Quick Glance: GE faces shareholder lawsuit over accounting and disclosures; judge urges settlement
- General Electric (GE.N) failed to convince a federal judge in Manhattan to dismiss a long-running shareholder lawsuit accusing the company of concealing risks in its power business.
- U.S. District Judge Jesse Furman encouraged both sides to reach a settlement on Thursday.
- Shareholders, led by two pension funds, claimed that the power unit became increasingly reliant on factoring to boost reported revenue at the expense of future cash flows.
- In a 47-page decision, Furman stated that the evidence showed a 'clear awareness' among management that the use of factoring at GE Power was contributing to a cash flow problem.
Quick Glance: Texas AG Ken Paxton Faces Bribery and Obstruction of Justice Charges
- Texas Attorney General Ken Paxton is facing charges of bribery, obstruction of justice, and 18 other offenses after a vote by the state's Republican-dominated House of Representatives.
- Paxton, known for his support of far-right GOP legal battles over guns, abortion, and immigration, and his frequent opposition to the Biden administration, will be suspended immediately following the historic vote.
- The Texas Senate, also controlled by Republicans, will hold a trial to determine whether the three-term attorney general should be permanently removed from his position as the state's top law enforcement officer.
Quick Glance: US General: Russia Cannot Win in Ukraine Militarily
- Ukrainian forces intercepted five Orlan-10 drones and two Zala drones, according to the General Staff of Ukraine’s Armed Forces.
- Russian forces targeted several communities in Sumy Oblast, according to the Sumy Oblast Military Administration.
- Dutch Prime Minister Mark Rutte said the Netherlands was considering giving F-16 fighter jets to Ukraine.
- General Mark Milley, Chairman of the Joint Chiefs of Staff, said Russia can no longer achieve victory over Ukraine through military means.
Quick Glance: Russian Forces Retreat Near Bakhmut, Ukraine; Wagner Speaks Out
- Ukrainian troops near the front line report that Russia is bombarding access roads to slow their advance.
- Ukrainian troops have advanced in places by over 1.6km.
- There is a deepening public split within Russia's forces between Wagner and the regular Russian military.
- Wagner boss Prigozhin claims his forces are still advancing.
Quick Glance: Lighthouses for Sale with Waterfront Views
- The U.S. government is offering six lighthouses for free to qualified organizations that promise to maintain them and make them available to the public.
- Four other lighthouses are being sold at auction.
- Since 2000, more than 150 lighthouses have been conveyed to new owners, including 81 handed over to state, local, and nonprofit agencies and about 70 sold at auctions.
Ukraine’s rocket and artillery forces struck five concentration areas of Russian troops, two ammunition depots, three artillery units at their firing ... Show more https://kyivindependent.com/general-staff-ukraine-hits-two-russian-ammunition-depots-over-past-day/
The General Staff of Ukraine's Armed Forces published photos of the IRIS-T air defense system on combat duty in Ukraine ... Show more
The NFL Draft was held last night and we have found our 1st round picks.
Congrats to our first rounders and welcome to the team.
Sincerely ... Show more
Russia is forcibly evacuating residents of Enerhodar in Zaporizhzhia Oblast, located around the Zaporizhzhia nuclear plant—Europe's largest— to the ... Show more https://kyivindependent.com/general-staff-9/