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EV giant Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has launched a new long-range rear-wheel drive (RWD) version of its <a href="https://www.benzinga.com/news/24/01/36840882/its-official-teslas-model-y-rewrites-history-as-first-ev-to-top-global-car-sales-just-as-musk-predic">best-selling Model Y SUV </a>in the U.S.
What Happened: The new Long Range RWD version has an estimated range of 320 miles, a top speed of 135 mph, and can go from 0-60 mph in 6.5 seconds. It starts at $44,990, the same starting price as the rear-wheel drive version of the vehicle it has replaced on the website. 
The replaced RWD variant had a range of just 260 miles. 
Tesla CEO Elon Musk took to social media platform X to state that the older RWD vehicles built by the company over the past several months can get more range for an additional $1500 to $2000 depending on the battery cells employed. This would add 40 to 60 miles of range to the car, he said, while adding that the company is working through regulatory approvals to enable it. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The "260 mile" range Model Y's built over the past several months actually have more range that can be unlocked for $1500 to $2000 (gains 40 to 60 miles of range), depending on which battery cells you have. Working through regulatory approvals to enable this. <a href="https://t.co/6d5Ntekk01">pic.twitter.com/6d5Ntekk01</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1786586974108909815?ref_src=twsrc%5Etfw">May 4, 2024</a></blockquote>
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&#8220;We have to pay the bills somehow,&#8221; Musk said as a reason for the extra charge. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We have to pay the bills somehow
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1786587379522027795?ref_src=twsrc%5Etfw">May 4, 2024</a></blockquote>
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Why It Matters: The new variant of the Model Y comes weeks after Tesla launched a new <a href="https://www.benzinga.com/news/24/04/38474737/tesla-increases-price-of-model-3-performance-by-1k-in-us-days-after-launch">Model 3 Performance variant </a>in the U.S. The new Model 3 variant has more power as compared to the other two versions of the mass-market electric sedan. 
This came after Tesla reported an <a href="https://www.benzinga.com/news/24/04/38068997/elon-musk-dwells-on-wokeness-geopolitics-population-crisis-but-mostly-stays-silent-on-teslas-gloomy" target="_blank" rel="noreferrer noopener">8.5% year-on-year decline in first-quarter deliveries </a>with 386,810 vehicles delivered across the world, marking the first time Tesla has reported a drop in quarterly deliveries in about four years since the COVID-19 pandemic in 2020. The company attributed the decline in volume partially to the production ramp of the refreshed Model 3 at its Fremont factory.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/05/38582801/s-p-dials-down-teslas-governance-score-amid-concerns-over-elon-musks-dominance-but-retains-bbb-credi" target="_blank" rel="noreferrer noopener">S&amp;P Dials Down Tesla's Governance Score Amid Concerns Over Elon Musk's Dominance — But Retains ‘BBB' Credit Rating</a>
Image Via Shutterstock

News

Tech

General

TSLA

Tesla Launches Model Y RWD Variant That Can Go Upto 320 Miles On A Single Charge: Elon Musk Promises More Range On Discontinued Variant For Additional $1500 To $2000

Jeff Bezos, the founder of&nbsp;Amazon.com Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), faced intense&nbsp;questioning by the Federal Trade Commission or FTC over his <a href="https://www.benzinga.com/news/24/04/38451439/jeff-bezos-and-amazon-ceo-andy-jassy-accused-of-deleting-chats-amid-antitrust-probe-the-ftcs-content">alleged use of&nbsp;the encrypted messaging</a> app Signal&nbsp;and its auto-delete feature.
What Happened: Last week, FTC accused&nbsp;Bezos and other top Amazon&nbsp;executives including CEO Andy Jassy&nbsp;of intentionally deleting Signal messages that could be relevant to an ongoing antitrust lawsuit against the company. 
Now newly reported transcript from the complaint revealed that Bezos, in his&nbsp;testimony to the FTC in&nbsp;October 2022,&nbsp;mostly denied or refused to&nbsp;answer the agency&#8217;s questions. However,&nbsp;he also indicated that he&nbsp;may have continued to use&nbsp;Signal and the auto-delete function&nbsp;until 2022 for sensitive company issues unrelated to the lawsuit, <a href="https://www.businessinsider.com/amazon-jeff-bezos-encrypted-messaging-auto-delete-ftc-antitrust-2024-5?IR=T">reported</a>&nbsp;Business Insider.
&#8220;I don&#8217;t know exactly when I stopped using it,&#8221; Bezos said, according to the transcript. &#8220;But I tried very hard to be careful not to use it, to preserve messages and only use disappearing messages on things that were not, you know, responsive to these document preservation requests.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38552447/insane-night-jim-cramer-praises-amazons-spectacular-q1-says-skyworks-will-hammer-ap?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Insane Night:&#8217; Jim Cramer Praises Amazon&#8217;s &#8216;Spectacular&#8217; Q1, Says Skyworks Will &#8216;Hammer Apple&#8217; While Supermicro Got &#8216;Whacked&#8217; Despite Good March Quarter</a>
The Amazon founder admitted to receiving a document-preservation notice regarding the FTC&#8217;s investigation but refrained from confirming whether Signal messages were included in the notice. He also stated that he couldn&#8217;t recall the precise timing of receiving the notice or the legal advice from Amazon&#8217;s lawyers regarding Signal (&#8220;a year-ish ago maybe,&#8221; he said).
&#8220;I may have made mistakes in that regard from time to time,&#8221; Bezos said. &#8220;I never would have used Signal under any circumstances with disappearing messages on or off to discuss any complicated business issues. It just doesn&#8217;t make sense.&#8221;
The FTC lawyer highlighted that despite receiving legal advice on document preservation in both 2020 and 2021, Bezos continued to use Signal&#8217;s disappearing messaging feature until 2022.
In response, Bezos stated that he wouldn&#8217;t have taken such action, emphasizing his adherence to the guidance of legal counsel as long as he comprehends it. &#8220;I&#8217;m human. I can make a mistake,&#8221; he said, adding, &#8220;But my practice would be – when it comes to legal matters, my practice is to have smart counsel and to listen to them.&#8221;
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Amazon had a <a href="https://www.benzinga.com/news/earnings/24/04/38534302/amazon-q1-earnings-highlights-revenue-beat-eps-beat-aws-hits-100-billion-annual-run-rate-and-more">strong first quarter in 2024</a>, The company disclosed net sales of $143.3 billion, marking a 13% increase compared to the last year. This figure exceeded the Street consensus estimate of $142.5 billion, according to <a href="https://www.benzinga.com/pro/feature/newsfeed?gspk=bHVrZWphY29iaTUzNDg&amp;gsxid=tdEE0VrK8Jeg&amp;ref=lukejacobi5348" target="_blank" rel="noreferrer noopener">data from Benzinga Pro.</a>
Amid the FTC probe, the potential impact on Amazon's various businesses was brought into question. However, Eric Jackson, the founder and president of EMJ Capital, perceives the actions of the federal government as an attempt to &#8220;make a lot of noise&#8221; by singling out companies such as Amazon.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/05/38605346/dogecoin-co-creator-and-mkbhd-slam-siri-after-apples-q2-earnings-its-such-a-piece-of-garbage?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Co-Creator And MKBHD Slam &#8216;Siri&#8217; After Apple&#8217;s Q2 Earnings: &#8216;It&#8217;s Such A Piece Of Garbage&#8217;</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Legal

