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Founder of failed crypto lending platform Celsius Network pleads guilty to fraud charges NEW YORK (AP) — The founder and former CEO of the failed cryptocurrency lending platform Celsius Network has pleaded guilty to federal fraud charges, admitting that he misled customers about the business. Alexander Mashinsky entered the plea Tuesday in Manhattan federal court to commodities and securities fraud. He admitted illegally manipulating the price of Celsius’ proprietary crypto token while secretly selling his own tokens at inflated prices. A plea agreement Mashinsky reached with prosecutors calls for him to be sentenced to up to 30 years in prison. Sentencing was scheduled for April 8. Celsius filed for bankruptcy in 2022. A judge has once again rejected Musk's multi-billion-dollar Tesla pay package. Now what? DETROIT (AP) — For a second time, a Delaware judge has nullified a pay package that Tesla had awarded its CEO, Elon Musk, that once was valued at $56 billion. On Monday, Chancellor Kathaleen St. Jude McCormick turned aside a request from Musk’s lawyers to reverse a ruling she announced in January that had thrown out the compensation plan. The judge ruled then that Musk effectively controlled Tesla’s board and had engineered the outsize pay package during sham negotiations. Lawyers for a Tesla shareholder who sued to block the pay package contended that shareholders who had voted for the 10-year plan in 2018 had been given misleading and incomplete information. US job openings rose last month, though hiring slowed, in mixed picture for labor market WASHINGTON (AP) — The number of job postings in the United States rebounded in October from a 3 1/2 year low in September, a sign that businesses are still seeking workers even though hiring has cooled. Openings rose 5% to 7.7 million from 7.4 million in September. The increase suggests that job gains could pick up in the coming months. Still, the latest figure is down significantly from 8.7 million job postings a year ago. Last month, job openings rose sharply in professional and business services, a category that includes engineers, managers, and accountants, as well as in the restaurant and hotel and information technology industries. Trump vows to block Japanese steelmaker from buying US Steel, pledges tax incentives and tariffs HARRISBURG, Pa. (AP) — President-elect Donald Trump is underscoring his intention to block the purchase of U.S. Steel by Japanese steelmaker Nippon Steel Corp., and he’s pledging to use tax incentives and tariffs to strengthen the iconic American steelmaker. Trump said during the campaign that he would “instantaneously” block the deal, and he reiterated that sentiment in a Monday night statement. President Joe Biden also opposes Nippon Steel’s purchase of Pittsburgh-based U.S. Steel. A secretive U.S. committee is reviewing the transaction for national security concerns, and federal law gives the president the power to block the transaction. Nippon Steel is pledging to invest in U.S. Steel’s factories and strengthen the American steel industry. Stock market today: Wall Street inches higher to set more records NEW YORK (AP) — U.S. stocks tiptoed to more records after a quiet day of trading. The S&P 500 edged up by 2 points, or less than 0.1%, on Tuesday to set an all-time high for the 55th time this year. The Dow Jones Industrial Average slipped 0.2%, while the Nasdaq composite added 0.4% to its own record set a day earlier. Treasury yields held relatively steady after a report showed U.S. employers were advertising slightly more job openings at the end of October than a month earlier. The South Korean won sank against the dollar after its president declared martial law and then later said he’ll lift it. China bans exports to US of gallium, germanium, antimony in response to chip sanctions BANGKOK (AP) — China has announced a ban on exports to the United States of gallium, germanium and other key high-tech materials with potential military applications. The Chinese Commerce Ministry announced the move after the Washington expanded its list of Chinese companies subject to export controls on computer chip-making equipment, software and high-bandwidth memory chips. Such chips are needed for advanced applications. Beijing earlier had required exporters to apply for licenses to send strategically important materials such as gallium, germanium and antimony to the U.S. The 140 companies newly included in the U.S. so-called “entity list” subject to export controls are nearly all based in China. Small business owners brace for Trump's proposed tariffs Small businesses are bracing for stiff tariffs that President-elect Donald Trump has proposed as one of his first actions when he takes office. Trump has proposed importers pay a 25% tax on products entering the country from Canada and Mexico, and an additional 10% tariff on goods from China, as one of his first executive orders. This means small businesses may end up paying more for goods and services. Small business owners say they’re