Elon Musk: 'I do not respect the SEC'
- New York (CNN Business) - Elon Musk settled securities fraud charges brought against him by the Securities and Exchange Commission earlier this year, but he is not done deriding the agency.
- Musk said he is abiding by the terms of his settlement deal "because I respect the justice system." But he reiterated that there is no love lost between him and the SEC.
- Musk and Tesla, the electric car company he runs, reached separate $20 million deals with the agency in September to settle securities fraud charges lodged against Musk that stemmed from statements he made on Twitter.
- As part of the agreement, Tesla said it would firm up its oversight of Musk's social media use by pre-approving posts that may contain information that is "material" to Tesla's shareholders.
Dow futures drop nearly 200 points as sell-off looks set to continue in new week
- U.S. stock futures fell on Sunday night as traders feared an intensifying trade war between the United States and China.
- The Dow, S&P 500 and Nasdaq Composite all posted their worst weekly performances since March last week as worries and confusion about the ongoing U.S.-China trade war and fears of an economic slowdown gripped Wall Street.
- Later that day, trade advisor Peter Navarro told CNN that Trump would "simply raise" tariffs on Chinese goods if a permanent deal was not struck after the 90 days.
- U.S. Trade Representative Robert Lighthizer warned on Sunday he considers March 1 — when the truce is scheduled to end — as "a hard deadline." He added that additional tariffs will be placed on Chinese goods if a deal is not reached by then.
Barbara Corcoran explains why she secretly 'couldn't wait' for Fridays — the day she fired people
- It might sound cruel, but Corcoran explained that getting rid of weak employees was an important way to keep her business strong.
- In fact, she fired a quarter of her sales staff every year.
- Along with the fact that she simply couldn't keep subpar workers on the payroll, Corcoran said keeping underperformers on staff can cause personnel issues.
- To ensure that standards were high at The Corcoran Group, she told new hires that, in order to stay on the team, everyone was required to make one sale in their first three months.
- Corcoran previously told Business Insider's Alyson Shontell that she kept company morale up by fostering a workplace culture in which employees cared for each other.
- And one key way she cared for her employees was by ensuring that underperformers and "complainers" didn't stay for too long in the company.
Match Group's CEO audited the company's payroll to make sure she was paying women equally and was surprised at the results
- She was shocked to discover that at her company — the largest operator of dating apps with brands like Tinder, Match, Plenty of Fish and dozens of others — her female employees were 100% equally paid, according to the findings by a third-party auditor.
- See Mandy Ginsberg speak at Business Insider's Ignition conference, December 3 & 4 in New York and streaming online.
- Salesforce famously audited its workforce, not just once but twice over the past couple of years and issued $6 million in raises to women and agreed to publicly discuss its process, becoming the poster child for equal pay.
- The second audit and adjustment was done after Salesforce grew its employee base substantially through acquisitions, CEO Marc Benioff previously told Business Insider.
- See Salesforce HR chief Cindy Robbins speak about the impacts of paying equally at Business Insider's Ignition conference, December 3 & 4 in New York.
California teacher faces charges after forcibly cutting a student's hair while singing anthem
- Margaret Gieszinger, 52, a former teacher at University Preparatory High School in Visalia, faces six criminal misdemeanor charges -- one count of false imprisonment, two counts of cruelty to a child, two counts of battery, and one count of assault.
- Cellphone video posted to Reddit on Wednesday shows Gieszinger call a male student student to the front of the class.
- Gieszinger pulls the female student's long hair to the side as she attempts to cut it.
- Witnesses told CNN affiliate KFSN that Gieszinger showed up to her first period chemistry class brandishing a pair of scissors and saying it was haircut day.
- University Preparatory High School promises that Gieszinger will never return to its classrooms.
- Gieszinger was released from jail in Tulare County on Friday evening after posting $100,000 bail, according to KFSN.
