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NerdWallet CFO Lauren StClair sells $166,458 in stockListen to a recap of the top stories of the day from 9to5Mac . 9to5Mac Daily is available on iTunes and Apple’s Podcasts app , Stitcher , TuneIn , Google Play , or through our dedicated RSS feed for Overcast and other podcast players. Sponsored by Dreame Technologies: This Black Friday, discover Dreame Technologies’ innovative family of smart home cleaning solutions—designed to revolutionize your cleaning routine! Don’t miss out on groundbreaking deals, plus enjoy an extra 5% off with code DM9to55off at checkout . Experience the future of cleaning today! New episodes of 9to5Mac Daily are recorded every weekday. Subscribe to our podcast in Apple Podcast or your favorite podcast player to guarantee new episodes are delivered as soon as they’re available. Stories discussed in this episode: Apple turns to Amazon chips for AI pre-training and more Spotify Wrapped 2024: your year in songs and podcasts is here Spotify Wrapped 2024 launches with AI Podcast from Google Here’s why Apple Wallet order tracking has probably never worked for you Listen & Subscribe: Apple Podcasts Overcast RSS Spotify TuneIn Google Podcasts Subscribe to support Chance directly with 9to5Mac Daily Plus and unlock: Ad-free versions of every episode Bonus content od Catch up on 9to5Mac Daily episodes! Don’t miss out on our other daily podcasts: Quick Charge 9to5Toys Daily Share your thoughts! Drop us a line at happyhour@9to5mac.com . You can also rate us in Apple Podcasts or recommend us in Overcast to help more people discover the show.
By JUAN A. LOZANO, Associated Press HOUSTON (AP) — An elaborate parody appears to be behind an effort to resurrect Enron, the Houston-based energy company that exemplified the worst in American corporate fraud and greed after it went bankrupt in 2001. If its return is comedic, some former employees who lost everything in Enron’s collapse aren’t laughing. “It’s a pretty sick joke and it disparages the people that did work there. And why would you want to even bring it back up again?” said former Enron employee Diana Peters, who represented workers in the company’s bankruptcy proceedings. Here’s what to know about the history of Enron and the purported effort to bring it back. Once the nation’s seventh-largest company, Enron filed for bankruptcy protection on Dec. 2, 2001, after years of accounting tricks could no longer hide billions of dollars in debt or make failing ventures appear profitable. The energy company’s collapse put more than 5,000 people out of work, wiped out more than $2 billion in employee pensions and rendered $60 billion in Enron stock worthless. Its aftershocks were felt throughout the energy sector. Twenty-four Enron executives , including former CEO Jeffrey Skilling , were eventually convicted for their roles in the fraud. Enron founder Ken Lay’s convictions were vacated after he died of heart disease following his 2006 trial. On Monday — the 23rd anniversary of the bankruptcy filing — a company representing itself as Enron announced in a news release that it was relaunching as a “company dedicated to solving the global energy crisis.” It also posted a video on social media, advertised on at least one Houston billboard and a took out a full-page ad in the Houston Chronicle In the minute-long video that was full of generic corporate jargon, the company talks about “growth” and “rebirth.” It ends with the words, “We’re back. Can we talk?” Enron’s new website features a company store, where various items featuring the brand’s tilted “E” logo are for sale, including a $118 hoodie. In an email, company spokesperson Will Chabot said the new Enron was not doing any interviews yet, but that “We’ll have more to share soon.” Signs point to the comeback being a joke. In the “terms of use and conditions of sale” on the company’s website, it says “the information on the website about Enron is First Amendment protected parody, represents performance art, and is for entertainment purposes only.” Documents filed with the U.S. Patent and Trademark Office show that College Company, an Arkansas-based LLC, owns the Enron trademark. The co-founder of College Company is Connor Gaydos, who helped create a joke conspiracy theory that claims all birds are actually surveillance drones for the government. Peters said that since learning about the “relaunch” of Enron, she has spoken with several other former employees and they are also upset by it. She said the apparent stunt was “in poor taste.” “If it’s a joke, it’s rude, extremely rude. And I hope that they realize it and apologize to all of the Enron employees,” Peters said. Peters, who is 74 years old, said she is still working in information technology because “I lost everything in Enron, and so my Social Security doesn’t always take care of things I need done.” “Enron’s downfall taught us critical lessons about corporate ethics, accountability, and the consequences of unchecked ambition. Enron’s legacy was the employees in the trenches. Leave Enron buried,” she said. Follow Juan A. Lozano on X at https://x.com/juanlozano70
