NEWBURGH, NEW YORK – One Powerplay ticket sold for the June 19 Powerball drawing has won the third prize, amounting to $150,000, according to the New York Lottery’s announcement.

The ticket was sold at Smokes 4 Less on North Plank Road in Newburgh.

According to lottery officials – “The winning numbers for the Powerball game are drawn from a field of one to 69. The Power Ball is drawn from a separate field of one to 26. When purchased, the Power Play option provides players with a chance to multiply non-jackpot prizes up to 10 times. The Powerball drawing is televised every Monday, Wednesday and Saturday at 10:59 p.m.”

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Money - Lottery winning jackpot.

BROOKLYN, NEW YORK – The New York Lottery has announced the sale of a top-prize winning ticket for the June 19 TAKE 5 MIDDAY drawing. The ticket was worth $8,923.

The ticket was sold at Newkirk Grocery on Newkirk Place in Brooklyn.

According to lottery officials, “TAKE 5 numbers are drawn from a field of one through 39. The drawing is televised twice daily at 2:30 p.m. and 10:30 p.m. A Lottery draw game prize of any amount may be claimed up to one year from the date of the drawing.”

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Expired Take 5 lottery ticket - New York Lottery

STATEN ISLAND, NEW YORK: The New York Lottery has announced the sale of a top-prize winning ticket for the June 19 TAKE 5 MIDDAY drawing. The ticket was worth $8,923.

The lucky ticket was sold at Your Taste Deli on Forest Avenue in Staten Island.

According to lottery officials, “TAKE 5 numbers are drawn from a field of one through 39. The drawing is televised twice daily at 2:30 p.m. and 10:30 p.m. A Lottery draw game prize of any amount may be claimed up to one year from the date of the drawing.”

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By Gabriel Araujo

PARIS (Reuters) -Brazilian planemaker Embraer on Tuesday notched fresh orders from American Airlines and Spanish carrier Binter for its E-Jets in deals announced at the Paris Airshow that are seen totaling about $1 billion.

The new firm orders come amid an influx of deals at the world’s largest air show, which is at Le Bourget for the first time in four years and took off on Monday with Airbus bagging a record 500-plane transaction.

Embraer, the world’s third-largest planemaker after Airbus and Boeing, said the new orders follow expansion goals of regional carriers such as Binter and Canada’s Porter Airlines, underscoring positive momentum for its planes in global markets.

Despite the new deals, shares of Embraer slipped more than 4% in midday trading in Sao Paulo, making it the biggest faller on the benchmark Bovespa stock index, as analysts at JPMorgan said the firm had a “slow start” in Paris.

“We were expecting Embraer to announce at least 30 new orders during the event,” they said. “We believe that additional new orders could be announced in the coming days, as in the last Paris Air Show Embraer divided its announcements into 3 days.”

Binter has placed a firm order for six E195-E2 aircraft, marking its fourth order of E2 jets to bring its fleet to 16 when delivered. The deal was valued at $504.7 million at list price, with deliveries commencing in the second half of 2024.

The carrier’s president Rodolfo Nunez touted the aircraft as “a game changer” for the company and “the perfect aircraft to lead our continued growth”, citing better-than-expected fuel burn and maintenance.

“The best orders are repeat orders,” Embraer’s Chief Commercial Officer for commercial aviation Martyn Holmes said.

That also applies for American Airlines which ordered seven E175 planes for its Envoy Air subsidiary, whose fleet of E-Jets will grow to over 141 aircraft by the end of 2024 after the new $403.4 million deal.

Leasing firm Avolon meanwhile signed a sale and leaseback agreement with Porter, already an Embraer customer, for 10 new E195-E2s in a transaction priced at $841.2 million, according to Embraer.

That is “another sign that the momentum the E2 is enjoying in the market is set to continue”, Holmes said.

The Brazilian company expects its commercial aircraft unit to deliver from 65 to 70 jets this year, up from 57 in 2022, and had previously said sales were also enjoying strong performance as travel rebounds post-pandemic.

The firm has restored its backlog to pre-2020 levels and is working to achieve 100 commercial deliveries a year within 3-4 years.

(Reporting by Gabriel Araujo in Sao Paulo; Editing by Steven Grattan, Jan Harvey, Alexandra Hudson)

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By Brenda Goh and Casey Hall

SHANGHAI (Reuters) -Alibaba Group on Tuesday said its CEO and chairman Daniel Zhang will step down from the roles to focus on its cloud division as the Chinese e-commerce giant moves ahead with a plan to split into six business units.

Zhang has been concurrently serving in three roles since December when he took over as head of the cloud unit after it suffered an outage that it described as its “longest major-scale failure” for over a decade.

The CEO role will be handed over to Eddie Yongming Wu, chairman of Alibaba’s Taobao and Tmall Group, while Executive Vice Chairman Joseph Tsai will take over Zhang as chairman.

Both appointments will take effect on Sept. 10, Alibaba said.

“The appointment of Daniel to focus on running cloud is really a show of confidence and trust in him to take the most precious business and run with it to develop it in the right way given this age of generative artificial intelligence (AI),” said Brian Wong, a former Alibaba employee and author of the book, “The Tao of Alibaba”.

“The idea or expectation that one person could manage the business’ crown jewel Cloud and at the same time manage the entire Alibaba Group is an unreasonable expectation.”

The surprise reshuffle comes after a tumultuous two years that saw Alibaba heavily targeted by increased regulatory scrutiny and after the group announced in March that it would restructure into six units, each with their own boards and CEOs.

Its China-facing e-commerce division, which includes the Taobao and Tmall marketplaces, will stay wholly owned by Alibaba, but the other five units will be spun off, with Alibaba saying in May it aimed to complete the public listing of its cloud unit within the next 12 months.

Zhang, in a memo to staff seen by Reuters, said the cloud spin-off was approaching a crucial stage and that it was the right time for him to dedicate his attention to the business.

“From a corporate governance perspective, we also need clear separation between the board and management team as the Cloud Intelligence Group proceeds down the path to becoming an independent public company,” he said.

“It would be inappropriate for me to continue serving as chairman and CEO of both companies at the same time during the spin-off process.”

Analysts have estimated the cloud unit to be worth $41 billion to $60 billion but have said the reams of data it oversees could put it in the cross-hairs of regulators at home and abroad.

