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Wells Fargo, Morgan Stanley and Bank of America are among a group of Wall Street banks accused of bilking customers out of billions of dollars in interest payments, according to a new report. The U.S. Securities and Exchange Commission is probing the banks to determine whether they purposefully directed clients...

Wells Fargo, Morgan Stanley and Bank of America Accused of Cheating Customers Out of Billions of Dollars in Interest Payments: Report

Axios

The SEC is charging famed activist investor Carl Icahn and Icahn Enterprises with failing to disclose the pledging of his company's stock as collateral on personal loans. Why it matters: Icahn is an iconic corporate raider whose firm has been under investigation since at least spring 2023. Between the lines:...

Carl Icahn failed to disclosure stock collateral, SEC charges

The third-largest public pension fund in the world has just bought nearly $34 million worth of shares in MicroStrategy, a Bitcoin-buying business intelligence firm. South Korea’s National Pension Service (NPS) purchased 24,500 MicroStrategy shares for a price of $33.75 million, an Aug. 13 filing with the United States Securities and Exchange Commission shows.

World’s 3rd-largest public pension fund buys $34M of MicroStrategy shares

Fox Business

Melinda French Gates recently said Berkshire Hathaway CEO Warren Buffett’s latest plan for what will happen to his massive fortune after his death did not come as a shock to her.

Melinda French Gates says Warren Buffett's latest will 'did not surprise me'

TheDailyBeast

Fears of an impending U.S. recession sent the Dow Jones Industrial Index tumbling more than 1,000 points in early trading Monday and triggered a panic sell-off in financial markets around the world.Wall Street went into meltdown with the S&P 500 down 4 percent and Nasdaq dropping 5.5 percent. The Dow Jones slipped 3 percent, or 1,197 points by 9.35 a.m. Eastern.Earlier, the FTSE 100 index in London fell by 2.1 percent, and it was followed by the Nikkei 225 in Japan plunging by 12.4 percent, or 4,451 points, the biggest one-day points drop in history.In Paris, the CAC-40 fell by...

Stock Markets Crash Worldwide Over Fears of U.S. Recession

California State

The Independent

Thiel compared California liberalism to Saudi Arabian Wahabbism — but it was sort of a compliment

Peter Thiel, eccentric billionaire patron of JD Vance, says he is thinking about leaving the US

Some top money managers sold Nvidia stock during the first quarter, while reallocating capital to the iShares Bitcoin Trust. The recent approval of spot Bitcoin ETFs is bringing institutional investors like hedge funds and investment banks to the market. Bitcoin block subsidies were reduced by 50% in April 2024, and...

Billionaires Are Selling Nvidia Stock and Buying an Index Fund That Could Soar Up to 5,655%, According to Certain Wall Street Analysts

The Motley Fool

The aptly named Oracle of Omaha has purchased shares of his favorite stock for 24 consecutive quarters.

Warren Buffett's Latest $345 Million Buy Brings His Total Investment in This Stock to Almost $78 Billion in 6 Years

Colorado State

Contributors represent independent, third-party users who have joined our contributor program and self-verified their accounts. They have also demonstrated their experience writing hard news for other outlets. Contributors are expected, like all users, to adhere to our Community Standards.

contributor

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

24/7 Wall St.

: Warren Buffett sold half of his Apple stake and now holds $277 billion in T-bills, earning $12-13 billion annually in interest. His move suggests he sees limited value in the current market, with stocks potentially overvalued. Buffett’s recent actions imply he might be anticipating a serious market correction. As good as Treasury bills […]
The post The US Government Is Paying Buffett $13B a Year Right Now appeared first on 24/7 Wall St..

The US Government Is Paying Buffett $13B a Year Right Now

Writers represent independent, third-party users who have joined our contributor program and self-verified their accounts. Writers are expected, like all users, to adhere to our Community Standards.

writer

J. Souza

According to news reports, a dramatic fire engulfed a $19 million superyacht on Saturday, sending plumes of smoke billowing over the waters of the Gulf of Olbia, Sardinia. The incident, which occurred in a region often dubbed the "Billionaire's Playground," resulted in the complete loss of the 154-foot vessel.

Billionaire's Superyacht Catches Fire and Sinks: 16 People Were On Board

Camden, NJ

Cornelius, NC

Morristown Minute

CAMDEN, N.J. – Lisa Smith, 61, of Cornelius, North Carolina, has admitted to her role in a fraudulent scheme involving over $3.5 million in Paycheck Protection Program (PPP) loans. U.S. Attorney Philip R. Sellinger announced today that Smith pleaded guilty before U.S. District Judge Karen M. Williams in Camden federal court on July 17, 2024, to a charge of bank fraud conspiracy.

Woman Pleads Guilty to $3.5M COVID Relief Scam

Fortune

Buffett has contributed $43 billion to the Gates Foundation since 2006, but he reportedly now views the organization as bloated.

Warren Buffett’s friendship with Bill Gates has soured. What that means for the $77 billion Gates Foundation

Reuters

ZURICH (Reuters) -UBS is to liquidate a $2 billion real estate fund it acquired when it bought Credit Suisse, the Swiss bank said on Thursday, in the latest sign of investors selling out of troubled commercial property markets.

UBS to liquidate $2 billion real estate fund as office downturn bites

Warren Buffett's stake in Apple is currently worth $135 billion. Shares of Apple are soaring as investors are encouraged by the company's new artificial intelligence (AI) services. While it can be tempting to follow momentum, Apple still has a lot to prove when it comes to competing in AI. Apple...

Billionaire Warren Buffett Has $135 Billion Invested in Just 1 Artificial Intelligence (AI) Stock. Is It Time to Buy?

Apache Junction, AZ

Suzy Jacobson Cherry

When I studied Anthropology in college, I learned that teeth have been indicators of economic status just about forever. Archaeologists look at the teeth in ancient skeletons and know who the rich were based on their tooth decay. During the Renaissance period, it became fashionable for women to blacken their teeth to look like they were better off than they were, because the royals and aristocrats, who could afford sugar and sweets, had more rotten and missing teeth than the poor.

Opinion: Stop Stereotyping Bad Teeth as a Sign of Drug Addiction

Former President Trump's latest financial disclosure released Thursday revealed that while he made millions from his properties and business ventures, the civil judgements against him posed heavy financial liabilities. Why it matters: The more than 250-page filing is the first insight into Trump's personal finances in a year's time and...

Bibles, crypto and lawsuit payouts: What's in Trump's 2024 financial disclosure

(Reuters) -The spate of regulatory investigations into wealth managers' cash sweep programs could hurt their credit ratings, Moody's Ratings warned on Thursday, underscoring the threat to the high-margin business for firms like Morgan Stanley and Wells Fargo.

Cash sweep scrutiny threatens wealth managers' credit ratings, Moody's says

Connecticut State

Ernesto has regained hurricane status and picked up strength as it heads farther out into the Atlantic Ocean

Ernesto gains strength over open Atlantic. Unrelated downpours in Connecticut lead to rescues

Denver, CO

The Denver City Council accepted Monday two grants totaling $24.5 million from the state of Colorado to pay for the homeless navigation campus it opened last year. One council member wants answers as to why wraparound services at the campus aren't up and running.

Denver homeless hotel wins $24.5 million grant, experiences wraparound services delay

Billionaire Carl Icahn and his company were charged by U.S. regulators with failing to disclose personal loans worth billions of dollars that were secured using securities of Icahn Enterprises as collateral

US settles with billionaire Carl Icahn for using company to secure personal loans worth billions

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