Media

AMZN

FTC Grills Jeff Bezos Over Use Of Signal's Auto-Delete Feature Amid Amazon's Antitrust Suit: 'I Can Make A Mistake'

A 27-year-old Rogelio Villarreal has seemingly procured a pair of $14,000<a href="https://www.benzinga.com/money/how-to-invest-in-jewelry"> Cartier earrings</a> for his mother for merely $14, thanks to a listing error on the company website. 
What Happened: Villarreal, a surgery resident from Mexico, stumbled upon an Instagram ad for Cartier in December. Among the high-priced items, he noticed a pair of 18-carat rose-gold earrings with diamonds, listed for 237 Mexican pesos ($14). He purchased two pairs for his mother, as <a href="https://www.nytimes.com/2024/04/26/world/americas/mexico-cartier-sale-consumer-protection.html">reported</a> by The New York Times. 
After the purchase, the price for the earrings was adjusted on the Cartier website to 237,000 pesos, equivalent to about $14,000, sparking a months-long dispute between Villarreal and Cartier, which gained attention on social media and even drew the interest of a Mexican senator.
<a href="https://www.benzinga.com/markets/equities/24/04/38308699/slump-in-chinese-hong-kong-demand-sends-swiss-watch-exports-plummeting-negative-trend-is-even-wo">Cartier</a> made several attempts to cancel the order, the report said. When Villarreal would not cancel, company representatives reached out to him offering him a complimentary bottle of Cartier Cuvée champagne and a leather Cartier item as compensation for the canceled order. However, Villarreal filed a complaint with the Matamoros branch of the federal consumer protection agency and the agency has since made several attempts at mediating an agreement on the issue, the report added. 
In late April, Cartier reached out to Villarreal saying that his order would indeed be delivered. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">War is over. Cartier está cumpliendo. No soy moneda para caerle bien a los lambiscones. No sé quién es el empleado ni su status, si quieren saber pueden preguntarle a la marca, a mi no, yo no lo contraté. Ustedes ya solo están debatiendo entre socialismo y capitalismo.
&mdash; dre pute (@LordeDandy) <a href="https://twitter.com/LordeDandy/status/1782598637882692046?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
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On receiving the earrings, Villarreal also posted a picture of the parcel with the caption, &#8220;Once upon a December.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x2728;Once upon a December&#x2728; <a href="https://t.co/3wMvT7AjLw">pic.twitter.com/3wMvT7AjLw</a>
&mdash; dre pute (@LordeDandy) <a href="https://twitter.com/LordeDandy/status/1783956724350857439?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
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Social Media Reaction: The incident has sparked a debate on social media, with some users supporting Villarreal&#8217;s actions and others criticizing him for taking advantage of the situation. 
Sonora state senator Lilly Tellez is on the latter side of the argument. It is wrong to take advantage of a mistake to the detriment of another person even if the law is on your side, she said. 
&#8220;It is more important to be honorable than to have Cartier earrings,&#8221; she wrote. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Jóvenes: No es correcto lo que hizo el comprador de los aretes de Cartier. Está mal ser gandalla, aprovecharse de un error en perjuicio de otra persona, abusar, aunque la ley te avale, y burlarse de una empresa. Es más importante ser honorable que tener unos aretes de Cartier.
&mdash; Lilly Téllez (@LillyTellez) <a href="https://twitter.com/LillyTellez/status/1782895040727077250?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
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Read More:&nbsp;<a href="https://www.benzinga.com/news/24/05/38628243/elon-musk-impressed-by-tesla-cybertrucks-world-war-2-inspired-wrap-cool">Elon Musk Impressed By Tesla Cybertruck&#8217;s World War 2 Inspired Wrap: &#8216;Cool&#8217;</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image Via Shutterstock