SINGLES DAY

Zhang, a former accountant, joined Alibaba in 2007 and is known for being the architect behind the company’s annual flagship “Singles Day” shopping festival. He has served as CEO since 2015 and took on the chairmanship in 2019, succeeding both roles from Alibaba co-founder Jack Ma.

Alibaba thanked Zhang for his “extraordinary leadership in navigating unprecedented uncertainties affecting the company’s business over the past few years.”

Alibaba’s Hong Kong-listed shares fell 1.5% after the announcement, in line with a 1.6% decline in the benchmark index, as analysts viewed the reshuffle as being in line with the overall restructuring previously announced.

“Under the new structure, the group will play a smaller role in setting strategies for the six business groups, so instilling Alibaba founders Joe and Eddie as chairman and CEO likely serves the purpose of ensuring smooth leadership transition and maintaining culture,” Shanghai based Independent analyst Eric Chen, who publishes on Smartkarma, told Reuters.

Wu, who co-founded Alibaba alongside Ma and Tsai over two decades ago, will continue to concurrently serve as chairman of Taobao and Tmall Group, Alibaba said. His previous roles include chief technology officer of Alipay and chairman of Alibaba Health.

Wu’s elevation to CEO “is a natural transition and signals the unswerving importance of e-commerce in the company’s roadmap,” said Jacob Cooke, co-founder and CEO of WPIC Marketing + Technologies, a Beijing-based e-commerce consultancy.

Cooke said he did not see the leadership changes as signalling a major strategic shift within Alibaba, given that the individuals are co-founders and close associates of Ma.

“If anything, it emphasises the increasing importance of AI in the company’s focus, while also underscoring that e-commerce is the core business unit.”

COMPETITION

Ma, China’s best-known entrepreneur, has stayed out of the public eye since late 2020 after a speech in which he criticised Chinese regulation, and which is widely seen as triggering an ensuing crackdown.

Ma left mainland China in late 2021 – appearing in photographs in Japan, Spain, Australia and Thailand – and returned in March, a day before Alibaba announced its restructuring. He has not made any public comments during that period.

Last week, Alibaba president J. Michael Evans said Ma remained Alibaba’s biggest shareholder and cared very much about the company. He said Ma was teaching at a university in Tokyo and was also spending more time in China.

Chinese tech news outlet LatePost on Monday reported that Ma convened a meeting with leaders from Taobao and Tmall Group where he highlighted severe competition and discussed the need to return focus to users, the internet and Taobao – whose merchants are mostly individuals or small businesses – to stay relevant.

Alibaba did not respond to a Reuters request for comment on the LatePost report, which cited company sources.

(Reporting by Abinaya Vijayaraghavan in Bengaluru and Brenda Goh in Shanghai; Additional reporting by Scott Murdoch in Sydney and Anne Marie Roantree and Josh Ye in Hong Kong; Editing by Muralikumar Anantharaman and Christopher Cushing)

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Lottery winner - Money - Stock Photo

TRENTON, NJ  – For the June 16th drawing, there were two third-tier prizewinning tickets sold, each matching four white balls and the Gold Mega Ball, resulting in a $10,000 prize for each ticket.

The lucky tickets were purchased at: Metuchen Corner Deli on Middlesex Avenue in Metuchen; and, South Street Market on South Street in New Providence.

The winning Mega Millions numbers for Friday’s drawing were: 04, 24, 34, 45 and 57. The Gold Mega Ball was 19, and the Megaplier Multiplier was 03.

The jackpot increases to $300 million for the next drawing to be held on tonight at 11:00 pm.

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BALTIMORE, MARYLAND – A woman was shot this morning in Northern Baltimore. The Baltimore Police Department is investigating the shooting.

Shortly before 9 am, police arrived at a local hospital to investigate a report of a walk-in shooting victim.

At the location, officers found a 41-year-old female suffering from a graze wound to her upper arm. The victim reported being shot near the 2000 Block of Windsor Avenue and Payson Street.

If you have any information about the shooting, please contact Northern District Detectives at 410-396-2455 or the Metro Crime Stoppers tip line at 1-866-7LOCKUP.

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(Reuters) -Groundbreaking on U.S. single-family homebuilding projects surged in May by the most in more than three decades and permits for future construction also climbed, suggesting the housing market may be turning a corner after getting clobbered by Federal Reserve interest rate hikes.

Still, even with the Fed skipping a rate hike this month for the first time since early 2022, credit conditions remain in the process of tightening, and that could make it challenging for builders heavily reliant on construction and development loans to keep pace with May’s rebound in the months ahead.

Indeed, economists noted that multifamily construction projects that had secured financing last year contributed to May’s gains and may level off as the year progresses as new financing becomes harder to obtain.

Housing starts rose to a seasonally adjusted annual rate of 1.631 million units last month from April’s downwardly revised 1.34 million, the Commerce Department said on Tuesday. May’s rate was the highest since April 2022, which was then the highest since 2006.

The 291,000-unit increase in starts was the most since January 1990, and the 21.7% rise was the largest percentage gain since October 2016.

“While housing starts data tend to be volatile and this figure may be revised down in coming months, the enormity of the increase suggests that builders are broadly expanding operations this summer,” Nationwide Senior Economist Ben Ayers said in a note.

Starts rose by double-digit margins in the South, Midwest and West while declining by nearly 19% in the Northeast. Single-family starts were up 18.5% with multi-family projects of five units or more climbing 28.1%.

Not all economists were convinced May’s upswing represented the start of a continued surge.

“The strength is so far off trend that it calls sustainability into question,” Jefferies U.S. economist Thomas Simons wrote. He noted the nearly 67% surge in starts in the Midwest, for instance, may be the product of rebuilding efforts after a damaging spring tornado season, which is unlikely to be repeated.

The housing market has taken the biggest hit from the Fed’s fastest monetary policy tightening campaign since the 1980s, but recent data have suggested the worst may have passed.

A survey on Monday showed the National Association of Home Builders/Wells Fargo Housing Market index in June rose above the midpoint mark of 50 for the first time since July 2022 as a dearth of previously owned homes supported new construction. The index has rebounded by 77% since December.