Egypt Investigating Video Showing Nude Couple on Top of Great Pyramid
- A video showing a tourist couple in a naked embrace at the peak of the Great Pyramid of Giza (Khufu) is stirring up controversy among the Egyptian community.
- With the night skyline of the city of Cairo behind them, the 3-minute video shows the couple climbing the pyramid—an illegal act in itself.
- Minister of Antiquities Khaled al-Anani called the act a violation of public morality, and said the incident and the video will be investigated by the attorney general, reported CNN.
- But Ashraf Mohi, director general of the Giza Plateau, told Ahram Online the video wasn’t real at all.
- Hvid told Danish tabloid Ekstra Bladet that his goal was to climb the Great Pyramid, according to CNN, with an attempt earlier this year that ended with him being caught by the police.
Rahm Emanuel to Democrats: 'Don't focus immediately on Trump'
- Emanuel, who was chief of staff under President Barack Obama and an adviser to President Bill Clinton, told Axelrod that he thinks Trump is "making a big mistake" in special counsel Robert Mueller's Russia investigation.
- Looking ahead to 2020, Emanuel predicted that the 2018 midterm election marked a potential turning point for Democrats, particularly when it comes to making gains in suburban areas.
- He said Americans are ready for a foil to the President and that the country is "ashamed" and "exhausted" by Trump.
- Emanuel also discussed gun violence in Chicago, which Trump has repeatedly criticized.
- He also said Trump might be targeting him more than other big city mayors, and that the President uses Chicago as a "shorthand" for what he views as failed Democratic policies in cities roiled by gun violence.
Trump Says 'No Collusion' After Mueller's Filing on 'Synergy'
- Michael Cohen spoke with a Russian national who repeatedly proposed a meeting between Donald Trump and Russian President Vladimir Putin in the early months of Trump’s presidential bid, and offered “political synergy” for the campaign, according to a filing by Special Counsel Robert Mueller’s office.
- It was disclosed in a slim document that described Cohen’s conversations with Mueller’s office after he pleaded guilty and agreed to provide information to prosecutors who are investigating Russian interference in the 2016 election.
- Cohen has pleaded guilty in two cases — one brought by Mueller and one brought by Manhattan federal prosecutors — and admitted nine crimes, including tax evasion, lying to lawmakers and arranging payments to silence women claiming to have had affairs with Trump, to influence the outcome of the 2016 presidential election.
Police arrest hundreds in Paris as anti-government protests heat up
- Paris (CNN) - French police detained more than 340 people in Paris on Saturday as the city locked down ahead of another weekend of violence during protests by the "gilets jaunes" or "yellow vests" anti-government movement.
- It is the fourth weekly protest that last weekend erupted into the worst riots France had witnessed for decades.
- With more riots expected in other parts of the country, Prime Minister Edouard Philippe said the government was deploying 89,000 security force members across France.
- The French retail sector has suffered a loss in revenue of about $1.1 billion since the beginning of the yellow vest protests last month, a spokeswoman for the French retail federation, Sophie Amoros, told CNN.
- Amid heightened tensions, police seized 28 petrol bombs and three homemade explosive devices Friday at an area blockaded by protesters in Montauban in southern France, a spokesman for the Tarn-et-Garonne prefecture told CNN.
Jeremy Corbyn fears a Brexit 'betrayal' backlash if he backs a People's Vote
- LONDON — Jeremy Corbyn's Labour party is bracing itself for a major backlash from Labour voters if it backs a second Brexit referendum, senior aides to the Labour leader have told Business Insider.
- The Labour leadership is under growing pressure from senior party figures and the membership to back a so-called People's Vote if Theresa May's Brexit deal is defeated in the House of Commons next week.
- However, some of those close to Corbyn are deeply sceptical about such predictions and fear that committing to a new vote would in reality trigger a wave of anger towards the Labour party and its leader, jeapordising its chances of winning the next general election.
- The Labour Leave campaign, which represents the party's small number of MPs who are enthusiastic supporters of Brexit, held a briefing this week warning that the party risked being "decimated" if it backs a second referendum.