Entertainment

Here's How A Man Got $14,000 Earrings For $14 From Cartier After A Website Typo

Yvette Wang,&nbsp;the chief of staff to&nbsp;the controversial exiled Chinese businessman&nbsp;Guo Wengui, has pleaded guilty&nbsp;to a fraud conspiracy. 
What Happened: Wang admitted to a fraud conspiracy that swindled over $1 billion from numerous victims across the globe. This plea comes just weeks before Guo, 53, is set to stand trial in Manhattan federal court for related charges, <a href="https://www.cnbc.com/2024/05/03/guo-wengui-chief-of-staff-pleads-guilty-to-1-billion-fraud.html">reported</a> CNBC. 
Guo, also known as&nbsp;Miles Guo, Miles Kwok,&nbsp;Brother Seven, and The Principal. He has been residing&nbsp;in the U.S. since&nbsp;2015, having&nbsp;reportedly fled China to avoid corruption charges.
Wang was initially&nbsp;scheduled to stand trial with&nbsp;Guo in the same case before her plea. She has&nbsp;agreed to pay $1.4 billion in restitution to the U.S. and forfeit the same amount. 
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/38583221/mike-johnson-predicts-trumps-return-for-second-term-i-have-big-plans-for-the-congress-and-for-the-co?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mike Johnson Predicts Trump&#8217;s Return For Second Term: &#8216;I Have Big Plans For The Congress And For The Country&#8217;</a>
&#8220;Yvette Wang played a leadership role in a broad and complex scheme to defraud thousands,&#8221; said Manhattan U.S. attorney Damian Williams. &#8220;Through false promises and lies, this scheme collected more than $1 billion from innocent victims located throughout the country and the world.&nbsp;Wang inflicted pain and loss on so many, and she will now be held to account for the harm she and others caused.&#8221;
Wang&nbsp;faces a maximum possible sentence&nbsp;of 10 years in prison&nbsp;for the charges of conspiracy&nbsp;to commit wire fraud and&nbsp;conspiracy to commit money laundering.&nbsp;Her sentencing is scheduled for Sept. 10.
Why It Matters: This development comes just weeks before Guo&#8217;s trial. Prosecutors have accused&nbsp;Guo, an associate of former&nbsp;Trump White House aide&nbsp;Steve Bannon, of deceiving&nbsp;his online followers with promises&nbsp;of high&nbsp;investment returns. Guo has pleaded&nbsp;not guilty to these charges.
Guo&#8217;s legal troubles have been ongoing. In September 2022, three&nbsp;companies linked to Guo, including&nbsp;GTV Media,&nbsp;agreed to pay nearly $540&nbsp;million to settle civil allegations&nbsp;by the SEC of making&nbsp;illegal offerings of stock and&nbsp;digital assets, the report noted. 
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38539108/trump-says-if-supreme-court-decides-president-doesnt-get-immunity-then-biden-will-be-prosecuted-for?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Says If Supreme Court Decides President Doesn&#8217;t Get Immunity Then Biden &#8216;Will Be Prosecuted For All His Crimes&#8217;</a>
Disclaimer:&nbsp;This content was partially produced&nbsp;with the help of&nbsp;AI tools and&nbsp;was&nbsp;reviewed and published by Benzinga editors.
Image Via Shutterstock

Politics

Chief Of Staff In Trump Aide's Inner Circle Pleads Guilty To $1B Fraud Scheme

Tesla Inc. CEO Elon Musk expressed surprise at the Biden administration's alleged <a href="https://www.benzinga.com/news/23/03/31152736/china-says-us-hurting-its-own-credibility-by-rehashing-covid-19-lab-leak-theory-respect-science-and">censorship of the COVID lab leak theory</a> on social media platforms, including Mark Zuckerberg's Meta Platforms Inc. and Alphabet Inc.'s YouTube, apart from Amazon.com Inc.
What Happened: The tech billionaire took to X, formerly Twitter, on Friday to share his thoughts on the alleged censorship policies of the Biden administration.
Responding to a House GOP report on the White House's alleged censorship and "pressure" on Big Tech companies, Musk expressed surprise, saying, "Wow."
The report cites internal emails sent at Meta, where executives expressed concerns about underscored "tense conversations" about fact-checking and removing pieces of content posted on Facebook and Instagram.
See Also: <a href="https://www.benzinga.com/news/24/05/38554757/sundar-pichais-google-knocks-bidens-door-for-immigration-reform-to-draw-global-ai-talent">Sundar Pichai&#8217;s Google Knocks Biden&#8217;s Door For Immigration Reform To Draw Global AI Talent</a>
"In February 2021, in response to continued public pressure and tense conversations with the new Administration, we started removing the five Covid claims that had been repeatedly debunked…" said an executive in an email to Zuckerberg.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Wow <a href="https://t.co/WhoMQzxImD">https://t.co/WhoMQzxImD</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1786238084511654264?ref_src=twsrc%5Etfw">May 3, 2024</a></blockquote>
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Why It Matters: Musk&#8217;s tweet comes amid concerns about the Biden administration&#8217;s alleged censorship policies.
On Wednesday, the <a href="https://www.benzinga.com/news/24/05/38572315/elon-musk-finds-smoking-gun-constitutional-violation-as-jim-jordan-challenges-mark-zuckerbergs-faceb">tech billionaire reacted</a> to Rep. Jim Jordan (R-Ohio) and his criticism of the Biden administration&#8217;s alleged suppression of the lab leak theory, which suggests that the COVID-19 virus may have originated from a laboratory in Wuhan, China.
China has been <a href="https://www.benzinga.com/news/23/03/31152736/china-says-us-hurting-its-own-credibility-by-rehashing-covid-19-lab-leak-theory-respect-science-and">vocal in its opposition</a> to the lab leak theory, with the U.S. intelligence community&#8217;s involvement being cited as evidence of the &#8220;politicization of origin tracing.&#8221; China also warned against pushing the lab leak theory, stating that it would only hurt the U.S.&#8217;s credibility.
Read Next: <a href="https://www.benzinga.com/news/24/05/38545003/elon-musk-reacts-as-mit-engineer-says-were-at-fraction-of-1-in-ai-investment-imagine-whats-about-to?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts As MIT Engineer Says We&#8217;re At &#8216;Fraction Of 1% In AI Investment. Imagine What&#8217;s About To</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photos courtesy: Flickr and the White House

Social Media

Elon Musk Reacts After House Report Reveals Mark Zuckerberg's Meta And Others Were Pressured By White House To Censor COVID Lab Leak Theory