The average rate on the popular 30-year fixed mortgage has come down somewhat from last November’s high above 7%. It averaged 6.77% in the latest week, according to data from the Mortgage Bankers Association.

But tightening credit conditions could make it harder for builders to access funding for new projects, a prospect NAHB’s chief addressed alongside the association’s data release on Monday.

“(A)ccess for builder and developer loans has become more difficult to obtain over the last year, which will ultimately result in lower lot supplies as the industry tries to expand off cycle lows,” NAHB Chairman Alicia Huey said in a statement.

After lifting rates by 5 percentage points since March 2022, the Fed this month took a breather to assess the effects of its actions taken so far, though rate hikes are likely to resume next month with inflation still too high.

Nonetheless, most Fed officials see only one or two more quarter-point rate hikes as necessary, and businesses in rate-sensitive sectors like housing are showing signs of upward momentum as a result.

Permits for future construction, for instance, rose 5.2% to the highest since October at 1.491 million units, led by a 27.1% surge in the Northeast. Permits for single-family projects rose 4.8% while multi-family were up 7.8%.

Bill Adams, chief economist at Comerica Bank, said home construction is set to add to U.S. economic growth in the second half of this year. Residential construction has been a drag on gross domestic product growth for eight quarters in a row.

(Reporting by Dan Burns; Editing by Conor Humphries and Andrea Ricci)

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By Joseph Ax and Kanishka Singh

(Reuters) – U.S. and Canadian ships and planes searched on Monday for a submersible vessel that went missing more than a day earlier off the coast of southeastern Canada while taking tourists to explore the wreckage of the Titanic, officials said.

The U.S. Coast Guard said there was one pilot and four passengers on board and that the vessel had the capacity to be submerged for 96 hours, but it was unclear whether it was still underwater or had surfaced and was unable to communicate.

U.S. and Canadian ships and planes have swarmed the area about 900 miles (1,450 km) east of Cape Cod, some dropping sonar buoys that can monitor to a depth of 13,000 feet (3,962 meters), U.S. Coast Guard Rear Admiral John Mauger told reporters on Monday.

“It is a remote area and it is a challenge to conduct a search in that remote area,” Mauger said.

“We are deploying all available assets to make sure that we can locate the craft and rescue the people on board,” he said. “Going into this evening we will continue to fly aircraft and move additional vessels.”

Mauger said officials have also been reaching out to commercial vessels for help.

The private company that operates the submersible vessel, OceanGate Expeditions, said in a statement on Monday that it was “mobilizing all options” to rescue those on board.

British billionaire Hamish Harding is among the passengers, according to a social media post from a relative.

Pakistani businessman Shahzada Dawood and his son, Suleman, were also on board, their family said in a statement.

“We are very grateful for the concern being shown by our colleagues and friends and would like to request everyone to pray for their safety,” the statement said.

The U.S. Coast Guard said earlier on Twitter that a boat on the surface – the Polar Prince – lost contact with the submersible vessel, called the Titan, about one hour and 45 minutes after it began diving toward the site of the Titanic’s wreckage on Sunday morning.

OceanGate said, “We are deeply thankful for the extensive assistance we have received from several government agencies and deep sea companies in our efforts to reestablish contact with the submersible.”

Harding’s stepson wrote on Facebook that Harding had “gone missing on submarine” and asked for “thoughts and prayers.” The stepson subsequently removed the post, citing respect for the family’s privacy.

Harding himself had posted on Facebook that he would be aboard the sub. There have been no further posts from him. The expedition headed out to sea on Friday, and the first dive was set for Sunday morning, according to Harding’s post.

The statement from the Dawood family said the father and son had planned the journey to visit the remnants of the Titanic shipwreck.

Dawood is the vice chairman of one of Pakistan’s largest conglomerates, Engro Corporation, which has investments in fertilisers, vehicle manufacturing, energy and digital technologies. According to the website of SETI, the California-based research institute of which he is a trustee, he lives in Britain with his wife and two children.

The expeditions, which cost $250,000 per person, start in St. John’s, Newfoundland, before heading out approximately 400 miles (640 km) into the Atlantic to the wreckage site, according to OceanGate’s website.

In order to visit the wreck, passengers climb inside Titan, the five-person submersible, which takes two hours to descend approximately 12,500 feet (3,800 m) to the Titanic.

The British passenger ship famously sank in 1912 on its maiden voyage after striking an iceberg, killing more than 1,500 people. The story has been immortalized in nonfiction and fiction books as well as the 1997 blockbuster movie “Titanic.”

(This story has been refiled to change the word ‘submarine’ to ‘submersible vessel’ in paragraphs 1,7 and 12)

(Reporting by Joseph Ax, Kanishka Singh and Njuwa Mainaand Rich McKay; Additional reporting by Ismail Shakil and Ariba Shahid in Karachi; Editing by Doina Chiacu, Franklin Paul, Jonathan Oatis, Cynthia Osterman and Raju Gopalakrishnan)

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BALTIMORE, MARYLAND – The Baltimore Police Department is investigating a homicide that took place early yesterday morning in Northwest Baltimore.

Just after 3 am, police arrived at the 3700 Block of Rosedale Street to investigate a report of an assault that was in progress. At the location, officers found an injured adult male. They forcefully entered the residence to provide treatment to the victim. The victim was unresponsive and pronounced dead at the scene.

If you have any information about this incident, please contact Homidice Detectives at 410-396-2100 or Metro Crime Stoppers at 1-866-7Lockup.

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By Shreyashi Sanyal and Bansari Mayur Kamdar

(Reuters) -German stocks fell on Tuesday as shares of speciality chemicals maker Lanxess plunged after lowering its earnings forecast, while a modest interest rate cut by Beijing did little to lift investor sentiment among Europe’s China-exposed shares.

Germany’s DAX index closed 0.6% lower, retreating further from a record high hit on Friday. The continent-wide STOXX 600 index also fell 0.6%.

Lanxess slid 15.4% to its lowest level in over three years after cutting its second-quarter and annual core profit forecasts, saying it saw no demand recovery in June as customers continued to destock.

The chemicals index slid 0.9%.

China cut its lending benchmarks on Tuesday, with investors worrying that it may be too small to jumpstart a slow economic recovery and awaited a wider stimulus package.

“The China reopening story has been one of the real disappointments,” said Steve Sosnick, chief strategist at Interactive Brokers.