waiting to see what final form the tariffs take, but are bracing for higher costs that they may in turn need to pass on to consumers. A top Fed official leans toward December rate cut but says it depends on economic data WASHINGTON (AP) — A top Federal Reserve official says he is leaning toward supporting an interest rate cut when the Fed meets in two weeks but that evidence of persistent inflation before then could cause him to change that view. Speaking at George Washington University, Christopher Waller, a key member of the Fed’s Board of Governors, said he was confident that inflation is headed lower and that the central bank will likely keep reducing its key rate, which affects many consumer and business loans. But he noted that there’s a risk that inflation “may be getting stuck above” the Fed’s 2% target, which would support an argument for keeping the Fed’s rate unchanged this month. US closes investigation into E. coli outbreak linked to onions in McDonald's Quarter Pounders The federal government has closed its investigation into an E. coli outbreak tied to McDonald’s Quarter Pounder hamburgers after determining there is no longer a safety risk. The outbreak began in late October and sickened at least 104 people in 14 states, including 34 who were hospitalized, according to the U.S. Food and Drug Administration. One person in Colorado died and four people developed a potentially life-threatening kidney disease complication. The FDA linked the outbreak to yellow onions distributed by California-based Taylor Farms and served raw on Quarter Pounders at McDonald’s restaurants in Colorado, Kansas, Wyoming and other states. McDonald’s briefly pulled Quarter Pounders from one-fifth of its U.S. restaurants. Melinda French Gates plans to match $1M in GivingTuesday gifts to groups that support women NEW YORK (AP) — Melinda French Gates is offering to match up to $1 million in gifts to two nonprofit organizations to help spur donations on GivingTuesday. The Tuesday after Thanksgiving, GivingTuesday has become a major annual fundraising day for nonprofits. Through her organization Pivotal Ventures, French Gates will match up to $500,000 in donations to the Vote Mama Foundation and the Rosalynn Carter Institute for Caregivers. In an interview with The Associated Press, she said, “It’s a great time to remind people that we’re better off when we give something back and we all have something to give back."US budget airlines are struggling. Will pursuing premium passengers solve their problems? DALLAS (AP) — Delta and United Airlines have become the most profitable U.S. airlines by targeting premium customers while also winning a significant share of budget travelers. That is squeezing smaller low-fare carriers like Spirit Airlines, which filed for bankruptcy protection on Monday. Some travel industry experts think Spirit’s troubles indicate less-wealthy passengers will have fewer choices and higher prices. Other discount airlines are on better financial footing but also are lagging far behind the full-service airlines when it comes to recovering from the COVID-19 pandemic. Most industry experts think Frontier and other so-called ultra-low-cost carriers will fill the vacuum if Spirit shrinks, and that there's still plenty of competition to prevent prices from spiking. Bitcoin ticks closer to $100,000 in extended surge following US elections NEW YORK (AP) — Bitcoin is jumping again, setting another new high above $99,000 overnight. The cryptocurrency has been shattering records almost daily since the U.S. presidential election, and has rocketed more than 40% higher in just two weeks. It's now at the doorstep of $100,000. Cryptocurrencies and related investments like crypto exchange-traded funds have rallied because the incoming Trump administration is expected to be more “crypto-friendly.” Still, as with everything in the volatile cryptoverse, the future is hard to predict. And while some are bullish, other experts continue to warn of investment risks. Australia rejects Elon Musk's claim that it plans to control access to the internet MELBOURNE, Australia (AP) — An Australian Cabinet minister has rejected X Corp. owner Elon Musk’s allegation that the government intends to control all Australians' access to the internet through legislation that would ban young children from social media. Treasurer Jim Chalmers said on Friday that Musk’s criticism was “unsurprising” after the government introduced legislation to Parliament that would fine platforms including X up to $133 million for allowing children under 16 to hold social media accounts. The spat continues months of open hostility between the Australian government and the tech billionaire over regulators’ efforts to reduce public harm from social media. Parliament could pass the legislation as soon as next week. Oil company Phillips 66 faces federal charges related to alleged Clean Water Act violations LOS ANGELES (AP) — Oil company Phillips 66 has been federally indicted in connection with alleged violations of the Clean Water Act in California. The