A senior Ukrainian intelligence official has suggested that Ukraine may have to engage in discussions with Russia to bring an end to the <a href="https://www.benzinga.com/topic/ukraine-russia-war">ongoing war</a>.
What Happened: Major-General Vadym Skibitsky, the deputy chief of Ukraine&#8217;s HUR military intelligence directorate, stated that negotiations would eventually be necessary to conclude the war, as is the case with any conflict, reported Reuters, citing the Economist magazine.
Skibitsky also noted that he does not see a clear path for Ukraine to win the war on the battlefield alone. He suggested that both sides are currently positioning themselves for potential talks, which he believes could commence no earlier than the second half of 2025.
&#8220;Such wars can only end with treaties, he says. Right now, both sides are jockeying for the &#8216;the most favorable position&#8217; ahead of potential talks. But meaningful negotiations can begin only in the second half of 2025 at the earliest, he guesses.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/05/38573262/cash-strapped-fiskers-ceo-lists-luxurious-hollywood-mansion-for-more-than-companys-worth-as-bankrupt?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cash-Strapped Fisker&#8217;s CEO Lists Luxurious Hollywood Mansion For More Than Company&#8217;s Worth As Bankruptcy</a>
Ukrainian President Volodymyr Zelenskyy has consistently rejected the idea of negotiations with Russia. However, Skibitsky&#8217;s comments align with those of other Ukrainian officials, including Foreign Minister Dmytro Kuleba, who recently hinted at the possibility of future talks with Russia.
Why It Matters: The suggestion of potential negotiations comes amid escalating tensions between Russia and the West. On Monday, <a href="https://www.benzinga.com/news/24/05/38607615/russian-troops-enter-us-military-base-in-niger-amid-rising-tensions">Russian troops entered a U.S. military base in Niger</a>, following the junta&#8217;s order to expel U.S. forces. 
The U.S. also recently <a href="https://www.benzinga.com/24/05/38575211/us-slams-russia-for-alleged-chemical-weapons-use-in-ukraine-imposes-new-sanctions">accused Russia of using chemical weapons in Ukraine</a>, leading to the imposition of new sanctions on Russian entities. The U.S. State Department released a statement accusing Russia of breaching the Chemical Weapons Convention (CWC) by using the choking agent chloropicrin against Ukrainian forces.
Meanwhile, <a href="https://www.benzinga.com/news/24/04/38522456/russian-defense-systems-intercept-six-us-made-missiles-launched-by-ukraine">Russian air defense systems intercepted six U.S.-made missiles</a> launched by Ukraine. These missiles were part of a $300 million military aid package that U.S. President Joe Biden <a href="https://www.benzinga.com/news/24/03/37656991/ukraine-to-receive-300-million-in-us-military-aid-as-battle-with-russia-intensifies">approved</a> for Ukraine on Mar. 12, as disclosed by a U.S. official last week.
Read Next: <a href="https://www.benzinga.com/news/24/05/38572315/elon-musk-finds-smoking-gun-constitutional-violation-as-jim-jordan-challenges-mark-zuckerbergs-faceb?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Finds &#8216;Smoking Gun&#8217; Constitutional Violation As Jim Jordan Challenges Mark Zuckerberg&#8217;s Facebook</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photos courtesy: Shutterstock

Global

Ukraine May Need To Negotiate With Russia To End War, Says Top Intel Officer: 'Both Sides Are Jockeying For The The Most Favorable Position'

Rep. Henry Cuellar (D-Texas) and his wife, Imelda Cuellar, have been charged with accepting approximately $600,000 in bribes from an Azerbaijani government-owned oil company and a Mexican bank, the Justice Department announced on Friday.
What Happened: The Cuellars were&nbsp;charged with multiple counts of&nbsp;conspiracy, bribery, wire fraud, money&nbsp;laundering,&nbsp;and violating a ban on&nbsp;acting as agents of a&nbsp;foreign organization. 
The Justice Department alleged that the&nbsp;bribes were laundered from 2014-21&nbsp;through&nbsp;a series of &#8220;sham consulting contracts&#8221; via&nbsp;middlemen and front companies owned&nbsp;by Imelda Cuellar.&nbsp;
&#8220;According to court documents, beginning in at least December 2014 and continuing through at least November 2021, Congressman Cuellar and Imelda Cuellar allegedly accepted approximately $600,000 in bribes from two foreign entities: an oil and gas company wholly owned and controlled by the Government of Azerbaijan, and a bank headquartered in Mexico City,&#8221; the department stated. 
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/38614771/former-trump-lawyer-was-very-despondent-and-saddened-for-not-getting-top-role-in-administration-hush?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Former Trump Lawyer Was &#8216;Very Despondent And Saddened&#8217; For Not Getting Top Role In Administration, Hush Money Trial Reveals</a>
&#8220;In exchange for the bribes paid by the Azerbaijani oil and gas company, Congressman Cuellar allegedly agreed to use his office to influence U.S. foreign policy in favor of Azerbaijan,&#8221; the department said. 
Adding, &#8220;In exchange for the bribes paid by the Mexican bank, Congressman Cuellar allegedly agreed to influence legislative activity and to advise and pressure high-ranking U.S. Executive Branch officials regarding measures beneficial to the bank.&#8221;
The Texas Democrat refuted the allegations in a released statement. Following their court appearance in Houston, the couple was granted bail. Should they be convicted, they may potentially endure decades behind bars, <a href="https://www.bbc.com/news/world-us-canada-68940479">reported</a> BBC. 
&#8220;I want to be clear that both my wife and I are innocent of these allegations,&#8221; the Congressman said on Friday.
Why It Matters: Sen. Robert Menendez (D-N.J.), <a href="https://www.benzinga.com/government/23/09/34824846/us-senator-robert-menendez-wife-face-bribery-charges-will-it-cast-shadow-on-menendezs-career">faced similar charges</a> last year. He and his wife were indicted on criminal bribery charges for allegedly maintaining a &#8220;corrupt relationship&#8221; with three New Jersey businessmen. 
The indictment alleged that Menendez and his wife received &#8220;hundreds of thousands of dollars&#8221; in bribes and used the senator&#8217;s influence to enrich several businessmen from New Jersey and the Egyptian government.
&#8220;Over $480,000 in cash — much of it stuffed into envelopes and hidden in clothing, closets, and a safe—was discovered in the home, along with over $70,000 in Nadine Menendez&#8217;s safe deposit box,&#8221; the indictment said, at the time. 
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38521425/un-confirms-north-korean-ballistic-missile-landed-in-ukraines-kharkiv-in-january-amid-war-with-russi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">UN Confirms North Korean Ballistic Missile Landed In Ukraine&#8217;s Kharkiv In January Amid War With Russia</a>
Disclaimer:&nbsp;This content was partially produced&nbsp;with the help of&nbsp;AI tools and&nbsp;was&nbsp;reviewed and published by Benzinga editors.
Image Via Picryl