The market feels that the Chinese have been a little timid, that they really have not been as aggressive as they can be, Sosnick added.

The China-exposed basic resources index dropped 2.2%, while luxury giant LVMH shed 0.9%.

Defensive sectors such as utilities and healthcare capped losses on the STOXX 600.

Sanofi supported the healthcare index as it rose 3.7%.

The French drugmaker said the International Chamber of Commerce ruled in its favour in an arbitration case over claims by Boehringer Ingelheim that Sanofi should be liable for ongoing Zantac litigation in the United States.

British auto retailer Lookers jumped 33.9% as Global Auto Holdings said it would buy the peer for about 465.4 million pounds (about $595 million) in cash.

Also in the UK, the focus is on elevated mortgage rates ahead of key inflation data due on Wednesday and the Bank of England’s policy meeting on Thursday.

London’s FTSE 100 index slipped 0.3%.

UBS Group fell 2.4% after report on Monday that the bank faces hundreds of millions of dollars in penalties over Credit Suisse’s mishandling of Archegos Capital.

Investors now await the testimony from U.S. Federal Reserve Chair Jerome Powell on Wednesday and Thursday for further cues on the monetary policy outlook for the world’s largest economy.

(Reporting by Shreyashi Sanyal, Siddarth S and Bansari Mayur Kamdar in Bengaluru; Editing by Eileen Soreng and Alison Williams)

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By Trevor Hunnicutt

WASHINGTON (Reuters) -The Biden administration says it has picked the chairman of Google parent Alphabet Inc, John Hennessy, and four other technology industry experts to help with research and development of next-generation computer chips.

Hennessy and the other selected individuals are set to be announced by the Commerce Department on Tuesday, according to a statement seen by Reuters. They will be responsible for picking a board of trustees to run the National Semiconductor Technology Center.

That public-private partnership was authorized to lead research on next-generation chips as part of last year’s bipartisan $52.7 billion semiconductor manufacturing and research law, which also subsidizes new chip plants. The nonprofit board is expected make politically sensitive decisions, including where in the United States to locate the center’s research facilities.

President Joe Biden wants to expand the domestic chipmaking industry to create high-paying jobs, reduce dependence on the major producers in China and Taiwan and to give the United States an edge in the advanced technologies that will power the military technologies of the future.

Economists attribute higher consumer inflation since the COVID-19 pandemic to, among other factors, an insufficient supply of chips, which sparked shortages in cars, washing machines and video game consoles.

“We want the NSTC to be an engine of innovation, supporting and extending U.S. leadership in semiconductor research, design, engineering, and advanced manufacturing for decades to come,” Commerce Secretary Gina Raimondo said in a statement. “This selection committee is the next step to helping us stand up the NSTC and ensure it succeeds for generations.”

Hennessy, the Alphabet chairman, is also an electrical engineering and computer science professor at Stanford University.

The selection committee also includes Deloitte Consulting principal Janet Foutty, RAND Corp chief executive Jason Matheny, Anzu Partners venture capitalist and former Qualcomm executive Don Rosenberg and education nonprofit president Brenda Wilkerson.

(Reporting by Trevor Hunnicutt; Editing by Cynthia Osterman)

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By Luc Cohen

NEW YORK (Reuters) – JPMorgan Chase Chief Executive Jamie Dimon may have ordered a 2019 review of the bank’s relationship with the late financier and sex offender Jeffrey Epstein, the U.S. Virgin Islands said.

The U.S. territory, where Epstein owned two neighboring islands, made the claim in a letter made public on Tuesday, in its lawsuit accusing the largest U.S. bank of ignoring Epstein’s sexual abuses and letting him run a sex trafficking operation.

JPMorgan last week agreed to settle a similar lawsuit brought by Epstein victims for $290 million. The U.S. Virgin Islands lawsuit is scheduled for an Oct. 23 trial in Manhattan federal court.

Internal emails show that following Epstein’s July 2019 arrest on sex trafficking charges, JPMorgan conducted a review known as “Project Jeep” that included emails between Epstein and Jes Staley, a former friend and JPMorgan private banking chief.

Epstein had been a JPMorgan client from 1998 until the bank terminated him in 2013. He died of an apparent suicide in August 2019 in a Manhattan jail cell while awaiting trial.

In a May 26 deposition, Dimon said he never met Epstein, did not recall discussing his accounts internally, and barely knew who Epstein was prior to the July 2019 arrest.

The territory wanted him to sit for a second deposition after new documents about Epstein and Staley surfaced.

U.S. District Judge Jed Rakoff, who oversees the lawsuit, denied that request on Friday.

JPMorgan declined to comment on Tuesday.

In the June 7 letter, the U.S. Virgin Islands said an email from a compliance executive to two others referred to a “project” ordered by “top of house” that turned into Project Jeep – drawn from Epstein’s first and last names.

It referred to a 22-page summary of emails primarily between and among Epstein, Staley and others.

That summary “was prepared as part of Project Jeep, which the documents suggest may have been ordered by Dimon himself, not by the legal department and not in relation to any pending or anticipated litigation,” the U.S. Virgin Islands said.

The review showed Staley seeking Epstein’s advice on issues such as his own compensation and the 2008 financial crisis, including some messages after Epstein pleaded guilty to a Florida state prostitution charge.

“I hope you keep the island,” Staley wrote Epstein on Sept. 29, 2008, two weeks after Lehman Brothers collapsed. “We may all need to live there.”

Staley has acknowledged being friendly with Epstein, but denied knowing about his sex trafficking. His lawyers did not immediately respond to requests on Tuesday for comment.

A spokesperson for the Virgin Islands said the bank’s senior executives “ignored the evidence of Jeffrey Epstein’s crimes.”

JPMorgan is suing Staley to cover its losses in the U.S. Virgin Islands’ and Epstein victims’ lawsuits.

Staley left the bank a few months after Epstein, and later spent six years as Barclays’ chief executive.

(Reporting by Luc Cohen in New York; Additional reporting by Nupur Anand in New York; Editing by Matthew Lewis)

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By Jacqueline Thomsen

(Reuters) – Hunter Biden, the son of U.S. President Joe Biden, has agreed to plead guilty to two tax charges and enter an agreement that may allow him to avoid a conviction on a firearm offense, according to court filings on Tuesday. Here is a look at each of the charges.

