PE firms’ legal wars – KKR targets rich clients – Companies use ESGs to bolster IPOs

Welcome to Insider Finance. If this was forwarded to you, sign up here. Plus, download Insider’s app for news on the go – click here for iOS and here for Android. On the agenda today: PE firms are stuck in a power struggle with their investors – and lawyers are bringing in cash no matter what. KKR is building out its sales team and marketing efforts to reach more wealthy clients. “Do-gooder” companies are using ESG missions to amp up their public debuts. Let’s get started. PE firms are stuck in a power struggle with their investors Samantha Lee/Insider Private-equity firms are quarrelling with investors: fund managers say big clients… Read More

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Crypto billionaire Sam Bankman-Fried calls solana’s 17-hour outage sad and frustrating – and says a stablecoin ban would hurt the industry

Sam Bankman-Fried co-founded the crypto exchange FTX in 2019. FTX Sam Bankman-Fried said the solana outage was sad and frustrating, speaking in a Bloomberg interview. The hot token suffered a 17-hour outage last week, which solana put down to “resource exhaustion.” FTX CEO Bankman-Fried also weighed in on stablecoins, saying an outright ban would hurt the industry. See more stories on Insider’s business page. Crypto billionaire Sam Bankman-Fried has said the solana token’s 17-hour network outage was sad and frustrating in a Bloomberg interview – but also said it’s the natural result of a network growing so quickly. The 29-year-old founder and CEO of the FTX crypto exchange also said… Read More

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Senate parliamentarian deals blow to Dems’ immigration push

Senate Majority Leader Chuck Schumer, D-N.Y., speaks to reporters as work continues on the Democrats’ Build Back Better Act, massive legislation that is a cornerstone of President Joe Biden’s domestic agenda, at the Capitol, in Washington, Tuesday, Sept. 14, 2021. (AP Photo/Andrew Harnik)ASSOCIATED PRESS WASHINGTON (AP) — Democrats can’t use their $3.5 trillion package bolstering social and climate programs for their plan to give millions of immigrants a chance to become citizens, the Senate’s parliamentarian said, a crushing blow to what was the party’s clearest pathway in years to attaining that long-sought goal. The decision by Elizabeth MacDonough, the Senate’s nonpartisan interpreter of its often enigmatic rules, is a damaging… Read More

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Horoscopes Sept. 20, 2021: Gary Cole, you’ll find new ways to solve problems

CELEBRITIES BORN ON THIS DAY: Phillip Phillips, 31; Kristen Johnston, 54; Gary Cole, 65; Sophia Loren, 87. Happy Birthday: Use your imagination and be open to suggestions, and you’ll find new ways to solve problems. The insight you gain into what others are experiencing will help you understand how best to use your strengths to get your way. Personal improvements don’t have to cost a lot. Look for solutions that are cost-efficient. Your numbers are 5, 13, 21, 27, 30, 38, 42. ARIES (March 21-April 19): Transparency will be vital if you want to make a change or do things differently. Once you have a plan in place and the… Read More

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Today’s mortgage and refinance rates: September 20, 2021

When you buy through our links, Insider may earn an affiliate commission. Learn more. Table of Contents: Masthead Sticky Mortgage rates are at all-time lows right now, and they will probably stay low for the rest of 2021 as the economy continues to recover from the coronavirus pandemic. If you are ready to buy or refinance, shop around for lenders to compare their rates and fees. Ask each lender for a loan estimate. This is an itemized list of fees that helps you compare what you’ll pay from lender to lender. Ideally, you’d choose a lender that charges both a relatively low rate and low fees. How to get a… Read More

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The Quietest Emmys Speech Was the Loudest

When the camera turned to Michaela Coel after she won an Emmy for limited-series writing, she looked overwhelmed. The creator, star, writer, and co-director of I May Destroy You kept her head down, her shoulders slouched. Next to her, Coel’s former co-star Cynthia Erivo whispered something into her ear—a pep talk, maybe. But for a few seconds, Coel remained still, as if the weight of her first, historic Emmy win might keep her from going onstage. Luckily, it didn’t. Coel gave one of the night’s shortest speeches, and perhaps its most revealing. In her remarks, Coel did something unusual: She thought about her audience, tried to reach beyond the other… Read More

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The American Crackdown on China That Is Working

Executives at the fashion brand Eileen Fisher are no strangers to China—or to its enormous benefits and dangerous pitfalls: The American outfitter began manufacturing its clothing there about a quarter century ago, but last year, it realized that working in China could no longer be business as usual. The catalyst was Beijing’s repression of China’s Uyghurs in the far-west province of Xinjiang. A series of reports exposed horrific abuses of the Muslim minority group, including mass detentions, torture, and forced labor in factories and fields. “There are some issues that that’s it, you draw the line, and forced labor is one of those,” Amy Hall, Eileen Fisher’s social-consciousness strategic adviser,… Read More

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10 things in tech you need to know today

Drew Angerer/Getty Images Good morning and welcome to 10 Things in Tech. If this was forwarded to you, sign up here. ​​Plus, download Insider’s app for news on the go – click here for iOS and here for Android. Let’s get started. 1. Facebook fired back at WSJ reports that say the company is “riddled with flaws.” In a series published last week, WSJ found Facebook turns a blind eye to its role in human trafficking and teens’ mental health, among other things. The company is hitting back, calling the series full of “deliberate mischaracterizations.” 2. The NTSB head criticized Tesla’s use of the term Full Self-Driving. A National Transportation… Read More

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N.Korea warns U.S. risks ‘dangerous nuclear arms race’ over Australia subs

SEOUL (Reuters) North Korea warned on Monday that the United States risked a dangerous nuclear arms race by providing submarine technology to Australia, criticising its “double standards” and vowing counter-measures.  Last week, the United States clinched a new trilateral security partnership involving Britain to provide technological aid to Australia to build at least eight nuclear-powered submarines.  North Korea joined China in decrying the U.S. decision as an “irresponsible one” that destroys regional peace and stability and global non-proliferation efforts.  “These are extremely undesirable and dangerous acts which will upset the strategic balance in the Asia-Pacific region and trigger off a chain of nuclear arms race,” the North’s foreign ministry said… Read More

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Global stocks fall as Chinese property developer Evergrande’s scramble to avoid default rattles investors

Mark Lennihan/Getty Images Global stocks fell Monday, with Dow futures down 500 points, on concerns about Evergrande fallout ahead of the Fed meeting this week. Evergrande’s Hong-Kong listed shares plunged to an 11-year low as fears grew of a default on $350 billion of debt. Oil dropped as the dollar jumped to a three-week high and as US production gradually returned. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Global stocks slid Monday as worries over the escalating crisis of Chinese property developer Evergrande sent shares in Chinese and Hong Kong property companies to their lowest levels in half a decade. Investors are also taking… Read More

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