Democratic Lawmaker Henry Cuellar And Wife Accused of Accepting $600K In Bribes: '...Are Innocent Of These Allegations,' Says Congressman

Tesla Inc CEO Elon Musk on Friday expressed his appreciation for a <a href="https://www.benzinga.com/news/24/02/37329071/tesla-investor-relations-head-thinks-baby-blue-wrap-is-a-brave-choice-on-cybertruck">Cybertruck wrap </a>designed after the P-51 Mustang Bomber. 
What Happened: &#8220;Cool,&#8221; Musk wrote in response to pictures of the new wrap shared by Unplugged Performance, an automotive customizer located near Tesla&#8217;s design center in Hawthorne, California. 
The P-51 Mustang Bomber-inspired wrap was designed for Mexican entrepreneur Alejandro Salomon. Every detail was hand drawn and the vehicle was paired with 20-inch UP-03 Beadlock wheels and BFG KO3 tires to complete the look, the designer said. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Cool
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1786542715993538892?ref_src=twsrc%5Etfw">May 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
&#8220;It&#8217;s unreal! Thank you for the hard and incredible work!!,&#8221; Salomon replied. 
About the P51 Mustang: The P-51 Mustang was a fighter bomber originally manufactured by North American Aviation, used during World War 2, and eventually phased out in 1957.
&#8220;Possessing excellent range and maneuverability, the P-51 operated primarily as a long-range escort fighter and also as a ground attack fighter-bomber. The Mustang served in nearly every combat zone during WWII, and later fought in the Korean War,&#8221; the National Museum of the United States Air Force says about the fighter. 
Tesla Wraps And Customization: Wraps are also available at Tesla&#8217;s online shop. However, Tesla-provided wraps are<a href="https://www.benzinga.com/news/24/03/37907754/cybertruck-to-get-more-color-wrap-options-now-you-can-buy-teslas-truck-in-iridescent-purple-as-well"> either clear or color paint films</a> priced between $5000 to $6500. 
For customers looking for more individualistic wraps, third-party customizers offer more options.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/partner/commodities/24/04/38487758/why-gold-prices-are-at-record-highs-and-what-it-means-for-miners">NHTSA Closes 3-Year-Old Probe Into Tesla Model X, S Vehicles Over Failure Of Touchscreen, Loss Of Rearview Camera Display</a>
Photo by Mike Mareen on Shutterstock

Elon Musk Impressed By Tesla Cybertruck's World War 2 Inspired Wrap: 'Cool'

Mark Hamill, the iconic actor known for his portrayal of Luke Skywalker in the "Star Wars" franchise, made an unexpected appearance at the White House press room on Friday, giving President Joe Biden a Star Wars-inspired nickname.
What Happened: Hamill, during his surprise visit to the White House press room, dubbed Biden &#8220;Joe-B-Wan Kenobi,&#8221; a playful nod to the &#8216;Star Wars&#8217; character Obi-Wan Kenobi.
Hamill, who was sporting sunglasses, began his address by asking the reporters if they had &#8220;Mark Hamill will lead the press briefing&#8221; on their bingo cards.
He then shared his experience of meeting Biden in the Oval Office, where he was given a pair of aviator glasses. When he asked if he could call the president &#8220;Joe-B-Wan Kenobi,&#8221; Biden agreed. Hamill also praised Biden&#8217;s work, calling him the "most legislatively successful president in my lifetime."
Hamill went on to add "I don't have to go through the list — the Bipartisan Infrastructure Law, the PACT Act, the CHIPS Act, all of that — Inflation. Fifteen million jobs. Look, it's all good."
See Also: <a href="https://www.benzinga.com/news/24/05/38607615/russian-troops-enter-us-military-base-in-niger-amid-rising-tensions?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Russian Troops Enter US Military Base In Niger Amid Rising Tensions</a>
This isn&#8217;t Hamill&#8217;s first visit to the White House. He had previously been to the Carter and Obama administrations but had never been invited to the Oval Office. This visit, he said, was particularly special.
Why It Matters: Hamill&#8217;s visit to the White House comes at a crucial time in U.S. politics. The 2024 presidential election is shaping up to be a tight race, with Biden and former President Donald Trump <a href="https://www.benzinga.com/general/politics/24/05/38598789/trump-vs-biden-2024-election-frontrunners-tied-in-new-poll-which-candidate-gains-in-popularity-a">tied in the latest poll</a>.
This visit, along with Biden&#8217;s recent <a href="https://www.benzinga.com/news/24/04/38475853/joe-biden-reverses-stance-agrees-to-debate-ex-president-ahead-of-2024-rematch-trump-makes-fun-of-me">agreement to debate Trump</a>, could potentially influence public opinion and voter sentiment.
Meanwhile, in a recent <a href="https://www.benzinga.com/news/24/04/38475660/biden-reveals-personal-struggles-after-first-wifes-death-let-me-just-go-to-the-delaware-memorial-and">candid interview</a> with radio host Howard Stern, President Biden revealed his thoughts of suicide following the tragic death of his first wife and daughter. "I used to sit there and just think, ‘I'm going to take out a bottle of scotch,' I'm going to just drink it and get drunk,&#8217;" Biden said.
Read Next: <a href="https://www.benzinga.com/news/24/05/38612403/biden-makes-first-public-comments-on-pro-palestinian-campus-protests-were-a-civil-society-and-order">Biden Makes First Public Comments On Pro-Palestinian Campus Protests: &#8216;We&#8217;re A Civil Society And Order Must Prevail&#8217;</a>
Photos courtesy: Wikimedia and Shutterstock

'Star Wars' Actor Mark Hamill Makes Surprise White House Appearance, Coins Biden 'Joe-B-Wan Kenobi'