WILLFUL FAILURE TO PAY FEDERAL INCOME TAX

Hunter Biden has agreed to plead guilty to two counts of willful failure to pay federal income tax, according to court papers.

He is charged with twice failing to pay over $100,000 in income tax. The amounts stem from over $1.5 million in taxable income Biden received in 2017 and again in 2018, according to the court papers.

Those charges are misdemeanor counts. The maximum penalty is a fine of $25,000 as well as up to one year in federal prison. Imprisonment is not mandatory under the charge.

FIREARM POSSESSION

Hunter Biden was also charged with possessing a revolver for about 11 days in October 2018 while being an addicted and unlawful user of a controlled substance. That charge is a felony.

In a 2021 memoir, he described dealing with substance abuse issues in his life, including crack cocaine use and alcoholism. Biden was discharged from the U.S. Navy Reserve in 2014 after testing positive for cocaine, sources told Reuters at the time.

Biden is entering a pretrial diversion agreement on the firearm charge, prosecutors said in a letter to the court on Tuesday. Pretrial diversion is an alternative to prosecution that is sometimes used to allow defendants to avoid prison time or a criminal conviction. Such programs can include requiring individuals to undergo treatment for substance abuse.

If Biden successfully completes the terms of his diversion program, the charge could be lowered or dismissed, or prosecutors could seek a lighter sentence for him.

(Reporting by Jacqueline Thomsen in Washington; Editing by David Bario and Jonathan Oatis)

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By David Carnevali

(Reuters) -NV5 Global Inc, a U.S. engineering consultant whose business has taken a hit from its exposure to commercial real estate, is exploring a sale, according to people familiar with the matter.

NV5 is in the early stages of a sale process and is working with advisers to establish whether a deal would be financially attractive, the sources said.

NV5 could decide not to go through with a transaction, the sources added, requesting anonymity because the matter is confidential. NV5 representatives did not respond to requests for comment.

NV5 shares rose as much as 16% on the news and were up 6% at $109.97 on Tuesday afternoon, giving the company a market value of about $1.7 billion.

Based in Hollywood, Florida, NV5 offers services such as infrastructure engineering and building inspection to federal, state and local governments, as well as to the private sector.

While much of its work is performed on public buildings such as hospitals, schools and airports, NV5 has a real estate transaction services business that caters to commercial property, offering surveys and seismic risk assessments. It expanded this practice through the acquisition of Bock & Clark in 2017 and Global Realty Services Group in 2021.

This exposure to commercial real estate has weighed on NV5’s business and stock price. Chief Executive Dickerson Wright said in February that NV5 would have achieved more than 11% gross revenue growth in 2022 had it not been for its real estate transactions business taking a hit in the wake of high interest rates. The company’s municipal services business has been negatively affected too, he added.

NV5 shares have lost about a fifth of their value since the start of the year, underperforming a 31% rise in the NASDAQ Composite Index.

Wright, who helped launch the company in 2009 and is its second-largest shareholder with an almost 11% stake, has been a serial dealmaker, completing 57 acquisitions for NV5.

NV5 generated almost half of its $786.8 million revenue in 2022 from its infrastructure business, while its buildings consulting and geospatial solutions make up the rest.

(Reporting by David Carnevali in New York; Editing by Nick Zieminski)

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By Manya Saini and Hannah Lang

(Reuters) -Private equity firm KKR has agreed to purchase a substantial portion, or up to 40 billion euros ($43.71 billion), of payments company PayPal’s buy now, pay later (BNPL) loans in Europe, the companies said on Tuesday.

Even though BNPL remains popular after the pandemic-led surge in its use among millennials and Gen Z customers, the sector’s fortunes turned last year as rising interest rates and red-hot inflation dampened the purchasing power of consumers.

PayPal shares were last up 1.7% following the news of the deal, which is expected to generate about $1.8 billion in gross proceeds and close in the second half the year.

The company said its growth forecast for adjusted profit, made in May, of about 20% on a per share basis, which was above Wall Street estimates, already included the deal.

After the deal closes, PayPal expects to allocate roughly $1 billion to incremental share repurchases in 2023, contributing to an updated outlook of about $5 billion in total share repurchases so far this year.

“Strategically, we like this move, as we view offloading credit risk as a positive for payment processors,” Brett Horn, a senior equity analyst with Morningstar Research Services, said in a note.

“Additionally, given the still nascent nature of BNPL offerings and the uncertainty around future performance of BNPL offerings, we think this deal removes an element of risk for PayPal,” Horn added.

The companies said private credit funds and accounts managed by KKR will purchase up to 40 billion euros loan receivables originated by PayPal in France, Germany, Italy, Spain and the United Kingdom.

PayPal last year processed more than $20 billion of BNPL payment volume globally, up nearly 160% from 2021. Since launching its BNPL service in 2020, PayPal has issued more than 200 million loans to more than 30 million customers globally.

The company said it will continue to remain responsible for all customer-facing activities, including underwriting and servicing associated with its European BNPL products.

($1 = 0.9151 euros)

(Reporting by Manya Saini in Bengaluru and Hannah Lang in Washington; Editing by Arun Koyyur and Will Dunham)

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WASHINGTON, D.C – The Washington, D.C. Metro Police Department is asking for help identifying suspects involved in multiple Armed Robberies this weekend.

Two suspects armed with a handgun robbed the victim of their belongings shortly before 7 p.m. on Sunday. The incident occurred in the 2100 block of 2nd Street, Southwest. After the robbery, the suspects made their getaway in a silver SUV, seen fleeing in the westbound direction on 2nd Street, Southwest.

Shortly before 7:30 p.m. Sunday evening, two suspects targeted the victim in the 700 block of K Street, Northwest. Using a handgun, they forcefully seized the victim’s property. The suspects fled the scene in a silver SUV, which was spotted traveling southbound in the 800 block of 7th Street.

A nearby surveillance camera captured the suspects and vehicle. The suspect’s vehicle had the Maryland temporary tag T1370157. If you have any information about this incident, please take no action but call the police at (202) 727-9099 or text your tip to the Department’s TEXT TIP LINE at 50411. This case remains under investigation.