Wall Street stocks surged to fresh records Wednesday on hopes about easing US monetary policy, shrugging off political upheaval in South Korea and France. All three major US indices scored records, with the Dow Jones Industrial Average finishing above 45,000 for the first time. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
Thomas Frank unhappy with officials in game with BrightonLive Nation Entertainment Inc. stock falls Wednesday, underperforms marketKUALA LUMPUR: As Malaysia becomes the first Southeast Asian nation to sign a comprehensive strategic partnership (CSP) with Vietnam, the upgrade in diplomatic relations signals a more united stand against China’s claims in the South China Sea, say analysts. The Southeast Asian nations, both of which have overlapping claims with China in the strategic waterway, stand to gain from signing the CSP, experts told CNA. They added that the announcement of the CSP, widely considered one of the highest levels of diplomatic ties, could pave the way for further relations between Vietnam and other Southeast Asian nations. Dr Nguyen Khac Giang, a visiting fellow from the Vietnam studies programme at the ISEAS - Yusof Ishak Institute, said the enhanced partnership between Hanoi and Putrajaya could signal a “more cohesive ASEAN approach to addressing China's expansionism in the region”. “Vietnam is methodically constructing a network of robust relationships with ASEAN neighbours to achieve strategic equilibrium vis-a-vis China's regional influence,” he told CNA. The signing of the CSP took place during Vietnam’s Communist Party chief To Lam’s official visit to Malaysia from Nov 21 to Nov 23 at the invitation of Prime Minister Anwar Ibrahim. It comes as Malaysia prepares to assume chairmanship of the Association of Southeast Asian Nations (ASEAN) in 2025, making it the first ASEAN state to establish a CSP with fellow member Vietnam. Hanoi began upgrading its bilateral partnerships in 2008, starting with a CSP with Beijing, its first. After the signing, the countries issued a joint statement on Nov 21 pledging further collaboration in defence and security issues, science and technology, green energy, education, human resources development, culture, sports, and tourism. A point that stood out was a promise to work “closely” together to maintain security, stability, safety and freedom of navigation and overflight in the South China Sea, and to promote peaceful settlement of disputes. The statement also mentioned the importance of adhering to international law, including the United Nations Convention on the Law of the Sea and to “refrain from undertaking activities that could escalate tension” in the South China Sea. Vietnam maintains three tiers of diplomatic relationship with other countries: Comprehensive partnerships; strategic partnerships; and comprehensive strategic partnerships (CSP). A CSP is the highest tier. According to an August 2024 Voice of America article on diplomatic relationships, a comprehensive partnership may signal a general intent to cooperate across a broad range of issues, while strategic partnerships may have a narrower but deeper focus on particular sectors such as trade, energy or counterterrorism. “A comprehensive strategic partnership, then, implies both broad-based cooperation and a commitment to specific joint pursuits,” the article said. In March this year, Vietnam signed a CSP with Australia, with both countries pledging to deepen political, defence security and justice cooperation. In a joint statement, the countries promised to enhance economic engagement and strengthen climate cooperation. The countries also expressed concerns on the situation in the South China Sea and reaffirmed their commitment to peace, security, stability, freedom of navigation and overflight, and unimpeded lawful commerce. They also agreed to adhere to legal and diplomatic processes and to the settlement of disputes, including those in the South China Sea, by peaceful means without resorting to the threat or use of force. Then in October, Vietnam established a CSP with France, making it the first European Union country to be accorded the highest level of partnership. It is worth