Tesla and SpaceX CEO&nbsp;Elon Musk&nbsp;has expressed growing concern about the future of the U.S. dollar, citing the <a href="https://www.benzinga.com/general/24/03/37851477/u-s-national-debt-has-increased-by-nearly-8-5-billion-per-day-over-the-past-year">escalating national debt</a> as a potential catalyst for an impending economic crisis.
What Happened: On Friday, Musk was replying to a user on X, formerly Twitter, when he voiced his apprehensions about the U.S. dollar&#8217;s stability. &#8220;We need to do something&nbsp;about our national debt or&nbsp;the dollar will be worth&nbsp;nothing.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We need to do something about our national debt or the dollar will be worth nothing
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1786365165463605754?ref_src=twsrc%5Etfw">May 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/38571981/ray-dalio-gives-a-nod-to-larry-summers-contention-that-federal-reserve-in-a-treacherous-environment?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ray Dalio Gives A Nod To Larry Summer&#8217;s Contention That Federal Reserve In A &#8216;Treacherous Environment&#8217;: &#8216;Should Be Very Cautious About Possible Rate Cutting&#8217;</a>
He later reiterated his point, saying, &#8220;Just stating the obvious.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Just stating the obvious
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1786443824132169888?ref_src=twsrc%5Etfw">May 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The U.S. national debt has been a subject of growing concern. In March, it was reported that the national debt had been increasing at an alarming rate of nearly $8.5 billion per day over the past year. As of May 2, the total <a href="https://fiscaldata.treasury.gov/datasets/debt-to-the-penny/debt-to-the-penny" target="_blank" rel="noreferrer noopener">national debt</a> stands at over $34 trillion.
Last month, the issue of the U.S. national debt&#8217;s sustainability was brought to the forefront by the International Monetary Fund or IMF deputy chief,&nbsp;Gita Gopinath, who stressed the <a href="https://www.benzinga.com/general/macro-notification/24/04/38337484/is-the-us-national-debt-unsustainable-we-cant-have-a-deficit-of-7-of-the-gdp">urgency of reducing the federal deficit</a> from its current 7% of GDP.
&#8220;The U.S. is running [a] very large deficit for a country with a strong demand, and they still have to deal with the last mile to bring inflation down,&#8221; Gopinath stated. 
Meanwhile, in an earlier post, Musk also suggested that&nbsp;<a href="https://www.benzinga.com/24/04/38223975/elon-musk-has-a-fix-for-ticking-us-debt-bomb-but-it-has-a-slight-chance-of-killing-us">AI could potentially solve the debt crisis</a>. &#8220;AI will solve this (slight chance of killing us),&#8221; he said in April. 
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/05/38563545/powell-keeps-hawks-at-bay-says-interest-rate-hike-unlikely-stocks-gold-rally-while-treasury-yiel?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Powell Keeps Hawks At Bay, Says Interest Rate Hike &#8216;Unlikely&#8217;: Stocks, Gold Rally, While Treasury Yields, Dollar Tumble</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock

Economics

Elon Musk Issues Stark Warning Amid Rising National Debt: '...The Dollar Will Be Worth Nothing'