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MEXICO CITY (Reuters) – Mexico’s central bank will likely keep its benchmark interest rate unchanged in its next monetary policy decision, a Reuters poll showed on Tuesday, amid a slowdown in inflation.

The 20 analysts polled by Reuters see the Latin American country’s central bank maintaining borrowing costs at the current rate of 11.25% for the second time in the announcement scheduled for Thursday..

The Mexican central bank, known as Banxico, unanimously held its benchmark interest rate steady at 11.25% in its last meeting, breaking a nearly two-year rate-hike cycle during which it raised the rate by 725 basis points to combat rising consumer prices.

The entity said in late May, following its last decision, that it would be necessary to hold the benchmark interest rate at its current level for an extended period of time to bring inflation down to its target range of 3% plus or minus 1 percentage point.

According to another Reuters poll, Mexico’s headline inflation could hit 5.30% in the first two weeks of June, reaching its lowest level in more than two years.

Banxico will announce its next interest rate decision on Thursday at 1 p.m. local time (1900 GMT).

(Reporting by Noe Torres; Additional reporting by Gabriel Burin in Buenos Aires; editing by Jonathan Oatis)

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By Brendan Pierson and Disha Raychaudhuri

(Reuters) – Companies accused of fueling the U.S. opioid crisis have so far paid out more than $3 billion to compensate states, but has any of the money reached the people who need it? It depends where you live. Yes, if you’re in Massachusetts; no, in Texas.

A series of landmark settlements since 2021 with top drug distributors, pharmacies and drugmakers including Johnson & Johnson set compensation at a total of more than $50 billion nationwide.

More than 900,000 people have died of drug overdoses in the United States since 1999, with opioids playing an outsized role, according to data from the U.S. Centers for Disease Control and Prevention. State and local officials have touted the settlements as providing desperately needed relief to communities hit hard by the crisis.

But when the money will be paid out, and who will get it, remains far from clear, Reuters has found. And many of those who have been working with opioid addiction for years, through a patchwork of non-profit treatment and aid organizations around the country, say they are still in the dark about how, and whether, their work will benefit, according to a series of interviews over the last several months.

Reuters reached out to all 50 states and the District of Columbia to ask whether they had a process for non-governmental organizations to apply for funding from the settlements. It also looked for information available online about funding applications.

Reuters received responses, or was able to locate information online, for 40 states and the District of Columbia. Of those, the news agency could only confirm that 16 had central, state-wide, publicly available processes for organizations to apply for funding.

Some of the remaining states, including Maryland and Illinois, said they planned to open an application process soon. Others offered no specific details about future plans. Arkansas has adopted a unique model; although the state does not have a funding application process, two thirds of its settlement money is going to a partnership of state and local governments, which does have such a process.

Among the states where money is already reaching organizations on the ground are Massachusetts, Kentucky and Arizona.

“The need to get this money out the door and start making a dent in the crisis has never been greater,” said Brandon Marshall, a professor of epidemiology at the Brown University School of Public Health who serves as an advisor to the committee overseeing Rhode Island’s settlement. “I don’t quite understand why some states and jurisdictions are taking so long to even create a process.” (Rhode Island is disbursing settlement funds through a rolling series of application processes targeted at specific kinds of interventions.)

In Massachusetts, which according to data from the state has received more than $129 million as of this month, funds have already begun flowing, some through a public grant application process.

According to a public summary released after a December meeting of the advisory council overseeing the state’s settlement, the state has allocated $3.4 million toward purchasing the overdose reversal drug naloxone, $1.2 million toward methadone treatment programs and $5 million toward organizations that provide long-term housing to people struggling with addiction. The state has also pledged $15 million to repay student loans for health care workers who deal with addiction treatment, and continues to evaluate additional grant applications.

“I think Massachusetts is doing an outstanding job,” said Julie Burns, CEO of RIZE Massachusetts, a non-profit that funds efforts to combat the opioid epidemic “Their process has been very open.” (RIZE itself has not received settlement funding.)

The fate of Texas’s share, more than $270 million received to date beginning in December 2021, is less clear. The state legislature this year appropriated about $22 million for government agencies for 2024 and 2025, and has posted an online form for organizations to register as potential funding recipients.

But the state said it does not expect to open up grant applications until later this year or early next year.

“Texas spends funds wisely, not quickly,” Chris Bryan, a spokesperson for the office of Texas Comptroller of Public Accounts Glenn Hegar, said in an email, adding that the state was seeking to avoid fraud and abuse of the money. He also noted that the state legislature, which only meets every other year, was not in session in 2022, pushing decisions on spending into this year.

Lisa Ruzicka, a coordinator at Kansas-based addiction recovery non-profit Valley Hope Foundation, said that tracks her experience. While Valley Hope, which operates in seven states, has successfully obtained a grant from Arizona and been in touch with other states, it “has been really hard to figure out” how Texas’s grant process works, Ruzicka said.

“I’ve had a call in to the Texas attorney general for some time, and you just can’t get anybody to give you answers,” she said. The attorney general’s office did not respond to a request for comment.

DIFFERENT STATES, DIFFERENT STRUCTURES

The opioid settlements stem from thousands of lawsuits brought by state and local governments around the country, beginning in 2017, against drug manufacturers, distributors and pharmacies – the largest such mass litigation on behalf of the public since states sued tobacco giants in the 1990s.

Most of the settlements were nationwide agreements, though some state and local governments opted out and struck their own separate deals. The settling companies include the three largest U.S. drug wholesalers, drugmakers Johnson & Johnson and pharmacy operators Walgreens Boots Alliance Inc.

Most states share a significant portion of their total settlement funds with their city and county governments, which make their own independent decisions about how to spend.

The lack of clarity, so far, about how the money will be spent is reflected in the experiences of more than a dozen advocates and workers dealing with opioid addiction who spoke to Reuters for this story.

North Carolina has been widely praised for its transparency around opioid settlement funds, of which it has so far received more than $93 million, thanks to stringent requirements for local governments, which will receive 85% of the money, to report their spending decisions and an online dashboard where the public can track them. The state’s Department of Health and Human Services has already awarded more than $15 million in grants through a competitive application process.