noting, however, that there is no universal international standard for how such diplomatic relationships are defined, with individual countries choosing how to determine them. For instance, some countries and groupings may use similar terms without necessarily implying a tiered approach. In October 2021, the Association of Southeast Asian Nations (ASEAN) accorded CSP status to China and Australia, saying that the new partnerships should be “meaningful, substantive, and mutually beneficial”. While a strategic partnership was understood to be the highest form of engagement between ASEAN and a dialogue partner prior to the CSP, ASEAN insisted that the new term does not confer a hierarchy of status. “ASEAN was clear that the new coveted partnership title is a recognition of the depth and breadth of the dialogue relations and not an upgrade,” Ms Joanne Lin, coordinator of the ASEAN Studies Centre at the ISEAS - Yusof Ishak Institute, wrote in a February 2023 Fulcrum blog post. “As a new nomenclature, it makes little sense that the CSP does not denote an elevation of partnership. One can wonder what value it can bring to a dialogue partner if there is no differentiation in status.” VIETNAM'S CSPS CHINA’S “DIVIDE AND CONQUER” Malaysia needs Vietnam’s better military capabilities to counter Beijing’s growing assertiveness in the South China Sea, while Vietnam could tap into Malaysia’s geographical advantage at key routes in the same sea and the Strait of Malacca, an analyst said. While both countries share a similar “policy dilemma” concerning China, Hanoi commands more “hard power deterrence” and is less dependent on Beijing for economic growth, Mr Collins Chong Yew Keat, a foreign affairs and security analyst at Universiti Malaya, told CNA. On the other hand, Vietnam needs Malaysia’s geographical proximity to “key chokepoints” in the South China Sea and Malacca Strait, with a view towards developing deeper defence and security cooperation, he said. Malaysia and Vietnam see the need to "strengthen political, economic and defence partnership in jointly responding to common threats, and in showing a renewed solidified front against external power pressure", he added. This approach runs counter to what some observers have termed as China’s “divide and conquer” technique when dealing with Southeast Asian claimant states on the South China Sea, most of which Beijing claims within its so-called nine-dash line. Amid escalating hostilities between China and the Philippines in the South China Sea, a conflict in which Manila has firmly chosen to stand with the United States, Beijing has embarked on a series of high-level diplomatic exchanges and defence engagements with individual Southeast Asian nations. Regional states’ negotiations with China over a code of conduct for the South China Sea have remained ongoing since 2002, casting doubt on the consensus-based grouping’s ability to take a decisive stand against Beijing. With Southeast Asian nations including the Philippines and Indonesia also involved in the South China Sea tensions with China, experts did not rule out the countries similarly upgrading their partnerships with Vietnam as a bulwark against Beijing. In January, Vietnam signed an agreement with the Philippines to boost cooperation on maritime security. Then in September, Hanoi and Jakarta agreed to establish a CSP next year. Dr Giang said it would be a “natural progression” for Vietnam to strengthen partnerships with Indonesia and the Philippines next, given how the trio shares concerns about China’s assertiveness in the South China Sea. “The CSP with Malaysia, potentially preceding one with Indonesia and the Philippines, illuminates Hanoi's strategic calculus of fostering solidarity among maritime claimants while reinforcing ASEAN's centrality in maintaining a rules-based order,” he said. The scuffle between China and the Philippines in the disputed and resource-rich Scarborough Shoal shows no signs of slowing down, with both countries’ coast guards trading accusations after the latest maritime confrontation between the neighbours. China's Coast Guard said four Philippine ships had attempted to enter its territorial waters around the shoal on Wednesday, accusing the ships of “dangerously” approaching the coast guard’s “normal law enforcement patrol vessels”, Reuters reported. But the Philippine Coast Guard said Chinese navy and coast guard vessels had taken "aggressive actions" against a routine patrol by it and the fisheries bureau. Indonesia has repeatedly said that it is not a claimant in the South China Sea disputes, with the government reiterating on Nov 11 that it had no overlapping jurisdiction with China. Indonesian