FTX founder Sam Bankman-Fried sentenced to 25 years for crypto fraud

FTX founder Sam Bankman-Fried sentenced to 25 years for crypto fraud

FTX founder Sam Bankman-Fried was sentenced to 25 years in prison on Thursday for the massive fraud and conspiracy that doomed his cryptocurrency exchange and a related hedge fund, Alameda Research. The sentence in Manhattan federal court was significantly less than the 40 to 50 years in prison that federal prosecutors wanted for Bankman-Fried. But it was much more than the five to six-and-a-half years suggested by his attorneys. “There is a risk that this man will be in position to do something very bad in the future,” Judge Lewis Kaplan said before sentencing the 32-year-old and ordering him to...

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Trump selling $60 ‘God Bless the U.S.A.’ Bibles with Lee Greenwood

Trump selling $60 ‘God Bless the U.S.A.’ Bibles with Lee Greenwood

Former U.S. President and Republican presidential candidate Donald Trump addresses the Pray Vote Stand Summit, organized by the Family Research Council in Washington, September 15, 2023. Jonathan Ernst | Reuters Donald Trump on Tuesday started promoting a line of pricey Bibles in partnership with country music star Lee Greenwood, whose song “God Bless the U.S.A.” is omnipresent at the former president’s political rallies. “All Americans need a Bible in their home, and I have many,” Trump said in a video on Truth Social announcing the business deal. “It’s my favorite book. It’s a lot of people’s favorite book,” he said....

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Logistics scramble after bridge collapse closes Port of Baltimore

Logistics scramble after bridge collapse closes Port of Baltimore

The steel frame of the Francis Scott Key Bridge sits on top of the container ship Dali after the bridge collapsed, Baltimore, Maryland, on March 26, 2024.  Roberto Schmidt | Afp | Getty Images Logistics companies up and down the East Coast were urgently relaying messages back and forth to clients Tuesday on the status of their imports and exports after the Port of Baltimore was shut down in response to the collapse of the city’s Francis Scott Key Bridge. A massive rescue effort was underway Tuesday morning. “Our first priority is engaging clients to make plans for containers that...

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Britain blames China for hack that accessed data of millions of voters

Britain blames China for hack that accessed data of millions of voters

LONDON — The U.S. and U.K. on Monday accused hackers linked to the Chinese state of being behind “malicious” cyber campaigns targeting political figures, in moves expected to stoke tensions with Beijing. The British government also alleged that China-affiliated hackers were behind an attack that saw the data of millions of voters accessed. “I can confirm today that Chinese state-affiliated actors were responsible for two malicious cyber campaigns targeting our democratic institutions and parliamentarians,” British Deputy Prime Minister Oliver Dowden said in a speech to Parliament on Monday. Dowden attributed a hack on the Electoral Commission, the independent agency tasked...

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Top Wall Street analysts like these dividend stocks for portfolio income

Top Wall Street analysts like these dividend stocks for portfolio income

Even as the major averages have recently hit fresh records, there are plenty of catalysts that could shake things up, including geopolitical tensions and the upcoming U.S. presidential election. Investors seeking some stability in their portfolios may want to consider high-quality dividend stocks, especially those with a track record of steady income payments. Analysts conduct thorough research of companies’ fundamentals and their ability to pay and increase dividends over the long term.    Here are three attractive dividend stocks, according to Wall Street’s top experts on TipRanks, a platform that ranks analysts based on their past performance. Enbridge Energy infrastructure company Enbridge (ENB)...

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Biden signs $1.2 trillion spending package

Biden signs $1.2 trillion spending package

U.S. President Joe Biden and Vice President Kamala Harris meet with (L-R) Senate Minority Leader Mitch McConnell (R-KY), House Speaker Mike Johnson (R-LA), Senate Majority Leader Chuck Schumer (D-NY), House Minority Leader Hakeem Jeffries (D-NY), on February 27, 2024 at the White House in Washington, DC. Roberto Schmidt | Getty Images President Joe Biden on Saturday signed Congress‘ $1.2 trillion spending package, finalizing the remaining batch of bills in a long-awaited budget to keep the government funded until Oct. 1. Almost halfway into the fiscal year, the president’s signature ends a months-long saga of Congress struggling to secure a permanent...

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Chrysler parent Stellantis laying off 400 salaried U.S. workers

Chrysler parent Stellantis laying off 400 salaried U.S. workers

The Stellantis sign is seen outside the FCA Headquarters and Technology Center in Auburn Hills, Michigan, on Jan. 19, 2021. Jeff Kowalsky | Afp | Getty Images DETROIT — Stellantis is laying off roughly 400 salaried employees in the U.S. in its engineering, technology and software units to cut costs as the automaker faces what it calls challenging market conditions. Stellantis on Friday said the layoffs would affect about 2% of employees in those units “after rigorous organizational reviews.” Stellantis employed 11,800 U.S. salaried employees as of the end of last year. The cuts are effective March 31. “As the...

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(RDDT) starts trading on NYSE

(RDDT) starts trading on NYSE

Reddit shares jumped as much as 70% in their debut on Thursday in the first initial public offering for a major social media company since Pinterest hit the market in 2019. The 19-year-old website that hosts millions of online forums priced its IPO on Wednesday at $34 a share, the top of the expected range. Reddit and selling shareholders raised about $750 million from the offering, with the company collecting about $519 million. The stock opened at $47 and reached a high of $57.80. At Thursday’s peak, the company had a market cap of about $10.9 billion. Reddit shares then...

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Don’t trust Trump’s ‘impossible’ appeal bond claims, attorney general tells judges

Don’t trust Trump’s ‘impossible’ appeal bond claims, attorney general tells judges

Former U.S. President Donald Trump speaks to the media as he arrives at a Manhattan courthouse trial in a civil fraud case brought by state Attorney General Letitia James against him, his adult sons, the Trump Organization and others in New York City, U.S., October 4, 2023.  Mike Segar | Reuters Donald Trump should have pledged real estate he owns as collateral against a $464 million business fraud judgment if he were “truly unable” to secure an appeal bond for that amount, the New York attorney general’s office said in a court filing Wednesday. Trump also failed to provide evidence supporting his claim...

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George Lucas backs Disney CEO Bob Iger in Nelson Peltz proxy fight

George Lucas backs Disney CEO Bob Iger in Nelson Peltz proxy fight

Filmmaker and Hollywood legend George Lucas is throwing his support behind Walt Disney CEO Bob Iger in the bitter proxy battle between the company and activist investor Nelson Peltz. Lucas, who received 37.1 million Disney shares as part of Disney’s $4.05 billion purchase of Lucasfilm in 2012, is currently the largest individual investor in the company, multiple sources confirmed to CNBC. In a statement provided to CNBC, Lucas wrote: “Creating magic is not for amateurs. When I sold Lucasfilm just over a decade ago, I was delighted to become a Disney shareholder because of my long-time admiration for its iconic...

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