Even there, however, the current state of settlement spending plans is not always clear. Associate director Lauren Kestner of the Charlotte-based Center for Prevention Services, which has been awarded an $800,000 state grant, praised the state’s approach overall but said some counties have yet to reveal much about their plans, and that organizations like hers have had to rely on established relationships with officials for information.

“Those of us who have been able to get to the table have had to work” to get there, she said.

Tricia Christensen, director of policy at Community Education Group, a regional organization covering Appalachia, also commended states like Massachusetts and North Carolina but said that in others – she named Mississippi and Alabama – addiction treatment workers on the ground have “no idea what’s happening.”

A spokesperson for the Alabama Attorney General’s office said the state’s spending was up to the legislature, and that all of the funds would be used to fight the opioid crisis. Mississippi officials did not respond to Reuters inquiries for this article.

Mississippi – uniquely among the states – has pledged fully 70% of its $203 million share of the distributor and J&J settlement to a single recipient, the University of Mississippi Medical Center. It did not respond to a request for comment about how it planned to spend the money.

Another crucial part of the story is that settlement funds can be used for so-called harm reduction, such as providing clean syringes and test kits for fentanyl, which has not been allowed for federal government funding in the past. Even some conservative states, where harm reduction has been controversial, are becoming more open to the approach.

Harm reduction groups see the settlements as a chance to move from the margins to the mainstream, but in some parts of the country they may face an uphill battle.

“For the first time we’re being told, you can do syringe services and you can use this money to do it,” Marc Burrows of Challenges Inc, South Carolina’s only harm reduction organization providing syringes, told Reuters in March.

But in May, the board overseeing the state’s opioid settlement denied a joint application by Challenges and a county health department to fund harm reduction efforts, without explaining its decision. The board did not respond to a request for comment.

(Reporting By Brendan Pierson in New York and Disha Raychaudhuri; editing by Alexia Garamfalvi and Claudia Parsons)

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WASHINGTON, D.C. – The Washington, D.C. Metro Police Department is investigating an Armed Carjacking that took place in Northwest D.C. early Sunday morning. Police have made one arrest and are still looking for additional suspects.

A carjacking attempt took a violent turn at approximately 4:17 am on the 2500 Block of Sherman Avenue, leaving the victim and one suspect injured. The incident escalated when gunfire erupted during the confrontation between the victim and at least one of the suspects. The gunshot wounds sustained by both individuals were assessed as non-life threatening. Promptly after the incident, both the victim and the suspect were located at local hospitals, where they are presently undergoing medical treatment.

20-year-old Tayshawn Brice-Hayes, of D.C., was arrested on Monday and charged with Armed Carjacking and Assault with a Dangerous Weapon.

This case remains under investigation. If you have any information about this incident, please take no action but call the police at (202) 727-9099 or text your tip to the Department’s TEXT TIP LINE at 50411.

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By Joanna Plucinska and Valerie Insinna

PARIS (Reuters) – India dominated the Paris Airshow for a second day on Tuesday, as Air India finalised a huge order for 470 planes from Airbus and Boeing.

The agreement, when sketched out in February, was the largest ever plane deal by number of aircraft. But it was surpassed on day one of the Paris show by Indian rival IndiGo’s order for 500 Airbus narrowbody jets.

Finalising the deal puts it in the aerospace industry’s order backlogs as firm orders. Until now, it was only a preliminary deal. Air India said it was worth $70 billion at list prices, though airlines typically get discounts on big orders worth at least half the headline price, analysts say.

Efforts by Indian airlines to keep pace with the world’s fastest-growing aviation market, serving the largest population, have sent industry records tumbling even though manufacturers are struggling to meet output goals due to supply chain snags.

But some analysts have expressed concern that airlines could be over-ordering jets in pursuit of the same passengers.

Air India’s deal includes 250 planes from Airbus and 220 from Boeing. The Airbus part comprises 210 A320neo and A321neo narrowbody jets and 40 A350 widebodies. Boeing’s deal is for 190 narrowbody 737 MAXs, plus 20 787 Dreamliner and 10 777X widebodies.

“Our ambitious fleet renewal and expansion programme will see Air India operate the most advanced and fuel-efficient aircraft across our route network within five years,” Air India Chief Executive Campbell Wilson said in a statement.

The buying spree by Indian airlines adds to signs of strong global demand for civilian aircraft as travel rebounds from the pandemic and airlines look to reduce their environmental impact with more fuel-efficient new models.

Demand has been hottest for short and medium-haul narrowbody jets, but engine maker Rolls-Royce said on Tuesday the market for long-haul widebodies was also coming back strongly.

However, planemakers and their suppliers remain concerned about their ability to meet bulging order books amid rising costs, parts shortages and a scarcity of skilled workers.

Lars Wagner, CEO of MTU Aero Engines, said on Tuesday labour shortages and problems with the production of castings were the biggest strains in the engine supply chain.

INDIAN RIVALRY

Air India, with its maharajah mascot, was once known for its lavishly decorated planes and stellar service, but its reputation declined in the mid-2000s as financial troubles mounted.

Its renaissance under the Tata conglomerate aims to capitalise on India’s growing base of fliers and large diaspora, currently mostly served by foreign rivals such as Emirates.

The mega-order will also put Air India on a stronger footing to compete with budget rival IndiGo, which has a majority share of the Indian market and a strong position in regional flights.

Elsewhere at the show on Tuesday, Ethiopian Airlines said it expected to announce an order for about 130 Airbus and Boeing planes shortly after the event.

Leasing company Avolon finalised an order for 40 Boeing 737 MAX 8 planes, while Philippine Airlines firmed up an order for nine Airbus A350-1000 widebody jets and Qantas finalised a deal for nine Airbus A220-300s, confirming a Reuters report.

(Reporting by Tim Hepher, Joanna Plucinska, Allison Lampert, Valerie Insinna and Aditi Shah; Editing by Mark Potter)

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WASHINGTON, D.C. – The Washington, D.C., Metro Police Department is asking for help locating 12-year-old Mariah C. Goodwin.

Goodwin was last seen at the 1700 block of Montana Avenue in Northeast, D.C. at 4:57 pm Saturday afternoon.

Police describe Goodwin as a “black female, 5’4″ tall, 180 lbs, with black hair and brown eyes. “It is unknown what clothing she was wearing.

If you have any information on Goodwin’s whereabouts, please contact 202-727-9099.