Choosing what to watch this weekend after a grueling week can daunt even the most enthusiastic couch potatoes among us. But fret not, as the advent of May brings with it a fresh batch of releases from Netflix. The beloved streaming giant has rolled out a slew of new movies and some eagerly awaited series. From the comedic genius of Jerry Seinfeld to an intriguing Korean drama, there's a flavor for every taste bud.
Here are five handpicked TV shows and movies that you absolutely must carve out time for this weekend:
<h3 class="wp-block-heading">A Man in Full</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03063844/A-man-in-full-1024x576.jpeg" alt="Although the tale is fictional, 'A Man in Full' mirrors the real-life trials faced by tycoons in similar scenarios. Image credit: Netflix/ Tudum" class="wp-image-321119" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03063844/A-man-in-full-1024x576.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03063844/A-man-in-full-300x169.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03063844/A-man-in-full-768x432.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03063844/A-man-in-full.jpeg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Although the tale is fictional, &#8216;A Man in Full&#8217; mirrors the real-life trials faced by tycoons in similar scenarios. Image credit: Netflix/ Tudum</figcaption></figure>
Immerse yourself in the tumultuous world of Charlie Croker, a real estate titan in Atlanta, as he faces the daunting prospect of bankruptcy and the potential ruin of his empire. Jeff Daniels breathes life into Croker in &#8220;A Man in Full,&#8221; a limited series inspired by Tom Wolfe's novel. While the story doesn't trace real events, it spins a narrative that mirrors the high-stakes challenges of industry moguls.
<h3 class="wp-block-heading">Unfrosted: The Pop-Tart Story</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03064232/unfrosted-1024x576.jpeg" alt="Expect a mix of explosive corporate clashes and humorous twists, all delivered in Seinfeld's signature comedic style. Image credit: Netflix/ Tudum" class="wp-image-321141" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03064232/unfrosted-1024x576.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03064232/unfrosted-300x169.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03064232/unfrosted-768x432.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03064232/unfrosted.jpeg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Expect a mix of explosive corporate clashes and humorous twists, all delivered in Seinfeld&#8217;s signature comedic style. Image credit: Netflix/ Tudum</figcaption></figure>
Jerry Seinfeld makes his directorial debut with a dash of humor in &#8220;Unfrosted: The Pop-Tart Story,&#8221; where the breakfast staple is the unlikely hero. The film, starring Seinfeld alongside Melissa McCarthy and Hugh Grant, delves into the fierce rivalry between Kellogg&#8217;s and Post. Set in 1963, this comedic exploration follows their race to revolutionize breakfast, culminating in the creation of the beloved frosted pastry. Expect a mix of corporate intrigue and light-hearted comedy.
<h3 class="wp-block-heading">The Atypical Family</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03064504/A-Atypical-Family-1024x576.jpeg" alt="&quot;The Atypical Family,&quot; an enchanting South Korean Netflix Original, blends romance with fantasy. Image credit: Netflix/ Tudum" class="wp-image-321147" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03064504/A-Atypical-Family-1024x576.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03064504/A-Atypical-Family-300x169.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03064504/A-Atypical-Family-768x432.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03064504/A-Atypical-Family.jpeg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">&#8216;The Atypical Family&#8217; is an enchanting South Korean Netflix Original, that blends romance with fantasy. Image credit: Netflix/ Tudum</figcaption></figure>
From the creative minds of South Korea comes &#8220;The Atypical Family,&#8221; a romantic fantasy drama that explores the quirky Bok Gwi Doo and his family, all endowed with mysterious powers. When modern-day challenges strip them of their abilities, the arrival of Do Da He might just restore their lost magic. This series blends charm with the supernatural in a narrative that's both heartwarming and engaging.
<h3 class="wp-block-heading">The Peanut Butter Falcon</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03070951/The-Peanut-Butter-Falcon-1024x576.jpg" alt="Zack Gottsagen, an actor with Down's syndrome, plays Zak in The Peanut Butter Falcon. Image credit: Netflix/ Tudum" class="wp-image-321191" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03070951/The-Peanut-Butter-Falcon-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03070951/The-Peanut-Butter-Falcon-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03070951/The-Peanut-Butter-Falcon-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03070951/The-Peanut-Butter-Falcon.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Zack Gottsagen, an actor with Down's syndrome, plays Zak in The Peanut Butter Falcon. Image credit: Netflix/ Tudum</figcaption></figure>
Step into a heartening adventure with &#8220;The Peanut Butter Falcon,&#8221; a tale of friendship against the odds. This American comedy-drama follows a young man with Down syndrome who escapes from an assisted living facility and forms an unexpected bond with a fisherman on the lam. Starring Zack Gottsagen, Shia LaBeouf, and Dakota Johnson, the film is a testament to the unpredictable journeys that shape us.
<h3 class="wp-block-heading">Roast of Tom Brady</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03071238/Greatest-Roast-of-all-time-tom-brady-1024x576.jpeg" alt="With Tom Brady at the center, nothing is off-limits in this laughter fest. Image credit: Netflix/ Tudum" class="wp-image-321196" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03071238/Greatest-Roast-of-all-time-tom-brady-1024x576.jpeg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03071238/Greatest-Roast-of-all-time-tom-brady-300x169.jpeg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03071238/Greatest-Roast-of-all-time-tom-brady-768x432.jpeg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03071238/Greatest-Roast-of-all-time-tom-brady.jpeg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">With Tom Brady at the center, nothing is off-limits in this laughter fest. Image credit: Netflix/ Tudum</figcaption></figure>
Brace yourself for a laughter riot with the &#8220;Roast of Tom Brady,&#8221; part of Netflix's &#8220;Is a Joke Fest.&#8221; Hosted by Kevin Hart at the Kia Forum in Los Angeles, this event sees the seven-time Super Bowl champion as the good-natured target. With an array of comedians and sports legends lined up, including Jeff Ross and Rob Gronkowski, expect a barrage of jokes aimed at the unflappable Brady, who coolly claims he's &#8220;un-roastable.&#8221;
Photo via Shutterstock

Netflix And Chill: 5 Fresh Releases You Won't Want To Miss Watching This Weekend

BZFD

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

BZFDW

&nbsp;Vizsla Silver Corp. (TSXV:<a class="ticker" href="https://www.benzinga.com/stock/VZLA#TSXV">VZLA</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZLA#NYSE">VZLA</a>) (Frankfurt: 0G3) ("Vizsla Silver" or the "Company") is pleased to announce that it has now issued 448,137 common shares (the "Consideration Shares") for the previously announced asset purchase agreement (the "Acquisition Agreement") dated March 5, 2024, entered into with Inca Azteca Gold S.A.P.I. de C.V. (the "Seller") and the Company's wholly owned subsidiary, Minera Canam, S.A. de C.V. ("Minera Canam") pursuant to which the Company agreed to acquire, through Minera Canam, all of the Seller's right, title and interest in and to the mineral concessions (the "Acquisition").&nbsp;
The Company will acquire two large claims comprising 10,667.0 Ha (the "El Richard – San Enrique claims" or "San Enrique prospect") located south and partially adjacent to the Company's Panuco project (the "Panuco Project" or "Panuco").&nbsp; The San Enrique prospect is situated along the highly prospective Panuco – San Dimas corridor and is covered 100% with LiDAR and partially covered with high-resolution aero-magnetic and radiometric surveys.

TSXV:VZLA

VZLA

Vizsla Silver Provides Further Update On Acquisition Of Large Claim Package Along Highly Prospective Structural Trend, South Of Panuco

