TheDailyBeast

Loans that Elon Musk used to buy Twitter have become the worst merger-finance deal for banks since the financial crisis of 2008-09, according to a report.Seven banks involved in the deal, including the likes of Bank of America and Morgan Stanley, gave Musk’s holding company about $13 billion to take the social media giant private in 2022. According to The Wall Street Journal, banks who lend cash for takeovers typically try to sell the debt to other investors fast—but that has not happened with the Twitter deal.The Journal reports that banks haven’t been able to sell the debt without taking...

Elon Musk’s Twitter Buyout Is Officially the Worst Deal Since Financial Crisis

Two years ago, Elon Musk came in and spent $44 billion on a social media network that he quickly managed to destroy, turning it into the actual nightmare hellscape that we always said it was (little did we know how much worse it could get). Now, not only is it a useless, toxic space, but the company’s value has dropped precipitously. Advertising revenue is down something like 70 percent, and the company’s actual value has been cut by more than half (he bought it at $44 billion, and the company itself said its value was at $19 billion last year).

Elon Musk's Disastrous Twitter Deal Is Somehow Also Wreaking Havoc on the Banking Industry

Axios

Former President Trump may tap Tesla CEO Elon Musk for a role in his administration if he's re-elected in November, he told Reuters in an interview Monday. The big picture: The pair have forged an alliance and the former president has for months reportedly been weighing a possible role for Musk — one of the richest people on the planet who controls one of the world's biggest social media platforms and has endorsed him in the presidential race.

Trump wants to hire Elon Musk — and possibly cut Tesla's key tax credit

The Motley Fool

The Oracle of Omaha's short-term actions and long-term ethos don't always mesh.

Warren Buffett Has Sold Almost $2.3 Billion of Bank of America Stock -- and It's a Direct Reminder of His $56 Billion Warning to Wall Street

USA TODAY

The Consumer Financial Protection Bureau is looking into the handling of Zelle transactions by big banks, according to a Wall Street Journal report.

Bank of America, Wells Fargo are under investigation for handling of customers funds on Zelle

Big banks in the US are boosting the amount of cash they’re handing to new customers as the fight for deposits intensifies for the first time in years. JPMorgan Chase and Wells Fargo in particular are battling it out to curb deposit flight triggered by the Federal Reserve’s interest rate hikes, reports the Wall Street Journal.

JPMorgan Chase and Wells Fargo Offering $300 Cash As Banks’ Battle for New Deposits Intensifies for First Time in Years: Report

Virginia State

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Kentucky Vibes.net

Disclaimer: This article was written with the help of A.I. software. On July 28, 2024, a TikTok video posted by Erica W., known as @tasteofmelanin on the platform, garnered significant attention after she exposed disturbing racist decorations in an Airbnb rental. The incident occurred in a rental property that Erica had booked, although the exact location remains unspecified. The video has since gone viral, prompting widespread concern and leading to the removal of the listing from Airbnb's platform.

Airbnb Listing Taken Down After Black Woman Finds Hanging Monkeys and Cotton Used As Decor

Jeff Bezos, Elon Musk and Bernard Arnault (LVMH) have all traded the crown in recent years. Here's who is the richest person in the world today.

Who is the richest person in the world? See net worths of Elon Musk, Jeff Bezos, more

Business Insider

Jim, Alice, and Rob Walton are all close to joining a very exclusive club as Walmart stock hits new heights.

3 Walmart heirs are each worth almost $100 billion — and together they're way richer than Elon Musk

Las Vegas, NV

Zoreen Kabani always assumed she'd go into a traditional professional field. The 37-year-old's family immigrated from Pakistan to California when she was 14 and those were the paths she knew. In Pakistan, the cultural expectation is "you either are in finance or you're an engineer or you're a doctor," she says.