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MILAN (Reuters) – UniCredit can keep rewarding investors at the current pace for at least another two years, its chief executive said on Tuesday as the bank prepared to launch its second share buyback this year.

After walking away from a rescue deal for state-owned rival Monte dei Paschi, CEO Andrea Orcel has bet on shareholder remuneration to lift UniCredit’s share price.

Despite gaining 136% in value since Orcel took over in April 2021, the stock trades at a discount to book value, lagging peer Intesa Sanpaolo.

By cancelling shares bought at a discount, UniCredit can lift its trading multiples and reduce the gap.

“At some point somebody will discover that and then the attraction of the stock will increase,” Orcel told a Mediobanca investor conference.

UniCredit on Tuesday said it would conclude by the end of June the 2.34 billion euro ($2.55 billion) share buyback it launched in April, and kick off a second 1 billion euro tranche immediately after.

“I do absolutely think it’s sustainable,” Orcel said.

UniCredit has been returning 60% of its annual capital generation to shareholders, primarily via buybacks but also through dividends. Distribution as a proportion of income has been falling since 2021, however, thanks to rising profits.

Orcel has focused on capital-light businesses to maximise returns adjusted for the amount of capital deployed.

“Certainly we’ve indicated that we will sustain it in 2024 … We distribute what we can afford, from 2025 onwards organic capital generation will align more with profitability,” he said, adding UniCredit would then review whether it made sense to keep buying its own shares.

The boost to earnings, dividends and tangible book per share from the buyback sets the bar for bolt-on acquisitions, which UniCredit can consider in markets where it could expand its presence such as Romania, but only if they beat the buyback, Orcel said.

($1 = 0.9174 euros)

(Reporting by Valentina Za; Editing by Conor Humphries)

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By Andrew Chung

(Reuters) – The U.S. Supreme Court on Tuesday threw out a lower court ruling that blocked South Carolina from ending public funding to Planned Parenthood, giving the Republican-governed state another chance to defend its bid to deprive the reproductive healthcare and abortion provider of government money.

The justices sent the case back to the lower court to reconsider the case in light of their 7-2 ruling on June 8 in a similar case from Indiana preserving an individual’s right to sue government officials over alleged violations of rights created by federal programs that Congress enacts through its spending power, like the Medicaid health insurance program for the poor.

The Richmond, Virginia-based 4th U.S. Circuit Court of Appeals had barred South Carolina from terminating funding to Planned Parenthood South Atlantic, the organization’s regional affiliate, under Medicaid, because the organization provides abortions.

Planned Parenthood South Atlantic operates clinics in the South Carolina cities of Charleston and Columbia, where it provides physical exams, cancer and other health screenings, as well as abortions. The clinics annually serve hundreds of patients covered by Medicaid, a state-federal health insurance program covering low-income Americans.

The Planned Parenthood affiliate and Medicaid patient Julie Edwards sued in 2018 after Republican Governor Henry McMaster ordered state officials to end the organization’s participation in the state Medicaid program by declaring any abortion provider unqualified to provide family planning services.

At issue is whether recipients of Medicaid have the right to challenge state determinations that a medical provider is not qualified to provide certain services. The justices in 2020 turned away an appeal by the state at an earlier stage of the case.

The Supreme Court’s June 8 ruling allowed an Indiana nursing home resident’s family to sue over his care at a government-run facility under the Federal Nursing Home Reform Act. The justices made clear, however, that lawsuits like the family’s, brought under an 1871 law that helps individuals challenge illegal acts by state officials, are the exception, not the rule.

In the South Carolina case, the 4th Circuit in 2022 ruled in Planned Parenthood’s favor, finding that both the right to sue under the 1871 law and the state’s move to defund the organization violated Edwards’ right under Medicaid to freely choose a qualified provider.

“To allow the state to disqualify Planned Parenthood would nullify Congress’s manifest intent to provide our less fortunate citizens the opportunity to select a medical provider of their choice, an opportunity that the most fortunate routinely enjoy,” the 4th Circuit said.

South Carolina is one of numerous Republican-led states that have moved to ban or restrict abortion since the Supreme Court in 2022 overturned the landmark 1973 Roe v. Wade decision that had legalized the procedure nationwide.

South Carolina’s legislature in May passed a law to ban most abortions after about six weeks, but a judge blocked it. The law is a revised version of a previous ban that the state’s highest court struck down in January.

(Reporting by Andrew Chung in New York and Nate Raymond in Boston; Editing by Will Dunham)

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By Svea Herbst-Bayliss

NEW YORK (Reuters) – Proxy advisory firm Institutional Investor Services urged Alkermes shareholders to elect one of three director candidates proposed by activist hedge fund Sarissa Capital, arguing more outside pressure on management is needed right now.

ISS said Sarah Schlesinger, a physician with experience serving on public company boards, should be elected to Alkermes’ 11-member board at next week’s annual meeting. She should replace board member Richard Gaynor, a physician who serves as president of BioNTech US, the report said.

“A dissident nominee is needed on the board to add urgency and pressure on management to change,” ISS wrote in the report, adding “shareholders’ interests would be best served by adding a direct shareholder representative to the board.”

ISS however did not back Sarissa’s two other nominees, including the hedge fund’s co-founder Alex Denner.

Alkermes said Schlesinger, who has been nominated by Denner to sit on other boards, is not independent of the hedge fund.

ISS praised Alkermes, valued at $5.3 billion, for having refreshed its board with new directors several times over the last years and for its success in developing and bringing new drugs to market. But it criticized the company’s costs, saying SG&A spending as a percent of sales has been higher than rivals and has been growing.

Sarissa, which owns 8.45% of Alkermes, has challenged the company before. In 2021, the hedge fund and Alkermes reached an agreement to add a new director. Last year Sarissa dropped a board challenge, and this year it nominated three candidates.

This year’s campaign is drawing outsized attention because of Denner’s moves. Last week, he abruptly stepped down from the Biogen board, possibly to avoid a conflict of interest between the two companies which have a commercial relationship.

But ISS wrote it recommended against Denner because a conflict still exists after Biogen recommended his seat be filled by Susan Langer, who has been identified by Biogen as Denner’s romantic partner.

(Reporting by Svea Herbst-Bayliss; Editing by Conor Humphries)

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