president Prabowo Subianto’s recent visit to China yielded a joint statement that said the two countries had "reached important common understanding on joint development in areas of overlapping claims". However, on Monday, Minister of Foreign Affairs Sugiono, who like many Indonesians goes by one name, clarified the statement, maintaining that Indonesia does not recognise China’s claim of Indonesia’s part of South China Sea or North Natuna Sea. “While some regional states may exercise caution due to their particular circumstances, the momentum toward greater collaboration among claimant states is evident,” Dr Giang said. “This trend becomes particularly salient given the increasingly uncertain geopolitical environment and the implications of a second Trump presidency, which may compel ASEAN states to further consolidate their strategic autonomy.” Some analysts believe there is growing concern among Southeast Asian states that US president-elect Donald Trump, who will be inaugurated in January next year, will upend Washington’s longstanding relationships in the Indo-Pacific as he pursues a more isolationist “America first” foreign policy. SETTING DIFFERENCES ASIDE Despite occasional friction in the past, some analysts say the recent CSP is indicative of Malaysia and Vietnam’s common interests and that they have set aside differences. In early October, Malaysia, in a rare rebuke, sent a complaint letter to Vietnam over the latter’s alleged expansion of a South China Sea reef that both countries claim as their own, Reuters reported in November. Hanoi has remained silent on the complaint, in what analysts say reflects a careful diplomatic strategy to avoid jeopardising its relationship with an ASEAN neighbour, the South China Morning Post reported on Nov 7. “While both countries do have overlapping claims in the South China Sea, they are also smaller nations that stand to benefit from a robust rules-based international order,” Dr Francis Hutchinson, coordinator of the Malaysia studies programme at ISEAS - Yusof Ishak Institute, told CNA. “Consequently, it is in both nations’ interests to promote the upholding of international law, the freedom of navigation, and respect for sovereignty and territorial integrity.” Both Vietnam and Malaysia continue to maintain lucrative economic ties with China even as they push back against Beijing’s maritime claims. “The usage of ‘bamboo diplomacy’ has also ensured that Vietnam continues to maintain a balanced approach and in advocating for peace and stability with different powers,” said Mr Chong, referring to Hanoi’s strategy of flexibility when balancing competing geopolitical interests. “This concept aligns well with Malaysia’s long-held diplomatic position and reach of non-alignment, and the mantra of peaceful co-existence in preventing conflicts and threats through diplomatic approach.” MALAYSIA TOP CHOICE FOR VIETNAM While Vietnam has CSPs with eight other countries, including global and regional powers such as China, the US, Japan and South Korea, it is notable that Putrajaya has become the first ASEAN member. “This can be seen as a drive from Vietnam’s side to deepen its relationships with a wide range of players, organisations and groupings,” Dr Hutchinson said. Malaysia remains an important trading partner for Vietnam, and more pertinently will be ASEAN chair in 2025, the analyst highlighted. “As such, Malaysia will have considerable influence over what issues are discussed in ministerial meetings and how ASEAN communiques are structured and worded,” he added. “This is a likely reason why out of all ASEAN members, Malaysia was approached first.” In 2023, Singapore and Vietnam also agreed to upgrade their strategic partnership, established in 2013, to a CSP. On a visit to Vietnam last month, Singaporean Ambassador to Vietnam Jaya Ratnam said that Singapore hopes to elevate its relationship with Vietnam to this status by 2025. Singapore is not a claimant in the South China Sea and its Minister for Foreign Affairs Vivian Balakrishnan has said that “we do not take sides in the competing territorial and maritime claims”. Mr Chong said Malaysia could capitalise on Vietnam’s strengths and elevating strategic partnerships to emerge as a joint economic powerhouse and a stabilising force in regional and global geopolitics. “Both remain among the top destinations in attracting the next spectrum of top investments and inflow of trade and critical technology and industries, with the growing exodus of top firms from China,” he added. “This will create a spillover and ripple impact from economic integration and joint development into the spheres of defence and security.”
GENEVA (AP) — World Cup sponsor Bank of America teamed with FIFA for a second time Tuesday, signing for the Club World Cup that still has no broadcast deals just over six months before games start. Bank of America became FIFA’s first global banking partner in August and sealed a separate deal for a second event also being played in the United States, two days before the group-stage draw in Miami for the revamped 32-team club event . It features recent European champions Real Madrid, Manchester City and Chelsea. “FIFA is going to take America by storm and we’re going to be right at their side,” the bank’s head of marketing, David Tyrie, said in a telephone interview Tuesday. Bank of America joins 2026 World Cup sponsors Hisense and Budweiser brewer AB InBev in separately also backing the club event, and more deals are expected after Saudi Arabia is confirmed next week as the 2034 World Cup host. While games at the next World Cup, co-hosted with Canada and Mexico, will be watched by hundreds of millions globally mostly on free-to-air public networks, the Club World Cup broadcast picture is unclear. FIFA has promised hundreds of millions of dollars in prize money for the 32 clubs to share but is yet to announce any broadcast deals for the month-long tournament. It is expected to land on a streaming service. “You have to think about how you are going to connect with these fans,” Tyrie told the Associated Press from Boston. “TV is one, sure, social media is a big avenue. “The smart marketing capabilities are able to say ‘Hey, we need to tilt this one a little bit more away from TV-type marketing into social-type marketing.’ We have got a pretty decent strategy that we’re putting in place to do activation.” Engaging Bank of America’s customers and 250,000 employees are key to that strategy, Tyrie said. “It’s going to be for our clients, and entertainment, it’s going to be for our employees in creating excitement. All of the above.” The Club World Cup will be played in 12 stadiums across 11 cities, including Bank of America Stadium in Charlotte, N.C, and Lumen Field where the hometown Seattle Sounders play three group-stage games. European powers Madrid, Man City and Bayern Munich lead a 12-strong European challenge. Teams qualified by winning continental titles or posting consistently good results across four years of those competitions. The exception is Lionel Messi’s Inter Miami, who FIFA gave the entry reserved for a host nation team in October based on regular season record without waiting for the MLS Cup final. LA Galaxy hosts New York Red Bulls playing for that national title Saturday. Messi’s team opens the FIFA tournament June 15 in the Miami Dolphins’ Hard Rock Stadium and will play its three group games in Florida. “The more brand players you bring in, the bigger the following you have got,” Tyrie acknowledged, though adding Messi being involved was “not a make or break for the event.” The Club World Cup final is July 13 at Met Life Stadium near New York, which also will host the World Cup final one year later. AP soccer: https://apnews.com/hub/soccer
Did anything good happen in 2024? Actually, yes!Lawmakers attend a plenary session at National Assembly in Seoul, Dec. 5. Yonhap A motion to impeach President Yoon Suk Yeol over his short-lived martial law declaration was reported to the National Assembly's plenary session Thursday, a parliamentary procedure that set the stage for a full-house vote this week. Tabled by 190 opposition party lawmakers and one independent, the motion was reported to the session at around 12:48 a.m. It came less than a day after Yoon rescinded his martial law order following the legislature's passage of a resolution to overturn the order. By law, a motion must be put to a vote 24 hours after the reporting procedure, and within 72 hours of the reporting. A vote on the motion can proceed as early as 12:49 a.m. on Friday. In proposing the motion to parliament, opposition lawmakers alleged that Yoon's martial law declaration constituted violations of the Constitution and other laws concerning principles of popular sovereignty and of the separation of powers. President faces impeachment after bungled martial law declaration 2024-12-04 16:41 | Politics Ruling People Power Party to oppose Yoon's impeachment 2024-12-05 01:13 | Politics They also claimed that the martial law decree infringed upon freedom of expression as it put all media and publishing outlets under the control of the martial law command and banned strikes and protests. The opposition camp plans to hold the vote on the motion as quickly as possible. To pass the motion, a majority of all 300 lawmakers must table it to the Assembly with two thirds of them required for its final endorsement. The number of opposition lawmakers, including National Assembly Speaker Woo Won-sik and independent Rep. Kim Jong-min, stands at 192. To pass the motion, support from eight lawmakers of the ruling People Power Party is needed. But the ruling party has made a decision against the impeachment motion. Should the motion pass, Yoon's presidential job would be suspended immediately. The surprise declaration of martial law on Tuesday night came after the opposition Democratic Party of Korea railroaded a downsized budget bill in the parliamentary budget committee, and submitted impeachment motions against a state auditor and the chief prosecutor. (Yonhap)Ameriprise Financial Inc. stock rises Friday, still underperforms market
More Americans Want J6ers Pardoned, as 68 Percent of Dems Support Case-by-Case Reviews if Pardons Go Forward