37-year-old went from working in finance to bringing in more than $100K a month selling clothes

Elon Musk’s latest post on X has once again stirred the Dogecoin (DOGE) community. In a post on X today, the billionaire entrepreneur shared an AI-generated image depicting himself as an executive in a whimsically named “Department of Government Efficiency,” cleverly abbreviated as D.O.G.E. Accompanying the image was Musk’s message, “I am willing to serve,” which not only played to his humorous public persona but also reignited interest in Dogecoin, leading to a 5% increase in its price to $0.105.

Elon Musk’s Latest Post Sends Dogecoin Community Into Frenzy

Disclaimer: This article was written with the help of A.I. software. Meghan Markle's venture into the lifestyle space has not been met with universal acclaim, particularly from one well-known figure: Martha Stewart. Earlier this year, in March, Meghan unveiled her new lifestyle brand, American Riviera Orchard. The brand immediately drew comparisons to other celebrity wellness empires, particularly that of culinary icon Martha Stewart. However, these comparisons have reportedly struck a nerve with Stewart, who finds them both "irritating and insulting."

Meghan Markle 'Insulted' Martha Stewart as She 'Won't Hesitate to Take Her Down

Former SEC Chair Jay Clayton joins 'Squawk Box' to discuss the rise of Vice President Kamala Harris, state of the economy, what to make of Kamala Harris' economic agenda, and more.

Former SEC Chair Jay Clayton: Blaming grocery store owners & others for economic problems is wrong

Los Angeles, CA

Herbie J Pilato

It's been four decades since Emmy-nominated actor Lloyd Haynes died of lung cancer at only 52 years old. Best known for his compassionate performance as history teacher Pete Dixon on television's groundbreaking, academic-geared dramedy, Room 222 (ABC, 1969-1974), Haynes was beloved by his fans, family, friends and colleagues alike. This is his story.

In Memory of 'Room 222' TV Actor Lloyd Haynes: 4 Decades After His Tragic Death From Lung Cancer

San Francisco, CA

CNBC's TechCheck brings you the latest in tech news from CNBC's 1 Market in the heart of San Francisco.

CNBC TechCheck Evening Edition: August 20, 2024

Advait Palepu is now covering the wealth beat in India for Bloomberg News, which he joined in March 2023. He previously was a writer for The Morning Context in Mumbai. He also worked as a correspondent for MediaNama covering digital banking and fintech. Palepu also worked at Bloomberg Quint in...

Palepu now covering wealth in India for Bloomberg

Teachers play a critical role in society, tasked with molding young people into the adults that shape the future. But teachers don't get paid as much as many other professionals. The median annual salary for high school teachers is $65,220, according to the Bureau of Labor Statistics. That's as compared to $130,160 per year for software developers and $145,760 per year for lawyers.

3 side hustles for teachers—one can pay as much as $100 per hour

A total of 94 US banks are at significant risk of experiencing bank runs by uninsured depositors if they show financial weakness, according to a new report. An analysis from Florida Atlantic University finds the billion-dollar banks in question – which include seven US financial giants – have all reported a 50% or higher ratio of uninsured deposits to total deposits.

94 US Banks at ‘Serious Risk’ of Bank Runs, Including BNY, State Street, JPMorgan Chase and Citi: Report

 Warren Buffett is betting big on this beauty brand. Warren Buffett’s Berkshire Hathaway halved its stake in Apple in the second quarter, a selloff that could cost the Omaha-based conglomerate more than what Coca-Cola brings in in a year. Suggested Reading. The average price of Apple stock that...

Warren Buffett's Apple stock selloff will cost $15 billion in taxes — more than what Coca-Cola makes in a year

Colorado State

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David Heitz

A bill quietly introduced this spring in the Colorado legislature to decriminalize the possession of drug paraphernalia obtained by harm reductionists has become law. As low-key as the legislation was introduced, the bill was signed into law without fanfare June 6. It garnered little to no media attention.

Colorado legalizes needles, pipes for meth and crack if obtained by harm reduction group

NewsBreak

New data shows Musk's Twitter takeover is worst deal for banks since 2008 financial crisis

CNBC's Deidre Bosa joins 'The Exchange' to...

New data shows Musk's Twitter takeover is worst deal for banks since 2008 financial crisis

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