-airlines-focus-esg-401k-plan-is-illegal-us-judge-rules-2025-01-10/
US Announces $25M Reward for Arrest of Venezuela's Maduro
Source: Newsweek
The United States has announced a $25 million reward for information leading to the arrest or conviction of Nicolás Maduro, coinciding with the day he was sworn in as president of Venezuela, the BBC has reported.
Maduro, chosen by the late socialist icon Hugo Chávez to succeed him in 2013, has overseen Venezuela's decline into economic chaos. Accused of corruption, human rights violations, and drug trafficking, he continues to cling to power while suppressing dissent.
The U.S. reward highlights a renewed push to destabilize Maduro's presidency and bolster the opposition's bid to restore democracy.
Only a handful of nations, including Russia, have recognized Maduro as the winner of Venezuela's July election. In contrast, the United States and the European Parliament have declared Edmundo González the "president-elect," further challenging Maduro's authority.
Read more: https://www.newsweek.com/us-announces-25m-reward-arrest-venezuelas-maduro-2013170
Man arrested trying to enter U.S. Capitol with machete as Carter lies in state
Source: CNBC
U.S. Capitol Police said they arrested a man trying to enter the Capitol complex with a machete and three knives Wednesday as former President Jimmy Carter lay in state.
This is breaking news. Please refresh for updates.
Read more: https://www.cnbc.com/2025/01/08/man-arrested-trying-to-enter-us-capitol-with-machete-as-carter-lies-in-state.html
Meta is ending its fact-checking program in favor of a 'community notes' system similar to X
Source: MSN
Meta is scrapping its fact-checking program with trusted partners and replacing it with a community-driven system similar to X’s Community Notes, CEO Mark Zuckerberg said Tuesday.
The change will affect Facebook and Instagram, two of the largest social media platforms in the world, each boasting billions of users, as well as Threads.
"We're gonna get back to our roots and focus on reducing mistakes, simplifying our policies and restoring free expression on our platforms," Zuckerberg said in a video. "More specifically, here's what we're going to do. First, we're going to get rid of fact checkers and replace them with community notes similar to X, starting in the U.S."
Zuckerberg pointed to the election as a major influence on the company's decision, and criticized "governments and legacy media" for allegedly pushing "to censor more and more."
Read more: https://www.google.com/amp/s/www.nbcnews.com/news/amp/rcna186468
Part of Warren Buffett's empire just got sued by the US government
Source: CNN
The US government has sued a unit of Warren Buffett’s Berkshire Hathaway, accusing it of pushing borrowers into unaffordable loans—so customers would buy homes from the company’s manufactured housing business.
The U.S. Consumer Financial Protection Bureau filed the lawsuit Monday against Berkshire’s Clayton Homes manufactured housing division. The complaint alleges that Vanderbilt Mortgage and Finance, a unit of Clayton, ignored “clear and obvious red flags” that borrowers could not afford their loans.
Many borrowers incurred late fees and penalties when they fell behind on payments, and had their homes repossessed or filed for bankruptcy after their loans went into default, the CFPB said.
Vanderbilt unreasonably underestimated borrowers’ ability to pay other debts and keep food on the table, the agency alleged. In one instance, Vanderbilt allegedly approved a home loan for a couple with three children that left them with $57.78 a month for discretionary spending after paying expenses—and the couple eventually defaulted, says the complaint.
Read more: https://www.cnn.com/2025/01/06/business/part-of-warren-buffetts-empire-just-got-sued-by-the-us-government/index.html
Canada PM Trudeau to announce resignation as early as Monday, Globe and Mail reports
Source: Reuters
Jan 5 (Reuters) - Canadian Prime Minister Justin Trudeau is expected to announce as early as Monday that he will resign as Liberal Party Leader, The Globe and Mail reported on Sunday, citing three sources.
The sources told the Globe and Mail that they don't know definitely when Trudeau will announce his plans to leave but said they expect it will happen before a key national caucus meeting on Wednesday.
The Canadian prime minister's office did not immediately respond to a request for comment outside regular business hours.
It remains unclear whether Trudeau will leave immediately or stay on as prime minister until a new leader is selected, the report added.
Read more: https://www.reuters.com/world/americas/canada-pm-trudeau-announce-resignation-early-monday-globe-mail-reports-2025-01-06/
New Orleans attack suspect named, accused of killing at least 10, injuring dozens
Source: Nola.com
The suspect accused of plowing a truck through a crowd on Bourbon Street early Wednesday morning has been identified by a law enforcement source as 42-year-old Shamsud Din Jabbar.
Police fatally shot him after the attack, which killed 10 people and injured 35.
The source said Jabbar was carrying an ISIS flag in the truck, and authorities have said he was dressed in military gear.
Law enforcement said they are investigating the possibility that the attack involved multiple suspects. They are looking into whether a different suspect rented the truck used in the attack.
Read more: https://www.nola.com/news/crime_police/new-orleans-suspect-bourbon-street-attack/article_d90e3452-c85f-11ef-a68f-f30b3ad49828.html
Biden donor weighs third-party bid for Florida governor
Orlando-based attorney and former President Biden donor John Morgan is weighing a third-party run for Florida governor in 2026.
Morgan, who switched his registration from Democrat to independent, told The Hill on Monday that many have urged him to run following his success in leading two separate statewide ballot measures to legalize medical marijuana in 2016 and to raise the state’s minimum wage in 2020.
“My success with two statewide ballot initiatives I think has given some people a look at me,” Morgan said in an email. “But a ballot initiative is far different than an election,” he continued, adding “an election is much more cut throat.”
Morgan told Politico earlier this month that he was considering launching a bid under the banner of “the Capitalist Party.” On Monday he appeared to float running under what he called “the People’s Party.”
More: https://www.google.com/amp/s/thehill.com/homenews/campaign/5060171-orlando-based-attorney-considers-gubernatorial-run/amp/
Second Florida Democratic lawmaker switches to GOP
Source: The Hill
A second Democratic Florida legislator has switched parties to the GOP this month, citing her former party’s lack of unified support for Israel.
State Rep. Hillary Cassel (R) said in a Friday statement on the social platform X that she is not making the decision lightly, but she is joining the Republican Party because she believes in its “vision for a better, more prosperous Florida.”
“As a proud Jewish woman, I have been increasingly troubled by the Democratic Party’s failure to unequivocally support Israel and its willingness to tolerate extreme progressive voices that justify or condone acts of terrorism,” Cassel said. “I’m constantly troubled by the inability of the current Democratic Party to relate to everyday Floridians.”
“I can no longer remain in a party that doesn’t represent my values,” she continued.
Read more: https://www.google.com/amp/s/thehill.com/homenews/state-watch/5057873-second-florida-democratic-lawmaker-switches-to-gop/amp/
Biden administration withdraws proposed rule limiting transgender bans in sports
Source: MSN
(Reuters) - The Biden administration on Friday withdrew a proposed rule change that would have prohibited schools from banning transgender athletes from teams matching their gender identities.
The administration notified the public that it had withdrawn the proposed rule in the Federal Register.
The administration had proposed the rule in April 2023, inviting the public to comment. It said on Friday that it had received more than 150,000 public replies.
Many of the comments were against the proposed rule, the administration wrote in its Federal Register filing. That, along with multiple pending lawsuits related to gender identity and sports, led the administration "not to regulate on this issue at this time."
Read more: https://www.msn.com/en-us/news/politics/biden-administration-withdraws-proposed-rule-limiting-transgender-bans-in-sports/ar-AA1wfMuq?ocid=BingNewsBrowse
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