Texas-based company is accused of discharging hundreds of thousands of gallons of industrial wastewater containing excessive amounts of oil and grease. The U.S. Department of Justice announced the indictment on Thursday. Phillips is charged with two counts of negligently violating the Clean Water Act and four counts of knowingly violating the Clean Water Act. An arraignment date has not been set. A spokesperson for the company said it was cooperating with prosecutors. US regulators seek to break up Google, forcing Chrome sale as part of monopoly punishment U.S. regulators want a federal judge to break up Google to prevent the company from continuing to squash competition through its dominant search engine after a court found it had maintained an abusive monopoly over the past decade. The proposed breakup floated in a 23-page document filed late Wednesday by the U.S. Justice Department calls for Google to sell its industry-leading Chrome web browser and impose restrictions designed to prevent Android from favoring its search engine. Regulators also want to ban Google from forging multibillion-dollar deals to lock in its dominant search engine as the default option on Apple’s iPhone and other devices. What you need to know about the proposed measures designed to curb Google's search monopoly U.S. regulators are proposing aggressive measures to restore competition to the online search market after a federal judge ruled that Google maintained an illegal monopoly. The sweeping set of recommendations filed late Wednesday could radically alter Google’s business. Regulators want Google to sell off its industry-leading Chrome web browser. They outlined a range of behavioral measures such as prohibiting Google from using search results to favor its own services such as YouTube, and forcing it to license search index data to its rivals. They're not going as far as to demand Google spin off Android, but are leaving that door open if the remedies don't work. Stock market today: Wall Street gains ground as it heads for a winning week Stocks gained ground on Wall Street, keeping the market on track for its fifth gain in a row. The S&P 500 was up 0.3% in afternoon trading Friday. The Dow Jones Industrial Average climbed 352 points and the Nasdaq composite rose 0.1%. Retailers had some of the biggest gains. Gap soared after reporting quarterly results that easily beat analysts' estimates. EchoStar fell after DirecTV called of its purchase of that company's Dish Network unit. European markets were mostly higher and Asian markets ended mixed. Treasury yields held relatively steady in the bond market. Crude oil prices gained ground. Apple and Google face UK investigation into mobile browser dominance LONDON (AP) — A British watchdog says Apple and Google aren't giving consumers a genuine choice of mobile web browsers. The watchdog's report Friday recommends they face an investigation under new U.K. digital rules taking effect next year. The Competition and Markets Authority took aim at Apple, saying the iPhone maker’s tactics hold back innovation by stopping rivals from giving users new features like faster webpage loading. The CMA’s report also found that Apple and Google manipulate the choices given to mobile phone users to make their own browsers “the clearest or easiest option.” Apple said it disagreed with the findings. German auto supplier Bosch to cut 5,500 jobs in further sign of carmakers' woes FRANKFURT, Germany (AP) — Germany's technology and services company Bosch is cutting its automotive division workforce by as many as 5,500 jobs in the next several years, in another sign of the headwinds hitting the German and global auto industries. The company cited stagnating global auto sales, too much factory capacity in the auto industry compared to sales prospects and a slower than expected transition to electric-powered, software-controlled vehicles. Some 3,500 of the job reductions would come before the end of 2027 and would hit the part of the company that develops driver assistance and automated driving technologies. About half those job reductions would be at locations in Germany. At least 15 people are sick in Minnesota from ground beef tied to E. coli recall U.S. health officials say at least 15 people in Minnesota have been sickened by E. coli poisoning tied to a national recall of more than 160,000 pounds of potentially tainted ground beef. Detroit-based Wolverine Packing Co. recalled the meat this week after Minnesota state agriculture officials reported multiple illnesses and found that a sample of the product tested positive for E. coli O157:H7, which can cause life-threatening infections. Symptoms of E. coli poisoning include fever, vomiting, diarrhea and signs of dehydration.At its meeting Tuesday, the county Board of Supervisors approved the first of two readings of housing rule changes that allow for ministerial — or streamlined — approval of developments with no more than two primary units in a single-family zone, subdividing a single-family parcel into two, or both for a total of four units.
