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Turmoil

All articles tagged with #turmoil

finance1 year ago

NYCB Stock Plunges Amid CEO Change and Internal Controls Issue

Real-estate lender NYCB is in turmoil after announcing a surprise net loss, appointing a new CEO, and revealing material weaknesses in its internal controls. The bank is retroactively booking a $2.4 billion goodwill impairment charge and will file its 2023 annual report late. These disclosures caused NYCB shares to plummet 20% in after-hours trade, following a 53% decline year to date. The troubles are raising concerns about the bank's loans and assets in the real-estate sector, particularly in commercial properties, amid challenges from remote work and higher borrowing costs.

via Business Insider|
#banking#finance#nycb
politics2 years ago

"Top strategist Jeff Roe resigns from DeSantis-linked super PAC amid turmoil"

Florida Governor Ron DeSantis' campaign severs ties with the top strategist of his well-funded super PAC, Never Back Down, due to tensions and alleged false statements. The strategist, Jeff Roe, cited unwanted distractions and a critical time for DeSantis as reasons for his departure. The super PAC has experienced internal turmoil, with multiple resignations and firings in recent weeks. The governor's frustration with his campaign's lack of progress against Trump and the rise of Nikki Haley led to the creation of a second super PAC, Fight Right, to handle advertising.

via NBC News|
#politics#ron-desantis#strategist
politics2 years ago

"Florida GOP Chair Faces Mounting Pressure Amidst Sexual Assault Allegations"

Turmoil within the Florida Republican Party continues as details emerge of a sexual assault allegation against the party chairman, Christian Ziegler. An affidavit filed in court recounts that a woman accused Ziegler of assaulting her in her apartment in October. While an active investigation is underway, no charges have been filed, and Ziegler denies any wrongdoing. Governor Ron DeSantis has called for Ziegler's resignation, and Ziegler himself claims to be the target of false allegations and vows to continue his political mission.

via The New York Times|
#christian-ziegler#florida-republican-party#investigation
conflicttechnology2 years ago

"Tech Incubator Led by Deval Patrick Faces Disruption Amid Mideast War"

The tech incubator, Our Generation Speaks (OGS), chaired by former Massachusetts Governor Deval Patrick, is facing disruption as the Israeli-Palestinian conflict escalates. Israeli graduates of OGS have accused the organization of failing to take a decisive stance against alums who expressed support for the attacks by Hamas. Palestinian alums have requested a formal statement expressing concern for innocent lives affected by the crisis. The dispute reflects the challenges faced by various institutions amid the intensifying conflict. OGS CEO Lobna Agbaria stated that any alumni expressing support for terrorism would be expelled. Some Palestinian members have asked to withdraw from the alumni network due to the dangerous situation in Gaza. Patrick emphasized the importance of protecting the safety of all involved and supporting future connections.

via POLITICO|
#conflicttechnology#deval-patrick#israeli-palestinian-conflict
politics2 years ago

Steve Scalise's Withdrawal Deepens Turmoil in House Speaker Race

Majority Leader Steve Scalise has withdrawn from the race to become House speaker, further destabilizing the House of Representatives. Scalise's decision comes after he won the GOP's nomination for the position, but failed to gain enough support from his colleagues. The withdrawal leaves the House Republicans in disarray, with no clear candidate to unify the fractured majority. The party will hold another private meeting to nominate a new candidate, with Rep. Jim Jordan emerging as a potential choice. However, it remains uncertain if Jordan can secure the necessary votes to become speaker.

via NBC News|
#gop#house-speaker#politics
sports2 years ago

"Bears' Bizarre Day at Halas Hall: A Defining Moment for the 2023 Season"

The Chicago Bears' tumultuous day at Halas Hall included quarterback Justin Fields critiquing the coaching staff's game plan, head coach Matt Eberflus addressing injuries and defensive coordinator Alan Williams' resignation, and rumors of an FBI raid. Fields clarified his comments, taking ownership of his struggles, while the team dealt with internal turmoil. The chaotic day is likely to define the Bears' 2023 season, regardless of the outcome.

via NBC Sports Chicago|
#chicago-bears#coaching#justin-fields
military2 years ago

Russian Military in Turmoil: Understanding the Implications

Major General Ivan Popov, a top Russian army official, claims he was fired for his honesty about the mismanagement of the war in Ukraine and accused the defense ministry of betraying troops. Popov's allegations highlight the widespread discontent within the Russian military, which has recently seen several incidents, including the killing of a commander in an airstrike, the disappearance of another following a mutiny, and the accusation of treason against top brass. Russian President Vladimir Putin reportedly offered Wagner soldiers the opportunity to join the Russian military, but some commanders refused. The whereabouts of General Sergei Surovikin, who allegedly had prior knowledge of the mutiny, remain unknown.

via Yahoo Finance|
#incompetence#military#russian-military
securityinternational-relations2 years ago

Wagner Group's Alarming Video Reveals Readiness for Global Chaos

A video allegedly recorded by a Wagner Group field commander, known as "Berserk," suggests that the paramilitary organization led by Yevgeny Prigozhin is prepared for global events and turmoil. The authenticity of the video has not been verified, and Russia's Foreign Ministry has been contacted for comment. Prigozhin recently led a march towards Moscow but pulled back after a deal was brokered by Belarusian President Alexander Lukashenko. The video hints at a potential alliance with the Akhmat special forces unit led by Chechen leader Ramzan Kadyrov. The Kremlin has downplayed Prigozhin's rebellion, with President Putin stating that "Wagner does not exist" due to the absence of a law on private military organizations in Russia.

via Newsweek|
#global-events#paramilitary#securityinternational-relations
international-relations2 years ago

China's Concerns Grow as Russia's Turmoil Threatens Global Diplomatic Push

The turmoil in Russia is undermining China's global diplomatic push, as the instability in Russia raises concerns about the reliability of its partnerships and the potential impact on China's strategic interests. China's efforts to expand its influence on the global stage are being hindered by the political and economic uncertainties in Russia, which is a key partner in China's Belt and Road Initiative and a crucial player in the Shanghai Cooperation Organization. The instability in Russia is causing China to reassess its diplomatic strategies and seek alternative partnerships to ensure the success of its global ambitions.

via The Wall Street Journal|
#china#global-diplomacy#international-relations
finance2 years ago

Russia's Political Turmoil and Mutiny Threaten Global Oil and Gas Prices

Crude oil prices experienced a slight increase after Russia's private army, Wagner Group, aborted its march towards Moscow, potentially averting an attempted coup on Russian leader Vladimir Putin. The future of oil prices will depend on how the weekend's turmoil unfolds, with market concerns focused on the impact on Russian oil production and exports. Some analysts believe the situation could be bearish for oil markets, as Putin may try to export as much oil as possible to raise funds. Crude oil prices have already declined significantly since their peak in 2021, and experts predict further downward pressure due to factors such as central banks tightening monetary policy and China's lackluster recovery from COVID-19 lockdowns.

via Yahoo Finance|
#crude-oil#finance#market-volatility
politics2 years ago

Miami Commissioner Joe Carollo Faces $65M Verdict Amid Mayor's Presidential Ambitions.

Miami Mayor Francis Suarez is considering a Republican presidential run, touting the city's strong economy and low taxes. However, a recent trial against a city commissioner has exposed the inner workings of a local government mired in turmoil, with City Hall being described as a toxic workplace rife with dysfunction. The trial and its revelations came at a pivotal moment, as Miami teems with new residents whose arrival has put pressure on services, housing, and roadways. The mayor was not implicated in the trial, but a national campaign would bring new scrutiny to the problems at City Hall under his watch.

via The New York Times|
#city-hall#mayor-francis-suarez#miami
business2 years ago

Climate Alliance Exodus Sparks Insurance Industry Turmoil.

The insurance industry is facing turmoil as several major players have withdrawn from a climate alliance aimed at addressing environmental risks. The move has sparked concerns about the industry's commitment to corporate responsibility and its ability to manage climate-related risks. The alliance, which includes over 50 insurers and reinsurers, aims to promote sustainable business practices and encourage companies to take action on climate change.

via Financial Times|
#business#climate-alliance#corporate-responsibility
finance2 years ago

Fed warns of credit crunch risk amid bank turmoil and economic slowdown.

The Federal Reserve has warned of the risk of a credit crunch following the recent turmoil in US banks. The central bank has urged lenders to maintain strong risk management practices and to be prepared for potential losses. The warning comes as several US banks have reported significant losses due to the collapse of Archegos Capital Management.

via Financial Times|
#credit-crunch#federal-reserve#finance