<a href="https://www.nytimes.com/2024/05/03/business/media/paramount-skydance-exclusive-talks-lapse.html#:~:text=Paramount's%20special%20committee%20is%20set,broadcast%20networks%2C%20like%20Paramount's%20CBS.">https://www.nytimes.com/2024/05/03/business/media/paramount-skydance-exclusive-talks-lapse.html#:~:text=Paramount's%20special%20committee%20is%20set,broadcast%20networks%2C%20like%20Paramount's%20CBS.</a>
&nbsp;
Paramount told Skydance that it would not extend the Hollywood studio's exclusive window to negotiate a merger, two people with knowledge of the decisions said Friday, imperiling the deal but opening the door to other suitors for the owner of MTV and Nickelodeon.
The development throws up a major roadblock for Skydance, a movie studio that has been negotiating a complicated deal to merge with Paramount for months. Many Paramount investors have come out against that deal, saying it would <a href="https://www.nytimes.com/2024/04/04/business/media/paramount-board-shari-redstone.html">enrich Shari Redstone</a>, the company's board chair, at the expense of other shareholders.
The 30-day period for exclusive talks with a special committee of Paramount's board expires at the end of Friday. It is unclear what Skydance, which was founded by the tech scion and producer David Ellison, and its backer, RedBird Capital Partners, will do next. The company could wait for Paramount to re-engage in negotiations, could make a higher bid or could walk away. The company is wary of being used by Paramount to drive up the price for another bidder.
Paramount's special committee will now probably focus on negotiating with another suitor, Sony Pictures Entertainment, which has teamed up with the private equity giant Apollo Global Management to make <a href="https://www.nytimes.com/2024/05/02/business/media/sony-apollo-paramount-deal.html">a $26 billion bid</a> for the company. Paramount's shareholders prefer the all-cash offer — which would include the assumption of Paramount's debt — because it would give them a substantial premium on the company's current stock price.
&nbsp;
Paramount's special committee is set to meet on Saturday to discuss the deal, the two people with knowledge of the company's plans said.
The deal with Sony and Apollo is not without its own risk. Government regulations restrict foreign ownership of broadcast networks, like Paramount's CBS. Sony Pictures Entertainment is a division of the Tokyo-based Sony Group, and it's unlikely that it could obtain a license to own CBS. But there are potential remedies to that problem: Apollo could apply to hold the license to CBS, or the group could decide to sell the network.
Paramount's fate ultimately lies in Ms. Redstone's hands. Her control of National Amusements, Paramount's parent company, gives her the power to block any deal. Ms. Redstone has already signed off on a potential deal between Skydance and National Amusements that would allow her to sell her stake for around $2 billion, but that deal hinges on approval of a merger of Paramount and Skydance.
CNBC earlier <a href="https://www.cnbc.com/2024/05/03/paramount-news-skydance-could-drop-bid-after-sony-apollo-offer.html">reported</a> that Paramount was planning to end exclusive negotiations with Skydance.

PARA

PARAA

"Paramount Will Let Exclusive Talks With Skydance Lapse, Imperiling Deal; Negotiations Are Now Likely To Focus On Another Suitor, Sony, Which Has Teamed Up With The Private Equity Giant Apollo On A $26B Bid" - NY Times

Earnings

HCWB

HCW Biologics Says Due To Default Issue, Concluded Financial Statements As Of & For Year Ended Dec 31, 2023 Should Be Restated & No Longer Be Relied Upon

Contracts

On May 1, Eagle Materials Inc TLCC Partners, HM, HMSC Entered Into A Put Option Agreement; Under Agreement, TLCC Partners Granted Put Option To HMSC; Put Option Entitles HMSC To Require TLCC Partners To Purchase All Partnership Interests Held By HMSC In JV; Under Put Option, TLCC Partners To Buy All Partnership Interests Of HMSC In JV For Payment Of Amount Equal To 50% Of $1.1B

Growing wealth is not as difficult as it seems, according to a self-made millionaire Ramit Sethi. It's easy enough that Sethi thinks it takes only three "deceptively" simple steps to accumulate wealth and gain financial independence.
Sethi is the author of the book "I Will Teach You To Be Rich" which outlines a six-week process to help readers choose the right investments to make sure their money grows.
Whether you're worried about your home loans, student loans, or any other debt, or if it's about asking for that big raise you've been eyeing, Sethi has a strategy for you.
Sethi revealed three "boring" and "deceptively" simple steps to grow wealth, in an earlier interview <a href="https://www.cnbc.com/2023/07/07/self-made-millionaire-ramit-sethi-no-1-way-to-grow-your-wealth.html">with</a> CNBC.
<h2 class="wp-block-heading">Three Steps To Grow Your Wealth</h2>
<h3 class="wp-block-heading">1. Start Investing And Increase It Steadily</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03083837/Wealth-1-1024x576.jpg" alt="" class="wp-image-321378" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03083837/Wealth-1-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03083837/Wealth-1-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03083837/Wealth-1-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03083837/Wealth-1-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03083837/Wealth-1.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representational image of a person investing &#x7C; Photo courtesy: Dall-E</figcaption></figure>
The first step to becoming wealthy is to start investing. It's a habit and once formed, you can set it on autopilot and let the money grow itself.
"Invest a percentage of your income every year automatically and increase that percentage 1%."
Suppose you're wondering whether your investments can perform as well as those of rich people who have access to options that regular people don't. In that case, Sethi says they "typically do not perform better than a simple S&amp;P index fund."
Identify a simple low-cost index fund and get going.
<h3 class="wp-block-heading">2. Ask For The Salary You Want And Deserve</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03084055/Wealth-2-1-1024x576.jpg" alt="" class="wp-image-321383" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03084055/Wealth-2-1-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03084055/Wealth-2-1-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03084055/Wealth-2-1-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03084055/Wealth-2-1-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03084055/Wealth-2-1.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representational image of two people in an office &#x7C; Photo courtesy: Shutterstock</figcaption></figure>
Investing is one side of the wealth journey. Making sure you're able to invest consistently is the other aspect. For most people, the source is salary, and making sure you're getting the right salary is important.
"Learn the skills of negotiating your salary and getting paid what you're worth," says Sethi.
One good way to make sure you're getting paid right is by checking what others in the same position as you are being paid.
<h3 class="wp-block-heading">3. Develop A Side Hustle</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03084119/Wealth-3-1024x576.jpg" alt="" class="wp-image-321384" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03084119/Wealth-3-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03084119/Wealth-3-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03084119/Wealth-3-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03084119/Wealth-3-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03084119/Wealth-3.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representational image of a person working &#x7C; Photo courtesy: Dall-E</figcaption></figure>
While not everyone is a fan of hustling, the journey to making wealth requires you to put in that extra effort.
"If you really want to increase your earnings, consider starting a business on the side," suggests Sethi.
This hustle could be anything you like – the only idea is that you get more money out of it than you put in. It can even be a hobby, provided it can be made profitable.
Image from Shutterstock

Personal Finance

'I Will Teach You To Be Rich' Author, Ramit Sethi, Became A Self-Made Millionaire — He Now Shares His Simple Formula To Grow Your Wealth

In Q1, Citigroup Got Notification From FDIC That FDIC Special Assessment Estimate To Increase To $20.4B; In Q1, Increased Its Total Accrued Estimated Liability To $2B For The FDIC Special Assessment

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Latest News for Vident International Equity Strategy ETF (ARCA:VIDI)

Friday, September 22, 2017