NEW YORK (AP) — The New York Mets wanted Juan Soto to know his future with them could be set in stone. When the free agent outfielder traveled to owner Steve Cohen's house in Beverly Hills, California, for a presentation last month, the team unveiled a video that included an image of a future Soto statue outside Citi Field, next to the one erected of franchise great Tom Seaver . “Everything that they showed me, what they have, what they want to do, it was incredible,” Soto said. “But my favorite part was the video.” Soto was introduced at Citi Field on Thursday, a day after his record $765 million, 15-year contract was finalized. Speaking in the Piazza 31 Club, he was flanked by Mets owner Steve Cohen, president of baseball operations David Stearns and agent Scott Boras. Security men in gray suits wearing earpieces were off to the side. The slugger walked in led by Boras, wearing a dark suit, black turtle neck shirt and gold chain with his No. 22. Soto picked the Mets over the New York Yankees, Los Angeles Dodgers, Boston Red Sox and Toronto Blue Jays. His deal includes a luxury suite and four premium tickets for home games , all for free, and personal team security for the four-time All-Star and his family at the team’s expense for all spring training and regular-season home and road games. “My family is really important for me. Without them, I probably wouldn't have been here,” Soto said. “It's one of the biggest things.” Boras had asked for those sweeteners. “We included it at the beginning," Cohen said. “He made a request and we were happy to provide.” The crosstown Yankees, who reached the World Series for the first time since 2009 in part because of Soto, refused to consider the concept. “Some high-end players that make a lot of money for us, if they want suites, they buy them,” general manager Brian Cashman said. Cohen purchased the Mets ahead of the 2021 season and has boosted them to baseball's highest payroll in search of the team's first title since 1986 — when the World Series MVP, like Soto, wore No. 22 — Ray Knight. The owner thanked his son, Josh, for helping create the video and commended his 93-year-old father-in-law Ralph for attending the first get-together with Soto. While other teams met Soto at the Pendry Newport Beach, a hotel just a five-minute drive from Boras Corp.'s office, Cohen asked to host the session at one of his homes. “If we’re going to some restaurant, I didn’t know what the atmosphere would be,” Cohen said. “Food's better at my house.” Cohen and Soto met again Friday at another of the owner's homes in Boca Raton, Florida. Soto wanted to know how many championships Cohen expects over the next decade? “I said I’d like to win two to four,” the owner recalled. The value of Soto's contract eclipsed Shohei Ohtani’s $700 million, 10-year deal with the Los Angeles Dodgers last December. Its length topped Fernando Tatis Jr.’s $340 million, 14-year agreement with San Diego that runs through 2034. The 26-year-old Soto batted .288 with 41 homers, 109 RBIs and 129 walks this year and has a .285 career average with 201 homers, 592 RBIs and 769 walks over seven seasons with Washington, San Diego and the Yankees. Boras wouldn't discuss who finished second in the bidding in Soto's mind. “When you’re at a wedding, you don’t talk about the bridesmaids," he said. Soto made the decision Sunday while at home with his family. Boras referred to the group as the “Soto Supreme Court" defined as “mother, sister, father — he’s got a wide group. I think he may have eight or nine uncles.” “My information requests and such were rather unique,” Boras said, detailing that his team asked for OPS by ballpark. Soto's 1.175 at Citi Field is his highest at any stadium where he's played 15 or more games. Soto cited Cohen's relationship with Mets stars Francisco Lindor and Edwin Díaz as a factor in his mind. “They are kind of like (a tight) family, a family that wants to win but they definitely want to take care of their players and their families,” Soto said. Cohen had his wife Alex and father-in-law attend the initial meeting to emphasize kinship. “My father-in-law is at every game, every home game,” Cohen said. “I wanted him to see how important baseball is to this family. And Alex grew up with one TV in an apartment and that Met game was on every night.” Cohen relishes owning the Mets. He spoke earlier in the day to a town hall at his hedge fund. “Whenever you meet somebody, they want to talk about the Mets before they talk about financial markets,” he said. Soto's success will be determined by World Series titles. The Yankees have 27, the Mets two. “It's such a big city, right? There's plenty of room for both of us,” Cohen said. Soto had a more direct definition. "Championships is going to tell you if it's a Yankees or Mets town at the end of the day," he said. AP MLB: https://apnews.com/mlb
Signing With Dodgers Was Really Easy Decision for 2-Time Cy Young Winner Blake Snell
SANTA CLARA, Calif. (AP) — San Francisco 49ers quarterback Brock Purdy will miss Sunday's game against the Green Bay Packers with a sore throwing shoulder. Purdy injured his right shoulder in last Sunday's . Purdy underwent an MRI that showed no structural damage but the shoulder didn't improve during the week and Purdy was ruled out for the game. Coach Kyle Shanahan said star defensive end Nick Bosa also will miss the game with injuries to his left hip and oblique. Left tackle Trent Williams is questionable with an ankle injury and will be a game-time decision. This will be the first time Purdy has missed a start because of an injury since taking over as the 49ers’ quarterback in December 2022. Brandon Allen will start in his place. The Niners (5-5) are currently in a three-way tie for second in the NFC West, a game behind first-place Arizona, and have little margin for error if they want to get back to the playoffs after making it to the Super Bowl last season. Purdy has completed 66% of his passes this season for 2,613 yards, 13 TDs, eight interceptions and a 95.9 passer rating that is down significantly from his league-leading mark of 113 in 2023. Allen has been mostly a backup since being drafted by Jacksonville in 2016. Allen last started a game in Week 18 of the 2021 season for Cincinnati and has thrown just three passes the last three seasons — including none since joining San Francisco in 2023. Joshua Dobbs will be the backup on Sunday. AP NFL: